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#1
06-12-2010, 01:11 PM
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would you take paypal for a local transaction?
i have my old bass stack up on craigslist, and one guy says he's really interested and wants to lock it in by paying now by paypal. while it isn't a check, money order or wire - all of which i wouldn't consider for a second - my first thought was not to take paypal. but as i think about it, i'm not sure why paypal would be a problem - i just feel like it is.
any thoughts or experiences on taking paypal for a local transation? thanks! 
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#2
06-12-2010, 01:17 PM
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Well lots of us who buy and sell all the time keep the money as a paypal balance because:
A. We might buy tomorrow and getting it into our checking accounts can take too long and we don't want the money in limbo. B. There's a mechanism there, even if it isn't perfect, if things go south on the deal. So yeah, with instruments, I'm always prepared to pay, or receive money through paypal. I consider the fees a cost of doing business until regular folks start taking credit cards 
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#3
06-12-2010, 01:24 PM
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Although it might be unusual to use PayPal for a local transaction, I can't see how it would be any riskier than in a distant deal.
If the PayPal fee is an issue, you might consider accepting, say, $100 via PayPal (clearly annotated as a down payment, with balance of $xxxx to follow) and take cash for the remainder. However, if the buyer's willing to pay your asking price, even though you might have accepted less, then the PayPal fee might be inconsequential to you.
__________________
Yours truly, Dave Morefield A veteran is someone who at one point in his or her life wrote a blank check made payable to 'The United States of America' for an amount of 'up to and including my life.'
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#4
06-12-2010, 01:27 PM
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the paypal fee isn't an issue to me. i guess my thought is that with ebay, i don't let people with poor feedback or first timers buy anything expensive, so to some extent the buyers are pre-screened. my thought was the buyer could easily go home and create a claim and cause me a hassle, but then i suppose paypal would expect him to return the stack.
i guess seeing so many scams has jaded me. honestly i can't see why it would be a real problem.
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#5
06-12-2010, 01:30 PM
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Maybe what the guy really wants to do is to use his credit card for the transaction and that is the only way to do it.
-Dave
__________________
2011 Taylor Custom GS (Adi/Rosewood) 2012 Taylor 814LTD 2008 Fender Telecaster 2010 Kentucky Mandolin Guitars of the past: Alvarez AD60, 2007 Taylor 110ce, 2006 Taylor 710ce, Taylor 2008 GS Fall Ltd, 2010 Taylor 814ce, 2010 Taylor K26ce, 2006 Blueridge BR-361, 2011 GSMini, 1980 Ovation something or othe, Taylor 714cer
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#6
06-12-2010, 01:33 PM
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No experience on taking paypal on a local sale or using paypal on a local purchase.
My concerns would be two fold: 1. No need to pay the fees when you don't need to. Split those dollars with the buyer and both have a win-win. 2. The risk that the buyer is not ethical and will file a dispute with paypal tying up the money or forcing the seller into a post-purchase-renegotiation of the price. IMO, it is best to use cash for local transactions.
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#7
06-12-2010, 01:33 PM
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#8
06-12-2010, 01:51 PM
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#9
06-12-2010, 01:53 PM
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#10
06-12-2010, 02:05 PM
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Not sure it would be worth it unless you have a strong history of using paypal to accept payments.
I don't sell a lot on ebay or accept a lot of payments using paypal. I just recently sold a guitar for nearly $1100. The fees were $34. My money is also being held by paypal for 20 days or when the buyer gives me positive feedback. The only way you get your money immediately is if you are an established seller on ebay or you have a PayPal debit card, which by the way is subject to credit approval. I don't know why these people feel the need to check my credit in order to give me access to my own money. I won't use the system again to accept any kind of payments. I wasn't aware of the payment hold policy. If you have concerns, check it out on the paypal website. Had I known about it before, I wouldn't have accepted payment using paypal.
__________________
Chad Clifford 2004 Taylor 414CE-L7 2009 Taylor 214 2007 Martin OMCX1KE
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#11
06-12-2010, 02:43 PM
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I have used PayPal for a local Craig's list purchase. I got a computer and really didn't want to take the cash with me and the seller, understandably, didn't want a check. We met at Atlanta Bread Company, I had a chance to test the computer using their hot spot, then I paid via PayPal and when he saw it arrive in his account he gave me the computer. Depending on the amount of the item, PayPal can make a lot of sense for both the buyer and seller. If you're concerned about a buyer filing a complaint and trying to get out of the PayPal payment after the fact you can always have the buyer sign a receipt for what has been sold. just my .02
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#13
06-12-2010, 03:54 PM
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I suspect the buyer is using a credit card. It's possible he doesn't have the funds any other way.
__________________
woody b politically incorrect since 1964
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#14
06-12-2010, 05:36 PM
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Quote:
Go figure.
__________________
Yours truly, Dave Morefield A veteran is someone who at one point in his or her life wrote a blank check made payable to 'The United States of America' for an amount of 'up to and including my life.'
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