my best offers on the VXRS

[jimcav]

is 3750 with bontrager race x-lite and the TIME ASX cranks.
I have also been offered 3350 for the bike with the mavic open pro cd wheels and fsa cranks, but that buyer is in Abu Dhabi
what do you guys think? I was thinking i can certainly get more for the wheels and cranks. the guy overseas, his company has an office in Houston, so payment may be drawn through the USA.
appreciate any thoughts
jim

[Bart001]

is 3750 with bontrager race x-lite and the TIME ASX cranks.
I have also been offered 3350 for the bike with the mavic open pro cd wheels and fsa cranks, but that buyer is in Abu Dhabi
what do you guys think? I was thinking i can certainly get more for the wheels and cranks. the guy overseas, his company has an office in Houston, so payment may be drawn through the USA.
appreciate any thoughts
jim

As a frequent participant in other online forums where high-value items are bought and sold online, I can tell you that *I* would not be inclined to deal with a buyer like that. For a few hundred $$, I'd rather make sure that everything is traceable. If you are still so inclined, you need to be POSITIVE that the funds have cleared before you ship the bike; this can take well over a week, depending on the source of funds.

[BumbleBeeDave]

. . . a frequent participant in such auctions, but my Spider Sense would be tingling wildly at the prospect of trying to complete an auction to Abu Dhabi safely. Too easy to get screwed with no recourse . . .

BBD

[jimcav]

i was only going to do it if the funds were USPS money order or certified check from the US, otherwise wait 2 weeks for any international stuff to clear my account (i think it is 2 weeks for amounts under 5k?)
thanks for the input

jim

[barry1021]

whose companies are based in Houston working in the Middle East. I know a lot of them, salt of the earth. I don't think you can make generalizations about this transaction at all. You are seller, so you don't ship until you are satisfied with the transaction anyway.

b21

[wooly]

Jim - the great thing about this forum is the trust worthy forumites to trade, sell and buy with. I am much more likely to give the benefit of the doubt to someone who has history on this site. This is not the case with your buyer (it sounds like). Why not paypal? He can set up an account anywhere and pay you on the spot. That way you're safe from a potential scammer.

Wooly

PS - how's your new R33!?

[Needs Help]

i was only going to do it if the funds were USPS money order or certified check from the US, otherwise wait 2 weeks for any international stuff to clear my account
Beware. You're an easy target for scammers.

[jimcav]

Jim - the great thing about this forum is the trust worthy forumites to trade, sell and buy with. I am much more likely to give the benefit of the doubt to someone who has history on this site. This is not the case with your buyer (it sounds like). Why not paypal? He can set up an account anywhere and pay you on the spot. That way you're safe from a potential scammer.

Wooly

PS - how's your new R33!?
file a claim/charge back. since the international buyer won't have a confirmed shipping address (even though verified international paypal member), there is no SELLER protection. They can fund paypal via a credit card and do a charge back and paypal just freezes your account and takes the money from you.

sucks. I won't be doing paypal from international again unless i feel i can trust the person (ie an active forum member, etc)

I am not making generalizations about the potential buyer--just asking for advice on how to do it if i go that route.

the r33 looks great--but i can't build it up and ride until i sell the vxrs and carbonissimo

jim

[Bart001]

file a claim/charge back. since the international buyer won't have a confirmed shipping address (even though verified international paypal member), there is no SELLER protection. They can fund paypal via a credit card and do a charge back and paypal just freezes your account and takes the money from you.

sucks. I won't be doing paypal from international again unless i feel i can trust the person (ie an active forum member, etc)

I am not making generalizations about the potential buyer--just asking for advice on how to do it if i go that route.

the r33 looks great--but i can't build it up and ride until i sell the vxrs and carbonissimo

jim
Exactly. Paypal will, essentially, always side with the buyer. When an unscrupulous buyer reports that the (untraceable) item never arrived, the seller is out the money and the item.

Money Orders are easy to forge. If you deposit them in your bank account, it's tough to know when it's OK to send the item. Even "wire transfers" can be semi-faked if you as the seller don't know exactly what to look for on your bank statement. Fake money orders or a bad check can be deposited and it can look like a funds transfer.

In general, those looking for a "great deal" are most likely to get scammed. You're better off with a local buyer and guaranteed funds.

[bigman]

USPS money order - cash in hand them ship - no issue.

The real issue is why do you want to get rid of what is probably one of the best riding rigs in the world!

