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Anyone using MySlabs ??
jay0791
Posts: 3,514 ✭✭✭✭
Anyone buying or selling?
On selling I just signed up but noticed there is no real description area.
Shipping is included in price but do you need to follow paypal policies such as delivery confirmation over $750.
I assume you don't get a shipping discount like on ebay.
Basically has anyone had problems.
Collecting PSA... FB,BK,HK,and BB HOF RC sets
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
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I’ve had a few transaction. Pretty easy and super low fees.
I just signed up a few weeks ago. Have made a few transactions and it went smoothly. Not sure how the fees go though...do they get taken out of your sale or do you pay them monthly?
ive sold a bunch on there, never purchased. super simple. all transactions go through PayPal and I ship directly from the PayPal transaction. you get normal PayPal shipping discounts. shipping should be included in the price and comes out of the sellers pocket. they just added a 1% buyers fee on top of the 1% sellers fee.
great customer service and website updates recently and they have their one Facebook group. the admin is very responsive to questions and updates.
myslabs.to/smzcards
That's correct, no place to put nonsense fluff! Just the card and the grade!
As they said on Dragnet.... "Just the facts Ma'am"
How do you do all of the sales tax stuff ?? When I was reading I didn't quite understand that part. If I'm a seller in WA and sell an item to a buyer in NY ?? Thanks in advance for any answers.
IMO, the buy prices on MySlabs are in line with eBay and higher. One would think with "super low fees" you'd find sellers discounting a little and still coming out ahead vs eBay fees.
Ty for responses
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
Yes. Love it. I've sold cards there and love their "no returns" policy. Some people complain about the prices but the most common was people view what's for sale is by the automated "newly listed" on the main page and so most good deals move quickly. I know the cards I've bought have been freshly listed.
eBay can eat a fat one.
Arthur
On pricing .....do you need to be around ebay prices? below as buyers need to pay 1%
Do you collect sales tax? Or is that included in the paypal invoice to buyers?
Is paypal going to report sales to the IRS ?
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
The amount of fees that a seller pays should have no bearing on the sale price. The sale price is determined by supply and demand, not by the sellers costs plus some nebulous markup.Supply and demand is blind to the sellers fee.
However, with everything else being equal, if the MySlabs seller were to list the item at a price on eBay, then the seller would list the same item on MySlabs for 5-6% less since that is the savings in fees.
I usually list the prices on myslabs a little below what I have them for on ebay. one thing I hate is buyers thought process is offering the amount after ebay fees thinking "well thats what you would get if you sold it on ebay" and thinking its ok. just because the payout would be less on ebay vs myslabs or Facebook doesnt/shouldnt mean the original starting price should be lower.
myslabs.to/smzcards
everything isnt equal though. ebay sales price +8% tax for most. folks tried the “well sellers should list 5% lower than ebay bc of fees” tatic for the first couple of months, then reality set in. sellers are still paying 4% after paypal fees + provide free tracked shipping. $5 shipping cost on $100 card is an additional 5% bringing the total to 9%. buyers are still saving 8% in sales tax. seems pretty equal now.
pretty soon theres gonna be a 1% buyers fee on myslabs though.
its already in effect and reflects in transactions in the past week or so.
myslabs.to/smzcards
must be rolling out in phases. bought a card yesterday. $125. paypal charge $125. with no separate charge of $1.25 or anything. ie like tips on uber, ubereats, etc.
yet at least. could come in the next day or so i guess, if thats how they process it.
on their Facebook page over the course of the past week, it was mentioned and debated by the site admin and users. someone bought a card from me yesterday and I noticed in the PayPal transaction that they were charged a $1 (1%) fee for the purchase. they had a bunch of updates to their website that went live August 7th. heres a blurb from the site explaining some of the new update, including the 1% fee...
"And finally a 1% buyer fee will be added to all purchases. A pop-up confirmation dialog on all best offers and buy it now requests will always alert buyers of their all-in bottom line before committing to purchase (See Image). We previously announced this several weeks ago via our social media channels (as well as in the most recent Issue of SMR) so we hope the majority of our members have been in the loop and expecting this update."
