Selling a valuable watch on ebay
Discussion
Given the value involved I have to ask...
Someone has agreed to purchase a watch from me via ebay c. £6k.
I've received full payment into my bank account (not via Paypal). The payment was made via a paying in machine with cash.
I had back and forth with one potential buyer (zero feedback), who then said his sister would purchase the item. They wanted to F2F in London, but that isn't possible for me.
Said sister did agree to purchase the item and has confirmed the address for it to be sent to, which matches up with the address ebay gives. This account has a feedback score of 21 over the past 18 months (33 feedback 100% positive, quite a few with one seller of discount codes), but nothing of this value.
I was looking to send via Royal Mail SD or Fedex Next day, but insured separately with ifs-inforsure for the full sale price of the watch.
I understand there is little they could do with regards to recalling the payments into my bank, which obviously leaves the postage side of things as the residual risk.
Is there anything I'm missing / should make me run a mile?
I know the answer is F2F, but I really can't travel that far. Were I to find a compromise, where is considered a safe location? Presumably a jewelers, if they let you? Coffee shop? Back alley? Mens loos?
Someone has agreed to purchase a watch from me via ebay c. £6k.
I've received full payment into my bank account (not via Paypal). The payment was made via a paying in machine with cash.
I had back and forth with one potential buyer (zero feedback), who then said his sister would purchase the item. They wanted to F2F in London, but that isn't possible for me.
Said sister did agree to purchase the item and has confirmed the address for it to be sent to, which matches up with the address ebay gives. This account has a feedback score of 21 over the past 18 months (33 feedback 100% positive, quite a few with one seller of discount codes), but nothing of this value.
I was looking to send via Royal Mail SD or Fedex Next day, but insured separately with ifs-inforsure for the full sale price of the watch.
I understand there is little they could do with regards to recalling the payments into my bank, which obviously leaves the postage side of things as the residual risk.
Is there anything I'm missing / should make me run a mile?
I know the answer is F2F, but I really can't travel that far. Were I to find a compromise, where is considered a safe location? Presumably a jewelers, if they let you? Coffee shop? Back alley? Mens loos?
Edited by Miocene on Wednesday 3rd October 00:47
Hoofy said:
Can't help but wonder if it was a banker's draft (which can be faked and takes 1-3 months to be rejected by your bank) was paid into the deposit machine thing.
For £6k I'd agree to travel at least half way and meet them in a bank.
Or a cheque, that will bounce. How do you know it was cash at paying in machine?For £6k I'd agree to travel at least half way and meet them in a bank.
I'd be ringing my bank and explain to them, get them checking the transaction.
You have to accept the risks associated with Ebay, 'other people', and the vagaries of Royal Mail, or couriers.
Last month I sold a watch to those online dealers mentioned here, sent it off Special Delivery, and got paid by bank transfer in five days.
They didn't acknowledge receipt, so it was five days of wondering where the hell the watch was. Special Delivery tracking revealed the signature of one of the directors, so that was some reassurance.
So let's hope it all works out OK.
Last month I sold a watch to those online dealers mentioned here, sent it off Special Delivery, and got paid by bank transfer in five days.
They didn't acknowledge receipt, so it was five days of wondering where the hell the watch was. Special Delivery tracking revealed the signature of one of the directors, so that was some reassurance.
So let's hope it all works out OK.
I've spoken to my bank and they confirmed the money can not be returned. It was cash paid in, not a cheque or bankers draft.
I had wondered about money laundering too, perfect layering of any funds
Presumably eBay would wash their hands of this as payment didn't go via them and I'd have proof of delivery?
I had wondered about money laundering too, perfect layering of any funds
Presumably eBay would wash their hands of this as payment didn't go via them and I'd have proof of delivery?
Edited by Miocene on Wednesday 3rd October 09:10
Could you perhaps find a PHer in London who you could send the watch to and who could meet them to hand it over? Still have the postal risk but removes the "that wasn't me who signed for it, I haven't got it" issue.
Or for a small consideration perhaps someone running a London business would be prepared to receive it and pass it on?
Or for a small consideration perhaps someone running a London business would be prepared to receive it and pass it on?
If someone were to be willing to do that, that would be fantastic. With some beer money as a thank you.
