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    How safe is it to sell gold on ebay?

    Sometimes I get those £3 max final value fee offers from ebay. I'm thinking of selling my 10gram gold as it demands a higher value on ebay. I'm just a bit worried whether there is any way a seller can screw me over? Thank you.

    17 Comments

    There are plenty of ways you can be screwed over on Ebay, even for low value items. I sold a gold coin worth £600 on Ebay to someone in Eastern European with no problems.

    Just make sure you send it tracked and covered for the full value. Not all couriers will cover you so check the small print. If you are not sure of a potential buyer block them. Any buyer who wants it sent to a different address to the PayPal one, want to pay in installments, send their own courier to collect, want to meet you in a dark car park, want to send you double the value and you refund them half or any other suspicious things, block. You must prove delivery (online tracking) to the address given when they pay or they can just claim non delivery.

    Also make sure you get the postage cost right and check your fees are covered (inculding PayPal).

    I am sure there will be a procession of posters whose brother's girlfriend's best friend's cousin got ripped off on Ebay and it does happen. However if you are careful, sensible and ignore any too good to be true offers you will be okay.
    Edited by: "Guest991145" 17th Sep 2016

    Like above its a gamble to be honest, If taken steps if they spring a case on you should have some sort of proof you have the product in the first place, some sort of proof or invoice when you bought it?

    is the difference in how much you get worth losing it all? - one reason i hate ebay now

    Selling on fleabay is like selling on crooks alley, you would be better off going to a gold buyer premises, the price may be a little lower but the aggravation you might get is nil compared to the way you are proposing to use.

    If you decide to sell it on eBay, insist on cash on collection only

    Grill

    If you decide to sell it on eBay, insist on cash on collection only



    ​^^^^This

    Original Poster

    Grill

    If you decide to sell it on eBay, insist on cash on collection only



    How does ebay gets its cut then? Is this outside their terms?

    My main concern is someone changing their mind and returning me a fake one.

    Dont offer postage. Offer local collection only and insist on payment on collection

    TheShadowWalker

    How does ebay gets its cut then? Is this outside their terms?My main … How does ebay gets its cut then? Is this outside their terms?My main concern is someone changing their mind and returning me a fake one.



    Ebay still charge their 10% fee (or £3 max in the case of the offer you mention) irrespective of the payment method, it's just the paypal fees you won't have to pay.

    The snag with this is that whilst cash on collection is definitely safer from the sellers point of view, it will significantly limit the number of potential buyers to the point where you may struggle to beat the price you'd get from a specialist gold buyer.
    Edited by: "spoo" 19th Sep 2016

    spoo

    Ebay still charge their 10% fee (or £3 max in the case of the offer you … Ebay still charge their 10% fee (or £3 max in the case of the offer you mention) irrespective of the payment method, it's just the paypal fees you won't have to pay. The snag with this is that whilst cash on collection is definitely safer from the sellers point of view, it will significantly limit the number of potential buyers to the point where you may struggle to beat the price you'd get from a specialist gold buyer.



    Not to mention the risk of getting counterfeit cash. I would sell to an authorised dealer.

    st8mike

    Selling on fleabay is like selling on crooks alley, you would be better … Selling on fleabay is like selling on crooks alley, you would be better off going to a gold buyer premises, the price may be a little lower but the aggravation you might get is nil compared to the way you are proposing to use.


    Not really, I have over 750 feedback 70% of which is for selling - I have only ever had one issue of an item not being delivered where I have ended up out of pocket, a scam possibly (but unlikely). But it was in my early days of selling so I learnt a lesson which fortunately didn't cost me too much.

    Generally ebay goes wrong when people get greedy or it's down to stupidity.

    ipswich78

    Not really, I have over 750 feedback 70% of which is for selling - I have … Not really, I have over 750 feedback 70% of which is for selling - I have only ever had one issue of an item not being delivered where I have ended up out of pocket, a scam possibly (but unlikely). But it was in my early days of selling so I learnt a lesson which fortunately didn't cost me too much.Generally ebay goes wrong when people get greedy or it's down to stupidity.


    So you are saying people either have to be greedy or stupid ??? I think your view of people who get " taken " is derogatory, there are many nice innocent people who have been " done over " by some who operate on Fleabay, it is a minefield of great sellers and scammers, and to try and navigate them is not something every body is competent at.

    st8mike

    So you are saying people either have to be greedy or stupid ??? I think … So you are saying people either have to be greedy or stupid ??? I think your view of people who get " taken " is derogatory, there are many nice innocent people who have been " done over " by some who operate on Fleabay, it is a minefield of great sellers and scammers, and to try and navigate them is not something every body is competent at.



    You can minimise the risks however by following the rules and being extra cautious. I have bought and sold lots over the years with only one problem. I would never buy or sell iphones on the bay though, that is fraught with danger.

    st8mike

    So you are saying people either have to be greedy or stupid ??? I think … So you are saying people either have to be greedy or stupid ??? I think your view of people who get " taken " is derogatory, there are many nice innocent people who have been " done over " by some who operate on Fleabay, it is a minefield of great sellers and scammers, and to try and navigate them is not something every body is competent at.


    Granted maybe stupidity was too stronger word (in some cases it definitely applies though seeing some of the threads on this website!). Maybe ignorance would be a better choice or naivety?
    Edited by: "ipswich78" 19th Sep 2016

    ipswich78

    Granted maybe stupidity was too stronger word (in some cases it … Granted maybe stupidity was too stronger word (in some cases it definitely applies though seeing some of the threads on this website!). Maybe ignorance would be a better choice or naivety?


    Naivety is an excellent choice. Some people are lucky or unlucky depending on how you view it, to be " worldly/street wise, but for those who aren't Fleabay can be daunting place, that's why I would always advise anyone considering a high value transaction to not be taken in by the " deals " advertised, and to seriously consider a safer option even though it may not be as financially rewarding.

    Original Poster

    st8mike

    Naivety is an excellent choice. Some people are lucky or unlucky … Naivety is an excellent choice. Some people are lucky or unlucky depending on how you view it, to be " worldly/street wise, but for those who aren't Fleabay can be daunting place, that's why I would always advise anyone considering a high value transaction to not be taken in by the " deals " advertised, and to seriously consider a safer option even though it may not be as financially rewarding.



    I've just checked. If I go to a bullion dealer, I'm £60 worse off

    TheShadowWalker

    I've just checked. If I go to a bullion dealer, I'm £60 worse off



    Well if you are down on the transaction then it's probably not the best time to sell. Unless your desperate for the money now. Trading precious metals is generally a long game.

    Original Poster

    GAVINLEWISHUKD

    Well if you are down on the transaction then it's probably not the best … Well if you are down on the transaction then it's probably not the best time to sell. Unless your desperate for the money now. Trading precious metals is generally a long game.



    Oh no, I meant that I could sell it for £400 on ebay (offered £1 max fvfee when you sell) whereas if I go to a bullion they'll only offer £310-£320.

    I got the Gold when ebay had that 20% off offer for £270 net
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