Did My Mother-in-Law Get Scammed?

[BPSCG]

Okay, here's the story:

Mrs. BPSCG's dad died four years ago, leaving behind, among other things, a 1968 Ford F-150 longbed pickup with about 186,000 miles on it, in excellent condition. After a few years fruitlessly trying to get a family friend to pull the trigger and buy it from her as he'd promised, Mrs. BPSCG's mom decided to sell it on eBay.

She listed it with a reserve of $15,000 (she was convinced it was worth more, because some guy had told her it was worth $17k). I doubted she would get anything remotely close to that price, because I looked at what comparable trucks had sold for on eBay, and the range was generally about $2k to $4k.

Well, the top bid she got was about $5k, but since the reserve wasn't met, the truck didn't sell. She and a friend put it on Craigslist for a while, where it sat, and she eventually took it off and put it on some antique vehicles web site.

She got a bid for it earlier this week for $9,000 - much more than I thought she would get. The buyer lives in South Carolina and is paying $800 to have it shipped there from Texas.

MIL got the bank check today, and took it to her bank. They wouldn't give her $9000 immediately, since it was from another national bank, so she took it to the bank it was drawn on. They looked it up, decided the check was good, and gave her $9,000 in cash.
Most of my brain is saying :woowoo, but about five percent is asking "Where's the scam?" The bank has ascertained the check is good, and she has $9,000 cash from a bank where she has no account that they can recover from should something untoward happen.

So where's the scam? Why should someone pay three times what the market says this truck is worth?

[rjh01]

Maybe the buyer made a mistake and paid more than what it was worth?

Maybe the cheque will bounce and the bank has to pay up, not your mother.

Just done a search and found this Ford F-150 (http://sell.wcsx.com/autos/search_results?refine_search%5Bvaluetrue%5D=&cm_search_option%5Bis_new%5D=all&cm_search_option%5Bdistance%5D=&cm_search_option%5Bzip_code%5D=&cm_search_option%5Bat_make_id%5D=10040&cm_search_option%5Bbottom_price%5D=&cm_search_option%5Btop_price%5D=&cm_search_option%5Bat_model_id%5D=10059&cm_search_option%5Bmileage_from%5D=&cm_search_option%5Bmileage_to%5D=&cm_search_option%5Bstart_year%5D=1954&cm_search_option%5Bend_year%5D=1990&cm_search_option%5Bposted%5D=All&cm_search_option%5Bat_body_style_id%5D=&cm_search_option%5Bdoors%5D=-1&x=34&y=12) for sale. Highest price was $1,900

Is your mother telling you the truth? Have you seen the $9,000?

[sophia8]

If there's any scam, then the bank that paid your mother was the victim - they should have checked the buyer's account more carefully.
Stuff like antique trucks are worth exactly what the buyer thinks they are. If he's willing to pay way over the list price, then that's his business.

[Foolmewunz]

At first, I thought it was the overseas car scam*, which is pretty commonly run in Europe/UK. But if she got the cash, then it's a bit puzzling, as that one's based on the mark shipping the car and the check not clearing.

What are the local laws? If the bank has been scammed, whether she has an account or not, they may go after her as the funds aren't there. I don't know the legal position on it, but whether it's 100% legal or not, the bank may try to collect, nevertheless.

Alternately, maybe someone just made a mistake? But it sure doesn't feel right.



*Someone identifying themselves as being in Ghana or some other obscure location will make a juicy offer, usually for an old Benz or BMW. They are so "excited" about the car, usually saying that that particular model has an emotional tie for them, that they send more than enough money to cover the agreed price plus shipping, and ask the seller to transfer what's left over to another account they have set up. Relying on old tried and true personal greed, many fall for it and ship the car prepaid and transfer the thousand or so extra Euros or Pounds, only to find that the fancy looking check from a bank in Geneva is bogus. They're out the car, the shipping, and the overpayment they paid back.

