Both of these sit in my personal collection now but I could 99c auction them off today, less than a year later, and probably walk away with a fat profit on each.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
@bennybravo said:
Can't believe i'm in the minority by saying eBay taketh too much! Yikes!
That's not all you said.
Then you picked a fight with everyone who disagreed with you and challenged them to prove to you that they coukd actually make money on ebay.
You should try actually selling coins at auction, at shows, at stores. You'd quickly realize what a bargain ebay is for the tremendous services they supply.
Easy big fella. You're right. Ebay is the most awesome and you win. I should have never spoken ill of such a fine institution that only has the interest of it's sellers in mind. Have a great night.
@bennybravo said:
Easy big fella. You're right. Ebay is the most awesome and you win. I should have never spoken ill of such a fine institution that only has the interest of it's sellers in mind. Have a great night.
All this hot air coming from a guy with an ebay link in his signature. I think ol Benny boy got sniped on one too many auctions.
I think why some are against Ebay is because over the years, they have become more expensive and they have initiated more rules and/or restrictions.
Gone are the grand old days of the early Ebay.
That said, for an experienced and very knowledgeable buyer or seller, for me, it's the best market to sell and the best place to pick off the great buys.
I have oh so many extremely profitable transactions that I have totally lost track of them (since I started on Ebay in 1998).
I only have had a few bad experiences, some of which were my own fault, such as ending two rather large auctions on Halloween night and Super Bowl night many years ago, of which I received very poor bids......totally my fault, not Ebay's.
Thousands of transactions, of which only a handful, maybe five to ten returns since 1998 and maybe only two or three transactions where the buyer/seller was a scammer and maybe five to ten lost packages and in 24 years of Ebay, received a total of five negative feedbacks.
"Gold is money, and nothing else" (JP Morgan, 1912)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
@ccmorgan said:
They don't call it feebay for nothing...
"They" are ignorant.
I suppose we should start calling GC GFee, since it is more expensive to sell there by a factor of 2+ on items under $1000. Yet I've never heard anyone here complain that GCs fees were too high.
@ccmorgan said:
They don't call it feebay for nothing...
"They" are ignorant.
I suppose we should start calling GC GFee, since it is more expensive to sell there by a factor of 2+ on items under $1000. Yet I've never heard anyone here complain that GCs fees were too high.
@ccmorgan said:
They don't call it feebay for nothing...
"They" are ignorant.
I suppose we should start calling GC GFee, since it is more expensive to sell there by a factor of 2+ on items under $1000. Yet I've never heard anyone here complain that GCs fees were too high.
@DoubleEagle59 said:
I think why some are against Ebay is because over the years, they have become more expensive and they have initiated more rules and/or restrictions.
Gone are the grand old days of the early Ebay.
That said, for an experienced and very knowledgeable buyer or seller, for me, it's the best market to sell and the best place to pick off the great buys.
I have oh so many extremely profitable transactions that I have totally lost track of them (since I started on Ebay in 1998).
I only have had a few bad experiences, some of which were my own fault, such as ending two rather large auctions on Halloween night and Super Bowl night many years ago, of which I received very poor bids......totally my fault, not Ebay's.
Thousands of transactions, of which only a handful, maybe five to ten returns since 1998 and maybe only two or three transactions where the buyer/seller was a scammer and maybe five to ten lost packages and in 24 years of Ebay, received a total of five negative feedbacks.
I think this is true. People remember the 2% fees at the beginning [IIRC]. But they forget that was pre-PayPal which adds 3% in payment processing. That was also before they had all the buyer and seller guarantees.
You get what you pay for. EBay gives you a lot for under 10% (with store).
I've done $2 million+ in the last 25 years and I wouldn't have done half of that without eBay. And I only would have done half if I was running to shows 10 or 20 times per year. And show costs can be far higher as a percentage of sales than eBay.
@Morpheus1967 said:
All this hot air coming from a guy with an ebay link in his signature.
Yeah- a link that takes you to your own My eBay page if you're currently logged in on eBay. Otherwise, it takes you to where you login for your My eBay page.
@jmlanzaf said:
I think this is true. People remember the 2% fees at the beginning [IIRC]. But they forget that was pre-PayPal which adds 3% in payment processing. That was also before they had all the buyer and seller guarantees.
You get what you pay for. EBay gives you a lot for under 10% (with store).
I've done $2 million+ in the last 25 years and I wouldn't have done half of that without eBay. And I only would have done half if I was running to shows 10 or 20 times per year. And show costs can be far higher as a percentage of sales than eBay.
I can't decide which is sillier: this thread or the thread about CAC beaning - or not beaning - an obvious mechanical error. Is there something in the water up there?
