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.
@viridian I bought my first set of "good" speakers on AudioMart. It was from a guy in San Francisco (about 400 miles away). We met at a gas station on I-5 in the middle of nowhere, in the middle of the winter with 40 mph winds, it seems like the surface of Mars. We loaded 2 person-sized boxes into my truck and I gave him 22 Ben Franklins--a lot of money back then. M3si's. Jerry |
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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. |
@invalid I disagree. In the past, if you sold a personal item, not for a gain, you didn't report it. Now, since there is a 1099, you have to deal with it. |
This entire discussion goes back to the “buy the seller” concept. Do some due diligence, ask questions, look at feedback. F&F has become more a standard now as PayPal has implemented several new “security” policies that hold money, cause problems with transaction timing etc. Frankly, it is making PayPal less and less attractive to use as a whole. I use F&F now as a seller, I have deep feedback, all positive. If a potential buyer is not ok with that, that’s fine. I generally buy with F&F as well, unless I want to finance the purchase in some way. Then I usually negotiate with the seller at some level. Regarding insurance, as mentioned that’s on the seller. If the item gets lost or is DOA due to shipping damage, that’s on the seller. Their loss if they didn’t buy insurance. Postal insurance is a money grab, it rarely pays out if there is a problem that is shipping damage related. EBay’s systems are an exception. They do a pretty good job, oddly enough. |
