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- Mar 24, 2014
How to Trade Shoes Online
Good Faith Collateral Trade
**Paypal Accounts Needed**
A Good Faith Collateral Trade is a form of merchandise trading that I have used when trading shoes online. This kind of trading involves both parties having verified paypal accounts, it’s no way around it, it will only work if both parties have paypal accounts. No transaction is guaranteed to work or go smoothly, there are scam artist out there who seek to do nothing but scam, cheat and steal.
Here are the steps I follow each time I trade or attempt to trade a pair of shoes online.
A collateral amount is agreed on by both parties, the amount can vary depending on the worth of the merchandise, (I usually use $35). This amount is not a payment for the trade or anything like that as you will see.
One party agrees to place this collateral amount in the other parties paypal account (paper trail). If we are using the $35 from my example, the $35 is now looked at as a “good faith” payment or rather deposit. You are letting the other party know that in good faith you are putting money in their account (up front) without having received the merchandise being traded.
Whoever is putting this good faith amount into the other parties account is not the one who is shipping the merchandise first.
(Paypal allows you to send money back and forth and also allows you to write in what the payment/deposit is for. In this case for example you would write in something like: “This $35 is a payment to facilitate a merchandise trade, air Jordan 8 size whatever for nike foamposite size whatever”. Maybe add in the condition also) (Also in that comment section add that this amount will be returned/refunded once the trade is completed).
Moving forward whichever party that received the good faith deposit to their paypal therefore agrees to go ahead and ship off the merchandise. Why? Because someone that wants to scam you is not going to put money in your account before they receive any merchandise and supply you with their personal address.
The merchandise is then shipped out and received by the party that placed the collateral deposit in the other parties account. The merchandise is inspected and authenticated if necessary, and then that party ships off their half of the trade.
(I mentioned it in brief but using this paypal method, the two parties are sharing address information which is fairly significant).
Once the other party receives the merchandise and their inspection of that merchandise is complete and all is well, they simply go into their paypal account and refund the original $35 Good Faith Collateral amount.
Easy.
Things that can go wrong (lol):
If someone wants to scam you out of a pair of shoes, they can and will do it. Situations that may arise using this method can be vast but the fact of the matter is, trade with people you have spoken to/with in great extent. Have some type of report with the person or party you are trading with. For example one party involved in the trade is awfully slow with shipping their half of trade. You really can’t force any one 3 or 3000 miles away to hurry along or operate in a timely manner. It’s going to have to be discussed in detail before hand.
Let’s say the party that initially places the $35 good faith amount in the other parites account doesn’t receive any merchandise after the deposit is made. Well I use $35 because I can afford to lose $35 lol. If that person chooses to collect my $35 and not send the merchandise I would prefer that over me sending shoes and not receiving shoes back. Plus I have their address and email (through paypal) so I can harass them if I was that kind of guy.
In a situation where the first couple of steps work out fine (the collateral amount is deposited, one party ships the shoes, the shoes are received), then the receiving party doesn’t send their half to the trade to other party, well you have their address and email, believe it or not if the trade was worth that much to you, you could possibly send local authorities to that address you have for that person if you wanted to take it that far. The collateral amount depending on the worth of the trade could always be raised to cover a larger portion of the merchandise worth. Paypal is simply being used as an insurance medium in this process.
If you could think of anything that I could add to this form of trading, please let me know. I literally came up with this the first time I traded online about 2 years ago. I did a trade with a guy in Canada. The trade was for the 2011 Concord 11’s, his size 13.5 for my size 14. It went flawlessly and now I have a Canadian connect for life.
Good Faith Collateral Trade
**Paypal Accounts Needed**
A Good Faith Collateral Trade is a form of merchandise trading that I have used when trading shoes online. This kind of trading involves both parties having verified paypal accounts, it’s no way around it, it will only work if both parties have paypal accounts. No transaction is guaranteed to work or go smoothly, there are scam artist out there who seek to do nothing but scam, cheat and steal.
Here are the steps I follow each time I trade or attempt to trade a pair of shoes online.
A collateral amount is agreed on by both parties, the amount can vary depending on the worth of the merchandise, (I usually use $35). This amount is not a payment for the trade or anything like that as you will see.
One party agrees to place this collateral amount in the other parties paypal account (paper trail). If we are using the $35 from my example, the $35 is now looked at as a “good faith” payment or rather deposit. You are letting the other party know that in good faith you are putting money in their account (up front) without having received the merchandise being traded.
Whoever is putting this good faith amount into the other parties account is not the one who is shipping the merchandise first.
(Paypal allows you to send money back and forth and also allows you to write in what the payment/deposit is for. In this case for example you would write in something like: “This $35 is a payment to facilitate a merchandise trade, air Jordan 8 size whatever for nike foamposite size whatever”. Maybe add in the condition also) (Also in that comment section add that this amount will be returned/refunded once the trade is completed).
Moving forward whichever party that received the good faith deposit to their paypal therefore agrees to go ahead and ship off the merchandise. Why? Because someone that wants to scam you is not going to put money in your account before they receive any merchandise and supply you with their personal address.
The merchandise is then shipped out and received by the party that placed the collateral deposit in the other parties account. The merchandise is inspected and authenticated if necessary, and then that party ships off their half of the trade.
(I mentioned it in brief but using this paypal method, the two parties are sharing address information which is fairly significant).
Once the other party receives the merchandise and their inspection of that merchandise is complete and all is well, they simply go into their paypal account and refund the original $35 Good Faith Collateral amount.
Easy.
Things that can go wrong (lol):
If someone wants to scam you out of a pair of shoes, they can and will do it. Situations that may arise using this method can be vast but the fact of the matter is, trade with people you have spoken to/with in great extent. Have some type of report with the person or party you are trading with. For example one party involved in the trade is awfully slow with shipping their half of trade. You really can’t force any one 3 or 3000 miles away to hurry along or operate in a timely manner. It’s going to have to be discussed in detail before hand.
Let’s say the party that initially places the $35 good faith amount in the other parites account doesn’t receive any merchandise after the deposit is made. Well I use $35 because I can afford to lose $35 lol. If that person chooses to collect my $35 and not send the merchandise I would prefer that over me sending shoes and not receiving shoes back. Plus I have their address and email (through paypal) so I can harass them if I was that kind of guy.
In a situation where the first couple of steps work out fine (the collateral amount is deposited, one party ships the shoes, the shoes are received), then the receiving party doesn’t send their half to the trade to other party, well you have their address and email, believe it or not if the trade was worth that much to you, you could possibly send local authorities to that address you have for that person if you wanted to take it that far. The collateral amount depending on the worth of the trade could always be raised to cover a larger portion of the merchandise worth. Paypal is simply being used as an insurance medium in this process.
If you could think of anything that I could add to this form of trading, please let me know. I literally came up with this the first time I traded online about 2 years ago. I did a trade with a guy in Canada. The trade was for the 2011 Concord 11’s, his size 13.5 for my size 14. It went flawlessly and now I have a Canadian connect for life.
