posted on January 24, 2004 04:32:03 PM new
I am consigning an item that the seller wants $3400.00 for the reserve. It should make the reserve pretty easily since I've seen the same item from other listers go for at least that amount.
I was figuring out my fees for selling this, and realized that it would probably be better for me to sell it through ebay's system and save myself a minimum of $34.00 it will cost me in FVF through Vendio. I know ebay will charge me what they normally charge me for listing an item, plus the image charge if I don't use Vendio. Am I missing anything else? Anyone else have experience selling high dollar items and find it worth the extra bucks?
I also plan to offer Paypal and Western Union Auction Payments for payment options, but also wonder if Paypal or Western Union Auction Payments would even process a payment for over $3000? I know I would also get hammered with Paypal's fees as well. Should I look into other options for accepting payments for this item that would be very cost effective? Are bank EFT payments based on percentages, or a standard fee? Any help is greatly appreciated.
posted on January 24, 2004 04:57:23 PM new
posted on January 24, 2004 04:32:03 PM
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I am consigning an item that the seller wants $3400.00 for the reserve. It should make the reserve pretty easily since I've seen the same item from other listers go for at least that amount.
I was figuring out my fees for selling this, and realized that it would probably be better for me to sell it through ebay's system and save myself a minimum of $34.00 it will cost me in FVF through Vendio. I know ebay will charge me what they normally charge me for listing an item, plus the image charge if I don't use Vendio. Am I missing anything else? Anyone else have experience selling high dollar items and find it worth the extra bucks?
I also plan to offer Paypal and Western Union Auction Payments for payment options, but also wonder if Paypal or Western Union Auction Payments would even process a payment for over $3000? I know I would also get hammered with Paypal's fees as well. Should I look into other options for accepting payments for this item that would be very cost effective? Are bank EFT payments based on percentages, or a standard fee? Any help is greatly appreciated.
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.Well, it's going to cost you $34 to set a reserve on this item. Why not just start the bidding at $3400, then your listing fee will be $34 less. If you can, tell us what type of item it is. Some are more prone to buyer fraud then others. If you're not experienced in high ticket items, you should be concerned about buyer fraud more than anything else. The amount is too much for Western Union...their limit is $700. Paypal is fine, but again be careful. Bank transfer is best option for you as the seller. Pretty much 100% guarantee safety for you. Cost is standard fee of about $20(doesn't matter if the bank transfer is for $20 or 20 million). Cashier's check or personal check are also options, though both have a possibility of fraud
posted on January 24, 2004 05:42:22 PM new
Just thinking out loud here--what is wrong with asking for a money order sent via insured or express mail or Fedex?
___________________________________
"I have resolved to allow my friends their peculiarities." -- Samuel Johnson
posted on January 24, 2004 07:41:56 PM new
nothing wrong with sending money order via fed exp or any fancy exp.
there has been some fraudulent cashier check and money order floating around,thats why pointy said wire transfer is the best.
i agree,it depends on the item,some are more prone to fraud than others,say if it can be resold
-sig file -------the lobster in the boiling pot of water who tries to prevent the others from climbing out.
posted on January 24, 2004 07:57:48 PM new
I accepted a check for $3,000 for an ebayish item. (ok, shhhhh! it didn't meet the ebay reserve price and somebody offered me a fair enough amount for it that it wasn't worth relisting and paying the additional fees)
anyway, I accepted his check for it. it didn't bother him that I said I would accept it only if I could hold the check until it cleared. Plus, I called his bank's 800 number and they said there was enough money in the guy's account to cover the check. he had a business so I didn't worry about it.
posted on January 24, 2004 08:15:21 PM new
Hello, in the past I have done paypal deals for around your selling price. All was fine then but today I am real shaky about paypal. I just sold a $600.00 watch to Japan. The guy wanted to paypal me I said no thanks. I asked for a international money order or auctionpayments.com payment. The guy wrote back saying he was sending cash by registered mail.
posted on January 24, 2004 09:10:08 PM new
hello: i just sold a high ticket item. i required personal check or cash. i trust personal check because bank can be contacted to verify that check has been paid...then i ship-not before...the same could be done with cashiers check, but its easier to keep copy of the check before depostiting; then ask your bank to call after seven[or whatever time-frame you establish.] your reference to vendio FVF confuses me...hope someone can help us both...it is my understanding that, unless you subscribe to their variable rate progams, there is no FVF...but you pay hosting price no matter what..but my program is $19.95/mo. with no limit to images-right now i have over 500 uploaded...everytime i list or relist, vendio charges me 20cents per listing--thats all...
