How to purchase from audiogon

Eastern
Eastern Posts: 43
edited February 2024 in Clubhouse Archives
Hi,

I am purchasing for the first time from a seller in audiogon, I am unsure of the steps and precautions I need to take to ensure that this deal goes smoothly. Can someone help me with some ideas? I have never purchased anything this way (like ebay).

He demands a bank draft, that offers me little protection if he cashes it out and forget about me. Is this a usual method of payment?

Thanks in advance.
Post edited by RyanC_Masimo on

Comments

  • RuSsMaN
    RuSsMaN Posts: 17,986
    edited July 2003
    Bank Draft, no, VERY unusual.

    Does the seller have any feedback? If you don't mind, how big a purchase/what are we talking about here?

    Cheers,
    Russ
    Check your lips at the door woman. Shake your hips like battleships. Yeah, all the white girls trip when I sing at Sunday service.
  • Eastern
    Eastern Posts: 43
    edited July 2003
    The amount is 1150 USD for B&K Ref 30 pre-pro he has 3 reviews all very recent.
  • dorokusai
    dorokusai Posts: 25,577
    edited July 2003
    Eastern - If you aren't comfortable, then don't do it. Be safe. A safe option for both parties is to use Escrow, see if this is a viable option for him.
    CTC BBQ Amplifier, Sonic Frontiers Line3 Pre-Amplifier and Wadia 581 SACD player. Speakers? Always changing but for now, Mission Argonauts I picked up for $50 bucks, mint.
  • RuSsMaN
    RuSsMaN Posts: 17,986
    edited July 2003
    The more I think about it, I'd just steer clear altogether. Even if he came back and said a Money Order was ok.

    I can't think of ANY reason to insist on a Bank Draft. Even on an MO, Cashiers Check etc, he could hold the item until the payment cleared.

    If it was a $100 pair of interconns or some such, throw the dice if you really wanted them. 1 large? No effin way. I say keep shopping around.

    Cheers,
    Russ
    Check your lips at the door woman. Shake your hips like battleships. Yeah, all the white girls trip when I sing at Sunday service.
  • dorokusai
    dorokusai Posts: 25,577
    edited July 2003
    Yea, thats alot of cake to be sweating about for the next 2 weeks....
    CTC BBQ Amplifier, Sonic Frontiers Line3 Pre-Amplifier and Wadia 581 SACD player. Speakers? Always changing but for now, Mission Argonauts I picked up for $50 bucks, mint.
  • F1nut
    F1nut Posts: 50,753
    edited July 2003
    Did the seller list method of payment in his ad? Did you discuss it with him before agreeing to buy the B&K? Was this an auction or outright sale?

    I've done many deals on Audiogon, never once would I pay with a Bank Draft. Forget it....walk away. If this was an outright sale he can not leave you negative feedback if money has not changed hands, but if it's an auction then he could. For s**ts and giggles could you post a link to the ad for us?
    Political Correctness'.........defined

    "A doctrine fostered by a delusional, illogical minority and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a t-u-r-d by the clean end."


    President of Club Polk

  • har_navalta
    har_navalta Posts: 957
    edited July 2003
    I remember I paid my 1.2TL's by Bank Draft.

    The Bank draft from my bank(TD Canada Trust) here in Toronto to Henderson, Tx.

    Payment by Bank draft for me much better than Money Order.

    He was honest guy. Thanks to Sean Wingate, I really love your
    father's 1.2TL's;)

    Har
  • TonyPTX
    TonyPTX Posts: 545
    edited July 2003
    Personally I'm a big fan of PayPal. Yeah you may have to pay a bit more for a premium, but the security blanket it provides makes me more than happy to pay that small fee.
    Damn....8 lines...I've gotta put my sig on a diet now....
  • brettw22
    brettw22 Posts: 7,623
    edited July 2003
    I think that you get 3 feedback points for a transaction, which would mean that if your seller has 3, he's done one transaction to the satisfaction of ONE buyer.......

    Look at other payment methods, or skip it......
    comment comment comment comment. bitchy.
  • RuSsMaN
    RuSsMaN Posts: 17,986
    edited July 2003
    Paypal will add ZERO security to a transaction. ZERO. Been there twice, paypal is convenient, that is IT. Good luck if you are counting on them to make good.

    Cheers,
    Rooster
    Check your lips at the door woman. Shake your hips like battleships. Yeah, all the white girls trip when I sing at Sunday service.
  • F1nut
    F1nut Posts: 50,753
    edited July 2003
    I concur with Russman's statement about PayPal, effn worthless unless you pay with your credit card and you are sure that your CC company will protect any purchase paid through PayPal. Some will, some won't.
    Political Correctness'.........defined

    "A doctrine fostered by a delusional, illogical minority and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a t-u-r-d by the clean end."


