Need help with the logistics of selling a 5 figure card on Ebay
frankhardy
Posts: 8,098 ✭✭✭✭✭
I have a card that has spiked recently to over 5 figures. Even though I want to keep an example of this card in my collection, I am thinking I need to sell and buy another one that is a grade lower.
I have sold on Ebay for nearly 20 years. However, the highest price I remember is $4,000 + for a nice 1961 Topps complete set about 15 years ago. With the changes Ebay has made with return policies and such I am concerned about this. If I sell this card for 5 figures it looks like at the very least I need to hold onto the funds for 30 days. However, the ole' Google machine tells me that the buyer has 180 days to file with Paypal. Then, if paid with a credit card there is a 90 - 540 day window for a chargeback depending on the card and the situation.
I need some advice. I am scared to sell it because of the possibilities. Holding onto the funds for 30 days is inconvenient, but manageable. 180 days with Paypal makes it worse. But 18 months for a chargeback.....that makes me shiver. I can't afford to lose that kind of money.
Also, does positive feedback close that Ebay window? Thanks for any advice.
Shane
Comments
Consign it
I'd consign it as well
IMF
Another possibility would be selling it at a local show if you're close enough to one of the large ones like the National.
I am of your same mindset. I think the odds of bad stuff happening are slim, it does happen. I would not want to be the recipient of it. I have had my fair share of nuisance issues over the years with ebay buyers and sellers, but nothing related to huge sale prices. I don't think i would be comfortable selling anything at that amount that does not protect me from random returns at the whim of the buyer.
Unless you are a large seller who must deal with it, the no questions asked, return whenever policy just doesn't work for the small guy. Especially with volatile pricing on items like collectibles.
What is my risk if I consign it? Couldn't the same thing happen?
Also, I still need an answer to this question....does feedback left close the deal or can they still return item?
Shane
Those are great questions. It's unfortunate ebay doesn't do more to protect their sellers.
I haven't sold anything in a long time. The high dollar stuff would worry me.
I think, but not 100% sure, the consignor takes on more of the BS risk. I have read PWCC pays fairly quick.
Again, I can't speak from experience but I ask myself what would be the best way to liquidate if I'm not around.
I would possibly try getting the best price at a show, unfortunately not too many happening right now.
Hopefully you get more feedback.
Good luck!
Unless the rules changed and i wasn't aware of it, a buyer leaving feedback has no affect on the return policy.
I once had positive feedback for a 2k card and the buyer later opened a case saying it was damaged. He won and eBay refunded him. Positive feedback doesn’t mean squat if they open a case.
Consign it and send it registered mail insured. You will be fine.
If you hand-deliver an item like this (off-eBay) and use a service like venmo or paypal, can the buyer dispute this and end up retaining both the card and the cash?
Thanks,
David (LD_Ferg)
1985 Topps Football (starting in psa 8) - #9 - started 05/21/06
My understanding is that for transactions of normal size shippable items, in a dispute they first want to see online signature verification from USPS, UPS, FedEx, etc. If not, it would likely if not definitely be a slam dunk refund to the buyer.
If you were to hand deliver the item, and even if you get the buyer to sign for it, I don't think that is acceptable to them.
But you wouldn't be dead in the water. You could still file suit against the buyer, and in my opinion you would likely win the case. However actually collecting the money is another matter. If the buyer is transient, living say in an apartment, you might never collect the money even with a successful judgement.
If you're going to hand-deliver, there is no sense in using paypal goods & services. Paypal would take a large percentage in fees and you'd be out quite a bit that way, considering the item's cost. In-person, you are better off getting a bank issued cashier's check. The buyer would not be able to get that money back like they would by processing a claim through paypal goods & services (If they used paypal friends & family, then the buyer would not be able to file a claim to get their money back), and there would be no risk to the buyer to use a cashier's check since they would have the item in hand at the time of the transaction.
I would go the consignment route. I did this past summer, with mid to high value cards and everything went smooth. Was paid quick, commission rates were reasonable, and had none of the headaches to worry about.
If you are looking for every last penny on your card then obviously my opinion doesn't apply. But all the potential headaches you mentioned are all possible despite any opinion given or which you are looking for. Also the longer you waver, the potential for max value could decrease (though current market situation doesn't look like this would appear to materialize).
I wish you the best on your sale. It has been quite the run up in prices.
It depends on who you consign to. Most auction houses outside eBay have a “no returns” policy or they make it very tough to return an item.
I have never heard of PWCC clawing back funds due to a chargeback. They do hold off on payment for non-paying bidders. But you should be fine.
I haven't looked into it myself, but I suppose you could also research the option of opening a PWCC vault account and setting your cards for sale there with high BIN-OBO, and then let them deal with safe storage, shipping and insurance. I have no experience with that from the perspective of having a vault spot there, but I can say that several of the cards I sold that were between the $1k to $10k range last year were shipped to addresses at the vault rather than to the buyers' home address.
five figure card? Send it to REA, the deadline for the spring auction is approaching
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stupid print dots
Agree. I wouldn't have a care in the world having REA handle that kind of sale for me.
ISO 1978 Topps Baseball in NM-MT High Grade Raw 3, 100, 103, 302, 347, 376, 416, 466, 481, 487, 509, 534, 540, 554, 579, 580, 622, 642, 673, 724__________________________________________________________________________________________________________________________________ISO 1978 O-Pee-Chee in NM-MT High Grade Raw12, 21, 29, 38, 49, 65, 69, 73, 74, 81, 95, 100, 104, 110, 115, 122, 132, 133, 135, 140, 142, 151, 153, 155, 160, 161, 167, 168, 172, 179, 181, 196, 200, 204, 210, 224, 231, 240
As others have said, the best bet is to consign the card. If you go with Probstein or PWCC, the net back to you is practically the same as if you sold it on ebay yourself. A couple of months ago, I consigned a ~$7K card (Bird/Magic RC) with Probstein, and the transaction went very smoothly. I received my payout ~ 2 weeks after the auction ended.
Lou Gehrig Master Set
Non-Registry Collection
Game Used Cards Collection
Thanks for all of the advice guys. I was strongly considering the consignment route, but someone here contacted me wanting it. I sold it today and shipped it out. He paid via wire transfer. I overnighted it to him and he will have it by noon tomorrow. Once it arrives and he is pleased, the deal will be closed. Very satisfied. I hope he is as well.
Shane
What about tax issues selling such a card? Do the auction houses do any kind of reporting to the IRS on behalf of the consigner or is reporting the sale’s proceeds the complete responsibility of the consigner?
PWCC does not.....that's been my only experience
Actually, any card that sells for over 5K at PWCC, the fee is reduced to only 8%.