Re: When to start accepting large payments
There's no definitive marker for PayPal, but I am sure there are people from America here that can shed some light specific to the US system.
In general though, whatever the case, you're almost certain to receive some sort of reaction from PayPal to selling items of such a high nature, understandably. This could be from checking the legitimacy of your items to confirming your identity... but I can't speculate what's going to happen. Just don't rush into it, build up a consistent selling pattern and then begin to slowly introduce more high-value items but ensure that all are 100% legitimate and you have proof of inventory / stock upon request, as said, they will most likely do a random spot check on you.
The last thing you want happening is being limited with $700+ in your account, so make sure you've got documentation prepared as well. These are only a number of things consider, but read across the forum for the best advice and cases similar to yours.
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