Who finds these fees just a little high?

Boom

Check this out. Look at how much PayPal fees are just on $20.00. This is a recent change. I'll havr to go back and see when exactly these changes went into effect.

Total Amount:
$20.00 USD
Fee Amount:
-$0.88 USD
Net Amount:
$19.12 USD

If I'm not mistaken (I'll know in just a minute) up until recently the fee of $20 was 45c. It's almost doubled! Nothing like a little Greed, huh?

guysmy

Paypal totally rapes me! They charge 0.75 just to transfer funds to my (Canadian) account. They nickle and dime with the best of them.

BAJJERFAN

30 cents plus 2.9% on $20 is 58 cents so 88 cents is right

BAJJERFAN

Now you know why I hate to pay for convenience.

Murphy

My bank charges me $20 for wire transfers. I have to have a transfer every month. Ebay charges for many different things and is even worse than PayPal's charges. Everyone has their hand out and if you think about it, they are entitled to their piece of the pie, for without any one of them, we would not be doing as much business on the internet.

BAJJERFAN

Well it would cost about $110 to sell a $2000 item on eBay and pay to take yer money from PayPal. Shoot I would give the guy $5 off to send a money order and be $55 ahead [PreyPal fees are about $60 here unless you use an echeck which is $5]. I don't mind waiting a few days for my money. That $55 could buy a nice common ms63 Morgan.
In fact go to your bank, draw out 11 $5 bills, tear em up and flush em down the crapper cuz thats about all you really got fer yer $55.

Boom

Ya know...it's a matter of perspective, right? The ole "Is the glass half empty or half full" principle. True they (eBay) provide us with the venue to auction our wares. True, PayPal keeps impeccable business records (cheaper than the overhead of a shop or advertising and an employee or two or more to keep all these records, print invoices etc, etc). But what makes it really hurt is the fact that here we are peddling Gem certified pieces for next to nothing. In a lot of cases (and I do find this incredible) people thumb their noses at some PCGS 65 coins. I've seen 66s go for less than the cost of sumission. JUST THINK ABOUT THAT FOR A MINUTE...4 points short of perfection...a $200 coin going for $15)That ain't gonna get it, Man! It's insane.

I've come to the conclusuion that in MOST cases I am actually doing better selling them raw. By the time I factor in Registered, Insured postage to and from PCGS, NGC or whomever and by the time eBay and PayPal take their cuts am I REALLY making a profit? I know this has crossed all our minds at one time or another.

The downtown shop has overhead and salaries, utilities etc. Look at what must be sold just to stay in business. It's crazy! There are just so many factors / variables involved with turning a profit. All the buyers want to quote Greysheet but HEY...THIS IS THE REAL WORLD!! I think I'll restructure payment accepted on really high priced items to e-checks. This way the buyer still has the protection, security that comes with paying thru PayPal but I will cut my expenses to a $5.00 fee. Sell a $1000 item and I will save myself quite a bit. Stretch this out over a year and the money saved would be tremendous.

stman

I hear ya. I hate it in my business I can't make 100% profit. Have to pay for advertising in the yellow pages, Liability insurance, Bond, labor, supplies, materials, gas to and from to bid jobs, let alone my time!!!!!
and let's not forget about Federal and State taxes.... as I'm sure all the ebay sellers do (it is the right thing to do right?)

But hey, just go out to dinner and give a strong tip to a person that takes your order and does nothing else (that is probably a stranger) for prestige and all is good.

majorbigtime

I guess that's why the stock of Ebay (which owns Paypal) is over $100 a share! It seems the Paypal fees are about equal to the Ebay fees--what a rip!

WaterSport

Never have used Pay Pal, never will.....

Ws

Boom

Don't get me wrong. I have a Premier Business Account and for all they do, especially when I follow guidelines and every transaction's details is literally at my fingertips, they can prove to be a powerful allie.

Example, print your own shipping labels either right there with a link to the USPS or UPS or if you choose, download the free Click-N-Ship program (either way) and enter track and confirm numbers or on items valued at less than $50.01 instead of that Red Insured Stamp that just as soon say "Steal Me". you purchase Signature Confirmation and enter those numbers, it does away with all that "I never got it" nonsense.

They do seem kind of steep buy when all is considered, fact is none of us could hire anyone to do such thoroughly impeccable work for pennies on the dollar. I have yet to have a Paypal related problem. . Next time I go to complaining I need to remember all this.

proofman48

There is a great deal of valuable info in this thread!

Bikingnut

I had an auction close yesterday for a Washington quarter, no reserve, guy won it for 1.77. I asked 2.00 to ship for a total of 3.77. he pays with a credit card. Cost me another 41 cents on top of the ebay fee. I may as well have given it away. I gues I need to start designating which auctions I'll accept Paypal, and which ones I won't.

JrGMan2004

Personally, I'm willing to pay for the convenience... I use my Premier account for my EBay sales, so that I don't have to deal with telling buyers that if it's a CC payment, to send it to a different address... but fixed price sales from here on the BST or my web site, I always ask if it is from a CC payment or not, and then direct them to the approriate address for payment...

BigGreek

Ebay and Paypal are a defacto monopoly in the online auction business.
What are the alternatives? I would love to move my stuff off ebay/paypal
if there was an alternative.

orie

It still beats having to drive to a show and get $10 for your $20 coin. About buyers who want to buy at greysheet. Tell them to buy the coin from greysheet. That's what a bookie told me when I informed him the papers line was 2 points less then his. Call the paper and make the bet.

Boom

<< <i>About buyers who want to buy at greysheet. Tell them to buy the coin from greysheet. >>



Good one Orie. I love it! When I got my first Pitt Bull I asked if the dog had papers. The guy that gave him to me asked, "You want a Pitt Bull or do you want papers?" Turns out the dog was from a Championship Bloodline of Carver and Boudreaux. The animal was a part of me, like an appendage. I got him at 4 weeks old and took him EVERYWHERE I went.

He was the first and by far the best. "Loyalty with unending courage". Imagine living a life in which you do not even know
the meaning of Fear. At 28 years old owning that dog made me learn what the meaning of responsibility was in a hurry.

He loved children and weighed over 90 pounds. I had to pay attention all the time cause if I didn't he went looking to kick something's ace. I'd train him for pulling contests and my buddy was so strong he could pull any Cadillac, Lincoln....any big car, from a dead stop like it was nothing. MUSCLES? Man, they rippled on him and his head was huge. He would crack oyster shells to pieces when he was bored. He lived in the house with us till the day I had to put him down after he came down with Cancer. I could live to be 100 and will never forget my Buddy. I still well up when I think of him.

Sorry about the tangent!