@ReggieCleveland said:
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.
>
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!!
True, but customers are viewing cards in two separate manners. On eBay, they search for the specific card by name. On MySlabs much of the eyeballs come from the home page new listings. If your card isn't seen within the first 24 hours the odds that it sells drop dramatically.
True, but customers are viewing cards in two separate manners. On eBay, they search for the specific card by name. On MySlabs much of the eyeballs come from the home page new listings. If your card isn't seen within the first 24 hours the odds that it sells drop dramatically.
Yes, for the true window shopper that would be correct, however, as MySlabs gets more popular and more cards get listed all the time, you'd still only be at the top for very little time. Also, again, if changing the price bumped up your listing, even if peeps did it legitimately, between everyone doing price changes and new listings, you'd still only be in the upper reaches for a millisecond.
I'm sure the majority of MySlab sales are from targeted or narrowed searches...
@jay0791 said:
WSell I just sold my 2nd card.
$195 sale
Looks like the fees for sellers are not 1%
The fees were $7.36 Plus a "partner fee" of $3.83 for total of $11.19
How much was the payment and how much did you net?? The partner fee is the 1% seller fees AND the 1% buyer's fee. The initial payment should be for 196.95 which includes the buyer's 1%, which you are remitting to MySlabs on the buyer's behalf.
The 7.36 is your paypal fee, that is separate from MySlabs and is the cost of doing business/using paypal...
True, but customers are viewing cards in two separate manners. On eBay, they search for the specific card by name. On MySlabs much of the eyeballs come from the home page new listings. If your card isn't seen within the first 24 hours the odds that it sells drop dramatically.
Yes, for the true window shopper that would be correct, however, as MySlabs gets more popular and more cards get listed all the time, you'd still only be at the top for very little time. Also, again, if changing the price bumped up your listing, even if peeps did it legitimately, between everyone doing price changes and new listings, you'd still only be in the upper reaches for a millisecond.
I'm sure the majority of MySlab sales are from targeted or narrowed searches...
From my experience, having cards listed for a while and reducing their prices versus listing them "fresh," there's simply no comparison. My cards that have been listed for a while receive zero views while relisting the card completely will get the card sold. I don't see much evidence that there are many targeted or narrowed searching going on.
I have sold about 15 cards on the site. All transactions went smooth with no issues but much like Ebay you get a lot of lowball offers. As a buyer the site just doesn't have much to choose from unless you are looking for ultra modern. For someone who is collecting 80"s and older good luck finding what you are looking for.
@ReggieCleveland said:
My cards that have been listed for a while receive zero views while relisting the card completely will get the card sold. I don't see much evidence that there are many targeted or narrowed searching going on.
What exactly are you selling, ultra modern stuff?
I'm not arguing that a pop to the top of the listings wouldn't help you, I'm just trying to make a point that if a price change did pop you back to the top it would not matter as everyone else who makes changes would pop to the top and you would only be in the top for a minute due to the sheer volume of cards listed and get price changed every hour.
They bill it as a stock market for cards. But they are going to have to massively increase their liquidity in order to come anywhere close to functioning like a stock market. The price spreads right now are ginormous. No market can function properly with that low of liquidity and those price spreads.
@jay0791 said:
WSell I just sold my 2nd card.
$195 sale
Looks like the fees for sellers are not 1%
The fees were $7.36 Plus a "partner fee" of $3.83 for total of $11.19
How much was the payment and how much did you net?? The partner fee is the 1% seller fees AND the 1% buyer's fee. The initial payment should be for 196.95 which includes the buyer's 1%, which you are remitting to MySlabs on the buyer's behalf.
The 7.36 is your paypal fee, that is separate from MySlabs and is the cost of doing business/using paypal...
shouldnt the partner fee of 1% only been $1.95 on $195 sale? paypal is up to what, .30 base + 3.4% now? so thats $6.93 + $1.95 = $8.58. op says it was $11.19. maybe he paid $3 for shipping outta his paypal balance and is accounting that cost as part of the problem?
@ReggieCleveland said:
My cards that have been listed for a while receive zero views while relisting the card completely will get the card sold. I don't see much evidence that there are many targeted or narrowed searching going on.
