Question about accepting pay-pal when selling a high priced object. OT but could relate to coins too
TennesseeDave
Posts: 4,809 ✭✭✭✭✭
This is slightly off topic but could also apply when selling a high priced coin. I currently have an item for sale locally for low 5 figures and a man texted me saying he wanted to buy it, but was too busy to come and inspect it. He said he wanted to pay using PayPal and would pay the fees and send a shipper to pick it up after the funds clear. Sounds too good to be true. Question is: How long after funds are sent can the buyer do a charge back and get their money back?
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I would call PayPal customer service and ask how to proceed so that you are covered by their seller protection which is awesome as I have used it.
That is 100% scam. Do not fall for it.
My Early Large Cents
Chargebacks only come thru the CC Company. If you accept PP in the above case, can you exclude CC payment sources?
I agree. Call PP and ask how to proceed and get any promises in writing.
Too busy to inspect a 5 figure item? A third party will pick it up? He'll pay all the PayPal fees?
Sorry, this smells bad.
Lance.
I told them I would not accept PayPal, because I figured it to be a scammer.
I had the same type scam attempted on me when I was selling a boat in Boat Trader. They wanted to pay with an escrow PayPal payment including the shipping charges. The "buyer" claimed he was working on an oil rig in the Gulf of Mexico so he couldn't see the boat for a month, but it was exactly what he wanted. So he wanted me to send a payment ( using a Walmart prepaid card - Red dot I think? ) to a shipping company (in Ca when I live in Ga ) and when the boat was picked up he would release the PayPal escrow payment ( which was a fake account) . Who knows if I had gone through with letting the shipper pick up the boat, I might have ended up paying him to steal my boat. After I told him to get lost, he pitched a hissy fit and said he would call the FBI because I was breaking a verbal contract. Within a few days I got another call from another crook running a slightly different variation of the same scam.
Scam not worth hassle ..without even inspecting ??LOL
It makes no sense, why is he so interested in your collectible? This is a competitive business environment with many top buyers willing to pay around market for certified collectibles. You could create some reasonable hurdles, like business references from the guy. Chances are you will never hear from them again.
I suggest do not take paypal for pickups. You have practically no protection at all whatsoever.
signed receipts or video or whatever is not valid proof with paypal and not going to protect you from loss.
insist on cash at pick up. The guy is a scammer its a well known old scam but if he is serious he would do a bank transfer and make you not worry about him as a serious or real buyer.
Agree. This deal has more red flags than a May Day parade in a sanctuary city.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Even then you would have the money sent to a blind account at your bank so that the person doesn't get your true account info.
SCAM SCAM SCAM
100% scam whenever they say they will pay and then have someone else pick it up for them.
Dismiss it and don't lose any sleep over it
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
I told the guy to call me so we could discuss it, and I have not heard from him since. I figured it was a scam.
Your caution was well taken DAve. thanks for posting this as there is such a variety of scams out there it is good for us to be aware of the variations they can take.
SCAM.
Paypal requires shipping verification. Local pickup, even it is a $10 item = No shipping documentation = Instant paypal fail.
I have spoke to paypal numerous times on this, they do not budge.
Since I sell a lot of big and heavy, local pickup is often very desirable. So, to close the listing, ebay auction, whatever, they can pay with paypal, to hold it, then on pick up, it is CASH, and I refund back their paypal amount.
Any other way, video, Hillary and Donald in a love embrace witnessing the transaction, etc. =
Kiss your stuff good bye.
You cannot dictate that he not use CC with PP. If he uses CC he can claim unauthorized use. He may be even using a hijacked CC or paypal account.
Tell him you will bring the coin to him and to have the cash ready for you. His reply will tell you all you need to know.
No Way Out: Stimulus and Money Printing Are the Only Path Left
+1
Cash only for pickup, at his location or yours.
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.
I've had people try similar scams from Craiglist postings for a measly $10 router.
Run, Forrest, Run.
Tell the buyer you can only do the deal if he pays cash in person.
Happy to hear you did not do the deal.... this is (as mentioned above) a known scam... and it has been around quite a while. Cheers, RickO
Agree with many others on here, it's a scam. Per the original question in the first post, I read on another board where someone sent something, I think it was a piece of sports memorabilia like a jacket, and a CC/PayPal chargeback was initiated by the buyer over a year later.
I would need a Cashiers check from his bank and he would get the coin once it cleared as confirmed by my bank and his.
When they have screwball demands, its a scam.