Ebay Poll: Would you take Paypal on a $3,000 to $4,000 card?

frankhardy · June 30, 2008 8:43AM

In the near future, I will be listing a card that should bring $3,000 to $4,000. The question is simple - would you take Paypal?

I have always taken Paypal due to the fact that I (along with many others) simply pass on auctions (when buying) if Paypal is not accepted. That is simply due to convenience. I always thought that (as a seller) the Paypal fees incurred are almost always made up by more bids.

On the other hand, if I am looking to buy a card that I really, really need, or one that rarely comes up for sale, I will bid even if the seller doesn't accept Paypal.

On a card this expensive, the Paypal fees will be ridiculous. Will there be enough "no Paypal" bidders to offset the "Paypal only" bidders on a card in very high demand?

Rogermnj · June 30, 2008 8:47AM

it depends on the card, i think vintage buyers are use to not using paypal on high end stuff. On shiny stuff i suspect more of the buyers would pass.

I know that might not make sense but I find it to be true.

You are looking at about $100 in paypal fees on a $3500 card so I guess that is the question. Do you lose $100 in bids? I would say no to vintage, yes to modern

thenarcissus01 · June 30, 2008 8:47AM

No paypal, no bid especially on high dollar items.

Leiascards · June 30, 2008 8:48AM

I would. You are going to chase away alot of bidders by not taking it.

Leiascards · June 30, 2008 8:48AM

Also depends on whn your account was created, if it was created in the past couple of years you won't have a choice.

11235813 · June 30, 2008 8:51AM

What's the card?

Unless you need the $$$ right away, I would seriously consider selling the card through an auction house instead of Ebay.

Between Ebay & PayPal, you're going to be giving up roughly 10-15% of the final sale price, whereas with an auction house, not only are consignment fees these days only 0-5% (I sold some stuff through Mile High at 2% last winter), but you also don't have to stress out about receiving payment (since buyers are screened at many auction houses).

Memory Lane, for example, is still accepting consignments for their auction in August, meaning that you'll see your money in roughly 90 days.

perkdog · June 30, 2008 8:56AM

No way I would pay for a card like that without Pay-Pal

Allen · June 30, 2008 9:03AM

I just sold something that high and I did not take paypal on that auction. I think the bidding went just as high as it would have. I was more worried about a buyer using a stolen credit card or pulling the empty box return. Evil buyers have all of the power right now so I am not going to risk getting burned.

Do not take PayPal for any amount that you would not be fine to get ripped off for and end up with no money and no item.

fkw · June 30, 2008 9:08AM

No, not if the buyer had other options. You will lose a big chuck to PayPal fees.

Take a Money Order or personal Check and let it clear.

But if thats the only way the buyer will pay or the deal is off, then I would.

Edited to add I was not thinking along an eBay transaction, I was thinking more of a personal transaction as thats the way I usually sell.

PoppaJ · June 30, 2008 9:11AM

Depending on the card, you could always do a Fixed Price listing and include the PayPal fee in the price.

Seems like many high end vintage cards, recently, are selling above VCP prices.

Another thing to consider is... how fast do you want your money?

Why wait for payment through the mail and perhaps then have to wait for a check to clear too?

Lots of options, but personally .... I'd take PayPal.

Good luck no matter which way you decide to go.

PoppaJ

Estil · June 30, 2008 9:21AM

It sure would be nice to have a card worth that much to sell!

earlycalguy · June 30, 2008 9:41AM

<< What's the card?

Unless you need the $$$ right away, I would seriously consider selling the card through an auction house instead of Ebay.

Between Ebay & PayPal, you're going to be giving up roughly 10-15% of the final sale price, whereas with an auction house, not only are consignment fees these days only 0-5% (I sold some stuff through Mile High at 2% last winter), but you also don't have to stress out about receiving payment (since buyers are screened at many auction houses).

Memory Lane, for example, is still accepting consignments for their auction in August, meaning that you'll see your money in roughly 90 days. >>

How does ebay/paypal get 10-15%? paypal is 2.9% and ebay fees - if the auction goes for 3k - are around 3%.

storm888 · June 30, 2008 9:42AM

I would take PayPal. BUT, there are risks.

On expensive items, I call the buyer BEFORE I ship. If I cannot reach him,
I send an email and tell him to call me. Over $2K on PayPal, and I want to
chat with him to make sure he knows he just bought something. Less than
$2K, I just ship it.

I have had chargebacks on stolen-card buys for $10. And, I have had smooth
deals as high as $9K on PayPal.

I would list the item at a Very HIGH BIN and lower the price a little each day.
(I would use Immediate Payment Required.)

