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Ebay Poll: Would you take Paypal on a $3,000 to $4,000 card?
frankhardy
Posts: 8,046 ✭✭✭✭✭
In the near future, I will be listing a card that should bring $3,000 to $4,000. The question is simple - would you take Paypal?
I have always taken Paypal due to the fact that I (along with many others) simply pass on auctions (when buying) if Paypal is not accepted. That is simply due to convenience. I always thought that (as a seller) the Paypal fees incurred are almost always made up by more bids.
On the other hand, if I am looking to buy a card that I really, really need, or one that rarely comes up for sale, I will bid even if the seller doesn't accept Paypal.
On a card this expensive, the Paypal fees will be ridiculous. Will there be enough "no Paypal" bidders to offset the "Paypal only" bidders on a card in very high demand?
I have always taken Paypal due to the fact that I (along with many others) simply pass on auctions (when buying) if Paypal is not accepted. That is simply due to convenience. I always thought that (as a seller) the Paypal fees incurred are almost always made up by more bids.
On the other hand, if I am looking to buy a card that I really, really need, or one that rarely comes up for sale, I will bid even if the seller doesn't accept Paypal.
On a card this expensive, the Paypal fees will be ridiculous. Will there be enough "no Paypal" bidders to offset the "Paypal only" bidders on a card in very high demand?
Shane
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I know that might not make sense but I find it to be true.
You are looking at about $100 in paypal fees on a $3500 card so I guess that is the question. Do you lose $100 in bids? I would say no to vintage, yes to modern
Unless you need the $$$ right away, I would seriously consider selling the card through an auction house instead of Ebay.
Between Ebay & PayPal, you're going to be giving up roughly 10-15% of the final sale price, whereas with an auction house, not only are consignment fees these days only 0-5% (I sold some stuff through Mile High at 2% last winter), but you also don't have to stress out about receiving payment (since buyers are screened at many auction houses).
Memory Lane, for example, is still accepting consignments for their auction in August, meaning that you'll see your money in roughly 90 days.
Do not take PayPal for any amount that you would not be fine to get ripped off for and end up with no money and no item.
Take a Money Order or personal Check and let it clear.
But if thats the only way the buyer will pay or the deal is off, then I would.
Edited to add I was not thinking along an eBay transaction, I was thinking more of a personal transaction as thats the way I usually sell.
Seems like many high end vintage cards, recently, are selling above VCP prices.
Another thing to consider is... how fast do you want your money?
Why wait for payment through the mail and perhaps then have to wait for a check to clear too?
Lots of options, but personally .... I'd take PayPal.
Good luck no matter which way you decide to go.
PoppaJ
Dimes: 54S, 53P, 50P, 49S, 45D+S, 44S, 43D, 41S, 40D+S, 39D+S, 38D+S, 37D+S, 36S, 35D+S, all 16-34's
Quarters: 52S, 47S, 46S, 40S, 39S, 38S, 37D+S, 36D+S, 35D, 34D, 32D+S
74 Topps: 37,38,46,47,48,138,151,193,210,214,223,241,256,264,268,277,289,316,435,552,570,577,592,602,610,654,655
1997 Finest silver: 115, 135, 139, 145, 310
1995 Ultra Gold Medallion Sets: Golden Prospects, HR Kings, On-Base Leaders, Power Plus, RBI Kings, Rising Stars
<< <i>What's the card?
Unless you need the $$$ right away, I would seriously consider selling the card through an auction house instead of Ebay.
Between Ebay & PayPal, you're going to be giving up roughly 10-15% of the final sale price, whereas with an auction house, not only are consignment fees these days only 0-5% (I sold some stuff through Mile High at 2% last winter), but you also don't have to stress out about receiving payment (since buyers are screened at many auction houses).
Memory Lane, for example, is still accepting consignments for their auction in August, meaning that you'll see your money in roughly 90 days. >>
How does ebay/paypal get 10-15%? paypal is 2.9% and ebay fees - if the auction goes for 3k - are around 3%.
On expensive items, I call the buyer BEFORE I ship. If I cannot reach him,
I send an email and tell him to call me. Over $2K on PayPal, and I want to
chat with him to make sure he knows he just bought something. Less than
$2K, I just ship it.