Well, this has been an interesting discussion! Thank you all for sharing your experiences and thoughts.
I have been on EBay since 1999. Bought and sold stuff but not in significant volumes.
I used to sell a fair amount on there, until about five years ago when other priorities prevailed.
The past couple of years have seen my buying tick up. Now that I’m retired and have time for a little more fun bargain hunting and working on my collection again.
I like Ebay, and still find some goodies mixed in with all the rubble.
Even some good deals as well! One has to be selective of course, but with the volumes, there are still a few nice pieces that fly under the radar on there.
Just this week I’ve put some items back on there to sell- Just testing the waters.
If I walked this stuff into a LCS- which are now hours away, I can hear them now….” This has been cleaned, sliders, over graded, I’ll do you a BIG favor and take it off your hands for xxxx (melt or 20% back of greysheet).
I already posted just ONE to Ebay, listing it as an old cleaning and it’s already bid up to way more than I bought it for many years ago on the Bay- when I made a bad purchase thinking it hadn’t been cleaned. Granted, it’s a frothy market now. But as was astutely said in another thread here by someone- “it’s a good time to unload old mistakes”.
And I even described it as having an old cleaning!
Hopefully I don’t run into nut jobs and non-paying kooks which is why I stopped selling some years back.
Too many headaches. We’ll see this time?
I’ve even stocked up on shipping supplies :-)
Thanks @derryb for all the tips on that front!
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
@DelawareDoons said:
Listed 5 morgans last night and woke up to $1,000 in sales, a pile of offers, and messages about selling more of them.
Love eBay. And yes, those coins were bought off eBay and sold back on eBay with margins at 25-35% after fees.
Does that profit margin include federal and state income taxes?
Nope, but my effective tax rates are quite low, no more than 20% all in.
Here's the other thing, my eBay store/username and my website have the same name. You can (and many ebayers do) google my username to find me off eBay and save them, and I, some $ in fees. At the end of the day, eBay = Reach.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
@Aotearoa said:
I can't decide which is sillier: this thread or the thread about CAC beaning - or not beaning - an obvious mechanical error. Is there something in the water up there?
That other thread is sillier. But this one has more insults. Neither one shows the forum to best advantage.
100th pint of blood donated 7/19/2022 . Transactions with WilliamF, Relaxn, LukeMarshal, jclovescoins, braddick, JWP, Weather11am, Fairlaneman, Dscoins, lordmarcovan, Collectorcoins, SurfinxHI, JimW. God so loved the world that he gave his only begotten son, that who so believeth in him should not perish but have everlasting life.
@DelawareDoons said:
Listed 5 morgans last night and woke up to $1,000 in sales, a pile of offers, and messages about selling more of them.
Love eBay. And yes, those coins were bought off eBay and sold back on eBay with margins at 25-35% after fees.
Wait... so eBay charged fees to the original seller, then again when you resold them? Those greedy pigs!
And Visa got paid twice... and the IRS got paid twice... and the USPS got paid twice...
And USPS probably lost money each time, which was subsidized by taxpayers (and deficit spending). So we've all been robbed!
100th pint of blood donated 7/19/2022 . Transactions with WilliamF, Relaxn, LukeMarshal, jclovescoins, braddick, JWP, Weather11am, Fairlaneman, Dscoins, lordmarcovan, Collectorcoins, SurfinxHI, JimW. God so loved the world that he gave his only begotten son, that who so believeth in him should not perish but have everlasting life.
@DelawareDoons said:
Listed 5 morgans last night and woke up to $1,000 in sales, a pile of offers, and messages about selling more of them.
Love eBay. And yes, those coins were bought off eBay and sold back on eBay with margins at 25-35% after fees.
Wait... so eBay charged fees to the original seller, then again when you resold them? Those greedy pigs!
And Visa got paid twice... and the IRS got paid twice... and the USPS got paid twice...
And USPS probably lost money each time, which was subsidized by taxpayers (and deficit spending). So we've all been robbed!
USPS is not subsidized by taxpayers. Not since 1971.
Interesting... there is some question of whether anti-competitive regulations act as a de-facto subsidy, but there aren't any direct subsidies from US Govt. Looks like there was a $10B covid loan recently. Will that be repaid?
I like the USPS. Their uniforms remind me of the New England Pats.
Thanks!
100th pint of blood donated 7/19/2022 . Transactions with WilliamF, Relaxn, LukeMarshal, jclovescoins, braddick, JWP, Weather11am, Fairlaneman, Dscoins, lordmarcovan, Collectorcoins, SurfinxHI, JimW. God so loved the world that he gave his only begotten son, that who so believeth in him should not perish but have everlasting life.