Or, I would use a HIGH reserve on an auction. (I don't like auctions, but many
folks do.)

If I didn't want the money right away, I would give the card to Memory Lane.
They might negotiate for low/no fee.

WinPitcher · June 30, 2008 9:49AM

Depends, you could ask that question all the while linking the card in question, then
when you have some bids on it you get an offer offline and sell it that way.

In all seriousness it depends on the card. If it is rare enough I don't see a problem selling it
without paypal. Many buyers understand why some do not want to take paypal.

Steve

Leiascards · June 30, 2008 9:51AM

The fees on a 3000.00 card would not be 10-15% I just sold an item for 172.49 Ebay fees were 7.39 Paypal was 5.48. Thats not even 10%. They get cheaper as the price goes higher.

Paypal fees on 3,000.00 would be around 100.00. Ebay fees would be about 55.00. Thats only 5% of a 3000 dollar card

I have a CC chargeback going right now on a 3.00 item

grote15 · June 30, 2008 10:09AM

I would not. In addition to the Paypal fees, the thing that would worry me more would be if the seller were to try and screw me somehow with a chargeback. It's not worth the potential headache, IMO. Especially these days when Paypal sides with the buyer virtually every time. There have been some very honest sellers ripped off for big ticket items. All it takes is one time. I have also found that if you are well established with an exceptional feedback rating, that you will not lose as much as you think by not accepting Paypal, at least that has been my experience with the few items I've sold that are over 1K in value.

Leiascards · June 30, 2008 10:14AM

If you cover all your bases Paypal and follow the SPP to the letter Paypal will cover you.

Also depending on when his account was created there may not be a choice in the matter. If your account was created in the past 2 years a seller has to accept Paypal or have their own CC merchant account set up.

grote15 · June 30, 2008 10:19AM

If you cover all your bases Paypal and follow the SPP to the letter Paypal will cover you.

It has already been documented on these boards (the coin boards in partucular) where honest sellers were ripped off by scamming buyers.

Leiascards · June 30, 2008 10:30AM

Thats coins, read the SPP for coins. I don't know if it still is but it used to be considerably different. I have not seen one case where the seller did not make a mistake that got their SPP voided.

They have changed the coin SPP, but basically the way it was set up sellers had no protection at all when selling coins.

frankhardy · June 30, 2008 10:46AM

I have been an Ebay seller since 2001. So, the 2 year thing is moot.

The card in question is a 1952 Topps Mantle PSA "Authentic". It is the one that was recolored. Now, go ahead everybody and debate whether or not I will get that much out of it. I tend to think that I will. I definitely won't take less. Anyway, keep the opinions coming. I still have a decision to make about it. There are very good points made on both sides. I still don't know.

Clemaz · June 30, 2008 10:50AM

Try selling it without aceppting paypal. If you have no takers than sell it accepting paypal. What do you have to lose, except listing fees?

Leiascards · June 30, 2008 10:53AM

A card like that it is very doubtful you will run into a scamming buyer. Buyers of vintage cards are not likely candidates to scam a seller.

chaz43 · June 30, 2008 12:21PM

Never. Only cashiers check. chaz

grote15 · June 30, 2008 12:27PM

Buyers of vintage cards are not likely candidates to scam a seller.

I admire your faith in humanity!

nightcrawler729 · June 30, 2008 12:28PM

Here's a handy website for calculating eBay fees. Looks like it'd be around 7% max.

eBay Fee Calculator

WinPitcher · June 30, 2008 2:23PM

Shane does that mean the card was slabbed by PSA?

Steve

cardbender · June 30, 2008 3:11PM

Did you try selling it to Levi at 707? He's always buying '52 Mantles and he'll pay strong for them. Solid guy to deal with too.

I've never had a problem auctioning or using BIN on a more expensive card and taking paypal. Vintage card buyers are usually top notch. Just ship to a confirmed address and cover you a$$ with insurance/signature confirmation, etc...

On newer cards from the 1980's and '90's it's a different story. Problems abound.

Good luck,

Rich

Allen · July 1, 2008 12:38AM

So did you restore the Mantle and get it slabbed? I missed the ending to that story.

Leiascards · July 1, 2008 1:22AM

<< Buyers of vintage cards are not likely candidates to scam a seller.

I admire your faith in humanity! >>

As a buyer I would be worried more about the seller NOT taking Paypal. No Paypal=No Purchase online for me unless I know the seller.

sagard · July 1, 2008 1:27AM

Did you get the Mantle fixed?

