eBay

bldgre-80 · ‎12-20-2021

retired and bored so im going to start selling on ebay...... any suggestions, ive got lots of time on my hands, would do this just for fun. hobby...dont really need the money

firesteel_surplus · ‎12-22-2021

Ah heck....I can't resist to reply with my helpful input....

Here is what I tell people when they ask me about my ebay business and how to start.

"The first thing you do is take $500 in any denomination that you want in paper bills. Hold them up in one hand (good idea to use 100s or 50s) and light them on fire until every last bit is burned to a crisp. And don't cry. If you can do that....start selling on ebay."

I give that advice because I bought a government lot for $2000 of satellite receivers and the selling agency pulled one chip that was the brains of the system which, in turn, made the receivers absolutely unusable....and total junk. While I may have given a slight sniff or two....I did not cry.

And there you have my advice.

Mike

Firesteel Surplus

1786davycrockett · ‎12-23-2021

"For the record, I'm not wrong. If you have a problem with the tax laws change. You haven't been reporting it. Making it a LIE. That is how I came to this conclusion."

For the record -- you don't know ME, and I don't know YOU. Thus, it is presumptuous on your part to say that I have not been reporting any "profits" gained from eBay on my taxes. Unless you are my tax accountant (and you're obviously not) or my wife, or an IRS auditor, you have NO idea WHAT is reported on my taxes. Furthermore, it is none of your business -- or anybody else's.

Secondly, you called me a liar, which is libel. I don't know why eBay has not taken measures against you to correct the insult you made to me; but if you lived in my neighborhood, I would be pursuing legal action against you.

Finally, I have listed on eBay for 11 years, and have yet to make anything approaching a profit -- so there's NOTHING to report on my taxes, except an annual loss. I've been acquiring items for over 70 years; and, like many older Americans, I've finally decided to part with them. However, I am "inventory poor" -- I have far more items unsold, than items sold. And, rather than throw them out, or give them away, I've decided to try to make a little money back on eBay, by selling them, little by little, during my retirement. And I'm not alone -- there are probably hundreds of thousands of retirees, selling off their collections on eBay -- largely at a loss, considering the sizes of some of the collections that I've seen.

So before you go running around, branding us old timers as "liars" and "tax dodgers" and publicly libeling our reputations on the eBay community site, you might be advised to get your facts straight first -- 'cause this old codger is no tax dodger.

pennysdream · ‎12-24-2021

Hi Bldgre...

I am Penny. I am you. We retired and moved last summer. I started selling in September. Like you I just need to fill time. eBay does that. It takes a couple hours a day to keep up with stuff. Write listing, mail stuff, and all the extras that go with that. It keeps you mind entertained.

I would suggest that you have fun with it. It is not every ones cup of tea. It's a hobby not a job. Have fun looking for stuff to list. Find ways to make writing listings fun to do and read. Invite people to reach out. I have met the best people in the last few months. I see something in a second hand store or somewhere that George (hi George), would like.. I get it and list it. It helps me figure out what type of stuff to get.

I would also suggest that you have a plan. How much stuff do you want to list? How invested do you want to be? Be prepared to adjust pricing. You want a hobby, not a money pit. And take full advantage of all the extras that eBay offers. There are so many. There are even course you can take.

You will need to be prepared to add your sales to your taxes. Create a simple spreadsheet. Odds are you wont make a profit. Just don't make more then you are allowed. It is not all fun and games. But it can be what you want it to be. It can be a lot of fun. There is nothing like when someone bids on something your selling. Or when there is a bidding war. Everything thing you do has bad apples. Don't let them get to you.

Well that is probably more then you really wanted to know.

Thanks for being here!

Penny

Just my Two Cents...
Thank you for being here!
Penny

maxine*j · ‎12-24-2021

@firesteel_surplus wrote:
This is a pet peeve of mine and why I sometimes will not respond to newbie questions.

1. Posted 3 days ago and has not checked back in to reply to any of his/her awesome free advice.
2. Although I did not check them all....has not clicked on the thumbs up helpful on any reply.
3. Got 42 responses with great advice...and has not replied to a single one.

Or did I miss something here?
Mike
Firesteel Surplus

OP marked a solution, on Dec. 21, not long after starting the thread. The marked solution read, in its entirety, "If you're looking to have fun, better forget about it. Selling on eBay is no longer fun."

Any replies after that (yes, including my own) were really a waste of time.

=

firesteel_surplus · ‎12-24-2021

@maxine*j wrote:
@firesteel_surplus wrote:
This is a pet peeve of mine and why I sometimes will not respond to newbie questions.

OP marked a solution, on Dec. 21, not long after starting the thread. The marked solution read, in its entirety, "If you're looking to have fun, better forget about it. Selling on eBay is no longer fun."

Any replies after that (yes, including my own) were really a waste of time.

=

Well...shoot. No chance he's going to burn $500 then (see my other post for that remark.)

Thanks for the update.

Now I need to go back and read some more stuff in this thread. Looks like one heck of an argument going on about tax cheating. Threats of suits and blah blah blah. Should be interesting.

Mike

Firesteel Surplus

winterpalace25 · ‎12-24-2021

You are not taxed on the total amount, but you are taxed on all of your profit, even under $600.00. You will need to file a Schedule C with your taxes, where you can deduct your expenses and the cost of items you buy for resale. If it is stuff you own, you can use your sales price for your cost, since that is its current value. This will reduce your taxable profit quite a bit. If you are on a fixed income, your standard deduction will probably cover the rest. But because the IRS now requires the reporting of gross revenue over $600.00 by ebay and others, you need to account for income and expense.