25% gross profit is a very solid number on any coin.
Depends on the price/value obviously.
I'd much rather have 25% of $10,000 coin than a $100 coin.
I'd rather have 5% of a million, but that's not the point. If you look at the bid/ask spread of most coins, it is more like 10%. Bullion is 3 to 5%. A 25% gross margin is quite healthy.
25% gross profit is a very solid number on any coin.
Depends on the price/value obviously.
I'd much rather have 25% of $10,000 coin than a $100 coin.
I'd rather have 5% of a million, but that's not the point. If you look at the bid/ask spread of most coins, it is more like 10%. Bullion is 3 to 5%. A 25% gross margin is quite healthy.
My gross margins average around 22% on graded coins actually. Fees/overhead eat a chunk but my net margins are typically around 15%; Obviously buoyed by my bigger hits.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Fine, here's one. Haven't sold it yet, but when I do, I'll make a few bags. Wasn't even in my top 3 buys of the year last year.
Hey Delaware, how do you deal with the Connecticut sales tax that ebay illegally collects on coin sales? Do you just suck it up, or get a CT re-sale number, get a Conn tax refund? I have tried repeatedly to get ebay to stop doing this to no avail. I am going to try to get a refund from the state for past purchases, but not sure if I will be successful.
Fine, here's one. Haven't sold it yet, but when I do, I'll make a few bags. Wasn't even in my top 3 buys of the year last year.
Hey Delaware, how do you deal with the Connecticut sales tax that ebay illegally collects on coin sales? Do you just suck it up, or get a CT re-sale number, get a Conn tax refund? I have tried repeatedly to get ebay to stop doing this to no avail. I am going to try to get a refund from the state for past purchases, but not sure if I will be successful.
Never mind, that was a buy not a sell, unless you do indeed live in CT
Fine, here's one. Haven't sold it yet, but when I do, I'll make a few bags. Wasn't even in my top 3 buys of the year last year.
Hey Delaware, how do you deal with the Connecticut sales tax that ebay illegally collects on coin sales? Do you just suck it up, or get a CT re-sale number, get a Conn tax refund? I have tried repeatedly to get ebay to stop doing this to no avail. I am going to try to get a refund from the state for past purchases, but not sure if I will be successful.
Never mind, that was a buy not a sell, unless you do indeed live in CT
I am not in CT, sorry. I bought that from somebody in CT. Talk to eBay's sales tax division directly, though, they may stop if you can get their tax division to review the situation. They were collecting it on my state briefly despite an exemption existing for coins and bullion.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Fine, here's one. Haven't sold it yet, but when I do, I'll make a few bags. Wasn't even in my top 3 buys of the year last year.
Hey Delaware, how do you deal with the Connecticut sales tax that ebay illegally collects on coin sales? Do you just suck it up, or get a CT re-sale number, get a Conn tax refund? I have tried repeatedly to get ebay to stop doing this to no avail. I am going to try to get a refund from the state for past purchases, but not sure if I will be successful.
Never mind, that was a buy not a sell, unless you do indeed live in CT
I am not in CT, sorry. I bought that from somebody in CT. Talk to eBay's sales tax division directly, though, they may stop if you can get their tax division to review the situation. They were collecting it on my state briefly despite an exemption existing for coins and bullion.
Yeah I just realized that.
I have tried with Ebay, they are idiots on sales taxes. They lump all US coins in with "bullion" for sales tax purposes which is total bullcrap.
On another topic, does anyone know how to change my search result default back to "list view" without doing it for each search? Ebay changed the default to gallery view which I hate.
Fine, here's one. Haven't sold it yet, but when I do, I'll make a few bags. Wasn't even in my top 3 buys of the year last year.
Hey Delaware, how do you deal with the Connecticut sales tax that ebay illegally collects on coin sales? Do you just suck it up, or get a CT re-sale number, get a Conn tax refund? I have tried repeatedly to get ebay to stop doing this to no avail. I am going to try to get a refund from the state for past purchases, but not sure if I will be successful.
I'm sure the government will circumvent that somehow, they always do.
Laws are for the peasants not the government.
Where I live they even tax shipping costs.
Fine, here's one. Haven't sold it yet, but when I do, I'll make a few bags. Wasn't even in my top 3 buys of the year last year.
Hey Delaware, how do you deal with the Connecticut sales tax that ebay illegally collects on coin sales? Do you just suck it up, or get a CT re-sale number, get a Conn tax refund? I have tried repeatedly to get ebay to stop doing this to no avail. I am going to try to get a refund from the state for past purchases, but not sure if I will be successful.
