Thank you for all the responses as it is very helpful to me to learn current trends. I usually keep my equipment 5+ years so I don't buy and sell often. To clarify, I was willing to pay all the PP fees for this service so the seller had no financial impact on me choosing Goods and Services vs F&F. The price of the item was $1K+ so it wasn't a something that was just a couple hundred dollars that I was willing to take a risk with and wouldn't be out too much money. I also heard the IRS $600 limit has been postponed until 2025. I agree with Carlsbad2 that I can't make a seller buy the insurance and I probably would have let that slide if they agreed to Goods and Services as that would at least give me an avenue to go down if the item was damaged during shipping. I just thought it was interesting that the seller wouldn't even negotiate on Goods and Services which puts all the risk on me as the buyer. Sadly, I'll probably have to pass on buying this item instead of pressing my luck by using F&F and hoping the transaction goes as planned, which is a bummer for both of us. Again, thanks to everyone who chimed in.
Has buying and/or selling audio gear changed?
Hi Everyone, I've been a longtime observer on Audiogon but this is my first post. I recently ran into a situation that was new to me as I've recently sold some of my gear and I'm in the process of replacing it. I've used the normal websites (Audiogon, US Audiomart, TMR, etc) and those transactions have been smooth without any issues. I normally use PP Goods and Services as well as insurance with shipping. However, I recently was on a website of a well-known individual in the industry who has a piece of equipment that was reasonable priced. No, it wasn't a "too good to be true" price but was in the ballpark of what one would expect. As we were ready to finalize the sale, he informed me that he only does PayPal F&F and he won't insure the product for shipping stating this is now the industry standard and it was non-negotiable. Is this the new standard and all my other recent transactions were non-typical because I used PP Goods & Services and made sure the shipping had insurance to try and provide some protection? I don't live close enough to buy the gear in person and I've bought and sold across the US and never had a problem but always used Goods and Services for peace of mind for the unexpected issue or problem. For the record, I'm only interested in conversation that is related to what the industry standard is, not the individual involved here. Let me know your thoughts.
Showing 3 responses by listenup23
Another source: IRS Delays Tax Rule for Online Sellers—Again - WSJ Based on the responses to my post, it appears sellers have 2 concerns with G&S:
That helps me understand why the seller is reluctant to use G&S. I appreciate the feedback. Carlsbad2, you mentioned that you have done a couple transactions using F&F worth over $17K and you stated that it is possible to avoid being the victim. Do you mind sharing the steps you took that allowed you to be successful in not being the victim? Obviously, calling and talking to seller is a step as well as email communication but personally, I'm lacking the same confidence that those steps will help much if the seller wants to exploit the situation when a buyer uses F&F and has no foundation from which to stand on if the seller fails to uphold their end of the bargain in the transaction. As I stated, I don't conduct a lot of buying and selling so I'm trying to learn from others who have more experience in this area. I appreciate the feedback and discussion. |
@czarivey here is the info you requested: PayPal is abbreviated PP PayPal Friends and Family is abbreviated PP F&F or just F&F PayPal Goods and Services is abbreviated PP G&S or just G&S
F&F is free and is giving or receiving funds among trusted parties. G&S costs usually 3 to 3.5% and is for giving or receiving funds as a business transaction which allows both parties to file a claim if something goes wrong.
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