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MYSLABS - A few questions as buyer and seller

Mickey71Mickey71 Posts: 4,252 ✭✭✭✭
in Trading Cards & Memorabilia Forum
  1. As a buyer do you pay sales tax ?
  2. As a seller do you collect sales tax and if so, how??
    Anyone have any experience what that venue. I'm just trying to grasp how it really goes. I know payments go through PP, seller covers shipping, and I would say fees are about roughly 7-8%

Comments

  • jimqjimq Posts: 274 ✭✭✭

    A lot of your card's exposure comes when you first list it for sale, and when you set a price you can allow offers and set a minimum for the offers. I found that if you don't put a minimum for offers you get a lot of lowball offers. I had a PSA 9 shaq rookie auto (can't remember, maybe stadium club?) psa 9 and got an offer of $3. When I declined, they increased the offer to $4. If you don't want that hassle use a minimum. Also once the card has been live, the only way it gets seen is if someone searches with your search words so check your spelling. If it sells for more than 750, signature confirmation. Buyer pays 1% fee. They also have a section now for raw cards both singles and lots. Seems like many flippers on there. Not much Pokemon success for me, mostly newer star cards. If you have it cross-listed at ebay and myslabs don't forget to cancel one right away. When you look at your own inventory you can see how many views and watchers you have. After you ship it you have to add the tracking # to the transaction page within a couple days. That's all I can think of right now. I'm no expert but I've had an account for a few months and liked it.

  • Mickey71Mickey71 Posts: 4,252 ✭✭✭✭
    edited May 4, 2022 9:39AM

    @jimq said:
    A lot of your card's exposure comes when you first list it for sale, and when you set a price you can allow offers and set a minimum for the offers. I found that if you don't put a minimum for offers you get a lot of lowball offers. I had a PSA 9 shaq rookie auto (can't remember, maybe stadium club?) psa 9 and got an offer of $3. When I declined, they increased the offer to $4. If you don't want that hassle use a minimum. Also once the card has been live, the only way it gets seen is if someone searches with your search words so check your spelling. If it sells for more than 750, signature confirmation. Buyer pays 1% fee. They also have a section now for raw cards both singles and lots. Seems like many flippers on there. Not much Pokemon success for me, mostly newer star cards. If you have it cross-listed at ebay and myslabs don't forget to cancel one right away. When you look at your own inventory you can see how many views and watchers you have. After you ship it you have to add the tracking # to the transaction page within a couple days. That's all I can think of right now. I'm no expert but I've had an account for a few months and liked it.

    Any info on sales tax ? On ebay they take care of that for me. I don't want end of the year problems. And thank you for the info.

  • jimqjimq Posts: 274 ✭✭✭

    I didn't really sell that much, and I really didn't know what to do about sales tax so honestly I avoided it. If you belong to Net54 and ask, there's a guy over there (BobC) who I think is an accountant and he's pretty generous with his knowledge. I don't want to give you bad advice and I'm sure he knows much better than me.

  • thedutymon11thedutymon11 Posts: 668 ✭✭✭✭
    edited May 4, 2022 12:51PM

    Afternoon,

    I have been wondering that exact question myself. Since I dumped E-bay about 6 months ago, I've sold a couple Thousand on MySlabs and to a lessor extent COMC. COMC is OK I guess, in 3-4 months I've sold a few hundred $$. The problem I think with COMC is the exact reason most people shop there. Its hard to sell an item when there are 900 more of the exact card on the site. Out of 1000 Cards listed, I've sold like 10-20 in 4 months. Plus why do they list one Card from on order per day? Its ridiculous, if you start listing from a customers order, finish the order before moving on!

    Each of these orders had 100-200 cards and have been listed in dribbles in over weeks/months

                 Cards

    Order #. Pending. By Date
    24199195 -3 5/20/2022
    24223534 5 5/23/2022
    24793354 16 6/16/2022
    25444790 8 7/18/2022
    25444791 13 7/18/2022
    View Full Details

    MySlabs in my opinion is getting stronger every day but that comes with some caveats!

    1. If an item is going to sell it usually is when you are listing it to a couple of hours after. Thats because I think the search function on the site is very hard to find anything after it drops off the New Listings pages. I do searches for my own stuff and have a hard time finding them! And the fact that there are more and more stuff each day being listed is also one of the reasons items fall off the New Listings so fast!
    2. I am hoping that they can expand there Categories to expand the search categories to a few more!
    3. The nickel and dime of getting offers has pretty much turned me off from using the offers function except in a few cases. Had some Clown on a $15 item start at $5 and then increase it by a penny like 5 times, I finally just took the Offer Option off the item! And I never remember to put a minimum.
    4. I believe COMC is doing something with Sales Tax I don't understand. When I sent in my first few batches they charged me Sale Tax on the money I sent in to cover the listings fees. Is this their way of not having to collect it on Sales? Cause they've already charged it ? HuH???
    5. Anything under $10 bucks is just not worth it, after shipping and PayPal Fees you get like $5. Waste of time, easier to just throw in trash!
    6. MySlabs, Sales Tax?

    MySlabs=Yes
    COMC= Strong Maybe

    Any Thoughts.

    Thanks

    YeeHaw!

    Neil

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