selling a vintage guitar using Paypal

Discussion in 'Guitars in General' started by wiltel24, Apr 23, 2016.

  1. wiltel24

    wiltel24 Member

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    I have been offered by a reputable dealer a fair price for a vintage guitar. So the dealer is willing to send me funds via paypal and then have me ship him the guitar. So am I missing anything? I am wondering if he could renege, stop the paypal payment, after receiving the item and claim it wasn't like he thought it would be. I have explained the condition, etc., but don't want to get into some dispute, in case he changes his mind. Any advice?
     
  2. dubdub

    dubdub Member

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    If its really valuable, fragile and expensive, I wouldn't do it, out of my paypal disputes the "customer" won the dispute 9 out of 10. Me being the customer some of the times and other times me being the seller.
     
  3. Bill

    Bill Member

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    That is the way business is done. You said "reputable dealer." He is going to do what he is supposed to. The biggest risk you run is if he returns it, which isn't likely if you described it accurately.
     
    Sam Sherry likes this.
  4. swiveltung

    swiveltung Member

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    I think you are in good shape selling to a dealer over any single person. However, I would make clear that the agreed price is the agreed price, if he returns it for reason, the freight is on him. You are not going to discount because he doesn't like something.
    The one possible rub is, he goes out of business after getting it. You'll never get it back, if the payment fails somehow, but I would think Paypal solves that..?
     
  5. Sean French

    Sean French Supporting Member

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    I would not accept a paypal payment from a business. Ask for a check and ship after it clears. Wire transfer is good too.
     
    custom53 likes this.
  6. Chris Pile

    Chris Pile Member

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    Paypal is the way things get done these days.
     
    Killed_by_Death and Lewguitar like this.
  7. custom53

    custom53 Member

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    If he is a "reputable" dealer it would seem to me that he could send a Bank Check or a USPS Money Order.. But he is probably trying to protect himself also. Although using a USPS Money Order is a Federal offense if the seller is trying to pull a "scam".. I have yet to have a problem using PayPal but I have heard horror stories from others..
     
  8. MKB

    MKB Silver Supporting Member

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    I had a problem where I paid for a ebay item with a money order many years ago, and the seller never delivered. I took it as far as speaking to the police in the city where the seller lived (several states away). The police told me that I would have to appear in court there in the process, and it was not worth that amount for travel and time off work, so I let it go. Before trusting in the legal process to protect you, make sure of your rights and the process.
     
  9. zztomato

    zztomato Supporting Member

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    That is the standard way of doing these transactions. It's the way 99.9% of deals are done here, on reverb, ebay, and often when buying from a store online. Don't know why you and others are worried. The worst that can happen is that the dealer is not satisfied and he returns the guitar. You can list some terms right on the paypal invoice. If you want to be a hard-ass about it, in the comments, state that by paying this invoice you are agreeing to buying the guitar as is with no return. Personally I would never do that because I believe in a certain amount of trust in these dealings.
     
  10. monwobobbo

    monwobobbo Member

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    just do the paypal deal. the business is just trying to protect themselves, nothing wrong with that. if they are indeed a reputable business then they aren't going to screw you as having a good rep is essential to doing business. as long as you took clear photos f the whole guitar and made a point of depicting any flaws then you should be fine. they're gonna buy it for resale so you won't get the nonsense that super picky buyers can put you through.
     
  11. Otto Tune

    Otto Tune Member

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    How does PayPal work as a seller? I hear the funds are held for 90 days? Is that right? I've bought lots with PP, but never sold.
    Then, once the funds are in your PP account, do you just ask for a check? Transfer?
     
  12. Muzzy

    Muzzy Supporting Member

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    I wouldn't do it, Ask for a bank check. Paypal return rules don't favor sellers.
     
  13. jaded_musician

    jaded_musician Supporting Member

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    When I've sold through PayPal, the funds are in my account as soon as the transaction is done. Takes a few days to clear to my bank account after. I think if it's a high dollar transaction it does take longer to clear though, that info should be on the PayPal site. Don't forget the fees, if it's a high dollar sale, that's going to take a chunk of your money.
     
  14. VaughnC

    VaughnC Supporting Member

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    Doesn't Pay Pay now allow something to be returned within 180 days? If so, I wouldn't want my money tied up for that long waiting for the buyer to possibly change their mind for a real or fabricated reason.

    However, from the sellers perspective, on an expensive item, I'd at least ask for a cash bank xfer or postal MO first to avoid the potential for Pay Pal issues. Then you could accept Pay Pal as a last resort if that's the only option.

    Also, if the dealer isn't too far away, with an expensive item it might be even better to drive the item there yourself as you also have to consider the shipping insurance (if a shipper will even insure a high dollar item) and the potential for loss or damage in shipping and the associated hassles if something should happen in shipping.
     
  15. TDJMB

    TDJMB Gold Supporting Member

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    1) I assume PP's 6-month-return policy would apply here, 2) PP can put a hold on funds for months, 3) PP fee.
    I'd prefer the bank xfer or postal MO if the dealer would do that.
    Is there another escrow service without PP's drawbacks?
     
  16. DustyRhodesJr

    DustyRhodesJr Supporting Member

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    I would not do it.

    Ask for Amazon payments or a money order.
     
  17. Yogi_Sizzle

    Yogi_Sizzle Member

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    The only way I'd do it is through pay pal gift.

    1.No protection or return period for the buyer
    2.No pay pal fee

    Money hits your account and the transfer to your bank takes less than 3 business days

    I believe the hold is only if you sell through ebay and don't have a high enough feedback rating yet. IIRC it was like 30 days not 90. Through a private sale the money is in your paypal account instantly and in your bank account in less than 3 days. Usually it takes 2 days for a transfer to hit my bank, sometimes only a day
     
  18. 1radicalron

    1radicalron Member

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    Also good to remember that PP will send you a 1099 at then end of the year.
     
  19. swiveltung

    swiveltung Member

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    Paypal. Send them an invoice. State your return policy in the notes. Including "Returns must be freight prepaid and refund will be for the purchase price less original freight cost" I do this and actually just saw this note from a music store on line for a guitar I was looking at.
     
  20. misa

    misa Supporting Member

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    I would suggest documenting the guitar and communications with the buyer. If not already discussed by email, write up a description of the guitar and the terms of the sale for the buyer to agree in writing. Then take a bunch of photographs of the guitar and have the buyer agree that he understands the condition of the guitar and that it will be sold as-is, no returns accepted. PayPal does typically favor protecting the buyer if something is claimed to be wrong, but if you have proper documentation, then there shouldn't be anything for the buyer to fall back on in a frivolous claim.

    Then its up to you to make sure it is packed very well and cross your fingers that the shipping company doesn't muck it up. I would propose to pay for the shipper to package the item themselves (UPS Store, etc.). Although I've heard accounts of equipment being damaged and not packed properly even in this scenario, it us typically easier to file an insurance claim against the shipper and have it accepted if they did the packaging. Otherwise, their typical renege is that you didn't pack it properly.
     

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