How To Sell Something With Both Parties Being Protected?

[Jambe]

Let's say I want to sell a "ring" to someone in Texas. What is the easiest way to transfer the money and the ring so neither party can get ripped off?

I posted the ring on a classified site and buyer wants it.

Possibility exists for the buyer to receive ring and claim it is a fake, and return a fake replacement.

Suggestions?

 

[Rob Croson]

Some kind of escrow service.

A quick google search turned up this:
https://paysafeescrow.com/personal-escrow

Assuming a $5,000 item, their fee is $99. (I know nothing about these people, it was just one of the top hits for "Escrow service".)

Usually the seller eats the fee, unless it is specified up front that the buyer has to pay escrow fees. Also, an escrow service won't guarantee the authenticity of an item. They just guarantee to both the buyer and seller that neither one is going to get ripped off for nonpayment/nondelivery. If you need to guarantee authenticity, then you would probably need to pay someone for an appraisal, and include a copy of the appraisal with the shipment. I see that the escrow service has the option to upload some kind of supporting documents.

 

[Ty]

Let's say I want to sell a "ring" to someone in Texas. What is the easiest way to transfer the money and the ring so neither party can get ripped off?

I posted the ring on a classified site and buyer wants it.

Possibility exists for the buyer to receive ring and claim it is a fake, and return a fake replacement.

Suggestions?

Simple. Take the "ring" to a gun shop and let them broker the exchange. They'll make sure the "ring" is registered correctly so you won't be liable should the "ring" ever be used for nefarious purposes.

 

[NSTG8R]

I've done a ton of Ebay transactions. Buying and selling. I would definitely take pictures of the ring prior to shipping in case of a dispute, use Paypal for the transaction, collect the funds prior to shipping, and once the funds are received, send the buyer a copy of the shipping slip (UPS/FedEx) and tracking number. Almost 400 transactions, never had an issue (knock wood).

 

[Ty]

I've done a ton of Ebay transactions. Buying and selling. I would definitely take pictures of the ring prior to shipping in case of a dispute, use Paypal for the transaction, collect the funds prior to shipping, and once the funds are received, send the buyer a copy of the shipping slip (UPS/FedEx) and tracking number. Almost 400 transactions, never had an issue (knock wood).

I, on the other hand, bought a $350 radio for my wife's Expedition (it was a factory version, step-up and had to be the exact right model number to work). We got it, it was wrong, I returned it, he resent a different one, it was wrong. Neither one matched the model number he pictured. I sent that one back also (shipping at my expense both times) and never heard back... EBay's policy wouldn't help either. I've been Ebay gun-shy ever since. (that was back in 1998, I believe.)

 

[NSTG8R]

I, on the other hand, bought a $350 radio for my wife's Expedition (it was a factory version, step-up and had to be the exact right model number to work). We got it, it was wrong, I returned it, he resent a different one, it was wrong. Neither one matched the model number he pictured. I sent that one back also (shipping at my expense both times) and never heard back... EBay's policy wouldn't help either. I've been Ebay gun-shy ever since. (that was back in 1998, I believe.)

Wow! I see your hesitance to go through that again. Guess I've just been lucky. One of the main things I pay attention to if I'm buy/selling is the other party's feedback. If theirs is nonexistent or iffy, I won't do business with them and put that in the offering's text.

 

[Ty]

Wow! I see your hesitance to go through that again. Guess I've just been lucky. One of the main things I pay attention to if I'm buy/selling is the other party's feedback. If theirs is nonexistent or iffy, I won't do business with them and put that in the offering's text.

Me too. He had a lot and good feedback. I suppose I shouldn't be too wary. It's been a long time. Anyway, I'm still unwilling to sell or buy for more than I'm willing to lose. (selling is okay. I haven't had any problems as I wouldn't ship till I was paid anyway)

 

[Sethodine]

I, on the other hand, bought a $350 radio for my wife's Expedition (it was a factory version, step-up and had to be the exact right model number to work). We got it, it was wrong, I returned it, he resent a different one, it was wrong. Neither one matched the model number he pictured. I sent that one back also (shipping at my expense both times) and never heard back... EBay's policy wouldn't help either. I've been Ebay gun-shy ever since. (that was back in 1998, I believe.)

I just sold some stuff through ebay recently, and the site has changed a lot since I last used it about 7 years ago. Paypal holds the buyer's money in escrow until the seller has shipped and buyer confirms delivery of the correct purchase. Or if the buyer doesn't pay, the seller can offer the item to the second-highest bidder instead. The internet is still risky, but ebay is much better than it once was.

Simple. Take the "ring" to a gun shop and let them broker the exchange. They'll make sure the "ring" is registered correctly so you won't be liable should the "ring" ever be used for nefarious purposes.

Haha, this was my first thought as well when I read "ring". If the item IS a gun, I would recommend you run the transaction through a gun auction site like Gunbroker, and have the item delivered via UPS to the licensed FFL of the buyer's choice. That last bit is the only legal option, since the buyer is out-of-state. I wouldn't do it any other way.

 

[RUCRAYZE]

Wow! I see your hesitance to go through that again. Guess I've just been lucky. One of the main things I pay attention to if I'm buy/selling is the other party's feedback. If theirs is nonexistent or iffy, I won't do business with them and put that in the offering's text.

900 transactions with eBay all good, they're watching very closely as I and many others see Amazon as the definitive alternative. and with Prime free delivery in 2 days (In their home city of Seattle- where I'm now) one day for some, and my son-in-law got it in an hour (without the drones!!), and if your thinking about delivery, some of the shops will deliver weed!
I sold a car to an out of state buyer (no not from Nigeria) and there was no reason to send him the title until I got the money, conversly, why would he send money without the car- answer- lawyer for $125.00 handled it!!

XL:XXIV time to turn in thinking tofu scramble tomorrow.

 

[Rob Croson]

Paypal holds the buyer's money in escrow until the seller has shipped and buyer confirms delivery of the correct purchase.

This is not normal. As a buyer, I've *never* had to confirm delivery of the stuff I bought. Perhaps this is an option for expensive stuff?