Preferred method of payment for Mega-Keys at a con...

[techvoodoo]

I'm curious as to what the preferred method of payment would be?

 

Would dealers rather $6k in cash?

 

Do they swipe a card?

 

Do any prefer you gift the funds via paypal on the spot?

 

Any help on this one?

 

 

Have you tried payment in the form of coke and hookers? If I were a high grade key dealer I'd be willing to negotiate.

[Gem_Mint]

I'm curious as to what the preferred method of payment would be?

 

Would dealers rather $6k in cash?

 

Do they swipe a card?

 

Do any prefer you gift the funds via paypal on the spot?

 

Any help on this one?

 

 

Have you tried payment in the form of coke and hookers? If I were a high grade key dealer I'd be willing to negotiate.

 

Only with a partial trade.

[Filter81]

I'm curious as to what the preferred method of payment would be?

 

Would dealers rather $6k in cash?

 

Do they swipe a card?

 

Do any prefer you gift the funds via paypal on the spot?

 

Any help on this one?

 

As a dealer at a show, when selling a big book i would always rather prefer:

 

1) Cash. (Cash talks, and usually gets the best deal)

 

2) Check. (but if I don't know you, the book doesn't ship until the check clears)

 

3) Paypal/Paypal Personal on the spot.

 

4) Bank Wire

 

5) Credit Cards. (Personally I hate taking credit cards at a con. Between having problems at the larger shows getting a signal for the credit card machine to work to worrying about chargebacks after the fact. I never let the customer see it but I groan on the inside when I have to take a credit card at a convention)

[Tony S]

Having brought a five figure sum to a show once when shopping for a key book, I will offer this. I have seen a few smash and grabs on the subway and the Long Island Railroad. As a pedestrian commuter on public transportation, I probably see more than what you would see driving. I have seen someone just walk up and punch someone in the face and grab their bag and run off the train. I have seen a mobile fun taken as someone was sitting by the entrance of the car and as the doors opened someone punched them, grabbed the device and ran off. Many would like to think they have their wits about them and know exactly what they would do, but by the time you are punched in the face and realize what is going on, the doors have shut and the train is already moving toward the next stop.

 

When I paid for a key, I had someone put their hand on my shoulder and try to look over it to see what I was paying for and how much I had. I was not cool with that and barked at the guy. The comic dealer allowed me to find space in his booth on the floor to sort everything out and make the transaction.

 

Everyone makes fun of the Ron Theda situation and him being walked to his car. Sorry, I don't fault him for that. Everyone saw him make a transaction for a five figure book and he was right to at least have a heightened sense of awareness of his surroundings. In my case, I had no reservations calling a friend who I knew was a couple blocks away from the Javits and meet up with me.

 

Now a days, I do not take anywhere near that with me to a show. At the most, maybe I take a thousand or two in cash in case there is something I see that is too good to pass off and I do keep an electronic device (iPad or iPhone) to make paypal transactions if I need a little backup.

 

Keep in mind though that as one major comic dealer once told me... "Cash is King"

 

Some good points here. (thumbs u

[Buzzetta]

Having brought a five figure sum to a show once when shopping for a key book, I will offer this. I have seen a few smash and grabs on the subway and the Long Island Railroad. As a pedestrian commuter on public transportation, I probably see more than what you would see driving. I have seen someone just walk up and punch someone in the face and grab their bag and run off the train. I have seen a mobile fun taken as someone was sitting by the entrance of the car and as the doors opened someone punched them, grabbed the device and ran off. Many would like to think they have their wits about them and know exactly what they would do, but by the time you are punched in the face and realize what is going on, the doors have shut and the train is already moving toward the next stop.

 

When I paid for a key, I had someone put their hand on my shoulder and try to look over it to see what I was paying for and how much I had. I was not cool with that and barked at the guy. The comic dealer allowed me to find space in his booth on the floor to sort everything out and make the transaction.

 

Everyone makes fun of the Ron Theda situation and him being walked to his car. Sorry, I don't fault him for that. Everyone saw him make a transaction for a five figure book and he was right to at least have a heightened sense of awareness of his surroundings. In my case, I had no reservations calling a friend who I knew was a couple blocks away from the Javits and meet up with me.

 

Now a days, I do not take anywhere near that with me to a show. At the most, maybe I take a thousand or two in cash in case there is something I see that is too good to pass off and I do keep an electronic device (iPad or iPhone) to make paypal transactions if I need a little backup.

 

Keep in mind though that as one major comic dealer once told me... "Cash is King"

 

Some good points here. (thumbs u

 

pardon some of the obvious typos. Apple/Siri Autocorrect has a mind of her own.

[kav]

Cash is the WIZ

[Monster's Lair Comics]

I just paid over $2k this weekend on a book, but had my brother there to watch over my shoulder when I counted out money. If it would have been more, I would have asked to come behind the table to complete the deal. When selling at a show, I prefer cash. I don't sell many high dollar books, but when you put together a larger deal, method of payment is usually question #1.

 

As far as the "key" question goes, usually I would choose an auction house or comic auction (clink, or heritage, ect). I was going to go that route, but found the book I was looking for at the price I was looking for, and popped on it. With the auction house, they do debit/credit, and it's insured to your house.

 

 

[oakman29]

I only bring cash to a con.I love counting out one hundred dollar bills.

[Amadeus Arkham]

Just remember...if someone pays you with a check or Paypal...you have to pay tax on it.

