Selling goods through the online marketplace has been quite successful for many people. The Internet opens up a larger pool of interested buyers, and allows for a seller to sell off individual items instead of having to have a garage sale, or go to a pawn shop. However, just like with any transaction, there are pitfalls to selling goods online.
1. The Buyer Doesn’t Pay
Most sellers will require that a good is paid for before delivery, or on delivery. What about when you simply ship a good and cannot be there to accept payment upon delivery, or if the buyer doesn’t have a paypal account. If you take that risk of not getting your money upfront, you might not get it at all.
2. Buyer Returns The Item
While most sales are deemed as is, some buyers might try to return the good, or claim that it wasn’t what was advertised. In these cases, you can either accept the item back and give a refund, or you could risk an upset buyer taking you all the way to court in the worst case scenario.
3. Buyer Doesn’t Complete The Deal
It can take longer to do a deal online than through other methods. You have to e-mail back and forth a few times, arrange a test of the product in some situations and you have to arrange a meeting time to do the deal. Well, what happens when the buyer doesn’t show up for a scheduled test drive for a car, or to finalize the deal? It could mean wasted time hauling heavy items around.
4. You Don’t Know Your Buyer
The only information you have on your buyer is an email address, perhaps some buyer feedback from past sales and maybe a first name. This can open you up to fraud and other issues that you wouldn’t have if you were dealing with a store, or with a buyer you already know. You have to be aware of who you are really dealing with at all times.
5. A Buyer May Not Meet Your Price
You never know when you will get the asking price for a product. An ad could say that the price is firm, but buyers want value online. Most likely, you will have to take the best deal you can find when selling online.