Originally Posted by capnwes
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.
I, like quite a few here, I'd imagine, are well over 20k in their first year of this.
Originally Posted by hbkshin
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..."
If you're in a high fashion wasteland, you should get what you can. The only reason I find half the stuff I do is because I probably spend 8 hours a week in thrift stores. Add in listing and I have a solid part time job/addiction.
Originally Posted by Evil Abed
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).
High fashion, and you may be better off selling one by one. Staple, maybe better in lots. I just sold 3x Brooks pants 34/32 Black, Gray, Khaki a couple hours after listing as a lot for $110.
Originally Posted by gerbilunit
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?
If you are risk averse, sell as is. If you like to gamble, see if you can get the embroidery off. Also, on the Isaia, make sure the "initial" isn't actually shaped like a piece of coral.
This was for a $135 jacket. Have another case I "lost" that they said they would reverse when the item is returned.
Good on ya!
My $450 chargeback was reversed this week too. Had to call PayPal, didn't happen automatically, but it happened, and that's what matters.