(Topic ID: 54714)

Best way to pay a pinsider for machine?


By mcclad

6 years ago



Topic Stats

  • 63 posts
  • 40 Pinsiders participating
  • Latest reply 6 years ago by mickthepin
  • Topic is favorited by 2 Pinsiders

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    There are 63 posts in this topic. You are on page 1 of 2.
    #1 6 years ago

    I am interested in buying a machine that I saw in the Marketplace that another pinsider is selling. The machine is on the west coast and I am on the east. What would be the best and safest way to pay for the machine?

    #2 6 years ago

    I use paypal and "gift" the money to them. If you gift, you pay no fees. The only issue is you are essentially sending an electronic check which takes a few days to clear.

    #3 6 years ago

    I only except Gold Pressed Latinum for payment.

    image.jpg

    #4 6 years ago

    When I'm on the buying end, I usually try and accommodate the seller. Last transaction I cut a cashiers check and directly deposited it into the sellers account. No wiring fees, safe, and was possible because the seller used the same bank and gave me his routing/account information. I usually cut a cashiers check and overnight it.

    #5 6 years ago

    Check works too, just wait for it to clear

    #6 6 years ago

    Simple.

    11786956-money-mail.jpg

    #7 6 years ago

    What about a postal money order? That should be easy enough for a seller to cash.

    Quoted from thedarkknight77:I use paypal and "gift" the money to them. If you gift, you pay no fees. The only issue is you are essentially sending an electronic check which takes a few days to clear.

    If I gift the payment, would I still be covered under paypal's buyer protection? What if the seller does not ship the machine? I have never bought before on this forum so I am just trying to make sure that I don't get shafted. Not that I suspect that the seller would do that, but almost 2k is a lot of money to lose.

    #8 6 years ago

    Cash gold bars silver !!!!

    #9 6 years ago

    Well I can vouch for you Roland. He bought my JD and is a vey honest buyer. We worked out a good deal arranging payment/delivery. Whoever is selling you a game should do so with no worries.

    -Jim

    #10 6 years ago

    I take postal money orders when I ship out pins. They are cheap and pretty hard to counterfeit. You can also cash them at post offices so the money never hits a bank account, you know, if you're concerned with that sort of thing..

    #11 6 years ago
    Quoted from mcclad:

    If I gift the payment, would I still be covered under paypal's buyer protection? What if the seller does not ship the machine?

    No, you forfeit your right to any sort of protection when you gift something via PayPal. It's exactly as it sounds....you are giving someone a gift, and they are not required to give you anything in return.

    #12 6 years ago

    Don't do PayPal. Send a money order or personal check (with the caveat that it clears before shipment).

    I've bought several games sight unseen, and fortunately it's worked out every time. Mutual trust, good communication, all that stuff.

    #13 6 years ago

    It's really *bizarre* in the whole scheme of things that the buyer is expected to, unequivocally, send certified, verified, quantified, legit cash money and until that happens, without any uncertainty, the seller will not release the machine to the buyer.

    Think about it. The buyer is required to send 100% as-described, as-expected, guaranteed condition cash, anything less and they receive ZERO. The seller, can send whatever he or she wants. They could send a box of rocks. With near 99% certainty, you will NOT receive a pinball machine that was described accurately. In other words, you WILL receive a pinball machine that has one or more faults that was not disclosed. For *most* sellers, lying by omission is what has happened or will happen. It's a commandment violation in my book or a "moral obligation violation" if you are not of the religious persuasion. Regardless, the SELLER holds ALL the cards. Sucks. Not sure why it fleshed out as society's norm other than the fact most transactions throughout history have taken place person-to-person.

    Now that sellers hold all the cards, sellers are given carte blanche permission to steal. Just a rant. It is what it is. Be a good seller and tell your buyer about defects that he or she hasn't asked you about.

    -1
    #14 6 years ago

    I think if you gifted something via PP and it didn't work out, if you had the email chain saying that the gift was in exchange for something, you would still be okay.

    If I were you, I would be there in person and see the machine loaded up before you paid the seller. Get with the seller and find out what payment methods would work out. If you offered a nice cash downpayment, they might be willing to work with you.

