Help

[jwmulch84]

I am located in the Philippines and bought an NBA card on ebay. It is now with customs and I am being charged roughly $300 in taxes. I posted the same card and sold it on Ebay because I need funds asap but the problem is, Ebay says it estimates to release the money by December 29, my guess is that when the item arrives to the buyer, and that I have to ship it by October 15. The problem is, how do I get the card from customs when I am a bit tight with cash at the moment, and even if I get it, it would take a long time before the funds clear? Is there any workaround for this?

[jwmulch84]

I'm losing money on this sale. I bought it for over $700. So basically, I am trying to salvage what I could get on a losing sale because I badly need funds.

[aproudparent2010]

You still have to pay the eBay fees for this listing. You messed up big

[ryry-jj]

Nope, ebay takes the refund money from your payment source or bank on file.    Then when the funds are released, you get paid back.  Sellers fund their entire existence, good and bad.

It sounds like you out hustled yourself.  There is no work around, you need about $1000 to cover this mess

[jwmulch84]

Or I can sell it locally and they pay for the customs charges and I get my funds faster. My apologies for being amateurish regarding conundrum I am in. I just wasn't expecting funds to be held that long. At the end of the day, it is my mistake.

[jwmulch84]

Also, this is the wrong math. I won't be down $1000 because I never got the $700 to begin with. Ebay would be refunding the buyer the money I never got. What would be left is me having to pay $300 in customs fees and maybe sell locally? 

[glorybells]

EBay holds funds for new or infrequent sellers for about 30 days after delivery; if there is a problem and the buyer files a case, eBay wants any refunds to come out of your pocket, not theirs.  That’s why you’re seeing such an extended hold on the funds.  If you cancel, which is looking like the most probable outcome, you’ll owe the refund of $700 back to your buyer right away, even though your funds won’t be released yet

[kensgiftshop]

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@jwmulch84 wrote:

Also, this is the wrong math. I won't be down $1000 because I never got the $700 to begin with. Ebay would be refunding the buyer the money I never got. What would be left is me having to pay $300 in customs fees and maybe sell locally? 

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You got, it's just on hold.

No, you have to refund the buyers money, then Ebay will send the buyers payment to you, when the hold is released.

[aproudparent2010]

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@jwmulch84 wrote:

Also, this is the wrong math. I won't be down $1000 because I never got the $700 to begin with. Ebay would be refunding the buyer the money I never got. What would be left is me having to pay $300 in customs fees and maybe sell locally? 

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Uh no since the funds are on hold you have to front that $700 from your payment source and when the hold  is released the money will go back to your payment source You also will need to pay eBay fees on this listing, you then need to pay the $300 to get the card from customs. 

[aproudparent2010]

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@jwmulch84 wrote:

The funds are being held by Ebay, so technically I don't pay anything back because Ebay could release the funds back to the buyer.

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That isn't how it works at all.

Since the funds are on hold you have to front that $700 from your payment source and when the hold  is released the money will go back to your payment source You also will need to pay eBay fees on this listing, you then need to pay the $300 to get the card from customs. 

[jwmulch84]

Got it. So looks like I'm in a bind because I didn't know money was going to be held for months.

[aproudparent2010]

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@jwmulch84 wrote:

Got it. So looks like I'm in a bind because I didn't know money was going to be held for months.

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Yep you sure are. New sellers get their money held for up to 30 days and can be even longer since you sold such a high dollar item.

Yep you need to refund the $700 to the buyer, pay the $300 to get your item from customs and also pay eBay fees.

[sin-n-dex]

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@jwmulch84 wrote:

I am located in the Philippines and bought an NBA card on ebay. It is now with customs and I am being charged roughly $300 in taxes. I posted the same card and sold it on Ebay because I need funds asap but the problem is, Ebay says it estimates to release the money by December 29, my guess is that when the item arrives to the buyer, and that I have to ship it by October 15. The problem is, how do I get the card from customs when I am a bit tight with cash at the moment, and even if I get it, it would take a long time before the funds clear? Is there any workaround for this?

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If you are being charged customs fees, you have to pay them to receive the card. Customs is not going to release the card just because you sold it to someone and need the money right now.

Any time you buy from outside your country you could be charged taxes and customs on your order. That's what happens with international shipping.

C.

[sin-n-dex]

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@jwmulch84 wrote:

The funds are being held by Ebay, so technically I don't pay anything back because Ebay could release the funds back to the buyer.

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They won't do that. When you issue a refund before eBay releases the funds to you, YOU are on the hook for the refund, you still have to wait for eBay to release the funds to you.

C.

[aproudparent2010]

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@jwmulch84 wrote:

Or I can sell it locally and they pay for the customs charges and I get my funds faster. My apologies for being amateurish regarding conundrum I am in. I just wasn't expecting funds to be held that long. At the end of the day, it is my mistake.

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How do you plan to sell something locally that you don't even have?

[simba6]

I don't know if you can pay the taxes with a credit card or if you have one. If you can that would be a short term loan to cover your cash flow problem.  Or if you can get a short term loan from your bank. As others have stated, you do have a real problem on your hands.