What exactly are you selling, ultra modern stuff?
I'm not arguing that a pop to the top of the listings wouldn't help you, I'm just trying to make a point that if a price change did pop you back to the top it would not matter as everyone else who makes changes would pop to the top and you would only be in the top for a minute due to the sheer volume of cards listed and get price changed every hour.
Oh, I wasn't saying the listing would get bumped to the top, I was saying if the price is reduced that people that are tracking it should get a notification.
@dtsagent9 said:
I have sold about 15 cards on the site. All transactions went smooth with no issues but much like Ebay you get a lot of lowball offers. As a buyer the site just doesn't have much to choose from unless you are looking for ultra modern. For someone who is collecting 80"s and older good luck finding what you are looking for.
Do they let sellers put an auto reject limit on offers ?
On eBay say I list a buy it now / best offer, if I have it at $200 I set auto reject at say lower than $150..
Low ball offers piss me off..
@dtsagent9 said:
I have sold about 15 cards on the site. All transactions went smooth with no issues but much like Ebay you get a lot of lowball offers. As a buyer the site just doesn't have much to choose from unless you are looking for ultra modern. For someone who is collecting 80"s and older good luck finding what you are looking for.
Do they let sellers put an auto reject limit on offers ?
On eBay say I list a buy it now / best offer, if I have it at $200 I set auto reject at say lower than $150..
Low ball offers piss me off..
The auto reject doesn't really help on ebay. The low ballers send a message thru ebays system.
Oh, I wasn't saying the listing would get bumped to the top, I was saying if the price is reduced that people that are tracking it should get a notification.
Now that is a legit idea. You should post that in the Facebook group that the site peeps have. I fully support that.
shouldnt the partner fee of 1% only been $1.95 on $195 sale? paypal is up to what, .30 base + 3.4% now? so thats $6.93 + $1.95 = $8.58. op says it was $11.19. maybe he paid $3 for shipping outta his paypal balance and is accounting that cost as part of the problem?
The partner fee should be 2%. 1% from the buyer and 1% from the seller. The buyer PAYS the seller the 1%, thus the seller gets a 2% deduction.
shouldnt the partner fee of 1% only been $1.95 on $195 sale? paypal is up to what, .30 base + 3.4% now? so thats $6.93 + $1.95 = $8.58. op says it was $11.19. maybe he paid $3 for shipping outta his paypal balance and is accounting that cost as part of the problem?
The partner fee should be 2%. 1% from the buyer and 1% from the seller. The buyer PAYS the seller the 1%, thus the seller gets a 2% deduction.
i thought the buyer pays whatever the listed price is, then a separate 1% charge is also ran on their paypal?
I closed on 4 deal, total value $6000. The total fees, inclusive of everything, is 5.5%. I netted about 94.5% of the total PP payment, which includes the BP.
I am selling cards there that I would have in the past sent to PWCC or 4SC directly. I'm not in a rush and this pace is OK for me.
@dtsagent9 said:
I have sold about 15 cards on the site. All transactions went smooth with no issues but much like Ebay you get a lot of lowball offers. As a buyer the site just doesn't have much to choose from unless you are looking for ultra modern. For someone who is collecting 80"s and older good luck finding what you are looking for.
Do they let sellers put an auto reject limit on offers ?
On eBay say I list a buy it now / best offer, if I have it at $200 I set auto reject at say lower than $150..
Low ball offers piss me off..
The auto reject doesn't really help on ebay. The low ballers send a message thru ebays system.
I don't get them that much.
But my question was does My Slabs let u set auto reject ?
Lmk.. Thx.
Yes there is a min option. I just list the least amount I will take. So far I the buyers I’ve seen don’t haggle that much. Pull the trigger and buy it.
I know everyone has their own pricing strategy but I do look at my net return vs ebay/PWCC net and price somewhere in between taking into account the lower fees.
@dtsagent9 said:
I have sold about 15 cards on the site. All transactions went smooth with no issues but much like Ebay you get a lot of lowball offers. As a buyer the site just doesn't have much to choose from unless you are looking for ultra modern. For someone who is collecting 80"s and older good luck finding what you are looking for.
