How Do You Handle Payment When Selling a Gun?

Fred_G

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I have sold, bought, traded and even given a few things away on the internet over the years. Only got burnt one time, on a computer forum years ago. But, I am wondering the best way to sell a semi custom 1911 online. I am still in the planning phase of it, hate to sell, but blah blah...

So, how is the cash part best handled? Receive payment, ship item, use pay pal or something... Most stuff I have bought or sold has been under $100, so, if someone really wants to screw me, it really won't affect me, but a semi custom gun, well, I am selling for a reason...

Ideas?
 

Bender

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If I accept a purchase from a buyer that wants to use PayPal, I use the stipulation that I don’t ship until the funds have cleared PayPal and is in my account. USPS money orders and bank certified checks work well also. I like to use the same ideology, no shipping until funds clear.

Oh, and I tend to prefer to sell to those that people I know can verify or vouch for.
 

Babboonbobo

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Haven’t sold anything with that value yet, hope not to but I have purchased plenty!
I’ve always used personal checks and never had an issue, so depends on the person and wether you trust them.
 

OldGunner_43

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I've bought guns worth over $10,000 from people that I know and know me from prior dealings. They shipped the gun when I told them that I had mailed my check. That isn't the normal way of doing business. As Bender said, you shouldn't ship until you have funds delivered to your account - via whatever means you choose. Anyone who can't wait "for their check to clear" probably isn't someone you need to do business with. You'd be taking too much risk. As a financial advisor, I used to tell people that there's no such thing as a deal you have to do.
 

Fred_G

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Great info. Makes total sense, I am just used to selling on the buyer's word payment had been sent, as I just have sold low dollar items. Of course, face to face or to people I know is preferred. Now I just have to decide if I want to try to sell the gun or not... Of course, when one gun goes away, another one is going to be inbound...
 

Whiten

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I have sold, bought, traded and even given things away also. I like to deal with people that have a good history. I will buy or sell small things without worry but when it comes to a major purchase I'm very leery to sends funds to someone without any feedback. I always do insurance if package get lost or damaged in shipping the buyer and seller are covered. This I used on more than one occasion that a package got lost.
 

boatdoc

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I have sold, bought, traded and even given things away also. I like to deal with people that have a good history. I will buy or sell small things without worry but when it comes to a major purchase I'm very leery to sends funds to someone without any feedback. I always do insurance if package get lost or damaged in shipping the buyer and seller are covered. This I used on more than one occasion that a package got lost.
have you done that with a gun? I understand to insure the package, you must declare what it is( high cost item). and then there is hassle with the shipper and the? of will they honor a claim for 2-5 grand?

shipping guns makes me nervous.
 

rjinaz86323

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I have bought and sold a few guns in the past. I always use my FFL to do the shipping. Might cost me a little more, but it eliminates all the hassles. As an example I sold 2 guns Thursday to the same buyer. Shipped them together with $1500 insurance through my FFL. They use Fedex and they will be delivered on Monday. Total cost was $75. All I did was drop them off with the appropriate FFL cert from the buyer. They record them, box them and off they go.

I always get full payment (cleared the back) before shipping.

Only problem with USPS money order is if it is lost you can not file a claim for 60 days and you have to pay to have them (they lost a $45 MO and I had to pay $6) try to find it
 

Whiten

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have you done that with a gun? I understand to insure the package, you must declare what it is( high cost item). and then there is hassle with the shipper and the? of will they honor a claim for 2-5 grand?

shipping guns makes me nervous.

I ship though my FFL only, his insurance covers the firearm. He charges me $25 plus actual shipping. It works out cheaper most of the time plus I don't have to deal with FedEx or UPS people.
 

ThePlumber

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I will take money orders, cashiers check or personal checks. I do stipulate that I will ship the gun once MY bank says it’s cleared (can be 7-10 days potentially). I have wired money to a smith once, also. I ship FedEx overnight insured from my business office to their FFL.
 

