i replied to the guy and told him i will only accept cash, hey presto, no more replies. Result

This is worrying, I dont think I will settle for anything other than cash when selling items of great value. I have only handled a few bankers drafts in my lifetime (34) and to be honest couldnt be sure if one was fake or not... Makes using a dealer for part ex seem very safe.

even if someone turns up with a bankers draft you should still not release your goods until it has been cleared by your bank.
Cash is KING

cash in my hand then walk straight to the bank, soon find out if it is fake, if ok let the bike go. if not knock the beans out of the theiving sod. or better still get the feds onto them.

Tim, it will be pound notes ill be handing over for the R. then there will be two happy faces.

[Edited on 3-1-2005 by adam]

There are always concerns over anything but cash, but even with cash, you have to check each note carefully.

I've attempted to eliminate and derisk as much as possible recently when I've recently bought and sold cars.

It can get a bit messy (and dangerous) with having to carry large amounts of cash around, but I got around this by contacting the branch of my bank that was local to where the car was and arranging for the branch to hold the right amount of cash for me.

Use the drive to the bank as a test drive and if you agree the deal, get the bank to issue the correct amount of cash, get the other party to agree this, sign the necessary documnets (V5, receipt etc) in the bank and then its sorted.

You don't have such great issues of carrying cash around, you know the cash is good etc, etc..... and the deal will be done in full view of the security cameras in the bank should there be any comeback!! - Sorted!!

Tim:frog:

Thats a really good idea Tim, makes us all feel better about this sort of thing.

I recently bought a car privately for a 5-figure sum, left the guy £100 deposit and he wanted rest by electronic transer, when money in his bank he released car. Good but what if he the fake, got my money and I got no car !!!

Andy

i have bought a car by wire transfering the money into the guys account while he was stood next to me. He then called his bank to confirm the money was there and then he handed over the keys etc. No worries on either part.

If you are accepting a bankers draft, ask for issuing banks tel number, get all numbers/details etc off the actual draft and ring the issuning branch and get them to confirm the details on the draft.
Do this before they turn up with it and check all the details on again when you actually see it!
just my 2p

I would only be happy with a bacs transfer, if they are genuine they will pay this way if you request it!

Just noticed this thread on scams and I'd like to make known my mate's experiences on eBay so (hopefully) no-one else will get caught out.

The idea is that PayPal is a safe, conveneient, way of doing business. It's convenient, but far from safe. My mate sold 2 things last year, a mobile phone (more like a mobile pc really than a phone, the one that flips open to reveal a keyboard) and a pair of concert tickets.

The phone - someone bought it and paid through PayPal. PayPal confirmed that the money had been paid and so matey sent the phone off. Some time later (several weeks) PayPal contact him saying that he owed them £300 because the buyer had paid using a stolen credit card. PayPal have no system for stopping this kind of fraud and so they chase the "easy target". They have no idea who the buyer really was now, so they are suing my mate for the money instead. Maybe they don't really stand a chance, but they are giving him grief anyway and he iwll ahve to defned himself in court.

On the concert tickets (worth £100 or so), he posted those and got a certificate of posting. No idea why he did not send them recorded delivery, I think I would have. Anyway, a couple of days before the concet date the buyer claimed that they had not arrived. PayPal INSTANTLY refunded him the money and then sent a claim to matey for the £100. The assumption was that the seller had ripped off the buyer, not considering the possibility that it was the other way around.

That's my 4 penneth worth anyway. :saint:

a mate of mine bought a rolex watch on ebay, he paid £2500.00 for it by going into his bank and transfering the money into the guys account. no watch arrived so he tryed to contact the seller but no luck he asked paypal to refund but they said no as it was a) over there limit and b) an unconfirmed address. so buggeritt he goes to five o. only to be told by plod that there was nothing they could do as he had "voluntarily paid the money into the guys account". !!! be carefull boys and girls. and while iam here does anyone wont a m reg 916 strada (single seat) with 5000 miles genuine. updated electrics. totally standard for £3000.00 if so call me on 07971 628450. chris

hows this one
 

A few years agao a mate of mine was selling his tv in the local paper. This bloke rand up and said he wanted to look at it so along he comes and said yes the tv looks great hed have it. Then he says the video player looks good was it for sale my mate said as he does everthings for sale so the chap says how about the sterio so he done the deal £300
The chap askes for a hand to carry the things to his car where his girl friend is sat. He says to her pay this chap £300 so out comes a wad of cash and she counts out £300 my mate couldnt believe his eyes there must of been about 5 grand in this wad.
The chap thanks him and drives off. NOW FOR THE FUNNY BIT.
My mate then think yipee lets go down the pub. so he and his girl go down the pub this was where i am.
He orders his drinks and one for me and gives the barman a £20.00 note the barman gives it a look and then checks it under a ultra violet lamp and low and behold its a fake. My mate cant belive it hes got another 14 of these. he some how bluffs his way out of this one and i give him some money for the drinks to keep the barman happy.
He was as sad as a pig all night knowing he had been conned, he admited his eyes were transfixed on all the dosh the girl in the car had and didnt think about checking it the money was real.