Any risk to selling with Paypal?

[1flossedm3]

I'm selling my 16613 and found someone who wants to purchase. Any risks to using paypal for this? (Obviously wait till money clears).

My only fear is someone can claim they didn't recieve something (Even with tracking numbers) and get refunded somehow.

Anyone ever have any issues selling with Paypal?

[kilyung]

Do NOT accept PayPal.

[1flossedm3]

Originally Posted by kilyung

Do NOT accept PayPal.

Any reason why?

[kilyung]

Yes it's very easy for the buyer to dispute the charge and PayPal tends to side with the buyer. I've lost stuff selling on eBay (no watches) to scammers.

[texex91]

Originally Posted by 1flossedm3

I'm selling my 16613 and found someone who wants to purchase. Any risks to using paypal for this? (Obviously wait till money clears).

My only fear is someone can claim they didn't recieve something (Even with tracking numbers) and get refunded somehow.

Anyone ever have any issues selling with Paypal?

Two words: Bank Wire

[ndsleep612]

Do a google search for "PayPal seller no recourse".

[Justinmg]

I thought PayPal was safe, I've always payed for my watches using PayPal. Thanks for the info

[Daryl]

Originally Posted by kilyung

Yes it's very easy for the buyer to dispute the charge and PayPal tends to side with the buyer. I've lost stuff selling on eBay (no watches) to scammers.

+1

As a buyer I prefer to use PayPal to pay but Kilyung is right.. It could happen.


Sent from my iPhone using Tapatalk

[swish77]

I suggest you read this thread. It starts with a bad buying experience, but it also includes details of a very bad PayPal selling experience:


http://www.rolexforums.com/showthread.php?t=456921

[1flossedm3]

I've had one bad experience with Paypal in the past, guess this is too large a sale to gamble with. Thanks everyone.

[ltmgeller]

PayPal is great if you area buyer. I've won all but one dispute with PayPal and ended up splitting the difference. Otherwise I always got my money back from people who have tried to scam me. As a seller though the advantage goes to the buyer. If you decide to accept PayPal make sure you fully insure the item when shipping in case the buyer tries to rip you off.

[1flossedm3]

Originally Posted by ltmgeller

PayPal is great if you area buyer. I've won all but one dispute with PayPal and ended up splitting the difference. Otherwise I always got my money back from people who have tried to scam me. As a seller though the advantage goes to the buyer. If you decide to accept PayPal make sure you fully insure the item when shipping in case the buyer tries to rip you off.

My question about insurance is this... so you tell fedex the value of the item is $8000 say, don't they ask what it is? I feel like your package would go "missing" and raise chances for "issues" with fedex if they know what the value of something is in that box.

[Mick P]

Chaps

Simple rule of thumb. PayPal is great for buyers and bad news for sellers because the system is weighed heavily in favour of the buyer.

Regards

Mick

[Partagas]

Of course, if you're the buyer and you send funds by bank wire, you better know 100% who you're dealing with. Easy way to get ripped off by a seller if you don't! I'd prefer to pay the AD price unless I'm buying from a very established seller here. Of course, I'm new here so I'm still learning who's who...

[AK797]

Agree with Mike, ebay/paypal are a buyer's paradise. Only sell with paypal gift or ideally bank transfer.

[thusalwaystotyrants]

I've done over 400 transactions on eBay and one guy ripped me off despite all documentation to support my case and the validity of the sale. It disheartened me to the extent that I almost refuse to sell to someone unless I know them or they have impeccable references. Sucks to get scammed. 😞

[Chewbacca]

there's always risk, just ensure you send a detailed INVOICE (don't just request a payment or a simple cash request with no description), upload tracking, add signature requirement, get the buyers ph# and investigate their online presence/work, send to the buyers VERIFIED and CONFIRMED address as stated on PayPal and follow the process as outlined.

this doesn't guarantee anything but its part of the CYA of selling with paypal.

good luck.

[Knappo 1307]

Paypal is fine if the buyer is someone you'e done business with in the past, or has been active on the forums and has references from past deals. If you are dealing with someone, with no feedback, it's not a good idea...

[mkmk]

Bank wire only or cash deposit directly into your bank account. This does take a leap of faith for the buyer but much safer for the seller. Buyer can check sellers feedback etc. to put their mind somewhat at ease. I would never accept pay pal. Just to risky. Rather not sell then to be caught up in a pp scam/dispute. If you have good feedback and posts on the forum you'll find someone to buy with wire or direct deposit.

[mailman]

Originally Posted by 1flossedm3

My question about insurance is this... so you tell fedex the value of the item is $8000 say, don't they ask what it is? I feel like your package would go "missing" and raise chances for "issues" with fedex if they know what the value of something is in that box.

FedEx won't insure jewelry for more than $500 I think. You have to get third party insurance from CGI or Parcel Pro.

[SearChart]

So not accept PayPal when selling on eBay, no matter what? Or just when selling high value stuff?

[kilyung]

Originally Posted by SearChart

So not accept PayPal when selling on eBay, no matter what? Or just when selling high value stuff?

Entirely depends on your risk threshold

[azguy]

Originally Posted by Knappo 1307

Paypal is fine if the buyer is someone you'e done business with in the past, or has been active on the forums and has references from past deals. If you are dealing with someone, with no feedback, it's not a good idea...

well said

[lahainabry]

From a buyers prospective. I have found watches here I would like to purchase. I have not because they do not accept Paypal. (My wife has had it since 2001. She is 100% with over 700 transaction, mostly buying items). I have a real hard time doing a wire transfer to someone I don't know. I would never think of "scamming" someone. However, I would expect the watch to be as described. A wire transfer would give me zero protection. A seller is only good until they are not. I guess this would go both ways though.

At this point, I look here but buy elsewhere.

[Daytona88]

Great info from all thanks!

[MILGAUSS88]

Originally Posted by SearChart

So not accept PayPal when selling on eBay, no matter what? Or just when selling high value stuff?

I believe you have to offer paypal or credit card (which would give the buyer the same protection) to sell an item. You have to select payment method, I have never tried, but I assume that ebay will not allow an item to be listed without one selected.

[MILGAUSS88]

Originally Posted by lahainabry

From a buyers prospective. I have found watches here I would like to purchase. I have not because they do not accept Paypal. (My wife has had it since 2001. She is 100% with over 700 transaction, mostly buying items). I have a real hard time doing a wire transfer to someone I don't know. I would never think of "scamming" someone. However, I would expect the watch to be as described. A wire transfer would give me zero protection. A seller is only good until they are not. I guess this would go both ways though.

At this point, I look here but buy elsewhere.

x2,

I would never buy an item with bank transfer or cash deposit either.

[MILGAUSS88]

Not using Paypal or credit cards limits the number of buyers.
And as a seller, I know that the fewer people that an item is available to, the less you are likely to get for the item.

[SearChart]

Originally Posted by kilyung

Entirely depends on your risk threshold

Originally Posted by MILGAUSS88

I believe you have to offer paypal or credit card (which would give the buyer the same protection) to sell an item. You have to select payment method, I have never tried, but I assume that ebay will not allow an item to be listed without one selected.

Got it, thanks

[Hpozzuoli]

PayPal protects the buyer and generally decides against sellers in disputes.

Bank wire protects the seller and gives buyer no recourse.

Face to face with a pile of cash is best, but if that can't be done you better vet the seller if you are sending a wire. I have sent wires a few times now with some of the best sellers here. If I had any doubt about their character I would use PayPal and pay the 3% charge for peace of mind.