Large Dollar overseas transaction advice

rj.cataldo · 05-15-2021, 08:35 PM

I’m hoping to get some advice from some that may have experience in large dollar international transactions. I have a potential buyer who reached out to me on Instagram and gave a pretty good offer on one of my items. The buyer is based in China which gives me pause.

After speaking to PayPal they confirmed that their seller protection extends to buyers in China, but needless to say if the buyer claims I sent bad goods I’m not sure methods such as affidavits / police reports will really matter.

Even if PayPal protection works the buyer could contest through their bank and PayPal said while they will “work on my behalf” ultimately if the bank sides with buyer then your out of luck.

So my question is, how have other handled large dollars transactions (this is potentially $25k plus). Are there any sorts of escrow services that can be used? Any advice would be greatly appreciated!

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garyg21 · 05-15-2021, 08:59 PM

Western Union?

Not sure on amount restrictions, but a thought.

Good luck!

GOTcollector · 05-16-2021, 01:45 AM

Me personally? Sell for 7 thousand dollars less to a domestic customer and not have to ship to one of the sketchiest countries on the planet.

Jim65 · 05-16-2021, 05:34 AM

Instagram, China and $25K has disaster written all over it.

frenchquarter · 05-16-2021, 08:10 AM

Why take a chance?

shrevecity · 05-16-2021, 08:22 AM

Don't do it.

rj.cataldo · 05-16-2021, 08:44 AM

Thanks everyone. Curious if anyone has experience with these transactions? There are plenty of high-end reputable buyers in China for basketball so it’s not as though this is unprecedented. To be clear, the risk of cancellation through the bank exists domestically as well, but obviously a bit less transparency with a foreign bank.

I’m leaning toward no, but I’m a bit hesitant to let fear stand in the way of a potential transaction.

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NatsSBR · 05-16-2021, 10:17 AM

Any chance you can find an escrow service to protect you both? You'd have to pay them a cut, but for a $25K transaction...

rj.cataldo · 05-16-2021, 10:29 AM

Quote:

Originally Posted by NatsSBR

Any chance you can find an escrow service to protect you both? You'd have to pay them a cut, but for a $25K transaction...

That was my potential line of thinking as well, but the escrow services I found still require the seller to ship direct to the buyer. Not sure if the buyer could pull a quick swap and return in that approach. Have to look into it further.

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05-15-2021, 08:35 PM	#1
rj.cataldo Member Join Date: Jan 2013 Location: Chicago Posts: 2,137 fattyc02	Large Dollar overseas transaction advice I’m hoping to get some advice from some that may have experience in large dollar international transactions. I have a potential buyer who reached out to me on Instagram and gave a pretty good offer on one of my items. The buyer is based in China which gives me pause. After speaking to PayPal they confirmed that their seller protection extends to buyers in China, but needless to say if the buyer claims I sent bad goods I’m not sure methods such as affidavits / police reports will really matter. Even if PayPal protection works the buyer could contest through their bank and PayPal said while they will “work on my behalf” ultimately if the bank sides with buyer then your out of luck. So my question is, how have other handled large dollars transactions (this is potentially $25k plus). Are there any sorts of escrow services that can be used? Any advice would be greatly appreciated! Sent from my iPhone using Tapatalk __________________ Instagram: @johnnykilroycards

05-16-2021, 01:45 AM	#3
GOTcollector Member Join Date: Feb 2020 Location: Canada Posts: 419	Me personally? Sell for 7 thousand dollars less to a domestic customer and not have to ship to one of the sketchiest countries on the planet. __________________ Collecting anything GOT

05-16-2021, 08:10 AM	#5
frenchquarter Member Join Date: Jan 2017 Posts: 745 buymycards! frenchquartercards	Don't do it Why take a chance?

05-16-2021, 08:44 AM	#7
rj.cataldo Member Join Date: Jan 2013 Location: Chicago Posts: 2,137 fattyc02	Thanks everyone. Curious if anyone has experience with these transactions? There are plenty of high-end reputable buyers in China for basketball so it’s not as though this is unprecedented. To be clear, the risk of cancellation through the bank exists domestically as well, but obviously a bit less transparency with a foreign bank. I’m leaning toward no, but I’m a bit hesitant to let fear stand in the way of a potential transaction. Sent from my iPhone using Tapatalk __________________ Instagram: @johnnykilroycards

05-15-2021, 08:59 PM	#2
garyg21 Member Join Date: Jul 2010 Posts: 1,557	Western Union? Not sure on amount restrictions, but a thought. Good luck!

05-16-2021, 05:34 AM	#4
Jim65 Member Join Date: Jan 2019 Location: New Jersey Posts: 330	Instagram, China and $25K has disaster written all over it.

05-16-2021, 08:22 AM	#6
shrevecity Member Join Date: Jul 2013 Posts: 28,051	Don't do it.

05-16-2021, 10:17 AM	#8
NatsSBR Member Join Date: Jan 2021 Posts: 382	Any chance you can find an escrow service to protect you both? You'd have to pay them a cut, but for a $25K transaction...