bad news for good ebay coin sellers
Ebay change in policy results in holding all seller funds for all items sold until they see proof of delivery. This includes top rated sellers; they will be losing this one. Yeah, I know, they will eventually give me my money, but they are now grouping me in with their questionable and unestablished sellers; being a good seller is no longer important to them. They say it's to improve safety on ebay. Over twenty years I have established that buyers are safe when they choose me. In the end it will make ebay less safe - they are removing one more incentive to be a good seller.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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It's frustrating. What happens when it's a small value item and you ship something without tracking & the buyer happens to be one of the bums that don't leave positive feedback?
It's a shame something else hasn't replaced Ebay.
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thats one thing im glad i never got into (for various reasons) its a changing world for sure
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So they collect the sellers money, put it in their bank and collect interest on it. Another money grab by eBay. They care zero about their good sellers.
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@Manorcourtman said:
So they collect the sellers money, put it in their bank and collect interest on it. Another money grab by eBay. They care zero about their good sellers.It's more likely that eBay is tired of paying out claims when sellers aren't shipping the merchandise that buyers paid for.
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."----Voltaire6 -
It is a perpetual battle between sellers and buyers. Ebay tries to please one side and that upsets the other side.
The sellers don't want their money held hostage, and buyers want to be protected against damaged/lost/misrepresented/fraudulent purchases.
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Does the new policy apply to untracked sales? I would think not, else how would eBay determine delivery? Would this discourage sellers from using tracking, or increasing their value threshold? I’ve been buying a few untracked low-value items (stamps) lately.
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@PerryHall said:
@Manorcourtman said:
So they collect the sellers money, put it in their bank and collect interest on it. Another money grab by eBay. They care zero about their good sellers.It's more likely that eBay is tired of paying out claims when sellers aren't shipping the merchandise that buyers paid for.
They could create some benefit to being a top rated seller with 100% positive feedback on hundreds or more transactions -- like continue the same payment process as long as you hold that status. But no, it means nothing.
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Didn't realize that. I'm only an occasional seller but I just listed a rather expensive item. Think I might just pull the item down and bring it here to BST or accept the offer I got locally.
Mark
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That change a cash flow delay.
It makes doing shows more attractive for me but there am facing fixed overhead costs may not recover via any sales GM. The other thing is bourse room, travel time, etc.
The Bay one knows what parameters dealing with to plan pricing accordingly for positive ROI.
Investor1 -
They have a virtual monopoly and make their own rules.
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Can you link to this policy? I just got a bank deposit today for items that were paid on Sunday evening. They won’t be shipped until this afternoon. Funds for items paid yesterday are listed as becoming available later today.
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@airplanenut said:
Can you link to this policy? I just got a bank deposit today for items that were paid on Sunday evening. They won’t be shipped until this afternoon. Funds for items paid yesterday are listed as becoming available later today.Same here
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."1 -
i see news from late 2024in the uk stating this will be in 2025, but nothing indicating the us
https://www.ebay.com/help/selling/getting-paid/getting-paid-items-youve-sold/payments-hold?id=4816
Current maintainer of Stone's Master List of Favorite Websites // My BST transactions2 -
i see no email indicating updates to policies
Current maintainer of Stone's Master List of Favorite Websites // My BST transactions0 -
Just another example of the few ruining it for the many.
"Two things are infinite: human stupidity and the universe; and I'm not sure about the universe."
-Albert Einstein-Mistakes are natural. But repeated mistakes without reflection are something else. That may be the “stupidity” he was referring to. In research, he admitted uncertainty openly. “If we knew what it was we were doing, it would not be called research, would it?” This shows humility. Even a Nobel laureate accepted doubt. That humility makes the quote less cynical and more observational.
