Selling on ebay.

It's clear you don't like Ebay but it's not them taxing you. Don't forget that.

 

Log in or Sign up to hide this ad.

Yes , you do save considerably on using the click and ship feature and printing your own mailing labels BUT , it might also be a good idea to keep track of how much printer ink you are going through since refill or replacement ink cartridges cost almost more than the dang printer itself. Once you have paid for that click and print postage label , you have only 48 hours to get a refund in the event you end up not using it because your buyer canceled on you 3 business days after the end of the auction and you have advertised 1 day handling.

 

I found the cheapest place to get the printer refills ( used to refill my own) is Costco. They have a service that charges about $10 to refill a cartridge and test it while you shop. Color may be a couple of bucks more. Best thing about printing your own is the button for a Postal Pickup request. Saves the trip to the Post Office. Great for home bound guys like myself.

 

Instead of transferring the money to your bank account apply for the Paypal debit card and withdraw the money as you need it. I don't believe there is a limit of $500.00 per month.

 

I never order & print shipping until Paypal has shown the payment deposited in my account. After 7 days with no payment, I file the unpaid item with eBay. But buying postage before payment is received may not be a good idea.

 

Wrong... you only get a 1099 from someone who pays you... not someone you pay (in this case you are paying eBay).

 

I may stand corrected on the form #, but it is still my understanding that the Government is pressuring eBay to reveal gross sales of it's sellers. Actually, there may be fine print here ? I am not a CPA or an Atty, but I have heard the rumors, and believe them to be based in fact.

 

Actually, it's not eBay, but their illegimate sister, PayPal... starting this year (tax filing year 2011), any seller with sales over 20K will receive a 1099 from PayPal. Basically, the IRS is concerned with high volume sellers.
Read about it here:

http://forums.ebay.com/db2/topic/Seller-Central/You-Dont-Pay/520176750&start=0

 

I'm new to selling on ebay. You can only transfer 500 bucks a month from paypal to your bank account unless you give your Social Security card number. I bet that's why.

 

Up front fees you fool! Noooooo they are small compared to the sellers' fees...also, be worried that a lot of good, scarce gear (such as what I've been flogging like a dead horse) passes the bidders by because eBay doesn't advertise your gear all that well a lot of the time. Bottom line. Selling on eBay and making good money out of your coins is hard work and may even be unrewarding.

 

Well you don't where I come from!!

 

speaking of eBay, I was perusing the 'Bay tonight and saw this:

http://cgi.ebay.com/1961-LINCOLN-1-...em&pt=Coins_US_Individual&hash=item2c543ee21c

The guy has placed a green foil star on the slab. Apparently he thinks he's John Albanese.

 

Now that's just downright tacky.....

 

I've seen that before. I believe the guy say's that way he remembers what's good eye appeal in his stuff easily.

 

Paypal Reporting To IRS

Thanks for the reporting "link". Information divulged in the forum is vague, but seems to substantiate that Paypal will be reporting internet sales to the IRS. Paypal is not only used on eBay for sales fund transfers, but other internet sites also. I have a very active Paypal account, and tried, without success, to determine their future reporting plans. I also tried unsuccessfully to download my account transactions for the past year. It appears that although they will provide an annual accounting to the IRS, they will only allow a 3 month download to an account holder. I tried to use the link which allows specified period reporting, but that only resulted in a "time-out". Has anyone seen an official IRS preposed reporting statement from Paypal. Just another reason to avoid Paypal, as the known IRS policy for taxation, if proof of purchase date, price can't be provided, is to tax the entire sale as if the item was received free. State taxes are often directly linked to Federal reporting, possibly resulting in a taxation level greater than >40% of net sales.

 

I just got nailed on the new postage rates ! I offered a coin for $0.99 shipping. Sold the coin for a couple of dollars, but when I went to get the postage, first class envelope was no longer available ! Ended up spending $2.43 to mail the item. Add the Paypal fees of $0.37, my insert fee of $0.15 and final value of $0.28 comes to $3.23. Plus the $0.30 for the packaging and I am up to $3.53 cost for a $3.25 coin !! Sales total of $4.24. I am not selling another coin on eBay unless I add $5.99 for shipping & handling. I don't $0.99 that badly. LOL

What a rip off !

 

There is no stranger filling than paying people to take your valuables

 

That's the truth ! I wouldn't mind so much, but this feels like a total robbery ! Of course, there isn't any other way for me to try and build my collection, unless I sell some. And, I am restricted greatly on how I can do that. But at this rate I will be long gone before I can make enough to but another coin. LOL

Maybe I should wait until I need a tax shelter and give them all to a non-profit at FMV ?

 

Got an ebay question. I don't charge that much for S&H----50 cents for first class mail, and 1.25 for parcel post. This guy won two of my auctions, and he's demanding I combine the shipping and mail them together. I'm new to this and have sold over twenty items in two days. I have a hard time remembering my name sometimes, I don't know from one minute to another who bids and who wins. As soon as somebody wins, I send it out. Am I obligated to combine shipping? Maybe in the future, when I get the hang of things, I can worry about that, but I already shipped one of his coins out before he won the other.

 

You are under no obligation whatsoever to do anything other than what you said you would when you listed the items. I understand shipping things out right away, but get the money first. As to the combined shipping, just tell him that you are happy to do that, but you require multiple shipped items to be insured at the buyers' expense.

That sounds pretty fair and the insurance will likely be more than the additional shipping costs. This way, you aren't refusing to combine items. But, if someone wants to rip you off, why not get more coins in the same order ?

Of course, you can always say "Sorry, but for security reasons, we cannot provide combine items for shipping".

Shipping is quickly becoming the killer. I certainly cannot sell a very reasonable item and be fair to the buyer & myself with the costs as high as they are. No wonder, with all the collectors that feel winning is getting the better of somebody and the high costs of selling lower end items, that this is a dying hobby. Only very expensive coins are worth selling, and what youth today can start out doing that ?