Sparkle City Action 1 on ebay!!!! 0

[zen514]

47 minutes ago, LDarkseid1 said:

I’m going to keep you in mind sir. I very much hope to have the cash needed someday soon for that. But if you ever come across a coverless copy missing one wrap or more please keep me in mind! That would be up my alley now.

[zen514]

1 hour ago, James J Johnson said:

I agree. But $150K purchase? On ebay? Getting that $150K bid is going to be a lot simpler than actually getting paid the $150K! Ebay and Paypal would be among the last entities I would entrust this sale to: Why?

The buyer is always right. But what if something goes wrong. With the delivery, with a return, with anything. A chargeback, a paypal claim for item not described or received?

In my opinion, this seller's greed, his cracking it out and going the ebay raw route has opened him up to risks that he wouldn't have had if he left it slabbed and sold it through Heritage, Connect, Link, etc., as a slabbed book.and let them handle the responsibility of buyer fraud on an item like this.  

 

I agree. Also Non paying bidders etc.... Auction houses can cancel bids from people who have no prior large dealings or cant verify fund. This ebay auction anyone can bid. Thrill bidders paradise!!

Edited June 16, 2018 by zen514

[James J Johnson]

50 minutes ago, zen514 said:

I agree. Also Non paying bidders etc.... Auction houses can cancel bids from people who have no prior large dealings or cant verify fund. This ebay auction anyone can bid. Thrill bidders paradise!!

Not getting paid is the least of their worries. Unless they know the winner, and have a solid track record of successful sales to him under their belt, the real worrying starts the minute they send it! From that point on, their fate is all in the buyer's hands. Claim, dispute, chargeback, at any time up to 6 months when paying with paypal. Too expensive an item to take a paypal as payment risk with. I hope this works out for them, I really do. I always for positive outcomes for folks. But all I can say is it sure wouldn't be me taking a risk like this. Slabbed 0.5, on Link, Heritage, Connect, etc. = bird in the hand. Whether they get skunked by a chargeback 5 months and 29 days from the time of payment, I'd be unaffected. This is the risk that auction houses take. Once they pay their consigner, they're no longer his agent. They own whatever happens next with any future problem stemming from the sale. The auction houses well deserve their % for that risk.

Edited June 16, 2018 by James J Johnson

[zen514]

58 minutes ago, James J Johnson said:

Not getting paid is the least of their worries. Unless they know the winner, and have a solid track record of successful sales to him under their belt, the real worrying starts the minute they send it! From that point on, their fate is all in the buyer's hands. Claim, dispute, chargeback, at any time up to 6 months when paying with paypal. Too expensive an item to take a paypal as payment risk with.

Agreed but also restarting an auction impacts the price the second time around. Yes!! A chargeback would be horrible!!!

Edited June 17, 2018 by zen514

[James J Johnson]

2 minutes ago, zen514 said:

Agreed but also restarting an auction impacts the price the swcind time around. Yes!! A chargeback would be horrible!!!

Oh yeah. A do over is usually a signal to most bidders that the seller accidentally won the auction with a shill bid! Sometimes the kiss of death to a future outcome.

[AnkurJ]

2 hours ago, LDarkseid1 said:

Other big books considerably more expensive have sold through eBay. And how do you know this was graded already?

I was wondering the same.

[Qua-Brot]

4 hours ago, James J Johnson said:

Not getting paid is the least of their worries. Unless they know the winner, and have a solid track record of successful sales to him under their belt, the real worrying starts the minute they send it! From that point on, their fate is all in the buyer's hands. Claim, dispute, chargeback, at any time up to 6 months when paying with paypal. Too expensive an item to take a paypal as payment risk with. I hope this works out for them, I really do. I always for positive outcomes for folks. But all I can say is it sure wouldn't be me taking a risk like this. Slabbed 0.5, on Link, Heritage, Connect, etc. = bird in the hand. Whether they get skunked by a chargeback 5 months and 29 days from the time of payment, I'd be unaffected. This is the risk that auction houses take. Once they pay their consigner, they're no longer his agent. They own whatever happens next with any future problem stemming from the sale. The auction houses well deserve their % for that risk.

I agree they are crazy for using PayPal and trusting that the eBay platform is robust enough to handle this transaction - but then again how did eBay handle the Action 1 9.0 they sold a while back? I know Comicconnect bought it, so there wasn't any issue of returns, shill bidding, etc. but did they put any protections in place for that transaction?  

[James J Johnson]

3 hours ago, Qua-Brot said:

I agree they are crazy for using PayPal and trusting that the eBay platform is robust enough to handle this transaction - but then again how did eBay handle the Action 1 9.0 they sold a while back? I know Comicconnect bought it, so there wasn't any issue of returns, shill bidding, etc. but did they put any protections in place for that transaction?  

In that case, Comicconnect the buyer, buyer chicanery was not even a remote issue. It's when the buyer is not a known, well-established, responsible entity with a solid track record that can be trusted that should give any seller pause. Used to be, that before a bidder could play in the $15,000 and up league, most auction houses would require credentials that they could check before accepting bids of that threshold amount if they didn't already know the bidder.