Do they let sellers put an auto reject limit on offers ?
On eBay say I list a buy it now / best offer, if I have it at $200 I set auto reject at say lower than $150..
Low ball offers piss me off..
The auto reject doesn't really help on ebay. The low ballers send a message thru ebays system.
I don't get them that much.
But my question was does My Slabs let u set auto reject ?
Lmk.. Thx.
i thought the buyer pays whatever the listed price is, then a separate 1% charge is also ran on their paypal?
I get what you are saying, but I have a feeling that Paypal can only remit a payment to one account or designate. In your scenario they would essentially be taking one payment and splitting it between two parties.
i thought the buyer pays whatever the listed price is, then a separate 1% charge is also ran on their paypal?
I get what you are saying, but I have a feeling that Paypal can only remit a payment to one account or designate. In your scenario they would essentially be taking one payment and splitting it between two parties.
so the seller is also paying the 1% buyers premium?
not doubting you. just trying to understand and very confused. i was thinking about listing thru them again…
@jay0791 said:
WSell I just sold my 2nd card.
$195 sale
Looks like the fees for sellers are not 1%
The fees were $7.36 Plus a "partner fee" of $3.83 for total of $11.19
and
@jay0791 said:
The buyer and seller are charged 1% each
Seller pays PP fee and then still has to ship at extra cost
which is why i am confused. it seems your total fees paid well exceeded the 1% seller and paypal fees, correct? and shipping was not taken out, correct?
@jay0791 said:
WSell I just sold my 2nd card.
$195 sale
Looks like the fees for sellers are not 1%
The fees were $7.36 Plus a "partner fee" of $3.83 for total of $11.19
and
@jay0791 said:
The buyer and seller are charged 1% each
Seller pays PP fee and then still has to ship at extra cost
which is why i am confused. it seems your total fees paid well exceeded the 1% seller and paypal fees, correct? and shipping was not taken out, correct?
I sold a card for $125 on Saturday.
Here is exact fee breakdown
Payment - 126.25
Partner fee - 2.46 (which includes the buyers premium of 1%)
Paypal fees 4.90
Net before shipping 118.89
Shipping is assumed in the price of listing. Myslabs ships to US addresses only.
Seller A sells a Honus Wagner T206 on Myslabs to Buyer B for $100
Buyer B makes a PayPal payment to Seller A for $101. That's $100 for the card, and $1 for the 1% Buyer's Premium
Seller A gets a gross payment of $101 from Buyer B to his Paypal. Paypal deducts X amount for the paypal fee and then also deducts a partner (MySalbs) fee of $1.96, which is the 1% Seller's fee AND the remittance of the 1% Buyer's Fee that was originally paid to Seller A.
Now as we can see, the MySlab fees actually only come out to 1.94%. I assume this is to make up for the fact the payment includes Buyer B's 1%, so if 2% were to be deducted on a $101 total, the fee would be $2.02, which of course would be more than the stated 1% for buyers and sellers. I also think the lower fee is an offset for the Paypal fee which is payed on the 1% Buyer's fee that is included in the gross payment to the Seller, as paypal still takes a cut.
just trying to figure out why jay stated they arent 1% above. anyone care to math his specific figures out based off the numbers given?
Ok.....
Jay's Sale was $195... I'm going to assume he received a payment of 196.95 (195+ Buyer's 1% fee of $1.95)
Jay paid a PayPal fee of $7.36 which is 49 cent fixed transaction fee plus $6.87 which is the 3.49% transaction fee.
Jay paid a partner fee of $3.83 that goes to myslabs. That's $1.95 sellers fee, and then $1.88 buyer's fee, which is $1.95 minus 3.59% (not sure why not 3.49%).
So Jay thinks he paid $11.19 in fees, but in reality he only paid $9.31 since the other $1.88 was paid (given to the seller) by the buyer.
if we eliminate the buyers fee, The paypal fee on $195 would be $6.81+.49= $7.30, then you have the seller fee of $1.95, so $7.30+1.95= $9.25 Looks like Jay is getting hosed for 6 cents
Seller A sells a Honus Wagner T206 on Myslabs to Buyer B for $100
Buyer B makes a PayPal payment to Seller A for $101. That's $100 for the card, and $1 for the 1% Buyer's Premium
Seller A gets a gross payment of $101 from Buyer B to his Paypal. Paypal deducts X amount for the paypal fee and then also deducts a partner (MySalbs) fee of $1.96, which is the 1% Seller's fee AND the remittance of the 1% Buyer's Fee that was originally paid to Seller A.
