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Posted: 8/3/2005 7:26:21 PM EDT
... How are high value (firearms, heirlooms, fine art, jewelry, estate collections, etc.) items brokered once the high bid has been awarded?

... Specifically, is there an entity similar to a Title Company that can hold funds and property in some sort of an "escrow" (held in trust by a third party to be turned over to the grantee only upon fulfillment of a condition) until the property/cash have traded hands?

... Seems the seller is taking somewhat of a risk of losing his property to shenanigans.

... How would you conduct such a transaction?

An offer for willing participants considering brokering a deal for me

Link Posted: 8/3/2005 7:30:48 PM EDT
[#1]
I dunno. I'm poor.
Link Posted: 8/3/2005 7:37:22 PM EDT
[#2]
I would look into the escrow options. There are definitely companies that can provide that service, although I have not needed to use one yet. Look around, you ought to be able to find an intermediary for a small fee.
Link Posted: 8/3/2005 7:39:18 PM EDT
[#3]
On bigger ticket items, I think most buyers will request an inspection period before any large funds are transferred.

A buddy of mine sold a Boss 429 Mustang for $185k last year. The buyer wired $10k to him to hold the car. After flying in to inspect it, the balance was transferred.

I sold my drag car to a guy clear across the country (Bellingham, WA) back in December. We spoke numerous times on the phone, and in those conversations I earned his trust. When he finally decided to buy, he wired $32,500 directly into my bank account the next day. He never once saw the car in person. Only digital pics.
I think a lot can be learned about a persons character just in phone conversations...

On a side note...
I've gotten hosed already on auction listing fees when a buyer backs out.
I won't even offer a "buy it now" price anymore. It's too easy for some punk to fool with my auction and bone me for listing fees.

I used this method to retaliate against a seller that took me for $20 and never shipped the T-shirts I ordered.  I even paid him via paypal, which I thought was somewhat foolproof. Turns out they were unable to reimburse me due to probs with the seller.
I registered on ebay using a bogus email address, then clicked "buy it now" on about 20 of his currently running T-shirt auctions. He was forced to eat the listing fees on all those auctions. I closed the bogus email account, and felt a WHOLE lot better.
Link Posted: 8/3/2005 9:07:18 PM EDT
[#4]

Quoted:
On bigger ticket items, I think most buyers will request an inspection period before any large funds are transferred.

A buddy of mine sold a Boss 429 Mustang for $185k last year. The buyer wired $10k to him to hold the car. After flying in to inspect it, the balance was transferred.

I sold my drag car to a guy clear across the country (Bellingham, WA) back in December. We spoke numerous times on the phone, and in those conversations I earned his trust. When he finally decided to buy, he wired $32,500 directly into my bank account the next day. He never once saw the car in person. Only digital pics.
I think a lot can be learned about a persons character just in phone conversations...

On a side note...
I've gotten hosed already on auction listing fees when a buyer backs out.
I won't even offer a "buy it now" price anymore. It's too easy for some punk to fool with my auction and bone me for listing fees.

I used this method to retaliate against a seller that took me for $20 and never shipped the T-shirts I ordered.  I even paid him via paypal, which I thought was somewhat foolproof. Turns out they were unable to reimburse me due to probs with the seller.
I registered on ebay using a bogus email address, then clicked "buy it now" on about 20 of his currently running T-shirt auctions. He was forced to eat the listing fees on all those auctions. I closed the bogus email account, and felt a WHOLE lot better.



PayPal and eBay will handle no-ship sellers, and a non paying bidder doesn't hurt a seller. The seller files a NPB notice and is refunded fees.
Link Posted: 8/3/2005 9:30:36 PM EDT
[#5]

Quoted:

Quoted:
On bigger ticket items, I think most buyers will request an inspection period before any large funds are transferred.

A buddy of mine sold a Boss 429 Mustang for $185k last year. The buyer wired $10k to him to hold the car. After flying in to inspect it, the balance was transferred.

I sold my drag car to a guy clear across the country (Bellingham, WA) back in December. We spoke numerous times on the phone, and in those conversations I earned his trust. When he finally decided to buy, he wired $32,500 directly into my bank account the next day. He never once saw the car in person. Only digital pics.
I think a lot can be learned about a persons character just in phone conversations...

On a side note...
I've gotten hosed already on auction listing fees when a buyer backs out.
I won't even offer a "buy it now" price anymore. It's too easy for some punk to fool with my auction and bone me for listing fees.

I used this method to retaliate against a seller that took me for $20 and never shipped the T-shirts I ordered.  I even paid him via paypal, which I thought was somewhat foolproof. Turns out they were unable to reimburse me due to probs with the seller.
I registered on ebay using a bogus email address, then clicked "buy it now" on about 20 of his currently running T-shirt auctions. He was forced to eat the listing fees on all those auctions. I closed the bogus email account, and felt a WHOLE lot better.



PayPal and eBay will handle no-ship sellers, and a non paying bidder doesn't hurt a seller. The seller files a NPB notice and is refunded fees.



Wrong. Only a percentage of the fees. Not all.
Link Posted: 8/3/2005 10:02:40 PM EDT
[#6]

Quoted:

... There are definitely companies that can provide that service ...



... Like who? I've tried Googling such
Link Posted: 8/3/2005 10:12:16 PM EDT
[#7]
Link Posted: 8/4/2005 2:20:29 AM EDT
[#8]

Quoted:
PayPal and eBay will handle no-ship sellers, and a non paying bidder doesn't hurt a seller. The seller files a NPB notice and is refunded fees.



Then explain to me why it ALWAYS costs me money when a non paying bidder screws up my auction ?
Explain to me why paypal was unable to refund the money I paid to the non shipping seller I bought from ?
I'd like to believe you, but you are wrong.

Ebay and Paypal are the only ones who benefit from these problems.
Link Posted: 8/4/2005 7:14:32 PM EDT
[#9]
... I've found out that the "only way to go" on eBay with transactions $15K and up is through their only sanctioned "escrow" company www.escrow.com.

... This sounds to be the most secure method of processing such deals. I called them today and they have their shit square.

... I'm still willing to consider hiring a trustworthy, seasoned eBay dealer here on ARFCOM if they can assure to the best of their ability a smooth auction/sale/delivery/receipt.

... Meanwhile, I registered on eBay & www.escrow.com but I'm not sure a guy with a grand total of 1 auction would be taken seriously (may attract crooks as well).

... Thanks for listening!
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