Never mind, that was a buy not a sell, unless you do indeed live in CT
I am not in CT, sorry. I bought that from somebody in CT. Talk to eBay's sales tax division directly, though, they may stop if you can get their tax division to review the situation. They were collecting it on my state briefly despite an exemption existing for coins and bullion.
Yeah I just realized that.
I have tried with Ebay, they are idiots on sales taxes. They lump all US coins in with "bullion" for sales tax purposes which is total bullcrap.
Take a look in what category the seller is listing his bullion....If it's in the coin, instead of bullion category, ebay will slap on a sales tax.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
Fine, here's one. Haven't sold it yet, but when I do, I'll make a few bags. Wasn't even in my top 3 buys of the year last year.
Hey Delaware, how do you deal with the Connecticut sales tax that ebay illegally collects on coin sales? Do you just suck it up, or get a CT re-sale number, get a Conn tax refund? I have tried repeatedly to get ebay to stop doing this to no avail. I am going to try to get a refund from the state for past purchases, but not sure if I will be successful.
I'm sure the government will circumvent that somehow, they always do.
Laws are for the peasants not the government.
Where I live they even tax shipping costs.
I'm in NY and shipping costs are "taxed", but they should be. The tax is on the total purchase price. To do it any other way would invite people to sell everything for 1 cent with $100 shipping. Heck, even a B&M could sell you a loaf of bread for 10 cents with $3 shipping fee from the bakery to the cashier.
Comments
Can't believe i'm in the minority by saying eBay taketh too much! Yikes!
https://www.ebay.com/mys/active
I’ll promise you this. We are not alone by a long shot.
Both of these sit in my personal collection now but I could 99c auction them off today, less than a year later, and probably walk away with a fat profit on each.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Great coins! Good luck with them should you decide to sell. Hope you make that fat profit you desire.
https://www.ebay.com/mys/active
That's not all you said.
Then you picked a fight with everyone who disagreed with you and challenged them to prove to you that they coukd actually make money on ebay.
You should try actually selling coins at auction, at shows, at stores. You'd quickly realize what a bargain ebay is for the tremendous services they supply.
Easy big fella. You're right. Ebay is the most awesome and you win. I should have never spoken ill of such a fine institution that only has the interest of it's sellers in mind. Have a great night.
https://www.ebay.com/mys/active
All this hot air coming from a guy with an ebay link in his signature. I think ol Benny boy got sniped on one too many auctions.
They don't call it feebay for nothing...
I think why some are against Ebay is because over the years, they have become more expensive and they have initiated more rules and/or restrictions.
Gone are the grand old days of the early Ebay.
That said, for an experienced and very knowledgeable buyer or seller, for me, it's the best market to sell and the best place to pick off the great buys.
I have oh so many extremely profitable transactions that I have totally lost track of them (since I started on Ebay in 1998).
I only have had a few bad experiences, some of which were my own fault, such as ending two rather large auctions on Halloween night and Super Bowl night many years ago, of which I received very poor bids......totally my fault, not Ebay's.
Thousands of transactions, of which only a handful, maybe five to ten returns since 1998 and maybe only two or three transactions where the buyer/seller was a scammer and maybe five to ten lost packages and in 24 years of Ebay, received a total of five negative feedbacks.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
"They" are ignorant.
I suppose we should start calling GC GFee, since it is more expensive to sell there by a factor of 2+ on items under $1000. Yet I've never heard anyone here complain that GCs fees were too high.
Listed 5 morgans last night and woke up to $1,000 in sales, a pile of offers, and messages about selling more of them.
Love eBay. And yes, those coins were bought off eBay and sold back on eBay with margins at 25-35% after fees.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
What or who is GC?
Does that profit margin include federal and state income taxes?
Great Collections
Probably not. But so what? You only pay taxes on profits. And you owe taxes on profits no matter where they come from, not just ebay.
25% gross profit is a very solid number on any coin.
I think this is true. People remember the 2% fees at the beginning [IIRC]. But they forget that was pre-PayPal which adds 3% in payment processing. That was also before they had all the buyer and seller guarantees.
You get what you pay for. EBay gives you a lot for under 10% (with store).
I've done $2 million+ in the last 25 years and I wouldn't have done half of that without eBay. And I only would have done half if I was running to shows 10 or 20 times per year. And show costs can be far higher as a percentage of sales than eBay.
Yeah- a link that takes you to your own My eBay page if you're currently logged in on eBay. Otherwise, it takes you to where you login for your My eBay page.
Brilliant!
Math is hard for some.
ebay is so easy.
Just now I did a nuke bid on something that I have no idea of the value. I won for about 1/3 of my nuke bid.
