Any ebay sellers here?

[COcheesehead]

Quote:

Originally Posted by captain3d Two weeks

That’s not normal. What’s the whole story?

[COcheesehead]

Quote:

Originally Posted by ShokWaveRider eBay, Venmo & Paypal will have to report anything over $600 to the IRS in 2022, forcing one to file a Schedule C. Easier to sell you used stuff on Local Facebook and Craigs list.

As someone else said up thread, technically you still need to report income no matter where you get it. I get cash tips in my part time gig and I report them. I would hate to have small things exposed in an audit because then they can keep digging. FB also records sales so there is a paper trail if the IRS wants sot pursue it.
FB is OK to sell stuff, but Craigslist is a disaster. Little traffic and full of weirdos. At least on FB you can see who you are dealing with.

[disneysteve]

Quote:

Originally Posted by ShokWaveRider eBay, Venmo & Paypal will have to report anything over $600 to the IRS in 2022, forcing one to file a Schedule C. Easier to sell you used stuff on Local Facebook and Craigs list.

I sell on ebay and Facebook Marketplace. I also give things away on our local Buy Nothing group. They each serve a different purpose. The things I sell on ebay would be highly unlikely to sell on Marketplace.

[iloveyoga]

Quote:

Originally Posted by COcheesehead EBay takes about 10%. Listings for most items are free. The post office gives you the Priority packaging for free. Anything you sell is almost like free money.

I think I missed the notification from eBay, but their cut is now 12.5% or thereabouts plus 30 cents per listing.

[COcheesehead]

Quote:

Originally Posted by iloveyoga I think I missed the notification from eBay, but their cut is now 12.5% or thereabouts plus 30 cents per listing.

I based my 10% number on my most recent sales. It varies, but 10% ish has been my experience.

[disneysteve]

Quote:

Originally Posted by COcheesehead I based my 10% number on my most recent sales. It varies, but 10% ish has been my experience.

You all must be selling different stuff than me. I just pulled out my last 6 sales. Here are the percentages that ebay's fee represented for each:


18.8%
14.0%
17.6%
15.5%
19.2%
16.6%


Are you including the fact that they charge a fee on the postage, not just on the item price?

[COcheesehead]

Quote:

Originally Posted by disneysteve You all must be selling different stuff than me. I just pulled out my last 6 sales. Here are the percentages that ebay's fee represented for each: 18.8% 14.0% 17.6% 15.5% 19.2% 16.6% Are you including the fact that they charge a fee on the postage, not just on the item price?

Wow that is high. My January numbers were in the 8%-10% range.

[disneysteve]

Quote:

Originally Posted by COcheesehead Wow that is high. My January numbers were in the 8%-10% range.

Maybe we're doing the math differently.

Sale with shipping $13.49
ebay fee $2.09 = 15.5%

Sale with shipping $16.45
ebay fee $2.90 = 17.6%

Sale with shipping $54.95
ebay fee $7.83 = 14.2%

[captain3d]

Quote:

Originally Posted by COcheesehead That’s not normal. What’s the whole story?

All because I have not sold in a while. One year maybe. Plenty of buying and no problems otherwise.

[disneysteve]

Quote:

Originally Posted by COcheesehead Wow that is high. My January numbers were in the 8%-10% range.

I was really curious about this comment so I finally checked ebay's fee schedule.

For most categories, the fee is 12.55% plus $0.30/item.
For books, movies, and music, the fee is 14.55%/$0.30 per item.
For sports and trading cards, the fee is 12.35% plus $0.30/item.

There are a couple of niche categories that have a fee less than 12.35% but the overwhelming majority of items fall in the 12.35 to 15% range plus the $0.30/item.

The fee does drop significantly on very expensive items. The portion of sales over $7,500 is only 2.35% (but the first $7,500 is still 12.55%).

Here is the full fee schedule:
https://www.ebay.com/help/selling/fe...uliers?id=4822

[11522914]

Quote:

Originally Posted by disneysteve I was really curious about this comment so I finally checked ebay's fee schedule. For most categories, the fee is 12.55% plus $0.30/item. For books, movies, and music, the fee is 14.55%/$0.30 per item. For sports and trading cards, the fee is 12.35% plus $0.30/item. There are a couple of niche categories that have a fee less than 12.35% but the overwhelming majority of items fall in the 12.35 to 15% range plus the $0.30/item. The fee does drop significantly on very expensive items. The portion of sales over $7,500 is only 2.35% (but the first $7,500 is still 12.55%). Here is the full fee schedule: https://www.ebay.com/help/selling/fe...uliers?id=4822

Maybe they have an eBay store where the fees are reduced.