Now as we can see, the MySlab fees actually only come out to 1.94%. I assume this is to make up for the fact the payment includes Buyer B's 1%, so if 2% were to be deducted on a $101 total, the fee would be $2.02, which of course would be more than the stated 1% for buyers and sellers. I also think the lower fee is an offset for the Paypal fee which is payed on the 1% Buyer's fee that is included in the gross payment to the Seller, as paypal still takes a cut.
That concludes today's lesson.....
This is multiple threads now where you've talked to people in a condescending, know it all tone. How dare you be so pompous while trying to "help" someone understand something, and then have your "tutorial" use words (that I've highlighted in bold and italics) like assume and think?
I will pass on your math class for a basket weaving class instead.
thanks everybody for helping. after trying to figure out exactly where i was getting hosed by ebay after being forced into managed payments w zero access to customer service reps as covid started way back when (the 13% was on the post tax figure) i just wanted to make sure apples were actually apples before listing.
Its a nice site, much better option for sellers than Ebay. However as a buyer I typically can find better prices on Ebay. I do think starting next year when the IRS really starts cracking down sites like this will blow up until the IRS puts their foot down on them too.
@GOBUCKS said:
Its a nice site, much better option for sellers than Ebay. However as a buyer I typically can find better prices on Ebay. I do think starting next year when the IRS really starts cracking down sites like this will blow up until the IRS puts their foot down on them too.
myslabs would have to come up with thier own payment processing platform, right? with everything running through paypal and paypal being required to report, i dont think people will be able to skirt uncle sam, nor should they try in the first place.
i just like the no-nonsense approach of the site. just wish more vintage & non sports guys would make the leap as its predominately modern/ultra modern.
Bluryface
last year ebay could never ever figure out putting me on managed payments. they said it was IT issue. never followed up on promises even from managed payments people (hours and hours on phone). So about $5K of my sales went unpaid to me and still nothing. They have completely stopped all attempts. Due to "inability" to get switched over to managed payments ebay closed my account that was in good standing along with about $100 earned ebay bucks I couldn't use and not able to use a partial ebay gift card worth about $120
We may joke about feebay but they truly are thieves and criminals.
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
@jay0791 said:
Bluryface
last year ebay could never ever figure out putting me on managed payments. they said it was IT issue. never followed up on promises even from managed payments people (hours and hours on phone). So about $5K of my sales went unpaid to me and still nothing. They have completely stopped all attempts. Due to "inability" to get switched over to managed payments ebay closed my account that was in good standing along with about $100 earned ebay bucks I couldn't use and not able to use a partial ebay gift card worth about $120
We may joke about feebay but they truly are thieves and criminals.
i have zero doubt. taken for a couple of g’s myself in various ways. to me its just sad & frustrating with a ton of things going on in the “hobby”. with each passing day there seems to be less and less avenues to move things. ebay was tolerable for a long time. but then the fees, lack of true protection, the repetitive & redundant info required to post a single listing coupled w non-payer & return headaches just got to be too much. pwcc was pretty decent on lower end consignments, they got to deal w the headaches and did most of the work for the same price of doing it myself. their consignment platform & process was unmatched. of course there was always the internal struggle sending them stuff with their history in the previous years but i figured theyd have to be running on the up & up with certain agencies looking in, right? well apparently not. pcs & 4sc are amazing, but their lack of IT infrastructure and archaic consignment & accounting platforms make it difficult to reconcile or even list. by list i mean, you have no real control on when you can start or end an auction. it could even be 15 - 40 days after your cards were sent in before they got listed and another month before you got paid. and even then youre still supporting ebay which in the grand scheme of things, made pwcc and even probstein look like saints. heritage is great on big ticket items, but then again you have to get your items in there and could be 3-4 months before auction starting time to getting paid. everyone else is either backed up to the hills or not worth the risk.