    #15 6 years ago

    Wire transfer straight to your account seems to be best way but you need to wait till funds are in account. Paypal if you really know someone and its gifted.

    #16 6 years ago
    Quoted from Sharon:

    I think if you gifted something via PP and it didn't work out, if you had the email chain saying that the gift was in exchange for something, you would still be okay.

    Absolutely not. When you send the money as a gift, you give up any type of buyer protection from PayPal. The whole reason people gift the money in the first place is to avoid the fees. You can't have your cake and eat it to. If you circumvent the PayPal fees, you are on your own if something goes awry with the transaction.

    #17 6 years ago

    Assuming you have access to a local branch of the seller's bank, you don't even need to do a wire transfer. You can simply deposit the cash straight into their account. It couldn't be easier.

    #18 6 years ago
    Quoted from gweempose:

    Absolutely not. When you send the money as a gift, you give up any type of buyer protection from PayPal. The whole reason people gift the money in the first place is to avoid the fees. You can't have your cake and eat it to. If you circumvent the PayPal fees, you are on your own if something goes awry with the transaction.

    They assume that people don't buy things from friends and family I guess. I don't think mine says 'gift' any more, it says friend or family member. I could be wrong though, it's been a while. There are banks that let you transfer into someone else's acct (send them money) without their bank info, just the phone or email they use with the acct.

    Random thought too - one would hope that during a transaction, you would become friends with the other Pinsider!

    #19 6 years ago

    I like to use pal-pal. That way if the seller tries to rip you off you can get your money back!

    #20 6 years ago

    I understand that you may not want to divulge who the seller is yet, but is it a well established Pinsider with a long track record of posting here? It is not a requirement, but someone with tons of karma who is known here might be less risky than someone who just signed up.

    #21 6 years ago

    With all due respect, why not ask the seller how they would like to be paid?

    Chris

    #22 6 years ago

    MM is the only machine that I've ever bought remotely, everything else has been in person.

    I used www.escrow.com after discussing it with the seller. It was pretty painless. For less than $200 we were both completely protected on a 10k+ transaction.

    For a $2000 transaction their fee is $65

    #23 6 years ago

    I have sold and bought via paypal gifting. The gifting part eliminates the buyer protection, but doesn't require the seller to pay fees on the sell. In my experience, if it's someone on pinside, they have karma points and are active contributors and you get their address/talk on the phone with them, it is pretty safe. This is a small community, no one wants to damage their reputation on a bad transaction.

    #24 6 years ago

    1. If you use gift via paypal, You will pay a fee, but the seller doesn't. No buyer recourse.

    2. If you use a personal check and the seller is willing to wait until you check clears your bank, that is the best way to go as you have a record of paying for the machine and there are no extra charges that would be associated with other payment methods. I would note on the check, payment in full for pinball machine title, serial number.

    Paypal is fine for small purchases, and for down payments. For large money checks and MOs.

    #25 6 years ago
    Quoted from starbase:

    Wire transfer straight to your account seems to be best way but you need to wait till funds are in account. Paypal if you really know someone and its gifted.

    +1

    The pin I just sold the buyer send me half in the form of a cashier's check and the other half he paid when he picked up the pin. Shipping, however, I liked doing the wire transfer.

    #26 6 years ago
    Quoted from minnesota13:

    1. If you use gift via paypal, You will pay a fee, but the seller doesn't. No buyer recourse.

    This is only true when using a credit card. If you have a bank account attached to your paypal account, no one pays any fees to paypal.

    #27 6 years ago

    USPS money orders or cashiers checks are secure.
    Paypal works as well but the gift option saves getting dinged the % but no buyer protection on gifts if that matters.

    #28 6 years ago
    Quoted from Whridlsoncestood:

    Well I can vouch for you Roland. He bought my JD and is a vey honest buyer. We worked out a good deal arranging payment/delivery. Whoever is selling you a game should do so with no worries.
    -Jim

    Thanks, I appreciate that. : )

    #29 6 years ago
    Quoted from SilverUnicorn:

    With all due respect, why not ask the seller how they would like to be paid?
    Chris

    I have to say that is a great idea.

