What would you do?

Well guess I learned something in case I ever sell. Thanks!

 

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What stinks is that Mike is such a great guy too, I mean I have taken advantage of his pay as you go system at least twice, and one was my first ever dealing with him, and also the coin I attribute to really pulling me into numismatics and away from bullion type coins.

The second was fairly recent, or at least within 12 months.

I would just hate to see a bad apple spoil such a good thing for other folks. Its really nice to be able to work with an honest dealer and have a little time to spread out larger purchases.

Good luck Mike and I hope things work out for you

 

I wouldn't even want to take partial payments this time of year. I'm afraid it would be to much of a headache. Especially since coins of most nature are extremely liquid and easy to move.

 

Long shot but maybe the guy's PayPal was hacked?

 

Hmmm.. have you ever had oh, I don't know... a job maybe, or any other respibility that impeded your drop-of-a-hat availability? Do you check your email every two hours, 24/7?

A deadline is certainly reasonable, but one lasting only two hours is wholly ridiculous. If this was another done-me-wrong ebay thread, with a member buyer crying over such a deadline given by their seller, everyone would be piling on with calls for negative feeback, reporting to ebay, or even a fool or two suggesting buyer protection fraud, yet when suggested for a seller member to do to their buyer, crickets....

 

Mind, this does not necessarily guarantee a higher ultimate selling price. What it does is attract those buyers turned off by a near-value opening price. They're a known demographic of pretty good size (in fact, I'm one of them), confirmed both by Ebay and the experience of reliable sellers. Unfortunately, many are equally turned off by Reserve prices. So if you just do a 0.99 start and let it rip, you'll appeal to a noticeably broader audience but you'll still get burned every once in a while. Less so if your auctions and images are good, and if you've built a following.

What you do with getting burned varies. Not everybody understands that the cost of doing business does in fact sometimes require the use of "cost."

 

What happens when he makes the down payment then two months later doesn't pay the balance? Did you discuss what happens to the down payment? The next time somebody wants you to hold a coin, sell him an option.

 

I voted for prompting the buyer for payment prior to the eBay auction ending.

I think you need to give the buyer the benefit of the doubt. If he does end up winning the eBay coin and backs out on your deal, IMO, you should refuse to ever sell to him again. But until that time, you need to act as if the original deal you made is still in place.

 

Give him terms of the sale, I do not know the value of the coin, but I would suppose it is a four figure coin, perhaps one third down with the other two thirds due within 90 days, or the deposit is forefeited.

 

Thanks!

 

A contract generally hasn't been established until there's Quid Pro Quo, an exchange for consideration. If the promised payment hasn't been received, you aren't obligated as promised. I'd proceed with the listing as if there hadn't been an exchange of words/consideration.

JMHO

 

I've the impression of a buyer who got wanderlust, and then chose to come back. You should be fine from here.

 

Just a couple of thoughts:
1. I would remind him of time limit; due date(s).
2. Penalty for missing number one.
3. "Hopefully" won't make it for me, he pays on time period.
4. It would be our final transaction--Unless there is a documented emergency.

And I speak from experience which cost me LOTS of $$$.