Zipper046

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I've bought, sold, and traded in another forum.....

Small items: PayPal (if the other user is amenable).

Larger items: USPS Money Order

I also like to connect via phone to have a conversation before finalizing a deal...and I get a copy of the other party's driver's license and/or carry permit...keep copies of all for my records....or my investigation should I get burned (luckily, hasn't happened yet...)
 

deadguy

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Due diligence, regardless of buying or selling. Whitepages.com, social media, etc. Gather as much as you can on the other party, such as home address, phone number, and whatever else you can uncover. Email for communications works well, as you have documented info. When shipping a gun to an FFL, speak to the FFL and see if they know the receiving party.

I take photos of the gun as I am packaging it, and send buyer the pics. Damage can occur during shipping as well as by clumsy, fondling FFL employees. Date and time stamps on photos can help.





Sent from my SM-G955U using Tapatalk
 

Bender

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I’m the king of the 1911 junkies. There was a long running joke on the other other other place that “I was out to own them all, just one at a time”. I’ve owned some rather amazing pieces. It’s taken me a while to figure out what I want, like, need.

Most people I dealt with were people I knew, or knew of. I’ve only had a few that deals that went south. One was a person I knew that simply did not live up to his side of the agreement. I allowed him to make payments on a pistol. Half up front then two or three additional payments to complete the amount. After the second month payment was three weeks late, I refunded the money he had paid and quickly sold the pistol. The second was a pistol I had bought. The seller shipped it himself, but unused USPS, instead of UPS or FedEx as he had agreed upon. Needless to say, my dealer was rather pissed. I had to do some tap dancing to smooth things over, not a good time.

As far as payment, I’ve taken checks, money orders, cashiers checks and cash for face to face transactions. For a FTF deal, I generally take a second person, just in case, unless I know of the buyer/seller. For checks and money orders, I don’t ship until funds clear my bank and the buyer sends me a copy of e check after it has cleared THEIR bank. If I know the person I’m selling to I generally just wait until the funds have cleared my bank.

Key point is communication. If the buyer/seller is not communicating well, resistant to answer questions or provide additional requested pictures or information, walk away. Use your gut, if it doesn’t feel right, it often isn’t. Trust is key, if I can’t trust the buyer/seller, no transaction.
 

azpoolguy

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I take cash, check, money order, PayPal and Cashiers check. I wait till the money is in hand before shipping.

Communication is key. If the guy or gal doesn’t want to wait till I have the funds before I ship then I will find another buyer.

I had a pistol I sold last year shipped from my FFL to their FFL in Montana. When the pistol got to Montana the FedEx hub automated scanner glitches and shipped it back to my FFL. Then my FFL had to ship it a second time. I tracked the package and gave the buyer daily update . If he chose to get up set that’s his choice as it was out of my hands. He was very understanding of the situation and all worked out well in the end.
 

pscipio03

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Sold/traded many. If it's someone I've done business with before, I ship when I get the confirmation that they paid me PayPal. If sending me a check/money order, I ship when it's in my hands. If trading, I ship that day or at the latest the next.
If it's someone I've never done business with before, trust but verify. I'll wait until it clears or I have the trade in hand. If it's someone that is a senior member (I'm referring to Addicts really) and they have more than a couple positive feedbacks, I'll follow the same as if I've done biz with them before.
 

Zipper046

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I've bought, sold, and traded in another forum.....

Small items: PayPal (if the other user is amenable).

Larger items: USPS Money Order

I also like to connect via phone to have a conversation before finalizing a deal...and I get a copy of the other party's driver's license and/or carry permit...keep copies of all for my records....or my investigation should I get burned (luckily, hasn't happened yet...)

Others posted about social media searches...great call. There is alot on all of us out there. I recommend “beenverified.com”...it’s a pay service but has alot of the same info i get through databases at my job (LE).

Oh...and once i establish comm’s with the other party, i gently drop the hint about what i do for a living...if they get flaky, i’m out....LOL.
 

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