OT: CL listing advice - payment type = cash only?

[roguedog]

Quick question for you folks. I figure you all probably post on CL a lot as well so thought I'd ping the community brain trust.

When you list something over $500 on CL do you ask for cash only? I was thinking about accepting cc via paypal. Was thinking payment options would up the liklihood of sale but didn't want go into the whole money order, check thing.

The item is going to be listed for approx $900 or so. (No, it's not bike related or only tangentially in that it's a saddle.. as in the Lone Ranger except its English and if the Lone Ranger did dressage. Maybe I shoulda used Tonto instead :cool: )

Is this ill advised? What are the dangers? Are there any?

I guess the biggest is that I'd have to meet person twice or so? Once to view and 2nd after they purchase to exchange item.

Any other of words of wisdom?

[cid499]

I have done PayPal transactions on Craigslist sales. Rather than meeting twice, which can be a burden for both buyer and seller, you can do the PayPal transaction on the spot (if the buyer has a smartphone).

I'm not sure if there is a way for the buyer to revoke their PayPal transaction after walking away with the items, but you might want to look into it. It's never happened to me before, though.

[Rada]

I prefer cash, but have done Paypal. Had a guy who wanted to wright a check once who was buying my daughters old bike. I ended up following him with the bike to an ATM machine. He had his wife and two young daughters with him so it seemed pretty harmless.

[JasonF]

Go with cash. Buyers can always reverse Paypal charges which will result in you out of money and without the saddle until any dispute is resolved. Talk about negotiating from a position of weakness!

[scrubadub]

Might be too late for this deal, but what about getting a free Square card reader? Haven't used it yet but it seems like a reasonable option.

I have heard far too many PayPal horror stories to trust them (although it's a bit of a necessary evil still).

[VulcanVillain]

Go with cash. Buyers can always reverse Paypal charges which will result in you out of money and without the saddle until any dispute is resolved. Talk about negotiating from a position of weakness!

+1 Cash only.

[MattTuck]

Why not sell it on consignment at a tack shop?

If you decide to go with craigslist, I'd keep it local. Cash only, selling unit in as is condition, no warranty.

You can write up a bill of sale to protect yourself.

[esldude]

Keep life safe and simple. Cash only.

If someone has a lack of it you can always meets twice. Take a partial deposit, and offer to meet again when they have the balance, with a deadline on when the balance gets paid. Of course keep the saddle until fully paid.

I mean follow someone to an ATM, or go with them to their bank to withdraw funds or such. Isn't that hard. Bottom line is don't let your item out of your hands until your hands are holding the cash.

[ultraman6970]

+1... cash only. I've payed using paypal right there with my laptop and stuff once. But as a seller I've taken cash all the time. Is more transparent for everybody IMO

[CaptStash]

Might be too late for this deal, but what about getting a free Square card reader? Haven't used it yet but it seems like a reasonable option.

I have heard far too many PayPal horror stories to trust them (although it's a bit of a necessary evil still).

I sell on CL fairly frequently and use the Square. It works like a charm with my iPhone and and people seem to appreciate not having to drag a bunch of cash around.

I think that they will still send you a square for free, and I know you can "buy" them for $10 at Walmart and such (they come with a $10 credit). The only downside is the 2.9% they take as their cut.

Captstash....

[pdmtong]

people want to see the benjamins...cash is king.

for that amount of money i never meet someone unless we've talked on the phone ahead of tme or had a decent email exchange. the interaction will tell you all you need about the prospective buyer

[brando]

I've taken cash, paypal and even a check or two from cl and it's all been good. That said, when the stakes are higher I've only gone for cash and the serious buyers never have had a problem coming up with it. Once, I waited a week for a guy who had just moved to the area to make enough atm withdrawals to buy my $3600 bike but sure enough he did, with stacks and stacks of twenties.

[brando]

I should add that paypal and credit cards (and ebay) are biased in favor of the buyer not the seller. I haven't had any adverse dealings, but I have definitely applied my rights to straighten out a few shady ebay sellers who thought they could take good money for their garbage and run.

[roguedog]

Thanks everyone. Looks like cash is king. I'll give that a go. Might look into the square thing too. Interesting option.

@ Brando :eek: wow that a lot of 20s to be hauling!

It's why I was asking about Paypal since $500+ is above an atm pull.

Thanks again.

[AngryScientist]

i bought a bike on craigslist once, and actually met the seller at a bank. we happened to both use Wachovia at the time, so we met at the bank, i took cash out, and he deposited in a nice, secure environment. was a good option.

[CaptStash]

One more thing to add, I never, ever allow a CL buyer into my home. A neighbor made that mistake and got robbed. It's a classic method of casing a place and looking for security systems. It doesn't hurt to pretend your dogs are mean too!:banana:

CaptStash....

[roguedog]

@ Matt - most of the tack stores around here have closed up shop. I'd have to go up to a store about 20 miles away.. Actually not sure anymore where people get their tack anymore around here. Likely online :/

CaptStash - thanks for the advice. I'm with ya. Starbucks or grocery store parking lots or, in this case, maybe the stables are the best meeting points. After a couple of jobs dealing with public, I have a healthy appreciation of weirdos out there.

[dave thompson]

^^this^^ If I'm doing a CL sale, I'll insist on meeting in a neutral place: Starbucks, Safeway parking lot, etc.