Those who refuse to buy from those who don't accept paypal are missing out on some good deals.
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
My point is that I understand the plus and minuses of PAYPAL but is simply too expensive in my opinion. I understand some people wont buy but I am willing to sacrifice. I'm just sick of hearing No PAYPAL=No Bid. Just don't bid!!
As a buyer, PayPal is the only way to go. You complain to PayPal if you don't get your package or item not as described. Most of the time the Buyer wins and the money taken out of seller's paypal account automatically and comes back to you. No hassles about arguing refund, negotiating with a seller. It's pretty cut and dried. If the seller substantially misrepresented what you bought or failed to deliver, you get your money back.
As a seller, I don't like paying the 3% to PayPal but the convenience is worth it me since I sell alot less than I buy. A buyer uses PayPal you can automatically print shipping label with postage taken from your PayPal account. Slap that printed label on fat envelope or box and drop it by the post office. It saves me a lot of time. And TIME IS MONEY.
I will no longer take paypal on items over $1000, because as a seller I have no protection at all. If a customer uses a credit card to pay for an item and they don't honor the charge with thier credit card company then paypal will charge you back(the seller protection is only good to $1000)
Either write something worth reading or do something worth writing about. -Benjamin Franklin-
Upon reflection, I feel that I need to post again. No offense to Mr. D, but this attitude is quite prevalent among coin dealers. Not that they won't accept pay pal, but that they generally don't give a crap about making the customer/potential customer happy. I know that this issue has been beat to death here in the forum, but I think that this is a prime example.
Sorry if this ruffles your feathers
EDITED TO ADD: After reading Mr. D's second post in which he elaborates on his first post, I withdraw my complaint ... sort of
Those who refuse to buy from those who don't accept paypal are missing out on some good deals.
i will look for paypal sellers on something generic like CD's, but on things like coins if you can put up with a little inconvenience you can sometimes get good deals. Paypal pays for itself in convenience to the seller- people will bid higher just for the convenience-I do--it saves me time,postage and i can pay instantly.It is easy,fast and your check can't get lost in the mail. Bob
A large majority of the coins I buy off of eBay are from sellers that do not accept PayPal. I have never had a problem with any of those purchases. PayPal charges too much and will clawback funds at the drop of the hat, so I can see why some sellers don't like to use it.
Good point. Would buyers be so adament if they had to pay the fee or at least 1/2 of it for the convinience and safety. Understand this. I am very happy with the prices I get on my auctions. I just don't care for people telling me what I need to do.
<< <i>Paypal is convenient for your customer, and it provides them another layer of protection. >>
Precisely why THEY should pay the fee. I can understand why you would be sick of hearing it tho. >>
How would you feel if you went to a restaurant and were charged extra for using your credit card? Edited to add: I don't utter a word about not accepting paypal, I just pass the auction by quietly.
<< <i>How would you feel if you went to a restaurant and were charged extra for using your credit card? >>
If I know in advance that I pay extra to use the card I can deal with that or leave a smaller tip. The thing is that a restaurant can figure the 3% into its prices. If you sell on eBay in the most advantageous way [that is no reserve or high first bid] then you have NO CONTROL over what your item will sell for.
I've often heard, if they are not b..tching, you just aren't charging enough ! Sounds like you are on track to me
P.S. Who is "The Management", anyway ?
Also, I side with the store owner. There is little we can do except start our own little auction house online.........let's call it : O-boy.com
short of that, the cost of doing business is a huge slice into profits. That happens everywhere. If you are so cheap that you exclude customers because you won't accept a convenience of payment, then that same snobbiness will keep certain customers away from your door anyway. The bottom line is profit. After Uncle Sam gets his, what's left over isn't much and ebay and her harlot sister PAYPAL along with the morticians (NGC, PCGS, and all the other slabbers) all get their cut. WHat is left is hard working people with coins that all the sharks have taken a bite out of. Now comes the serious question:
I accept paypal because I am certain that my auctions will yeild at least 5% more on average because it is an option for the buyer. I wont say that I dont bid if someone doesnt accept paypal. But for one, I never bid strong if they dont take it. And for two, I have to absolutley want the coin. Point blank, as a buyer, I'd rather pay more and have the convienence of not having to write a check and then wait another two freeken weeks for the thing to clear. And I'd rather change a flat tire than go through the trouble of getting a money order or bank check.
