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A warning for ebay sellers of expensive coins

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  • ajmanajman Posts: 1,359 ✭✭✭
    I don't know the answer to this problem on eBay, and I've sold a few coins as well as bought many more, but I appreciate the discussion here. My condolences to the seller and hopefully there is something we can all learn from this. Tony.
    Beer is Proof that God loves us and wants us to be happy -Benjamin Franklin-
  • BUFFNIXXBUFFNIXX Posts: 2,727 ✭✭✭✭✭
    I would like to point out for all that there is a way to protect yourself from this type of abuse by fleabay and paypoison. You need to set up a seperate account like I have -- which can be either a savings or a checking account -- and assign this account to fleabay only. I have one such account and it never has more tha, say $50 in it. That way fleabay/paypoison cannot get any large quantity of cash from your fleabay assigned account. You may ask, "How do I manage my cash flow from such an account". If you sell a $1200 bullion gold coin, then once the money is transferred into your fleabay savings or checking account you immediately TRANSRER MOST OF THE FUNDS into another savings or checking account that has no link to fleabay or paypoison. And you may then ask "How do I pay for stuff I buy on ebay" if there is no money in your linked fleabay account. There are two way to do this. First is to immediatly transfer the cash from your other non-linked checking or savings account into your fleabay savings/checking account and then immediately make your purchase payment thru paypal. This works OK but there might still be a day or two where you would be vunerable to the aforementioned scam. HERE IS THE ABSOLUTE BEST WAY. YOU NEED TO GET A PAYPAL BUYERS CREDIT ACCOUNT. When making the fleabay payment for a coin just click on paypal buyer credit. Then you pay thru their bank, which is one of those bloodsucking banks that will charge you 20 percent interst on your balance if you carry one. But right after making your fleabay payment thru paypoison, you immediately make an online payment to the paypal buyer creidt account from your other checking account So in effect the charge on you paypoison buyers credit account is almost immediatley reversed. It simple and it works so smoothly that this should be done by EVERYONE who buys and sells on ebay. There is no way paypoison can get into any of you other accounts which will contain most of you booty. So in summary do the folloinwg.

    1) OPEN UP A NEW SAVINGS OR CHECKING ACCOUNT THAT IS EXCUSIVELY USED FOR RECEIVING FUNDS FROM FLEABAY SALES.

    2) AS SOON AS THE SALES $$$ COME IN TRANSFER MOST OF THE MONEY INTO A SEPERATE SAVINGS OR CHECKING ACCOUNT THAT NOT LINKED TO PAYPOISON.

    3) APPLY FOR A PAYPAL BUYERS CREDIT ACCOUNT (I HAVE A $1500 LINE OF CREDIT WITH THEIR BANK AT THE MOMENT).

    4) MAKE YOUR PURCHASES USING THE PAYPAL BUYERS CREDIT ACCOUNT.

    5) IMMEDIALTY AFTER PAYING THRU PAYPAL BUYER CREDIT MAKE A PAYMENT TO PAYPAL BUYER CREDIT WHICH ESSENTIAL REVERSES THE TRANSACTION.

    THIS IS FLAWLESS AND FOOL PROOF.
    THERE IS NO WAY YOU CAN GET SCAMMED IF YOU DO THIS.

    BUFFNIXX

    Collector of Buffalo Nickels and other 20th century United States Coinage
    a.k.a "The BUFFINATOR"
  • BUFFNIXXBUFFNIXX Posts: 2,727 ✭✭✭✭✭
    One thing I forgot to add, I went to the above system after a friend told me that his son's paypoison account had been hacked into and I think 5 or 6 hundred bucks had been looted from this account which caused many checks of his to bounce. Paypoison did make right the money that was skimmed from his account but refused to make good for the bounced check fees -- so my friends son may have lost a couple hundred bucks on the theft. I have been using the above system for over a year and it works flawlessly. In fact i have to make an online payment right now to paypal buyer credit to cover about $90 worth of coins I bought over the past few days. Everyone should set up this system. Fight back!! regards to all -- buffnixx
    Collector of Buffalo Nickels and other 20th century United States Coinage
    a.k.a "The BUFFINATOR"
  • clackamasclackamas Posts: 5,615
    I suppose the one positive of this is that the word is getting out to sellers. ebay sales, revenue and profit are all down or sideways, after a decade of growth. Could it be the business practices. I was a gold power seller last year, this year I am down to bronze with no sales in the last 3 months. I wonder if they try to reason why? I do wish Google would go after that business. They seem to be the only ones who could. Model it after the old ebay.
  • notwilightnotwilight Posts: 12,864 ✭✭✭


