Ebay Fees

[Les White]

If you sell anything on ebay then you know they changed the payment system cutting out paypal, which they also own. Now ebay wants direct access to a bank account. That's a hard nope for me. I let them keep the 70 bucks they owe me and told them to close my account - it was suspended because I refused to provide them with said access and because of that I couldn't close it myself.

What you might not know is that ebay now collects sales tax on every item you sell, the buyer pays it. THEN EBAY ADDS THE SALES TAX TO THE SALE PRICE OF YOUR ITEM AND CHARGES YOU, THE SELLER, A PERCENTAGE OF THE TAX.

If your item sells for $100, you would expect to pay your final value fee of 12.55% on $100. Nope. Let's say they collect $10 in tax on your $100 sale. You pay 12.55% on $110.

Another nope for me.

I got a bunch of crap to sell. but I won't be selling it on ebay.

 

[Edg890]

Yeah Ebay stiffed me with fees last night. I just needed the item sold and bit the bullet. Won’t be happening anymore.

 

[LeeMajors]

Not true.

Yes true

 

[Les White]

Yes true

He's right, looks like paypal and ebay seperated in 2015. But ebay owned paypal for 10 or so years.

 

[LeeMajors]

I stand corrected

 

[HMP]

Yeah, I sold some stuff recently and, yes, there was a fee. But I expect that. Im using their site to access hundreds/thousands/millions of potential buyers. Im ok with it. Small amount for me to pay to get something gone.

I was bummed I couldnt just transfer to paypal

 

[fieldgrade]

Yes true

Looks like Ebay spun them out in 2015

 

[wvsig]

I do not use Ebay much anymore but if I was a seller I would simply setup a EBay only checking account which is essentially what I have for PayPal.

 

[Les White]

Yeah, I sold some stuff recently and, yes, there was a fee. But I expect that. Im using their site to access hundreds/thousands/millions of potential buyers. Im ok with it. Small amount for me to pay to get something gone.

I was bummed I couldnt just transfer to paypal

I get that, and I agree with it. But charging ME a fee on a tax that I don't collect or benefit from?

I have a similar issue with airbnb. They advertise a nightly price of $100, but after cleaning fees, administrative fees, property fees, linen fees, etc. the nightly rate is closer to $220. It wouldn't piss me off if they just said $220 a night.

 

[fieldgrade]

So, not to take a left turn here, but if I buy something on EBay, do they still take paypal for payments, or what?

 

[Button Pusher]

Yes true

Now I don't have to pay the fee to Paypal to accept the payments. I also changed to ebay for the postage. I get paid two days later.

Carl Ichan strikes again, forces Paypal spinoff.

eBay Inc. Will Spin Off PayPal in 2015: Carl Icahn Wins Again | The Motley Fool

eBay is spinning out PayPal in 2015, and also pocketing billions of dollars in debt and repatriated cash. What's going on here?

www.fool.com

 

[Button Pusher]

So, not to take a left turn here, but if I buy something on EBay, do they still take paypal for payments, or what?

Yes, you can use your paypal account on ebay to buy.

 

[Jeppo]

So, not to take a left turn here, but if I buy something on EBay, do they still take paypal for payments, or what?

They did this afternoon when I bought a Rig Rag. In fact, Discover is currently giving a 5% rebate for charges made on PayPal.

 

[chiefjason]

Oh, but you missed the best part of ebay now. The stimulus packages included language that lowered the 1099 threshold for sellers. Ebay will 1099 anyone that sells more than $600 starting this year. There are going to be some unhappy people next spring.

It's going to become harder to avoid telling the IRS about income from selling stuff online. Here's what to know

The recently enacted American Rescue Plan Act significantly lowers the threshold for when online sellers will receive a tax form.

www.cnbc.com

 

[kcult]

Oh, but you missed the best part of ebay now. The stimulus packages included language that lowered the 1099 threshold for sellers. Ebay will 1099 anyone that sells more than $600 starting this year. There are going to be some unhappy people next spring.

It's going to become harder to avoid telling the IRS about income from selling stuff online. Here's what to know

The recently enacted American Rescue Plan Act significantly lowers the threshold for when online sellers will receive a tax form.

www.cnbc.com

Gosh.

 

[RetiredUSNChief]

You'll note how the 1099 plan dovetails nicely with the ultimate goal of Uncle Sam's to eliminate cash transactions, too.

Once you eliminate cash transactions, then Uncle Sam will be able to enact laws enabling them to legally track ALL our fiscal transactions and sic the IRS on us.

 

[jimmyjames8]

I buy OOP and hard to find CD's on ebay. I sell scopes from time to time on ebay. You just have to mark it up to cover their fees. But if you think that's bad, Amazon charges something like 40% to sell on their site.