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Has anyone sold over $35k worth of equipment over the net? How do you protect yourself?

I currently own a Moon 861 amp. I am considering buying a Moon 891 preamp/streamer. Sometimes, I get a bit nervous owning this much in gear. If I ever wanted to sell it, we are talking about $35k payment through paypal or a like service. I read where a buyer could dispute the transaction with their bank even if they bought it through paypal (or zelle) and the seller would lose the money. 

Has anyone else sold this much in gear before over the net? How do you handle this kind of risk? 

dman777

Showing 1 response by bigtwin

bigtwin's avatar
bigtwin
1,408 posts
 

@dman777  I have sold several high end items over the internet.  My rules are as follows:

1. Open communication with buyer and move to phone and video chat, where they can see me and the equipment. 

2. Have the buyer check me out on Audio Mart.  100% satisfaction rating.  There needs to be a level of trust

3.  I only accept payment as a direct bank to bank wire transfer.  By this time the buyer will have seen the item ready for pick-up and will have been provided the shipping quote and details. 

4.  Nothing leaves my hands before full payment is in my account.  Once a transfer has been made and deposited,  it can't be clawed back.  

I have never had an issue being paid and the buyer has never had an issue after purchase.  Naturally I ship fully insured.  Cheers. 

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