    President of Club Polk

  • dorokusai
    dorokusai Posts: 25,577
    edited July 2003
    They should call it GayPal, because all its wants to do is fook you in the arse.....or your pocketbook
    CTC BBQ Amplifier, Sonic Frontiers Line3 Pre-Amplifier and Wadia 581 SACD player. Speakers? Always changing but for now, Mission Argonauts I picked up for $50 bucks, mint.
  • bsmith15
    bsmith15 Posts: 23
    edited July 2003
    Someone above mentioned Escrow.com. I have used it at buyers request on a couple of Audiogon deals and it actually gives both buyer and seller some form of protection. It is a step by step process and they will only release the funds to seller once you receive the item and give the OK, and seller will be notified when Escrow has funds from buyer to ship the item. I do not know what the fee are for starting a transaction ( I was seller in the one's I delt with), but there are fees to seller if they would want thier funds wire transfered to a bank account after deal is done.

    I have done certified checks for larger Audiogon deals, but only if seller has a high positive feedback = numerious transactions and I have spoken to them via telephone....or if it is a dealer.

    Seller may be looking for some protection if your feedback is low due to being a new member on Audiogon, but since at some point they will have both the pre and your money you have to be careful. See if Escrow.com will work for them.

    New listings are posted every day (300+) on audiogon, so if this deal just does not seem right to you (and you are not committed due to an auction), just wait. Another pre will come up for sale most likely soon.
  • madmax
    madmax Posts: 12,434
    edited July 2003
    I've done a lot of this and took a lot of chances. I'm just wondering though, does any form of payment offer any protection at all? A MO is guarenteed payment to the seller as is a bank draft. If you let a check clear then it is too late to cancel. Paypal no longer lets you use protection from your credit card company. It sounds like escrow is your only choice to me if you are not willing to roll the dice.
    madmax
    Vinyl, the final frontier...

    Avantgarde horns, 300b tubes, thats the kinda crap I want... :D
  • reeltrouble1
    reeltrouble1 Posts: 9,312
    edited July 2003
    Totally agree about Paypal. A terrible company, thank God for my credit card company, I filed a claim with paypal they did nothing, absolutely nothing for me exceprt give me a hard time. Once my credit card company credited my account they sent me a nasty email threatening me with restricting my account. Screw paypal I will never use them again.

    As far as the bank draft goes, you should walk, one deal done is not enough.
  • Eastern
    Eastern Posts: 43
    edited July 2003
    Thanks for all the advice, I'll suggest going with escrow with him. No he did not list his item for sale in the classifieds, just a response to a wanted ad.

    On the side, he did seem sincere and honest and even agreed to send the pre-pro in to the dealer for upgrade to ref50 for me.

    I feel that paypal and services like that, a lot of them are gimmicks that play on consumer fears. They make money from the 95% honest folks that completes their trades. As for the other 5% of incomplete trades ... they don't do much to help.

    Cheers
  • dorokusai
    dorokusai Posts: 25,577
    edited July 2003
    Good luck Eastern, even if it doesn't happen, another deal will in the furture.
    CTC BBQ Amplifier, Sonic Frontiers Line3 Pre-Amplifier and Wadia 581 SACD player. Speakers? Always changing but for now, Mission Argonauts I picked up for $50 bucks, mint.
  • danger boy
    danger boy Posts: 15,722
    edited July 2003
    Eastern,

    this seller just seems way to eager to have you use the bank draft. it sounds like he is willing to say anything to entice you to move ahead with the deal. he's reaching for anything to hook you in. i'd say walk away now before something bad happens. like someone said... it's a good deal of money.
    PolkFest 2012, who's going>?
    Vancouver, Canada Sept 30th, 2012 - Madonna concert :cheesygrin:
  • danger boy
    danger boy Posts: 15,722
    edited July 2003
    if it's to good to be true.. it probably is. how many times have we heard that? it is the truth.
    PolkFest 2012, who's going>?
    Vancouver, Canada Sept 30th, 2012 - Madonna concert :cheesygrin:
  • F1nut
    F1nut Posts: 50,753
    edited July 2003
    You can send a email to the other people he has dealt with to see what they bought and if they paid with a bank draft. I have a bad feeling about this guy, a little too accommodating. Escrow.com or walk away and don't have him send it to B&K, it should come to you first.
    Political Correctness'.........defined

    "A doctrine fostered by a delusional, illogical minority and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a t-u-r-d by the clean end."


    President of Club Polk

  • Eastern
    Eastern Posts: 43
    edited July 2003
    I backed out of the deal, I'm gonna go look around the local dealers for some deals instead. Thanks all.

    Cheers
    Eastern