paypal fees going up august 2nd.
blurryface
Posts: 5,136 ✭✭✭✭✭
all those ebay fees getting converted & disappearing must have started adding up.
as of 8/2, paypals adding another half a point + increasing the $.30 fee per transaction to $.49.
2
Comments
This is gunna get out of hand soon. Sellers will jack prices up further. It's getting to the point of why even sell anymore. Thanks blurry for updates! 👍
apparently its for venmo too. funny thing is the update was announced back on 6/24 but i just found out from another collector about the increase. went back and scoured my inbox & spam folders and didnt find a notification at all. google brought it up instantly though:
Unbelievable Blurry! I've been selling since 2001 on ebay. Everything seems it's just getting worse. Yes, lol google will let you know in a split second about gossip lol. It's a shame, but maybe it could be a blessing in disguise if another platform Opens up soon like ebay. Not counting on it.... Yet lol
when ya think about it, things have changed quite drastically over the course of the past few years. weve had:
whether you are buying, selling or just selling to support your buying, the overall costs have gone up exponentially. didnt realize it until just seeing it on paper myself.
Can somebody please explain to me how the %^&^% does anyone actually make money on ebay ?
This is starting to become not fun anymore and it's very sad.
To add to the negatives, I remember receiving $10 caps on selling fees pretty much every other month for a year or so until a couple years ago. Was nice selling items for $1K and only paying $10 to ebay. Might have been because I was an eBay noob, but I sure miss them.
On a positive note, those of us on eBay managed payments aren’t impacted by this PayPal change for our eBay sales.
In contrast to what Blurry states above, I pay lower fees with managed payments than I did with PayPal - PayPal was .30+2.9% (12.9%+.30 combined), eBay managed is .30+2.35% (12.35%+.30 combined). Again, I’m still a relative eBay noob, so maybe the 11% combined you reference was before my time, but in my 4 years on eBay my fees lowered with the move to managed pmts.
Jim
that is a very telling list for sure and nice(in a bad way) to see it all in one place. for those of us who have been around long enough , add the elimination of bing cash to the list
the only positive I have seen is eBay has been pretty good at keeping postal rates lower on 1st class shipping, also on fedex shipping
the whole sales tax and reporting over $600 pretty much forces most sellers into being businesses. The funny part is many of these small businesses will end up with a "loss" when you the tax advisors start deducting and the gov't ends up with less money for the headaches they created.
curious on the paypal fee going up for managed payments since many people use paypal through managed payments. ebay obviously has a deal with what they pay as the processor with paypal , like they do with visa and mastercard but how long until they increase managed payments for this paypal bump. probably not long if history is any indication
I actually like the eBay managed payments; I wish eBay did that set up many years ago, I would've saved a lot more cash through out the years.
I agree, and maybe it's a result of all the fees and increases. I have been on ebay this morning and people are listing cards for way more $$ than the card should sell for. Not sure if it's a lack of research on their part, the increased fees, or just throwing up a number and not really caring if it sells or not.
NFL HOF Set
https://www.psacard.com/psasetregistry/publishedset/398345
Anything that's changed for the better?
Anything at all? 
D's: 54S,53P,50P,49S,45D+S,44S,43D,41S,40D+S,39D+S,38D+S,37D+S,36S,35D+S,all 16-34's
Q's: 52S,47S,46S,40S,39S,38S,37D+S,36D+S,35D,34D,32D+S
74T: 37,38,47,151,193,241,435,570,610,654,655 97 Finest silver: 115,135,139,145,310
73T:31,55,61,62,63,64,65,66,67,68,80,152,165,189,213,235,237,257,341,344,377,379,390,422,433,453,480,497,545,554,563,580,606,613,630
95 Ultra GM Sets: Golden Prospects,HR Kings,On-Base Leaders,Power Plus,RBI Kings,Rising Stars
Millions of people lose their jobs in 2020.
America response: Lets raise prices on everything.
Doesn't make sense.
Plus, just listing or relisting the cards can be a total pain in the butt. They make random changes all of the time. Like calling a card new/used and a UPC code on a 71 Mays, or saying it's vintage in 4 areas, plus the name of the player 4 times. Gets ridiculous to say the least.
Prices going up is inflation due to trillions of dollars being given out by the government over the past year.
^ less political direction please.
Not really political (although not sure of intent) ... just a true statements of fact...
“direction” being the key word. leash is pretty short here once the word “govt” is brought up.
unless you wanna rap about warren and govt mule.
Love Warren and the Mule...
me too. going to see them in dillon, co for a couple nights in august then a month later up the road in columbia. been too long.
Stooges 🎵🎵 " No fun" =ebay.
Nice!...My next show is Dead & Co...Wrigley Field 9/17 with my son...cant wait!
mayer fan or no?
