Selling Notes on eBay and Protecting Yourself

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Folks,

I recently sold some bank find $50 notes.  I usually go in and ask my clerk if they've got any older notes.  This chap had quite a few $50 notes from the bird series and with the Musical Ride.  I picked through to check for serial numbers and condition.  Some of the bird series looked UNC.  If not UNC, extremely close to UNC.

I listed some on eBay.  I figured I'd try to make a few bucks.  One of my bird series notes sold for $82 CAD (Free Shipping).  The guy gets the note and claims it is unfairly represented and says it is not UNC.  So, I read through the description as per Charlton guide standards, and I still think it is UNC.  I selected the no returns option on eBay.  I'm pretty new as a seller.  But, I took several high resolution photos.  I'll be out the shipping this way, and will have to refund and will lose my eBay fees.  It hardly seems worth it?  What's the deal?  Do I have no way to protect myself from this sort of buyer?  The UNC value is $80 for the note, and I think higher was much more.  From my experience when you buy run of the mill notes on eBay, you get what you pay for.  If you want a Gem UNC note, you have to pay pretty close to book value for it.

The item number is 171186776012

Just wondering if anybody with more experience would weigh in.  The photos are very much representative of the note in my opinion.

Also, saying a note is UNC is highly subjective.  A counting crease of some sort could still garner an UNC grade.  I just don't want to be unethical in my listing.  But, I also don't want to get burned.  I have a few more notes in similar condition to this one, but if I have this kind of trouble, I won't want to bother selling them.

Any insight would be greatly appreciated!

the bottom line is that buyers always have the final say and the buyer always wins..that's ebay for you
unless you want bad feedback you either bite the bullet on shipping and get the note back and get a refund on ebay fees
or you ask the buyer what he would be happy paying for it and see if the compromise is better than what you would lose for shipping, etc.   assuming your note doesn't accidentally get lost in the mail...it's a catch 22
good luck

I selected the no returns option on eBay.

If that is the case: then you are not obligated to accept a return.  You could remind the buyer that you posted the non-return warning on your listing.  However, if you are worried about negative feedback (& the buyer escalates this) you may need to compromise so I suggest that you propose a return ONLY if the buyer pays for Express Secured shipping & a processing fee (calcuate your ebay/Paypal fees).  You will pay when you see the note (minus your processing fee) and then you should expect positive feedback. 

Also: in order to avoid future problems you are better off to state:
"The note appears to be UNC but that is my opinion only.  Please view the photos and judge the condition of the note for yourself.  All sales are final.  Do not bid if you intend to judge the note in person and decide you don't share my opinion for the purpose of returning it."

And since you got the note at the  bank it has been lightly circulated (at the very least) so you may wish to state that as well.  Hundreds & fifites are hard to sell b/c of wha tyou experienced.

My advice: Don't sell high denomination notes on eBay when those notes command little in the way of a premium over face value.  It's a waste of time.

Buyers should always have the ability to return items, and that's the way it should always be.  Just because eBay allows sellers to choose a "no returns accepted" policy, does not mean you get to sell anything "as is".  Go ahead, keep the buyer's money and see what happens.  I bet you'll have it clawed back and the buyer will get to keep your note.  Then you'll be crying about more than the postage costs and listing fees.

I suggest accepting the return, providing a refund, and asking eBay to refund your seller fees.  Yes, it's possible to get your seller fees back, and it's not hard.

Absolutely under NO circumstances re-negotiate the final sale price of the item.  A few buyers are chronic whiners and will do anything to get a post-sale discount.  That's what could be happening in your situation.  The buyer paid too much for the note and is trying to weasel out.  Ask him to return it, and if he doesn't, then you successfully called his bluff.  If he insists on being difficult and leaves unflattering feedback, blackball him.

 
Also: in order to avoid future problems you are better off to state:
"The note appears to be UNC but that is my opinion only.  Please view the photos and judge the condition of the note for yourself.  All sales are final.  Do not bid if you intend to judge the note in person and decide you don't share my opinion for the purpose of returning it."

