should this be a red flag?

[Dudley the 1st]

Trust your instincts and please don’t request a “non-refundable deposit”. On E-bay there is no such animal.

Sure there is, deposit to be paid by money order not paypal.

(thumbs u

[johnny9434]

I had a buyer ask the same thing on a roll of circulated Morgan dollars. He bid strong so it was worth it for me to wait for payment. In my case, everything went smoothly. Obviously you wont ship until payment clears so, worst case is you have to wait another month to sell your item if buyer backs out.

 

sounds like a plan to me if you want to go this way. dont get to used of it thou.

[mtnstyne]

After reading this I feel bad for the buyer...more times than not honesty, integrity, and being proactive will cause you more problems than if he just bid and asked forgiveness later.

 

I personally would accommodate him.

[chrisp2005]

I've recently run into this. Sold a $300 gold Iranian 1/2 Toman. Buyer hadn't paid within three days so I sent an invoice. Told me that he had to wait two weeks for his next paycheck, and was sorry for the inconvenience. Two weeks past, then three...well non-paying bidder case just closed, and all the other people that put "best offers" on my coin are no longer interested.

[Raisethis2]

ya, but the price of gold is a factor in your failed sale chrisp2005.

 

Different sort of reason I suspect.

[coinman1794]

When someone on eBay asks if they bid on a coin and pay at the first of the next month.

This guy says he is on a budget and already used his coin budget for the month but really wants my coin.

He says he will bid strong..........he has good feedback...........?

ThAnks nick

 

It is not a red flag for someone to ask for time to pay for a coin, but you as a seller have to be smart about it, too. Offer a layaway, collect a down payment, and charge a deposit for cancelation.

[ultra-crepidarian]

Trust your instincts and please don’t request a “non-refundable deposit”. On E-bay there is no such animal.

Sure there is, deposit to be paid by money order not paypal.

 

You are not running your business when you use E-bay. E-bay runs your business. You deviate from the standard operating procedures and you risk E-bay coming down on you like a ton of bricks.

 

The original poster stated: “I would need a non refundable deposit” to permit you to bid. You accept the deposit via a money order and the bidder loses the coin to a higher bidder.

 

You don’t refund (that is what non-refundable means). The potential buyer runs to E-Bay and files a complaint. How do you think that will work out for you? This is exactly how sellers get themselves in trouble with E-bay and PayPal. They try to make these side deals.

 

The system is so loaded against the sellers; to make any deviations from the standard procedures puts you at risk for account suspensions and PayPal lock-downs. I still think my original advice is sound.

 

[KeeNoooo]

I was only going to ask for a deposit if he won the auction...

I wouldn't dare ask for one before the guy even won it.

Either way, if the guy wins, pays me in a month then great.

If he doesn't, I do non payment and get my fees back. I'm in no hurry to sell this particular coin especially since it didn't go for as much as I hoped.........

Thanks everyone!