How to sell an expensive camera...

<p>I have a Canon 5D Mark iii right now, and want to sell it and buy a 7D Mark ii. Because this is going to be sold for a few thousand dollars, how would you recommend I go about conducting the sale? I have researched possibly selling it to a company like KEH (I am in Atlanta so it's local), but they offered way too less than I'd accept (as expected).</p>

<p>Primarily, I'm concerned about my safety, and how I can go about accepting payment of around $2,500. Would a bank allow me to do a transaction there, where the person could get a certified check to pay me, or is that a bad idea? I've never dealt with private sale in this price range before.</p>

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<p>Would a bank allow me to do a transaction there . . . ?</p>

</blockquote>

<p>Sure, your bank is supposed to serve you. I've done the same thing with used cars bought from a private party, with the additional step of going over to the DMV to make sure the title was clean.</p>

<p>Beware of the certified check scam - http://banking.about.com/od/securityandsafety/a/cashierscheckfd.htm Just because a bank accepts a certified check does not mean it has cleared and does not guarantee payment.</p>

<p>Postal money orders are usually OK, but they too can be faked. Since you're dealing with the Feds, people may be more hesitant to try to pull that scam. See https://www.usps.com/shop/accepting-money-orders.htm</p>

<p>I'd talk with the buyer on the phone, make sure the phone number (landline only) corresponded to the shipping address. Call the buyer at his/her workplace to have a second contact point. Check out that phone number too. That's what I did when I made a large purchase over the internet. Worked out fine, though I was the buyer not the seller.</p>

<p>I'm not sure if you get additional protection if you sell via eBay. I know there's some nominal buyer protection, but I don't know about sellers. There are also escrow services out there, but they charge commission of course. There's always Craigslist and a cash sale of course. In a large town like Atlanta that may be an option.</p>

<p>See also http://www.bobatkins.com/photography/tutorials/used.html for a few more tips</p>

<p>Why not use PayPal?</p>

<p>See http://en.wikipedia.org/wiki/Internet_fraud</p>

<p>If someone makes an electronic transfer into your bank account, I'm not sure there's any way you can be ripped off (as long as the financial transfer is made before you hand over the camera). This is pretty straightforward in the Eurozone. I'm sure US banks are not lagging behind. However, this requirement can be a turn-off for buyers - they equally don't want to get ripped off.</p><p>What about trading the camera in at B&H or similar? Maybe the less-than-optimal trade-in price is made up for by the lower risk/hassle?</p>

<p>Or, since you are in a large city, you could probably get an acceptable selling price by advertising the camera locally and insisting that the sale is cash-only and collection-in-person. Arrange to meet the buyer somewhere and exchange camera for cash. (As long as you can distinguish counterfeit banknotes from genuine!)</p>

<p>Wow I appreciate everyone's feedback so quick!<br>

<br />A couple notes:</p>

<ul>

<li>I live in Atlanta and have had the camera priced at KEH, and I'm just not as willing to sell for what they are wanting to offer...</li>

<li>I bank through USAA, so I don't have a local bank to go to, but found out that Bank of America will offer a room if reserved for private transactions for a minimal fee, which I will probably use</li>

<li>I don't want to use Paypal because of the transaction fees...</li>

<li>I am going to end up with a bank regardless, this way I can turn around and turn cash into a cashier's check and verify the cash is good</li>

</ul>

<p><br />Thanks! And if anyone in ATL wants a good deal on a 5d3 w/battery grip shoot me a PM! :)</p>

<p>Paypal - I would have thought it would be worth the small sum for the piece of mind in this case (I calculate about $70). May be less that the B of A room. Certainly less aggravation.</p>

How about cash only?<br>When in a bank, the buyer can pay cash into your account. The teller (happens to be Dutch for 'counter') can check for fakes and make sure it is put away safely.

<p>I have bought and sold a few items on Craig's list although nothing quite that expensive. I always insist on a cash transaction only (no checks or money orders) and meet in the lobby of the local police station. Some of the local police station here in south Florida actually encourage this. There are usually security cameras there too to id any bad guys just in case----Jerry </p>

Try qualitycameracompany.com instead of KEH. Quality Camera Co. Is also in Atlanta, near Atlantic Station.they are much better to deal with as a seller or consigner. You might also try trading it in for the 7D Mk. II at Showcase.

