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Thread: Ebay/Paypal Hold Policy

  1. #1
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    Default Ebay/Paypal Hold Policy

    Just a FYI - I tried to sell an item on ebay last week - I probably list 2 to 3 items yearly including mandolin related stuff - to make a long story short, paypal placed a 21 day hold on the funds that the winning buyer transferred to me - I called paypal and this is a new policy for sellers that don't list things that often - I am not sure if this policy would include any items, but I personally don't feel comfortable selling items without first getting legal tender - I think this would be especially problematic with a more expensive mandolin - especially since it would be the seller's responsibility to come up with shipping and insurance out of pocket before payment - I would recommend looking into the specifics of this before listing a mandolin on ebay in the future - I'm not sure if this post is within the guidelines of the cafe and I understand if it needs to be removed - thanks,

    Steven

  2. #2
    Registered User Mark Seale's Avatar
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    Default Re: Ebay/Paypal Hold Policy

    The funds get released sooner if the buyer leaves positive feedback or delivery has been confirmed.

  3. #3
    Registered User ApK's Avatar
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    Default Re: Ebay/Paypal Hold Policy

    Yes, there are a few conditions that need to be hit for them hold funds, among them, only sellers with a feedback score of less than 100 are subject to holds, so it hasn't affected me, but it does bug me a little. I realize that it's ostensibly to protect buyers from fly by night sellers, but I know it ultimately has to do with what makes the most money for the company.
    Still, since I've never had a negative experience with Paypal, and it has been the easiest possible way for me to buy and sell on ebay, I'm willing to give them the benefit of the doubt.

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    Default Re: Ebay/Paypal Hold Policy

    I agree - just one more way for corporations to make a buck - also, I did understand that there was a 3 day release after delivery was confirmed - I guess I just fundamentally feel that it is a flawed policy - my reason for mentioning it here was I didn't even find out about it until the funds hit my paypal account with a "hold" on them - I called paypal and they said it was an ebay policy - I do understand why they think they need to do this, but I will deal with the lesser issues of craigslist in the future and of course, the cafe, for anything mando related.

    BTW - I will be keeping my paypal account as well - I have never had any problems with them. And the lady I spoke with at ebay was very nice and understood my position - she actually said they have been getting a lot of calls on the new policy. It did feel strange canceling my ebay account of 9 years even though I only logged 36 transactions in that period.

  5. #5
    Registered User jim simpson's Avatar
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    Default Re: Ebay/Paypal Hold Policy

    I have not sold on Ebay only bought so far. I had a friend list and sell an expensive hi fi component for me earlier this year. The buyer evidently registered and signed up for paypal the same day as he saw and wanted my item. I and the seller were a little nervous about it but it went through fine. I think the few day issue was in place for my sale. I was happy that it sold 30 minutes after listing it with a buy it now.
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    Registered User Jordan Ramsey's Avatar
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    Default Re: Ebay/Paypal Hold Policy

    Speaking from recent experience, make sure you ship UPS or USPS, otherwise you cannot confirm delivery through ebay/paypal. I'm sitting on a small fortune (for me) that I really need right now for the holidays, that cannot be accessed for another two weeks (21 day wait) because I used FedEx and cannot confirm delivery, even though the package was delivered today. The recipient must be on holiday and cannot be reached (will not respond) to provide positive feedback so that the money will transfer, even though I have tracked confirmation of the delivery. It's a real croc if you ask me.
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    Default Re: Ebay/Paypal Hold Policy

    Well from a buyers perspective I would much rather have a mandolin seller list his item in the classified section here on the Cafe first. If it does not sell then go the Ebay route where I guess the attcation is that you are guaranteed a sale.
    My wife, who plays Irish flute and whistle has lately come down with a case of WAS (Whistle Acquisition Syndrome), got me started on Ebay. So last week I sat on my high bid just to lose my item a four seconds from auction end time, wow. Then I learned about sniper services and how this is done. I decided to watch a few other autions and saw one winning bid at five seconds out and last night I experienced a winning bid at 59:59, one second out. So what sort of chance do I have just throwing a fair price in there, not very good. Seems like the only way to win anything is bid high, probabaly too high, which I guess is a good for Ebay, or get a sniper. So with multiple snipers how is that going to work? I would much rather give someone in this community a fair price for thier item and not use Ebay at all, but only Ebay has what I am looking for.
    Bill

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    Registered User ApK's Avatar
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    Default Re: Ebay/Paypal Hold Policy

    Quote Originally Posted by Bill Van Liere View Post
    So what sort of chance do I have just throwing a fair price in there, not very good. Seems like the only way to win anything is bid high, probabaly too high, which I guess is a good for Ebay, or get a sniper. So with multiple snipers how is that going to work?
    If you had put your max bid in, the only way you can be beat is if someone bids more than you, period. Sniping is irrelevant if you had done what eBay recommends and put your true max in as regular proxy bid rather than "sitting on it."

    I lose as many snipes as I win. If I snipe, I MUST enter my true maximum bid, because I don't have time to reconsider. If someone bid more than me, it doesn't matter if it's in the same nanosecond or two weeks earlier, I lose.
    In fact, if someone bid the same as me (it's happened) the earlier bid wins, and the snipe loses.

