money landering? can anyone explain ** OK THIS ONE TAKES THE CAKE **

Maxcrusha

all this seller will get is a net of like $30-40 after he pays shipping and ebay/paypal fees... can anyone explain why?

i am lost:

ebay craziness

Tookybandit

$30-$40 must be worth it for them?? Maybe they think they will sell 100+ lots a month and never have to work again with a new $3K-$4K eBay income.

Maxcrusha

if they lose even one lot in the mail they'll be so under water

Constantine

It is odd yes. He has sold 137 of his single $100 listing at $116.75. Not much profit either after fees/shipping though.

Jim61

Certainly better than what you can get from a bank in interest. Definitely not greedy.

TigerTrader

Some people have a tough time finding truly new bills and may be willing to pay a premium but it seems like it most likely Money laundering or cashing in Ebay Buck too me...

Tookybandit

Originally posted by: Jim61

Certainly better than what you can get from a bank in interest. Definitely not greedy.

That is too true! Great point Jim.

underbidder

Originally posted by: Maxcrusha
all this seller will get is a net of like $30-40 after he pays shipping and ebay/paypal fees... can anyone explain why?

i am lost:

ebay craziness

He pays eBay/PayPal fees at a lower rate than you.

Jeff

Maxcrusha

i want someone to explain this one

AUandAG

Originally posted by: Maxcrusha

i want someone to explain this one

How can that be explained except laundering....no way.



Maybe they are N. Koren counterfeits??



bob

NiceDocter

Perhaps someone should make him an offer of $900 cash and see what happens?

DepressionscripGuy

Looks like the 2nd guy has never sold money before....so maybe a compromised account and they are selling fake $100 bills. Once they get caught, the account is shut down and they move on?

gsalex

He's basically an ATM. What's occurring is money being converted from PayPal credit into cash. The seller is in Virginia; he seems to be tacking on a percentage for the conversion, when you deduct the fees. What I'd like to know is where/who the money is being shipped to. A lot of these buyers are new and they are repeaters.

Definitely money laundering. Every so often he'll sell a few coins so he looks more legit, but if you look at his feedback it's nearly all $100 bills.

TigerTrader

I never really thought of it like an ATM... Using credit cards or Credit accounts to get cash... That actually makes a whole lot of sense and for someone in the right situation would be a lot less expensive then trying to get a cash advance from a Credit Card. Not to mention that if you take a cash advance they will only allow it up to a certain % of your limit. With this method you could use 100% of your limit.



On the higher volume seller he is at least paying what 4 - 6% in fees? (Jeff?) so there is a decent return there but to me it wouldn't be worth the risk or time... Perhaps he has a very good insurance policy and feels more comfortable than I would. The only way it would be worth the time would be to increase the volume and then I would imagine it would reach someone's radar...

Maxcrusha

seriously?

Jim61

Originally posted by: Maxcrusha

seriously?

Newbie seller just trying to buy his first positive feedback IMHO.

Maxcrusha

how about selling $1 bills for 50 cents? probably would be safer

brendanb438

More often than not when there is no history of selling bills or change like this it is a compromised account. Or the person has already ruined their credit and they are gonna take the payment and run either stiffing the buyer, stiffing eBay on fees at the end of the month or both.

Maxcrusha

i bought the 6 $20 bills for $114... they arrived! yippee!