SKINSFAN · July 1, 2008 1:36AM

If you require a echeck if they pay by paypal the cost to you is only 5 bucks

smtjoy · July 1, 2008 1:37AM

I made one 3 grand sale last year and I took paypal, he had solid feedback and a long history of buying expensive cards. Worked out fine for me.

I have done the same for 3-4 1k sales and they all worked fine.

frankhardy · July 1, 2008 3:34AM

I did not have the Mantle restored. I was going to cost a fortune. I just decided to slab it as is. It is on its way to PSA.

Allen · July 1, 2008 3:45AM

I recently did a $5k+ sell and stated in the listing I accept PayPal only from a confirmed address. So I get a buyer who the ebay email says is from FL send me a paypal payment for $5K+ with an unconfirmed shipping address in Las Vegas, NV. So I am already thinking scam and I contact the guy and he says he is moving to Vegas and offer to send an official check. He does and everything works out. But if you get a buyer like that and they want to be a jerk they can neg you and you are defenseless and you have to relist your high end item with your new lowered feedback score and a negative for the same item on the first page of your feedback. So that is why all of my transactions over $2K do not offer PayPal.

Leiascards · July 1, 2008 3:54AM

<< I recently did a $5k+ sell and stated in the listing I accept PayPal only from a confirmed address. So I get a buyer who the ebay email says is from FL send me a paypal payment for $5K+ with an unconfirmed shipping address in Las Vegas, NV. So I am already thinking scam and I contact the guy and he says he is moving to Vegas and offer to send an official check. He does and everything works out. But if you get a buyer like that and they want to be a jerk they can neg you and you are defenseless and you have to relist your high end item with your new lowered feedback score and a negative for the same item on the first page of your feedback. So that is why all of my transactions over $2K do not offer PayPal. >>

That still does not stop the scam from being attempted. They can bid and win and then say they will only pay with Paypal. The seller is still powerless to stop it and the negative feedback effect is the same.

11235813 · July 1, 2008 4:00AM

And that is why the best option is to consign it to an auction house.

You don't have to worry about receiving payment.
You don't have to worry about negative feedback.
You get a higher percentage of the final sale price that you do with Ebay.

Only downside is that you have to wait a while for your $$$.

Leiascards · July 1, 2008 4:04AM

You get a higher percentage of the final sale price that you do with Ebay.

No you don't. Most auction houses are going to charge at least 10%. Ebay AND Paypal fees are only going to be between 5 to 7%. Depending on if you qualify for a FVF discount or not. If you get 15% they will be closer to 4%

Allen · July 1, 2008 4:10AM

Most auction houses are going to charge you 0% on a 52 Topps Mantle.

frankhardy why are you selling this card so soon?

11235813 · July 1, 2008 4:37AM

<< No you don't. Most auction houses are going to charge at least 10%. >>

Leia, you must not have consigned to an auction house lately.

Most auction houses are offering consignment fees of 1-2% on just about everything, and as Allen mentioned, some are doing 0% on high value items. The competition is so fierce for good items, that auction houses are now focusing on getting their money from buyers, who get charged anywhere from 15-25%, instead of sellers.

And while some argue that the buyer's premium suppreses prices at auction houses, I have not found that to be the case. Whereas you can often grab PSA 9 stars for 60-70% of SMR on Ebay, similar items rarely sell for less than 90% of SMR through an auction house. You also have a very different population of buyers at auction houses than on Ebay. Whereas many Ebay buyers are bargain hunters who never bid without their SMR (or VCP) nearby, many auction house buyers are high rollers for whom price is no object and who are only vaguely familiar with price guides.

PoppaJ · July 1, 2008 5:18AM

<< 

<< No you don't. Most auction houses are going to charge at least 10%. >>

Leia, you must not have consigned to an auction house lately.

Most auction houses are offering consignment fees of 1-2% on just about everything, and as Allen mentioned, some are doing 0% on high value items. The competition is so fierce for good items, that auction houses are now focusing on getting their money from buyers, who get charged anywhere from 15-25%, instead of sellers.

And while some argue that the buyer's premium suppreses prices at auction houses, I have not found that to be the case. Whereas you can often grab PSA 9 stars for 60-70% of SMR on Ebay, similar items rarely sell for less than 90% of SMR through an auction house. You also have a very different population of buyers at auction houses than on Ebay. Whereas many Ebay buyers are bargain hunters who never bid without their SMR (or VCP) nearby, many auction house buyers are high rollers for whom price is no object and who are only vaguely familiar with price guides. >>

You hit the nail on the head....

After following a few suggestions from a thread that we posted last month, we decided to contact 3 top auction houses last week about selling our 40 year collection.

