Can anyone spot a scam?

[ADF]

Hi all,
Just had a message asking to buy my boat which listed on eBay. The buyer wants to pay in installments by PayPal or bank transfer which he says is due to his wage. He will then collect the boat in a couple of months one fully paid for.
Can anyone spot a scam going on here, seems a little strange to me.
Thanks all!

 

[superheat6k]

Beware of the scam where the buyer pays by Paypal then collects the goods, for which you have no valid proof of delivery (valid as will be acceptable to Paypal / Ebay), then he raises a dispute claiming the goods were not received. Paypal reclaim the funds so you are now out of pocket and boat / equipment gone.

Insist on non Paypal. Offering you Paypal or Bank transfer may be to encourage you along then he will opt for Paypal, and you will be glad to have it.

If he hasn't seen the boat then rename the boat Scamster and send him a photo showing this !

If it sounds to good to be true it probably is.

Also be aware with a bank transfer you are giving him your bank details, so a separate savings account not used for anything else will at least isolate this from your main account/s. Not an easy one I appreciate. I would suggest you will only sell it on this basis after cleared funds are received, which excludes Paypal.

 

[lanerboy]

if he pays you via bank transfer there is no way he can reclaim the money so I would presume that's a safer way but do not except paypal, but then paypal only covers a buyer up to £500 I think but I stand to be corrected

 

[Beamishken]

The PayPal scam is well documented here so I won't ad anything to that
There was a scam doing the rounds a few years ago where you received a payment from a foreign bank (nigerian).Then you rang your bank to ask if it's cleared they'd say yes its cleared you then release the item only to find that the money isn't actually 'safe' as some banks take a long time to actually clear funds
Two weeks after you release the goods the money is taken out of your account
This was on the go about 10 years ago but your offer sounds a little like a reincarnation of the same scam
I don't know if the banking system has changed to prevent it now but I'd be very wary
Regarding giving your bank details out you used to give your account no & sort code out every time you wrote a cheque
If in doubt pictures of the Queen work well

 

[Cashbuyer]

Hi all,
Just had a message asking to buy my boat which listed on eBay. The buyer wants to pay in installments by PayPal or bank transfer which he says is due to his wage. He will then collect the boat in a couple of months one fully paid for.
Can anyone spot a scam going on here, seems a little strange to me.
Thanks all!

There is reason why you are asking the question - because you have doubts. Listen to your head and do not get involved with this. Another buyer will pop up soon enough.

 

[SolentPhill]

Open a bank account in your name give the guy the details, get him to pay into that account, if you see money then it should be ok, when all money in transfer to your normal account and release boat

 

[landlockedpirate]

The Paypal grab back doesnt include boats. So the buyer cant claim he hasnt recieved the item just because you havent got a post reciept for a 30 ft'er !

That doesnt mean its not a scam though.

 

[longjohnsilver]

Pay by instalments?! Tell him to save the money and then once all the funds are in place turn up with the readies and pay you.

Keep the boat on the market, I don't expect you'll hear anything more from him. As others have said, don't accept PayPal.

 

[SEARANGER ANCASTER]

Hi all,
Just had a message asking to buy my boat which listed on eBay. The buyer wants to pay in installments by PayPal or bank transfer which he says is due to his wage. He will then collect the boat in a couple of months one fully paid for.
Can anyone spot a scam going on here, seems a little strange to me.
Thanks all!

Plenty of scams out there but if the buyer pays you installments by BANK TRANSFER , it is totally safe.

 

[Spi D]

What contract between you is being entered?
Surely the buyer would like some security as not to save up on your account with no proof of right whatsoever?

Sounds Nigerian...

 

[Oscar24]

There is reason why you are asking the question - because you have doubts. Listen to your head and do not get involved with this. Another buyer will pop up soon enough.

+1

The buyer 'may' be genuine but why take the risk?

Theres always another punter...........

 

[Hypocacculus]

Why would you "sell" the boat to somebody who clearly hasn't got the money? He might be totally honest but you have to wonder about him trying to buy a boat without being able to pay for it.

I'd gently suggest he returns in a month if the boat hasn't sold. You could even offer him a slight discount to keep him sweet, just in case he is bona fide.

 

[gsturgeon]

I sold a MGA Twin Cam (£240 ouch!) many years ago for a deposit plus installments. Got some of them....

 

[Chris_d]

I paid for my boat with 3 bank transfers as I moved money around myself, took a couple of weeks then collected the boat.
I assume he wants to see it first mind, someone buying unseen always rings alarm bells unless it is something fairly new and rare that will
sell quickly anyway.

 

[julians]

I had a similar request when I was trying to sell my boat. I just said he should save his money up , then come back to me when he has the full amount.

He never came back to me, and I sold the boat to someone else .

 

[ADF]

The buyer has changed his tact now, and is offering a quarter of the money upfront as a deposit, then the rest as cash when he collects the boat. I can see no problem with this as long as the cash is real

 

[jimmy_the_builder]

The buyer has changed his tact now, and is offering a quarter of the money upfront as a deposit, then the rest as cash when he collects the boat. I can see no problem with this as long as the cash is real

Go with him to the bank and let them check it for you while you pay it in. Expect some extra questions from the bank if it is more than £5k. Once all is good, sign the BoS and give him the keys! Best of luck.

 

[ontheplane]

Don't release boat until cash has been checked and paid into bank.

Don't accept the cash on a weekend - do it early in the day on a banking day, go with him to the bank and pay it in.

 

[superheat6k]

The buyer has changed his tact now, and is offering a quarter of the money upfront as a deposit, then the rest as cash when he collects the boat. I can see no problem with this as long as the cash is real

This is what the RYA standard form of purchase is designed for. Of course all the time you have his money (deposit) if he does turn out to be a con man you are unable to offer it elsewhere whilst you find out

I would suggest you offer a formal contract he has to sign up to, which also sets out when he must pay, and if he doesn't have the funds now then suggest he comes back when he does.

You haven't eluded to how much cash is being discussed. If its above £10,000 then you will need to be very careful not to contravene the complex money laundering rules.

I am sure all on here appreciate you want to sell your boat, but why can't this chap follow what is the expected method.

If you are not a member of the RYA well worth paying their fee to join then you can run all this past their lawyers for free.

 

[jimmy_the_builder]

If its above £10,000 then you will need to be very careful not to contravene the complex money laundering rules.

Surely all the OP has to do is provide evidence to support the fact that the cash is the proceeds of his boat sale, no? Last time I sold a motorbike the guy gave me £12500 in cash, I paid it in at Barclays, they said 'where's this from', I said 'I sold a motorbike'... and that was it.