Beware 1-month subscription to Ebay store
Halfpence
Posts: 462 ✭✭✭✭
Public service announcement: unless you open an Ebay store on the first of any given month, the minimum subscription period is two months, not one month. Here's the fine print that traps you:
"Mandatory Subscription Period” shall mean the period between the Subscription Start Date and the end of the first full calendar month of your current subscription.
Case in point: I opened an Ebay store on April 12 and cancelled my subscription on the same day (after a big sale). My April invoice was charged the subscription fee, and my May invoice also had the subscription fee. My subscription actually ends on May 31 because of the fine print above.
This changes the math on whether or not an Ebay store is cost effective for one-time sales...
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Comments
Why would you open a store for a one time sale?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
To save on final value fees.
And did you?
peacockcoins
Me, personally? No- I've had a store for 15 years or so. But I've heard people say they do it, and for that reason.
I think the OP attempted to game eBay and eBay ended up gaming the OP.
peacockcoins
If so - and I’m not doubting you - if someone from EBay were starting a thread here, perhaps it would be titled: “Beware of sellers looking for 30 day subscription to Ebay store”. 😉
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Sound about right.
If you sell a $5,000 coin without having a store, the final value fee is 12.35%- $617.50
If If you sell a $5,000 coin with a basic store subscription, the subscription fee is $27.95/mo, final value fee is 6.35%- $345.45
These are silly questions. Of course I opened the store to save on final value fees. I don’t sell much, and the store saves significantly in terms of fees. EBay offers a monthly option, so it isn’t gaming the system. It’s simply making use of available options. But you really can’t open a store for a single month. Two months, minimum.
But on BST with friends and family, it's zero. [End sarcasm.]
All comments reflect the opinion of the author, even when irrefutably accurate.
But BST buyers would only pay $4,000 for the coin. [End sarcasm?]
I’d rather ask a “silly” question than chance jumping to an incorrect and unfair conclusion..
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Good point. Your question was very legitimate.
In the end, I still saved money, but not what I had calculated from the start.
There are countless threads in this forum where people lament the high fees on EBay, and others always chime in that an EBay store is their savior. They then demonstrate the savings using a single month subscription versus no subscription. That calculation is wrong. The correct calculation must use the cost for a two month subscription.
I believe those references are to the recurring monthly fee, not a "get in, get out" one time fee.
If you understand what is coming, then you can duck. If not, then you get sucker-punched. - Martin Armstrong
based on that language. you could start your store at the end of the month and it should be pro-rated and then you have to pay for the next full month, right?
you paid for basically a month and a half.
No, it isn't prorated.
eBay Who?
Nope. Here's a recent quote from jmlanzaf, for example:
"You need the basic store $22 per month. But you also get $100 in free shipping supplies for that price. And given that you are saving 4% on every sale, you only need to do $6600 per year to break even and the shipping supplies for pure profit.
But, why do you need a year's subscription? If you only do the occasional flip, buy the monthly. $25 for one month gets you the 4% discount with a break-even of $625 in sales.
Or keep paying 12.45%, if you want. If you don't sell much of anything, it won't matter. But if you don't sell stuff, why are we even having this discussion? [That's a generic "you", not a specific]
one thread is far from "countless."
If you understand what is coming, then you can duck. If not, then you get sucker-punched. - Martin Armstrong
Okay- so allow another $25 for the second month's subscription. Doesn't really invalidate the point, just changes the amount of a sale where it becomes advantageous to use a store. IMO, if you're so close to the point where an extra $25 makes a difference, you're probably wasting your time fooling around with opening and closing a store anyway.
Reminds me back in the online poker days... gaming the deposit bonus.
Never seemed to work out once they got their hooks into ya.
I sold $21K last year.
Some months were $100 and some months were $6K depending on the quality of the items and the time put into the store.
Constructive advice... This is silly.
How much time have you wasted already?
Suck it up and find some junk to sell every month to cover the store overhead.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
OP's thread was educational: The "one month" ebay store subscription requires two months minimum participation.
If you understand what is coming, then you can duck. If not, then you get sucker-punched. - Martin Armstrong
Not sure why there's hostility towards the OP. Personally, this was new information for me. Thanks!
If you open it on the 1st of the month, can't you still get away with one month?
All comments reflect the opinion of the author, even when irrefutably accurate.
BTW here's the terms
https://pages.ebay.com/stores/subscriptionterms.html
It indicates a one time billing that covers a full month plus the "prorated period". That does not read too me as two full month subscriptions.
