No wonder nothing sells: wire transfer only


Seems big ticket items not only carry big prices but also big risks. 
Many sellers,  selling ultra priced equipment  are only willing to accept wire transfer as payment. Where’s the protection for the buyer? Speaking on experience, I would never send anything over $1000. to anyone no matter how good their feedback is without some sort of protection as a buyer. Maybe it’s just me, but nightmares do exist and can come true!

hiendmmoe

It depends on development of a trusted relationship not just a transaction. I’ve wired 5 figures but to known people / dealers w pristine reputation and feedback over a decent period of time.

It seems the OP is not as concerned with the up-front payment as with the method of payment being one with no recourse in the event something ends up janky. Credit cards and regular PayPal offer some level of protection for the buyer while money orders, cashier's checks, wire transfers, and PayPal F&F do not offer protections.  I suspect more sellers are asking for payment by F&F, wire transfers, and money orders because they don't want the amount of sale recorded and reported to the IRS.  Assuming sellers bought the stuff in the first place, the IRS reporting is easy and virtually nobody here should have a taxable gain of any significant amount.  However, some people just don't want to be bothered. 

If you want protection for expensive purchases as a buyer, simply offer payment by PayPal, offer to pay the associated fee, and walk away if the seller doesn't agree.  It may cost you a bit more, and you may lose a few deals, but you should have greater piece of mind that you won't get swindled.

OP and Bigtwin,

OP is concerned about wiring funds to a seller.  I not sure what protections you have if you wire money vs paying with a credit card, on via ones of the forums like this one or eBay.  I have never had a counterparty request a funds wire transfer, but if I did, I would steer them to sites where I had recourse if performance is not rendered.  

It's almost like giving cash to a stranger with a promise of something in return. I wouldn't do it.

I buy from dealers. The thought of wiring off a huge bunch of money just seems like crazy to me. I know folks that do it. I have gotten burned in much more direct circumstances. I don't mind paying a premium for certainty if it is more than I can laugh at loosing.