A bidder asks.............

longtimecollector

Supposing you have a "high dollar" ($3000) item up for auction on the "Bay of E"..............

You get an e-mail from someone who asks (before he bids) if he wins, will you be willing to wait 30 days for payment????

Yes, No, Thoughts?????????????

nwcs

I'd say no thanks and to bid only if they have the funds available to complete the transaction.

Outhaul

It depends on how spirited the bidding is. If he's the only bidder then I would consider it, depending on his feedback rating and number of feedbacks.

Cheers,

Bob

jom

NO

jom

JxnBoy

I'm with outhaul on this. If there are a number of bids already, forget it. If you've got a starting bid at $3000, I'd ask for a deposit and work with him if he/she's got decent feedback.

MatthewBabcock

A number of times I've wanted something that I didn't have immediate
funds for... In each case, I've contacted the seller to discuss payment
plan options with them prior to bidding. I've always offered a
substancial down payment towards my winning bid with specific
date(s) of subsequent payment(s) when making such requests... I've
only had one seller say 'no dice'...

Tootawl

No. If he doesn't have the money now, tell him to wait for the next auction. No money - no coin. You don't run a lay-a-way service, do you?

razorface1027

I've asked many of vendor in the past if they'd await payment or accept payment incrementally, however many payments you deem fit to accept until paid, and I've never had a problem. Yes, it all depends on the feedback of the buyer. Another aspect is the sellers volume...high or low. Usually high volume vendors don't have a problem conducting business in this fashion...

UncleJoe

I get all kinds of e-mail requests and I politely decline all of them.

For me I keep it simple and only conduct sales through eBay with payment expected within 10 days.

I have not had a problem yet and I think by declining these e-mail offers I probably have avoided problems.

Joe.

mercurynut

Not a chance....after 30 days he will want more time...have the money or don't bid.

joeyuk

I was contacted as a underbider with a second chance offer. I told them I comitted with someone else foe same item. They said I could pay 20% down and balence within 30 days or I lose the 20%. I wound up with 2 of this variety. Joe

jbsteven

50% down and full payment within 45 days is good enough for me.

LALASD4

If he send a down payment, then why not, unless you need the money now. He might not even win, and help you get more for your coin. Every bidder counts, it is better not to alienate anyone, he might not have money now but he might have a lot later to bid on next auction.

291fifth

If they aren't able to pay at once they should be told very clearly that they shouldn't bid.

Neptune

Yes, I'm with Bob too . . . it would depend - are there any other bidders? I would probably tell them to wait until auction ends - and if you have a legitimate Buyer then the answer would be no. If item doesn't sell, then yes, I would make a deal with a good down payment.

relayer

I'd be so happy that I could sell the coin without getting ripped, I'd offer easy payment terms - but with a deposit (at least 25%)

flaminio

Nope, wouldn't do it. Pay now, or wait for the next one. Use your credit card if you need time -- I don't mind. And if you don't have sufficiently good credit for a credit card, why should I extend you credit?

jdimmick

If it were someone I know, such as a past buyer, I might would consider with half down and the rest within 30 days. However, most of the time I am selling the higher dollar items that come from my collection and dont want to tie up with waiting on large funds.

BigD5

When I am buying material for my collection terms on coins that would otherwise be out of my reach will make or break the sale.
For 30 days, getting a down payment (50% may be too much, or may not depending on the item) and setting strict payment terms is a must.
Make the buyer clearly understand that the down payment, or a portion of it will be non-refundable if they decide to back out of the sale, or cannot complete the sale for some reason.
I give terms all the time, and don't have a problem with it. Just set the ground rules, and you will be ok.
For all that said no, be careful, you may have to ask for "terms" at one point in your numismatic future, and you'd better hope that a mirror of yourself isn't the owner of the coin you desire.

The most important factor would be if you can afford to offer payment terms. If so, I would be flexible. If you can't, then simply let the potential buyer know that you would like to offer terms, but are not in a position to do so.

Good luck.

lordmarcovan

Maybe, if it was not getting a lot of other bids. Depends on the person's feedback, too- I would ask his user ID so I could check that out.

The bottom line is how much I needed the cash.

Of course, this is an entirely hypothetical situation, since $1100-1200 is about the most I have ever done on a transaction, either way. Most of my dealings are below $500.

Edit to add: asking a modest down payment might be prudent.

kranky

I guess I see it differently if I were the seller - if the bidding is active, I'd be MORE likely to accept terms. If you take 1/3 down and the balance in 45 days, what is your risk? If the guy doesn't pay in full, you keep the healthy deposit and can re-sell it knowing there was a lot of interest in the coin already. And if interest wanes a bit, wouldn't the 1/3 deposit be enough to cover a drop in selling price the second time around?