2. misc-audio
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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.      

128x128listenup23
elrod
244 posts
 

I've noticed many more sellers insisting on F&F, but I wouldn't say it's the new standard. Dunno if it's because of the tax issue or he's worried about buyer claims. Of course it allows the seller to be a little shady also.

If he wants to use F&F, power to him. You both have choices. However, if PP wants to be a D1ck, they can remove the F&F function from an account

Insurance seems to have gotten more and more expensive, but I would think he'd

at least give the buyer the option to pay for it. Heck, even getting a signature on delivery cost 6 bucks

elrod
244 posts
 

If  you have your receipts and you take a loss on selling something, you can also deduct that loss on your taxes

listenup23's avatar
listenup23 OP
3 posts
 

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.   

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carlsbad2's avatar
carlsbad2
1,602 posts
 

@dill  Do you have a reference?  I'm hearing lots of rumors but paypal's website still says $600 in 2023.  I'm not saying you're wrong, I'm saying that I'm getting conflicting info.  thanks.

https://www.paypal.com/us/cshelp/article/will-paypal-report-my-sales-to-the-irs-help543

 

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