Adding postage compensation for sale value

[raitei90]

Hi

 I’m currently selling a limited edition collectible in at what will be a significant increase in price to what I paid.

 I’d like to send it to the winner with some assurance that they receive it, and if not the value of the item is covered, not just the price I paid initially.

 Is there any option or service that’s recommended to achieve this.

 It looks the be selling in the region of 2.5-3k if that makes a difference

[papso22]

The buyer is covered by the money back guarantee and will get a full refund from you if something happens to the item during delivery.

It's you that needs the protection and you will have to do some research yourself.  Very few couriers will cover something of that value and the weight might be an issue for those that do, such as RM.

You listed as Parcelforce 48, what do they cover?

[roger_roger_over_and_nowt]

I think i would be more concerned about being a potential scam magnet.

Virtually no selling history and probably not aware of what Ebay's MBG actually means makes it so.

Stating no returns means very little,any buyer can return an item and "claim" not as described for a full refund.If that were to happen then "hopefully" the buyer would return what was actually sent 🤐 .

Any payments would be held for 30 days or possibly more due to value,selling history,high risk item etc.

[lucy_farmer]

I don't like to be negative, but I'd be very wary of selling anything for 2 or 3 thousand pounds on ebay!

Ebay is more for cheap'ish things that you're not worried about losing if it all goes pear-shaped...... 🍐

[jckl1957]

Parcelforce is possibly one of the safest options but they only cover items up to £2500 and, like most companies, they would expect to reimburse you what you paid, rather than what you sold for.

Their Ts & Cs state:

Collectable Items : Any loss of, or damage to, any collectable shall be limited to the lesser of the actual cost price paid for the collectable by the seller or the purchase price paid by the buyer and shall not exceed Parcelforce Worldwide’ s stated limits of compensation.

As suggested, you would need to do your own research.

I would have listed the item as 'collection only' but even that would not protect you from a return claim.

[davrman]

I'd agree with the caution advised already about selling such an expensive item on eBay...

If you do want to proceed, you might investigate Royal Mail Special Delivery with extra cover for Consequential Loss (available up to £10,000). This is designed to compensate you for losses in addition to the item itself, and it's possible this might include your lost profit. You'd need to check the terms and conditions and/or contact RM for clarification on this.

https://www.royalmail.com/sending/uk/special-delivery-guaranteed-1pm

[thesmokingrunner]

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@jckl1957 wrote:

Parcelforce is possibly one of the safest options but they only cover items up to £2500 and, like most companies, they would expect to reimburse you what you paid, rather than what you sold for.

Their Ts & Cs state:

Collectable Items : Any loss of, or damage to, any collectable shall be limited to the lesser of the actual cost price paid for the collectable by the seller or the purchase price paid by the buyer and shall not exceed Parcelforce Worldwide’ s stated limits of compensation.

As suggested, you would need to do your own research.

I would have listed the item as 'collection only' but even that would not protect you from a return claim.

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I have nothing to add to any previous replies but would like to thank you, @jckl1957 , for including the first sentence in your post. Having pointed out on several other posts that RM compensation only covers the buyer's original purchase price - and only then if proof such as a purchase invoice is provided - someone recently claimed that RM pays out the sale price if you provide a screenshot of the eBay transaction.

I have yet to see actual proof of such a compensation payout being made and I have to say I find it incredibly tiresome when "experts" make claims which are not backed up with evidence. Frankly it was a relief reading your post. At last, I thought, I am not alone; there really is someone else who actually understands how the RM compensation process works. Thank you.

[papso22]

You posted from your experience,  others posted from theirs. We have not seen any evidence for any of the statements made, including yours.  

Parvelforce is a separate business from Royal Mail,  they have different T&Cs. 

The other thread was about RM, the poster you replied to here quoted Parcelforce, but that quote refers to collectibles, a PS5 is hardly that.

[martmarg41]

Have you actually opened the box and checked the contents yourself?

I would open and record/photo the unit serial numbers etc, just in case.

I think it is too late for you to change the postage description now that you have bids on the item.

It is extremely risky selling and posting this high a value item on eBay. You best hope is that you get a local buyer who could collect or you deliver personally.

[vintique*violet]

Can you not deliver the item yourself  if the buyer is not too far? ( document,  video, photos get the buyer to sign something saying received ? etc) Items of high value are a risk. 

I would say you need a specialist courier and the item to be very well packaged for protection. 

You could perhaps make some enquiries... Even if it costs you a couple of hundred , you will have peace of mind and both you and the buyer satisfied. 

Just a few thoughts. 

[johnwash1]

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@thesmokingrunner wrote:

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...

I have yet to see actual proof of such a compensation payout being made and I have to say I find it incredibly tiresome when "experts" make claims which are not backed up with evidence. Frankly it was a relief reading your post. At last, I thought, I am not alone; there really is someone else who actually understands how the RM compensation process works. Thank you.

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Recent actual experience: I sold an item posted via RM and it went missing in transit.  Unsurprisingly, this was an item many years old and for which I had no receipt.