That's great advice for anyone who absolutely wants to get as little as possible for their notes.  Seriously, putting conditions in your listing like this just screams "corrupt seller" and will quickly sink a reputation.  Saying that you think the note is one grade but buyers should form their own opinion tells the buyer you have no confidence in your own grading.  It also sounds like a disclaimer, leaving no room for buyers to show any confidence in you.  Whether you like it or not, buyers hold sellers responsible for their listings, and they will be more likely to trust someone that owns up to their responsibility.

That's great advice for anyone who absolutely wants to get as little as possible for their notes.  Seriously, putting conditions in your listing like this just screams "corrupt seller" and will quickly sink a reputation.  Saying that you think the note is one grade but buyers should form their own opinion tells the buyer you have no confidence in your own grading.  It also sounds like a disclaimer, leaving no room for buyers to show any confidence in you.  Whether you like it or not, buyers hold sellers responsible for their listings, and they will be more likely to trust someone that owns up to their responsibility.

Yes the language is probably too strong, but this listing tactic is common for a reason.  Letting buyers know it's your opinion only and asking them to review the scan and ask questions shifts much of the responsibility over to the buyer.  You should also describe any faults in the note.  Properly worded, your listings will sell for about the same (maybe a few bucks less), but you will get minimal returns.  Be patient and put notes on "buy it now" and wait for offers and you will get the max for any note.

Yes the language is probably too strong, but this listing tactic is common for a reason.  Letting buyers know it's your opinion only and asking them to review the scan and ask questions shifts much of the responsibility over to the buyer.  You should also describe any faults in the note.  Properly worded, your listings will sell for about the same (maybe a few bucks less), but you will get minimal returns.  Be patient and put notes on "buy it now" and wait for offers and you will get the max for any note.

The quality of images of the note(s) being sold will trump any listing policies or practices.  In other words, if your images are clear and demonstrate the condition of the note, bidders will bid.  But providing average to poor quality images (especially with the contrast cranked way up) and telling bidders they are on their own is not a recipe for success.  I turn away from countless numbers of listings because I can't place any confidence on my ability to grade based on what I see.  It's just too easy to make notes look better than they are.  Telling me I don't have the option to return a note also makes me less willing to gamble.

Perhaps a newbie question but you just mentioned you can get bank notes from your bank? So from my understanding, if I went to my local branch - I can ask them if they have any old notes in stock?

-Chris

Perhaps a newbie question but you just mentioned you can get bank notes from your bank? So from my understanding, if I went to my local branch - I can ask them if they have any old notes in stock?

-Chris

Banks don't keep notes "in stock", meaning they don't make it a priority to hold on to older notes as a courtesy to their clients.  They get older notes from time to time, and if you show up on the right day, they could let you buy the notes they have for face value.  Older notes are usually held back, though, so even if they have some, they might not let you buy them.  Asking for older notes might bring about suspicion directed toward you.  These days, financial institutions are deeply paranoid about counterfeiting and security.  The last thing you want to do is come across like you want older notes for counterfeiting purposes.  You need a good relationship withe people at your financial institution(s).  It's a lot of trouble for very little gain, and that's why I don't do it.

Yeah.  I think you need to develop a relationship with your branch first.  I have visited other branches and asked for notes, and they think I'm the devil or something.  Immediately I get a reaction of "We aren't allowed to give them out".  Very stern.  Or sometimes "Oh we never get them."  Specially when I ask about the thousand dollar bill.  Funny though.  When I start asking about that note, they start to take me seriously...

Perhaps a newbie question but you just mentioned you can get bank notes from your bank? So from my understanding, if I went to my local branch - I can ask them if they have any old notes in stock?

-Chris

what does this have to do with this topic? should be put elsewhere

Yeah.  I think you need to develop a relationship with your branch first.  I have visited other branches and asked for notes, and they think I'm the devil or something.  Immediately I get a reaction of "We aren't allowed to give them out".  Very stern.  Or sometimes "Oh we never get them."  Specially when I ask about the thousand dollar bill.  Funny though.  When I start asking about that note, they start to take me seriously...

Again..what does this have to do with this topic   

Again..what does this have to do with this topic   

Just a build on the thread (see the OP's first line of their post).  No harm, no foul.