    #30 6 years ago
    Quoted from Phetishboy:

    This is only true when using a credit card. If you have a bank account attached to your paypal account, no one pays any fees to paypal.

    This is exactly right. You used to be able to do it even *with* a credit card....but they eventually closed that loophole.

    #31 6 years ago

    I prefer to be paid in hookers and blow!

    I mean, if you are asking and I have an option... that is always the preferred method.

    #32 6 years ago

    Does anyone know what the maximum amount you can "gift" someone is?

    #33 6 years ago
    Quoted from gweempose:

    Does anyone know what the maximum amount you can "gift" someone is?

    I have no idea. I guess as much as your paypal limit is.

    #34 6 years ago

    All the people suggesting gifting thousands of dollars to save on fees. What if the seller gets audited?

    #35 6 years ago

    I suggest paying in cigarettes and alcohol.

    If that fails then I pay them however else they want.

    #36 6 years ago

    There are some pinsiders whom I wouldn't give any kind of payment to...just sayin'

    #37 6 years ago

    I prefer paypal its very fast, safe and easy to use..

    #38 6 years ago

    Lots of trusting folks out there...

    Don't get me wrong, I like all of you... but when it comes to sending money over without any protection and hoping the machine comes without any suprises? Well, I don't "like" like you

    #39 6 years ago

    Just wire it through *my* paypal account and I'll see it goes through. (Nudge nudge) Ha ha ha ha ha

    #40 6 years ago

    Hugs&kisses...

    #41 6 years ago
    Quoted from gweempose:

    Does anyone know what the maximum amount you can "gift" someone is?

    I do not think there is a maximum, but will note that they have some sort of algorithm set up so that if you get too many 'gifts' or ones for too much $ or a combination of them then you can expect a phone call. I have had it happen. I suggest just telling them it is from friends paying you back for money they owe you and leave it at that. They will likely use the notes from the 'gift' payments to question you in more depth.

    #42 6 years ago

    The best method to protect buyer and seller that noone seems to have mentioned and is almost always done with contracts, is to send money in paper form (MO, Cashiers Check, Personal Check) but as buyer, withhold 20%. Seller receives 80%, money clears, ship game. Upon safe receipt of game, buyer inspects and if no gross flaws of misrepresentation are discovered sends remaining 20%. I do this with all my customers for contract work where I get X amount of money during various stages of completion of work with the final 20% awarded upon mutual agreement that the contract is completed. Granted, it doesn't fully protect buyer or seller, and there's still risk, but it does minimize the risk and encourages both parties to act honestly and above board prior and during the transaction.

    #43 6 years ago
    Quoted from Whysnow:

    I do not think there is a maximum, but will note that they have some sort of algorithm set up so that if you get too many 'gifts' or ones for too much $ or a combination of them then you can expect a phone call. I have had it happen. I suggest just telling them it is from friends paying you back for money they owe you and leave it at that. They will likely use the notes from the 'gift' payments to question you in more depth.

    Good to know. So you probably shouldn't write something like "Here is the payment for the Spider Man pinball machine" in the notes then.

    #44 6 years ago

    I have a lot of money that is different colors with little choo-choo's on it.
    I see a MM in my future!!!!

    #45 6 years ago
    Quoted from cal50:

    I have a lot of money that is different colors with little choo-choo's on it.
    I see a MM in my future!!!!

    Or maybe a Monopoly

    Chris

    #46 6 years ago

    Maybe I can toss in the solid silver custom trinkets like a wheelbarrow,thimble,car,etc to sweeten the deal.

    #47 6 years ago

    I'll gladly take your pin today for payment tomorrow.

    #48 6 years ago

    Why not just ask the seller to send you a paypal invoice. If the 3% is a problem, work it out in your buying price. With an invoice you should have some protection, on both ends.

    #49 6 years ago

    b.s.--- im a pinsider so i can have an opinion on this one, i want cash.

    #50 6 years ago

    I have a lot of money that is different colors with little choo-choo's on it.
    I see a MM in my future!!!!

    Hey Jeff,
    I can give you 1,000,000.00 for your TAF now

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