Each one of them offered us a 0% consignment fee, and they are still contacting us with offers trying to outdo the others.

Also, you're not far off on the 90% of SMR price either.

PoppaJ

frankhardy · July 1, 2008 6:56AM

<< Most auction houses are going to charge you 0% on a 52 Topps Mantle.

frankhardy why are you selling this card so soon? >>

I bought it to flip from the beginning. With me building a poor 52 set, I wish that I could afford to keep it. I plan on taking any profits and adding to my 52 set. As poor as mine is, I will have to settle for one even poorer than that.

Tabe · July 1, 2008 8:51AM

<< I would take PayPal. BUT, there are risks.

On expensive items, I call the buyer BEFORE I ship. If I cannot reach him,
I send an email and tell him to call me. Over $2K on PayPal, and I want to
chat with him to make sure he knows he just bought something. Less than
$2K, I just ship it. >>

Excellent suggestion here. Calling the guy eliminates a lot of possible scams.

Tabe

frankhardy · July 2, 2008 10:42PM

I am pretty sure that I will be using Ebay just for convenience sake. I have never used an auction house.

I still have not decided about Paypal. I have a question about seller protection. I know that if I follow the guidelines that I can have protection against chargebacks. How do I protect myself from someone that gets a package from me, but says that the box was empty? Let's say I follow all the guidlines (ie signature confirmation, confirmed address, etc), and the scammer says that he got a package but the box was empty. What do you guys suggest?

Allen · July 2, 2008 11:33PM

<< I know that if I follow the guidelines that I can have protection against chargebacks. >>

Wrong. Chargebacks are done by the credit card company and they just take the money from PayPal so PayPal takes the money from you. There is no making a case about anything.

<< How do I protect myself from someone that gets a package from me, but says that the box was empty? Let's say I follow all the guidlines (ie signature confirmation, confirmed address, etc), and the scammer says that he got a package but the box was empty. What do you guys suggest? >>

They can file SNAD and send you an empty box and get the money as soon as the package they send you is scanned. Or they could just crack the PSA case, pull the mantle, stick in a counterfeit and claim you ripped them.

frankhardy · July 3, 2008 12:01AM

I have taken Paypal for years, but that is scary on such a card as this. Especially since it is in high demand. I would think that my 100% feedback would be very helpful in offsetting a "no Paypal" auction.

grote15 · July 3, 2008 10:43AM

Agree with Allen.. This is exactly why I'd never consider accepting paypal for a high end item like this. Not worth the potential headache. Do a Google search on paypal nightmares and you will see how easily you can get screwed even if all rules are followed on your part. While it is highly unlikely such a scenario would take place, I wouldn't be willing to risk it.

stevek · July 3, 2008 10:55AM

Informative thread. I've taken PayPal on some high value items but I may begin reconsidering that.

MeteoriteGuy · July 3, 2008 11:02AM

I take Pay Pal on anything and accept the risk. Playing the numbers game, more people will be turned off and your final bid will be less, greater then the percentage that will rip you off. Meaning, without Pay Pal, you will likely get 10-20% less. 10-20% of the people are not out to rip you off.

Clear Skies,
Mark

thedutymon · July 3, 2008 11:03AM

Good day,
No Way PayPal. Just made a $17,777.00 sale last month. E-Bay fees, listing and Final Val Fee about $350.00. Was Paid with Cashiers Check drawn on U.S. Bank, Ca. Waited 10 Business days to confirm all OK even though my bank said was OK after 3-5 Business days. All done all good!!! Paypal gets enough of my money and provides no Real guarantees, just problems with claims if anything ever bad does happen !!!!!
Neil

Leiascards · July 3, 2008 11:04AM

More untrue statements about Paypal..

If you accept Paypal and follow all the guidelines and a buyer wins a chargeback Paypal will eat the expense. 99.9% of all problems that occur with a Paypal transaction the seller has no one to blame but themselves.

On a 3000 dollar sale Paypal and Ebay only get between 5 and 7% . To me that is worth the risks the item will sell for 10 to 20% more with Paypal involved. On an item like that if I cannot pay with Paypal I will not look any further and find the back button. Most buyers feel the same way.

Allen · July 3, 2008 11:26AM

<< On an item like that if I cannot pay with Paypal I will not look any further and find the back button. Most buyers feel the same way.
>>

I think that the fact that myself and others have succesfully sold items for $5,000- $17,000+ without loosing any bidders and achieveing full value proves that is not true.

Ebay Poll: Would you take Paypal on a $3,000 to $4,000 card?

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