Need some thought on this EBAY question

swest · November 27, 2006 7:14AM

Hi all,

I am wrestling with this now for about 1.5 weeks. A guy bought a coin from me for $1800 on ebay. It is a modern and was pretty hyped. Now I can sell the same coin for only $600-$800. It was a PR70 ASE PCGS (of course).

Anyway, he said he sent out a money order which I never received. I let some time tick buy while updating him everyday that I didn't receive it. He said he went to the post office where he got the money order and without the receipt he couldn't get a refund. Now, I am frustrated as I held the coin when I could of sold it to the next buyer at $1800 no problem. He said he would look for the reciept but has had no luck finding it. He also (apparently) didn't put tracking on this package. Now this guy has 100% feedback with 500 transactions. Is he pulling my leg?? I mean, who sends that type of money with no tracking. And he never once countered that I hadn't received it.

He claims he is out $1800 and I am working on if I should give him a neg, unpaid, or what. I don't want a retalitory neg back on me, but this has cost me quite a bit of money.

Let me know your thoughts as I hate to be the guy to ruin a 100% feedback score. He has made no offers to make resitution or anything.

Swest

SilverEagles92 · November 27, 2006 7:17AM

How has it cost you money? You paid $100 for the set, around $40 in grading fees, and you can still sell it for $600-$800. Seems fine to me.

Since it's only been a week and a half, I'd give it a while. First Class mail can be very slow at times. Taking many weeks.

BigBuffaloGuy · November 27, 2006 7:21AM

I believe what he meant to write was that he lost "real money," which, in economic terms, is the difference between what an item could have been sold for minus the purchase price.

BigBuffaloGuy · November 27, 2006 7:28AM

Oh, and my advice to your problem is that there is really nothing you can do, at this point, other than let ebay know of the nonpayment, which will be marked against his account. Leaving a negative feedback is really of no advantage to you, and it may even be to your disadvantage. I think we both know what really happened here, and it is too bad some people have no problem breaking their commitment. It's funny how things like this never happens when the market goes up in price. I have had people buy bullion-related items, then the market goes down $40 for a month or so and they don't pay. Then, the market goes up $80 and all the sudden they want the item again. Such is the life of ebay I guess.

topstuf · November 27, 2006 7:30AM

It seems to me that it is his responsibility to send another money order and file for the lost one. If he didn't keep the MO receipt, he was nuts.
Now this won't get you paid for that coin, but he DID make a deal and you were willing to sell it.
So, let him off the hook if it's worth keeping the neg off the deal.
or
Neg him for the true "NO PAY" and let the chips fall.
Respond to his neg with "Non pay bidder made this negative feedback."

Expect no slack and cut none, or give slack and ask some.

If you hear no more, figure he got "cold feet" and just didn't pay you because no one loses $1800 to the post office and just sluffs it off. Block him from future sales and move on.

swest · November 27, 2006 7:36AM

Actually, the auction has been over for quite some time and when I say a week and a half, he asked that I give him additional time to find the reciept, LONG after the mail would of delivered. So he tied me up a little bit and said he didn't have tracking or the receipt and thus could not get his money back.

I would think that the Post office could look up the transaction, since he has the day,etc. In terms of what it cost me....yes it did cost me about $1000. I had multiple buyers for this coin at the time and at best can sell it for $800. Heck, at the time of my auction ending, two more went for $1999 with Buy it now.

So I am a little frustrated regarding this. Rigth now I am leaning toward giving an unpaid. But I am mad that he has made little effort to communicate and or apologize. I just can't ever imagine a person sending out a $1800 with no tracking and lost the receipt. They guy has over 500 transactions and he just tosses out a MO like that?

Swest

itsnotjustme · November 27, 2006 7:37AM

A few comments.

If your buyer went to the post office for the "money order", it should have been money orders since $1,000 is the maximum.
When you complete the money order, you keep the back half. This way you have a record of the amount and serial number.