but back to myslabs and wanting to get down to whether everything was fiscally correct (and sorry for pressing the issue on your example) i just wanna make sure before i put in the effort to truly understand what the fees are. and this was simply bc of the issue w ebay and not realizing until that the true fee was 13.5% - 13.8% because you were also paying the 13% fee on the buyers sales tax. it doesnt seem like a lot but when youre selling a few cards ranging from $200 - $20,000, that additional percentage off of the sales taxed figure adds up. even more infuriating when i cant get a customer rep on the phone and didnt have the ebay sellers dashboard on my account for nearly 5 months. it was basically “heres your money” w no breakdown. it certainly wasnt 87% percent. especially on a $90k gretzky 9 way back when.
i just want easy. not looking to skirt uncle sam. dont want to deal w “my cat ran across my keyboard and miraculously checked out, i need to cancel” or the scammers. i love the no-nonsense approach and the basic listing info requirements myslabs wants. its not traditional, but maybe thats a good thing. i just wanna know the true cost of doing business. dont sugar coat it, not looking for smoke in mirrors and if it ends up even being 3% because of tricky wording or verbiage, im fine with that. that way i can price accordingly and im not pissed when i finally get paid out.
The 1% buyer fee essentially makes the seller fee 2%. The seller ends up absorbing that cost because he could’ve charged 1% more as the buyer was willing to purchase one percent over the listing price anyway.
Seller A sells a Honus Wagner T206 on Myslabs to Buyer B for $100
Buyer B makes a PayPal payment to Seller A for $101. That's $100 for the card, and $1 for the 1% Buyer's Premium
Seller A gets a gross payment of $101 from Buyer B to his Paypal. Paypal deducts X amount for the paypal fee and then also deducts a partner (MySalbs) fee of $1.96, which is the 1% Seller's fee AND the remittance of the 1% Buyer's Fee that was originally paid to Seller A.
Now as we can see, the MySlab fees actually only come out to 1.94%. I assume this is to make up for the fact the payment includes Buyer B's 1%, so if 2% were to be deducted on a $101 total, the fee would be $2.02, which of course would be more than the stated 1% for buyers and sellers. I also think the lower fee is an offset for the Paypal fee which is payed on the 1% Buyer's fee that is included in the gross payment to the Seller, as paypal still takes a cut.
That concludes today's lesson.....
This is multiple threads now where you've talked to people in a condescending, know it all tone. How dare you be so pompous while trying to "help" someone understand something, and then have your "tutorial" use words (that I've highlighted in bold and italics) like assume and think?
I will pass on your math class for a basket weaving class instead.
The lawsuit concerns the PWCC getting trimmed cards graded and sold on e bay. New ownership of PSA cleaned house and now has no liability as single ownership. I do not know if this was the class action from a while back, but THIS ONE is not over.( each is getting their ducks in a row).
@1959 said:
The lawsuit concerns the PWCC getting trimmed cards graded and sold on e bay. New ownership of PSA cleaned house and now has no liability as single ownership. I do not know if this was the class action from a while back, but THIS ONE is not over.( each is getting their ducks in a row).
Without speaking to the merits of anything, I only wish to say that a company, in general, can't escape liability by changing owners.
Without speaking to the merits of anything, I only wish to say that a company, in general, can't escape liability by changing owners.
Yep, you buy the debts, you buy the assets, you buy any current or future litigation based on pre-purchase company actions.... Unless you negotiate a deal with the sellers where the sellers would assume all liability in such cases, but that is extremely rare and in most cases not practical. Especially when it's the purchase of a public company.,
@1959 said:
The lawsuit concerns the PWCC getting trimmed cards graded and sold on e bay. New ownership of PSA cleaned house and now has no liability as single ownership. I do not know if this was the class action from a while back, but THIS ONE is not over.( each is getting their ducks in a row).
Without speaking to the merits of anything, I only wish to say that a company, in general, can't escape liability by changing owners.
most certainly can. and in many cases, is sold for that precise reason.
