E-Bay and PayPal: What should I know?

[HMG]

For the long-time ebay policy of sucking refunds out of your bank account, I also set up a special account at my bank. I told them to NOT transfer any over drafts or give me instant line of credit on that account, because on my main account they "protect me" from overdraft charges by doing that. It's worked for over a decade. When I get a payment in Paypal, I transfer it over to the "fun account". Then I transfer it over to my "real" account. It only takes a few logins and minutes.

I used to keep a balance in Paypal so I could buy more things, after I sold some. But that changed. One thing to know about Paypal is you cannot easily maintain a balance anymore, unless you buy their credit card. That was the latest shock about 6 months ago when I did a rare sale. After payment by the buyer, it said "you have funds!" but I didn't SEE them. You have to "get funds" or something with a few buttons, and it automatically transfers to your bank. It won't just "sit there" in Paypal anymore. Unless you sign up for their credit, which I'm not about to do.

Notwithstanding all the other issues that may arise with Paypal, I don't believe you are correct about this. I have a paypal account, with a balance, and I have not signed up for their credit card. You may be referring to a change that happened a while ago resulting from regulatory changes in how Paypal has to treat balances. Some info here: https://esellercafe.com/paypal-us-co...lance-account/

I tie my paypal account to a long defunct bank account. When I want to take money out, I request a check at the cost of a couple bucks. I do that at $500 or more so it's a small price to pay for "insulating" my paypal account.

[HMG]

I sold my car last year and advertised on a couple of car sales sites. Both warned me to watch out for fraud. If the deal smells bad in any way, don't get involved. Don't sell to out of state buyers. They're usually phoney because why not get a car where you live? (Obviously different than rarer camera equipment). Don't deal with agents of prospective buyers. Lot's of Russian con artists. Be aware. I had one woman with a Russian accent who said she'd send her friend as she has to go on a trip overseas. I said thanks but no thanks. Accept cash only. Even certified checks can be phonied up. When you go to cash them, they bounce. When I sold my car, I met the guy in my bank after he drove the car and we agree on price. We closed the deal in a room the bank officer gave us for an hour where cash was given and I immediately deposited it before leaving the bank. He got all the signed papers and we all left happy. The only time I would have accepted a certified check is if it was drawn on my bank and I could deposit it and clear it at the same time the papers were signed. Since he had a different bank, I told him I would only accept cash.

It's not that unusual to buy a car in a neighboring state. And if the car is somewhat uncommon, to buy in a further away state. Also, note that there is a difference between a certified check and a cashiers check. If a certified check, best that it's drawn on your bank as you required.

[Drew Bedo]

Wow!

Many thanks to everyone. I have read akll the pros and cons. I appreciatre the financial advice regarding separating accounts.

I will be selling off some odd gear, most of it well under $500. Other items will be a few books. Just trying to simplify my liufe and let go of the past .


Again: Thanks to everyone.

[drj52]

Wow!

Many thanks to everyone. I have read akll the pros and cons. I appreciatre the financial advice regarding separating accounts.

I will be selling off some odd gear, most of it well under $500. Other items will be a few books. Just trying to simplify my liufe and let go of the past .


Again: Thanks to everyone.

If you have more questions before you start, or if you run into an issue with a sale, please post again. It can be a bit disorienting, and even counter-intuitive at times.

[Drew Bedo]

If you have more questions before you start, or if you run into an issue with a sale, please post again. It can be a bit disorienting, and even counter-intuitive at times.

I had listed an item several days before posting here. With all this good advice here, I would now like to pull that one item and discontinue the offering.

But I couldn't figure that out. There doesn't seem to be a button for that that I can see.

Please understand that I am visually impaired and sometimes navigating website pages is not as obvious to me as it may be for others.

[drj52]

I had listed an item several days before posting here. With all this good advice here, I would now like to pull that one item and discontinue the offering.

But I couldn't figure that out. There doesn't seem to be a button for that that I can see.

Please understand that I am visually impaired and sometimes navigating website pages is not as obvious to me as it may be for others.

Go here:

https://www.ebay.com/sh/lst/active

To the left of your item's photo, there should be an "Edit" link. Click the down arrow next to "Edit", and select "End item". On the next page, select a reason for ending, then click "End my listing".

[Rick A]

10.79%? All the eBay sellers I know are being charged 10.00% (except the ones who list in categories with a lower %, and the ones in eBay's doghouse who are paying 14%).

Paypal charges 2.9% + 30 cents. And yes, they charge that on what the buyer pays you for shipping. Why wouldn't they? They're transferring the full payment for you. Did you know you're paying the PayPal fee on the buyer's sales tax also?

You must list quite a few items if you're being charged for renewals; unless you subscribe to a store, the first 50 items/month are listed at no charge.

Initial listing is free, but read the fine print, charges apply for automatic relisting.

[drj52]

Initial listing is free, but read the fine print, charges apply for automatic relisting.

Relistings count as one of your 50 free per month, same as the original listing. If you're getting charged, then you're doing more than 50 listings/relistings per month (or you have a store subscription, which gives you a larger # of listings for one monthly fee).

https://www.ebay.com/help/selling/fe...=4364#section1

[Alan Klein]

It's not that unusual to buy a car in a neighboring state. And if the car is somewhat uncommon, to buy in a further away state. Also, note that there is a difference between a certified check and a cashiers check. If a certified check, best that it's drawn on your bank as you required.

I was selling a 2006 Acura TL, nothing too uncommon. To drive over 100 miles to see and buy it seem strange to me. So I ignored those "buyers" and found one 20 miles away, some guy buying a car for his daughter going to college. Both the father and the girl took the car out for a drive. Even the mother was there. Even with that, I asked for cash. Other calls I received just seemed phony. A bell went off. I don't recall what the ad company said about cashiers vs certified. I guess the concern is they both can be phony. Once you sign the title over, go find the people to sue. One of the things I did when someone wanted to see the car, I got their home address to help assure they were legitimate. If someone hands you a phoney cashiers check, and you have no idea where they live, how do you ever find them to get your car back or sue them? They're gone. The car's gone. Your money's gone.

[goamules]

My fear of fraud on eBay has made it impossible to sell big ticket items that have to be shipped. Over $5000 sell price and you are in a very risky position. How do jewelers sell a $6,000 diamond ring, or a $20,000 Philippe Patek watch, I'll never know. Because if the overseas buyer says "it had a fake diamond" and sends it back so configured, you're hosed. Or says "the watch was empty, no action inside." Or "it never arrived" when it did. Or....it stopped working...." and they send back the watch with a fake action inside.

All the things that happen to lens and camera sales made me decide against putting my Hermagis Mammoth up on ebay. I just can't take the chance of shipping it, having a Chinese fraudster tell ebay they never got it, or the box was empty, and ebay coming after my bank account (or me) to get the money back. Meanwhile, the lens is off in a foreign country, in the guy's hands, that says he never got it. If ebay won't stop all the fake Rolex and Leicas on their market, you think they're going to help a one time sale of $10,000? Nope.