I dont like losing the 3% anymore than the next seller, but at least I know the check wont bounce. It also simplifies my taxes at the end of the year so much that it's actually worth the 3% to me.
I would argue that most people dont complain to you about your not accepting paypal. They just follow your advice. They dont bid and instead drive other peoples auctions higher.
Good point. Would buyers be so adament if they had to pay the fee or at least 1/2 of it for the convinience and safety. I'd have no problem with paying half for the convinience and safty. I've always thought the buyer should pay at least some of the paypal fee. If nothing else, how about 40 cents. A stamp, envenlope, and check would cost more than that.
I just don't care for people telling me what I need to do. It's your time, buisness, and money. I'd tell you not to care about them. But that would be telling you what you need to do.
In defense of the author, I must also say .... Where the fees are contingent based on sale price, a seller is much like the victim of rape. There should be limitations on the charges with percentage points decreasing as value increases. I would hate to think I won a hundred million dollar lottery , only to end up with 20 million. What sort of math is this ?
bajjer, trinketts... I like you guy's way of thinking, too !
I think I've presented my side of the story and although this discussion is likely to go on for some time, I feel I have made my point. Its not that I don't appreciate convinience to my customers. That couldn't be further from the truth. I go out of my way to keep customers happy. With the expenses associated with Ebay in general(approx. 3 1/2 percent on average) I feel that another 3% is too much for me(or my consignors) to absorb. I used to accept bidpay for the convinience but they went out of business because buyers didn't want to pay the fees either....and I can't blame them!
I will not buy on eBay except using PayPal - they do offer an extra level of security. Maybe not a very strong level but everything helps! And, for me, the convenience is wonderful - I pay instantly and no trips to the post office are required.
I don't mind paying some extra to the seller for the use of PayPal - But if a seller just plain refuses PayPal, I just plain refuse to offer him my money.
I get charged 2.2% + 30c and then I use their PayPal Mastercard to get 1.5% back on purchases, so the net cost is 0.7%
Plus I get the 4.5% PayPal dividends while the money sits there.
When I buy something I always assume they take PayPal (except for greattonning) and when I check out and see only Money Order/Personal check options I grumble about it.
Not accepting PayPal is a poor business decision and is likely costing the seller money. Visible costs often are secondary to hidden costs, but unfortunately most people focus on the visible costs because they are easy to see. Hidden costs are more often than not the reason for business failures. The hidden cost here is the substantial shallowing of the bidding pool. And in the auction world, increasing the bidding pool should be the number one priority. Ask yourself why you choose eBay vs. Overstock or Yahoo? Both are less expensive I believe. The difference is the size of the bidder pool.
Paypal fees got to be too much for me. I'm just a small time collector selling dupes and extra stuff I've lost interest in. I much prefer receiving money orders than paypal... but that's just me.
Leo
Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;
You people can go ahead an enjoy Paypal. I'll never accept it. The expenses are high enough on Ebay as it is. AND I've heard too many horror stories from the dealers who accept it.
As for me, Ebay is more trouble that it is worth. It's mostly a dumping place where dealers sell the items they can't sell at the shows.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
Lets assume PAYPAL cost 3%. If I make a gross 15% on my auctions then the way I figure PAYPAL is a 1/5 partner should I decide to eat the fees and not pass them on. To me there is nothing hidden here except a sore rear end.
It would be interesting to run two groups of like auctions at once: one group in which PayPal is accepted and another in which it is not. Then, compare the results of the auctions: total amount realized as a percent of expected or Greysheet, time to receive payment, and note any additional hassles associated with payment. Somebody please repeat this exercise and report the results back to the forum. Personally, I accept PayPal on the few auctions I run. If I were doing this for a living, I would have to analyze it more carefully.
Accepting PayPal, (or credit cards for that matter), increases revenue more than enough to compensate for the fees involved. Anybody who argues otherwise is delusional.