Comments
True, but customers are viewing cards in two separate manners. On eBay, they search for the specific card by name. On MySlabs much of the eyeballs come from the home page new listings. If your card isn't seen within the first 24 hours the odds that it sells drop dramatically.
Arthur
Yes, for the true window shopper that would be correct, however, as MySlabs gets more popular and more cards get listed all the time, you'd still only be at the top for very little time. Also, again, if changing the price bumped up your listing, even if peeps did it legitimately, between everyone doing price changes and new listings, you'd still only be in the upper reaches for a millisecond.
I'm sure the majority of MySlab sales are from targeted or narrowed searches...
WSell I just sold my 2nd card.
$195 sale
Looks like the fees for sellers are not 1%
The fees were $7.36 Plus a "partner fee" of $3.83 for total of $11.19
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
How much was the payment and how much did you net?? The partner fee is the 1% seller fees AND the 1% buyer's fee. The initial payment should be for 196.95 which includes the buyer's 1%, which you are remitting to MySlabs on the buyer's behalf.
The 7.36 is your paypal fee, that is separate from MySlabs and is the cost of doing business/using paypal...
My net was about $185
I just wish there was a way to get around PP.
Still its better than feebay
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
From my experience, having cards listed for a while and reducing their prices versus listing them "fresh," there's simply no comparison. My cards that have been listed for a while receive zero views while relisting the card completely will get the card sold. I don't see much evidence that there are many targeted or narrowed searching going on.
Arthur
I have sold about 15 cards on the site. All transactions went smooth with no issues but much like Ebay you get a lot of lowball offers. As a buyer the site just doesn't have much to choose from unless you are looking for ultra modern. For someone who is collecting 80"s and older good luck finding what you are looking for.
What exactly are you selling, ultra modern stuff?
I'm not arguing that a pop to the top of the listings wouldn't help you, I'm just trying to make a point that if a price change did pop you back to the top it would not matter as everyone else who makes changes would pop to the top and you would only be in the top for a minute due to the sheer volume of cards listed and get price changed every hour.
They bill it as a stock market for cards. But they are going to have to massively increase their liquidity in order to come anywhere close to functioning like a stock market. The price spreads right now are ginormous. No market can function properly with that low of liquidity and those price spreads.
shouldnt the partner fee of 1% only been $1.95 on $195 sale? paypal is up to what, .30 base + 3.4% now? so thats $6.93 + $1.95 = $8.58. op says it was $11.19. maybe he paid $3 for shipping outta his paypal balance and is accounting that cost as part of the problem?
The $11.19 fees were not including the shipping.
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
Oh, I wasn't saying the listing would get bumped to the top, I was saying if the price is reduced that people that are tracking it should get a notification.
Arthur
Do they let sellers put an auto reject limit on offers ?
On eBay say I list a buy it now / best offer, if I have it at $200 I set auto reject at say lower than $150..
Low ball offers piss me off..
The auto reject doesn't really help on ebay. The low ballers send a message thru ebays system.
please let us know if you figure it out then bc thats a lot more when factoring in the paypal and the supposed 1% myslabs fee.
Now that is a legit idea. You should post that in the Facebook group that the site peeps have. I fully support that.
=
The partner fee should be 2%. 1% from the buyer and 1% from the seller. The buyer PAYS the seller the 1%, thus the seller gets a 2% deduction.
i thought the buyer pays whatever the listed price is, then a separate 1% charge is also ran on their paypal?
I closed on 4 deal, total value $6000. The total fees, inclusive of everything, is 5.5%. I netted about 94.5% of the total PP payment, which includes the BP.
I am selling cards there that I would have in the past sent to PWCC or 4SC directly. I'm not in a rush and this pace is OK for me.
I don't get them that much.
But my question was does My Slabs let u set auto reject ?
Lmk.. Thx.
Yes there is a min option. I just list the least amount I will take. So far I the buyers I’ve seen don’t haggle that much. Pull the trigger and buy it.
I know everyone has their own pricing strategy but I do look at my net return vs ebay/PWCC net and price somewhere in between taking into account the lower fees.
Yes.
