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Complaining is fine, BUT...

.

 

I've been selling on eBay since 2007. My format, product and presentation have yielded consistent results... through June 2019 -- that is, some six months beyond the takeover of a controlling interest in eBay by the Elliott Group (Paul Singer, et al.)

 

I thought Elliott would lead a rebuild and expansion. Clearly we're seeing the opposite -- asset depletion, something of a financial liposuction. Profits to the principals are gained not by increasing sales, but by cutting costs.

 

It is now obvious. So what will YOU do?

Message 1 of 14
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Complaining is fine, BUT...

I'm reevaluating my entire business and may decide to end this thing.

 

 With rising shipping costs and states requiring buyers to pay sales tax on online purchases I wonder when the consumer balks. In addition, the cost of inventory is getting ridiculous. I often see sellers pay as much forsome  items as what they are selling for online.

 

Lastly, you are correct. Asset managers want publicly held companies to show increasing profits every quarter, regardless of how.

 

This leads to short tern gains, but long tern losses.

 

I am considering putting my remaining inventory up for auction and getting out. But I don't know, maybe I will decide to keep it.

 

It is the how eBay's new stakeholder will effect the quality of eBay's marketplace and the possibility of diminishing consumer demand that troubles me.

Message 2 of 14
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Complaining is fine, BUT...

I thought Elliott would lead a rebuild and expansion.

------------------------------------------------------------------------------------------

It did... to their portfolio.

Message 3 of 14
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Complaining is fine, BUT...

People were thinking that Carl Ichan would do this, too - which I thought rather hilarious, given that he's a corporate raider.  I don't see Elliott being any different, though they did pinpoint some very necessary changes, though that may have simply been to prosecute their own agenda.


“The illegal we do immediately, the unconstitutional takes a little longer.” - Henry Kissinger

"Wherever law ends, tyranny begins" -John Locke
Message 4 of 14
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Complaining is fine, BUT...

.

 

I had a sense of something up ahead last spring 2019, seeing something like like a hundred two-inch stairsteps down. But autumn then winter -- that is, the heart of the sales year -- came a couple of eight-foot drops. It was the magnitude and suddenness of the liquidity suck that tipped me off, convinced me. I've been here a long time. This was extraordinary -- not just not normal, but a deliberate, wholesale gutting.

 

Message 5 of 14
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Complaining is fine, BUT...

Right you are.

The investors want their ROI as soon as they can get it.

If they need to gut the company, they will.

I've been thinking about selling on Facebook Marketplace. Any thoughts?
Message 6 of 14
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Complaining is fine, BUT...

Realize that EBay is a business & exists to benefit those who have placed their capital at risk, expecting to receive an appropriate rate of profit, before benefiting sellers, buyers & employees.

Message 7 of 14
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Complaining is fine, BUT...

Ed said, "Realize that eBay is a business & exists to benefit those who have placed their capital at risk, expecting to receive an appropriate rate of profit, before benefiting sellers, buyers & employees."

 

Thanks, Ed. Accurate perspective. If eBay exists to benefit those who have placed their capital [and labor] at risk, I am among them. And if eBay and their handlers expect to receive an appropriate rate of profit *before benefiting sellers, buyers and employees,* that's their right. But if that "appropriate rate of profit" cuts too deeply into the livelihoods of those who underwrite that "appropriate rate of profit," then those entities have altered the balance between ownership and labor. They have, in other words, altered the terms of an unstated contract.

 

Again, fair enough. That's their prerogative. If there was once an unwritten bilateral agreement that would provide viable employment (by any name) to those willing to work for it, that threshold of viability has been unilaterally changed.

 

Origins have been forgotten: eBay sellers were and are eBay's primary customers.

 

So, in base terms, the powers-that-be no longer give two hoots about me and my family, nor you and yours (if they ever did). Okay. No love lost. But any loyalty, goodwill and faithfulness on my part has been pretty much depleted over the past nine months. If business is reciprocity, or should be, it's not so much today with eBay.

 

CONCLUSION: eBay has become unreliable.

 

Any indication they'll get a clue and come back around? None so far. And if they turned on a dime tomorrow, how long would it take to undo the damage?

     //

 

Estella said, "I've been thinking about selling on Facebook Marketplace. Any thoughts?"

 

Estella, I've heard of Facebook Marketplace, of course; but know nothing about it. (Tomorrow that will change.) How about you? What do you know, or have heard about FM? Anybody making any money there?

 

Message 8 of 14
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Complaining is fine, BUT...

It would seem from your OP that you may have been caught by surprise. 

Some, however, have suspected the handwriting on the wall for sometime, even prior to Singer, et al.

Sometimes I think it is too late and don't think it will make any difference who wins the tug-of-war.

 

On the bright side, though, it will still give everyone something to 'talk' about, much like the Internet - so many talking and so few listening.

Not saying 'NO' doesn't mean 'YES'.

The foolishness of one's actions or words is determined by the number of witnesses.

Perhaps if Brains were described as an APP, many people would use them more often.

Respect, like money, is only of 'worth' when it is earned - with all due respect, it can not be ordained, legislated or coerced. Anonymous
Message 9 of 14
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Complaining is fine, BUT...


@ed8108 wrote:

Realize that EBay is a business & exists to benefit those who have placed their capital at risk, expecting to receive an appropriate rate of profit, before benefiting sellers, buyers & employees.


And thus the health and longevity of the company.  Check.


“The illegal we do immediately, the unconstitutional takes a little longer.” - Henry Kissinger

"Wherever law ends, tyranny begins" -John Locke
Message 10 of 14
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Complaining is fine, BUT...

Nobody I know utilizes Facebook Marketplace.

I've been reluctant to use it because I would need to create a Facebook profile for myself. I don't want to do this for reasons I don't wish to explain.

I've searched, but can find nothing online that speaks to the success/failure of FM.

I'm also considering Etsy. I have roughly 100 pieces of high quality vintage clothing and 200 pieces of vintage jewelry I have never listed on eBay due to the product being high risk. Is Etsy a better place for these items? I don't know.

Lots to consider. I'm looking for advise/thoughts from any experienced seller.
Message 11 of 14
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Complaining is fine, BUT...

I have used it to buy things local, if you search nationwide on fb marketplace you have to rely on trust of seller and try to negotiate the shipping. In other words, you can put money in their fb account but you cant retrieve it if they dont ship.
Message 12 of 14
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Complaining is fine, BUT...

Further, we all see the cl search engine will direct us to vendors who use the site to refer their fb marketplace listing and offering free shipping. As far as I know, utilizing the web space is free. The same could be done to refer our ebay gigs., just sayin.
Message 13 of 14
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Complaining is fine, BUT...

I know a number of people who use FB Marketplace, but one has to deal with Zuck's empire and, despite having had a FB page since the early oughts and once having sold there pretty briskly, I rarely use the site anymore. 


“The illegal we do immediately, the unconstitutional takes a little longer.” - Henry Kissinger

"Wherever law ends, tyranny begins" -John Locke
Message 14 of 14
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