[disneysteve]

Quote:

Originally Posted by 11522914 Maybe they have an eBay store where the fees are reduced.

Ah, that could be. I don't know how ebay stores work.


I just knew something didn't makes sense about him saying he was paying 8-10% when my fees YTD are averaging 16.7%.

[11522914]

Quote:

Originally Posted by disneysteve Ah, that could be. I don't know how ebay stores work. I just knew something didn't makes sense about him saying he was paying 8-10% when my fees YTD are averaging 16.7%.

I don't know how much you sell but may be beneficial to open a store and pay for a month.

I used to sell years ago higher priced items. I would calculate what my fees were if I opened a store for one month and just listed everything for sale.

Saved quite a bit in fees.

Don't know if that option is still available so YMMV.

[disneysteve]

I thought I'd bump up this thread. I started it in January 2022 when I was just starting to ramp up my ebay selling as I prepared to cut back my working hours.

I ended up grossing nearly $14,000 in sales for 2022 which I was quite pleased with. Net profit was just over $10,000. Not a bad side gig at all and I really enjoy doing it.

When I started the thread, I had 50 items listed. I now have 300 and make sales nearly every day, sometimes multiple sales per day. I've also gradually focused on sourcing higher priced items. My highest sale was $610 with one for $499, one for $365, and numerous others over the $100 mark. That's great because it allows me to make the same or more with fewer transactions and less work. I still make plenty of $20 and $30 sales too as that keeps things moving but I try to find more better items when I'm out sourcing.

How is everyone else doing with ebay and other online sales platforms?

[CaptTom]

Thanks for circling back and filling us in on your progress!

Without re-reading the whole thing, did you ever mention how you're sourcing your merchandise?

We had a yard sale a few weeks ago. One guy was looking at everything, then stopping to look up items on his phone. We assumed he was checking to see what he could get for each item on eBay. He bought quite a few odd-ball items.

[disneysteve]

Quote:

Originally Posted by CaptTom Thanks for circling back and filling us in on your progress! Without re-reading the whole thing, did you ever mention how you're sourcing your merchandise? We had a yard sale a few weeks ago. One guy was looking at everything, then stopping to look up items on his phone. We assumed he was checking to see what he could get for each item on eBay. He bought quite a few odd-ball items.

I source primarily from estate sales. I started checking them out in February 2022 and quickly learned that for the types of things I like to sell, they are a gold mine. I still do some yard sales and thrift shops but the vast majority of my stuff is from the estate sales. I also learned about a good freebie app (Freebie Alerts) and have gotten numerous things through that for resale. You can't beat free.


And yes, the guy at your yard sale looking things up was checking values. I try to avoid being super obvious when I do it at yard sales but I do it openly at estate sales where most of the customers are resellers like me.

[COcheesehead]

Last year we did $2500 ish which is little lower than our typical $3000- $5000 ish/ year in sales. So far this year we stand at $597 in sales. I plan to keep it there. The next sale triggers a 1099. I didn’t use to worry about things like that, but now I do.

[mebden]

I stopped selling completely but I do buy from it once I find a good deal. Like I said in my previous post when they had to start issuing tax forms I quit and fees are getting ridiculous

[disneysteve]

Quote:

Originally Posted by COcheesehead Last year we did $2500 ish which is little lower than our typical $3000- $5000 ish/ year in sales. So far this year we stand at $597 in sales. I plan to keep it there. The next sale triggers a 1099. I didn’t use to worry about things like that, but now I do.

You’d rather not make any more money than include a 1099 when you file your taxes? What sense does that make? You have to file anyway. What difference does it make if you have a 1099 or not?

[disneysteve]

Quote:

Originally Posted by mebden I stopped selling completely but I do buy from it once I find a good deal. Like I said in my previous post when they had to start issuing tax forms I quit and fees are getting ridiculous

I don’t understand the tax form issue. I’ve been selling since 1986. I’ve been filing taxes since 1986. Last year was the first time I got a 1099. It made absolutely no difference except for having to include it with my return. Why would that keep anyone from selling?