Auctions on auctionzip or other online auction places
Larrob37
Posts: 218 ✭✭✭
I have viewed a few of the coin auctions on auction zip and have mixed thoughts. I am grateful that some relatively rare coins are available to buy. I am also disappointed that most auctions have a starting bid or reserve instead of letting the coin find its own price. I am also disappointed by the grades these auction houses give coins that are so far off as to be comical. Very misleading as I think most buyers are at least looking at the suggested grades as at least a guide. Not to mention 25% buyers premium and tax and shipping. Does anybody here have a auction site they have purchased from and would recommend.
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Ebay....no buyer premium & small time sellers do not charge a sales tax.
The sales tax IS CHARGED for all sellers. It's based on where the bidder is, not the seller.
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Heritage
Great Collections
Stacks
Ebay
David Lawrence
Ebay used to be mostly true auction, now it is mostly fixed prices. Sometimes a deal shows up, mostly not.
@Larrob37....Welcome aboard....I have never used Auctionzip.... and with buyers premiums and taxes, I will not use them....Cheers, RickO
I beg to differ. I'm a "small timer seller," living in a "sales tax" state & selling to buyers also living in sales tax states as identified by ebay. My auctions are not assessed a sales tax by anyone.
edited to add:
I have yet to pay a sales tax for purchases made by small time sellers, but only by some of the big boys - not all. (Note, I live in MD)
You can beg to differ, but it isn't really arguable. eBay automatically assesses the tax based on the address of the buyer. If you are talking about sales on eBay, unless the buyer is sales tax exempt, it is automatic.
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https://community.ebay.com/t5/Announcements/Upcoming-changes-in-how-Internet-Sales-Tax-may-apply-to-your/ba-p/28962962
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If you read the link I supplied, there is no opt out on the tax collection. The size of the seller is irrelevant. The location of the seller is irrelevant.
All comments reflect the opinion of the author, even when irrefutably accurate.
I'm totally aware of that 1 year old link. It's apparent to me, there is a minimum annual selling criteria that must be met before ebay's tax collector kicks in. What it is, I have no idea, but I suspect it depends on the total volume of business conducted annually along with a sales threshold that is applicable, to each taxing State, that must be met.
I live in a state that doesn't charge sales tax on PMs, coins or currency. When I do purchase any of those on ebay, I am not charged a sales tax.
eBay by far.
Simply not true. The laws aren't written that way. They are written for ebay as a "marketplace", forcing ebay to be the tax collector. Ebay doesn't collect the tax for the seller. Ebay collects the tax for eBay.
All comments reflect the opinion of the author, even when irrefutably accurate.
Here's an explanation of how the "marketplace facilitator" rules work and why they are written to tax the entire marketplace (eBay) and not the individual seller. The only exception is, I believe, Minnesota.
https://sovos.com/blog/2019/06/07/marketplace-sales-tax-collection-rules-and-current-state-of-affairs/
All comments reflect the opinion of the author, even when irrefutably accurate.
Also:
https://support.a2xaccounting.com/en/articles/1496593-what-is-marketplace-facilitator-tax-and-how-do-i-account-for-it
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I have had great luck with auctionzip and the sorts. You gotta dig deep to find the deals though. They just dont fall in your lap.
I will say this. My customers aren't being charged sales tax in Ca. yet. Is ebay collecting tax for Ca. yet? They were sales under the tax free thresh hold.
At one time they were being inappropriately charged sales tax. LOL Maybe they overcompensated.
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P.S. My customers are being charged sales tax in multiple states - not sure about California. As a small seller, I would be below the threshold for almost every state, if that mattered.
It really isn't open to discussion. "Marketplace facilitators" were specifically targeted so there was no avoidance. Amazon, eBay, and Etsy among others.
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You can quote all you want about marketplace..rah, rah, etc. The fact remains, my auctions are not being charged sales tax and it doesn't matter were the buyer is located. And ebay does not collect taxes for ebay, they collect them for tax hungry States.
ere specifically targeted so there was no avoidance. Amazon, eBay, and Etsy among others.
