Silk Road forums
Support => Technical support => Topic started by: leroy99 on May 16, 2012, 09:02 pm
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I am curious as to how the refund rates work?
I ask this because on my stats I have 62 orders, 3 of these did not arrive in each case I got a 50% refund from the vendor I felt this to be a a fair way of doing things. My auto-finalise rate is 0% but my refund rate is 18.02%! To me this seems an incredibly high number, when with 3 out of 62 I would view my refund rate as 4.83%.
I suppose I am scared that vendors could read my purchasing stats and see 18% as a number that would cause them to refuse service to me thinking I could be out to scam them or something? It just seems really high to me!
I am speaking to the vendors in this thread mostly, when looking at a buyers purchasing stats how would you see this number? And what number to you would cause you to refuse the buyer?
Cheers,
Leroy
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I think dollar volume is taken into account, so if the orders were larger they will hit the stats more. I also think it's front-weighted, but you might want to message SR Support and ask about the specs. Could always be a calculation error and they can fix it up for you, too. Does seem a bit high....
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perhaps it is the money ammts. i just checked my buyer stats because i just had to recieve my first refund. i have under 50 transactions with a fair bit of coins spent and with one refund my refund rate is 4 percent. the refund i recieved for was a transaction that was less expensive that my typical purchases. was the 3 items u got refunded more expensive than your typical purchases?
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I think the way it works is that your most-recent transactions are weighted more heavily than earlier ones. After one 75% refund (agreed upon by vendor), and 10 prior successful transactions, my refund rate jumped to 15%, although the refunded order was for a dollar amount less than average. After I had another successful transaction (again for a not especially high dollar amount), it dropped down to 9%.
And yeah, some vendors will cancel your order due to refund rates - my next order did, but let me re-order once I explained my situation (and I gave him a link to a forum thread where I had already expressed concern about how that transaction was going). So probably best to send the vendor a PM before ordering explaining your situation. And this isn't that bad of a thing, if you're dealing with a new seller, it's a good way to gauge communication on their end, while explaining yourself at the same time.
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Thanks for the replies everyone!
I can see now that the reason it may be so high is because the refund I got was very recent and was for quite a large purchase :( No one has asked me to cancel yet but one vendor has asked me to finalise early because of it. I suppose the only option at this point is to keep on spending bitcoin to bring it down :)
I can't help thinking though that maybe it would be better in the purchasing stats to show the number of items you have received refunds on in addition to the refund rate, that way vendors could more accurately see how a buyer conducts their purchases, i.e. A person who has made lots of small refunds to total up a big refund rate as opposed to someone unlucky enough to require a refund for a big purchase
Thoughts?
Leroy
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Thanks for the replies everyone!
Hey Rastafari: this is just my personal view but for small purchases under 10 BTC if an item doesn't show up before automatic payment or resolution but the vendor has a very good reputation I will take the risk and FE. It's just not worth the time and hassle to wait for SR resolution just to end up with 5 BTC. Also,IMO it isn't worth tarnishing your purchasing stats. Stats are like a credit rating: if your credit isn't good vendors will be less likely to trust you.However, as a form of protection I state the situation on the customer feedback " F/E but still waiting. Will update" and I'll leave a 4 out of 5 to show my displeasure. That number will decrease the longer I wait. No serious vendor is going screw up their feedback over 10 Btc's.
Mind you I did FE just yesterday for Professorwak despite not getting his parcel: but he has earned my trust. I realize the risk but if I end up getting burned I am not going to cry like a baby about it. I can man up and accept the loss b/c it was my decision.Despite being one of many who fell for the Tony 4/20 FE scam I believe that sometimes you need to give some people the benefit of the doubt. Circumstances can be due to slow mail service . However, this vendor is the exception to the rule: I will never FE for anything over 10 Btc's, other vendor's that I don't know, are new, or who is inconsistent with regards to customer service (VMM or heisenberg) despite their good product.
Anyways bro later. Peace and praise Jah. :)
p.s. Bob Marley was a good man. My fave rasta band: the Congos.
I like Lee Scratch Perry too.
"Drug misuse is not a disease it's a decision:
like the decision to stand in front of a moving car."
Phillip K. Dick
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Another option would be to prolong the due date in the resolution center. That way you still have the option to finalise if the order arrives later then it should have.