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Thread: Looking for project even not running

  1. #41
    Senior Member
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    Quote Originally Posted by Citizen View Post
    Sorry to ask this question, but I don't understand how the scam works. If a distant buyer says he's going to wire the money, and does so, then you deliver the car. If he doesn't wire the money in a day or so, you simply don't deliver the car, and sell it to the next local bidder in line. Or am I missing something ???

    ...

    Even if there wasn't a scam in play, sellers might not want to bother with the extra steps of an overseas transaction. To Nick's point; if people are lined up [with cash] locally, why deal with a transaction that has more moving parts?

  2. #42
    Senior Member Bitsyncmaster's Avatar
    Join Date:  May 2011

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    Quote Originally Posted by Rich_NYS View Post
    Even if there wasn't a scam in play, sellers might not want to bother with the extra steps of an overseas transaction. To Nick's point; if people are lined up [with cash] locally, why deal with a transaction that has more moving parts?
    I had to pay cash 14 years ago. That was when counterfeit bank checks were showing up. I would only accept cash from an unknown buyer.

    Beside that, the seller may need a cash deal to prevent any gain taxes.
    Dave M vin 03572
    http://dm-eng.weebly.com/

  3. #43
    Delorean Guru
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    Wire transactions are very safe. No seller should accept personal checks EVER! Bank checks are a real problem, it is difficult to tell if it is counterfeit. Best way to handle them is to take it to the bank that issued it and ask for cash. If that is not possible or convenient, cash is always good but it too can be counterfeit. That's why a wire transfer is the safest method. They are not without cost to the seller AND the buyer and can't be done on holidays or weekends or nights. Using an agent to act as escrow is also safe but everyone is right, why would a seller want a complicated deal when he can do a simple quick deal? Often the first person to show up with cash and a trailer gets the deal.
    David Teitelbaum

  4. #44
    EFI'd dn010's Avatar
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    I used to sell restored classics all the time overseas, many a year. Only took wire and handled the prep and transport to the port myself for a small fee. Overseas buyers were never a pain in the ass like locals, always willing to pay up - no kicking tires fighting for every penny they could save, always polite. I was always told it was so much cheaper to buy from the US and ship than find a classic in Belgium for example where it might cost many times more. Anyway, that was years ago and never had a single complaint or negative experience other than a dead battery upon arrival at the port to get the car off the trailer. As time went on it seems like more rules, more regulations and more fees which made overseas buyers less willing to spend the money. More of a chore with paperwork, prep work, etc. In my opinion with all the changes over the years, it is now easier to just deal with the tire kickers than everything else with an overseas purchase. If you're worried about being paid in counterfeit cash, get the marker.
    Last edited by dn010; 10-28-2020 at 08:34 PM.
    -----Dan B.

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