Protection while selling one-off, irreplaceable high value item

[shaun-nz-23]

I've written up a listing for a high value item starting at $50k USD. The item is currently located in Melbourne, Australia and the preference is that the buyer will fly over to pick it up manually. From what I can see with ebay is that if it sells here the funds will be held by ebay until the buyer is happy with the purchase. Because this is a one of a kind item that cannot be replaced, if the buyer decides to take the item and then claim a refund through ebay, is there anything I can do to not get completely screwed? From the reading I've done ebay seems to side with whatever the buyer says 99% of the time. But there's a very real possibility that once the item is handed over I'll never see it again and never see the money. I was thinking of doing a sale where the money gets held in escrow by a lawyer but I don't see that as an option through ebay.

If I go with ebay to do the sale do I just have to take this risk?

[dbfolks166mt]

     I would NEVER list a 50K item on eBay to begin with. Not sure what the item is but what you are describing is basically a listing with local pickup only. Not sure what the item is but lots of risk here and potentially a high value target for every scammer out there. 

     If this is a rare collectable item it may be something better sold through a high end auction company like Sotheby's or Christie's. 

https://www.ebay.com/help/selling/shipping-items/setting-shipping-options/local-pickup?id=4181 

[slati_2013]

I would make it clear you are accepting cash only and if the buyer decides to pay electronically, you will cancel the sale. Cash only. As suggested above, you might want to check out auction houses if you have a one of a kind, very sought after item.

There is not much eBay can do to protect you if a scammer picks it up then turns around to make claims about the item. Many sites specialize in selling high end expensive items. For example watches. I would research this thoroughly if I were you before putting it up for sale anywhere. 

[shaun-nz-23]

Thank you. I had approached Goldings previously which didn't lead anywhere, but both of the ones you mentioned I'll reach out to about what we can do. The scary part of doing this way is that they'll want us to send it to them which puts a lot of trust (or money for insurance) up front in the shipping company to not lose/steal it while it travels internationally. I'll get in touch with them and look into options. Thank you for the suggestion.

[dnasilver]

How many scammers can come up with 50K? 

[toysaver]

"the preference is that the buyer will fly over to pick it up manually"

Curious that you don't want to sell it locally to a buyer that will drive over and pick it up.  Melbourne is huge with a population of over 5 million and that many more in the urban areas around the city.  Curious why your listings are only targeted at the US, no worldwide shipping?

"I was thinking of doing a sale where the money gets held in escrow by a lawyer 

You can get ripped off by anyone at any time, even a lawyer...

[shaun-nz-23]

I mean sure the person who would be interested in buying it might well live in Melbourne or at least Australia, but I think limiting a one-off item to one country (or 2 considering NZ) wouldn't really do the seller justice. It would be listed as an auction rather than a sale. Not targeted at the US in particular, my current and sold auctions have been worldwide and I want to cast the net wide to get the highest price for this item.

[dryophelia]

@shaun-nz-23 

THE RISK IS ALL YOURS. 

Never list what you can't afford to give away.

A seller must fully understand the eBay Money Back Guarantee, it's loopholes and disregard for the seller. 
No returns doesn't mean no refunds. It just means the seller doesn't want the item back. The eBay MBG will refund without requiring the item be returned to the seller.

New sellers are often taken advantage of by con artists and scoundrels, especially if they list expensive items. 
I have been on eBay for decades and won't list anything over $150. That is all my business plan will allow me to risk. The fact you are selling for someone else adds another level of complexity. Buyers that pay with a credit card have sometimes 6 months to dispute the charge. 

As a legitimate buyer, I wouldn't risk much money on a new seller with a $50K item. It would make sense to me, an item of that value would go through an experienced auction house or semi-private sale.
I'm looking at a seller registered in NZ, selling an item located in AU, and listed on the USA site. It sounds like you don't even have this item in your possession. More red flags.

It is not possible for me to list here all the reasons NOT to list such an item online, not just eBay.