[Darat]

How long ago was the cheque cashed? And did your mother have to provide ID to cash it?

If it was something like a week ago and she did provide ID then I would assume everything is OK as that should have been long enough for a bank to transfer the funds from the buyer's account and if there was a problem the bank would have contacted her by now.

[sophia8]

So what arrangements has the buyer made to pick up the truck?
I find it a bit puzzling as to why he sent a check instead of having whoever came for the truck to hand over the cash in return for the keys.

As Darat says, if the bank hasn't demanded the cash back by now, your mother should be in the clear. But she'd best not spend any of it yet - not until the truck's been collected.

[BPSCG]

Maybe the cheque will bounce and the bank has to pay up, not your mother. No, she took it to a Texas branch of Wachovia, the bank in South Carolina where the check was drawn on. They evidently looked it up in Texas - computer? phone call to SC? - and satisfied themselves that the truck's buyer had indeed funded the check. MIL has no account of her own at Wachovia, so it's not like if the check somehow turns up bad, they can take the money out of one of her accounts.

Is your mother telling you the truth? Have you seen the $9,000? Are you calling my mother-in-law, a Texas lady, a liar, sir? If you do not retract that accusation, sir, I shall be forced to demand satisfaction on the field of honor, sir.

No, I haven't seen the money, but I am certain she got it. Because it would mean she's lying not just to me (unlikely) but to her daughter, too (impossible).

[BPSCG]

If there's any scam, then the bank that paid your mother was the victim - they should have checked the buyer's account more carefully. Agreed, and I doubt very much they would have handed over $9,000 in cash to my MIL - who, let it be repeated, is a perfect stranger to that bank - without checking carefully.

Stuff like antique trucks are worth exactly what the buyer thinks they are. If he's willing to pay way over the list price, then that's his business.Everything is worth exactly what someone is willing to pay for it. But why would someone be willing to pay almost $10,000 ($9,000 plus the $800 it's going to cost to ship it to SC) when he could almost certainly get one a lot closer to home for a lot less?

[BPSCG]

What are the local laws? If the bank has been scammed, whether she has an account or not, they may go after her as the funds aren't there. I don't know the legal position on it, but whether it's 100% legal or not, the bank may try to collect, nevertheless.I don't know, but assuming the check is phony - and again, the Texas branch checked before handing over the money - I just don't see how they could go after her if she wasn't actually a party to the scam.

[BPSCG]

How long ago was the cheque cashed? And did your mother have to provide ID to cash it?Yesterday. I don't know if she had to provide ID, but I'd be very surprised if she wasn't.

If it was something like a week ago and she did provide ID then I would assume everything is OK as that should have been long enough for a bank to transfer the funds from the buyer's account and if there was a problem the bank would have contacted her by now.Again, that presupposes there's a problem at the buyer's bank, and it appears there isn't. I agree, if a week from now, everything is still okay, then my BS detector drops back into the green zone.

[BPSCG]

So what arrangements has the buyer made to pick up the truck? Evidently sending a tow truck over to hitch it up and drive it away. Gonna cost him $800. When Mrs. BPSCG told me that, my reaction was, "Jeeze, a one-way plane ticket from Columbia (or wherever) to Dallas would probably cost him only $200. Why doesn't he just do that? The truck runs fine."

Of course, if he's willing to pay three times what the truck is worth in the first place...

I find it a bit puzzling as to why he sent a check instead of having whoever came for the truck to hand over the cash in return for the keys. Good point. I don't know.

As Darat says, if the bank hasn't demanded the cash back by now, your mother should be in the clear. But she'd best not spend any of it yet - not until the truck's been collected.She's already spent part of it. Her next-door neighbor helped her list the truck and helped her with the legal arrangements (there's a signed contract), so she gave him ten percent, which seems only fair.

