Selling to those Canadians

[Mr Peabody]

I threw my Primare processor up on Audiogon again and stated "US only". I received an email from a guy asking if I'd ship to Canada. I told him I wasn't opposed but I'm not on Paypal and the last time I tried it took almost a month for a check to clear from Canada. That time I had my Audio Note DAC sold and by the time the check cleared the guy backed out. Any way the guy who wanted my Primare stated he had a small business and deals in the States all the time. So he gave me some pointers and I thought I'd pass them along.

He sent a certified check in U.S. dollars. Can you believe even certified it took a week for me to get access to the funds? My bank says Canada is on a different system so they couldn't do it electronically. I don't know if this is just my backward bank or if that's the way for all banks. He requested to avoid $60.00 to $80.00 worth of extra fees charged when using UPS or Fedex that I ship USPS priority mail. So I did. On the customs sheet check "gift". On the customs sheet there is also a spot for value and another for insurance. I wouldn't suggest any dishonesty but if you have to estimate the value the lower the less fees the buyer has to pay and your insurance can be more than the item is valued.

The buyer seemed to be happy with USPS although my local office is a PIA. They didn't even help me with tracking info after asking. I emailed the guy info off my receipts and he's like "oh, you sent me the tracking number, check this link". OK, did I feel stupid. Short story long it was a smooth transaction, a learning experience and I sold my 31.7. Now do I buy a new toy or pay off the carpet I recently had laid...... :)

[thekid]

Congrats on the sale of your gear! Now if you owned gear like mine you would not have to worry about those pesky banks. you would just have to hold the the twenty up to the light and be done with it..... :)

One of our local former Olympians was indicted for check fraud and the local newspaper did quite a write up on how it was done. Because of improved printers, copiers and other technological advances a lot of the bank fraud that occurs is actually through the use of fake certified or cashier's checks. These used to be as good as cash in terms of their turn around time through the banking system but for many banks that has changed and they now put holds on them. Depending on the banks, the amount of the check and the parties involved the length of the hold time will vary.

[kexodusc]

Shipping to my relatives back in the US is a real pain in the rear end. You've picked up the basics from what I've seen, Mr. P. Not sure on the bank thing though...

[Luvin Da Blues]

Most of my gear (sans speakers) have been shipped from the states. I have nothing but good things to say about the process. Of course most of the deals were made with Paypal.

Very good tips Mr.P, I found that a lot of online dealers will only ship FedEx or UPS tho. One thing I would add for us 'Nucks is to watch the currency exchange rates.

[poppachubby]

Peabody, if you have any questions pertaining to banking in Canada please feel free to ask. My wife is a banker. Maybe for your next, "True North Strong and Free" transaction...

[Feanor]

Here I am in Canada, and I've bought lots from, and sold lots to, people south of the border.

Here's my simple advice to US residents selling to a Canadian resident. Accept payment one of two ways: (1) PayPay, or (2) Postal Money Order. If you take a Canada Post, US dollar money order to any USPS outlet, you'll get your money in cash for no fee.

Don't accept checks drawn on a Canadian bank, even certified checks (actually "cheques" up here) -- you have seen what happens when you do. The problem is not the Canadian check clearance system which is highly efficient and certainly computerized: its the greed of the banks State-side that is the reason for $50-60 services charges; (Canadian banks are great at charging excessive bank fees too).

FedEx, UPS, DHL, and various other carriers ship reliably to Canada. However most Canadians will thank you for shipping USPS whenever that is possible; (maybe not best for large, heavy equipment). The reason is that Canada Post doesn't gouge receipents for brokerage fees as these others do. CP charges a flat fee of $5, (or $8 for expedited post), whereas the public carriers charge some sort of percentage of value and/or tariff and taxes collected, and this can run to 30% or more of the value.

Parenthetically, Canadian banks are rated most secure in the world; they where virtually unaffected by collapse of mortgage-based derivatives in the U.S. This was largely because Canadian regulators did not permit banks to make significant amounts of these so-called "investments". It is outrageous that banks in the US and many other courtries were (and are) allowed to gamble with other peoples money, but it is less so in Canada and a few other countries (such as "third world" India).

[poppachubby]

Here I am in Canada, and I've bought lots from, and sold lots to, people south of the border.

Here's my simple advice to US residents selling to a Canadian resident. Accept payment one of two ways: (1) PayPay, or (2) Postal Money Order. If you take Canada Post, US dollar money order to any USPS outlet, you'll get your money in cash for no fee.

Don't accept checks drawn on a Canadian bank, even certified checks (actually "cheques" up here) -- you have seen what happens when you do. The problem is not the Canadian check clearance system which is highly efficient and certainly compterized: its the greed of the banks State-side that occassion the $50-60 services charges; (Canadian banks are great at charging excessive bank fees too).

FedEx, UPS, DHL, and various other carriers ship reliably to Canada. However most Canadians will thank you for shipping USPS whenever that is possible; (maybe not best for large, heavy equipment). The reason is that Canada Post doesn't gouge receipents for brokerage fees as these others do. CP charges a flat fee of $5, (or $8 for expedited post), whereas the public carriers charge some sort of percentage of value and/or tariff and taxes collected, and this can run to 30% or more of the value.

Parenthetically, Canadian banks are rated most secure in the world; they where virtually unaffected by collapse of mortgage-based derivatives in the U.S. This was largely because Canadian regulators did not permit banks to make significant amounts of these so-called "investments". It is outrageous that banks in the US and many other courtries were (and are) allowed to gamble with other peoples money, but it is less so in Canada and a few other countries (such as "third world" India).

Well put Feanor. I am in agreement that postal money order is the way to go. For anyone who didn't know, now you know. Our banks are not exclusively run with greed and profit in mind, therefore Canadian banks ONLY profit in the billions. LOL...

[Mr Peabody]

USPS money order was a great addition to the tip list. Thanks Bill

Certainly the exchange rate should be considered. My first transaction I ended up with slightly less than what the deal was supposed to be for after cashing, so this transaction the guy sent me U.S. dollars which was nice. I'm surprised he didn't know about the USPS MO's.

If I did this very much I'd probably look into Paypal.