[epowerbargains]

Agree with dbfolks166mt - I would never consider listing such a rare high value item on any online platform. Many people will tell you, "Never list anything on eBay that you can't afford to lose".  A skilled scammer can target you and your item making recovery of your rare item somewhere between impossible and very costly. 

[shaun-nz-23]

Thank you for taking the time to reply and reaffirming the MBG and the heavy risks it would hold for going about it this way.
Just for sake of clarity and in case you're interested. I'm in Wellington NZ. My closest friend who I've known almost my entire life who owns the item lived here too until August last year when he moved to Melbourne for work. He gave me the task at the beginning of 2023 of trying to find a buyer for it. I wasn't particularly interested in taking on the risk of physically having it myself so he took it to Melbourne. I understand the convolution this creates from a buyer's perspective for sure.
I'm using the US site as NZ doesn't have one and I overlooked the idea of using the Aus site for setting this up which would have been the better idea if I had gone with ebay.

In regards to Auction houses. I reached out to several in NZ who came back and effectively said they had no clue what the item was. It's a Lord of the Rings Games Workshop miniature that was a custom made gift for Peter Jackson. The owner was close family friends with him and was given this miniature which he has kept safely tucked away for the past 20 years. The problem with this is that without much public information about the miniature it makes it hard for auction houses to get a good value on it. As suggested above I have sent Sotheby's an email explaining the item and fingers crossed I'll get a response with a path forward.

I did email Goldings last year which fizzled out almost immediately. The first problem is getting it to the auction houses to get graded or authenticated which poses a big risk putting it in the post to send it to them. With such an item there are massive risks at every corner which has become more and more apparent at every step of the process.

As far as ebay goes, I'm no longer looking to do an auction/sale as it's just not the right platform. I really appreciate the responses.

[kensgiftshop]

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@dnasilver wrote:

How many scammers can come up with 50K? 

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That's why they try to steal the item before putting out any money.

[kensgiftshop]

On Ebay, you wouldn't have any more protection then someone selling a $0.75 toy.

Being a new seller and it being over $1000.00, they would hold the funds for 30 days or longer.

[slati_2013]

"In regards to Auction houses. I reached out to several in NZ who came back and effectively said they had no clue what the item was. It's a Lord of the Rings Games Workshop miniature that was a custom made gift for Peter Jackson. The owner was close family friends with him and was given this miniature which he has kept safely tucked away for the past 20 years. The problem with this is that without much public information about the miniature it makes it hard for auction houses to get a good value on it. As suggested above I have sent Sotheby's an email explaining the item and fingers crossed I'll get a response with a path forward."

Okay so this is not like a Rolex watch with a known value. If I was to guess, I would say you will probably end up accepting an offer for far less than the asking price. I would guess it would be a big fan and collector and the risk of scamming I would say is a bit lower. 

[chevymontecarlo88]

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@shaun-nz-23 wrote:

Thank you. I had approached Goldings previously which didn't lead anywhere, but both of the ones you mentioned I'll reach out to about what we can do. The scary part of doing this way is that they'll want us to send it to them which puts a lot of trust (or money for insurance) up front in the shipping company to not lose/steal it while it travels internationally. I'll get in touch with them and look into options. Thank you for the suggestion.

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You may want to consider (if possible) to deliver the item to an auction house (Goldings?) in person rather than hiring a shipping company. In the past i have sold many high end guitars where it was worth flying to the destinations (sometimes buying a seat next to me for the guitar) rather than having a shipping company deal with it. Obviously it depends on your finances and the size of the item you are selling but it does take the stress away from worrying about shipping. Although i do remember when going through TSA back in (2003 or so) they made me take the strings off of the guitar before boarding the plane. 😂 They almost did not allow the guitar to be taken on even though i purchased an extra seat/ticket next to me. That was stressful but TSA has relaxed a little since that time. Good luck

[aproudparent2010]

I would never list an item of that value on eBay.