RM very promptly sent me a cheque covering the sale price plus postage, as shown in the screenshot of my listing that I'd submitted with the claim.

But that was for £13.81.  My jaw drops to the floor when I see someone selling something in 4 figures on ebay (or even for several hundreds, frankly).  And some of the bidders on this auction have really low feedback.  Successful delivery would be the least of my worries if I were in the seller's shoes.  And even if the buyer is in Highlands+Islands and he takes it to the buyer in person, the worry only starts then.  INAD claim?  Different item returned??

[myriad*seller]

If the buyer doesn't receive it they are GUARANTEED a full refund by eBay

The seller is the one who needs protection as the buyers money is protected by eBay, and the buyer is guaranteed to be reimbursed by eBay (from your funds) if the item gets lost or broken in transit.

Couriers will only refund you the lower of the sale price or the cost price (you will have to prove both).

So you would only be compensated for your ACTUAL loss (eg the cost to buy the item).

There are no couriers who pay out your sale price as they do not pay out for lost profit, only your actual loss

Especially on an item of this value, you would need to prove what you bought it for and what you sold it for but will only receive what it cost you to buy as compensation. 

Once the buyer receives the item, they can still get a refund by opening a case for item not as described or by doing a chargeback with their card provider

If they do a chargeback, you will refund in full and won't get the item returned

Can you REALLY afford to lose the item and the money if the worst comes to the worst, as this is what can and does happen to sellers! 

[myriad*seller]

Oh dear, it's a Playstation - high value scam magnet, being sold during the height of the scam period 

If the buyer alleges you sent an empty box, they WILL be refunded, you know. You cannot contest it. 

And that is the way I can see this transaction going! 

[vintique*violet]

Do you have proof of purchase? That is important for a sale of this magnitude as it listed as new and unopened. 

There is another one listed  ( buy it now) by a different seller who has partially opened the box to show the identity number of the console. 

Does it state it on the box? Please cover yourself and take as much information of the item to assist you. Identity reference numbers, sizes, weight etc etc etc. 

I would deliver personally if you can - to ensure safe delivery and both of you are happy with the transaction. 

[the-layer-laboratory]

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@vintique*violet wrote:

I would deliver personally if you can

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This seems like bad advice. How would you counter a claim of INR?

[ile136yz]

Further to advice already given.

Your Sellers Rating is below 10, so funds will be on hold as a New or Infrequent Seller.

I would expect problems of at least 'not as described' case being opened, then you have to refund item value & postage also return postage. It may turn out a different item is returned to you.

[vintique*violet]

Video it, take photos etc etc... take a print out of the sales order for both of you to sign, to protect both parties. 

I have delivered items before if close enough, especially if fragile or of a higher value  without any issues. 

Trust, morals  and honesty is a huge part of platforms like this.  

Edit to add - it is the same with collection only... you need to protect yourself by taking steps that the item has been collected by the purchaser. If you have no paperwork or a video etc then where is the proof? Any genuine buyer will not mind at all and understand. 

[rjwilmsi]

Personally there is no way I would be selling a £2k item on eBay as a private seller of this kind - in demand consumer electronics are a scam magnet in my view. Far too much risk in a single item. A business that regularly sells £2k laptops is a different matter - risk is spread out and they may have access to a legal team to address fraud.

For such an expensive item, if proceeding with sale, I would be looking to use Royal Mail Special Delivery.

Compensation: the idea of courier loss compensation is to put you back where you were before.

For a business seller the reasoning goes that the seller can buy another one at wholesale cost from the manufacturer (and their buyer can repurchase), so the compensation limit is item cost to seller not full sale price to buyer.

For a private seller (who should not be selling for profit), to be put back where they were they need the cost of buying an equivalent replacement. They will be buying retail, so the cost of the replacement should be about what they sold their item for.

In this instance, the seller will be reselling for a profit, so I expect Royal Mail will deem it business activity so restrict their cover to purchase price.

[the-layer-laboratory]

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@vintique*violet wrote:

Video it, take photos etc etc... take a print out of the sales order for both of you to sign, to protect both parties. 

I have delivered items before if close enough, especially if fragile or of a higher value  without any issues. 

Trust, morals  and honesty is a huge part of platforms like this.  

Edit to add - it is the same with collection only... you need to protect yourself by taking steps that the item has been collected by the purchaser. If you have no paperwork or a video etc then where is the proof? Any genuine buyer will not mind at all and understand. 

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Trust, morals and honesty count for nothing.

What do you do once the INR case is opened? You literally cannot fight it, since you cannot prove delivery with valid tracking information.

[vintique*violet]

That is why you protect yourself as much as you can.

Even with postal services it is out of your control once in their system. 

List items  with full description... ( no flowery  A.I. ) use postage with tracking where applicable. 

I have mentioned other ways in previous responses ie buyer signs sales receipt, video, etc etc - personal collection and/or delivery counts on people being honest and with integrity. There may be some " scammers" out there and those who have no morals, but we shouldn't tar everyone with the same brush.

 " trust , morals and honesty count for nothing"... They absolutely do  count especially to those who have integrity.