Buyer Paid Way Too Much.... Scam?

[ubet426]

I just sold an item.... It sold for $3,700 when I was expecting about 1/3rd of that.  The money is pending in my PayPal accound and I'm not sure where the scam is...   What am I missing?  Will the buyer wait until they receive the item and then dispute it with PayPal?  Keep the item and receive a refund?  How do I protect against that?  There were two buyers bidding way too much for this item...   I just don't get it.  Any insights would be much appreciated.

[thatsallfolks]

Most likely, the payment will never leave the “pending” state. The buyer will hope you ship without checking. They may email you to pressure you into shipping. Ignore the messages.

[hidy-hoo]

@ubet426  Hi, ubet, and welcome to the Part Time eBay Sellers group!

Considering that you are a new seller and selling in a highly scammed category ~ electronics ~ then  yes, this is most likely a scam...good catch on your part.

The faux buyer is hoping that you will ship before the payment clears, which unfortunately happens quite often with new sellers.

Always go directly to PayPal to see if the payment has cleared and PayPal notes "OK to ship"..never rely on an email as they may be fake.  If the buyer doesn't pay after exactly 2 days, open an Unpaid Item Dispute and close it exactly 4 days later...you will receive a refund on your FVFs and you will be able to relist, although I would politely suggest that until you have quite a few more sales, you should probably stick to selling widgets with a lower dollar value.

Please come on back if you have any more questions as the part timers that reside in the Group Home always aim to help! 

[hidy-hoo]

  Great minds.....!  Two or more of the same opinion is a good thing...it takes a village to keep the sellers safe!

[seahaulma0]

Thank goodness for this thread. I put a Galaxy S8+ up for auction and it sold for a whopping $3000. That's more than 3 times the price for a brand new unit. I thought something was up. 

[allamericancashexchange]

there more & more buyers with 0 feedback on here who are bidding items up 2 to 3 times the value.  Then if you dont catch it you have to wait a week to relist it & have it happen again...  SUCKS