And while in order to bid $10,000 or more on an ebay item, you had to have met a certain criteria with paypal, that wouldn't pose any impediment to some wrangler with great financial records that could perpetrate mail, cc, or paypal fraud upon a seller. Once a buyer starts a return, or a chargeback through his cc company for any reason, the funds are held in limbo until resolved.

Unless you pre-screen buyers, only allowing bidders who meet certain qualifications, for example, being known, reliable entities, this is risky dangling an Action 1 out there on ebay and hoping that someone legit, like Conect is the winner. And if not?...... And if the buyer is a 1 feedback ebay member whose only purchase was a coloring book?.......  Ricky business a blind pass and hoping it falls into the right hands at the buzzer.

[G.A.tor]

1 hour ago, James J Johnson said:

In that case, Comicconnect the buyer, buyer chicanery was not even a remote issue. It's when the buyer is not a known, well-established, responsible entity with a solid track record that can be trusted that should give any seller pause. Used to be, that before a bidder could play in the $15,000 and up league, most auction houses would require credentials that they could check before accepting bids of that threshold amount if they didn't already know the bidder.

And while in order to bid $10,000 or more on an ebay item, you had to have met a certain criteria with paypal, that wouldn't pose any impediment to some wrangler with great financial records that could perpetrate mail, cc, or paypal fraud upon a seller. Once a buyer starts a return, or a chargeback through his cc company for any reason, the funds are held in limbo until resolved.

Unless you pre-screen buyers, only allowing bidders who meet certain qualifications, for example, being known, reliable entities, this is risky dangling an Action 1 out there on ebay and hoping that someone legit, like Conect is the winner. And if not?...... And if the buyer is a 1 feedback ebay member whose only purchase was a coloring book?.......  Ricky business a blind pass and hoping it falls into the right hands at the buzzer.

 Correct me if I’m wrong, but can you even use PayPal for a 6 figure payment? I don’t think so (though I’m not sure)

payment would more than likely be done via wire or certified funds, which all

but eliminates any chargeback concerns ?

Edited June 17, 2018 by G.A.tor

[comicdonna]

55 minutes ago, G.A.tor said:

 Correct me if I’m wrong, but can you even use PayPal for a 6 figure payment? I don’t think so (though I’m not sure)

payment would more than likely be done via wire or certified funds, which all

but eliminates any chargeback concerns ?

I sold 30K worth of books to someone.  They could only send 10K at a time.  When Paypal saw the 3 payments, they limited my account.  Even after speaking to the buyer and myself on the phone, I still had to prove I owned the books.  

[James J Johnson]

11 hours ago, G.A.tor said:

 Correct me if I’m wrong, but can you even use PayPal for a 6 figure payment? I don’t think so (though I’m not sure)

payment would more than likely be done via wire or certified funds, which all

but eliminates any chargeback concerns ?

He's got "paypal" as a mode of payment right on the listing, along with credit card, etc.  And not only can payment through paypal be a later issue, but certainly payment through a credit card can be as well. The chargeback comes through the credit card company, whether the cc funded the sale directly or with paypal as the middle man.

[James J Johnson]

11 hours ago, G.A.tor said:

 Correct me if I’m wrong, but can you even use PayPal for a 6 figure payment? I don’t think so (though I’m not sure)

payment would more than likely be done via wire or certified funds, which all

but eliminates any chargeback concerns ?

I just checked. You can send up to $60,000 for a paypal transaction, if your account limits allow it. Now since in this case, the seller accepts paypal, the badge included in the listing, let's assume that the buyer can be invoices through paypal, for multiple money requests. For $150K over three invoices/requests, $50K, $50K, $50K. I would assume that is possible. It might cause a red flag, setting off PayPal's alarms, triggering a temporary freeze on one or both accounts, the buyer's and/or the seller's, but if the limit for one transaction is $60K and the seller accepts paypal as payment, as the listing states, then the invoice/request system, bypassing the ebay invoice, is,I would imagine, do-able.

[Qua-Brot]

5 hours ago, James J Johnson said:

He's got "paypal" as a mode of payment right on the listing, along with credit card, etc.  And not only can payment through paypal be a later issue, but certainly payment through a credit card can be as well. The chargeback comes through the credit card company, whether the cc funded the sale directly or with paypal as the middle man.

He also has $30 books for sale - so he may just have a template for all of his listings (though why he wouldn't pay a little more attention to details like that???). 

If one of you buys the book, it would be interesting to hear how the payment is arranged, if you are willing to divulge (small, unmarked, non-sequential bills?)

[N e r V]

They have this as their terms which could be used against someone not willing to follow their stated terms with a cc transaction. 