But again, I don't see how Wachovia has any possible recourse. She walks in with a check drawn on their bank. They have the ability to ascertain whether it's any good or not. If it's no good, they go back to the guy who wrote the check, the same way your bank would go back to you if you bounced a check.

And in any case, it's a certified check, meaning Wachovia made sure he had the money to back it up in his account before issuing it. That also means there's $9,000 in his account that's frozen until the check is presented at Wachovia for payment.

[NoZed Avenger]

SCAM.


At least a very real possibility.


WAIT AT LEAST A WEEK TO MAKE SURE CHECK CLEARS COMPLETELY BEFORE LETTING THAT TRUCK MOVE ANYWHERE.

You read about similar scams on the craigslist sites.

If the check is bad, it may take a week or more for the bank to run into a problem, after which bad things will happen. You can fight the bank on whose fault it is and whether they have a duty to check it and etc., but it would be safer to hang on to the truck and avoid having to make that fight.

This is not legal advice, this is just advice from someone who has read the warnings on craigslist.

[BPSCG]

Correction: It was a 1968 Ford F-100 longbed, not F-150.

[Darat]

on their bank[/B]. They have the ability to ascertain whether it's any good or not. If it's no good, they go back to the guy who wrote the check, the same way your bank would go back to you if you bounced a check.

...snip...

Remember this is a bank and therefore common sense does not apply to what they can and can't do and whilst there may be some argument who is at fault you can rest sure that it will not be the bank... Whenever a bank is involved the rule to follow is "Right or wrong the bank doesn't lose!"

[volatile]

In all honesty, this guy probably just really wanted the truck.

Who knows why - the engine could be rare, the hub-caps special-editions, the colour unique, the condition great for the model? Classic car buying is a weird, convoluted, esoteric business and if someone really, really wanted the exact thing your mother was selling, then $9k was probably a decent deal in the buyer's mind. Don't presume to think that just because you wouldn't pay $9k for it, no-one else would. After all, who was it that told her it was worth $17k? Your "naive eye" is probably overlooking something particularly interesting about it.

A quick Google search revealed a beater shell of the same model for $2.5k, and a custom version for $5k, so $9k isn't really all that surprising.

[tkingdoll]

In the UK, the banks have bounced scam cheques months after giving the cash. Then they say "give us the money back" and generally the person has spent it.

There was a big article about just such a case earlier this year. I'll see if I can find it. But apparently even when a cheque is 'cleared', it's not cleared.

No idea if it's the same in the US.

[fls]

According to the FTC (http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre40.shtm), even though the funds have been made available to you, it doesn't mean that you won't be held liable for the amount if the cheque turns out to be a forgery. And it can take longer than a week for this to be discovered. If the cheque bounces, they will want the money back from the person they gave the money to - i.e. your mother. And they know who she is because she provided them with ID. By that time, she will be out a truck and the buyer will be gone. They won't go after the guy who wrote the check because they won't know who that is if it's a fake. You can argue that it's their responsibility to detect the forgery, not your mom's, but it doesn't look like that's the way it works.

I'm not saying that is what will happen in this case. But it doesn't sound like your mother is safe just because the bank gave her the money. (I'm not a lawyer.)

Linda

[BPSCG]

According to the FTC (http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre40.shtm), even though the funds have been made available to you, it doesn't mean that you won't be held liable for the amount if the cheque turns out to be a forgery. And it can take longer than a week for this to be discovered. If the cheque bounces, they will want the money back from the person they gave the money to - i.e. your mother. And they know who she is because she provided them with ID. By that time, she will be out a truck and the buyer will be gone. They won't go after the guy who wrote the check because they won't know who that is if it's a fake. You can argue that it's their responsibility to detect the forgery, not your mom's, but it doesn't look like that's the way it works.

I'm not saying that is what will happen in this case. But it doesn't sound like your mother is safe just because the bank gave her the money. (I'm not a lawyer.)

