Buyer with 0 feedback just made an offer on a $5000 item - safe to sell?

[originalskincoins]

I've been selling on eBay for over a decade, and not had any issues with scam buyers so far, but this one gave me a little pause due to the value of the item. Am I taking a high risk by selling a $5000 item to a 0 feedback buyer? The buyer's account was created 6 days ago. 

I could potentially film myself packing the item, if that would help at all with a SNAD dispute. Beyond that and signature tracking, anything else I could/should do to protect myself if I decide to sell? 

[wastingtime101]

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@originalskincoins wrote:

Am I taking a high risk by selling a $5000 item to a 0 feedback buyer?

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FB score is irrelevant. You're taking a high risk selling a $5K item.

What was the offer amount?

[klhmdg]

Doesnt matter 0 or 500...

I would never sell a $5000 item. There is nothing a seller can do to protect themselves.

You will most likely lose the item and your money.

Good Luck with your choice!

[gweb_80]

6 days ago? yikes. Unless it’s been sitting a while I wouldn’t risk it

[originalskincoins]

$200 under the list price. 

[originalskincoins]

Plenty of sellers in my category (coins) sell items in that price range, so maybe I'll have to do some research to figure out what best practices they follow. I sell a lot within the $1k-2k range, and haven't had any issues there. 

[a_c_green]

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@originalskincoins wrote:

I could potentially film myself packing the item, if that would help at all with a SNAD dispute. Beyond that and signature tracking, anything else I could/should do to protect myself if I decide to sell? 

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It would not matter; eBay does not include video evidence when settling disputes, and the majority of disputes go in favor of the buyer, since eBay themselves cannot tell who to believe in he-said/she-said disputes.

Thus their solution in most cases is to "unwind" (their term) the transaction by enforcing a refund to the buyer and a return to the seller (if desired). The buyer could claim an empty-box delivery, or return something of lesser value, and you would be expected to refund regardless. (I know I'm oversimplifying a lot of the details, but the gist of it is that the buyer usually wins.)

In other words, you're taking a risk by selling a $5K item to anyone here. If that's a risk that you're comfortable with, such that you can eat a $5K loss occasionally, then carry on. (I think you can claim the loss on your taxes at least.)

[dbfolks166mt]

     I would never list a 5K item on eBay but I am going to assume this offer is for one of the coins you have listed. Coins tend to be a high scam target item since they are easy to resell or melt down. There are a couple of things I would check and/or do to reduce your risk. First where is the potential buyer located domestic or foreign? If foreign what country? This may make a difference with regards to your options if you decide to sell and ship the item. 

     If you do go through with this sale I would recommend sending it registered mail with restricted delivery and insurance to the full replacement value of the item. I would also let the buyer know your intentions with regards to shipping the item to see if they are still interested. 

Registered mail gives you several things. 

1. You get a Registered Mail receipt when you first mail your item at the post office. The recipient must sign for it.

2. If you want proof of delivery you can buy a Return Receipt service or Return Receipt After Mailing. You’ll get electronic verification of delivery or a delivery attempt.

3. Restricted delivery service means only the addressee can receive the mail.

4. Your mail stays in a locked cage, safe, or sealed container while it’s transported. Electronic and physical signatures at each USPS facility show the chain of custody, so you know where the piece is every step of the way.

5. Registered Mail uses specific packaging and sealing methods to keep mail safe and secure. When a Registered Mail piece isn’t in transit, it’s stored in a secure safe, cage, or room away from other mail.

[katzrul15]

@originalskincoins 

Can it be delivered via a courier/delivery service that will have the actual person sign for the coin?  Does not protect you with a SNAD, only an INR.  

Just curious - how was it paid (when you go to print a packing slip it will tell you)?  

[dryophelia]

@originalskincoins 

Does your business model have a contingency fund in place to cover a $5000 loss? If not, it should not be listed.

Signature confirmation, while required for items over $750, is moot. Most carriers have eliminated the collection of signatures because of Covid protocols. Even with a signature, the buyer can return a couple coins from their pocket instead of the coin you sent and be granted a refund. 

There are so many ways to be liberated from anything that is sold online that sellers really have to consider what they can afford to lose. Feedback of the buyer has no connection to the validity of the person behind the account. Scammers hijack accounts with thousands of feedback, too.

As for video recording any part of the process... don't bother. The buyer always wins and the seller is never asked for their side of the story. 

My business plan has a ceiling of about $150 and even at that amount, I Kegel with every eBay email until that 6 month PayPal/credit card protection passes. I can't relate to $5000.

[originalskincoins]

Very helpful, thanks for the thorough response. The buyer is located in a city in Orange County, which actually fits well enough with the type of person willing/able to spend $5k on a coin.

I may shoot them a message telling them that I would be shipping this coin via Registered Mail, and asking them to confirm they're OK with that before I accept the offer. Assuming they respond, the content of their message itself might also help provide some reassurance (or red flags). 

[albertabrightalberta]

There's no way I'd take a risk on a $5k with a 6-day old account! 

[originalskincoins]

A $5000 loss would certainly be a gut punch, but thankfully not a crippling blow. I guess it makes sense that video recording isn't sufficient in eBay's eyes. At least one of the big coin/bullion dealers does it, but I'd bet they get most of their protection from having actual eBay account managers working with them. 

[downunder-61]

I would be tempted to decline the offer and block the buyer.

The only reason I say this, is because I would imagine anyone wanting to purchase a coin at the price would be a pretty serious collector and if that was the case, I would expect them to have used eBay as a purchase platform in the past, just my take on it.

There is no 100% certain way of protecting yourself against an empty package (INAD) claim

[redmodelt]

I would not even message them. Once you have, leaves the door open for further communication if you block them.