now, as an example, per the vendio sales manager...if you should list your item with $3400 reserve using the following ...bin[.25] + 10 day auction[.10] + gallery [.25] + insertion fee [3.30] + reserve fee [34.00] = $37.70...plus the 20 cents to vendio...
i think that is about the MAX you would spend, unless you choose some of the additonal areas to help with the marketing...
have a nice one., myoldtoy
posted on January 25, 2004 04:36:24 AM new
Hello, I may be wrong here (seems I am batting a thousand lately ) but one good thing about listing thru vendio, I think, is ebay only keeps your sales records for 3-4 months? - and you can access your archives longer than that on Vendio, should you have any problems down the road. I would think with a high ticket item you might want to keep that in mind because things do come back long after you think they are done with.
posted on January 25, 2004 06:49:37 AM new
just want to mention a recent case of check fraud-someone wrote a business check ,after item is received,called the bank and said it is a forged check and some disgruntled employee wrote it.
the bank took the money back from the seller account.
-sig file -------the lobster in the boiling pot of water who tries to prevent the others from climbing out.
posted on January 25, 2004 08:57:47 AM new
Could someone *please* verify whether Ebay keeps our listings info only 3-4 months? I hope it's true because I have an inquisitive relative who wants to dig back further (I think).
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"I have resolved to allow my friends their peculiarities." -- Samuel Johnson
posted on January 25, 2004 10:21:01 AM new
They keep the auction live for 90 days. Then it will become a no longer in our data base listing. It will stay in your "my ebay" page for 30 days. Then if you know the auciton number, you can access it for another 60 days doing a auction number search for a total of 90 days.
posted on January 25, 2004 10:57:10 AM new
Thanks, stonecold. I appreciate the information; that is a relief.
___________________________________
"I have resolved to allow my friends their peculiarities." -- Samuel Johnson
posted on January 25, 2004 12:26:18 PM new
There has to be some level of trust here. If you make your payment options so difficult or punitive you will scare some buyers away and create distrust among others – both will cost you. A middle ground might be to accept PayPal from domestic buyers only and to accept all checks and money orders from anyone. I frequently buy at sell items at this level and expect a certain amount of trust in a seller’s listing or I simply walk. You have the advantage of being able to hold the item until payment clears and can often verify payment authenticity with a phone call.
You didn’t note if your item is an antique, but ebay is killing the high end antique market on their site with their 1% reserve levy. If you have to relist the item several times with a reserve, the selling costs can be prohibitive. On the other hand, you’ll get many more bids, and are more likely to sell the piece with a low opening price and a reserve, than by starting the auction at what would be your reserve amount. Since it’s not your piece, and you stated that $3400 is a good price, I’d go the low cost lower probability of selling route and start at $3400.
If this is an antique then many detailed photos are helpful. Photo quality and quantity on ebay can be limited. The Vendio templates allow you to post an almost unlimited number of photos that can be blown up to useful sizes. I believe ebay limits you to six photos and the supersized dimensions are relatively small.
posted on January 25, 2004 04:13:48 PM new
Here is a Work Sheet of what it cost to sell using eBay, launcing your auction and hosting your pictures using AuctionWatch and accepting PayPal Payments.
posted on January 26, 2004 11:46:32 AM new
I know the Reserve will be $34, but I'm collecting over $600 on commission fees. This is an auction where the seller will know my id and will probably check on it, so I kinda have to stick to the reserve, otherwise they'll think I'm ripping them off in fees. Thanks for the heads up on the Vendio charge max of $4.95. In that case I will still use venio since it will save me the headache of using their system and will cost me only a buck or two more in the end.
I only accept Paypal from Confirmed Accounts, but you are right about the fraud concerns. I think I am going to stick to accepting a Cashier's Check, Wire Transfer, or possibly a money order. I used to work in banking, and I'll tell you this much. Even if a check clears your bank, it doesn't mean the account holder can't go back and issue a stop payment, or claim it is fraud. They can easily go back and tell the bank to stop payment on it, even if it cleared your account. The bank will issue the Non Payment to your bank, and your bank will remove it from your account, even if you thought it had cleared. This happened to me several years ago. I don't know if that has changed, but it has happened to me.
Thanks for the heads up on the Vendio charge max of $4.95. In that case I will still use venio since it will save me the headache of using their system and will cost me only a buck or two more in the end.