    << <i>

    << <i>I agree, and only sell to buyers with 100% feedback... >>

    Only positive feedback can be left for buyers. 100% ratings are meaningless. >>



    Not to mention that an ebay seller doesn't get to choose his buyers. We get a lot of advice from people who have what seems like good ideas but they haven't really tried to implement them. --Jerry
  • notwilightnotwilight Posts: 12,864 ✭✭✭


    << <i>I suppose the one positive of this is that the word is getting out to sellers. ebay sales, revenue and profit are all down or sideways, after a decade of growth. Could it be the business practices. I was a gold power seller last year, this year I am down to bronze with no sales in the last 3 months. I wonder if they try to reason why? I do wish Google would go after that business. They seem to be the only ones who could. Model it after the old ebay. >>



    I think there is more negative than positive. These types of discussions only encourage the nefarious and ethically challenged to try it. --Jerry
  • notwilightnotwilight Posts: 12,864 ✭✭✭


    << <i>I would like to point out for all that there is a way to protect yourself from this type of abuse by fleabay and paypoison. You need to set up a seperate account like I have -- which can be either a savings or a checking account -- and assign this account to fleabay only. I have one such account and it never has more tha, say $50 in it. That way fleabay/paypoison cannot get any large quantity of cash from your fleabay assigned account. You may ask, "How do I manage my cash flow from such an account". If you sell a $1200 bullion gold coin, then once the money is transferred into your fleabay savings or checking account you immediately TRANSRER MOST OF THE FUNDS into another savings or checking account that has no link to fleabay or paypoison. And you may then ask "How do I pay for stuff I buy on ebay" if there is no money in your linked fleabay account. There are two way to do this. First is to immediatly transfer the cash from your other non-linked checking or savings account into your fleabay savings/checking account and then immediately make your purchase payment thru paypal. This works OK but there might still be a day or two where you would be vunerable to the aforementioned scam. HERE IS THE ABSOLUTE BEST WAY. YOU NEED TO GET A PAYPAL BUYERS CREDIT ACCOUNT. When making the fleabay payment for a coin just click on paypal buyer credit. Then you pay thru their bank, which is one of those bloodsucking banks that will charge you 20 percent interst on your balance if you carry one. But right after making your fleabay payment thru paypoison, you immediately make an online payment to the paypal buyer creidt account from your other checking account So in effect the charge on you paypoison buyers credit account is almost immediatley reversed. It simple and it works so smoothly that this should be done by EVERYONE who buys and sells on ebay. There is no way paypoison can get into any of you other accounts which will contain most of you booty. So in summary do the folloinwg. 1) OPEN UP A NEW SAVINGS OR CHECKING ACCOUNT THAT IS EXCUSIVELY USED FOR RECEIVING FUNDS FROM FLEABAY SALES. 2) AS SOON AS THE SALES $$$ COME IN TRANSFER MOST OF THE MONEY INTO A SEPERATE SAVINGS OR CHECKING ACCOUNT THAT NOT LINKED TO PAYPOISON. 3) APPLY FOR A PAYPAL BUYERS CREDIT ACCOUNT (I HAVE A $1500 LINE OF CREDIT WITH THEIR BANK AT THE MOMENT). 4) MAKE YOUR PURCHASES USING THE PAYPAL BUYERS CREDIT ACCOUNT. 5) IMMEDIALTY AFTER PAYING THRU PAYPAL BUYER CREDIT MAKE A PAYMENT TO PAYPAL BUYER CREDIT WHICH ESSENTIAL REVERSES THE TRANSACTION. THIS IS FLAWLESS AND FOOL PROOF. THERE IS NO WAY YOU CAN GET SCAMMED IF YOU DO THIS. BUFFNIXX >>



    You haven't tested it with a scam. As soon as a chargeback hits your account goes negative until you fix it. If you're willing to walk away and take the hit to your credit, this is a one time ability for your to not pay your debts and they probably won't come after you. --Jerry
  • BochimanBochiman Posts: 25,556 ✭✭✭✭✭


    << <i>

    << <i>I suppose the one positive of this is that the word is getting out to sellers. ebay sales, revenue and profit are all down or sideways, after a decade of growth. Could it be the business practices. I was a gold power seller last year, this year I am down to bronze with no sales in the last 3 months. I wonder if they try to reason why? I do wish Google would go after that business. They seem to be the only ones who could. Model it after the old ebay. >>



    I think there is more negative than positive. These types of discussions only encourage the nefarious and ethically challenged to try it. --Jerry >>



