I could use some help.

[jitterbug2003]

I want to start selling as my house needs it. Can anyone lead me to the actual totals your paying besides the list that E-bay shows. I had never heard of Adyen until in here and at first I thought with a name like that who cares. I'd be more happy calling it The Vault. Read up and got their figures. I have at least 50,000 vinyl records and this is what I'm reading. 30 cents to put up and 10.2 final amount on shipping, taxes and all. Does that include Adyen?  I'm reading a flat $0.12 and a fee depending on what people use. Discovery card is $3.95. I guess I'm spoilt using pay pal almost daily. I remember when they started and gave me $15.00 to join.  So lets try this. Put up a pair of shoes for $500.00 and free shipping. Fees would be $62.75 plus $6 tax =$68.75 for E-bay plus Adyen if the customer used it?  Would that be right? Thank you 

[inhawaii · Accepted solution]

SELLING FEES

https://www.ebay.com/help/selling/fees-credits-invoices/selling-fees-managed-payments-sellers?id=482...

[klhmdg]

Adyen is the payment processer no matter who or what the buyer uses.

Fees depend on the category you list in...

But most categories are -

12.55% of total sale. total sale is item cost + shipping + tax. 

and .30 for each sale.

Most sellers figure that fees are 15 - 20%

[terrycece62]

Read all selling info and sell inexpensive items at first 

for these primary reason 

Gain feedback and selling experience 

If you make any mistakes your loss will not be high

if you sell expensive item such as extra rare LPS  that have a high dollar  price you will draw SCAMMERS 

Good luck

[jitterbug2003]

I guess I'm not explaining it right. I understand the figures and that will be final. So ebay is paying the bank fees when they pay me once a week? No other costs involved? 

[katzrul15]

@jitterbug2003 

Looks like it has been a little over a year since you sold on here?

You may be subject to selling limits initially and holds for your payouts initially as well.

Other posters have referenced Selling limits as low as $200 initially per month and other $500 per month.

[inhawaii]

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@jitterbug2003 wrote:

Can anyone lead me to the actual totals your paying besides the list that E-bay shows.

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You mean the secret hidden list of charges?

[mtgraves7984]

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@jitterbug2003 wrote:

I guess I'm not explaining it right. I understand the figures and that will be final. So ebay is paying the bank fees when they pay me once a week? No other costs involved? 

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@jitterbug2003 

Does your bank charge you fees for 'in' and 'out' transactions? If so... then, NO, eBay doesn't pay those.

[pikabo-icu]

Oh my gosh I love your handle.. Too cute..

Welcome to eBay.. 

Please read all you can- read the boards too.

If in doubt; do as you've done & post a question..

The members here are quick to try to help, as you already see from the helpful replies to your thread..

Good Luck and happy selling!! 

[caldreamer]

First thing you need to do if you are new seller is enroll in Managed Payments (required for all sellers).  You must provide checking account (routing#) and social security# (for tax purposes).   Name on checking account, social security card and EBAY profile page must be exact match (or you application may be denied.  When you get sale EBAY (deducts selling fees & shipping costs) balance is deposited into your checking account 5-7 days AFTER sale.  

Percentage (selling fees) are different for every category (not sure what it is for vinyl).

When you sell item fees based on (purchase price + shipping costs + sales tax) plus 30 processing fee.   Ayden gets 30 cent processing fee (EBAY allow buyer to use any credit card at no extra cost to you).   Only additional selling fees could be sell international money fee or use promoted listings.

Listing fees you pay every month that item is listed.   Do not expect items to sell right away....selling on EBAY is a long game.

[jayjaspersgarage]

Starting January 1st you will be subject to paying income tax on any sales over $600 per year.  Ebay and all other online platforms will be sending all of us lucky folks a 1099 if our sales exceed $600 in a calendar year.

With 50,000 vinyl records you might as well get a good accountant to set you up as an LLC.

That's a huge amount of hassle to try and sell such a massive collection on ebay.  I would contact anyone advertising to buy records in large quantities before shipping fragile flat things.  In the S.F. Bay Area there are several buyers of old record collections who advertise on Craigslist.

[eleanor*rigby]

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@jayjaspersgarage wrote:

Starting January 1st you will be subject to paying income tax on any sales over $600 per year. 

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@jitterbug2003 

Just clarifying this post a bit.

Starting in early 2023, eBay will be issuing a 1099-K form to any seller whose sales meet or exceed $600 during the 2022 tax year. You may or may not be subject to paying income tax on those sales depending on your selling expenses and/or other factors. Taxes may be due on the profit, if any, of eBay sales, but keep in mind the basic formula of "income - expenses = profit." 

eBay sellers have always been responsible for reporting sales, no matter at what level. The new law only impacts at what dollar level a 1099-K form is issued by eBay--nothing else.

Your tax preparer or local Taxpayer Assistance office would be able to help you with your reporting if and when the time comes.

[jayjaspersgarage]

Thank you for the assist.  

[dbfolks166mt]

     As a new seller you are going to be restricted on the amount and number of items you can list until you have built up a reputation as a seller. With that many records you may want to look for a local forum or marketplace where you can move the entire lot or multiple lots in one action. If you are in a large metropolitan area see if there are any consignment auction houses in your area. Many of them have reasonable seller fees and place the added fees on the buyer to earn their business income. 

     The consignment auction company also does all the work with regards to pictures, postings and some even ship. They handle the financial transactions and issue you a check or other form of payment at the completion of the sale(s). A lot less work for you especially with this type of volume. EBay may be a viable platform if you have highly sought after vinyl that you could list individually. There has been a HUGE resurgence of people interested in vinyl and virtually every estate sale I go to there is a line of people waiting to go through the boxes of vinyl.