LindaThanks. From your link: If you accept payment by check, ask for a check drawn on a local bank, or a bank with a local branch. That way, you can make a personal visit to make sure the check is valid. If that’s not possible, call the bank where the check was purchased, and ask if it is valid. Get the bank’s phone number from directory assistance or an Internet site that you know and trust, not from the check or from the person who gave you the check.Emphasized portion is exactly what she did, and they said it was good, and paid her. Again, she got paid by the buyer's bank, not her own bank.

[balrog666]

Now all she has to do is change her name and move, and she's home free!
;)

[fls]

Thanks. From your link: If you accept payment by check, ask for a check drawn on a local bank, or a bank with a local branch. That way, you can make a personal visit to make sure the check is valid. If that’s not possible, call the bank where the check was purchased, and ask if it is valid. Get the bank’s phone number from directory assistance or an Internet site that you know and trust, not from the check or from the person who gave you the check.Emphasized portion is exactly what she did, and they said it was good, and paid her. Again, she got paid by the buyer's bank, not her own bank.

I got that. But once the forgery is discovered, I don't see why the buyer's bank won't want their money back, too.

Linda

[BPSCG]

I got that. But once the forgery is discovered, I don't see why the buyer's bank won't want their money back, too.

LindaHow could the buyer's bank not detect a forgery of their own check, given just a basic standard of care? I talked with MIL this am, and she said the cashier didn't just look at the check and say, "Uh-huh, that looks like one of ours." She went back into an office somewhere and came out a few minutes later saying the check was good. Presumably, they queried the bank's online system to determine the check was good, before giving $9,000 to a total stranger.

Note MIL first went to her own bank - not Wachovia (again, she doesn't have a Wachovia account) with the check and they told her they couldn't cash the check until it cleared, which sounds perfectly reasonable, since they had no way of knowing if the money was in the Wachovia account to back it up.

[volatile]

It could be a stolen cheque, in which case it could be genuine, based on liquidity and still subject to recall.

[YoPopa]

At the very least I would suggest that your MIL, get a good photo of the tow truck driver and his driver's license. If it is a scam (high probability IMHO) then there is a very good chance that he is in on it. If he refuses to be photo'd then dial 911.

[Rob Lister]

Your mom made a mistake. She should have required via the ad that payment was required via either Paypal or a certified check. If the check comes back as a forgery, then she is on the hook for the (by the bank) for the cash. Now, the bank has to make it right with the defrauded account holder but the bank is not just going to write off the loss; they'll go after your mom in civil court at the very least. Hopefully, everything is on the up and up but it certainly has all of the earmarks of a scam.

[BPSCG]

She should have required via the ad that payment was required via either Paypal or a certified check. It was; sorry if I didn't make that clear.

[rjh01]

<snip>
Are you calling my mother-in-law, a Texas lady, a liar, sir? If you do not retract that accusation, sir, I shall be forced to demand satisfaction on the field of honor, sir.

No, I haven't seen the money, but I am certain she got it. Because it would mean she's lying not just to me (unlikely) but to her daughter, too (impossible).

Just checking the possibilities. You can demand all you like but what you get is another thing. But if you want satisfaction we can dual by playing 3D noughts and crosses.:D

[Rob Lister]

It was; sorry if I didn't make that clear.

Well, if it was by paypal we wouldn't be having this discussion.

If by certified check, then she's in the clear. A certified check drawn from and cashed at the same bank is problem free. When a certified check is drawn, money is deducted at that time from the person drawing the check. Assuming it was cashed at the same bank (main or branch), then unless your mother is not your mother (and therefore probably not Texan), then there is no prob.

[BPSCG]

Just checking the possibilities. You can demand all you like but what you get is another thing. But if you want satisfaction we can dual by playing 3D noughts and crosses.:DNo no no. Sunrise tomorrow, on the field of honor, with axes as weapons.

[rjh01]

No no no. Sunrise tomorrow, on the field of honor, with axes as weapons.

