Rank

Boys, your advice is like Valium, my blood pressure is coming down. You are are absolutely right, I was very clear about the Conditions of Sale, if bidder #1 doesn't want to follow through with what he agreed to then bidder#2 is up at bat.

21 minutes ago, Simon da Silva said:

I would recommend you selling it to Denmark

Simon da Silva is bidder #2, of course he wants me to sell to him, that's a good one Simon I certainly hope it goes that way.

Chris

 

I agree with the others. If the buyer won't supply the deposit through PayPal then I would move on. PayPal protects both parties and documents the transaction really well. If he doesn't know how to use PayPal he needs to ask a friend or a Gen X'er for help...

If you go with a foreign sale, keep in mind that our fellow member Blue has good experience in this space.  Consider contacting him if you need guidance or advice.

Blue is incommunicado these days, apparently taking a internet free sabbatical.  Hopefully he will come back to us.

I bought a car on eBay a couple of years ago. Paid the deposit ASAP and then the price in full after getting in touch with the seller. Had the car shipped from Florida and the paperwork mailed to me using USPS Certified (or Priority, don't remember).

Edited May 2, 20168 yr by LeonV

I would suggest looking into an escrow service to handle the overseas transaction.

http://pages.ebay.com/help/pay/escrow.html

I'm sure there is a fee involved, but both parties would be protected and have peace of mind.

12 hours ago, jonathanrussell said:

I would say....relax. You are the one in control. You are the one with the asset. I don't intend this as a criticism but it feels a bit like the buyer is taking control over the transaction. Just put an end to it by telling the buyer exactly what you require in order to complete the transaction and if the buyer walks, then fine; move on to Denmark. If you require paypal then require paypal. If you want full payment before you execute a bill of sale and / or sign over title and registration then tell him that's how it is. And, the deposit is required in order for you to continue with any steps in the transaction- no bill of sale or signing over of titles or registration should happen in the deposit phase.  

Just my opinion. I wish you the best of luck and congratulations on your auction price.

 

GREAT post!  Reckon sometimes we catch ourselves missing the forest for the trees, and your post was a good reminder to take a step back and see the bigger picture.  

10 hours ago, grannyknot said:

Blue is incommunicado these days, apparently taking a internet free sabbatical.  Hopefully he will come back to us.

I think that Blue's input would be valuable to both you and Buyer #2.  One of the members here ('George' from NB?) has Blue's telno in NS, I believe.  If not, go the the Atlantic Z-Car club's website and ask there. 

Just remember that, other than the sea shipment part, there's really no difference (from your perspective) between selling to a buyer in the USA vs. selling to a buyer in Europe.  Your obligations to a buyer (foreign or domestic) re shipment end at your driveway.  The shipment, whether by truck or by truck/ship is the buyer's problem.  Same goes for the paperwork, shipping insurance, brokerage fees, inspections, duties, and taxes that are imposed at the dock and at the border.

I agree with the others that you need your terms met by Buyer #1 and you are perfectly entitled to move on to Buyer #2 if they aren't met within a reasonable period of time.  'Reasonable period of time' is subjective, but I think that 2 business days would be appropriate here, given that you risk losing Buyer #2 if you give Buyer #1 too much time to stall.  I'm not an eBay expert, but don't see how they can interfere with your rights as the owner of a piece of property that you've offered for sale with stated conditions.

My two cents.

Here's Blue's friend George, Dr. 240Z, if you want to message him,  http://www.classiczcars.com/profile/27035-dr-240z/?tab=activity

About Dr. 240Z

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• Birthday12/23/1950

Profile Information

• LocationNew Brunswick Canada
• Real NameGeorge Findlay
• OccupationDentist (Retired)
• About My CarsHLS3018859 (red, std): Purchased on May 11, '71 inKitimat.BC. My first car. Recently refurbished with many thanks to CZCC member, 'Blue', without whose wisdom, resourcefulness and fortitude it would not be what is today.

Now you know where the 98.5% came from.  Escrow was the word I was trying to think of when I suggested using an agent.  

As far as US versus Europe, I think it's easier to sue somebody in the US.  But a good escrow transaction makes that unnecessary.  The deal's not complete until both parties are satisfied.  It unwinds if conditions can't be met.

4 minutes ago, Zed Head said:

Now you know where the 98.5% came from.  Escrow was the word I was trying to think of when I suggested using an agent.  

As far as US versus Europe, I think it's easier to sue somebody in the US.  But a good escrow transaction makes that unnecessary.  The deal's not complete until both parties are satisfied.  It unwinds if conditions can't be met.

When I worked for an engineering company that was engaged as prime contractor in turnkey design-and-supply projects for overseas clients, we would use a banking vehicle known as an irrevocable letter of credit, 'ILC' to manage client payments.  An ILC assures both buyer and seller that: a) the buyer's money is definitely in place with the banker and can't move out of the bank's control (in either direction) until certain conditions are met, and; b. the buyer's money can't move from banker to seller until certain paperwork certifying delivery of the item-for-sale to a shipper/expediter in the seller's country has been produced to the satisfaction of the banker or its agent.  There is, of course, a fee exacted by the bank for this service. 

The escrow service referred to by Zed Head probably works in exactly the same way, but using a commercial escrow agent rather than a bank as the middleman. A large shipper might offer exactly such a service.

Why not talk to a local commercial banking specialist? (prob. available in Barrie, definitely available in Vaughan, Concord or Newmarket).

Congrats on the sale of your Z!  $19K+ is good number, especially since Z's seem to be coming out of the wood work now.  I can add in another option here if the deposit and escrow do not work out for you.  A few years ago I sold a Karmann Ghia convertible to a buyer in Germany.  He was working with an international shipping company that basically took care of everything from paying for the car, picking it up, getting it to port, and getting it on the boat.  The buyer was actually a dealer so that may have helped but basically the shipping company guy showed up with a truck and trailer along with an envelope of cash.  He did not do Paypal either and felt the shipper could make it to my house fast enough and did not want the hassle of two payments to me for the deposit and the balance.  I had no problem with this as I was not under any time commitment to sell and did not have #2 buyer waiting.  The shipper guy was knowledgeable of VW's and based on the info the seller provided him about the car he felt it looked good and handed me the cash.  After a quick counting I signed the title and handed over the keys.  Find out from the guy in Denmark who he plans to use. I am in agreement with the others, the winning bidder has not met the terms of the auction.  Now that 48 hours has passed, time to move to the buyer in Denmark.  If he is willing to pay the deposit I believe he is the true buyer of your Z.  Good luck with it and keep us posted.