    I tend to agree with that statement.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • BUFFNIXXBUFFNIXX Posts: 2,727 ✭✭✭✭✭
    Any problems with the above outlined method of dealing with fleaby/paypoison is eliminated by using a SAVINGS ACCOUNT INSTEAD OF A CHECKING ACCOUNT for your linked paypal account. If there is only $50 in the account and some scammer tries to withdraw $1200 the scammer will get nothing -- nichts -- nada. I have already talked to the bank about this. If der aint no money in yer savings account der's nuttin for the sammer to steal!! If you had $50 in the account and they tried to withdraw $49 that is all you would lose and no more. Thats is why you keep very little actual withdrawable cash in you linked savings account. In fact some banks might let you keep almost nothing in the savings account and not charge you anything. Right now I am only keeping a maximum of $50 in my savings account but I am going to check with my bank to see it I can make it even lower. this is a simple foolproof method to keep from getting ripped off.
    buffnix
    Collector of Buffalo Nickels and other 20th century United States Coinage
    a.k.a "The BUFFINATOR"
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭


    << <i>Any problems with the above outlined method of dealing with fleaby/paypoison is eliminated by using a SAVINGS ACCOUNT INSTEAD OF A CHECKING ACCOUNT for your linked paypal account. If there is only $50 in the account and some scammer tries to withdraw $1200 the scammer will get nothing -- nichts -- nada. >>

    How does this help a seller who has hundreds of listings on eBay? So you get a chargeback, but there's no money currently in your PayPal account for them to take. Good for you. But what about the dozen or so closed listings that buyers haven't yet paid for? As soon as they do pay, PayPal will hold that money. And then, there's the issue of the 850 current listings you have in your eBay store. What do you do about them? End them all? If you don't, somebody will buy something and pay. And PayPal will hold that money, too. The "keep your PayPal account empty and just walk away if you get hit with a chargeback" system is not as workable as you make it seem.
  • BUFFNIXXBUFFNIXX Posts: 2,727 ✭✭✭✭✭
    Glad you pointed this out. this will only work easily for someone having a lower number of ebay transactions. The greater the number of transactons then you would have to monitor you account on an almost daily basis and pull the money as it comes in. but it would still work but require more activity on your part. the point here is that paypal took out the 1200 bucks from the sellers account siding with the fraudster. I would do whatever i could to make sure nothing like this ever happened to me.
    buffnixx
    Collector of Buffalo Nickels and other 20th century United States Coinage
    a.k.a "The BUFFINATOR"
  • braddickbraddick Posts: 24,780 ✭✭✭✭✭
    Truly the best strategy is to build an excellent working relationship with your Paypal representative. Treating him with dignity and respect has paid off in spades.
    Mine has gone to bat for me and I've been protected from attempted tomfoolery.

    peacockcoins

  • fishcookerfishcooker Posts: 3,446 ✭✭
    I'd go get $1400 of hide from the crook. If more people would, he'd eventually figure out to quit scamming or there'd be nothing left of him. Either way is a Win.
  • PerryHallPerryHall Posts: 46,817 ✭✭✭✭✭


    << <i>I'd go get $1400 of hide from the crook. If more people would, he'd eventually figure out to quit scamming or there'd be nothing left of him. Either way is a Win. >>



    Can he be sued in small claims court? I realize it may not be worth the effort for a small sum of money but for a larger sum it may be worth it to pay for travel and one or two nights in a motel.

    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

  • BochimanBochiman Posts: 25,556 ✭✭✭✭✭


    << <i>Truly the best strategy is to build an excellent working relationship with your Paypal representative. Treating him with dignity and respect has paid off in spades.
    Mine has gone to bat for me and I've been protected from attempted tomfoolery. >>



    Such a simple solution. I think most want to complain and bicker, but that solution is the one that will pay off the most. image

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • braddickbraddick Posts: 24,780 ✭✭✭✭✭
    Thanks Ron.
    Any organization is made up of individuals who for the most part want what is best for the company they work for. It's that way with you, and with me, and I bet everyone reading this thread.
    Paypal is no different.

    Now, come at them with an attitude- even one that is a little passive aggressive and no kidding you're not going to get very far.

    On a related note, many with the new iPhone 4 can't wait for a jailbreak so they can tether their phones for free (once an app, MyWi is purchased via Cydia for $9.95). There was even a app that slipped through Apple's screening process called "Handy Flashlight" that had an easter egg that allowed for tethering. It was quickly pulled from the iTunes store but not until gaining the top five spot in sales.
    I state the above because AT&T now offers tethering for a cost of $15. a month tethering right on the iPhone. Instead of having to set up the computer every time with the other applications, AT&T's is flawless and simple to use. But there are those who want to "fight the man" and really are more hassled than if they did it the correct way.

    Paypal is the same. Fight them on the manusha and loose. Get into a partnership with them and win.

    peacockcoins

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