Selling on the forum using PayPal.

[Beano]

I'm looking to sell some gold on the forum. I've never sold on the forum before. Could anyone tell me if PayPal is safe to use? What happens if the buyer denies receiving the item? Can they take it up with PayPal and get a refund? I have no worries selling to someone with good trader feedback, im just a little worried about selling to people with little or no feedback at all. I myself have no feedback. Will i struggle selling £300+ coins? any help much appreciated. Thanks in advance.

[ChrisSilver]

From my understanding, though I may be wrong. PayPal goods and services payments offer the buyer buyer protection and is designed so that they can get a refund through PayPal should the item not arrive etc. PayPal friends and family payments do not offer this protection and therefore assuming they can’t be reversed (though you would need to discuss with PayPal for a more accurate answer)

You could always accept bank transfer? It’s a common form of payment on the forum. Though note, though harder, it is theoretically possible to also reverse a bank transfer.

To make transactions more secure, sending by a tracked and insured service like Royal Mail Special Delivery may be useful.

When listing items it is good to also list with photos of your username written on a price of paper next to the item, this helps to give more proof that you most likely have these items in hand. 

[Beano]

10 minutes ago, ChrisSilver said:

From my understanding, though I may be wrong. PayPal goods and services payments offer the buyer buyer protection and is designed so that they can get a refund through PayPal should the item not arrive etc. PayPal friends and family payments do not offer this protection and therefore assuming they can’t be reversed (though you would need to discuss with PayPal for a more accurate answer)

You could always accept bank transfer? It’s a common form of payment on the forum. Though note, though harder, it is theoretically possible to also reverse a bank transfer.

To make transactions more secure, sending by a tracked and insured service like Royal Mail Special Delivery may be useful.

When listing items it is good to also list with photos of your username written on a price of paper next to the item, this helps to give more proof that you most likely have these items in hand. 

Would you recommend PayPal F&F over bank transfer then?

[AndrewSL76]

1 hour ago, Beano said:

I'm looking to sell some gold on the forum. I've never sold on the forum before. Could anyone tell me if PayPal is safe to use? What happens if the buyer denies receiving the item? Can they take it up with PayPal and get a refund? I have no worries selling to someone with good trader feedback, im just a little worried about selling to people with little or no feedback at all. I myself have no feedback. Will i struggle selling £300+ coins? any help much appreciated. Thanks in advance.

Sometimes you just have to just jump in at the deep end. I did this last year when I joined the forum and I have not looked back. I even sent a proof 1/4oz Eagle before receiving payment. The buyer was a respected forum member, but still...it was a scary experience. I am not suggesting that you do this, but it could be an option if you want to establish a selling platform and feel confident enough to do so. 

Since then, I have bought and sold a lot and a fair amount on this forum and all my transactions have been absolutely fine and a lot cleaner and cheaper than Ebay etc.

Your pool of buyers will be smaller to begin with, but as you sell, the feedback will build and the more cautious/sensible (!) forum members will then likely be happy to buy from you.

Follow Chris's advice on photos and username etc. and that will go some way to satisfying concerns. Good luck.

 

Andrew. 

 

[ChrisSilver]

3 hours ago, Beano said:

Would you recommend PayPal F&F over bank transfer then?

From the buyers perspective it offers some protection. Usually the seller would charge more ~3% more if the buyer wanted to pay buy a Goods and Service payment, to cover the fees.

Whenever I purchase on TSF I use bank transfer. Buying from established members with trading history, I personally believe the chances for something to go wrong are quite slim. However this is just my personal view, it is down to each member trading to accept any risks associated with trading and do do their due diligence. Your account has been established for over 2 years, which is good.