PayPal & ebay

[David #19063]

I was planning to put one of my cars on ebay.  I will not accept Money Orders or Cashier Checks.  I will only accept cash or Bank Wire Transfers.

I prefer that no one uses PayPal.

However, if a buyer chooses to use Paypal for the $5,000 deposit within 24 hours, I will let them, however, I will add an additonal $125 fee to cover PayPals 2.5percent fee.

Is there any rule against this?

David

[Lars Kneller 8246]

If you make it too difficult for a purchaser to pay you, it may discourage them from bidding.  I personally do not bid on items whose seller will not take a personal check or PayPal.  The fees are just part of doing business.

[denise 20352]

  I agree with Lars, normally you sell the car for enough to pay for the Paypal fee, and dont mention anything to the buyer about it.

  The only problem I can think of is, what about terms of the deposit if you have to refund it for some reason?  I dont know what terms you will want to or be obligated to give them, but you might mention that any refund would be "minus all fees related to the sale", or just put down that it is non-refundable, and then if you should decide to be nice about it and give them a refund, youll have to subtract the fees.  They cant really ***** about that, although they might do it anyway.

-denise

[Fred Garfield 22310]

If the deposit is 5K, the selling price must be high. When a sum that substantial is involved, I would accept ONLY bank transfers or cash in person -- for the deposit and for the balance. Cashiers checks were once considered "good as gold," but that hasnt been true for several years. Also, I would not let an organization like paypal control payout on large amounts like these. I would want to keep very tight control of when and where that cash flowed. IMO, you are wise to insist on bank transfers. Anyone would cannot carry out two simple bank transfers probably cant afford your car.

[Jim Snell]

Howdy all,
I side with Fred.. Well said about probably not having the money anyway.

Forum moderator note:
I place this ebay link only for an example of the way my non-paypal auto auction runs, and the way I try to weed out the bad seeds from my sale.. There is a sub-culture of honest eBayers, and this culture can operate with success. Unfortunately, honest users sometimes have to weed out the "zeros" and the "negatives"... Such is life...

 You may view my non-Cadillac eBay car auction running now at this link:

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=4630712242 TARGET=_blank>http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=4630712242

No PAYPAL on cars. That is the way I do it. I take PAYPAL on the little stuff, not the big items!

It is not the commission paypal takes. It is the fact that the car is sold as-is, and the deal is final. There is not a PAYPAL company with employees of unknown qualifications making the decisions involved in a potential refund dispute.. There is not a PAYPAL company with access to my bank account to yank the money back if the buyer has remorse and whines... Come and see the car, then bid. Otherwise, buy it sight unseen, accept it as what you bought, and deal with it. My 100percent positive feedback, and seven years of ebay membership speaks for itself... I know some day Ill get my first negative. It could be tomorrow? It could be in ten more years? With 475 positives, one negative wont sink my ship. The comments made on my feedback profile indicate my integrity. If a potential buyer doesnt bid because I dont take PAYPAL, then "oh well". Somebody has to leave the bad seeds out there to disrupt fellow bad seeds auctions.. Without the dishonest buyers, what would the scammer sellers do with all their free time?

I dont seem to have a problem attracting bidders on this one and it is only two days old.. There are 65 "watchers" already tracking this car........
Over and out. Jim Snell

[Fred Garfield 22310]

Excellent, Jim, this is how an auction is done!

The only point on which we differ is cashiers checks. I simply wont accept them anymore. For the past few years, there has been heavy traffic in perfect forgeries of these. Even the banks are fooled and when they discover theyve been taken, they are not shy about "passing the savings" on to you, the depositor, by simply pulling the funds back out of your account. That leaves you with nothing but nasty options. My iron policy on sales of this size is -- bank transfer or cash-in-person only.

[David #19063]

Hi Lars,

Thank you for the input.  Yes, I like to be able to use Paypal or check for small items, but I am expecting this car to pull $20,000+.  The fee for Paypal then becomes substantial.

I was trying to figure out a way to leave Paypal as an option for the buyer for their convenience if they want to pay for it...but not at my expense.  Especially when that would be around $500.

Rememer when the gas stations gave a 4 cent discount for cash because they were not allowed to charge "extra" for the credit card?  I was thinking about trying to do the same.

Yes, I understand that the fees are apart of doing busines, but that is too much for me to swallow.

I guess I am being thrifty, but that is a stiff fee for transfering money.

David

[David #19063]

Hi Denise,

Yes, I agree with Lars that I may be thinking about making it too difficult.  I may have to reconsider some things.

Refund the deposit?  No, that would not happen.  If they do not pay the full amount and purchase the car, they would lose their deposit.  It is non-refundable.  This is an auction.  All cars are sold as is, there is not a GMAC Warranty on a 50+ year old classic.

David

[David #19063]

Yes, I expect the selling price to be $20,000+.  

I thought that a $5,000 deposit within 24 hours would weed out those that do not have their funds ready.  And also those that feel that they are bidding on the right to refuse the purchase.  

Anyone is welcome to inspect the car during the auction or to have someone inspect it for them.

For example, here is a link to some pictures of the car:

http://forums.aaca.org/showflat.php?Cat=&Number=359921&page=0&view=collapsed&sb=5&o=&fpart=1 TARGET=_blank>http://forums.aaca.org/showflat.php?Cat=&Number=359921&page=0&view=collapsed&sb=5&o=&fpart=1

I am more than happy to show the car prior to the end of the auction...but, it is a 51 year old car, with no factory warranty remaining.  

However, it is an auction, sold as is, where is.  

David