Selling a bike -- safe payment methods?

 When selling a bike for more than a trivial price (say over $500), how can I
best ensure that the transaction is legitimate?  I have this recurring
thought of selling my bike to an honest-looking fellow, only to later find
out that his payment was counterfeit and my bike is long gone.

My bank tells me that they don't handle escrow for stuff like this, but I've
had an idea on how to use them as an unofficial escrow.  I need to check
with my bank to verify one little assumption I'm making with that idea.

Anyway, I'm curious about how other folks deal with it.  I've bought and
sold cars and bikes for chump change and never worried about it, but getting
screwed on a $5k bike would put some real hurtin' on us.

Oh...if anyone cares, this is because my wife and I have decided to sell her
Silverwing to defray the cost of her new Concours.  I went ahead and put it
on the market now, although I don't really expect to find a buyer before
spring.

Thanks,
-Scott
--
'73 CB450K
'82 CB900F (x2)
'04 FSC600 (SWMBO)
'01 ZG1000 (SWMBO)

 

Perhaps cash?

 

My first choice would be a combination of cash plus a cashier's
check from a local bank that's known to you.  You can always
call the bank at the time you receive the check, too, just to confirm
that it is genuine.  Tell the prospective buyer up front that that's what
you're expecting, and they should have no problem with that.


Bob M.

 
As others have suggested, cash.  Or, if that's not an amount of
cash you feel comfortable with, a cashier's check for the exact
amount of the sale, drawn on a local bank.

The usual cashier's check scams involve a bogus check far in
excess of the purchase amount and the buyer usually requests a
refund of the difference in cash or as another cashier's check.

Bill

 

You can print a cashiers check on your computer with the right software,
that
looks completely legitimate.

Ted