hallock5 wrote: and Paypal now reporting all income to the IRS,as well, for sellers who sell over $20K and 200 items...
Good. Run a business you should have to pay taxes like everyone else.
If you are inferring that we did not report it as self-employment income in the past even when we were clearly below the thresholds set by Paypal, you are wrong. Since we were consistent producers, we could not claim the "hobby" exclusion and always complied with IRS regs.
Thank you, to all who responded. We are going to try this first with stuff around the house that we no longer need/want. That way the only outgoing money will be the eBay/PayPal fees. That should give us an idea wheather we want to continue.
Quartermoon wrote: Our stick & brick business has an Ebay store, and we use it a lot. Just make sure you have all your ducks in a row. Recent (last few years) changes have made Ebay all about the buyers and severely reduced seller's rights. For instance, buyers can leave good/neutral/bad feedback for sellers, but sellers can not leave bad feedback for buyers. _Even if they don't pay._
So it's not like a garage sale, where the buyer is gone and out of your life. Make sure you photograph and describe well, state "as-is", be clear on return policy (Ebay also just forced sellers to honor 30-day return policy), pack well, ship UPS and get signatures, etc.
When things are going smoothly, it's great and easy. But one buyer can really give you a headache.
Also, as mentioned, don't forget both Ebay and Paypal fees. They can add up, and reduce small-profit items to nano-profit items.
One of my Sons sells a lot of Star Wars and related items on Ebay. He does well at it, but as you say, you really have to be quite honest when describeing the items you are putting up for sale as well as delivering after the sale is made. You are rated on your performance on Ebay.
I have sold on eBay since the beginning of eBay. You can make a lot of $$$ or a little depending on how much time you want to put in. I now routinely make a few hundred a month spending money. I put in maybe 10 - 12 hours a week.
pawatt wrote: I have sold on eBay since the beginning of eBay. You can make a lot of $$$ or a little depending on how much time you want to put in. I now routinely make a few hundred a month spending money. I put in maybe 10 - 12 hours a week.
40-50 hours for $300. That's below minimum wage, lol.
I sell on ebay, have for years. 99% of what I sell is one line of products. Price competition is fierce on ebay. But if you can find a product you know, and buy it at a price that after ebay and Paypal fees plus shipping, will allow you to still make enough profit to put your time into it, then it is worthwhile.
I ship about 60-80 items a month, but it doesn't take me very much time at all -- I have it down to a science -- print the labels, tape them to the Priority mail boxes, and put them out for the Postman.
We have sold on Ebay for years, and most of the time, make a nice profit. I agree with several of the people hear, its all in your product, prep to sell, packaging, and follow-up.
I take lots of pictures, and describe the product to detail. I bought packing peanuts, and bubble wrap from a wholesale supply store, and follow-up with emails until the buyer is satisfied. Like "crcr" said, you have to find a niche product. This product could be one type of item you find at thrift stores, yardsales, etc. Or you can find that product wholesale, and market that.
I met a workamper that makes a small wooden game and sells enough to travel full-time. You just have to find yours. Good Luck
This was written some time back and posted on the EBAY discussion groups. It fits here.
An old jar under my house and voila…I “found” EBAY in August of 1997...the magic of the first sale…the excitement of my first star at the 10th positive feedback…shortly after that I was considered an "old timer" with a rating of 40...I went on to sell a photography shop going out of business and my feedback went from 200-500...I then sold out an antique shop (mostly of glassware) and my ratings went much further...all 937 positive feedbacks were received belly to belly (one at a time)...people sent me money orders, cashiers checks and personal checks...together we resolved what issues we had...in over 10 years I NEVER had one check to be returned...now I am thinking about beginning to sell again...and I see...EBAY is not seller friendly…I see that you must take PayPal...or some form of electronic payment, you cannot advertise that you accept checks or money orders, you cannot post negative feedback against a buyer, but they can post one against you (I‘ve yet to figure that one out)...while I would expect some changes...I see way too many “YOU CANNOT DO’S”…I do not see one positive change that has occured...there is absolutely nothing friendly about the “new EBAY“…During all of my years of selling I never lost the excitement of the sale nor the fact that I was satisfying a need
and /or a want…what would have happened had I seen the current EBAY in August of 1997?...without question…I would have been turned off then…just as I am now!!!…I want the old EBAY back!!!!
Update: February 2008, perhaps I have sold my last piece on EBAY…for an item that sold for slightly over $200 my total costs were over $10...PAYPAL scares me…and I have closed that account…there certainly wasn’t anything wrong with the old days.
Mike LeBlanc, "The Digital Guy"
Professional Photographer, Retired Art Educator
Sour Lake, Texas
Mike, you are right. I just sold a Amerasian on eBay and the buyer wanted to return it after using it at his son's wedding? I liked eBay when it first started, too. Now it is a rip off.
BTW we are at the Galveston State Park beach front for fur days in the Minnie.
2001 Minnie Winnie
Class C 450 V10 ford,
31ft, one slide
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