Selling stuff/Receiving Payment

[Dogtrousers]

I've got some bike stuff I want to sell. (Frame, wheels and stuff) Depending on how much of it I sell and what price I get it could be as much as £400 worth. Probs a bit less, but let's stick with £400

I'd like to do it the easiest way possible. ebay would probably be a last resort because I suspect it would be most hassle. Selling on here would probably be easiest.

So what would be the easiest way to receive payment? I don't have a paypal a/c and know nothing about paypal. If I set one up, and someone paid into it, how would I get the money out? Or would it just be in the form or paypal buttons, transferrable to other paypal a/cs.

 

[bruce1530]

Easiest way, and least cost, is asking the buyer to o a direct bank transfer. It does mean giving the buyer your account details.

Most buyers won’t like it, because there is no real payment protection.

Paypal account isn’t as bad as it’s made out to be by some. Once money is in it, you can transfer it directly to your bank account, or use it to purchase from sellers which accept Paypal. They do charge a commission for payments.

 

[biggs682]

@Dogtrousers to open a paypal account you have to link a bank account and from memory you just transfer back from paypal to normal bank , cant remember if there any charges or limits .

Or do what we do and leave it in paypal account and then pay via paypal as loads of sites take paypal these days .

Other forms of payment are bank transfers which is easy and safe enough

But cash is best if local buyer

So what are you selling ?

 

[vickster]

You can transfer PayPal funds to your bank account once set up

As the seller you’ll have to pay PayPal fees about 4% or get the buyer to agree to cover. Or there’s friends and family but that offers no protection to the buyer

Or just use a BACS transfer but that again offers the buyer no protection

I used a credit card via PayPal for my Ti purchase and added the fees to the cost. Not because I didn’t trust the seller but more the courier not to lose or damage (which was unfounded). Using an interest free CC means I don’t have to pay immediately either

 

[vickster]

I think we’ve all said basically the same!

I don’t have an issue with giving my bank details as people can only pay in and not out with the info (is on the bottom of every cheque and we are happy to ok now occasionally write those!)

 

[accountantpete]

It's easy.

Set up a paypal account giving them your bank details. Your "address" is your email address.

Sell on here either taking a 5% charge on monies coming in or specifying "paypal gift" on the transaction ((no fees payable). The buyer gets your paypal address and transfers the money.

 

[Dogtrousers]

Thanks all. So it sounds like, for convenience of the buyer I may want to set up a Paypal a/c. But first see if buyer wants to direct transfer funds to my bank. I can move funds out of PP to my current a/c after the sale but with a transaction fee. I'd probably close it after as I won't need it subsequently.

Any comments on sites like ebay or gumtree?

So what are you selling ?

A Mercian frame, a Spa built Shimano dynamo front wheel and a B&M lighting rig (front & rear)

 

[biggs682]

A Mercian frame, a Spa built Shimano dynamo front wheel and a B&M lighting rig (front & rear)

is that the nice blue one ?

Gumtree works but has a much smaller customer base over e bay

 

[Heltor Chasca]

To be the devil’s advocate I prefer EBay for selling stuff. Protection for sellers and buyers and in my experience I’ve managed to get pretty good prices for bike stuff. Be reasonable, fair and put some effort into the photos and description. Links always help. And keep on top of your communication. We live in an instantly gratuitous world so if someone someone wants your stuff, strike while the iron is hot or lose the sale.

The only issues I have had buying and selling have been on another bike forum I sit on.

RE: PayPal: I use it all the time for buying stuff online. They are much better at buyer protection disputes than Barclays are.

 

[biggs682]

Yup the blue frame that has been sitting in my office for a couple of years as an unusual kind of ornament thing. Plus brand new surplus to requirements dynamo stuff.

just been trying to find the pics of the Mercian you sent me ages ago but the link doesn't work , could you please re send it to me

 

[TheDoctor]

Whenever I've bought from someone on here I've either posted a cheque (for a groupset IIRC) or met up with the vendor and paid cash - a 'bent from @mrandmrspoves, that was.
Selling, I've either had a bank transfer or cash. Most CC members are trustworthy - I only remember one troublesome ex-member who would take free things and then sell them on Ebay - I think I've got that right.. They're not around any more.

 

[Dogtrousers]

just been trying to find the pics of the Mercian you sent me ages ago but the link doesn't work , could you please re send it to me

https://www.cyclechat.net/media/albums/mercian.814/

 

[Tim Hall]

<little moment>
By heck, that's gorgeous.

 

[mjr]

Easiest way, and least cost, is asking the buyer to o a direct bank transfer. It does mean giving the buyer your account details.

Most buyers won’t like it, because there is no real payment protection.

Paypal account isn’t as bad as it’s made out to be by some. Once money is in it, you can transfer it directly to your bank account, or use it to purchase from sellers which accept Paypal. They do charge a commission for payments.

PayM is a way of triggering bank transfers without handing over account numbers. Instead it uses your mobile phone number.

PayPal is OK but the fees are high and they randomly freeze accounts for arbitrary lengths of time.

 

[mrandmrspoves]

I used to sell exclusively via eBay but due to their fees and commission charges (and then the PayPal charges too) I have tried other methods. A car sold on Gum tree for the full asking price within 2 hours of listing and inexpensive items sell well on local Facebook selling pages.
The advantages of both Gum tree and FB is it is free and buyers pay cash on collection for items sold as seen. One thing I would advise if going down this route is to specify that the first person to arrive with the cash secures the sale. Otherwise there is normally an expectation that you will hold the item for the first person that expresses an interest (and they may well never show up)
If you are not in a hurry to sell an item, it is always worth trying these local free methods and then using eBay if the item remains unsold.
If selling on eBay and the person comes to collect the item don't accept PayPal as payment unless you get the person to log into their account and leave positive feedback for the item there and then - otherwise there is a scam where the person shows up, pays via PayPal and takes the item away and then contacts PayPal to say they have not received the item, at which point PayPal can withdraw the payment from your account.