eBay to Launch Escrow Service for High Value Items

by: eBay Shill Buster

There are already escrow services on the web: www.escrow.com

Over 3 billion in transactions.

by: Silver Ice King

@Ebay Shill Buster

But once again ebay is looking for another way to dip deeper into the Sellers pockets as we all know that Ebay is going to have their hands in whatever the cost is, if not all of it.  That is why they are suddenly pushing their high end watches which used to be one of their biggest money makers until they started allowing their precious buyers steal the Sellers blind.  I guess they realized that the scammers who they have continued to count on to keep them going have cost them a lot more business than they produce.  Evidently the authentication program for purses is not producing enough additional revenue so they had to devise another way to dig deeper into their sellers pockets and once again are going to go after the deep pockets just as they did with the forcing Sellers into Mangled Payments.

Any bets on one condition of being able to use this escrow service is that the Seller be enrolled in Mangled Payments so that ebay can control all the money that may  start flowing into that category.  I say may because with their MBG program there are going to be more and returns of fake items for refunds and the Sellers will once again take the hit.  All the Escrow will do is give Ebay the ability to keep the money in their control longer on these items until the buyer agrees that they got what they purchased.  Escrow does not guarantee that the item is real, just that the buyer and seller each supposedly got what they wanted.  As I remember though, the last time they tried this their were accusations that the Escrow companies were switching things out and keeping the real items whilke sending the buyers fake items, and of course Ebay did nothing to protect the Sellers.  I would also be willing to bet the full cost of this service will once again be borne by the Sellers as Ebay will say it is for their protection when in fact it is all for the buyers, as usual.

by: eBay Shill Buster

Silver, this is a dog and pony show for Wall Street, Schenkel had to come up with something new since the buzzwords 'advertising' & 'payments' are old lies that are not working to generate numbers other than the PR hype eBay lends to them for investors.

Instead of focusing on the actual marketplace they are always looking to deflect the attention to something else because they are failing miserably at Wenig's 'modernization of the marketplace.

It's the new stuff they are doing that is where the growth is, you know, Promoted Listings, eBay Payments and the place they will force sellers into the great eBay Seller Hub, we all know the great success all of these modules are.....

...Belly Laugh.....

by: pace306

1) never buy a service from eBay unless you have to OR
2) by some miracle of GOD, eBay is actually cheaper
3) Silver is right - its a eBaypay money scheme
4) eBay knows as much about real vs fake as Griff does about Seller Protection
5) Once eBay has you by the ... you KNOW that as with retruns etc that THEY will be the ONLY arbiture and always find for the buyer
6) Until eBay stops warring with its sellers - any of these services are rigged against sellers
7) another way to illegally keep the float
8) Silver is right (again) in describing eBays sudden interest in high dollar items. Desperately needing higher GMV numbers, eBay believes that if they get higher end items instead of more sellers - they can win the battle - hint: they cant.
9) eBays Purse venture is apparently going no where - theres been no news about it since forever
10) SIlver is right (yet again) that the service(s) cost will be born by the seller and not eBay or the buyer, since Walkers West II is needed (eBay employees work HARD stealing sellers hard earned money and need a drink STAT!)

Great work from Ina, more crap from eBay ..... its all gimmicks trying to sell you the Brooklyn Bridge.

by: comments

I think that it would just put more friction in the way of the transaction. I suppose to have an opinion any further would depend on the item value requirements. If ebay does it on transactions of $10,000+ I would say sure.