Yes, tax-hungry states. The point is that eBay is the tax collector NOT the seller.
Whatever the implementation issues and whatever you think you're seeing it is DEFINITELY NOT that smaller sellers are exempt because that is simply false by the very nature of the marketplace facilitator laws.
All comments reflect the opinion of the author, even when irrefutably accurate.
I would also suggest that if you look harder, you might see that your customers are being charged. It is not immediately visible to the seller. In fact it is a separate PayPal payment that is not visible to me.
The easiest place to see it is if you go to the archived orders, the ones with tax collected will have a note at the bottom that says "eBay note: This total includes tax that eBay is required to collect from your buyer. You can view the amount paid to you in the sales record."
The amount paid will not show up in your sales record because, again, you are not the tax collector, eBay is. There is no record in PayPal and only traces visible on eBay. The invoices show the tax as a shaded value.
All comments reflect the opinion of the author, even when irrefutably accurate.
And I'm not quoting "rah, rah, rah...", I'm simply quoting the law as it is written and implemented. There is no "small seller" exemption on any of the marketplaces (eBay, Amazon, Etsy, etc.). Ask your tax professional. But until you do, I suggest you not spread misinformation.
All comments reflect the opinion of the author, even when irrefutably accurate.
https://etsy.com/seller-handbook/article/marketplace-sales-tax-where-etsy/321914904041
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Mmm....
from etsy:
"This ruling made it possible for states to require a seller to collect and remit sales tax on sales made into the state,**IF THE SELLER REACHES A CERTAIN REVENUE AND/OR TRANSACTION THRESHOLD IN THAT STATE. These rules, known as internet sales tax laws, affect anyone who sells online, regardless of the platform that they’re using."
That is if the MARKETPLACE RULES don't apply, hence "regardless of the platform". Keep reading. Or, for the love of all the gods, ask some professional you trust. This isn't even arguable.
None are so blind as those that refuse to see.
I would bet that your customers are paying tax, you just haven't noticed.
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Some states in the United States have introduced laws that affect online marketplaces such as Etsy.
States in the US are hoping to bring in more revenue through new taxes on their residents’ online purchases. **Some have passed legislation that require online marketplaces like ours **to either calculate, collect, and remit taxes on purchases made within their state, or notify purchasers by mail of their tax obligation and report information about purchasers to the State’s Department of Revenue.
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https://avalara.com/us/en/blog/2019/04/marketplaces-to-collect-sales-tax-on-behalf-of-their-sellers-in-11-more-states-and-counting.html
**In states that have adopted a marketplace law, marketplace providers or facilitators are responsible for sales tax on all sales made in the state through the platform. That means state tax authorities expect them to register as a seller, collect tax, file returns, remit tax, and accept exemption or resale certificates from customers to substantiate exempt sales. It also gives the marketplace the right to receive any credit or refund allowed by law.
**
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Connecticut and maybe Minnesota are the only states with "small seller marketplace exemptions"
How marketplace sales tax laws affect marketplace sellers
Marketplace sales tax laws generally make sales tax compliance easier for remote marketplace sellers. In some states, such as Alabama, individual marketplace sellers aren’t required to register with the state or file returns because the marketplace facilitator is considered the seller. Of course, if they make sales through other channels, such as their own ecommerce store, they must register, collect and remit sales tax, and file returns as required by law. (In-state sellers may have other licensing and reporting obligations in the state.)
In other states, remote marketplace sellers may have to register and comply with reporting requirements. For example, in Connecticut, marketplace sellers that exceed the economic nexus threshold must register with the Connecticut Department of Revenue Services and file an annual return, reporting all Connecticut sales and deducting sales for which the marketplace provider collected tax.
Exception for small remote marketplace sellers. Some states that impose a registration and reporting duty on marketplace sellers may provide an exception for small marketplace sellers. This is the case in Connecticut, which allows an exception for marketplace sellers that don’t meet the economic nexus threshold.
All comments reflect the opinion of the author, even when irrefutably accurate.