I am the challenged and as a result I choose the weapons. Besides axes are no good. One of us could get hurt. That is against forum rules.

[a_unique_person]

Now all she has to do is change her name and move, and she's home free!
;)

She could try pretending she drowned in a canoe accident, live in secret in a small room for years, and grow a beard as a disguise.

[BPSCG]

I am the challenged and as a result I choose the weapons. Besides axes are no good. As I am the injured party, I should choose, but in the interest of moving events to a proper resolution, I yield the privilege.

One of us could get hurt. That is against forum rules.
Ah, I recognize you now:

"Have you considered, sir, what would be the inevitable result of such a meeting as this?"

"Well, for instance, what would it be?"

"Bloodshed!"

"That's about the size of it," I said. "Now, if it is a fair question, what was your side proposing to shed?"

I had him there. He saw he had made a blunder, so he hastened to explain it away. He said he had spoken jestingly. Then he added that he and his principal would enjoy axes, and indeed prefer them, but such weapons were barred by the French code, and so I must change my proposal.

I walked the floor, turning the thing over in my mind, and finally it occurred to me that Gatling-guns at fifteen paces would be a likely way to get a verdict on the field of honor. So I framed this idea into a proposition.
But it was not accepted. The code was in the way again. I proposed rifles; then double-barreled shotguns; then Colt's navy revolvers. These being all rejected, I reflected awhile, and sarcastically suggested brickbats at three-quarters of a mile. I always hate to fool away a humorous thing on a person who has no perception of humor; and it filled me with bitterness when this man went soberly away to submit the last proposition to his principal.

He came back presently and said his principal was charmed with the idea of brickbats at three-quarters of a mile, but must decline on account of the danger to disinterested parties passing between them. Then I said:
"Well, I am at the end of my string, now. Perhaps you would be good enough to suggest a weapon? Perhaps you have even had one in your mind all the time?"

His countenance brightened, and he said with alacrity:

"Oh, without doubt, monsieur!"

So he fell to hunting in his pockets--pocket after pocket, and he had plenty of them--muttering all the while, "Now, what could I have done with them?"

At last he was successful. He fished out of his vest pocket a couple of little things which I carried to the light and ascertained to be pistols. They were single-barreled and silver-mounted, and very dainty and pretty. I was not able to speak for emotion. I silently hung one of them on my watch-chain, and returned the other. My companion in crime now unrolled a postage-stamp containing several cartridges, and gave me one of them. I asked if he meant to signify by this that our men were to be allowed but one shot apiece. He replied that the French code permitted no more. I then begged him to go and suggest a distance, for my mind was growing weak and confused under the strain which had been put upon it. He named sixty-five yards. I nearly lost my patience. I said:

"Sixty-five yards, with these instruments? Squirt-guns would be deadlier at fifty. Consider, my friend, you and I are banded together to destroy life, not make it eternal."

But with all my persuasions, all my arguments, I was only able to get him to reduce the distance to thirty-five yards; and even this concession he made with reluctance, and said with a sigh, "I wash my hands of this slaughter; on your head be it."
From A Tramp Abroad, by Mark Twain - "The Great French Duel (http://futureboy.homeip.net/twain/tramp/tramp08.html)"

[BPSCG]

She could try pretending she drowned in a canoe accident, live in secret in a small room for years, and grow a beard as a disguise.Wouldn't work. No one would believe it. She's an excellent swimmer. Plus, in nearly 80 years, she hasn't been able to cultivate even a tiny wisp of a beard.

[Just thinking]

How could the buyer's bank not detect a forgery of their own check, given just a basic standard of care? I talked with MIL this am, and she said the cashier didn't just look at the check and say, "Uh-huh, that looks like one of ours." She went back into an office somewhere and came out a few minutes later saying the check was good. Presumably, they queried the bank's online system to determine the check was good, before giving $9,000 to a total stranger.