I think you have little recourse. It stinks but what can you do? I own 2 of the same coin and am amazed it dropped so fast.

As for SilverEagles92 comment, maybe it wouldn't seam fine to him if he were the coin owner and suffered the same loss of potential profit.

291fifth · November 27, 2006 7:37AM

Didn't save his USPS money order receipts on an $1800 item...right. I believe he would have to have bought two USPS money orders as the max amount is $1000 unless they changed the maximum recently.

bhartman35 · November 27, 2006 7:44AM

Since you've still got the coin in hand, it's not a total loss. If it was me, I would give him all the advice I could about straightening out the money order. If he absolutely can't either get another money order or come up with the money in some other way, I would explain to him what a NPB will do to his Ebay reputation, and tell him that you'll have no choice but to file one, because you could have sold to someone else at that price, if he hadn't played with you like that. Also, you might want to suggest that you'll post negative feedback, that you'll anticipate the same from him, and that that feedback can be mutually withdrawn when/if he is able to deliver the money and take possesion of the coin.

Incidentally, if he negs, you what's that neg going to look like? "Was too impatient to get paid after I lost a money order" doesn't sound like a good comeback to me.

swest · November 27, 2006 7:49AM

Thanks for your info guys.

I just shot the buyer a final email saying the following:

Hi,

It is with true regret, but I have thought this over a lot and feel a negative is in order here. I had several buyers for this item and sold in good faith. I am really struggling with the concept that an ebayer of your reputation and production would EVER send a money order with no tracking on it. And, at the same time lose the receipt as well.

Lastly, I checked with the post office and you would of had to lose both receipts as the money order is maxed out at $1000.

I don't think I have ever left a negative in the 7-8 years being on ebay but feel this situation represents the reason for negatives. I will wait to hear back from you for 24 hours but in the event of hearing nothing, I will move forward.

Sincerely,

Me

itsnotjustme · November 27, 2006 7:51AM

but the neg could say "Cashed $1,800 money orders, kept coin, mailfraud investigation underway, e-mail for details"

bhartman35 · November 27, 2006 7:51AM

<< Thanks for your info guys.

I just shot the buyer a final email saying the following:

Hi,

It is with true regret, but I have thought this over a lot and feel a negative is in order here. I had several buyers for this item and sold in good faith. I am really struggling with the concept that an ebayer of your reputation and production would EVER send a money order with no tracking on it. And, at the same time lose the receipt as well.

Lastly, I checked with the post office and you would of had to lose both receipts as the money order is maxed out at $1000.

I don't think I have ever left a negative in the 7-8 years being on ebay but feel this situation represents the reason for negatives. I will wait to hear back from you for 24 hours but in the event of hearing nothing, I will move forward.

Sincerely,

Me >>

Sounds like you did the best you could. Be prepared to get the neg from him before the 24 hours is up, though.

swest · November 27, 2006 8:04AM

We will have to see what happens. I tried to be as polite and honorable on this one as possible.

Thanks

fengk · November 27, 2006 8:31AM

It's a shame that this happened to you. But hey, what goes around comes around, right? As for the coin, this may be the initial dip of the ASE 20th anniversary market. It may be worth your time to hold onto the coin until the markets start moving upwards again.

swest · November 27, 2006 8:34AM

Actually, I have pretty much decided to save this one for my personal collection.

First Strike, 20th Anniversary PF70 PCGS seems to be a relatively limited situation. At over $1000 I would struggle with keeping it, but right now I am growing attached to it.

Swest

Russ · November 27, 2006 8:47AM

<< I am really struggling with the concept that an ebayer of your reputation and production would EVER send a money order with no tracking on it. >>

You're kidding, right? You've never received a large payment mailed regular first class mail without tracking?

<< I tried to be as polite and honorable on this one as possible. >>

It is neither polite nor honorable to threaten the bidder with negative feedback if you don't hear from them in 24 hours.