The numismatic item is probably unique and super cool.
My business model requires that I put it into inventory.
When I sell it, I will make a profit.
Until then it is another super cool piece in my inventory.
eBay is so easy
I can't decide which is sillier: this thread or the thread about CAC beaning - or not beaning - an obvious mechanical error. Is there something in the water up there?
Smitten with DBLCs.
Well, this has been an interesting discussion! Thank you all for sharing your experiences and thoughts.
I have been on EBay since 1999. Bought and sold stuff but not in significant volumes.
I used to sell a fair amount on there, until about five years ago when other priorities prevailed.
The past couple of years have seen my buying tick up. Now that I’m retired and have time for a little more fun bargain hunting and working on my collection again.
I like Ebay, and still find some goodies mixed in with all the rubble.
Even some good deals as well! One has to be selective of course, but with the volumes, there are still a few nice pieces that fly under the radar on there.
Just this week I’ve put some items back on there to sell- Just testing the waters.
If I walked this stuff into a LCS- which are now hours away, I can hear them now….” This has been cleaned, sliders, over graded, I’ll do you a BIG favor and take it off your hands for xxxx (melt or 20% back of greysheet).
I already posted just ONE to Ebay, listing it as an old cleaning and it’s already bid up to way more than I bought it for many years ago on the Bay- when I made a bad purchase thinking it hadn’t been cleaned. Granted, it’s a frothy market now. But as was astutely said in another thread here by someone- “it’s a good time to unload old mistakes”.
And I even described it as having an old cleaning!
Hopefully I don’t run into nut jobs and non-paying kooks which is why I stopped selling some years back.
Too many headaches. We’ll see this time?
I’ve even stocked up on shipping supplies :-)
Thanks @derryb for all the tips on that front!
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
Nope, but my effective tax rates are quite low, no more than 20% all in.
Here's the other thing, my eBay store/username and my website have the same name. You can (and many ebayers do) google my username to find me off eBay and save them, and I, some $ in fees. At the end of the day, eBay = Reach.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
That other thread is sillier. But this one has more insults. Neither one shows the forum to best advantage.
Wait... so eBay charged fees to the original seller, then again when you resold them? Those greedy pigs!
And Visa got paid twice... and the IRS got paid twice... and the USPS got paid twice...
And USPS probably lost money each time, which was subsidized by taxpayers (and deficit spending). So we've all been robbed!
USPS is not subsidized by taxpayers. Not since 1971.
Interesting... there is some question of whether anti-competitive regulations act as a de-facto subsidy, but there aren't any direct subsidies from US Govt. Looks like there was a $10B covid loan recently. Will that be repaid?
I like the USPS. Their uniforms remind me of the New England Pats.
Thanks!
Depends on the price/value obviously.
I'd much rather have 25% of $10,000 coin than a $100 coin.
I'd rather have 5% of a million, but that's not the point. If you look at the bid/ask spread of most coins, it is more like 10%. Bullion is 3 to 5%. A 25% gross margin is quite healthy.
My gross margins average around 22% on graded coins actually. Fees/overhead eat a chunk but my net margins are typically around 15%; Obviously buoyed by my bigger hits.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Hey Delaware, how do you deal with the Connecticut sales tax that ebay illegally collects on coin sales? Do you just suck it up, or get a CT re-sale number, get a Conn tax refund? I have tried repeatedly to get ebay to stop doing this to no avail. I am going to try to get a refund from the state for past purchases, but not sure if I will be successful.
Never mind, that was a buy not a sell, unless you do indeed live in CT
I am not in CT, sorry. I bought that from somebody in CT. Talk to eBay's sales tax division directly, though, they may stop if you can get their tax division to review the situation. They were collecting it on my state briefly despite an exemption existing for coins and bullion.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Yeah I just realized that.
I have tried with Ebay, they are idiots on sales taxes. They lump all US coins in with "bullion" for sales tax purposes which is total bullcrap.
On another topic, does anyone know how to change my search result default back to "list view" without doing it for each search? Ebay changed the default to gallery view which I hate.
I'm sure the government will circumvent that somehow, they always do.
Laws are for the peasants not the government.
Where I live they even tax shipping costs.
nwcoast.....set up your parameters to avoid non paying bidders. > @Connecticoin said:
Take a look in what category the seller is listing his bullion....If it's in the coin, instead of bullion category, ebay will slap on a sales tax.
I'm in NY and shipping costs are "taxed", but they should be. The tax is on the total purchase price. To do it any other way would invite people to sell everything for 1 cent with $100 shipping. Heck, even a B&M could sell you a loaf of bread for 10 cents with $3 shipping fee from the bakery to the cashier.