That would pretty much convince me too that it's a good check; but if it is a forged check (and thus equates to a SCAM), just remember --- as far as the bank is concerned, it was your mom that tried to get $9K from the bank under false pretenses. So hanging on to both the cash and the truck for now seem like good ideas. (BTW, do you still have the envelope it came in and where the truck is to be sent? These may be valuable in finding out who is behind all this, as well as doing a people search to see if you can link together his address, phone numbers and whatever else for verification.)

There is one thing that flies in the face of it being a SCAM, though ... and that is if he was trying to pull one over, why would he make the payment so much over and above market value? Paying the going price or a bit more would have (in my opinion) caused less suspicion of a possible SCAM. Trying to SCAM someone should make the act as unobvious as possible --- and a check of $9K for a $2K old truck doesn't do that.

[YoPopa]

There is one thing that flies in the face of it being a SCAM, though ... and that is if he was trying to pull one over, why would he make the payment so much over and above market value? Paying the going price or a bit more would have (in my opinion) caused less suspicion of a possible SCAM. Trying to SCAM someone should make the act as unobvious as possible --- and a check of $9K for a $2K old truck doesn't do that.

The reason for making a payment well in excess of a reasonable price is to appeal to the greed of the mark. The victim is expected to expedite things before the buyer "comes to their senses".

In addition, you should never underestimate the stupidity of crooks. While they may pick up a lot of dirty little tricks from room mates in the big house they can never completely overcome their own IQ level.

I still have suspicions on this transaction. I have a couple of bank checks in my desk right now that are forgeries I received playing the scam baiter game. I showed these checks to my bank and they could not detect any problems. The fact that Wachovia cashed the check is pretty strong evidence that it's legit but call me a skeptic.

One last possibility that has not been mentioned. Did you see the ad that was published? I ask on the chance that there was a typo and the buyer thinks he is getting a 1998 truck instead of a 1968. That may have been a typo or a reading error on the buyers part. In either of those two cases there may be trouble brewing.

[bokonon]

My first thought was "stolen check," but if it's a certified check, that's not likely.

It could be some crazy rich guy, who wants to provide a nostalgic moment of some kind ("Remember, honey? This is the same truck I was driving when we met...") and your mom's truck was the only one on the market that filled the bill when the mood struck.

Or a "Brewster's Millions" scenario.

Or mistaken identity -- the drug lords filled a similar truck with cocaine as part of their foolproof shipping scheme, advertising it at an absurd price which guaranteed that only their Level-2 man in SC would attempt to purchase it, and the SC buyer got the ads mixed up because your mom was also advertising a ridiculously high asking price price.

Who knows. I'm sure you'll keep us informed if anything more develops.

[volatile]

Or mistaken identity -- the drug lords filled a similar truck with cocaine as part of their foolproof shipping scheme, advertising it at an absurd price which guaranteed that only their Level-2 man in SC would attempt to purchase it, and the SC buyer got the ads mixed up because your mom was also advertising a ridiculously high asking price price.


Thing is, I don't think that it was ridiculously high - remember, someone told her it was worth $17,000. There are so many variables with classic cars that it's plausible that this guy even got a bargain...

[Mojo]

In the UK, the banks have bounced scam cheques months after giving the cash. Then they say "give us the money back" and generally the person has spent it.


I think the legal limitation period for banking in the UK is 7 years.

[JEROME DA GNOME]

Correction: It was a 1968 Ford F-100 longbed, not F-150.

A restored 1966 sells for $17,500. Ebay motors (http://motors.search.ebay.com/_F-100_W0QQfsooZ1QQfsopZ1QQsacatZ39414QQsamcmZ6001QQs ameyZ1975QQsammkZfordQQsamsyZ1964QQsaspiZ2QQsatitl eZQ2a)

I think this is not a scam.

[bokonon]

So it could just be the "excellent condition" thing, and the $1500-$2000 sales are non-running scrap being bought for parts. You may be right.

