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How Would You Take Payment for a High-Dollar Lot?
bens4778
Posts: 112 ✭✭✭
For those of you who have sold high $$ lots to major dealers (off Ebay etc.), how did you take payment? Most importantly, how did you verify that the receiver got each individual card? Has anyone ever had a problem?
Thanks in advance - Ben
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Ben,
Good luck with your sales. I would think if the deal is high enough that a dealer would meet you in person on a buying trip or at a show versus risk shipping. At shows like the National it is my understanding dealers come prepared with cash ready to buy. Otherwise, when I have done higher dollar deals I have accepted PayPal or bank transfers as payment. I was dealing with fellow collectors (usually on here) that I knew, so I shipped USPS overnight with tracking and signature confirmation and all went fine. If the cards are very expensive I believe Registered USPS is the safest way to ship though as to my understanding it requires signatures by employees with each change of possession along its route to delivery.
If it's a dealer beyond your comfortable driving distance, you could send the cards to a local attorney in the dealer's area. The dealer can then go to the attorney's office, inspect the cards, and if the dealer agrees that the cards are what you say they are, at the price which was agreed upon ahead of time, then he can pay the attorney, with cash if that's what you wanted. The attorney will then give the dealer your cards, take his cut for what you and him agreed would be the cost of his service, and the attorney can send you the money in a form of payment that you worked out with the attorney. Keep in mind that probably the attorney will only send you a check, but there would be no worry about that bouncing.
Ask for a CC or check from a bank in your area. For example if there is a Wells fargo in your area and also his. Have them send a CC from a bank in both your areas. Then take the check to the bank which it is from. Have them confirm it. Then mail safely to the buyer.
Thanks everyone. Delivered by car and made sale today.
In the future for large cash payments from a buyer, might be wise to buy one of those counterfeit bill detector pens retail stores use.
Always cash. Most dealers will fly to you for a large lot. Run the money through a money counter which has a counterfeit detector built in, you can buy one online for just over $100.
In God We Trust....all others, pay cash
I guess 4SC really does pay the most!
They'll make a good margin, for sure. The fact that I could drive the collection over was the deal-breaker. Sat there and talked with Roger while he went through the cards - He's a good guy.
Did that deal yesterday and they've got all the cards up today - impressive. Some of those prices will be impressive, too, if they get them.
@bens4778 — I just treated myself to your Mazeroski. Looking forward to checking out the rest of the set as it is gradually rolled out.
Wow, almost 2/3 of it is up now. They don’t fool around.
@PaulMaul enjoy the Mazeroski! As you know, one of my favorites from my set.
It's just hitting home that I don't have any of these anymore; I still think about them like I do.
I'll still be around the 1972 message board. Wouldn't say I've given up on Mays IA or Aaron IA as projects.