posted on September 23, 2001 10:43:07 AM new
I have a buyer ( yes, it's the NARU'd buyer in my previous thread. ) who wants the package insured thru USPS for 200.00. She paid 58.00.
Which one is correct? I looked up info on USPS and it seems to be unclear. I only feel comfortable with the price paid.
I think there was a thread about this somewhere, do you remember where?
posted on September 23, 2001 12:01:33 PM new
price paid.
You or your buyer will need to provide some type of proof of the price if the item gets lost of damaged. Depending on the postal worker that may have to handle the claim, they may insist on a cancelled check, money order receipt or invoice for proof.
posted on September 23, 2001 01:44:13 PM new
value, but that doesn't mean I disagree with toollady.
The interesting part is establishing the value. If it just sold on eBay for $58, it's really hard to establish a value of $200. The $58 stands as a pretty strong indication of its value. Buyer's opinion of value is irrelevant.
You can insure it for $20,000, they just won't pay if it gets lost or damaged.
Given this buyer's problems, insuring for $100 doesn't seem a bad idea, there will be a signed delivery receipt.
posted on September 23, 2001 02:01:23 PM new
This subject has come up before.
If you can show a... lets say "book value" or other concrete proof of $200.00 then that is what the insurance should pay.
Its none of their business how much they(buyer) paid for it.
What if it was a "gift" and no money was exchanged but you could prove the worth being $200.00. Insurance has to pay.
Now...is it ethical what your buyer is trying to do?
I don't know, on one hand maybe yes. Suppose eBay went down just before the close of the auction, limiting the bidding and keeping it from reaching the true value.
That doesn't mean the buyer should think it is worth less because they got a good deal.
I guess the bottom line is if you "know" and "think" its is worth $200.00 and that the buyer isn't just pulling figures out of the air, then I'd be inclined to insure it for that much.
But..make it clear that the buyer makes ALL claims if something should happen to it.
posted on September 23, 2001 04:52:47 PM new
Packer -
You raise a very interesting point.... about maybe the site having problems when auction closed. There were no bids in the last two hour of auction. I notcied on earlier auction for the same type of piece that all the bids came in the last half hour.
