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Buying and Selling on eBay: Tips, Tricks, Problems & Questions - Page 395

post #5911 of 15178
+1

Simply put. If you are selling your own personal stuff, which was purchased at retail and sold for a loss, you don't need to file. On the other end if you are selling for profit, which I hope you all are, you need to file. No matter how small the profit is.

I would imagine a red flag being raised when you finally do hit the paypal 1099 mark. "Oh hey. Look at this guy, he sold $20,000 in his first year if selling on eBay. Must have a knack for it." Remember a tax auditor can search through previous tax years. Hate for anyone to find out the hard way that they should have been paying all along.
post #5912 of 15178
Just going to keep rolling those dice... peepwall[1].gif
post #5913 of 15178
Quote:
Originally Posted by chiron View Post
 

 

Your listing info looks great but the pics are so so . Before investing in a new camera , lighting or anything else . I would recommend you list with a consignor for the "Holiday" season to get some sales and build your thrifting skills. They might not want to list everything you have but will list the SC you listed . You will pay a commission but will not have to worry about pictures (staging) , pricing or shipping. As a new seller these three areas will be your weakest . After a few months If you find that it is worth your money to invest in a lighting , camera ect... then go ahead.


Thanks a lot! I do agree with most of what you wrote. I thrift for myself but every once in a while I see something nice that's not my size and think maybe I can flip it. That's where I am at this point. Grad school takes up most of my time so I don't think I can devote any more time to this hobby. Consigning is a great idea. I actually ran this jacket past a consignor but he wasn't interested in it, which is why I decided to have a go at it myself.

 

As far as the pictures go, the issue isn't the camera (gf's very nice Nikon DSLR) but my lack of skill.

 

BTW, that is not a tag in the 8th picture, that's a booklet that came with the jacket. Contains the usual brand propaganda.

post #5914 of 15178

Hey fellas,

 

So in my first round of ebay sales I hadn't yet read this thread. I have made lots of adjustments to my process since then, including tracking shipments and not selling outside north america, but ...

 

I sold a cashmere sweater to a woman in Bulgaria on Sep 3 and shipped it the cheapest way possible, which did not include a tracking number. Was informed at the post office that this method of shipping would take between 6-8 weeks to arrive, so I let the buyer know that (I'm in Canada). Fast forward to week 5, and she has already messaged several times wondering where the sweater is, to which I've responded "Hey, thanks for your patience, We said 6-8 weeks, it's been 4, etc.etc." This morning, which is day 1 of week 5, she opened an item not received case.

 

She said that if she gets the item, she'll close the case.. but my general understanding is that barring that particular miracle of generosity and circumstance, I'm probably going to eat it because I didn't track the item, right? Is there any chance of Paypal saying 'well the seller has consistently told you since it shipped that it would be 6-8 weeks so this case is premature?' Is there anything you guys would suggest I do?

post #5915 of 15178
Quote:
Originally Posted by freshnewbeats View Post
Is there any chance of Paypal saying 'well the seller has consistently told you since it shipped that it would be 6-8 weeks so this case is premature?' Is there anything you guys would suggest I do?

Unfortunately, I think you're SOL. I made the same mistake when I started selling (I assume you sent via Surface), but from the customer's perspective, as much as it'd be nice to give you the benefit of the doubt, the expected delivery frame (42-56 days) is larger than the Paypal claim-filing frame (45 days), so they want to get their case open while it's still openable. As much as Canada Post shipping costs are awful, shipping via methods in which you don't cover yourself will come back to bite you in the rear on occasion.

That said, I still ship via non-tracked methods if the item value is relatively low and the buyer has lots of feedback, and haven't been burned that way yet, but still never surface as it takes too damn long internationally. While it may limit your prospective buyers to have such a high shipping costs, it's the reality of selling via mailorder in Canada. The nice thing is, the recent-ish US postal rate hike has actually made us a fair bit more competitive to int'l customers.

post #5916 of 15178
Quote:
Originally Posted by capnwes View Post

+1

Simply put. If you are selling your own personal stuff, which was purchased at retail and sold for a loss, you don't need to file. On the other end if you are selling for profit, which I hope you all are, you need to file. No matter how small the profit is.

I would imagine a red flag being raised when you finally do hit the paypal 1099 mark. "Oh hey. Look at this guy, he sold $20,000 in his first year if selling on eBay. Must have a knack for it." Remember a tax auditor can search through previous tax years. Hate for anyone to find out the hard way that they should have been paying all along.