[ChicksCosmiComics]

Having brought a five figure sum to a show once when shopping for a key book, I will offer this. I have seen a few smash and grabs on the subway and the Long Island Railroad. As a pedestrian commuter on public transportation, I probably see more than what you would see driving. I have seen someone just walk up and punch someone in the face and grab their bag and run off the train. I have seen a mobile fun taken as someone was sitting by the entrance of the car and as the doors opened someone punched them, grabbed the device and ran off. Many would like to think they have their wits about them and know exactly what they would do, but by the time you are punched in the face and realize what is going on, the doors have shut and the train is already moving toward the next stop.

 

When I paid for a key, I had someone put their hand on my shoulder and try to look over it to see what I was paying for and how much I had. I was not cool with that and barked at the guy. The comic dealer allowed me to find space in his booth on the floor to sort everything out and make the transaction.

 

Everyone makes fun of the Ron Theda situation and him being walked to his car. Sorry, I don't fault him for that. Everyone saw him make a transaction for a five figure book and he was right to at least have a heightened sense of awareness of his surroundings. In my case, I had no reservations calling a friend who I knew was a couple blocks away from the Javits and meet up with me.

 

Now a days, I do not take anywhere near that with me to a show. At the most, maybe I take a thousand or two in cash in case there is something I see that is too good to pass off and I do keep an electronic device (iPad or iPhone) to make paypal transactions if I need a little backup.

 

Keep in mind though that as one major comic dealer once told me... "Cash is King"

 

one of my favorite lines brilliance from an unlikely source. " Everyone has a plan until they get punched in the face."

 

 

Mike Tyson

[Chip Cataldo]

Have you tried payment in the form of coke and hookers?

...so for Gator it would be Coke Zero and hookers?

 

 

Peace,

 

Chip

[Bomber-Bob]

I usually bring cash and one blank personal check to the convention. I don't recall ever using a credit card. I've never had a dealer scoff at cash, they usually smile. For safety, I usually meet up with Dr.X, then nobody will mess with me.

[romanheart]

As a buyer, I paid mostly with credit at a con. Fav method payment for me. I am sure any dealer prefers cash but the good ones know to accept cards. Only one dealer I really like hasn't switched from cash, but does take Paypal.

 

I never paid more than a $1k for anything at a con. Would never pay for one in cash if I decided to.

[kav]

I usually pay with these babies

[Sqeggs]

as the US Treasury explains on their website, “Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.”

 

Which is what I said. Some people are under the misapprehension that businesses have to accept currency because it's "legal tender," but that's not what legal tender means.

[Sqeggs]

I'm curious as to what the preferred method of payment would be?

 

Would dealers rather $6k in cash?

 

Do they swipe a card?

 

Do any prefer you gift the funds via paypal on the spot?

 

Any help on this one?

 

As mentioned earlier, cash is king.

 

When using PayPal personal, there is no concern for either party. If there's an extra cost to the buyer, I would consider taking that off of the purchase price. Speedy-D talking about no protection for the buyer doesn't make any sense. The buyer has the book and is walking away, what protection could he possibly need? If he's worried about his own safety, that has nothing to do with the method of payment after he's paid.

 

Now, if it isn't PayPal personal, then the dealer has a lot to worry about. The buyer pays via PayPal, walks away with the book, gets home and does a chargeback. Then the seller is squirming and likely out the book and the money. If it isn't someone you know and trust, then to protect himself, the dealer should only accept "personal".

 

A cheque/check is no problem for people that you know. If you don't know them, forget it. Unless that person has been confirmed by a reputable dealer that there will be no problems, would I only consider this.

 

Visa/MC is fine, but I would call in for authorization and then get their signature on the written receipt.

 

In the end, most serious buyers will bring cash, I would say.

 

Maybe it's random, but I've been called by PP asking about personal/regular payments I've received and been reminded what the rules are. So I wouldn't say that a dealer accepting personal PP is without risk for high dollars sales. Perhaps they only spot check, but I would be reluctant to risk my standing with PP.

[scooter99]

as the US Treasury explains on their website, “Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.”

 

Which is what I said. Some people are under the misapprehension that businesses have to accept currency because it's "legal tender," but that's not what legal tender means.

 

You can count on one finger how many dealers would refuse cash, regardless of amount.

[RCheli]

I will take anything. However, I'm more than likely to discount when cash is used. But I think most buyers understand that.

[01TheDude]

seems like comic books would be a method to launder large sums of money-- I wonder if the cartels/mob etc have ever done any of that in the collectibles market. Perhaps art itself would be easier? not sure-- the small amounts, 1 or 2K here and there can add up pretty quick if you have enough people doing the job.

[Heronext]

I've been to around 5 shows in the past decade. Here are a few observations:

 

- I dislike credit card companies and think they are a drain on the economy. (I don't see how the standard 3% is not illegal price-fixing). I try to avoid using them where possible.

 

- The most cash I ever took to a show was $8,000. After two days however I concluded most of what I wanted could be found cheaper online. Most of it went straight back in the bank.

 

- Let's say you are negotiating with a dealer. You say you'll pay cash & he says he can do 10% off. You never know exactly how much you are actually saving... For all you know, he'd do 10% off even if you pay by credit card, and the extra 3% is going into his pocket and not yours. I haven't figured out yet how to negotiate first, then demand another 3% off for cash.

 

- Never thought to bring my checkbook to a show but maybe I should start. I tend to buy from a lot of different dealers. There are one or two dealers that have gotten a ton of my cash over the years but don't think they'd let me walk with a book I paid by check for. How do I build up that kind of cred? Is it even possible to pay by check and walk off with the book?