Have a Time VX Special Pro which is a generation or so back from your Time and think it's the shiznit - can not beleive they made them worse. just sayin

[jimcav]

USPS money order - cash in hand them ship - no issue.

The real issue is why do you want to get rid of what is probably one of the best riding rigs in the world!

Have a Time VX Special Pro which is a generation or so back from your Time and think it's the shiznit - can not beleive they made them worse. just sayin
i had 14 bikes. sold 6, need to sell a few more. no more space for them all, and have to help pay down loan for basement remodel. selling the vxrs because it is similar to my 585, but should sell for more. same reason i am selling the carbonissimo--can get more for it than some others.

jim

[dave thompson]

i was only going to do it if the funds were USPS money order or certified check from the US, otherwise wait 2 weeks for any international stuff to clear my account (i think it is 2 weeks for amounts under 5k?)
thanks for the input

jim
Certified checks are merely paper and no good until the issuing bank cashes it. Your bank will give you the funds when you deposit the 'certified' check but debit your account if the issuing bank says the check is no good. If you accept the buyers certified check, you must wait until it clears the issuing bank, otherwise you can be toast. It is a common scam for the "buyer" to claim to be out of country but he will have a check issued from a U.S. bank. Again, the only way you can protect yourself is not to send the goods until the issuing bank declares the check good. This may take several weeks. I make it a hobby to collect 'certified' and cashiers checks from scammers.

Regarding USPS money orders; if you accept them as payment for a sale, take them immediately to the Post Office and cash them, do not deposit them in your bank,. If they are counterfeit (I've personally received two counterfeit USPS money orders) the Post Office will seize them with no compensation to you. If the Post Office cashes them, you're home free.

In any case, do not send out your bike until the cash money is in your hands.

[Serotta PETE]

Boy have I received an eduaction......THANKS. Pete

[jimcav]

Certified checks are merely paper and no good until the issuing bank cashes it. Your bank will give you the funds when you deposit the 'certified' check but debit your account if the issuing bank says the check is no good. If you accept the buyers certified check, you must wait until it clears the issuing bank, otherwise you can be toast. It is a common scam for the "buyer" to claim to be out of country but he will have a check issued from a U.S. bank. Again, the only way you can protect yourself is not to send the goods until the issuing bank declares the check good. This may take several weeks. I make it a hobby to collect 'certified' and cashiers checks from scammers.

Regarding USPS money orders; if you accept them as payment for a sale, take them immediately to the Post Office and cash them, do not deposit them in your bank,. If they are counterfeit (I've personally received two counterfeit USPS money orders) the Post Office will seize them with no compensation to you. If the Post Office cashes them, you're home free.

In any case, do not send out your bike until the cash money is in your hands.
The guy's email is for Fluor Corp, which i checked is a legit eenrgy company, but still makes me nervous. I told him i'd have to wait until the check cleared. he is more worried on the $300 shipping to the middle east. But i suggested amybe he can somehow use a corporate account. I suppose post-Enron that will be a no-no.

thanks
for that info
jim

[gasman]

Dave-

New wallpaper for the den ???

I laugh every time I see your collection.

[davep]

I am doing a similar transaction right now, except with a boat and not with a bicycle, and considerably more money is involved. The person buying the boat is here, but once they leave the country I will have no recourse. I have been told by my banker that once I receive the funds by wire transfer the money is mine, and there is no way for the funds to be recalled. If you get them to wire you the money, especially from a US bank, you should be OK.

[dave thompson]

The guy's email is for Fluor Corp, which i checked is a legit eenrgy company, but still makes me nervous. I told him i'd have to wait until the check cleared. he is more worried on the $300 shipping to the middle east. But i suggested amybe he can somehow use a corporate account. I suppose post-Enron that will be a no-no.

thanks
for that info
jim
Jim:

When selling something, particularly a high-value item like yours, I would always err on the side of caution. I would rather 'be stuck' with an un-sold bike instead of being out thousands of dollars.

Hold your ground about waiting until the check clears. Perhaps you can explain your fear of scammers. If he's done business like this before, he's run into the same problems with other sellers.


Dave-

New wallpaper for the den ???

I laugh every time I see your collection.
Yup. Over $100K and counting. :D

[dave thompson]

I am doing a similar transaction right now, except with a boat and not with a bicycle, and considerably more money is involved. The person buying the boat is here, but once they leave the country I will have no recourse. I have been told by my banker that once I receive the funds by wire transfer the money is mine, and there is no way for the funds to be recalled. If you get them to wire you the money, especially from a US bank, you should be OK.
Wire tranfers are much preferred to potentially phoney checks!

