Excellent explanation Lazarus28! This scam is much more prevelant than you think, and usually originates overseas since it's that much harder to track the perpetrator. One of the TV news magazines (either dateline or 20/20) covered this topic recently. In that case, it was for a BMW to the tune of $60k. Another told of a couple who were selling their used car for $5k. The buyer was from South Africa and pulled the same scam. The poor couple were taken for $5k. I'd save that e-mail address and present it to the authorities (though I'm not sure who the proper authorrities are!)Next time offer to collect the debt first, for a fee of course. More likely than not, that person will balk at the idea. Be wary of referneces as well, which can be easily fabricated.
A new ploy for fraud?
I recently got an inquiry on one of my ads (not here on Audiogon but on another site) for a pair of interconnects. After a few emails back and forth, we agreed on the price of $90. The prospective buyer then said he is in England and would like to propose an (unusual!) payment method. He said someone in the states owes him $3000, so he will ask this guy to send me a check for $3000, I am to cash the check and then WIRE him the difference ($2910 in this case). Of course I said thanks but I deal in cash. I never heard from him again. Has anyone experienced this?