[Francesca R]

(I don't have proof but) I don't believe these scary ideas about your MIL being at all likely to be chased up for the cash already paid to her, especially if the money is partially spent and the transaction was in good faith.

If she was a regulated financial institution there would be laws compelling her to fulfil anti money-laundering precautions and to do due diligence to know her customer and so on. But it's the bank that paid her the cash that falls into that camp. I think it is just an incredible notion that the law and the financial regulators would side with a bank over a private individual (and an elderly widow to boot)

[Just thinking]

So it could just be the "excellent condition" thing, and the $1500-$2000 sales are non-running scrap being bought for parts. You may be right.

Yes .... I have a 23 year old sports car whose book value is under 3K; but with only 32k miles without a scratch, ding or any rust what-so-ever, perfect interior and engine, it can easily sell for many times that amount.

[666]

Here's an interesting link (http://www.occ.gov/ftp/ADVISORY/2007-1.html) on Avoiding Cashier’s Check Fraud.
Many consumers have become victims of scams involving a fraudulent cashier’s check.A cashier’s check is a check that is issued by a bank, and sold to its customer or another purchaser, that is a direct obligation of the bank.Cashier’s checks are viewed as relatively risk-free instruments and, therefore, are often used as a trusted form of payment to consumers for goods and services.

[JEROME DA GNOME]

(I don't have proof but) I don't believe these scary ideas about your MIL being at all likely to be chased up for the cash already paid to her, especially if the money is partially spent and the transaction was in good faith.

If she was a regulated financial institution there would be laws compelling her to fulfil anti money-laundering precautions and to do due diligence to know her customer and so on. But it's the bank that paid her the cash that falls into that camp. I think it is just an incredible notion that the law and the financial regulators would side with a bank over a private individual (and an elderly widow to boot)

Banks spend a great deal in Washington, elderly widows not so much.

The golden rule: Those with the gold make the rules.;)

[a_unique_person]

Wouldn't work. No one would believe it. She's an excellent swimmer. Plus, in nearly 80 years, she hasn't been able to cultivate even a tiny wisp of a beard.

Hmmm, if she can't grow a beard, then the whole thing could just fall apart at the seams.

[timhau]

But why would someone be willing to pay almost $10,000 ($9,000 plus the $800 it's going to cost to ship it to SC) when he could almost certainly get one a lot closer to home for a lot less?

Are you sure about that? It's a 40-year-old car, in good condition, and for sale. How common is that combination?

[Bigt]

For future reference - this won't help you a lick here - I would insist on either a wire transfer, a USPS Postal Money Order (I think the limit is $700 for a single MO, so several would be needed) or cash via registered mail. USPS can cash the checks or at least verify that they're valid.

However, I believe Mrs. BPSCG's mom is ok despite the various caveats given. If it was cashed at the bank it was drawn on, they would have looked at the account to verify the funds before giving you any cash - banks ain't no dummies - and the check would have been processed and cleared that very night. It didn't have to wend it's way back to the originating bank since it was already there.

So I would feel safe about this.

[annexw]

Being a bit of a classic car nut, you might be surprised what people will pay for the "right" vehicle.

If the truck was the right colour, or had the right original parts, someone could be buying it to restore it or to for parts on a already partway restored truck. If the buyer was a collector, they might not have the time to fly down and collect it, or doing so isn't feasible for them.

It could also be a repair shop looking for good quality parts. Since its a Texas truck, the chances of it being as rusty as a Albertan or Seattle truck are slim.

We once had a gentleman offer us an outrageous amount of money for a old TR-6 Triumph we have rusting away in our field. He was a collector and wanted it for the engine. My father turned him down as that is his retirement project.

If it was a certified cheque, chances are good that its a good deal. Still good to get an ID from the guy picking it up if possible.

As for money order or Wire transfer, ebay warns against them for buyers. So while a good idea, they pose a whole different batch of issues.