I get what you are saying, but I have a feeling that Paypal can only remit a payment to one account or designate. In your scenario they would essentially be taking one payment and splitting it between two parties.
so the seller is also paying the 1% buyers premium?
not doubting you. just trying to understand and very confused. i was thinking about listing thru them again…
The buyer and seller are charged 1% each
Seller pays PP fee and then still has to ship at extra cost
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
and
which is why i am confused. it seems your total fees paid well exceeded the 1% seller and paypal fees, correct? and shipping was not taken out, correct?
I sold a card for $125 on Saturday.
Here is exact fee breakdown
Payment - 126.25
Partner fee - 2.46 (which includes the buyers premium of 1%)
Paypal fees 4.90
Net before shipping 118.89
Shipping is assumed in the price of listing. Myslabs ships to US addresses only.
TIme for Blurryface MySlabs Math class
Seller A sells a Honus Wagner T206 on Myslabs to Buyer B for $100
Buyer B makes a PayPal payment to Seller A for $101. That's $100 for the card, and $1 for the 1% Buyer's Premium
Seller A gets a gross payment of $101 from Buyer B to his Paypal. Paypal deducts X amount for the paypal fee and then also deducts a partner (MySalbs) fee of $1.96, which is the 1% Seller's fee AND the remittance of the 1% Buyer's Fee that was originally paid to Seller A.
Now as we can see, the MySlab fees actually only come out to 1.94%. I assume this is to make up for the fact the payment includes Buyer B's 1%, so if 2% were to be deducted on a $101 total, the fee would be $2.02, which of course would be more than the stated 1% for buyers and sellers. I also think the lower fee is an offset for the Paypal fee which is payed on the 1% Buyer's fee that is included in the gross payment to the Seller, as paypal still takes a cut.
That concludes today's lesson.....
i payed reel clothes attention. 😉.
just trying to figure out why jay stated they arent 1% above. anyone care to math his specific figures out based off the numbers given?
Ok.....
Jay's Sale was $195... I'm going to assume he received a payment of 196.95 (195+ Buyer's 1% fee of $1.95)
Jay paid a PayPal fee of $7.36 which is 49 cent fixed transaction fee plus $6.87 which is the 3.49% transaction fee.
Jay paid a partner fee of $3.83 that goes to myslabs. That's $1.95 sellers fee, and then $1.88 buyer's fee, which is $1.95 minus 3.59% (not sure why not 3.49%).
So Jay thinks he paid $11.19 in fees, but in reality he only paid $9.31 since the other $1.88 was paid (given to the seller) by the buyer.
if we eliminate the buyers fee, The paypal fee on $195 would be $6.81+.49= $7.30, then you have the seller fee of $1.95, so $7.30+1.95= $9.25 Looks like Jay is getting hosed for 6 cents
Myslabs customer service (responded quickly) said PP makes following it difficult.
here is my PP summary
Purchase details
2017 Panini Prizm #291 Alvin Kamara RC PSA 10 Saints... slab on MySlabs.com
$195.00
Buyer Fee
$1.95
Amount
$196.95
Purchase total
$196.95
Fee
-negative $7.36
Partner fee
-negative $3.83
Total
$185.7
My net was actually $9.24 as stated above
Shipping was $3+ extra
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
This is multiple threads now where you've talked to people in a condescending, know it all tone. How dare you be so pompous while trying to "help" someone understand something, and then have your "tutorial" use words (that I've highlighted in bold and italics) like assume and think?
I will pass on your math class for a basket weaving class instead.
thanks everybody for helping. after trying to figure out exactly where i was getting hosed by ebay after being forced into managed payments w zero access to customer service reps as covid started way back when (the 13% was on the post tax figure) i just wanted to make sure apples were actually apples before listing.
Its a nice site, much better option for sellers than Ebay. However as a buyer I typically can find better prices on Ebay. I do think starting next year when the IRS really starts cracking down sites like this will blow up until the IRS puts their foot down on them too.
myslabs would have to come up with thier own payment processing platform, right? with everything running through paypal and paypal being required to report, i dont think people will be able to skirt uncle sam, nor should they try in the first place.
i just like the no-nonsense approach of the site. just wish more vintage & non sports guys would make the leap as its predominately modern/ultra modern.