<p>If you sell it to a retailer such as keh, they have to make money.</p>

<p>ergo, they will buy it for far less than they hope to sell it for. </p>

<p>ergo... why not try the classifieds here at photo.net? I've bought and sold successfully there plenty of times. Always did paypal, never been scammed. I've also used paypal dozens of times on musical instrument transactions through a guitar gear site and never had a bad deal there, either. I have also had AMAZING success buying and selling used on Amazon, and the fees are pretty reasonable.</p>

<p>I've been buying and selling pro-level gear on eBay for years without any incident at all. PayPal gives you good protection as does eBay. In your listing, specify that buyers with fewer than x number of transactions need not apply, which will enable you to take some comfort in feedback ratings of potential buyers. In the past five years, I've had about six sales in excess of $1500 and have made purchases right around $2000 from other pros and have been very happy with the results.</p>

<p>Please note that these are my experiences, and others may differ. You have to do what you're comfortable with. Once you have an ebay account, you can search the completed listings for your camera and see exactly what they have been selling for -- $699 to $5100 in your case.</p>

<p>If you don't ship it until you have the money, I don't see the problem. I have sold items approaching $2,000 on eBay before and accepted payment from PayPal. When I have completed transferring everything from my PayPal account to my own checking account for such large orders, then and only then do I ship. For lesser amounts, I will ship as soon as I get word from PayPal that the money has been received. Waiting for transfer is probably being over-cautious, but I want to be sure I have the money before I ship an expensive item. </p>

<p>I have had absolutely no problems with PayPal. You can negotiate who pays the PayPal fees. Typically, if I am selling them (and through eBay at that), I pay them. </p>

<p>--Lannie</p>

<p>KEH is great to buy from, not good at all to sell to. They buy low and sell high, as do all businesses.</p>

<p>--Lannie</p>

<p>I think you're overthinking this. If you use Paypal, just calculate what the transaction fee is and set your price that much higher.<br>

Other than dealing with people I know personally, most of my transactions have been over eBay. When selling, the check clears before I ship, or if Pay Pal the payment has been made into my Pay Pal account AND transferred out to my bank account before I ship. Never had a problem.<br>

If you use cash and an in-person transaction, I wouldn't meet in a dark alley but going to a bank sounds a bit overboard to me. You should know from talking to the buyer whether they are a photographer or not. The average crook who's going to try to pass counterfeit bills or knock you in the head etc. isn't likely to go to the trouble of looking through camera ads and setting up meetings. Although it does sound like a good episode for a cop show. :)</p>

<p>If you are looking for a bullet-proof solution...there isn't one. If you look hard enough, you will find that there is a way to fake or defraud in just about every scenario. That said, I would use Paypal for payment, and the USPS for shipping.</p>

Sell it on eBay. That's what I've always done and so long as you use your common sense it's probably the least risky

method.

<p>If you are in a city just put it on Craigslist at about 80% of what you think it's worth and it will sell right away. Cash is king.</p>

<p>Seems that on Amazon, used ones are between about $2500 and $2700 or so.<br>

You can't get much outside that range, with so many other choices. </p>

 

<p>PayPal is remarkably safe on eBay--but don't deal with anyone without checking their feedback ratings.</p>

<p>--Lannie</p>

<p>Over the years I have sold many expensive cameras, and I have always used Paypal. It's worth it for the service they provide. I also use ebay, and it's worth it for the services they provide. Sure, I have to pay fees, but again, they are providing a service. You will never get top dollar selling to a reseller -- they have to make a profit, and as technology marches on, owners often overrate the value of a camera. I look at the value this way -- you may want $2700 for the camera, but would you pay that much if you wanted to buy it? If the answer is no, then your expectations are too high. Look at the completed auctions on ebay, and that will give you an idea of what it would sell for on ebay. <br>

Of course, if you have never sold on ebay, then people might not want to bid, since feedback scores are usually a good indicator of a seller's reliability and the more transactions, the better your chance of getting bids. While a private sale by advertising on CraigsList or some other means may give you a local bidder, you also have to be able to meet the buyers -- they won't buy unless they can see the camera in person, and make sure THEY are not getting scammed. So, it works both ways. Therefore, it's up to you to figure out what your easiest course of action is -- a guaranteed payment from a reseller, a trade-in allowance, or an outright sale. Selling by consignment is another way, but the price will be about -30% to the store that sells that way.</p>