I am speaking only for myself, not as a representative for all model boat supply sellers and buyers.
My common glow plug shipment is $25,000 to $30,000. My common order for other items, such as headers, cable nuts, remote needle valves, etc. is 200 parts for each item. This keeps my cost as low as possible. I can pass on the low costs to the model boater and that keeps my prices low. Plus, I keep my markup low as well in support of the hobby.
I do not keep that kind of cash on hand, so I use a bank letter of credit. I pay about 6% interest on the letter of credit balance. As the product sells, I pay down the letter of credit. So, slow, late or non-payment can be problem.
I have just sent out reminder letters to people that either have not paid me or their payment was lost. Out of more than 200 sales in 2021, I only have to remind 6 people about an open invoice. And, it is quite possible that their payment was lost in the mail. A very few people were reminded earlier and have decided to pay. The total amount involved adds up to more than $1000.00.
Some people have mentioned that it is crazy to sell an item before being paid. Like many of you, I have sent payment to a person advertising on IW, and never received the item I paid for, or received junk in return. My opinion has been that I will never be known as someone who does not supply after being paid.
The simple way to alleviate non-payment is to take credit cards or PayPal. I did that for a while, but with the discounts and monthly fees, I could not justify it considering the volume of my sales. It's been suggested to tell my customers to use family and friends to avoid PayPal fees, but I am not about to ask someone to lie for me. So, to offer credit cards or PayPal, I would have to raise my prices to everyone, including on more than 200 sales that paid me promptly with no difficulties. I do not think it is right to raise my prices to everyone else because of a few slow pays.
First of all, my best friendships came through model boating. It is a great hobby and I definitely want to support it the best I can. I will not let a few people sour me on model boating either because of their behavior at the pond, or any other reason.
So, I will continue to offer the best products I can at the lowest prices I can. I trust model boaters and will ship the items with an invoice. But, I will post the names of those people who refuse to pay me.
Al Hobbs