Should Escrow be Required?


I've noticed alot of expensive high end stuff from sellers with no feedback lately. Most don't post pictures but some do cut and paste from manufacturer's websites. I've also noticed that many, but not all, of these listings have poor grammer. Shouldn't an owner of a $5,000 component be able to construct an intelligent description of the item? Here's an example: "it s a excellent piece from Aragon,barely used . Give it to the best offer. Paypal plus%". (Don't flame me now!) Personally I won't buy an expensive item from a seller with no feedback unless they accept escrow. Should escrow be a requirement for no feedback sellers selling expensive goods? What does everyone think?

Mike
mikehdtv
Post removed 
I was recently burned for about $2400 on Audiogon, from a guy with no feedback. I thought, well, at one time I had no feedback, this guy is just getting going on Audiogon, I can help him out and we will do a deal.

From now on I will only use an escrow service for anything over $1000. If the buyer doesn't accept that then too bad, I will wait for a buyer who is willing to use escrow.

I talked to the buyer of my Denon AVR-5800 two or three times on his cell phone and he was an accomplished scam artist, very personable. I should have been more thorough in my research. After the burn I looked up apartment buildings in the Arlington, VA. area and found the address and phone number of the apartment complex that the buyer had the FedEx COD shipment sent to. When I called the apartment manager she said she had never heard of the buyer before, he had never lived there. If I only would have done that when the package was on the way then we could have set a trap for the ***hole. The buyer had me send the receiver by FedEx COD overnight. Shipping approx. $240. Story: his son was coming to town the next day for his birthday and so he wanted to surprise him with a nice receiver. FedEx attempted to deliver the package to the front desk of the apartments, couldn't find the recipient's name as a resident, package sent back to the local FedEx terminal listed as incorrect address. Next morning (busiest time of the day for shipping centers) someone shows up at FedEx, presents a forged Cashiers Check, and there goes my receiver. The check was well done, with the typical endorsement and security wording on the back of the check, etc. It was written from a fictitous Credit Union. Since the COD and shipping charges had been put on my FedEx account, then I was required to pay those to FedEx also.

My stupid bank took three weeks before they notified me of the fraudulent check, after I noticed a deduction from my account online in the amount of the Cashiers Check. FedEx only saves their security tapes for two weeks, so we could not get a photo of the guy, only a description by the clerk.

I did not do more research at the right time because I own my own business and am usually very pressed for time. I thought, hey, it's a COD shipment with a request for a Cashiers Check, what could possibly go wrong. I will never again be so naive (stupid). All you guys who are honest and forthright in your dealings and think of Audiogon as a cool community place where all the Audiophiles hang out and groove with each other need to wake up and smell the ca-ca.

There are people out there whose sole mission in life is to constantly think of ways to screw over other people. The internet gives them a wonderful opportunity to do that in countless different ways.

Buyer and seller beware!

Sign me burned and burning.
I have only conducted two private purchases on Audiogon and my experience was stellar. In each case i did have a conversation with the seller.

There are no guarantees and we are looking for something that does not have local dealer-reinforced guarantees. We must remember that the cheaper we want things, the cheaper the guarantees.

"However cheap you want it might be just how 'CHEAP' you get it.

I suppose you could contact a local 'agent' be he a Security Company, local used stereo store, whatever to 'broker' it for you. But, Hell, I am hoping that the true scam is jsut not that common.
I have purchased over $35000 worth of gear on the gon and sold close to as much, always pay by M/O ,always buy from members with good feedback .All items I sell are M/O only paypal charges much and pays slow. escrow is the same great for the buyer terible for the seller .If you are so worried about buying used online buy new gear from a dealer .Never been burned just was sold 1 item that was grossly miss represented .Be carefull and smart you will be fine.JK
We each have a different tolerance for risk. That said, there are certain common rules of common sense that should be universal. I appreciate those of you who have shared your cautionary tales above. I've bought $1000's on the 'gon and eBay, and each one was a judgment call. I've never been intentionally ripped off. Sellers have made honest mistakes, and fixed them when pointed out. I've walked away from offers that sounded too good to be true. They probably were.

I've also sent M/O's for up to $800 to total strangers and received beautiful gear. Overall, my eBay/Audiogon experience has been better and more fair than other mail order experience.

When in doubt, I ask the seller if he's willing to use escrow. If he balks, forget it!

How about these guys cut-n-pasting not just the manufacturer's pix, but 'gon members' pix? I recently saw speakers from an ebay seller in Texas. I recognized the background furniture from a 'gon seller in NJ. I asked the Texas seller, "What, is one speaker in TX and the other in NJ?"

No reply. I didn't bid.

Good luck