Question about buying high priced coins on eBay -- 1793 Flowing Hair Wreath Cent PCGS XF 40
TopographicOceans
Posts: 6,535 ✭✭✭✭
I think the highest priced coin I've bought on eBay was $5,500.
The seller has 61 FB selling, with a total of about $10,000 in sales and the highest item was $900.
It's a $19,500 price guide, so $8,500 probably won't win it but I would go $12,000.
However sending someone on eBay that kind of money without PayPal or CC protection is beyond my comfort level.
I was placing an $8,500 bid on a coin and I got the message below which I've never seen before.
Has anyone done an eBay transaction over $10k and how were you able to pay?
eBay Message
Please note that PayPal (and some credit card companies) generally will not process payments in excess of a certain dollar amount. If the winning bid amount is above this level, it may be necessary to contact the seller to arrange other payment methods. This is not something the seller has direct control over, so please keep this in mind when providing feedback.
(edit to clarify the eBay message portion of post)
The seller has 61 FB selling, with a total of about $10,000 in sales and the highest item was $900.
It's a $19,500 price guide, so $8,500 probably won't win it but I would go $12,000.
However sending someone on eBay that kind of money without PayPal or CC protection is beyond my comfort level.
I was placing an $8,500 bid on a coin and I got the message below which I've never seen before.
Has anyone done an eBay transaction over $10k and how were you able to pay?
eBay Message
Please note that PayPal (and some credit card companies) generally will not process payments in excess of a certain dollar amount. If the winning bid amount is above this level, it may be necessary to contact the seller to arrange other payment methods. This is not something the seller has direct control over, so please keep this in mind when providing feedback.
(edit to clarify the eBay message portion of post)
0
Comments
If you use a CC (always recommended no matter how big the purchase on E-Bay) you have 3 layers of protection. E-Bay, Paypal and lastly your CC company.
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
As long as you have sufficient remaining credit, the card itself won't be an issue. Worst case,
the card issuer will deny the first charge attempt, contact you with a potential fraud alert, and
then OK it on the second attempt.
They transferred me to PayPal and where they explained that the maximum transaction amount is $10,000 and to be covered under both eBay and PayPal buyer protection the seller has to send invoices with a maximum amount of $10,000 in order to provide proof it is for payment for merchandise.
Then I can pay with a credit card through PayPal and be covered by eBay, PayPal and my CC.
I don't know how the seller can send two invoices if it goes over $10k but I guess one could be through eBay and the other through PayPal?
I don't know if my CC would balk at it or not, but I'm sure I could get them to approve it if I called to explain it is a legitimate transaction.
PayPal did say there is no overall limit, just $10k per invoice. So you could buy a $99k coin and pay using 10 separate invoices.
So I put in my bid and I'm the high bidder with 1 day to go.
I did put in a $10,001 bid but didn't confirm it just to see if there were any additional prompts. I may have to snipe.
In the old days on the bay, I put in 5 figure bids on scammer listings, but I never intended to pay those, just to prevent a rip-off.
``https://ebay.us/m/KxolR5
<< <i>3% of $10K doesn't seem like a lot of money to some. I'd send a check. >>
Only if the seller was willing to share most or all of the savings. His other bennie is that it doesn't accrue to his reportable limit.
<< <i>
<< <i>3% of $10K doesn't seem like a lot of money to some. I'd send a check. >>
Only if the seller was willing to share most or all of the savings. His other bennie is that it doesn't accrue to his reportable limit. >>
If the seller is diligent he gets the point clearly. It's not a matter of savings, it's a matter of earnings.
More money in his pocket is more profit and that's more income to report. And that's a good thing.
I prefer the 1099. It's much easier for tax purposes. The bennie is being in business.
``https://ebay.us/m/KxolR5
<< <i>
<< <i>
<< <i>3% of $10K doesn't seem like a lot of money to some. I'd send a check. >>
Only if the seller was willing to share most or all of the savings. His other bennie is that it doesn't accrue to his reportable limit. >>
If the seller is diligent he gets the point clearly. It's not a matter of savings, it's a matter of earnings.
More money in his pocket is more profit and that's more income to report. And that's a good thing.
I prefer the 1099. It's much easier for tax purposes. The bennie is being in business. >>
As a buyer, there has to be something in it for me otherwise why go to the hassle? I'm potentially "saving" $300 by using a non PP payment method. The seller is "earning" $300 less either way. But you're right; $300 means more to some folks than others.
I have seen that message hundreds of times. As long as your credit card has a limited over 12k or whatever your bid will be then you should be fine.
In terms of ebay/paypal protection only up to 10k that I am not sure.
Ive definitely had issues (and got my money back) for 7-8k on multiple occasions.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
<< <i>
As a buyer, there has to be something in it for me otherwise why go to the hassle? I'm potentially "saving" $300 by using a non PP payment method. The seller is "earning" $300 less either way. But you're right; $300 means more to some folks than others. >>
Actually as a buyer, you're spending the same amount. The seller can save some fees and thus help reduce costs by accepting another form of payment, if such is possible with $10K coins. Not like many are buying those kind of coins on eBay. More seem to be selling them there, after buying them at other auction venues. Also PayPal or Ebay protections are fairly good. Not to say every seller is. The buyers still rule.
``https://ebay.us/m/KxolR5
<< <i>Since eBay and PayPal are now separate, it's no longer as self-serving to force people to use PayPal. >>
Nobody was ever forced by eBay to use PayPal. The requirement was that a seller had to offer
buyers at least one form of electronic payment.
<< <i>
<< <i>
As a buyer, there has to be something in it for me otherwise why go to the hassle? I'm potentially "saving" $300 by using a non PP payment method. The seller is "earning" $300 less either way. But you're right; $300 means more to some folks than others. >>
Actually as a buyer, you're spending the same amount. The seller can save some fees and thus help reduce costs by accepting another form of payment, if such is possible with $10K coins. Not like many are buying those kind of coins on eBay. More seem to be selling them there, after buying them at other auction venues. Also PayPal or Ebay protections are fairly good. Not to say every seller is. The buyers still rule. >>
How so? The auction ends with a $10K bid. If seller wants a check and offers an incentive for me to do so we might agree to split PP savings so my check would be for $9850, not $10K.
1793 Flowing Hair Wreath Cent PCGS XF 40
Lots of issues on this one including the weird colorization around the mouth as well as the scratches across the head.
The verdigris I figured I could dip off...
Oh well another one will come along.
I don't think I would have done that today on somebody I didn't or couldn't check out.
jim
Honeslty, not 5k, but If I had a coin that was up in the high 5 figure range, I would probably make arrangements to go get it.
Coin won't be shipped until check clears.
As a seller, I wouldn't take a check either. Too many scams
where what appears to be a cashier's check is bogus. Sometimes,
it can take 2 weeks to find out.