<< <i>Sellers can always accept Paypal. mark up their prices and then give a discount for people who don't use it to pay. I have seen some sellers do it. >>
If I could be assured of at least getting a minimum amount for the item I list then I mite willingly embrace PreyPal. Nuthin worse than having an item sell at a loss the have to pay those frikken eBay and PreyPal fees to boot.
<< <i>Sellers can always accept Paypal. mark up their prices and then give a discount for people who don't use it to pay. I have seen some sellers do it. >>
Those sellers are violating the terms, or at least the spirit, of PayPal's and eBay's TOS. Someday, they'll get smacked, and blame PayPal for it when it's their own damn fault.
<< <i>How can you do that? Charge a buyers premium? >>
Start auction at a slightly higher price of what you would have started (inbuilt fees).... at the end give a discount for people paying with check. If I see this and is a high priced item then I would surely pay by check. If this were a low priced one, then as well pay the extra fees to save the hassle.
Even with all the fees associated with eBay and Paypal--The total comes to less than a regular auctioneer fees---Auctioneer fees in my area are 20-25%. Now that is a lot and you have much less of a market and will likely get less for the things that you want to sell.The Total is actually a bargain at about 6-15% all fees included and a worldwide clientel basis.
How can you do that? Charge a buyers premium?
You can charge a little more for P/H. Like 50 cents to a $1.00 and it is perfectly Ok. Then you can give discounts to those who pay with check or MO if you want. This is all coture and is allowable under eBay rules.
I believe I'm the one that prompted this thread because of a comment I made elsewhere. I simply stated that I was sorry we wouldn't be doing business because you don't offer PayPal or accept Visa/Mastercard directly (in other words it's not strictly a PayPal issue).
You seem to have taken this personally. It wasn't meant that way. It's the way I do business (just as you make the decision to do business the way you feel comfortable).
I have over 1,400 Ebay transactions to date, both as a buyer (primarily) and as a seller. When I buy on Ebay, I will not buy from someone who does not accept either PayPal or credit cards. In these days of fraud and scams, I just do not feel comfortable doing otherwise.
In the other thread you made the comment "Seriously though with my feedback are you really concerned about safety?"
Yes. I am. I've been ripped off by people with higher feedback totals than you. That's not meant as a dig, just reality. I don't know you. I've never dealt with you. Paying by check or money order leaves no recourse in a worst-case scenario.
Another reason: I like the convenience of instant payment. I abhor having to either get a money order or pay via check, wait 1-2 weeks for the check to be received and deposited, another week or so for the check to clear, before the merchandise ever ships. It's a pain in the ass. Maybe I'm too impatient, but it's an instant-gratification world.
Another reason: I don't necessarily have the cash to make an impulse purchase, but I can put it on a credit card. No, getting a cash advance is not an option at 20-30% cash advance rates.
As far as the 2.9% + 30 cents per transaction (less for higher volume sellers) that PayPal charges, I find that to be less expensive than most credit card merchant accounts (no monthly fee).
Sure, you have the right to not accept PayPal or credit cards, and I have the right not to buy from you. No harm no foul. It's a big world out there and there are plenty of buyers for you and plenty of sellers for me.
It does not make me angry. My point is when I am in a discussion about a topic that was totally unrelated to PAYPAL or credit card issues, I feel its a bit tiresome that people seize the opportunity(and believe me you are not the only one) to let me know in a public forum that my policies concerning PAYPAL are for lack of the proper words,a poor business decision. The statement that I would never buy from a seller because.... takes your personal feeling about a policy and in my opinion tries to influence others that perhaps they should consider that course as well. Its just a feeling I get and its probably just me being paranoid. I work very hard at customer satisfaction and believe me if someone really wanted an item there would be a way to make ironclad sure that there wouldn't be a problem through strong refernces.
Comments
Any seller not accepting paypal is costing themselves money.
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
Russ, NCNE
<< <i>Those who refuse to buy from those who don't accept paypal are missing out on some good deals. >>
But there's also plenty of good deals out there from sellers that do accept paypal.
<< <i>Am I wrong? >>
No. It's your listing so you can do as you please. If folks don't like it, pass it on by.