I have had chargebacks on stolen-card buys for $10. And, I have had smooth
deals as high as $9K on PayPal.
I would list the item at a Very HIGH BIN and lower the price a little each day.
(I would use Immediate Payment Required.)
Or, I would use a HIGH reserve on an auction. (I don't like auctions, but many
folks do.)
If I didn't want the money right away, I would give the card to Memory Lane.
They might negotiate for low/no fee.
when you have some bids on it you get an offer offline and sell it that way.
In all seriousness it depends on the card. If it is rare enough I don't see a problem selling it
without paypal. Many buyers understand why some do not want to take paypal.
Steve
Paypal fees on 3,000.00 would be around 100.00. Ebay fees would be about 55.00. Thats only 5% of a 3000 dollar card
I have a CC chargeback going right now on a 3.00 item
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Also depending on when his account was created there may not be a choice in the matter. If your account was created in the past 2 years a seller has to accept Paypal or have their own CC merchant account set up.
It has already been documented on these boards (the coin boards in partucular) where honest sellers were ripped off by scamming buyers.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
They have changed the coin SPP, but basically the way it was set up sellers had no protection at all when selling coins.
The card in question is a 1952 Topps Mantle PSA "Authentic". It is the one that was recolored. Now, go ahead everybody and debate whether or not I will get that much out of it. I tend to think that I will. I definitely won't take less. Anyway, keep the opinions coming. I still have a decision to make about it. There are very good points made on both sides. I still don't know.
Shane
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I admire your faith in humanity!
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
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Steve
I've never had a problem auctioning or using BIN on a more expensive card and taking paypal. Vintage card buyers are usually top notch. Just ship to a confirmed address and cover you a$$ with insurance/signature confirmation, etc...
On newer cards from the 1980's and '90's it's a different story. Problems abound.
Good luck,
Rich
<< <i>Buyers of vintage cards are not likely candidates to scam a seller.
I admire your faith in humanity! >>
As a buyer I would be worried more about the seller NOT taking Paypal. No Paypal=No Purchase online for me unless I know the seller.
I have done the same for 3-4 1k sales and they all worked fine.
Shane
<< <i>I recently did a $5k+ sell and stated in the listing I accept PayPal only from a confirmed address. So I get a buyer who the ebay email says is from FL send me a paypal payment for $5K+ with an unconfirmed shipping address in Las Vegas, NV. So I am already thinking scam and I contact the guy and he says he is moving to Vegas and offer to send an official check. He does and everything works out. But if you get a buyer like that and they want to be a jerk they can neg you and you are defenseless and you have to relist your high end item with your new lowered feedback score and a negative for the same item on the first page of your feedback. So that is why all of my transactions over $2K do not offer PayPal. >>
That still does not stop the scam from being attempted. They can bid and win and then say they will only pay with Paypal. The seller is still powerless to stop it and the negative feedback effect is the same.
You don't have to worry about receiving payment.
You don't have to worry about negative feedback.
You get a higher percentage of the final sale price that you do with Ebay.
Only downside is that you have to wait a while for your $$$.
No you don't. Most auction houses are going to charge at least 10%. Ebay AND Paypal fees are only going to be between 5 to 7%. Depending on if you qualify for a FVF discount or not. If you get 15% they will be closer to 4%
frankhardy why are you selling this card so soon?
<< <i>No you don't. Most auction houses are going to charge at least 10%. >>
Leia, you must not have consigned to an auction house lately.
Most auction houses are offering consignment fees of 1-2% on just about everything, and as Allen mentioned, some are doing 0% on high value items. The competition is so fierce for good items, that auction houses are now focusing on getting their money from buyers, who get charged anywhere from 15-25%, instead of sellers.
And while some argue that the buyer's premium suppreses prices at auction houses, I have not found that to be the case. Whereas you can often grab PSA 9 stars for 60-70% of SMR on Ebay, similar items rarely sell for less than 90% of SMR through an auction house. You also have a very different population of buyers at auction houses than on Ebay. Whereas many Ebay buyers are bargain hunters who never bid without their SMR (or VCP) nearby, many auction house buyers are high rollers for whom price is no object and who are only vaguely familiar with price guides.