I dont see if it included a start date for the fee, but it may have begun the 13th when people started seeing it show up in invoices even thought it was announced before then. not sure why you didn't get hit with it yet. I figured it would be site wide and not a roll out, unless it depends on something else im not aware of.
myslabs.to/smzcards
I forgot about the tax savings (unless you get unlucky and pick a card in your state!). True, shipping would eat into that percentage savings on lower cost cards, would be through the roof on sub $50 cards. But then again, some sellers on eBay offer free shipping.
shipping isn't through the roof. it costs me $3.80 tops to send a 4 oz card in a bubble mailer first class across the country. barely makes a dent in slabs under $50.
really expensive stuff that I may insure up to $2000 via pirate ship comes out to like $17-20 via priority small flat rate.
myslabs.to/smzcards
no issues, they added a 1% buyers premium with last update. Have had just over 100 transacations. 74 sales 27 purchases. Never one hiccup. The guy that manages the day to day Matthew Greaney is a real stand up guy. Some of the members in the FB group are insufferable, but card bros will card bro.
I sell on there; my only issue is that the same items are listed on ebay. The only good thing is over there all my items are make an offer only, I disabled the buy it now option, so I can usually decline if they sell on ebay first, but I know some people have gotten upset when they make a full price offer and I decline it. I need to figure out a better solution, but when you have a thousand plus slabs listed it gets tough to manage sometimes. I love the site.
I have to much S**t; so if you working on sets or are a player/team collector, send me your want list, with conditions desired. Keep in mind I have a another job so please allow me a few days to respond.
I would be surprised if you as a seller, would do enough business in any one state that you would be required to collect sales tax. If myslabs becomes successful enough, it likely will be required to collect sales tax in exactly the same way eBay is. You're still not likely to be required to collect or report sales tax, though of course your buyers are likely to report and pay as use tax whatever they dodge as sales tax on eBay.
It depends on how much you sell, of course, but if you pass whatever thresholds the governments require, PayPal will send you a 1099 regardless of the site(s) you sell on.
Just bought my first card there. Placed a bid below list, which was accepted. So far, fan of the site.
I am a seller on there.. the biggest issue I have as a buyer is the selection. It is limited, but that will increase as it picks up steam.
Nic
Guides Authored - Graded Card Scanning Guide PDF | History of the PSA Label PDF
fyi: looks like my 1% fee did hit under a separate charge yesterday. similar to how tips are done.
TY
I didn't know myslabs didn't require sales tax. I thought it was any business doing business in my state.
So Paypal has a 200 transactions and $20K requirement for a 1099. I assume myslabs count.
So when you list on both do you mention they can buy item slightly cheaper (or not) on myslabs? Or will ebay shut it down? 4SC gets away from it why not everyone.
TY all for this info
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
Great Questions.
Thanks
YeeHaw!
Neil
Any business doing business in your state is (likely) required to collect sales tax. A company not doing business in your state may not be required to collect tax if it mails a small amount of taxable items to buyers in your state. This is to prevent a small business doing, say, 100 sales grossing $10,000 per year from having to file 30 different sales tax returns, some of them very small. In those cases the buyer is generally required to pay a use tax of the equivalent amount of the sales tax he was supposed to pay. This tax was so frequently dodged that states began to require larger sellers to collect and remit sales tax even if they had no nexus in the state. The size of the business required to collect the tax in your state is dependent on state law. For example, if myslabs sells more than $500,000 to your state over the course of the year it may be required to collect your state's sales tax.
PayPal has no requirement to send 1099s, and would almost certainly prefer not to send one at all. Your governments, however, do. The old 200 and $20k requirement was federal and may have changed. It almost certainly will change in the future. States may have stricter limits, and I'm fairly sure that next year some will have limits as low as $600. I'm unsure how transactions are processed by myslabs, but if you receive a payment from PayPal, it counts.
I don't know what items you're watching, but on those I watch 4SC doesn't suggest they even have a website, much less that they sometimes sell cards there for less than the eBay price. The only time I see those offers is in their newsletter, subscriptions to which are offered on eBay.
I hope that some or all of this is helpful.
The idea that one should sell for less on my slabs because of lower fees, makes no market sense. The seller ought to sell for the market rate no matter what the fees are.
Thank You DalTex
I have not purchased a card from 4SC in years. It might be common knowledge that a card on ebay can be found cheaper on their website.
I live in NYS the tax and fee capital of the USA. For me no myslabs purchases yet but have a few cards listed for sale. No action yet. IMO there is far less viewers than on ebay.
Ebay can't configure my managed payments and say it's an IT problem. They have stopped all communication despite owing me about $5K in sales last year. Closed my account for not going to managed payments (not my fault) and therefore also kept my $100 in ebay bucks I can't spend and a few partial gift cards I can't use now. In my eyes ebay is literally a common thief. So I am looking at myslabs as a substitute.
Your info really helps.
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
thank you. 100%. and especially when the buyer is saving by not paying sales tax. not buying from myslabs because they feel the price should be lower is equivalent to shooting their self in the foot.
I like my slabs better than ebay.
