The Permanent Venture

 

Who Says "Buyer Beware"?

How about "Seller Beware"? I am a professional artist. I sell my artwork from my own website as well as three other online galleries. But lately I have had to scrutinize every transaction with a suspect eye.

Check bearing "certified" mean nothing anymore. And forget "Cashier's Check" as well. Anything can be printed on the Internet and given an authentic appearance. They have forged 'real' names of authorized bank signatures, removed checks from 'real' bank checkbook ledgers with 'real' numbers on them, mailed them to me and asked for the painting in question to be promptly packaged, insured, and shipped to a legal address, generally in Europe.

According to the FTC, a check overpayment scam seems to be the latest trend. The buyer offers to purchase an item for sale with a check, then comes up with a reason for writing the check for more than the purchase price of the item. Later, the scammer's check bounces, leaving the consumer liable for the entire amount, and quite often -- merchandise as well. The FTC says this scam is able to progress because, though the checks are counterfeit, they may look good enough to fool bank tellers.

In my case, the piece of artwork was $1700. The buyer mailed me a check for $3300, asking me to pay for UPS shipment out of the funds and return any unused portion of the check. Further, he/she proceeded to guide me via email as to the fastest way to cash this and get the merchandise promptly in the mail.

But I am one of those stubborn "sellers" who insists that the check clear and the cash is in my hand before I march off to UPS with my hard work. So here's some tips for Sellers Beware.

  • Know your buyer -- get a phone number and begin conversing by phone

  • Never accept a check for more than your selling price

  • Never agree to return surplus funds to a buyer

  • Never bend to the "act now" pressure

  • Consider an alternative payment plan such as Western Union (cash-in-hand)

Victims of this scam should file a complaint with FTC at: www.ftc.gov.

© 2005 Esther Smith
http://hinchliffartgallery.com


About the Author:  Smith has published numerous articles and writes a blog for all artists: http://the-self-taught-artist.com/blog.html She also coaches new students on how to leave the time-for-money trap and set up Leveraged Income for life.  http://thepermanentventure.com/dcc.htm   If you can’t sing or ride a bull, you better learn how to make your money work for more money.
 

The Permanent Venture
This Page Last Modified on February 26, 2007 23:08