Paypal Safe?

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blade888

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This forum is an absolute gift - more information in one place than we ever imagined. I started a blade collection for my sons as soon as they were born and 18 years later it's gotten pretty big. We want to sell some of them to make way for new entries.

I am concerned about Paypal because of one recent horror stories. I know it's not a knife, but it illustrates my concern. A friend of my oldest son sold an absolutely mint Les Paul Custom guitar to a guy via Paypal. When the guitar arrived, the buyer claimed it was not as represented and filed some sort of complaint. I'd seen (lusted after) the guitar numerous - it was near flawless and the price was very fair. From what I can discern, Paypal froze the funds based on the buyers claim, and then through some sort of arbitration process came up with a "settlement" that was $1100 less than the agreed upon sales price. My son's friend was boxed in because they guy already had his guitar and Paypal didn't seem to care about the seller's side of the story. So, my son's buddy sucked it up and took the $1100 hit. It was either that or nothing.

We don't have many super high-end knives we want to sell. A Dean Kell Custom would probably be the most expensive. But I am concerned about this whole Paypal thing.

I'd appreciate any feedback on how to avoid similar situation. Some of the knives we have are in excellent condition, some not, some way not. We will be as honest as we possibly can when selling and would anticipate the same in return when we buy.

Is it really the case that a buyer can just arbitrarily contest the condition of an item recieved via Paypal payment and then "negotiate" a lower price...or maybe just flat out steal the item?

Thanks to any/all for your advice. Mike
 
Any Busses? :D I have never had a problem with Paypal, but with a MO you dont have to pay the fees, and they are the safest way to go. Just make sure they clear before shipping the knife.
 
I really like paypal for the ease of use, but I've never been screwed like that before.
 
I use paypal all the time

if you are dealing with big ticket stuff I'd be more weary of sales terms and agreements to set yourself up for legal recourse but for something in the couple hundred range it works well for me at least.
 
Thanks for the quick replies. I just finished signing up for gold so I can access the exchange as well. You're probably right - a few hundred no problem but bigger ticket stuff (like a $7K guitar) maybe not the smartest move via paypal.

Sorry, Busses in our collection - but that is definitely on our list to add! Within reason, I'm kind of leaving it up to the boys to decide what to sell and what to keep.

Mike
 
Welcome to Bladeforums!

Please take the time to look through the FAQ and the forum list.
General Knife Discussion is not an all-purpose bulletin board.

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PayPal isn't really the problem, although it does pay to be aware of their rules, procedures, and occasional foibles. The real problem is in dealing only with reliable people. Not always easy to do at a distance.

That's one reason we have this FEEDBACK forum, to discuss and track the kinds of questions that come up in internet transactions.
 
I've never had any issue with paypal. Dealing with other forums members makes it easier because you can sort of look at their posts and get a feel for them. It'll always be riskier selling to total strangers.
 
Ask for US Postal Service money orders and cash them at your local Post office or bank. While some people may not want to buy that way if I ever want something bad enough I don't mind buying and mailing a USPS money order if that's all the seller will take.

If you decide to take Paypal be sure to open a totally separate bank account just for Paypal, preferably at an institution separate from your regular banking/checking accounts and take the money out immediately whenever someones pays you. That way if someone tries to screw you Paypal will not be able to take the money from your account. Paypal doesn't care too much who gets screwed as long as it isn't them.
 
Gerberblades said:
Any Busses? :D I have never had a problem with Paypal, but with a MO you dont have to pay the fees, and they are the safest way to go. Just make sure they clear before shipping the knife.
Click to expand...

USPS money orders are the most counterfeited currency in this country.

Cashing one at a bank still has the prospect of it coming back bad as with a check. I am not sure if they have fixed this, but the post office a couple years back did not have a way to check the validity of a PO money order, and cashing them requires the PO to have the cash on hand, many will not for a larger MO.

If you really want security, set up a sister bank-account to your current acct and insist for a large transaction on doing it thru an escrow company or simply have a wire transfer done into your acct.

Buying and selling is all about trust, really. If you do your research and still feel the transaction has the prospect to go hinky, do not do it.

I've done paypal up to about $1800 or so, not had any problem with them, and I have found their debt resolution services to be exemplary and thorough.
 
I will only cash USPS MO at a PO, because if you do it at the bank, and the MO gets bounced back days later as bad...well, you have already shipped the knife, and have no recourse. It can be harder to cash a large MO at the PO. Do not go first thing in the morning, they won't have enough cash in their drawers. Wait until at least lunchtime.

Welcome to BladeForums, and good luck with your sales.
 
I sell online and shop online myself all the time. even though I offer multiple ways for my customers to pay they always use PayPal. I also prefer PayPal when I'm buying on the net. just the other day my wife had to file a complaint against someone that won't send her her item that she bought off that auction site (first issue ever in 9 years) and PayPal tried to contact the seller and he's not replying. they emailed her today and said they (PayPal) are refunding her the money. you are protected up to a certain amount when you use PayPal.

I have also heard of many many horror stories with PayPal though.
 
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