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9/22/2017 12:11:25 AM
Posted: 8/3/2005 7:26:21 PM EDT
[Last Edit: 8/3/2005 10:01:12 PM EDT by Winston_Wolf]
... 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
I dunno. I'm poor.
Link Posted: 8/3/2005 7:37:22 PM EDT
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
[Last Edit: 8/3/2005 7:44:26 PM EDT by Dragracer_Art]
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

Originally Posted By Dragracer_Art:
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

Originally Posted By kuhlewulf:

Originally Posted By Dragracer_Art:
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

Originally Posted By macro:

... 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
Link Posted: 8/4/2005 2:20:29 AM EDT
[Last Edit: 8/4/2005 2:20:55 AM EDT by Dragracer_Art]

Originally Posted By kuhlewulf:
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
... 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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