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Selling jewelry or other high end items on ebay

Old 05-02-05, 10:26 AM
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Selling jewelry or other high end items on ebay

A neighbor of mine has some antique jewelry that she took to be appraised and the guy low balled her... so she wants to sell it on ebay. Since I have lots of feedback and experience, I said I would list it for her. However, I've never sold anything for more than like $300 sooo, some questions:

She's expecting at least one ring to sell for $2000. I usually accept paypal only. Should I also accept money orders since they are pretty safe? Also, I should specify only confirmed addresses right? What about charge reversals? I've seen threads about that recently, and want to make sure we don't get screwed on this.

How does insurance work? Will the USPS insure items up to $2000? I will certainly require the buyer to buy insurance and delivery confirmation with a signature... Or are there better ways to ship jewelry?

Anything else I should know about? Thanks in advance.
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Old 05-02-05, 10:55 AM
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the max USPS will insure is $2500, however I'd hate to get into a battle with them over a ring appraised and sold on ebay for 2K.

I'd have some pretty good disclaimers in your ad for sure.
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Old 05-02-05, 11:27 AM
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I wouldn't say that money orders are 100%. They are pretty easy to fake with some skill.

You can also wait 20-25 days for PayPal to CLEAR before sending the ring (you can base that on their feedback and past purchases). Might want to mention that in your auction.
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Old 05-02-05, 01:25 PM
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Originally Posted by ChiTownAbs, Inc
You can also wait 20-25 days for PayPal to CLEAR before sending the ring (you can base that on their feedback and past purchases). Might want to mention that in your auction.
That's only if they pay with a credit card, right?

And how do these people convince Paypal to reverse the charges? Luckily I've never had to deal with this before.
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Old 05-02-05, 01:33 PM
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Selling something for $2000, and the buyer pays with Paypal? Sorry, but that would just keep me awake at night. *shudder*
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Old 05-02-05, 02:13 PM
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If it were me, I don't think I'd bother with it. It's not worth the sleepless nights and hassle from peole who don't want to follow whatever rules you decide on. And anything bad that happens is on your feedback.

Anytime you are dealing with large $ purchase from people you odn't know there are chances of fraud. If you take paypal, you can lose. There are reports of people getting money back months after paying for items. If you take money orders, they can be forged as well. I've gotten legitimate cashier's checks that looked like fakes, so I don't even consider those anymore.

You can limit your chances by only accepting bids from people with a certain level and percentage of feedback (e.g., only 50 or higher with 90%+ positives) but then you can piss people off and have to police your own auction to remove bids from people with 4 feedbacks with 3 negs. You can say you only accept postal money orders - these you can get confirmed simply by bringing them to your local post office and the buyer can't take their money back (afaik) after you've gotten the money. This also annoys some people, so you get fewer/lower bids.
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Old 05-02-05, 04:04 PM
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Originally Posted by cultshock
Selling something for $2000, and the buyer pays with Paypal? Sorry, but that would just keep me awake at night. *shudder*
So you'd suggest money orders or cashiers checks only?
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Old 05-03-05, 11:12 AM
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^^ for today's crowd
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Old 05-03-05, 11:19 AM
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Originally Posted by suziq999
So you'd suggest money orders or cashiers checks only?

It'd be safer, but as datagirl7 mentions, even those could possibly be faked. But, you have to accept some kind of payment, so out of all the practical choices, those would be the best. With Paypal you would have to worry about a fraudulent chargeback, which could happen months later (not sure about the time limit). And if that happens, Paypal wouldn't be willing to eat the 2 grand, so they would be taking it back from you (and their user agreement allows them to do so).
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Old 05-03-05, 11:59 AM
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Thanks Suziq for the bump.

Personnally, I'm very worried about selling my item on Ebay... but its the only place I can get what I want for it.

I think I'll go with a Money order myself, seems like the best secure choice since they have to pay for it to get it and it's probably harder to fake... but even then, are they 100% secure.....?
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Old 05-03-05, 12:19 PM
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If you do money orders, make sure you specify which ones you'll take (check which ones can be confirmed in your area). Otherwise you'll get some from companies you never even knew existed.
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