Escrow service just for TB Members

Discussion in 'Miscellaneous [BG]' started by remo, Dec 22, 2005.

  1. remo


    Jan 15, 2005
    I see lots of good stuff I would like to buy on TB but more often than not the US based seller doesn't want to ship internationally which is completely his/her prerogative. I was wondering if there was a way we could setup a TB member ONLY escrow service that would allow US shippers a safe and hassle free way to sell internationally and vice versa..

    I know there are quite a few TB affiliated bass stores who should definitely consider offering an escrow service to all TB’ers. They would obviously charge a fee for their involvement, usually a percentage of the price (capped at different levels).

    I would personally be happy to pay and extra %2 or so for the piece of mind that I will definitely get my bass. The Escrow Agent will obviously have to be someone very trustworthy, honest and organized.

    For those who are not familiar with an escrow service here is a rundown of my plan:

    1. Buyer and Seller Agree to Terms.

    Both parties agree to terms of the transaction, which includes an exact description of the merchandise, sale price, number of days for the Escrow Agent’s inspection, and any shipping information.

    2. Buyer Pays Escrow Agent

    The Buyer submits agreed amount plus escrow fee to Escrow Agent. Escrow agent then contacts Seller and tells them they have the money.

    3. Seller Ships Merchandise to Escrow Agent.

    Upon payment verification, the Seller is authorized to ship merchandise and submit tracking information. Escrow Agent receives goods, verifies condition is exactly as stated in initial agreement. Escrow agent confirms goods condition with Buyer and forwards payment to seller.

    4. Escrow Agent Ships Item to Buyer.

    The Escrow Agent then safely packs and ships the item to the buyer (submitting all tracking information, waybills etc).

    5. Buyer gets Item.

    And it happy knowing the item will arrive as described

    This is just an idea and I’d love some feedback on any way to improve the method or any problems that could arise..
  2. tplyons


    Apr 6, 2003
    Madison, NJ
    I don't quite think there'd ever be a TB ONLY Escrow service. That would take too much involvement on Paul's part, which would take away from this wonderful site.
  3. Phil Smith

    Phil Smith Mr Sumisu 2 U

    May 30, 2000
    Peoples Republic of Brooklyn
    Creator of: iGigBook for Android/iOS
    Shipping international is a hassle, shipping domestic is a hassle. I imagine most members would prefer local deals which makes things a lot easier as you can try before you buy. The transaction is quick and doesn't require as much work as shipping.
  4. paintandsk8

    paintandsk8 Pushin' my soul through the wire...

    May 12, 2003
    West Lafayette, IN
    That's easy for someone in brooklyn to say, but there's not much of a market for mid to high-end bass gear in rural Indiana. At least 3 of my TB transactions have been international. I personally would rather just deal directly with the buyer than go through the extra hassle and fees of an escrow agent. Currency isn't really an issue with services like paypal and there is a minimal amount of extra paperwork/requirements when shipping. I guess I never understood peoples reasoning for absolutely refusing to work with international buyers in the first place.
  5. bassmonkeee

    bassmonkeee Supporting Member

    Sep 13, 2000
    Decatur, GA
    Paul wants/needs nothing to do with the hassle of overseeing sales of instruments. It's a private sale between two parties--if Paul wanted to sell basses, he would. If you aren't comfortable doing it, though cookies. Deal with a store, and hope they have what you want.
  6. remo


    Jan 15, 2005
    I didn't mean this as Paul being the Escrow Agent.. I was suggesting one of the affiliated stores..