As a seller, I don't like paying the 3% to PayPal but the convenience is worth it me since I sell alot less than I buy. A buyer uses PayPal you can automatically print shipping label with postage taken from your PayPal account. Slap that printed label on fat envelope or box and drop it by the post office. It saves me a lot of time. And TIME IS MONEY.
Sorry if this ruffles your feathers
EDITED TO ADD: After reading Mr. D's second post in which he elaborates on his first post, I withdraw my complaint ... sort of
i will look for paypal sellers on something generic like CD's, but on things like coins if you can put up with a little inconvenience you can sometimes get good deals. Paypal pays for itself in convenience to the seller- people will bid higher just for the convenience-I do--it saves me time,postage and i can pay instantly.It is easy,fast and your check can't get lost in the mail. Bob
<< <i>Paypal is convenient for your customer, and it provides them another layer of protection. >>
Precisely why THEY should pay the fee. I can understand why you would be sick of hearing it tho.
edit to add :
Nice website. And pay pal is expensive
``https://ebay.us/m/KxolR5
I have never had a problem with any of those purchases. PayPal charges too much and
will clawback funds at the drop of the hat, so I can see why some sellers don't like to use it.
<< <i>
<< <i>Paypal is convenient for your customer, and it provides them another layer of protection. >>
Precisely why THEY should pay the fee. I can understand why you would be sick of hearing it tho. >>
How would you feel if you went to a restaurant and were charged extra for using your credit card?
Edited to add: I don't utter a word about not accepting paypal, I just pass the auction by quietly.
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
<< <i>
How would you feel if you went to a restaurant and were charged extra for using your credit card?
>>
Back in the 80's, this was common practice at every gas station.
PCGS, ANACS, & NGC Certified Coins on My Website.
<< <i>How would you feel if you went to a restaurant and were charged extra for using your credit card? >>
If I know in advance that I pay extra to use the card I can deal with that or leave a smaller tip. The thing is that a restaurant can figure the 3% into its prices. If you sell on eBay in the most advantageous way [that is no reserve or high first bid] then you have NO CONTROL over what your item will sell for.
<< <i>The choice would be mine but I wouldn't complain to management..... and thats pecisely my point >>
I agree with you. I wouldn't say a word, but I probably wouldn't return, either.
P.S. Who is "The Management", anyway ?
Also, I side with the store owner. There is little we can do except start our own little auction house online.........let's call it : O-boy.com
short of that, the cost of doing business is a huge slice into profits. That happens everywhere. If you are so cheap that you exclude customers because you won't accept a convenience of payment, then that same snobbiness will keep certain customers away from your door anyway. The bottom line is profit. After Uncle Sam gets his, what's left over isn't much and ebay and her harlot sister PAYPAL along with the morticians (NGC, PCGS, and all the other slabbers) all get their cut. WHat is left is hard working people with coins that all the sharks have taken a bite out of. Now comes the serious question:
At which point do you close up shop ?
``https://ebay.us/m/KxolR5
<< <i>I've often heard, if they are not b..tching, you just aren't charging enough >>
Or if it doesn't hurt you aint giving enough.
I dont like losing the 3% anymore than the next seller, but at least I know the check wont bounce. It also simplifies my taxes at the end of the year so much that it's actually worth the 3% to me.
I would argue that most people dont complain to you about your not accepting paypal. They just follow your advice. They dont bid and instead drive other peoples auctions higher.
Good point. Would buyers be so adament if they had to pay the fee or at least 1/2 of it for the convinience and safety.
I'd have no problem with paying half for the convinience and safty. I've always thought the buyer should pay at least some of the paypal fee. If nothing else, how about 40 cents. A stamp, envenlope, and check would cost more than that.
I just don't care for people telling me what I need to do.
It's your time, buisness, and money. I'd tell you not to care about them. But that would be telling you what you need to do.
David
bajjer, trinketts... I like you guy's way of thinking, too !
``https://ebay.us/m/KxolR5
With the expenses associated with Ebay in general(approx. 3 1/2 percent on average) I feel that another 3% is too much for me(or my consignors) to absorb. I used to accept bidpay for the convinience but they went out of business because buyers didn't want to pay the fees either....and I can't blame them!
