Selling/Buying Online From Forums

Ever since i put my 009 setup up for sale on headfi and sbaf, i've been getting offers from relatively new accounts, 1-2 months, or accounts that look like they were created the day itself by lurkers (or scammers) just to buy the stax.

I just sold and shipped out the stax by today, its a relatively new account, and the payment was made about a week before i shipped ( i told him he will need to wait if he wants it shipped form Singapore instead of malaysia). He negotiated a little, deal almost didnt go through as i did not want to ship from Singapore (Singapore gets special tax rate to the US, zero basically).

I eventually shipped from Singapore via friend who was heading back there.

Normally, i would not mind much as i usually withdraw payments to my bank account before shipping to prevent scammers and getting screwed by paypal (never happened so far), but since opening a semi-active online business selling books,i realized i would much rather keep the money in paypal for convenience sake; weaker USD the last couple weeks and also to prevent having to pay paypal their stupid 4-5% forex rates. I usually extract funds out by buying new audio gear =P

So whats the purpose of this thread?

Share your nightmare online sales story.
What are your selling/buying procedures?
What are you big no no's when buying or selling online. Etc etc

Also, if anyone here trades online often. Id like for someone who trades a lot online to read the chat i had with the buyer, just to feel if anything is fishy.

 

Procedures?

Details, details and more details!

When the seller does not know what he or she is selling and I anticipate too many risks, I step out. When the buyer is either too stupid or too demanding, I step out. People who really know what they want tend to not give you a hard time. They are specific, (mostly) know what to do and behave like adults.

One thing I always pay attention to is the specification. I do not care who you are. When you cannot give me the specifications of the thing I am interested in no deal. When you lack knowledge of what your selling you should still be able to provide the specifications.

 

Some people send me messages like "I can send you [lowball offer] on PayPal right now." They skeeve me out; too pushy. I don't do business with them.

 

On several occasions when selling gear I've been contacted by scammers. They will claim they want whatever it is urgently and will send proof of payment and a messenger to come by and pick it up. They show little actual interest in the product itself, it's always for a nephew etc. and they need no additional information on it. They try to complicate the payment part and make a big show of what lengths they're going to.

Of course the MO is to fabricate some payment proof and make off with the item. Be warned, buyer and seller, if one party doesn't really know what they're selling or buying something is dodgy. Too hasty...dodgy. Too pushy...dodgy.

Unfortunately you've just gotta get cold-blooded about this stuff.

 

OK that explains why im finding it impossible to buy a T2 or EAR509 right now, i can be abit pushy about it lol.

 

Unless my PayPal app rings, I don't consider any transaction completed. Also check the IP address of the incoming email.

 

Jon, owners of EAR gear TYPICALLY hold on to them and are TYPICALLY of the older / wiser (both of which I am not! But I'm an oddball case) kind of crowd. Been a around the block a few times kinda guys. Just FYI so you can approach these guys with a certain mindset.

These are the kind of owners I typically see out there. Never seen a young guy with EAR gear really (Findley doesn't count, another oddball case!)...

 

General guidelines I've followed for 10+ years:

1. Don't buy anything without seeing pictures and confirming home is non-smoking.
2. Perform general Google searches to learn whether fakes of that item are prevalent (e.g., Cardas cables or Beatles box sets).
3. Find out whether warranty is still valid and transferable by reading the legal terms on the manufacturer website and/or contacting them. Research estimated upkeep or repair costs, if any.
4. Don't buy anything on impulse unless I've researched for an extended period and know the item won't last long given the market price.
5. Don't buy anything from online forums without using PayPal linked to my Discover card (two layers of protection). Relatedly, do not send or accept "Gift" payments under any circumstances for online transactions. The fee is worth the peace of mind.
6. Research a seller/buyer's transaction history and reputation on a particular forum. This is more difficult now since there are so many forums and aggregate feedback sites like Heatware have fallen out of favor.
7. Always pay for shipping insurance of item's replacement value whether buying or selling. I use USPS Priority for smaller items and FedEx for larger/heavier items.
8. Respond promptly to inquiries (but not immediately). Fully disclose any blemishes or operation quirks. Keep the other party informed about shipping, tracking numbers, delivery, any problems upon first power-up, etc.
9. Wait to give feedback for a couple weeks to determine whether any longer-term problems surface.
10. Don't immediately transfer/spend money received in case a refund is needed.
11. Edit: I have no issue shipping internationally, but require the buyer to pay the additional shipping cost and insurance. Never declare a customs value less than what the item is worth as a seller. International buyers ask for this because they don't want to pay custom fees or other taxes, but that's not going to be my problem.