I collect hall of fame rookie cards, https://www.instagram.com/stwainfan/
I've bought a few cards on MySlabs and have had no issues at all. The 1% buyer fee is no biggy to me and I like that shipping is included. My only issue is the selection for football is mostly modern stuff and I get tired of seeing pages and pages of Patrick Mahomes and Josh Allen cards. Pricing is mixed, some close to well priced BIN cards on ebay but many asking crazy prices just like ebay. I think for price alone, if you can deal with an ebay auction it's your best chance of getting a good price on something that's not in too high demand.
NFL HOF Set
https://www.psacard.com/psasetregistry/publishedset/398345
I agree on selection and pricing. There is a filter by year option as well which helps get the Mahomes out.
If I sell on MySlabs, how can I weed out potential scammers? On ebay there I watch for low feedback or negative feedback. Otherwise, can't a buyer that is banned just keep creating new accounts?
They monitor it. Basically if you do not pay or try to return anyrhing you get the axe. If I were you I would be more worried about being accepted as a seller. I for one do not trust anyone with a low post count and one of those goofy neon smiley face avatars. That may just be me though.
Just sold my first card there. Smooth transaction. Payment came quickly and the shipping process is very similar to what you see on eBay.
I am a fan. Now if I could bring myself to sell more.. That may be the last one for a bit, who knows.
Nic
Guides Authored - Graded Card Scanning Guide PDF | History of the PSA Label PDF
I have a few cards there.
https://myslabs.to/stwai-33
I collect hall of fame rookie cards, https://www.instagram.com/stwainfan/
I have not used myslabs as a buyer or seller yet. But looking more into it due to this thread, on the selling side of things, my impression compared with ebay includes:
faster/easier to list items
no listing fees; only charged fees if sold
no maximum running time limit (total day count) before needing to go back and relist
don't need to send cards to a 3rd party for use of platform (like with COMC, etc.)
However,
not nearly as many views since only a tiny fraction of the number of buyers w/ active accounts so items would presumably move a whole lot slower
I think it is fair to consider ebay's fees as part of the overhead costs of doing business, paying for the immense site traffic they provide, which objectively is an insurmountable difference ahead of other platforms. I feel like all the fees for ebay & paypal have to be considered into the seller's calculation of their initial opening price just the same as they should account for their cost spent on acquisition and grading fees. Fees & shipping (as well as taxes) can basically end up being the same from platform to platform regardless of fee structure, if you adjust your listing price so that your net is the same.
Since you can list an item on ebay and myslabs simultaneously as long as you remember to delete redundant listings after a sale (a common practice already for 4SC, COMC, etc.), it seems like there's really nothing to lose by putting items up on myslabs and it seems to be a great option.
I purchased some unopened and a graded card to see how it goes with myslabs. I like the concept and it seems like you can find some reasonably priced items.
Robb
There just isn’t nearly enough volume of listings. Maybe that will change in time.
there is plenty of stuff on there, the problem is, most is ultra modern stuff I do not want. or pokeman stuff that for the life of me cannot understand why anyone wants.
I have sold only one card so far. Seems like the views are much less than ebay. What I don't like on myslabs is allow buyers to combine cards to be shipped.
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
Huh?
YeeHaw
Neil
If I favorite a card. Does it show anywhere? Or do I need to track it? So I can put it on a watch list.
I collect hall of fame rookie cards, https://www.instagram.com/stwainfan/
track it
I started using myslabs and so far so good. I put the more expensive cards on my slabs and they seem to get enough interest. Sure ebay brings more eyeballs but it also brings a ton of "Take my price and I will pay immediately" emails.
My issue with MySlabs (which I very much like, overall) is that if I go in and lower the prices on my cards there's nothing to make them stand out. So much of the traffic is browsing newly listed cards that it's almost as though I have to delete the listing and rebuild a brand new listing for the card just for it to get any eye balls.
I had dropped my prices on some Tatis and Ohtani RCs that were $50-$100 less than eBay and didn't get a peek for five days. If someone is tracking a card, they should get a notification that a price has been reduced. People should be able to "follow" certain athletes so whenever a card is listed or a price dropped they get a notification.
Arthur
Just looking at just the topps chrome 203 I don't see to much below what you can buy it for on ebay
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
>
Same thing on eBay, but with exponential number of listings. But when someone is searching for a specific thing, and they sort by price, then your gripe is irrelevant.
Could you imagine, peeps would be changing prices 1 cent or dollar all the time to be near the top if that made them show up higher!!
Pretty sure that's what happens on Amazon all the time and that's why prices can fluctuate week to week.