Spoke to ebay at lunch, because it was paid for outside of ebay they would not get involved in any issues.
As far as I can see, the risk remaining is that they say the watch has been removed in transit, at which point its an insurance claim.
Spoke to ebay at lunch, because it was paid for outside of ebay they would not get involved in any issues.
As far as I can see, the risk remaining is that they say the watch has been removed in transit, at which point its an insurance claim.
Miocene said:
Given the value involved I have to ask...
Someone has agreed to purchase a watch from me via ebay c. £6k.
I've received full payment into my bank account (not via Paypal). The payment was made via a paying in machine with cash.
how does this work? Paying in via machine with cash?? So have you got a bank account number it came from?Someone has agreed to purchase a watch from me via ebay c. £6k.
I've received full payment into my bank account (not via Paypal). The payment was made via a paying in machine with cash.
bonerp said:
Miocene said:
Given the value involved I have to ask...
Someone has agreed to purchase a watch from me via ebay c. £6k.
I've received full payment into my bank account (not via Paypal). The payment was made via a paying in machine with cash.
how does this work? Paying in via machine with cash?? So have you got a bank account number it came from?Someone has agreed to purchase a watch from me via ebay c. £6k.
I've received full payment into my bank account (not via Paypal). The payment was made via a paying in machine with cash.
I’ve just sold a much more expensive watch via Chrono24 because of the protection offered. Nothing is 100%, but it met my risk appetite. Went very smoothly.
You’re either overthinking it and just need to send and complete the transaction (they have to be fair kept their side of the deal!) or you’re spot on with your hunch and so should return their money.
Let us know how you get on
You’re either overthinking it and just need to send and complete the transaction (they have to be fair kept their side of the deal!) or you’re spot on with your hunch and so should return their money.
Let us know how you get on
As way of an update... the watch was sent out Thursday, signed for Friday and i've heard nothing since and am therefore considering this done.
I looked at the facts of it... they had paid money directly into my account (the source of the money is not my business...) and I sent them a note explaining any problems with the watch are not my problem due to warranty and I do not accept returns, to which they agreed. I spoke to my bank and they confirmed the money couldn't be removed.
The postal address was actually Nottingham, which is fine - I confirmed this. I sent them a note saying there was talking of face to face in London - i'd be happy for pay for a courier to London with the watch, they were initially happy with this and never against it, but asked for a courier to Nottingham I said I would have to ask for more money, to which they said post was fine. I recorded the entire packaging of the watch, proving the watch was in the packaging and continued the filming onto the post office.
Long story short - watch sold, money received, all seems to have gone smoothly!
I looked at the facts of it... they had paid money directly into my account (the source of the money is not my business...) and I sent them a note explaining any problems with the watch are not my problem due to warranty and I do not accept returns, to which they agreed. I spoke to my bank and they confirmed the money couldn't be removed.
The postal address was actually Nottingham, which is fine - I confirmed this. I sent them a note saying there was talking of face to face in London - i'd be happy for pay for a courier to London with the watch, they were initially happy with this and never against it, but asked for a courier to Nottingham I said I would have to ask for more money, to which they said post was fine. I recorded the entire packaging of the watch, proving the watch was in the packaging and continued the filming onto the post office.
Long story short - watch sold, money received, all seems to have gone smoothly!
530dTPhil said:
Surely the risk is that they say that they have had it examined and it is a fake and they want a refund, supported by eBay. They return a fake to you and you are £6K out of pocket.
Ebay cannot force you to pay anything backas it's cash in the bank outside of ebay. The risk is entirely the buyers.The worst that could happen in this scenario is bad feedback...happy to be corrected.
cbmotorsport said:
530dTPhil said:
Surely the risk is that they say that they have had it examined and it is a fake and they want a refund, supported by eBay. They return a fake to you and you are £6K out of pocket.
Ebay cannot force you to pay anything backas it's cash in the bank outside of ebay. The risk is entirely the buyers.The worst that could happen in this scenario is bad feedback...happy to be corrected.
Correct, as far as I know and could garner from conversations with eBay and my bank. I've not marked the item as paid on eBay as I think that restricts things a little when it comes to feedback.
As mentioned, eBay aren't interested at all and told me off... Tsk tsk.
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