What is the best way to receive payment for a camera transaction?

[yves d]

I will be doing a one time transaction and was wondering what is the safest/cheapest way to receive a payment that is both fair to me and the buyer.

I have considered paypal and credit card payments through merchants.

 

[Mark Phelan]

Wire transfer.

 

[yves d]

Wire transfer.

but then the buyer wouldn't be protected

 

[Michael Flotron]

That's definitely the safest for the seller, especially for a high amount. In the real estate industry we generally only accept wires or cashier's checks. You can verify a Cashier's check's validity by calling the issuing bank if you feel like you need to.

For wires, most people don't usually know that most regular banks can do those for you. Some banks like Chase even let you do it from your account online. "Wire Transfer" doesn't immediately mean Western Union or Moneygram (which most people tend to associate with fraud).

 

[Andy White]

Maybe Escrow?

 

[Mark Phelan]

but then the buyer wouldn't be protected

I understand. But unless you're willing to meet face to face, there is going to have to be trust involved somewhere along the line. PayPal is outrageously expensive and one-sided, you as a seller can be scammed using it. I would NEVER use PayPal for a large transaction. Credit cards won't cover large amounts like a RED camera purchase unless the buyer has that high of a limit, which is unlikely.

There have been many, many stories here on REDUser about being snookered during the sale of equipment. Don't become a statistic. Your choice.

 

[Steve DiMaggio]

even face to face has it's issues, I would suggest escrow

steve

 

[Mark Phelan]

even face to face has it's issues, I would suggest escrow

steve

Unfortunately, you're correct. A freind's son was murdered when he was trying to sell a PlayStation via Craigslist. They shot him point blank over a stupid video game console.

http://www.ajc.com/news/memorial-se...ying-sell-playstation/TlDiuHYOw7hh2RTBF2N3jI/

http://www.ajc.com/news/crime--law/man-found-guilty-playstation-murder-case/WXBxQcuotQjPjwfPAGQOiI/