 

 

*WE DO NOT GUARANTEE ANY 3rd party grades and WE DO NOT accept returns for when a 3rd party (CGC/CBCS/etc) grades a book differently from what we do. EVERY BIDDER CAN RETURN THEIR PURCHASE, AT THEIR EXPENSE, FOR ANY REASON WITHIN OUR 14 DAY RETURN PERIOD. Please do not contact us after those 14 days with a request to return, it will most likely be denied. If we do make an exception, a 15% restocking fee will be applied, buyer must pay for return shipping and refund may be in the form of credit or deferred until the items are re-sold.***

 

[N e r V]

I do know from past experiences (with much smaller amounts) that a cc company will deny removing a charge when the buyer is not honoring the terms of the deal (company policies) when the seller has provided proof of terms and buyers refusal to honor them (as long as stated terms were legal in the first place). 

 

[James J Johnson]

12 hours ago, N e r V said:

They have this as their terms which could be used against someone not willing to follow their stated terms with a cc transaction. 

 

 

*WE DO NOT GUARANTEE ANY 3rd party grades and WE DO NOT accept returns for when a 3rd party (CGC/CBCS/etc) grades a book differently from what we do. EVERY BIDDER CAN RETURN THEIR PURCHASE, AT THEIR EXPENSE, FOR ANY REASON WITHIN OUR 14 DAY RETURN PERIOD. Please do not contact us after those 14 days with a request to return, it will most likely be denied. If we do make an exception, a 15% restocking fee will be applied, buyer must pay for return shipping and refund may be in the form of credit or deferred until the items are re-sold.***

 

So, what this really translates out to is that when the buyer submits this to the CGC, and it bounds back to him or her in a 0.5 purple labeled holder from whence it came, slabbed with the words, "extensive restoration" and "Incomplete" included on the label, plus far more disclosed work than the seller is disclosin mentionedg, relegating the book's resale value to approx. the 25 to 40% range of the winning bid price, "don't look to remedy the deception, because you'll find us unmoved by your grievous error in winning it, and by the way, the short pier is that'a'way, if you'd like a nice place to take that long walk, you're welcome!".

Is that about the gist of it?

The dollar amount is much too high for this type of non-disclosure to stand up as a mitigating factor with the cc company. Anyone who has a CC with at least 6 figure thresholds has standing with their cc company and the chargeback will be effected pending a return without an insane re-stocking fee, of course, $25,000 to place the book back in a box just plain usurious to demand.

Edited June 18, 2018 by James J Johnson

[Larryw7]

12 hours ago, N e r V said:

They have this as their terms which could be used against someone not willing to follow their stated terms with a cc transaction. 

 

 

*WE DO NOT GUARANTEE ANY 3rd party grades and WE DO NOT accept returns for when a 3rd party (CGC/CBCS/etc) grades a book differently from what we do. EVERY BIDDER CAN RETURN THEIR PURCHASE, AT THEIR EXPENSE, FOR ANY REASON WITHIN OUR 14 DAY RETURN PERIOD. Please do not contact us after those 14 days with a request to return, it will most likely be denied. If we do make an exception, a 15% restocking fee will be applied, buyer must pay for return shipping and refund may be in the form of credit or deferred until the items are re-sold.***

 

15% restocking fee? Cal must be on their board of advisors.

[N e r V]

I was only commenting on cc companies when a buyer tried to stop a charge. If the seller had clearly stated his terms, there was nothing illegal about his terms and he did not misrepresent what he was selling the cc company will likely side with the seller. The cc companies use themselves to mediate the problem but although most of the “issues” are indeed with the sellers it does not lead to an automatic “the buyer is always right”. You just need to plead your side to them. The first question you’re going to get from them is did you read the terms (if not, why?) and what do you feel they did that wasn’t covered in those terms?

There’s a lot of crummy return policies out there that are legal.

[N e r V]

10 minutes ago, Larryw7 said:

15% restocking fee? Cal must be on their board of advisors.

That’s actually pretty common in some sectors of retail. I’ve seen that with some of my gf’s  custom clothing, etc. on their return policy. It’s usually put into place to discourage  the “chronic” returners who like to sample things in life for free. 

You want to take things out for a spin you’re going to pay for it, buddy....

[James J Johnson]

2 hours ago, N e r V said:

I was only commenting on cc companies when a buyer tried to stop a charge. If the seller had clearly stated his terms, there was nothing illegal about his terms and he did not misrepresent what he was selling the cc company will likely side with the seller. The cc companies use themselves to mediate the problem but although most of the “issues” are indeed with the sellers it does not lead to an automatic “the buyer is always right”. You just need to plead your side to them. The first question you’re going to get from them is did you read the terms (if not, why?) and what do you feel they did that wasn’t covered in those terms?

There’s a lot of crummy return policies out there that are legal.

They think they crafted the words of the terms to properly insure a bulletproof sale, but once the buyer seeks the light and finds it, for all their linguistic crafting, this ad hoc "as is" seller condition is not going to stand up to a cc chargeback for undisclosed data that should be imperative to Sparkle conveying exactly what they are selling. It's a pig in the poke and whatever language they craft isn't going to turn a sow's ear into a silk purse once the dawn of realization comes and the cc company initiates the chargeback. There are elements integral to the buyer fully understanding what it is they are buying, and these omissions, no matter how skillfully they're sidestepped, will bolster initiating and winning a chargeback request.

Edited June 18, 2018 by James J Johnson