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

Discussion in 'Classic Menswear' started by HansderHund, Jul 27, 2012.

  1. capnwes

    capnwes Senior member

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    To be accurate,

    We owe the government (federal, State and local) taxes on ALL income.

    1...
    Paypal sends 1099K to sellers who receive 200 business transactions totaling at least $20K
    BEWARE....Just because you are under the line, doesn't mean you don't pay taxes.

    1a...
    Keep good records, VERY IMPORTANT

    2...
    See 1a.
     
    Last edited: Nov 7, 2013
  2. SpooPoker

    SpooPoker Internet Bigtimer and Most Popular Man on Campus Dubiously Honored Affiliate Vendor

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    I should put my wife on the thread. She's the COO of LuxeSwap. I just find pretty shit and make not so pretty shit look pretty.
     
  3. k4lnamja

    k4lnamja Senior member

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    Define "good" records.
     
  4. BlackChiney8

    BlackChiney8 Well-Known Member

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    What happens in the case of a seller not wanting to ship an item that was got at an incredibly low price? I recently won a sport coat at 20$. The seller seems to either be taking his sweet time to ship (it's been a week), and has not responded to any emails. It could be possible that he was going away but did not specify on his store or listing. I'm wondering this because it seems that in these cases the seller just will be slapped on the wrist and the buyer will lose out on the item although the contract of sale should be binding. It has happened to me before where I've purchased a tie for a very low price and the seller claimed that he "could not find the tie" he had listed. It's dishonest but I'm sure it happens all the time. I just don't understand why you wouldn't put a reserve price or start the bidding at a higher price if not willing to sell at a low price if the auction ends. For those such as Spoo, I know your starting prices are always very low but I wouldn't doubt that you honor every agreement even if an item goes for cheap.
     
    Last edited: Nov 7, 2013
  5. SpooPoker

    SpooPoker Internet Bigtimer and Most Popular Man on Campus Dubiously Honored Affiliate Vendor

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    Each and every one. Ive walked Kitons for 20 bucks, RLPL suits for 50. It happens, not often, but each and everyone is a thank you come again.

    In your case, file an INR case ASAP.
     
  6. SpooPoker

    SpooPoker Internet Bigtimer and Most Popular Man on Campus Dubiously Honored Affiliate Vendor

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    Sales, returns, expenses. Receipts for errythang. gas, food, inventory, labels, shipping, usps receipts, etc.
     
  7. masaccio

    masaccio Senior member

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    I was in a similar spot twice in the past month. In both of my cases I ended up getting the items. In one case it was a full month from auction close to receiving the goods. Zero response to messages until after I received the items. It was very frustrating, as you must know.

    I don't know of any recourse, other than negative feedback. If a seller claims the item is lost, EBay has no way of verifying it. Even if the seller were to relist the item in the future, he could always just claim to have "found" it.
     
  8. BlackChiney8

    BlackChiney8 Well-Known Member

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    You're right. I would believe it would be better to cut my losses and make attempts to get my money back since the seller has gone incognito. I have sold things as well and have taken losses but it was all in honoring the contract and being ethical about my sales. Not to beat a dead horse but put a reserve on the item if you're afraid of taking a loss!
     
  9. k4lnamja

    k4lnamja Senior member

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    uh oh ...
     
  10. BlackChiney8

    BlackChiney8 Well-Known Member

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    He also sold a navy Canali sport coat that went for $15. So let's see how this guys feedback will fare in the near future.
     
  11. Snoogz

    Snoogz Senior member

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    share the seller? [​IMG]


    feel to send a PM [​IMG]
     
  12. Fueco

    Fueco Senior member

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    To clarify this...

    You don't need to track gas, food, portion of rent for home office, etc unless you are planning to claim deductions on your taxes.

    My records for this year include sales returns, expenses, labels, shipping, etc. The rest will wait until next year.

    If you're going to get serious, serious do track EVERYTHING! For 2014, I'm going to be switching to an automated system (Quicken or similar) to track expenses, income, etc.... I need to maximize what I can write off and really see how my business is going. It's a bit of a clusterf**k right now...
     
  13. Fueco

    Fueco Senior member

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    Make your listings stand out! I know one of these did...

    [​IMG]
     
  14. hooker4186

    hooker4186 Senior member

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    How detailed are you on USPS receipts or thrift receipts, as usually the receipt just reads "men's shirt" or something?

    I will file all my eBay income and have all my receipts from this year and a detailed spreadsheet of item sold, shipping/thrift costs on each item and my net profit, but am wondering if that will be enough.

    I'm not too stressed as my sales aren't anywhere near 20k but would like to do better with my audit trail next year.
     
  15. capnwes

    capnwes Senior member

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    [​IMG]
     

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