    What sniping does is protects against impulsive bidders who keep upping their max a little a time over and over, often above what they really wanted to pay and often to more than the item is worth just so they can feel the rush of winning.

    The idea is to pay only what you have to, not to encourage people to keep trying to out bid you.

    A snipe bid says "if you are willing to pay more for this item than I am, it's yours. But if you are just trying to outbid ME, I'm not going to give you time to play that."

    Some people seem to think a snipe bid means "Whatever that last guy bid, bid me one higher!"
    That is NOT how it works. The sniper never knows what the real max bid is any more than anyone else does. In fact, with automated services, the sniper usually put his bid in long before the last few seconds of the auction.
    Multiple snipes? Again, the highest bid wins. In the event of a tie, the EARLIER bid wins. Period.

    ApK

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    Default Re: Ebay/Paypal Hold Policy

    Good info Apk.

    Yes, I was "sitting" on a proxy bid. Help me out here. I assume the sniper program lobs in a high or very high price in the last second to take the item at an increment above the highest bid. So it seems more of an timing thing than a price thing to me, but I see I am just learning.

    Thanks
    Bill

  10. #10
    Registered User ApK's Avatar
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    Default Re: Ebay/Paypal Hold Policy

    Quote Originally Posted by Bill Van Liere View Post
    Good info Apk.

    Yes, I was "sitting" on a proxy bid. Help me out here. I assume the sniper program lobs in a high or very high price in the last second to take the item at an increment above the highest bid. So it seems more of an timing thing than a price thing to me, but I see I am just learning.

    Thanks
    A lot of people misunderstand sniping. I think people confuse the dynamics of eBay with that of a live auction, as if some one was waiting you out and slipping a secret bid in right before the gavel.*

    The ONLY thing the timing aspect has to do with anything is it does not reveal to other bidders what YOU think the item is worth TO YOU any earlier that necessary.

    No matter when you bid the winner ALWAYS wins by only one increment over the next highest bid. ALWAYS. That's how eBay's proxy bid system works. I hear people, even my wife, who knows better, all the time complain "Darn! I lost it by 50 cents! If I had had only bid 1 dollar higher....!"
    No! NO NO! All it means is that there was one higher bidder. You have NO way of knowing if that bidder put in a bid 50 cents higher than you or a thousand dollars higher then you. Never. Only if MORE that one person bid higher than you can you possibly lose by more than one increment. A bidder simply CANNOT know what the max bid is, until he bids.

    What some people do is they try to up their bid one increment at a time, seeing if they now have the max, as if they were at a live auction, yelling out one bid at a time against the person in the next row.

    A sniper doesn't want to encourage a bidding war. If someone held back the amount the amount they were really willing to pay, expecting that they'll have time to keep upping the bid by one increment, that's their problem.
    If they want to keep upping their max above what they think the item is worth to them, because they feel they have to outbid someone, then that's their problem, too.
    A sniper puts in the max he's willing to pay. Hopefully, as always, we hope we'll get it for less. But if anyone, at any time, put in a bid that's more than my snipe bid. I lose. I don't have time to re think my max at the last second and impulsively spend more money. And if I win, great. And the seller get's one more bid above the very highest that was bid previously.

    ApK

    *At a live auction that wouldn't work, because the auctioneer would always give a few more seconds after the last bid. People think it would work on eBay because the eBay clock stops on time, and it feels like a race. But it doesn't work, because of the proxy system. Highest bid wins no matter when it was placed.

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    Default Re: Ebay/Paypal Hold Policy

    Ok, that does help ApK, I had become discouraged watching these last second sales this past week. The way I undestand this is to put in my high price as a proxy, I guess at any time, and live with it. Highest bidder wins.

    Thanks for your time.

    BVL
    Bill

  12. #12
    Registered User ApK's Avatar
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    Default Re: Ebay/Paypal Hold Policy

    Quote Originally Posted by Bill Van Liere View Post
    . The way I undestand this is to put in my high price as a proxy, I guess at any time, and live with it.
    Or use a sniping program!

  13. #13
    Jason Wicklund DryBones's Avatar
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    Default Re: Ebay/Paypal Hold Policy

    just figure what you would spend on the item, set your high bid and walk away. If you win, you win.
    Jason

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  14. #14

    Default Re: Ebay/Paypal Hold Policy

    Another part of what makes sniping frustrating is that it's hard to know exactly what you're willing to pay for something like a mandolin. Especially if it's a rare/unique/vintage item that doesn't have a MSRP associated with it. And when it comes to money, most of us think in round numbers, so I might think "I'm willing to pay $500 but not $525" when really if presented with the option of $508.62, I'd go for it. I guess my point is that when cooking up your max bid, add on 5-10% just to save yourself some regret if you lose. It makes ebay a lot less agonizing.

    I think it should also be pointed out that one does not need a sniper service or program to snipe an auction. Most people do it the old fashioned way: a clock with a second hand and patience.

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