[wooly]

Have any of you had a problem with the post office cashing large MO's? I would think walking up to the counter with a MO for $3k would pose an issue. do they really carry that much cash? If they don't aren't you stuck with depositing it into your bank and the issues that go along with that?

[davep]

I'm pretty sure that USPS money orders are limited to $500 each. You may have to go to a larger branch to cash $3,000 worth.

[Ozz]

Wire tranfers are much preferred to potentially phoney checks!
+1

If you want to be sure.....tell him you want a wire transfer.

Be careful of providing your checking account info to him however. With that info a criminal can create phoney checks drawn on your account and / or create electronic withdrawals. Maybe use Western Union or a savings account you wouldn't mind closing once the transaction is complete. Your bank might be able to offer other suggestions.

[Brons2]

The guy's email is for Fluor Corp, which i checked is a legit eenrgy company, but still makes me nervous. I told him i'd have to wait until the check cleared. he is more worried on the $300 shipping to the middle east. But i suggested amybe he can somehow use a corporate account. I suppose post-Enron that will be a no-no.

thanks
for that info
jim

fluor is a legit energy company with offices in Houston that I have passed by many times.

(that being said, I'd still be hesitant to do business with someone in Abu Dhabi).

[davep]

Be careful of providing your checking account info to him however. With that info a criminal can create phoney checks drawn on your account and / or create electronic withdrawals.

While I agree that this is possible, you therefore should never write anyone a personal check, as this information is on the bottom of every check.

[Ozz]

While I agree that this is possible, you therefore should never write anyone a personal check, as this information is on the bottom of every check.
True, which is just one reason why checks are a lousy payment device.

[Bart001]

I am doing a similar transaction right now, except with a boat and not with a bicycle, and considerably more money is involved. The person buying the boat is here, but once they leave the country I will have no recourse. I have been told by my banker that once I receive the funds by wire transfer the money is mine, and there is no way for the funds to be recalled. If you get them to wire you the money, especially from a US bank, you should be OK.

And plenty of people have been fooled by what looks like a wire transfer but indeed is a deposit of (phoney) money orders or bank checks.

The short answer is that, between you and your bank, if something goes wrong your bank will ALWAYS charge you back, as opposed to them eating the charges themselves.

[Ken Robb]

Let's assume that the buyer is a Fluor employee. Perhaps he's got a friend near to you who could see the bike, give you cash on behalf of his frioend and handle the final shipping to the buyer.

[jimcav]

Let's assume that the buyer is a Fluor employee. Perhaps he's got a friend near to you who could see the bike, give you cash on behalf of his frioend and handle the final shipping to the buyer.
his business contacts are in houston.
I got another offer for the module only, from floirda so may go that route. i am tired of selling off components and going to the post office, but in the end i'll likely net more than doing the 3750 for the bike with the nicer wheels and asx cranks
thanks for all the input

[93legendti]

Certified checks are merely paper and no good until the issuing bank cashes it. Your bank will give you the funds when you deposit the 'certified' check but debit your account if the issuing bank says the check is no good. If you accept the buyers certified check, you must wait until it clears the issuing bank, otherwise you can be toast. It is a common scam for the "buyer" to claim to be out of country but he will have a check issued from a U.S. bank. Again, the only way you can protect yourself is not to send the goods until the issuing bank declares the check good. This may take several weeks...

Dave, I agree with you.

[Bart001]

+1

If you want to be sure.....tell him you want a wire transfer.

Be careful of providing your checking account info to him however. With that info a criminal can create phoney checks drawn on your account and / or create electronic withdrawals. Maybe use Western Union or a savings account you wouldn't mind closing once the transaction is complete. Your bank might be able to offer other suggestions.

Every time you write a check, you are "providing" your checking account info. Why don't "electronic withdrawals" occur all the time? Because it's not an issue.

This is a common fallacy.

Western Union stuff is much easier to falsify than transactions that go thru the banking system.

[rwsaunders]

My brother-in-law travels to Abu Dhabi on a regular basis and speaks very highly of the business community. Tell your friend to contact his closest Citibank branch (see link) and you can arrange to speak directly with a bank officer to organize the wire transaction. If you're not comfortable at this point, scratch the deal.


www.citibank.com/uae/gcb/info/index.htm#branch