The SoleSavy community is made up of amazing members like yourself, but there's always a slight chance that things will go south when you're selling sneakers. To avoid risking the loss of your money and your sneakers, we strongly suggest you use PayPal. Unlike apps such as Venmo, Cash App, or Zelle, PayPal has been proven to be by far the safest option to ensure that your money and sneakers stay safe.
However, there’s a very specific way of using PayPal that gives you complete coverage when selling your sneakers. That feature is PayPal Invoice.
In this article, you'll learn:
How to get started
To begin, log into your PayPal account. Inside your account, you'll see the option of requesting money, and on the sidebar, you’ll see an option to create an invoice. Once you click the invoice button, you’ll be taken to a page where you’ll be able to fill out a detailed invoice.
What is PayPal invoice
A PayPal invoice is basically a detailed document that outlines what exactly you are trying to sell. For example, with sneakers, you would write in every detail of the sneaker you are selling so that in the event of an attempted scam, you have proof of what was included in your invoice.
You should include:
– the model name (Nike x Off-White Air Max 90)
– the size (Size 8)
– the condition (Deadstock)
– the price ($600)
What does it do?
The invoice basically gives you a form of insurance, known as PayPal Seller Protection. As mentioned above, in the event of a scam, you will make sure you don’t lose your money. This also protects the buyer as well. So you want to ensure you properly document the tracking number, condition etc.
Typically, the type of scam we’ve seen in the past is that the buyer will open a claim with PayPal stating they never made the transaction, or the item wasn’t as described by the seller. They are common scams, and if you didn’t use PayPal invoice, you would lose your product and your money. It's also important to take pictures of the product before you ship it!
How to Send an Invoice
After you've added in all of your buyer's details like their PayPal email, address, etc, you're ready to hit send.
You will later be notified of when the buyer has paid your invoice.
How to get your money quicker
PayPal will hold funds once you've been paid. However, if you add a tracking number to the sale, PayPal will deposit the money within 24 hours of the tracking number being updated. Here's how to add the tracking:
Click Activity at the top of the page.
Click the transaction you'd like to update and then Get your money.
If you sold products and have a tracking number, select Product and add the tracking information.
Click Submit.
Once you click 'Submit', the buyer will receive an email notifying them that you entered the shipment tracking information for this transaction. The email includes the tracking number, order status, and shipping company.
Is there a fee?
Yes, you will get charged a small transaction fee for using PayPal invoice, however think of it as paying for Insurance for your transaction. Currently the fee structure is 3.5% of the amount of sale. We recommend that you split the fee with your buyer, but of course, that's up to you and the buyer.
Unless the buyer is a close friend, a family member or someone you know and trust, we strongly recommend that you 100% use PayPal invoice. There has been countless times where sellers have been scammed out of their money and product, because they decided to not use an invoice and that resulted in the buyer taking advantage of the situation.
Things to keep in mind, you are NOT protected by PayPal’s seller guarantee unless you’ve used an invoice.
You can also use this same strategy when BUYING sneakers. Just make sure your seller give you an invoice so you have buyer protection as well.
Please email us if you have questions or reach out to your community leaders. You can also ask your community to witness your sell. You can never be too safe when selling an expensive pair of sneakers.
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