In order to be considered a business and not a hobby, one must show a profit in X number of years out of 5 (I believe). If not, one cannot take a hobby loss on their tax return. Check with your tax advisor on the exact treatment of your sales. Please do not assume every year would be a tax write-off to show negative income from your sales.
No ill intent and I'm not a political guy...I absolutely hate politics, just pointing out prices are on the rise all over with so much new money being pumped into the economy.
Didn't realize you had become a mod and were in charge of keeping the direction of the board in line.
im the last thing from a mod, trust me. thats not to say a ton of good content that could be very useful later down the road hasnt been erased because of this.
No one can replace the big man, but Mayer has "bought in"...so I give him props.
I don't sell a ton of big money cards, but I have sold a ton of cards (less than $500) in various Facebook groups over the last few years. I haven't sold on ebay in the last 2 years. Once you build a name for yourself, people are pretty comfortable paying as friends and family, so bonus there. I have also seen bigger money cards $1K+ sell in groups.
It the closest I have come to an alternative to eBay.
I originally wrote this too but my message was already getting too long LOL
I personally show a profit every year but I know many that don't and are get to show their losses.
The first time I came across this was before the internet when I was a poor youngster just out of college, I was bowling monthly money tournaments in New England and a new law required them to give out 1099's if a bowler received more than $600 in prize money. So basically everyone got 1099's because all you had to do was cash 3 times out of about 20 tournaments. So all of a sudden we all got these 1099's and then my accountant asked me for expenses. Entry fees , mileage, hotels , equipment ....... That first year I took a $5K loss on my taxes because I was forced too by the 1099 and got a nice tax refund.
@swish54... @blurryface is not a mod, but he's seen enough to know that I shut things down pretty quickly when stuff gets political. He was simply offering a reminder. I can't watch every thread, so little reminders like that can be helpful.
agreed about replacing the man. i liked when warren or even derek trucks were sitting in. love me some oteil regardless! i have mixed feelings about mayer. he’s not ideal, imo. but id rather him be there than them not touring at all. of course anyone stepping into that position is in a losing proposition, so. but def enjoy chicago! sons first show?
yes first show for him...my 45th or so, starting 9/1/79 in Rochester NY. (Derek doing a great job too!)
Yay! Let's violate ToS!
You've never accepted or sent friends and family for anything you've ever bought or sold?
i will say that paypal is severely cracking down on those that abuse the friends and family feature. i know a few folks that have had their account either closed or put on hold (freezing the funds too) for close to 6 months. personally, i had my account froze for just sending money while they thoroughly reviewed my account history. was a major pain, but just know that they are seriously monitoring it.
Yes, for sure they are cracking down. Also, as I understand it if it's over $600 it's going on a 1099 anyway. A couple questions for people who sell on other places than EBAY.
Not likely. There are minimum levels of sales (over the whole year, not per customer) that are required to collect sales tax from each state. eBay likely crosses that threshold in January for all states, maybe on New Year's Day for some. I would expect your buyers would have to pay their own use tax.
DISCLAIMER: As always, I am not a tax professional. Please consult yours before acting on this information.
is this new? I have never had friends and family included in my 1099's.
A lot of companies trying to recoup their losses from weakened sales during Covid times...raising their prices seems to be their solution, and probably the only solution...
I think the surge in prices has easily made up for these other increases. The eBay standard envelope for cards is a big boost as well.
I don't really understand what you're saying. EBAY collects the sales tax on every purchase. No minimums that I know of.
Would it be totally different if someone sold it on FB ?? And I do realize all states can be very different.
What I'm saying is that a state may require an entity to collect (and remit) sales tax if it sells over $10,000,000 in that state over the course of a year. Now that number is likely to be either way too high or way too low, but the point is the same. eBay is likely to sell $10,000,000 of goods to, say, Maryland over the course of a year so is required to collect Maryland sales tax. An individual selling Griffey rookies on Facebook is unlikely to have more than a few thousand dollars in sales to Maryland. Sincere question from me: Facebook only functions as a venue for advertising, right? It doesn't collect payments or anything?
Some folks put cards for sale in sports card groups on FB. Yes, FB doesn't do anything with the transaction. I've bought a few cards. I've never sold anything on any site other than EBAY and here.
Easy. First, don't sell on eBay. Second, sell on MySlabs (1% seller fees, no maximum). I've been a happy camper ever since I did this. No returns on MySlabs, too, so you don't have to worry about the person coming back in a month when the card drops in value.
Arthur
Arthur,
How about someone paying by Credit Card. Can't this be a problem potentially. Also, don't you have to know sales tax of each state and then submit that stuff to each state or something like that. That part seemed a little confusing to me. I will check them out some more.
Dan
There's never going to be a way around Paypal returns. But with everything being already slabbed and the presumptive atmosphere that there are no returns still makes it a much better place than eBay where sellers just get blatantly abused.
Even if there are the occasional returns, you're still pocketing 10% more on every sale compared to eBay.
Arthur