I feel much better now
I don't mind paying some extra to the seller for the use of PayPal - But if a seller just plain refuses PayPal, I just plain refuse to offer him my money.
Coin Show Schedules - www.CoinShowDates.com
<< <i>I don't know about anyone else but I'm sick of hearing this.
Why getting sick? Simply ignore will do. That's not too hard, is it?
<< <i>I don't know about anyone else but I'm sick of hearing this.
Curious. A sales strategy that specifically excludes bidders. How's that workin' for ya?
I don't hate PayPal as much I as used to.
I get charged 2.2% + 30c and then I use their PayPal Mastercard to get 1.5% back on purchases, so the net cost is 0.7%
Plus I get the 4.5% PayPal dividends while the money sits there.
When I buy something I always assume they take PayPal (except for greattonning) and when I check out and see only Money Order/Personal check options I grumble about it.
My posts viewed
since 8/1/6
<< <i>I don't know about anyone else but I'm sick of hearing this.
Doesn't bother me a bit but I will take paypal on smaller purchases up to $1500.00 ( I don't have many of these )
Beyond that it's certified bank check only
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Leo
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
As for me, Ebay is more trouble that it is worth. It's mostly a dumping place where dealers sell the items they can't sell at the shows.
<< <i> If you don't want to bid then don't. >>
On to the next ebay gripe...
Russ, NCNE
>>
Back in the 80's, this was common practice at every gas station.
It still is, at least here in San Diego, where we routinely lead the nation in high fuel prices.
<< <i>Sellers can always accept Paypal. mark up their prices and then give a discount for people who don't use it to pay. I have seen some sellers do it. >>
If I could be assured of at least getting a minimum amount for the item I list then I mite willingly embrace PreyPal. Nuthin worse than having an item sell at a loss the have to pay those frikken eBay and PreyPal fees to boot.
<< <i>Sellers can always accept Paypal. mark up their prices and then give a discount for people who don't use it to pay. I have seen some sellers do it. >>
Those sellers are violating the terms, or at least the spirit, of PayPal's and eBay's TOS. Someday, they'll get smacked, and blame PayPal for it when it's their own damn fault.
<< <i>How can you do that? Charge a buyers premium?
Start auction at a slightly higher price of what you would have started (inbuilt fees).... at the end give a discount for people paying with check. If I see this and is a high priced item then I would surely pay by check. If this were a low priced one, then as well pay the extra fees to save the hassle.
How can you do that? Charge a buyers premium?
You can charge a little more for P/H. Like 50 cents to a $1.00 and it is perfectly Ok. Then you can give discounts to those who pay with check or MO if you want. This is all coture and is allowable under eBay rules.
You seem to have taken this personally. It wasn't meant that way. It's the way I do business (just as you make the decision to do business the way you feel comfortable).
I have over 1,400 Ebay transactions to date, both as a buyer (primarily) and as a seller. When I buy on Ebay, I will not buy from someone who does not accept either PayPal or credit cards. In these days of fraud and scams, I just do not feel comfortable doing otherwise.
In the other thread you made the comment "Seriously though with my feedback are you really concerned about safety?"
Yes. I am. I've been ripped off by people with higher feedback totals than you. That's not meant as a dig, just reality. I don't know you. I've never dealt with you. Paying by check or money order leaves no recourse in a worst-case scenario.
Another reason: I like the convenience of instant payment. I abhor having to either get a money order or pay via check, wait 1-2 weeks for the check to be received and deposited, another week or so for the check to clear, before the merchandise ever ships. It's a pain in the ass. Maybe I'm too impatient, but it's an instant-gratification world.
Another reason: I don't necessarily have the cash to make an impulse purchase, but I can put it on a credit card. No, getting a cash advance is not an option at 20-30% cash advance rates.
As far as the 2.9% + 30 cents per transaction (less for higher volume sellers) that PayPal charges, I find that to be less expensive than most credit card merchant accounts (no monthly fee).
Sure, you have the right to not accept PayPal or credit cards, and I have the right not to buy from you. No harm no foul. It's a big world out there and there are plenty of buyers for you and plenty of sellers for me.
Why does this make you angry? I don't get it...
1/2 Cents
U.S. Revenue Stamps