Good luck to your Mother-in-Law, hope it all works out.

[WildCat]

We once had a gentleman offer us an outrageous amount of money for a old TR-6 Triumph we have rusting away in our field.
$50?

















:p

[annexw]

heh, cute. :) The bits that aren't rusty are blue, surely that warrants $55?

[Bigt]

As for money order or Wire transfer, ebay warns against them for buyers. So while a good idea, they pose a whole different batch of issues.


Ebay does warn against wire transfers. They're all right with money orders.

[pipelineaudio]

10k$ for a relatively straight, relatively complete pre-1973 hunk of iron is not a high price at all. This isnt 1990 where ss454 chevelles could be had for 500 bucks running. Today darts with 340's can go for 50k$. A 68 ford truck, because of its interchangeability with so many years can be cloned to any one of a number of specialty trucks from the era. Clones are big money now with collectors

[Tokenconservative]

Okay, here's the story:

Mrs. BPSCG's dad died four years ago, leaving behind, among other things, a 1968 Ford F-150 longbed pickup with about 186,000 miles on it, in excellent condition. After a few years fruitlessly trying to get a family friend to pull the trigger and buy it from her as he'd promised, Mrs. BPSCG's mom decided to sell it on eBay.

She listed it with a reserve of $15,000 (she was convinced it was worth more, because some guy had told her it was worth $17k). I doubted she would get anything remotely close to that price, because I looked at what comparable trucks had sold for on eBay, and the range was generally about $2k to $4k.

Well, the top bid she got was about $5k, but since the reserve wasn't met, the truck didn't sell. She and a friend put it on Craigslist for a while, where it sat, and she eventually took it off and put it on some antique vehicles web site.

She got a bid for it earlier this week for $9,000 - much more than I thought she would get. The buyer lives in South Carolina and is paying $800 to have it shipped there from Texas.

MIL got the bank check today, and took it to her bank. They wouldn't give her $9000 immediately, since it was from another national bank, so she took it to the bank it was drawn on. They looked it up, decided the check was good, and gave her $9,000 in cash.
Most of my brain is saying :woowoo, but about five percent is asking "Where's the scam?" The bank has ascertained the check is good, and she has $9,000 cash from a bank where she has no account that they can recover from should something untoward happen.

So where's the scam? Why should someone pay three times what the market says this truck is worth?

Keep in mind that the buyer may want the truck for reasons having nothing to do with it's real market value.

Old guys (I am one) with money to burn ($9k is nothing) will often gladly pay that for a little piece of their youth. Look at the ridiculous amounts of money these old fools pay to ride around pretending they are Peter Fonda on the back of a chopper.

Tokie

[Tokenconservative]

10k$ for a relatively straight, relatively complete pre-1973 hunk of iron is not a high price at all. This isnt 1990 where ss454 chevelles could be had for 500 bucks running. Today darts with 340's can go for 50k$. A 68 ford truck, because of its interchangeability with so many years can be cloned to any one of a number of specialty trucks from the era. Clones are big money now with collectors

Indeed. Neighbor of mine recently sold a restored (his amateur work) 1968 Mustang for $18,000.

Old men are fools. Let's face it.

Tokie

[BPSCG]

Well, it's been over two weeks now since the check was cashed, so it looks like all's well that ends well. But I still think the guy was crazy to fork over $9k for that truck.

[Tokenconservative]

Well, it's been over two weeks now since the check was cashed, so it looks like all's well that ends well. But I still think the guy was crazy to fork over $9k for that truck.

A fool and his money...remember tho, lots of people today, regardless of what you read in the left-advocacy, alarmist media, have lots and lots of discretionary income.

Stroking a check for $9k is nothing to many people.

Would GIVE me a stroke, but hey, doesn't seem to phase my wife in the slightest.

Tokie

[Lisa Simpson]

The rest of the thread has been split to here (http://forums.randi.org/showthread.php?p=3295223).