How popular is Wire Transfer.....


I hear good and bad about using wire transfer to pay for audio equipment, on a site like this or otherwise.
I have not used wire transfer yet, and have had deals walk away because I did not use that system.

I have no idea how one even go`s about doing that.
Some comment and info?
Thanks,
Len W
lwerner
If a thief wants your money he'll go to most any length to get it. There is no guaranteed system that protects both buyer and seller. 8 years ago some thief in Florida established a bank account using false ID. He then listed great buys on gear, and sold the gear dozens of times making victims of dozens here on AG. All AG could do was shut down the sellers AG account. There was no recourse with any law enforcement investigation for the thief had used false ID. I'm retired LE, so even I am was not immune to getting burned. Bottom line is, seller or buyer, someone is rolling the dice and there's always the possibility of being burned. I agree, the feedback does give one a better idea of the character one is about to do business with.

Paypal contract states it does not honor 3rd party contract sells. Therefore I as a seller refuse to do overseas transactions. I'll sell the item to the buyer and ship it to a US intermediary chosen by the Int'l buyer with the understanding that my obligation ends once the item is signed received by the intermediary. Of course it's the int'l buyer's intermediary who is responsible for shipping the item to the int'l buyer and not mine. Paypal is very upfront about this in the rules, so if you're doing int'l sales you're rolling the dice for Paypal won't back you. Personally, if I can't find a buyer in the US I don't need to sell it overseas. But if I do have a rare int'l sale that sale and my responsibility for it ends on US shores, not elsewhere. Be smart, do your homework, that's the best anyone can do for there's no failsafe system. Such is life.
Thanks to all who have sent "in depth" explicite replys to the wire/bank transfer question,
Len W
Actually, just another question. From a Buyer's perspective, how much comfort does one have in buying gear off eBay using the eBay Buyer Protection Plan?? Right now, I am working out a situation with an eBay Seller whose equipment was damaged in transit. We ARE working the problem out, and so far so good. Nevertheless, I contacted the eBay Buyer Protection people to set up a case file just in case. Although I fully expect that my Seller will act honorably, I assume that the eBay Buyer Protection Plan will provide some level of back up.

Maybe A-gon should try to put in place some type of Buyer protection plan similar to what is on eBay????

Nonetheless, I agree with the folks who mentioned that the best protection is to deal with parties who have excellent feedback, either on A-gon or eBay. Thank goodness, so far I have been very lucky in that, either as Seller or Buyer, I have never had a problem.
Try cash on pick up, it works well. You get a chance to test and fully inspect the equipment, no transit damage, you know where the seller actual lives. Always, and mean always get a bill of sale and a sign off the the seller owns and has title to the equipment and is authorized to sell it. Yes, it will limit your selection but in avoiding the payment and condition issues is well worth it. While this rule applies to all gear, it especially applies to turntables.
Geez Buconero, if you live in timbucktoo so much for acquiring much product.

If one is too afraid or paranoid to purchase gear on the used listings why even bother spending time on AG?

As far as AG offering a buyers support service like eBay I don't see that ever happening. eBay owns Paypal. AG owns nothing therefore in the one issue I've had over 13 years the one time I needed assistance they had nothing to offer. This of course was the theft of funds associated with an amp that was sold to dozens of victims. But then again, what was AG to do. Buyers are on their own here and if they don't know it you should know it.