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I've sold 9 sites on Flippa in the last year-and-a-half or so. 7 in the $x,xxx range and 2 in the $xx,xxx range. I've bought a few sites in the $x,xxx range too. 4 or 5 if memory serves correctly.
Overall, the process has been pretty painless. As painless as can be expected, I guess.
There are plenty of idiots there, that's for sure. And a lot will waste your time so that's something to watch out for.
Make sure you talk to the buyer/seller on the phone BEFORE the deal is done on the site if possible. This is my #1 rule. I'd rather lose a sale or pass over a site if I haven't spoken to the buyer/seller on the phone. Scammers don't like to talk on the phone most of the time. Of course, there are exceptions but it does a pretty good at weeding out the majority.
Also, one thing that I've found that makes sure the buyer/seller and I are on the same page is I print the auction, sign it, overnight it to the buyer/seller so they can sign it, copy it, and mail me back the original. This won't protect you legally in the slightest bit, I imagine BUT it's just another thing scammers will NOT want to do. Real people that want to do real business will typically be relieved to hear that's the way you want to do business. Now you both have each other's addresses, each other's phone numbers, and each other's John Hancocks. It's quite a bit more personal than just clicking "Buy" on a web page and makes it more "real" than most online transactions.
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