akmcmc1
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posted on January 17, 2004 05:25:08 PM new
I have a very high dollar item up for sale on ebay. I just received a question asking me if I would consider an escrow service for the winner.
I have never used escrow and I know very little about it.
My fear is that this guy would use the escrow, and then possible tell the people that he didn't receive the item, or the item was a fake, and I won't get my money. Can something like that happen?
Any thoughts or experiences on using an escrow service? I appreciate it! 
Thanks
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pointy
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posted on January 17, 2004 05:29:17 PM new
Sure.....escrow services are set up to protect the buyer, not the seller. A scenario like you describe is exactly why I would never use an escrow service as a seller.
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dadofstickboy
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posted on January 17, 2004 05:34:04 PM new
You can't blame them!
If you were buying a high end item you would want some kind of assurance you wouldn't be taken to the cleaners!
You read about buyers being hung out to dry on Ebay all the time!
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akmcmc1
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posted on January 17, 2004 05:55:43 PM new
You're right dad, I can't blame them a bit. I do offer Paypal, which could be just as scary for the seller if they do a chargeback LOL
And this particular catergory can have a lot of fraud, espeically for what I'm selling. So I can't blame anyone a bit for being cautious, but at the same time, I don't want me to be the one set up for a scam.
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dadofstickboy
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posted on January 17, 2004 06:26:06 PM new
It's a catch 22 situation.
The buyer doesn't want to loose money, by buying a worthless item.
And on the same hand you don't want to loose the item or money to a underhanded buyer.
Guess all you can do is STICK to your TOS
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parklane64
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posted on January 17, 2004 06:31:40 PM new
Here is a site for verifying an escrow co.:
http://www.sos4auctions.com/escrow/escrow.asp
I have never had to utilize it.
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stonecold613
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posted on January 17, 2004 11:03:45 PM new
I have used escrow services twice in the past and all has worked out very well. Bad thing is it was so long ago I can't remember for sure which one it was. I think it may have been the one offered through ebay back when you could do lower cost items.
In this case, I would go ahead and use an escrow service, but use one that you pick out. DO NOT USE ONE THAT THE BUYER IS RECOMMENDING. There has been many bogus ecrow services set up by fraudulant buyers and this could be one of them. If this buyer insists upon one he/she is recommending, then pass on the transaction.
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sparkz
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posted on January 17, 2004 11:10:43 PM new
Stone is right. The latest scam is fradulent escrow services. Only use a service that has been approved by Ebay. Go to the site map and find out which of these services are approved. I believe there are two approved by Ebay.
The light at the end of the tunnel will turn out to be an oncoming train.
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dejapooh
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posted on January 17, 2004 11:16:25 PM new
Escrow services look to the Delivery Confirmation... once delivery has been confirmed, they have a set number of days to send the item back or verify payment. They could send back an empty box I guess.
They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety. B. Franklin
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stopwhining
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posted on January 18, 2004 06:27:14 AM new
ask your buyer if he can arrange for someone in your town to come and inspect the item.
-sig file -------the lobster in the boiling pot of water who tries to prevent the others from climbing out.
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stopwhining
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posted on January 18, 2004 07:20:00 AM new
years ago there were plenty of escrow services offered on ebay,by now most have folded/
one problem i encountered as a seller when buyer insisted on escrow back then and it does not matter which escrow service is used -if the buyer is a dealer,he may drag his feet claiming he travels and he is not available to inspect the item or he just need more time to inspect the item,what really happens is that he is passing your item among his clients and waiting for payment.
so,it does not hurt for you to ask your high bidder if he is a dealer looking to resell the item,does he have a client lined up to buy the item??
if he is a seasoned collector or a dealer,he may know someone in your area who can serve as his escrow agent,you bring the item to this agent and have him inspect the item according to buyer specification.
if all is well,leave the item with him,collect the money and come home.
-sig file -------the lobster in the boiling pot of water who tries to prevent the others from climbing out.
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