<< <i>
<< <i>No you don't. Most auction houses are going to charge at least 10%. >>
Leia, you must not have consigned to an auction house lately.
Most auction houses are offering consignment fees of 1-2% on just about everything, and as Allen mentioned, some are doing 0% on high value items. The competition is so fierce for good items, that auction houses are now focusing on getting their money from buyers, who get charged anywhere from 15-25%, instead of sellers.
And while some argue that the buyer's premium suppreses prices at auction houses, I have not found that to be the case. Whereas you can often grab PSA 9 stars for 60-70% of SMR on Ebay, similar items rarely sell for less than 90% of SMR through an auction house. You also have a very different population of buyers at auction houses than on Ebay. Whereas many Ebay buyers are bargain hunters who never bid without their SMR (or VCP) nearby, many auction house buyers are high rollers for whom price is no object and who are only vaguely familiar with price guides. >>
You hit the nail on the head....
After following a few suggestions from a thread that we posted last month, we decided to contact 3 top auction houses last week about selling our 40 year collection.
Each one of them offered us a 0% consignment fee, and they are still contacting us with offers trying to outdo the others.
Also, you're not far off on the 90% of SMR price either.
PoppaJ
<< <i>Most auction houses are going to charge you 0% on a 52 Topps Mantle.
frankhardy why are you selling this card so soon? >>
I bought it to flip from the beginning. With me building a poor 52 set, I wish that I could afford to keep it. I plan on taking any profits and adding to my 52 set. As poor as mine is, I will have to settle for one even poorer than that.
Shane
<< <i>I would take PayPal. BUT, there are risks.
On expensive items, I call the buyer BEFORE I ship. If I cannot reach him,
I send an email and tell him to call me. Over $2K on PayPal, and I want to
chat with him to make sure he knows he just bought something. Less than
$2K, I just ship it. >>
Excellent suggestion here. Calling the guy eliminates a lot of possible scams.
Tabe
I still have not decided about Paypal. I have a question about seller protection. I know that if I follow the guidelines that I can have protection against chargebacks. How do I protect myself from someone that gets a package from me, but says that the box was empty? Let's say I follow all the guidlines (ie signature confirmation, confirmed address, etc), and the scammer says that he got a package but the box was empty. What do you guys suggest?
Shane
<< <i>I know that if I follow the guidelines that I can have protection against chargebacks. >>
Wrong. Chargebacks are done by the credit card company and they just take the money from PayPal so PayPal takes the money from you. There is no making a case about anything.
<< <i>How do I protect myself from someone that gets a package from me, but says that the box was empty? Let's say I follow all the guidlines (ie signature confirmation, confirmed address, etc), and the scammer says that he got a package but the box was empty. What do you guys suggest? >>
They can file SNAD and send you an empty box and get the money as soon as the package they send you is scanned. Or they could just crack the PSA case, pull the mantle, stick in a counterfeit and claim you ripped them.
Shane
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Clear Skies,
Mark
Raw: Tony Gonzalez (low #'d cards, and especially 1/1's) and Steve Young.
No Way PayPal. Just made a $17,777.00 sale last month. E-Bay fees, listing and Final Val Fee about $350.00. Was Paid with Cashiers Check drawn on U.S. Bank, Ca. Waited 10 Business days to confirm all OK even though my bank said was OK after 3-5 Business days. All done all good!!! Paypal gets enough of my money and provides no Real guarantees, just problems with claims if anything ever bad does happen !!!!!
Neil
If you accept Paypal and follow all the guidelines and a buyer wins a chargeback Paypal will eat the expense. 99.9% of all problems that occur with a Paypal transaction the seller has no one to blame but themselves.
On a 3000 dollar sale Paypal and Ebay only get between 5 and 7% . To me that is worth the risks the item will sell for 10 to 20% more with Paypal involved. On an item like that if I cannot pay with Paypal I will not look any further and find the back button. Most buyers feel the same way.
<< <i>On an item like that if I cannot pay with Paypal I will not look any further and find the back button. Most buyers feel the same way.
>>
I think that the fact that myself and others have succesfully sold items for $5,000- $17,000+ without loosing any bidders and achieveing full value proves that is not true.