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What do I have to lose.........Bike sale to London(7 posts)

What do I have to lose.........Bike sale to Londonspacoli
Nov 30, 2003 4:03 PM
I have a bike sale in the works with a guy from London. This guy says he will send a cashiers check to me, wait for it to clear and then will send "his shippers" to pick up the bike to send it to him.

Here is the last two emails replies.

Let me know what you all think.


What I was trying to say was the first one to say that they will pay $1000.00(asking price), plus shipping can have the bike.

Sorry , I didn't mean to make it confusing.

I will have to receive the check and know it good before I ship.

If you not ok with this may I suggest, if you are familiar with this. If your not familiar with it is easy, fast and safe for me and you. It just gives both parties in the transaction peace of mind. Just a suggestion.

It should be ready to ship early next week.

I will have to see about shipping cost to London.
I know to ship within the US it around $50.00.

Let me know.


Yeah, Thanks for the reply, i am not confused at all, i will take to you that once you clear the check then you will do the delivery for my shippers, so can we proceed
Like i said before you dont have to worry about the shipping my shippers will do that once you give a go head, so let me have your contact information where the check could be sent
re: What do I have to lose.........Bike sale to Londondjg21
Nov 30, 2003 7:44 PM
This may very well be a SCAM! You must make sure that the check is a bona fide bank check before you allow the bike to be picked up. Even if the check "clears" it may still be a forgery, and the bank can recover any funds paid into your account later. Of course, by the time the bank figures out that's the check's bad, your bike is gone.

Call the issuing bank and confirm that the check is valid. Perhaps your bank can confirm the validity of the check!

Lastly, I'll bet that the "cashier's check" just happens to made out for an amount in excess of the sale price, and you are asked to pay the difference in cash to the "shippers."

My suggestion is that, rather than take the risk, you should propose using one of the Escrow services recommended by Ebay, and if the buyer opts out, forget the deal.
re: What do I have to lose.........Bike sale to Londonspacoli
Dec 1, 2003 3:56 AM
Nothing about excess cash was mentioned. I plan on holding the bike and the money untill I know the check has cleared. Even if it takes a month.
re: What do I have to lose.........Bike sale to Londondjg21
Dec 1, 2003 1:08 PM
Like I said, the check may appear to clear, funds may be deposited into your account, and only weeks later, when your bank finds out that the check was forged, will it seek to recover any funds paid into your account FROM YOU.

Your bank has every right to do this -- your recourse is as against the forger himself. Good luck recovering your bike or your money my friend! If you knowingly assume this risk, you will get precisely what you deserve!

At the very least, make an effort to contact the bank that supposedly issued the check to confirm that it is in fact legitimate.
re: What do I have to lose.........Bike sale to Londondjg21
Dec 1, 2003 4:32 PM
Here's some info regarding counterfeit cashiers checks cribbed liberally from the office of the Colorado Attorney General's Cosumer Protection Division:

In recent months there have been reports of counterfeit cashier's checks. The fake cashier's checks may appear to be authentic -- including the name of a legitimate United States bank and even containing the magnetic routing codes that appear along the bottom of the check.

This is how the typical cashier's check scam works. A seller is advertising a valuable item over the Internet. A "buyer," often from a foreign country, contacts the seller about purchasing the item and states that he plans to use a cashier's check issued from a bank in the United States. The buyer tells the seller that he either mistakenly sent too large a check, or that he will be sending a check for more than the purchase price. In either event, the seller is instructed to immediately wire the "balance" back to the buyer.

The unsuspecting seller then deposits the cashier's check in their bank account. Under federal banking law, the customer's bank is required to make those funds available to its customer on the first business day after the funds are deposited. So, the unwary seller is able to withdraw the "overpayment" [ed. The check "clears"] before the check winds its way back to the bank that supposedly issued it. That can take seven days, or even longer. Of course, after wiring the money back to the buyer, the scam artist is nowhere to be found.

[Pursuant to the Uniform Commercial Code's provisions on commercial paper, which have been adopted by most states], the consumer -- not the bank -- is responsible for counterfeited funds they deposit into their account. That is because, under the [UCC], a consumer depositing a check into their account makes certain warranties to the bank regarding the authenticity of that check. If the check is ultimately dishonored, the seller becomes obligated to pay the amount due on the check. The bank whose name appears on the counterfeit check has no responsibility to honor it.

In order to avoid becoming a victim of this scam, whenever you are offered a cashier's check:

• Never accept a cashier's check for an amount greater than the purchase price.

• Call the bank that issued the cashier's check when you receive it. Do not rely on the phone number that the buyer gives you. Locate the bank's number from a reliable source, such as a phone book.

• When calling a bank, verify the following information: the check number, the name of the person to whom the check was issued, and the amount of the check.

• Be sure to wait until you can verify the authenticity of the check prior to giving the buyer the goods. Sometimes these "buyers" wait to give the seller a check on the weekend or when banks are closed, and the check cannot be verified right away.
Thanks for the info I think I will pass on the cashiers chk dealspacoli
Dec 1, 2003 5:43 PM
What is the safest way to sell overseas?
re: What do I have to lose.........Bike sale to Londonhudsonite
Dec 1, 2003 7:15 PM
It does not look good to me. If he was legit he could use paypal and let you ship the bike. But the best way to send money between countries is a wire transfer. It takes 24/48 hours and it is done. There is no risk to you.

The reason they want to pick it up is so that you do not see where it is going. Rule one of online shipping, know where the package is going and make sure it is going to the same address as the credit cards/cheque...

Also, the english language in the e-mail sounds broken to me. Most brits can write pretty well. It almost sounds like the person cannot write english. Another hint that things are not what they appear.

If you still want to go ahead, call him in England. At least you will know he actually lives there. Then have him fax you a copy of one his bills (telephone, utility). This will give some proof of name and address.