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 sns

Having just recently gone through selling a fairly expensive car in doing my research really only a couple fail safe ways to do this. One is wire transfer, two is cash but you better have black light for checking forged bills. Anything printed on paper is liable to be forged so no cashiers check, on checks of any king. None of these apps such as Zelle, PP, Venmo are absolutely safe either. I ended up selling car locally using cashiers check, met purchaser at his credit union, they printed out cashiers check in front of me. I deposited immediately into my checking account at my bank, before I could withdraw any cash they had to speak via telephone to credit union cashiers check was drawn on, the teller stated she had seen too many sad tales of forged cashiers checks, thus this policy.

 

As for audio purchases and sales, I've never had an issue. I look for plenty of feedback and personal contact, paypal ff only when I'm completely sure. I also purchase perhaps half my items from dealers, willing to pay a bit more for the peace of mind and ease of transactions.