Proposal: Pro-Bono Escrow for High Value Transactions on Classifieds Section

LBuyLowLetsGo on 18/12/2022 - 22:10

Been a regular user of the classifieds section, buying and selling. Fortunately haven't been scammed, but I feel like sometimes it's just a matter of time.

One way I try to build my own feedback system is to give/acquire "reviews" in the comments after the transaction is done, and have that as links in all future classifieds. Bit tedious to be honest and I've seen "review" systems being shot down as a suggestion due to possibility of gaming the system over time.

As another alternative, what do people think of escrow "services" for high value classifieds (>$500???) provided pro-bono by OzBargain veterans? Vets can be considered users with a certain number of classifieds + number of years active, etc…

Was just thinking about this today as I struggled to trust a new-ish user here to buy. As a user since 2018 (not necessarily a vet however), I'd be willing to act as an escrow occasionally out of good will for quick and simple transactions. Wonder if others would do the same and eventually have a pool of people able to mediate once in a while.

Thoughts fellow bargain hunters?

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Comments

  • Jimothy Wongingtons on 18/12/2022 - 22:12
    +1

    I’m still shook after that moshtix scam story the other day, escrow wouldn’t have saved op there.

    • BuyLowLetsGo on 18/12/2022 - 22:36

      Could only restrict this to certain items at first or ones that have clear validation pathways around. E.g. gift cards that can be checked for active balance online.

      GCs seem to be the main trade anyway.

      • Jimothy Wongingtons on 18/12/2022 - 22:44
        +2

        I stopped buying discount gc years ago, just too much uncertainty with gc scams (fake, hacked, stolen, emptied after transactions etc), still makes me amazed at the risk buying 3rd party gc some will go to just to get 10% off.

  • brendanm on 18/12/2022 - 22:30

    I'd have no problem doing it, though I'm sure lots wouldn't, as it likely opens up a lot of issues for the person providing the free escrow service.

    • BuyLowLetsGo on 18/12/2022 - 22:40

      yea 100%. Not everyone would be willing for sure. What issues do you foresee?

      Could potentially set up rules around this to keep escrow simple, primarily as a way to relay items and avoid a no-show on one side, in particular the seller after receiving payment.

      As above, perhaps implement only for GCs with ability to "balance check". Parties involve must understand that escrow provider's responsibility is to just relay items/cash upon simultaneous receipt.

      • brendanm on 18/12/2022 - 23:02

        One of the main ones is that many of these gift cards seem to have flaws, where people can fleece the balance without needing to know the pin etc. Just look at the number of issues with them reported on here. Image being the middle man, getting the money, getting the gift card details, confirming it's all good, sending both in the correct direction, then an hour later being accused of stealing the gift card money.

        • elgrande on 19/12/2022 - 02:45

          then an hour later being accused of stealing the gift card money

  • randomusername2017 on 18/12/2022 - 23:06
    +1

    I'd be willing to act as an escrow

    Why should I trust you?… post history? membership join date? Who guarantees the escrow?…

  • AustriaBargain on 19/12/2022 - 00:01
    +1

    I'll bribe you $30 to side with me in my classified scams.

  • BuyLowLetsGo on 19/12/2022 - 14:32

    Guess this was a shitty idea. Hah. Onward.

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