2. misc-audio
  3. 187411-74972

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.      

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lhasaguy's avatar
lhasaguy
339 posts
 

I have bought and sold coins on eBay for over 20 years.  The cost of PP is baked into the purchase price IMHO.  I would Never use F&F as it is too dangerous.  High ticket items >1,000 in my case go signature confirmation and registered mail if being sent to a grading company.  
 

I have never had a big deal go bad and my total sales approach 150K.  I am Not a professional dealer, just a knowledgable enthusiast.

Trust, but verify is my motto.  Among my dealer friends, personal checks are good that day on in person sales at coin shows.

chenry's avatar
chenry
202 posts
 

F&F is no more an "industry standard" than is under-declaring value on import goods. It is not an acceptable term for closing a business transaction.

Insuring product in transit is also expected.

 

 

mulveling's avatar
mulveling
1,916 posts
 

I have to admit, I didn’t even realize you could do F&F payments via credit card, until this thread. That seems - rife for all manner of schemes, scams, and abuse 😅

Using F&F can mean a fee from your credit card company.

Well that makes sense - of course PP is not going to set themselves up to lose money on the transaction. Did you mean your CC charged you an additional fee on top of Paypal’s for a F&F CC payment?

I'm definitely not a fan of our over-complicated tax code. Sometimes it feels like criminals and unscrupulous characters can get away with things all day, but if I don't dot all my i's and cross every t, they'll nail me to a cross.

chazz101s's avatar
chazz101s
11 posts
 

Did you mean your CC charged you an additional fee on top of Paypal’s for a F&F CC payment?

@mulveling ​​​Yes, extra fee from BofA of $27 (ballpark memory/trauma) on a $500 purchase.

coltrane1's avatar
coltrane1
796 posts
 

Why give your hard earned money to someone who you don’t know if they’re going to ship the item or not, if it will get damaged in transit or not, and you have no recourse to reclaim the money you paid?

No FF is for non credible sellers. End of story. 

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