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What GOTCHAS with selling overseas?

Discussion in 'Miscellaneous [BG]' started by slombovia, Dec 6, 2004.


  1. slombovia

    slombovia

    Jul 15, 2003
    Utah
    I am a determined follower of Jesus Christ and am a Mormon.
    What are the difficulties and potential pitfalls of selling / buying used gear overseas?

    Thanks,
    Tom H.
     
  2. lethargytartare

    lethargytartare

    Sep 7, 2004
    Chicago
    The biggest pitfall when buying from an overseas seller is currency exchange. If the seller doesn't use PayPal, and insists on their currency, you can take a big hit on exchange rates and fees.

    And of course accountability. If you send money overseas and get nothing in return, enforcement is kinda tough. You can use an escrow service if you're nervous (see escrow.com as an example). Escrow is where you use a third party to hold the money until the sale is completed satisfactorily.

    As a seller, it's common for those hassles to fall on the buyer, so you're pretty safe there. But when shipping something overseas, you have to fill out some extra forms, like the customs declaration. The buyer might want you to put particular information on that form so it makes things easier for them, but I haven't run into that yet. Overseas sellers always mark the stuff they're sending me as "gift" -- I think that reduces the chance the item will be treated as commercial and thus get taxed extra?

    Cheers!

    ltt
     
  3. Bob Clayton

    Bob Clayton Moderator Staff Member Supporting Member

    Aug 14, 2001
    Deptford, NJ
    Misc.
     
  4. slombovia

    slombovia

    Jul 15, 2003
    Utah
    I am a determined follower of Jesus Christ and am a Mormon.
    ...and I have told him about my concerns. He is inexperienced with this as well. So anybody else have input?

    Thanks,
    Tom H. (in USA)
     
  5. Im a sock

    Im a sock

    Dec 23, 2002
    Central MA
    I sold a bass head to a guy in Germany a few years back. It made it a little easier because his bank cut a check to me in U.S. funds, so all the exchange stuff happened over there. However, the main problem was customs taxes and the like.

    Since I was the shipper, I didn't have problems, but apparently it took this guy about 2 weeks to get it through customs.

    Hope this helped.
     
  6. slombovia

    slombovia

    Jul 15, 2003
    Utah
    I am a determined follower of Jesus Christ and am a Mormon.
    Thanks!