Could somebody explain to me what a Paypal Partner Fee is, Re: Myslabs?

thedutymon11

Good Day,

Recently I kinda quit selling on E-bay and am now using Myslabs for some minor sales. I was trying to figure out why my net after Sales and all costs was so low.

Now since these sales are from Myslabs, really scratching my head as to what a Partner Fee is? Myslabs only charges 1 or 2% I think, so what are these damm Partner Fees? And do the Paypal Fees look right? Here are a couple of examples. Off my Paypal summary.

Paid by:
Robert

Purchase details
1961 Topps Baseball Stamp Elston Howard PSA EX-MT 6... slab on MySlabs.com
$10.00
Buyer Fee
$0.10
Amount
$10.10
Purchase total
$10.10
Fee
-negative $0.84
Partner fee
-negative $1.10
Total
$8.16

Paid by
Martin

Purchase details:
1930 R184-2 Indian Chiefs 112 PSA EX-MT+ 6.5+... slab on MySlabs.com
$20.00
Buyer Fee
$0.20
Amount
$20.20
Purchase total
$20.20
Fee
-negative $1.19
Partner fee
-negative $1.19
Total
$17.82

I've done some searching on Paypal and got nowhere. On the WWW chat sites. Some have complained of getting charged $100 on a $700 sale! Most say it is charges by the 3rd Party Selling Site. They mention E-Bay a lot and a few others, but these transactions are strictly Myslabs. Am I misinterpreting Myslabs TOS, and this is their fee? Christ, there hitting me with 20 % + plus before Shipping!

Any help appreciated!

Thanks

YeeHaw!

Neil

ndleo

That is the 1% buyers fee and the 1% seller fee. You should net a little less than 95% of that amount

thedutymon11

@ndleo said:
That is the 1% buyers fee and the 1% seller fee. You should net a little less than 95% of that amount (Which Amount)

Huh.......in example #1 the total Sale was $10.00, easy to figure out 1% plus 1% =2%. 2% of $10.00 is .20 cents, not $1.10!

Example #2 Total Sale is $20.00, 2% is .40 cents, Not $1.19! My Net is Minus Paypal + Partner Fee, which leaves less than 80% before shipping!

Plus with the Paypal Fee and this second Partner fee, as I said they are taking North of % 20 of my sales. And the Fee amounts don't even make sense compared to the Sales amounts and ratios to each sold item! $1.94 in Fees an a $10 Sale, then $2.38 on a $20 Sale.

YeeHaw!

Neil

PaulMaul

As far as I can tell, the PayPal fee is 3.49% plus a fixed charge of 49 cents. In your first example above, that is .35 + .49 = .84.

The partner fee (which is charged by myslabs) is described on their site as follows:

—-
7) Fees for sellers - MySlabs Fees for sellers are based on one's usage of the site therefore a 1% seller/usage fee (calculated as a percentage of the transaction amount with a minimum of $1 per transaction) is billed along with successful sales.
—-

This doesn’t match what you are being charged though. It seems like your fee should just be a dollar if the 1% is below $1. It seems more like they are charging one dollar plus the 1%.

This combination of fees would seem to make it a poor venue for lower dollar items.

MisterTim1962

The minimum fee charged is $1.00, plus all those other fees. Ripoff!

thedutymon11

Afternoon,

Thank PaulMaul, didn't realize the $1 minimum, and your right, gonna have to rethink those $10-$15 dollar items.

Thanks

YeeHaw

Neil

ndleo

For low dollar cards, ebay is still your best bet. The search function on MySlabs is horrible and those kind of cards get lost.

RufussCkingston

Because you can't charge for shipping, low value MySlab sales end up being higher cost/fees than selling on eBay where you can charge shipping. For a $10 sale, after shipping, you probably didn't even clear $4.

tonylags

here are one my last two, you are correct, seems like a much higher % on lower price items

Purchase Total
$227.25 USD
Sales Tax
$0.00 USD
Shipping Amount
$0.00 USD
Handling Amount
$0.00 USD
Insurance Amount
$0.00 USD
Gross Amount
$227.25 USD
PayPal Fee
-$8.42 USD
Partner Commission
-$4.42 USD
Net Amount
$214.41 USD

Purchase Total
$15.15 USD
Sales Tax
$0.00 USD
Shipping Amount
$0.00 USD
Handling Amount
$0.00 USD
Insurance Amount
$0.00 USD
Gross Amount
$15.15 USD
PayPal Fee
-$1.02 USD
Partner Commission
-$1.14 USD
Net Amount
$12.99 USD

RufussCkingston

More or less, if you sell a card for LESS than $100, your sales fee to Myslabs will be HIGHER than 1% since the MINIMUM sales fee is $1. Thus if you sell a card for $10, you will be paying a 10% sales fee, on top of the paypal fees. And of course you have to pay for shipping too. Remember, PayPal fees should not be taken into consideration when figuring out what percentage you are paying to MySlabs. The Partner Commission includes the 1% that the Buyer is paying (it is added to the purchase total), so you need to subtract that before you start trying to calculate what you are paying MySlabs.

At the end of the day, these posts about MySlabs not being actually 1% fee for sellers is because of peeps selling sub $100 items and/or they don't understand the PayPal fee process. So for the most part these posts should always be categorized in the "nothing to see here" department.