#How to make deals
7 messages in this thread
Marc:
eric smith wants to buy my camcorder. He lives in Maine, I live in L.A.
How do we complete the deal without either one of us ripping the other off
(to put it bluntly)? I'm sure he doesn't want to send me a check and then
receive defective merchandise, just as I don't want to blindly ship my
camcorder w/o knowing there's a non-rubber check in my hands.
How is this done here on CES?
Thanks.
John
What I usually do is ship stuff COD, and then ask the other person to pay
for it with a postdated check. If the amount in question is unusually
large, you might also want a banker's letter of guarantee to accompany the
check.
David
I am sure Marc will provide a more thorough reply but in circumstances
similar to those you describe I have used Federal Express COD cash
only where for an additional $5.00 they will accept only cash or a
certified check for the merchandise in the amount you specify and
return the proceeds to you within 24 hours. UPS COD, on the other
hand, processes the COD proceeds themselves and can take as long as
two weeks to get back to you with your money.
I too have faced this problem and am interested in other solutions.
Right now I am engaged in an extensive swap of computer gear for audio gear
and although we will ship to each other cross-continent at the same time I
am afraid it pretty much depends on blind faith.
As a final footnote, I have in fact personally encountered several
attempted rip-offs, where the other party had given a completely
phony university connection, was using an accomodation address, and
intended to pay with a rubber check; the cash-or-certified check
requirement gets around that ploy.
That last paragraph is scary.
(And it's ironic to have it reported by a guy named Diogenes.)
Sorry — but it's the truth.
Excuse me for jumping in, but let me report that I've dealt with these
sorts of deals many times in many ways and from both sides of the
transaction.
I've never ripped anyone off (even those who forwarded checks first) and no
one has ever done it to me (even when I've forwarded checks first).
A possible system that offers some protection is to ship UPS COD with a
notation that only cash or certified check is acceptable. Of course the
shipper could send a box of bricks or something, but at least the buyer
gets a box before anteing up.
Consider using postal money orders. If there's a ripoff, you can get the
government involved…
Personally, if I were Eric, I'd just send you a check and let you ship out
the camcorder. It's the most convenient system by far and some sellers
will even offer a better deal since they don't have to front any $$$ for
shipping.
Tom,
I bought and sold several items through AudioMart ads, and they offer
service where the buyer sends the check to Audiomart (MO or certified, or
maybe they will cash it to be sure it is good) who notifies the seller, who
sends the goods. The buyer has a couple of days to make sure everything is
OK, then either returns the goods, or the money gets passed on to the
seller minus about $20.
Also Audiomart will not carry ads from the general public (you need a
referal for a subscription first), and will not post ads for anyone with a
unresolved dispute. I bought a ST70 that wasn't what I understood it to be
(the ad said modified, but the amp only had a simple parts upgrade), and
when the seller balked at refunding my money, Audiomart called them and
stopped all their ads until we reached an agreement.
Cross country deals have some risk, but don't forget why you are doing it
(better price, easier to do, etc.).
BTW the person most at risk is the buyer. If I buy your stuff and it breaks
two hours later I am stuck, or at best at your mercy.
Cheers, Mike Ford