Bluryface
last year ebay could never ever figure out putting me on managed payments. they said it was IT issue. never followed up on promises even from managed payments people (hours and hours on phone). So about $5K of my sales went unpaid to me and still nothing. They have completely stopped all attempts. Due to "inability" to get switched over to managed payments ebay closed my account that was in good standing along with about $100 earned ebay bucks I couldn't use and not able to use a partial ebay gift card worth about $120
We may joke about feebay but they truly are thieves and criminals.
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
i have zero doubt. taken for a couple of g’s myself in various ways. to me its just sad & frustrating with a ton of things going on in the “hobby”. with each passing day there seems to be less and less avenues to move things. ebay was tolerable for a long time. but then the fees, lack of true protection, the repetitive & redundant info required to post a single listing coupled w non-payer & return headaches just got to be too much. pwcc was pretty decent on lower end consignments, they got to deal w the headaches and did most of the work for the same price of doing it myself. their consignment platform & process was unmatched. of course there was always the internal struggle sending them stuff with their history in the previous years but i figured theyd have to be running on the up & up with certain agencies looking in, right? well apparently not. pcs & 4sc are amazing, but their lack of IT infrastructure and archaic consignment & accounting platforms make it difficult to reconcile or even list. by list i mean, you have no real control on when you can start or end an auction. it could even be 15 - 40 days after your cards were sent in before they got listed and another month before you got paid. and even then youre still supporting ebay which in the grand scheme of things, made pwcc and even probstein look like saints. heritage is great on big ticket items, but then again you have to get your items in there and could be 3-4 months before auction starting time to getting paid. everyone else is either backed up to the hills or not worth the risk.
but back to myslabs and wanting to get down to whether everything was fiscally correct (and sorry for pressing the issue on your example) i just wanna make sure before i put in the effort to truly understand what the fees are. and this was simply bc of the issue w ebay and not realizing until that the true fee was 13.5% - 13.8% because you were also paying the 13% fee on the buyers sales tax. it doesnt seem like a lot but when youre selling a few cards ranging from $200 - $20,000, that additional percentage off of the sales taxed figure adds up. even more infuriating when i cant get a customer rep on the phone and didnt have the ebay sellers dashboard on my account for nearly 5 months. it was basically “heres your money” w no breakdown. it certainly wasnt 87% percent. especially on a $90k gretzky 9 way back when.
i just want easy. not looking to skirt uncle sam. dont want to deal w “my cat ran across my keyboard and miraculously checked out, i need to cancel” or the scammers. i love the no-nonsense approach and the basic listing info requirements myslabs wants. its not traditional, but maybe thats a good thing. i just wanna know the true cost of doing business. dont sugar coat it, not looking for smoke in mirrors and if it ends up even being 3% because of tricky wording or verbiage, im fine with that. that way i can price accordingly and im not pissed when i finally get paid out.
The 1% buyer fee essentially makes the seller fee 2%. The seller ends up absorbing that cost because he could’ve charged 1% more as the buyer was willing to purchase one percent over the listing price anyway.
E-bay, PWCC, and PSA are currently being sued. Results will be interesting.
By who.. & for what ?
are you talking about the class action spiel that was brought fwd a while back? if so, that was thrown out and pretty much dead on arrival.
Do you have an issue with my "provenance"?
The lawsuit concerns the PWCC getting trimmed cards graded and sold on e bay. New ownership of PSA cleaned house and now has no liability as single ownership. I do not know if this was the class action from a while back, but THIS ONE is not over.( each is getting their ducks in a row).
Without speaking to the merits of anything, I only wish to say that a company, in general, can't escape liability by changing owners.
Yep, you buy the debts, you buy the assets, you buy any current or future litigation based on pre-purchase company actions.... Unless you negotiate a deal with the sellers where the sellers would assume all liability in such cases, but that is extremely rare and in most cases not practical. Especially when it's the purchase of a public company.,
most certainly can. and in many cases, is sold for that precise reason.
I apologize if I missed it, but does anyone know how long it takes to be approved to sell on there?
It only took about 24 hours for me when I signed up.
It has been longer than that for me. I thought I would be a shoo-in since my Ebay feedback is so high.