Auctions on eBay have become some of the most common transactions on the web. With tens of thousands of listings from both private sellers and professional storefronts, eBay auctions give savvy buyers and sellers a way to fuel their hobbies and clear unwanted clutter from garages and workshops. So, after the auction closes and you’re the proud owner of a new designer watch or classic car, what do you do?
Examine Seller Requirements
Sellers do have the option of listing all the payment methods they’re comfortable with on their listing. If they don’t happen to list a preferred method, check with the seller to see which payment methods they prefer. If the seller’s required payment method is something you’re uncomfortable with you may need to explore the option of passing on the auction win.
Keep the Lines Open
Open communication between buyers and sellers is imperative. Because eBay does not provide a seamless closing process for auctions closed on their site, platforms like PaySAFE that compile the entire communications history between both parties – including time stamps and document tracking – can help avoid confusion or missed emails between buyers and sellers. Being as clear as possible with the other party as to your expectations and requirements is a key component in negotiating the close of any online auction.
Protect Your Funds
Online escrow can be a great way to protect both buyer and seller when paying for eBay auctions. Escrow can be especially helpful if there is long distance shipping involved or the purchase doesn’t qualify for eBay’s purchase protection plan. Escrow services simply hold the buyer’s purchase funds secure until there is proof that the purchase has been shipped or has arrived for a final inspection. Sellers are also protected as all funds are verified upfront – completely removing the risk of insufficient funds, fraudulent checks or credit card chargebacks.
Regardless of the payment and closing methods that you and the other party agree to, be sure you’ve at least explored all of your options. If a seller is unwilling to answer questions or be forthcoming with information, or a buyer seems reticent or sketchy when it comes to arranging for payment it may be time to simply walk away. Your user profile may get dinged with a negative review or two, but in most cases a dinged eBay profile is much preferable to a non-existent auction item or an unexpected credit card chargeback.