In the case of the OP, he should have paid for 3 days + one month.
All comments reflect the opinion of the author, even when irrefutably accurate.
According to the Terms, it's supposed to be prorated. See #5 of the terms.
https://pages.ebay.com/stores/subscriptionterms.html
All comments reflect the opinion of the author, even when irrefutably accurate.
A basic store is just $27.95 a month. Doesn’t compute somebody would want one just a month or 2.....But that’s them.
With an eBay store it’s like having a table at the worlds largest show. Beats a table fee $150 at local shows.
I don't believe this is true, but I'm not sure:
When canceling your Stores subscription:
If you have a monthly subscription and you cancel your Store during the Mandatory Subscription Period:
You’re billed the current Store subscription fees for the Mandatory Subscription Period.
Recall that “Mandatory Subscription Period” shall mean the period between the Subscription Start Date and the end of the first full calendar month of your current subscription
Yes! That's my hope if I ever have another big item to sell.
Presumably, the whole point of a monthly subscription is to cater to those who don't sell enough for an annual subscription. Take me, for instance, who rarely sells anything. Occasionally I have a high-end item to sell, and it really hurts to pay 13%. So why not open a store for a month to save costs? From now on, I'll use a two-month calculation, though.
I'd imagine like most subscription services eBay is hoping you join and pay monthly whether you sell anything or not. I know I've been paying a monthly subscription rate for Apple TV and I haven't watched anything on it since Ted Lasso. (I really do need to cancel that premium service!)
peacockcoins
I believe the 6.35% final value fee is for coin sales for store subscribers that haven't signed up for managed payment, they would also be subject to a 2.9% PayPal fee (another $145.00) for a total of $490.45
If you are signed up for managed payments Basic store subscribers pay 8.5% plus 30 cents on the first $4,000 and 2.35% on the additional $1,000 for a total of $362.50.
it's crackers to slip a rozzer the dropsy in snide
Sounds good. I just looked up eBay fees, didn't check the difference between managed payments and non-managed payments. So- managed payments is cheaper, it would appear. Seems like somebody has been saying that for a while now.
Lol. It's a smooth operating service with a cheaper cost. Where have all the haters gone?
All comments reflect the opinion of the author, even when irrefutably accurate.
eBay drained my PayPal account
Huh?
I thought Bitcoin did that.
All comments reflect the opinion of the author, even when irrefutably accurate.
I made $1100 after fees on my Paypal crypto trading.
eBay drained my account so no more Paypal crypto for me.
The last time I checked my Coinbase account, I was only down 2%, probably a little more now.
But why did ebay drain your PayPal account? Do you mean it shut off the source of the funds? That's different than draining.
All comments reflect the opinion of the author, even when irrefutably accurate.
No, they drained it.
Ebay shipping charges goes through paypal.
All new purchases go thru Paypal.
eBay dumps money into my bank account when I want it to go to PayPal.
No more email contact of my clients. Great for eBay, horrible for small business
Look at you in the anti-eBay camp.
All comments reflect the opinion of the author, even when irrefutably accurate.
EBay shipping charges don't have to go through PayPal. Mine go through managed payments.
All comments reflect the opinion of the author, even when irrefutably accurate.
Well! The simple solution to that is to have your Credit Card set up as the preferred payment. If that doesn't work then just don't keep a balance in paypal if you want it to go to your cash back CC which I do. I figure it's good for around $200 a year in cash back for me.
I looked and couldn't figure it out.
How do you make that change and then does eBay take money from your bank account?
No they take it from the managed payment balance.
All comments reflect the opinion of the author, even when irrefutably accurate.
You can pay for shipping with the money eBay collects through managed payments.
You can pay for your purchases by using your credit card on PayPal.
You can transfer money from your bank to your PayPal account.
That ship sailed last year.
https://community.ebay.com/t5/Selling/how-to-change-funding-for-ebay-shipping-labels/td-p/29697167
All comments reflect the opinion of the author, even when irrefutably accurate.
Click "Purchase shipping label" on the "Awaiting shipment" page.
At the bottom of the page, there's a "Select how to pay" link.
Click the "Change to pay with your pending payouts" link.
The money comes from pending payouts, not your bank account.
eBay dumps my money into my bank account daily so that is not an option unless I change it to monthly or weekly payouts
Got into this late, but the terms are pretty set forward to me. Per Ebay.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
Change to weekly.