 

+2, except that I did actually start this year... :nest:

 

I must be approaching $30k in sales for the year. I have to step this up a notch!

post #5917 of 15178

Quick tip to those who buy from thrift stores and flip for profit on eBay who are pretty new and lurk for information like I did at one point.

 

Don't thrift everything Spoo thrifts thinking it'll net you profit. I learned that a while back and still have a hard time passing up thousands Bert Pulitzer ties because "what if..."

post #5918 of 15178
Quote:
Originally Posted by Steve Smith View Post

There are a lot of non-business-savvy types who read this thread and rely upon it for advice. All of you should note that the advice from Acme above is tax evasion (aka tax fraud), which is a criminal offense in the US. That is a gamble that I would advise you not to take.
 

 

Here are some other great tax info resources for ebay sellers .

 

IRS

 

Tax Tips for Online Auction Sellers

 

Online Auction Sellers Tax Center

 

 

ebay

 

Tax time - Be Smart TOP 5 ways tips to avoid IRS Audit

post #5919 of 15178

I found some pants I had bought a long time ago, 3 pairs of identically sized pants obviously from the same owner, in black, dark grey, and middle grey. All from a well known designer's fall/winter line, they should sell somewhat easily.

My question is, do you guys think I'd net more selling them separately, or all three together? I figured it might be appealing for someone to score their entire fall pants wardrobe in one fell swoop (and of course it would be much easier sending them all to one place). 

post #5920 of 15178

how likely is it to sell a kiton shirt or isaia shirt with embroidery on it. theres 2 small initials, but rather on a cuff or pocket, its  on the lower chest portion of the shirt. any ideas if this is worthwhile on the bay?

post #5921 of 15178
Quote:
Originally Posted by gerbilunit View Post

how likely is it to sell a kiton shirt or isaia shirt with embroidery on it. theres 2 small initials, but rather on a cuff or pocket, its  on the lower chest portion of the shirt. any ideas if this is worthwhile on the bay?

In my experience a monogrammed shirt will sell at roughly 60% the price of a non monogrammed shirt.
post #5922 of 15178
Quote:
Originally Posted by hbkshin View Post

Quick tip to those who buy from thrift stores and flip for profit on eBay who are pretty new and lurk for information like I did at one point.

Don't thrift everything Spoo thrifts thinking it'll net you profit. I learned that a while back and still have a hard time passing up thousands Bert Pulitzer ties because "what if..."


So are you predicting that my upcoming ebay "Pulitztravaganza" is destined for failure?
post #5923 of 15178
Quote:
Originally Posted by Evil Abed View Post
 

I found some pants I had bought a long time ago, 3 pairs of identically sized pants obviously from the same owner, in black, dark grey, and middle grey. All from a well known designer's fall/winter line, they should sell somewhat easily.

My question is, do you guys think I'd net more selling them separately, or all three together? I figured it might be appealing for someone to score their entire fall pants wardrobe in one fell swoop (and of course it would be much easier sending them all to one place). 

 

You'll definitely do better  listing them separately, based my experience.

post #5924 of 15178
Quote:
Originally Posted by hbkshin View Post

Quick tip to those who buy from thrift stores and flip for profit on eBay who are pretty new and lurk for information like I did at one point.

Don't thrift everything Spoo thrifts thinking it'll net you profit. I learned that a while back and still have a hard time passing up thousands Bert Pulitzer ties because "what if..."

Quote:
Originally Posted by Steve Smith View Post

So are you predicting that my upcoming ebay "Pulitztravaganza" is destined for failure?

LOL

Dont label me a Pulitzer specialist now bro!
post #5925 of 15178

I was looking for a "black tie" when this turned up. I see this seller's listings all of the time, usually touting "EXQUISITE" '90s low-gorge 4-button Canali unvented orphan jackets for $350. I thought that all might get a kick out of this $5,000 Armani tie. Yes, that's not a seller's typo--it's actually listed at $5,000. (A beautiful one-picture listing without even a shot of the whole tie.) Why is it five grand? Because, "i dont really want to part with this one.."

 

Oh, and it's $5,000 plus $30 shipping. So for $5K the seller won't even throw in shipping. He'll go one further and actually overcharge you for it.

 

 

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