Russ, NCNE

swest · November 27, 2006 8:55AM

Russ,

This auction ended on Oct. 31, marked with payment on Nov. 2nd.

He asked for more time, I gave it too him. He hasn't responded in the last week and so I finally wrote this note needing to close this situation.

Are you saying you ship out money orders worth that much with no tracking and also manage to lose two receipts or are you just a contrarion? (is that a word

) Also, a money order, which I paid cash for, would definately be sent with tracking. And yes, I can honestly say I have NEVER received a money order over even $150 without tracking by the buyer.

Swest

jdimmick · November 27, 2006 9:02AM

My Take:

The guy bidded it too high, either didnt have the money, or realized he paid too much and has now seen it cheaper and has no intention of sending the funds. Is making up a story to keep you from leaving a negative. Nobody with any sense sends out a Postal Mo for that much without keeping a reciept (like sending cash).

Your out of the maximum profit potential becuase you wasted time with this guy, as the price continued to fall. The problem is you can only re-list, you cant make him buy it at that price, you have no recourse other than a negative/nonpayer strike, and he knows this.

Russ · November 27, 2006 9:03AM

<< Are you saying you ship out money orders worth that much with no tracking and also manage to lose two receipts or are you just a contrarion? >>

No, I use PayPal. What I'm saying is that I find it hard to believe you've never received a large payment in the mail without tracking. Unless, of course, you haven't done much selling. I've received many without tracking, the largest being over $12,000.

Russ, NCNE

7over8 · November 27, 2006 9:14AM

swest

I am sorry to hear of your problem with another ebayer......

I, too, sold a PCGS70DCAM...but as you remember, I went long on the auction duration - which allowed many other sellers to jump in and suck up the high end prices (my mistake, of course). But as I saw prices drop fast - I rec'd $1100 only a few days later, something tells me the very high end buyers start to "reneg" on thier payments.....make up stories, etc. how the m.o. was lost, etc, etc etc.

I closed my deal and the buyer was happy with the purchase.

It's a typical story that I hate to hear about, but I would NEG the buyer.....no chance he lost receipts, etc., he just saw the price drop and doesn't want to pay. The way EBAY enforces these deals (the don't) forget about this type of situation ever changing.

7over8 · November 27, 2006 9:17AM

russ -

PAYPAL is even WORSE on high ticket items. Those guys lock down your funds on a whim!!!

All buyers have to do is say they are not satified and whamo!!!! a chargeback in progress. If you've ever been through on of those situations, it really is the pits!

By taking MO or Bank Check, at least you can enforce your own refund policy, etc.

pf70collector · November 27, 2006 9:28AM

I have sent MO's over $1000.00 without tracking but not fool enough to lose my receipt for it. Something is wrong here. First you haven't received the payment, likely it was never sent and second he says he doesn't have the receipt. Just my take on it but I could be wrong. I wouldn't neg him though. I would just let it go. Of course I am not a seller on ebay so I really can't give you any advice on feedback if you rely on ebay as part of your income.

bestday · November 27, 2006 9:36AM

<< Didn't save his USPS money order receipts on an $1800 item...right. I believe he would have to have bought two USPS money orders as the max amount is $1000 unless they changed the maximum recently. >>

Another B .S story ...the buyer had 2nd thoughts about paying .... otherwise he would be communicating everyday in the hope his $$ 1,800 money order shows up.

The neg is most needed here !

Conder101 · November 28, 2006 1:11AM

I can understand sending $1,800 in Postal money orders with no tracking because I know I wouldn't bother putting tracking on it. (just like I wouldn't put tracking on a check I mailed for that amount. If the MO got stolen and cashed by someone other than the person it was made out I believe you can get reimbursed,) But there is no way I would throw away the reciepts until they had been received and cashed by the intended person. (Frankly I still have MO receipts from completed transactions from years ago that I still haven't thrown away! Disadvantage of being a packrat.)

Need some thought on this EBAY question

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