If by high value they mean transactions over $1000 I think they would be better off with some sort of transactional, theft, and/or chargeback insurance available to sellers for a fee if they choose. Ebay could collect these fees while still using the normal vetting process to ensure they don't have to pay claims to problem buyers. This would also be a huge opportunity for ebay to make some extra money while giving sellers extra security.

by: Chicago48

I thought that EB always had an escrow service....didn't they have an escrow years ago for high-end goods?  

by: Marie

Ebay wants to increase "buyer trust" with this new policy.  Ebay really needs to give some consideration to Seller Trust.  To sell high dollar value items on Ebay is beyond dangerous with the way Ebay handles the return system.  I would never recommend to anyone to sell high dollar value items on Ebay.  And that is solely from a seller's perspective.  Unless you can lose the money without damaging yourself financially, I wouldn't do it.

by: hawk

never fear-----it's just another way to figure out how to steal more money from sellers , and turn a really good thing into something bad.

by: LasVagueness

High-end merchandise sold on Poshmark is first sent to Poshmark for authentication. Win/win.

by: FeelingFroggy

Ebay wants to increase " buyer trust ". HA HA HA HA Ebay should consider cleaning up the site and dealing with all the junk they have. That would go a long way for buyer trust. Until then all this is just more hot air smoke and mirrors. Buyers already know if you value your money, buying a high value item on ebay is a fools investment.

by: eBay Shill Buster

Here at eBay, we have screwed the marketplace up so bad with new modules like Promoted Listings that have corrupted search, eBay Payments that have bankrupted small sellers, shopping carts that can't combine shipping properly so we get a higher cut on shipping, that we have decided to try another business we can't run properly, we want to be an ESCROW service.

by: NoMoreEbay

Escrow by definition is money is held by a third party until the transaction is finalized (buyer is satisfied with the purchase and agrees to release the money to the seller.)

If ebay launches this with no returns, no chargebacks, no crying to paypal once the escrow transaction is complete - great.

We all know that isn't going to happen. So what you'll have is an escrow service with returns and the usual abuse and scams.

What exactly would be the point of an escrow service then? It would be nothing more than a meaningless delay to the inevitable scam or return and the seller's payment.

by: NoMoreEbay

Well if anyone was wondering what camp Schenkel belongs to, I think that has been answered. The same what-the-flup-is-he-talking-about corporate spin babble camp that every single talking head has been a proud member of for over a decade. It's like they are some kind of brainwashed clones in a culture of Stepford wives. Not a single 'individual' with his own mind has come out of the executive offices at this company. It's really mind boggling.

Can someone explain to me what the flup this clown is talking about?

"..improve the buyer experience by leveraging its structured data foundation while driving more margin expansion."

"For buyers, we will build better vertical capabilities.."

by: eBay Shill Buster

NoMoreEbay, he is talking to small individual investors, the problem is, eBay is 90% owned by institutions with money managers listening who know it is all smoke and mirrors by an executive who will not be at eBay in a few months.

Schenkel is just as bad or worse than Wenig, he has never even commented once to sellers about the continuation of Wenig;s criminal changes enacted to 'modernize the marketplace'.

In fact, Schenkel has empowered Wenig's criminal buddy Harry Temkin to conduct even more criminal schemes in a vain attempt to keep the Titanic afloat.

by: toolguy

eBay does something good and you people complain.

How many of YOU actually sell expensive items?

My guess is very few since most of you have said that you don't sell expensive items on eBay.

You talked, eBay listened and you are still complaining?

by: iheartjacksparrow

@NoMoreEbay - It's all Weaselspeak and word salads. Sometimes I wonder if they truly know what they're talking about.

And as Chicago48 asks, I also thought eBay had an escrow service early on, but didn't they then make escrow services against their payment policies?

First rule of selling on eBay: Never list anything you can't afford to lose.

by: iheartjacksparrow

@toolguy - Please provide a link to any forum or blog post where sellers were requesting an escrow service. And how is eBay doing something good when it is clearly a money grab?

by: toolguy

@iheartjacksparrow

It's NOT a money grab when it's VOLUNTARY

If I sold a $25,000 tool on eBay I might pay for a escrow service, but having that choice is better then not having it. . . .

by: industrystones

It just keeps getting better and better!  haaa
If I don't TRUST Ebay with a $9 item in itself, WHY would I trust them with a high priced item and one of their UN-secure ratchet programmed escrow services? ??

by: eBay Shill Buster

eBay itself has created their own market for an escrow service, all the sellers who have been ripped off for laptops will now come back. LOIL