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@DCW said:
@airplanenut said:
Can you link to this policy? I just got a bank deposit today for items that were paid on Sunday evening. They won’t be shipped until this afternoon. Funds for items paid yesterday are listed as becoming available later today.Same here
Make it 3. Seems like a bit of fake news or at least exaggerated news. There's also nothing in the ebay updates page. It appears to be specific transactions with holds not a new global policy.
https://www.valueaddedresource.net/ebay-us-funds-held-until-after-delivery-for-some-sellers/
All comments reflect the opinion of the author, even when irrefutably accurate.
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@PerryHall said:
@Manorcourtman said:
So they collect the sellers money, put it in their bank and collect interest on it. Another money grab by eBay. They care zero about their good sellers.It's more likely that eBay is tired of paying out claims when sellers aren't shipping the merchandise that buyers paid for.
Correct. But in the past they excluded top rated sellers. You can't be a top rated seller if you aren't shipping the merchandise the buyer paid for. It's simply a perk that good sellers work hard to earn.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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@JBK said:
It is a perpetual battle between sellers and buyers. Ebay tries to please one side and that upsets the other side.The sellers don't want their money held hostage, and buyers want to be protected against damaged/lost/misrepresented/fraudulent purchases.
Buyers currently have excellent double protection if they purchase on ebay with a credit card.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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Received in my ebay messages
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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Sold a $3K+ coin 4/24, had my auto pay (to me) set for weekly and am now showing hold on item funds. Tracking shows it left FL and is now in NY near its new owner. Not bad for registered. Funds shouldn't be on hold much longer.
@airplanenut said:
It appears to be specific transactions with holds not a new global policy.May well be. Hopefully it's just targeting high value transactions.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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It can be up to three days AFTER they receive proof of delivery before making funds available?! Potentially making a lousy situation even worse.
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If you're sending via a snail-like but safe method such as Registered, I don't suppose another 72 hours or less will make a big difference. This isn't going to change our world much anyway as we have heavily scaled back listings.
RIP Mom- 1932-20120 -
I did not get notice of that policy change either .
I had a situation ( 2 years ago ) where they held about $3,000 ( for a PCGS Certified $20 Gold coin ) of mine for a FULL MONTH after confirmed delivery . The buyer left me GREAT Feedback the day he received the coin .That DID NOT help .A few days earlier i had sold a $2,200 ( another $20 PCGS Gold coin ) item and NO ISSUES .
I did have a dry spell where i was only casually selling items and of much less value . They might have seen that AND over $2,500 ( Ebay rep speculated that to me ) item as a RED FLAG ?I started actively selling a bunch of items last year and waited till i sold dozens of items and accumulated dozens of feedback before listing more expensive items .
I gradually started increasing the value of the items i sold so i would not trip any RED FLAGS and have them hold my $ for more than a full month .It has worked .
NO issues with any "Holds" even though i made made several sales over $2,500 , including a Vintage knife ( $7,600 ) .On that knife i had the $ in my account days before the buyer received knife .
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I remember the day when they had escrow in the 90's. Member since: Jan 07, 1998 This sounds like that - full circle.
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I believe once eBay changed your payout to after delivery confirmation then you payout schedule will stay that way. It is not a temporary thing anymore. I bet it will happen to more sellers later. eBay is testing the water.
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The last time I sold an item, a couple of weeks ago, I was paid after I made the postage label. It's been a while
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Coming from being scammed recently, I hope this helps a bit. Sellers shipping empty packages to a random address in your zip code and showing it was delivered is a problem. Even PayPal sided with the seller.
It was a major PITA to prove that I didn’t get the package.
Derek
EAC 60240 -
I had wondered if ebay was losing money on their “guarantee” because I have dealt with ~25 or so fraudulent sellers in the past year, and eBay always made good on refunding my money, but I feel like they lost the original funds due to the seller accounts being hacked/stolen. Sometimes it took a couple weeks for eBay to acknowledge the account was fraudulent, and I’m pretty sure the funds were gone by that point.
This process should stop some of the bleeding of those funds disappearing. It makes me wonder how some people here have never dealt with a fraudulent seller on eBay, and me personally have dealt with more fraudulent sellers than reputable ones in the past year.
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