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| Selling online... starting to think it's not worth it! http://leftybassist.com/viewtopic.php?f=14&t=10629 |
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| Author: | Disco Volante [ November 20th, 2020, 12:12 am ] |
| Post subject: | Selling online... starting to think it's not worth it! |
Pretty jack of PayPal, gotta be honest. Holding money every time, despite all rules and "suggestions" being followed. Reverb will be my next whinge, once I sort this PayPal rubbish out. |
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| Author: | bobjones2260 [ November 20th, 2020, 6:27 am ] |
| Post subject: | Re: Selling online... starting to think it's not worth it! |
When I was selling alot of my basses and guitars (approx 30) I had great luck selling about 1/2 directly. I sold several on this page, Lefty Facebook groups and Craigslist. In most cases if I was shipping they paid via Paypal/Venmo and for local they paid in cash when picking up. I agree the days of ebay and reverb are not a value add as the sum of all the hidden costs really add up. To make matters worse I felt guilty jacking the price up to cover the costs. It's not until you sell a bass for $1000 on reverb then see what is deposited into your account that you realize it's not worth it. |
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| Author: | fivebass52 [ November 21st, 2020, 6:25 pm ] |
| Post subject: | Re: Selling online... starting to think it's not worth it! |
Disco Volante wrote: Pretty jack of PayPal, gotta be honest. Holding money every time, despite all rules and "suggestions" being followed. Reverb will be my next whinge, once I sort this PayPal rubbish out. There "new"/old policy, which I read just the other day, is that they will hold monies when the seller has been inactive for some time, or only sells infrequently. In otherwords, they prefer frequent sellers, to obviously keep the cash machine going. The last time I sold something, and checked the percentage dunned from my selling price from eBay/PayPal, it as 14%. Haven't sold through Reverb in awhile, but I know they're close to that figure... and surprise-surprise, Venmo is owned by.... PayPal! The only defense I have in their favor is; in the "old" days of posting and for-sale ad in a local newspaper, you were at the mercy of the local market... and if it didn't sell, you had to re-list (pay more money) for a re-insertion... I suppose 14% isn't bad, when you think of the literally world-wide advertising, being able to post pictures, reach a broad market of sellers, not having to worry about who shows up at your door, etc., it's a trade-off of convenience. If I think about having to hand over $300-plus for a $3000 bass, I'm not especially happy about it, but it's a necessary evil, unless I get lucky, and sell it locally through Craigslist, or Facebook Marketplace... Something of something, is always better than nothing of nothing, I suppose... the double-edged sword of commerce... ain't it great! |
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| Author: | paulo [ November 21st, 2020, 6:33 pm ] |
| Post subject: | Re: Selling online... starting to think it's not worth it! |
If you buy a bass you pay taxes on it, if you sell a bass you'll pay taxes on what you made too. same applies if you sell a bass here and the buyer pays as goods and services like most ppl do on talkbass. Not only you'll pay the fee but you'll get a 1099 at the end of the year. Best way would be payment as friends and family (paypal). |
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| Author: | AzWhoFan [ November 24th, 2020, 9:06 am ] |
| Post subject: | Re: Selling online... starting to think it's not worth it! |
paulo wrote: If you buy a bass you pay taxes on it, if you sell a bass you'll pay taxes on what you made too. same applies if you sell a bass here and the buyer pays as goods and services like most ppl do on talkbass. Not only you'll pay the fee but you'll get a 1099 at the end of the year. Best way would be payment as friends and family (paypal). 1099??? Wtf? I've never received a 1099 from Reverb or eBay. When did this happen? |
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| Author: | tim [ November 24th, 2020, 11:45 am ] |
| Post subject: | Re: Selling online... starting to think it's not worth it! |
For me it happened last year. In Massachusetts, where Paulo and I live, the threshold for getting a 1099 is stupid low: $200, I believe. So, sell two pedals, that's a 1099. |
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| Author: | crescenze [ November 24th, 2020, 5:31 pm ] |
| Post subject: | Re: Selling online... starting to think it's not worth it! |
tim wrote: For me it happened last year. In Massachusetts, where Paulo and I live, the threshold for getting a 1099 is stupid low: $200, I believe. So, sell two pedals, that's a 1099. Was that from Ebay or Reverb? |
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| Author: | paulo [ November 24th, 2020, 5:39 pm ] |
| Post subject: | Re: Selling online... starting to think it's not worth it! |
crescenze wrote: tim wrote: For me it happened last year. In Massachusetts, where Paulo and I live, the threshold for getting a 1099 is stupid low: $200, I believe. So, sell two pedals, that's a 1099. Was that from Ebay or Reverb? Paypal (Ebay) and Reverb. |
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| Author: | crescenze [ November 25th, 2020, 7:56 am ] |
| Post subject: | Re: Selling online... starting to think it's not worth it! |
paulo wrote: crescenze wrote: tim wrote: For me it happened last year. In Massachusetts, where Paulo and I live, the threshold for getting a 1099 is stupid low: $200, I believe. So, sell two pedals, that's a 1099. Was that from Ebay or Reverb? Paypal (Ebay) and Reverb. Interesting. Good to know. |
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