eBay

stuff-n-thingsofsc · ‎05-09-2017

I have come across a problem with my seller account fees. I recently started selling U.S. currency and have been charged large fees for selling items like a $100.00 bill. I may sell it for $110.00 but i believe they charge me for the whole amount of the transaction instead of the actual $10.00 that I profit. Is there a way to get this stragitened out? I may have made $450.00 but only actually make $50.00 if i sell 4 $100.00 bills. hopes this makes sense and i hope i havent cheated myself out of profits. At this rate i now owe more than i actually made. Thanks for any help!

myoasisjewels · ‎05-09-2017

ebay does not just charge a final value fee on your profits.... the fvf is based on the total sales price, including any shipping cost you may charge.

megadestroyers · ‎05-09-2017

I don't believe ebay takes into account the face value of monies you may be selling? I could be wrong? Coin/money dealers would certainly know.

I really need to revisit some of the coin/money items I have. That $5 bill you have listed makes me wanna look harder! 🙂

Good luck.

luckythewinner · ‎05-09-2017

There is nothing to "straighten out".

The problem you have come across is that you failed to educate yourself about how eBay works.

eBay does not deduct the cost of currency before calculating fees, just as they do not deduct the cost of anything else you sell on eBay before calculating fees.

And don't forget that on a $110 total sale, PayPal is also going to take $3 and change.

smenkveld · ‎05-09-2017

@stuff-n-thingsofsc wrote:
I have come across a problem with my seller account fees. I recently started selling U.S. currency and have been charged large fees for selling items like a $100.00 bill. I may sell it for $110.00 but i believe they charge me for the whole amount of the transaction instead of the actual $10.00 that I profit. Is there a way to get this stragitened out? I may have made $450.00 but only actually make $50.00 if i sell 4 $100.00 bills. hopes this makes sense and i hope i havent cheated myself out of profits. At this rate i now owe more than i actually made. Thanks for any help!

Your post has to be one of the most BIZARRE post this year. How could someone possibly think that they would only get charged a final value fee only on the profit on an item? You get charged a fee for the total price sold for and shipping costs. Please tell me that your post was a joke

Opportunity is missed by most people because it is dressed in overalls and looks like work. Thomas Edison

d-k_treasures · ‎05-09-2017

I'm surprised ebay lets US paper money to be sold on here - after all, it says "this note is legal tender for all debts, public or private".

Except here.

I don't see any 'excluding ebay' after those words on it .........

_____________________________
"Nothing is obvious to the oblivious"

megadestroyers · ‎05-09-2017

"I don't see any 'excluding ebay' after those words on it ........."

If you look close, I bet you'll see the "In ebay We Trust"...........

Hahahahah. Nearly wet myself typing that!!

coolections · ‎05-09-2017

I don't understand why you would sell $100 bill unless it is a collectable bill. If that is the case the bill needs to be worth at least $115 just to cover postage and fees before you make a penney. At least now you know to stop trying to sell $100 bills for no profit. Ebay is not a free site like CL, it cost to sell here.

papermoneyforme · ‎05-09-2017

@megadestroyers wrote:
I don't believe ebay takes into account the face value of monies you may be selling? I could be wrong? Coin/money dealers would certainly know.

I really need to revisit some of the coin/money items I have. That $5 bill you have listed makes me wanna look harder! 🙂

Good luck.

The 5.00 is worth exactly that much. Not sure if seller has any idea of currency values or is just looking for suckers to buy them. Descriptions are out of this world and nothing but double talk and made up stories about scarce, why, etc.

Gives currency sellers a bad name. Lets see if he thinks this one is rare

megadestroyers · ‎05-09-2017

"Gives currency sellers a bad name. Lets see if he thinks this one is rare"

Ooooh. Let me take a crack. Ok.......serial numbers all different and non-sequential, so that's not it. Serial number doesn't have Elvis' birthday or some other famous date in it, like 12/7/1941, so that's not it. Series date is 1963, which could be a very good year, unless you're a Kennedy. Oooooooooooh.

Ok. I give up.......

femmefan1946 · ‎05-09-2017

EBay doesn't care what you are selling. They could be giant stuffed teddy bears or granma' teacup collection or a book you got at the thrift store.

The Final Value Fees (FVF) are based on the selling price. The teacups were inherited and free and sold for $10 each. The teddy bear cost you $50 in game tickets at the carnival(but your girlfriend let you get to second base that night). It sold for $24.62. The book cost 50 cents and sold for $600.

What is your profit on each? Did you count in your labour for photographing, describing, coding and uploading?

Remember many sellers actually lose money on some sales.

The Shipping FVF is based on the first domestic shipping fee you set (no matter which fee you actually used). There are historical reasons for this.

Then you will pay Paypal a fee which is 30 cents PLUS 2.9% on your customer's entire payment, which includes both selling price and shipping cost.

There are a few more quirks and details, but that's the basics.

Oh yeah, you are required to report your PROFIT to the tax man as income every year. So keep records of all your costs.

megadestroyers · ‎05-09-2017

"Oh yeah, you are required to report your PROFIT to the tax man as income every year. So keep records of all your costs."

Interesting thought. Seller sells $5 bill for 300 bucks. Seller, in theory, has to report a $295 profit. As the buyer, would I then be able to declare a $295 Trumpian-like loss?

Oh. Don't start on Donald!

femmefan1946 · ‎05-09-2017

From a Canadian standpoint -- we had a thing a couple of decades back about collections and collectibles for our federal value added tax (GST).

But basically, collections are only taxable when sold or when wills are probated.

As a sometime stamp dealer, the face value of the item (like a 50 cent Bluenose Scott/ Unitrade #158 - face value 50 cents actual value between $25 - $4000) is not relevant.

Only the buying and selling prices.

Same with customs. The value of the thing is the value it sells for.

We did a lot of 'estate appraisals' where the value was the probable value in a public auction. This was usually lower than the catalogue price (which chases the market, rather than setting the market).

Those appraisals* were quite often used only by the heirs. So Fred got the sterling silver teapot, Mary got the stamp collection, Ronnie got the John Deere ride on mower, and Martha got the Ferrari. The appraisals just put an agreed monetary value on everything so the heirs could even out values. Maybe everyone had to give Ronnie some cash to make it even. Maybe only Mary was paying everyone else.

Collectors would be wise to have a written, signed and dated appraisal from an expert in the field attached to their wills for just such situations.

*There can be other appraisals that are just as valid done for different purposes, like immediate cash value (lower) or insurance (higher). Depends on the purpose.