Ebay Officially A BUMMER!

[Whalstib]

I buy more than sell on Ebay but have had good luck offloading junk I no longer want.

Not no more!

Went to sell a few items for the first time in ~a year. No problem posting and one item sold quick! Cool! Not really ...Fees have jumped to ~15%. Then find out they put a hold on my account until the can make a micro deposit and I confirm the amounts. Also a 2 week hold on funds! I've used the same account and bank for 15 years on Ebay....

Screw it! I was selling item at a loss so apologized to the buyer who was understanding and went to cancel the sale. When you do that Ebay keeps its fees. So on a cancel refund scenario they take the funds from purchase you would have received BUT you have to kick in the Ebay fees! Fine...$15 lesson learned! Go to pay and now they can't confirm my CC# either! I try 5 times making sure all particulars are correct and keep getting a message "can't confirm account, check and try again". I go to see if perhaps the micro deposits landed and see Ebay charged me 5 times! $75 and would still not cancel the sale prompting me to try yet again!

At least they answer the phone and after speaking with 3 "specialists" am told I will be refunded by Wednesday and the micro deposits by then and can proceed. All this due to severing ties with Paypal I was told.....

It's amazing how you can have a business model that relies 100% on other peoples investments and screw it up!

Anyways...a word of warning to those who like myself were selling occasionally on Ebay that it's toast and not worth the hassle. I feel lucky I only stand to lose $75 and will count it as money well spent to learn the lesson.

So fellas...learn from me!

[SteyrAUG]

Even more fun when you try and sell a mixed batch of used parts but you have a VFG in there and they deem that an "assault weapon" part and remove the listing and lock your account for 3 days.

[Artos]

Are you serious...ebay really charges 15% commission??

[Whalstib]

Are you serious...ebay really charges 15% commission??

Well...14.95%.....

[.45fan]

The new "make offer" nonsense is a deal breaker for me.
If you make an offer and the person accepts, eBay takes the money from your linked account immediately.
So if you as part of your offer tell the person you want to meet face to face and pay cash, you can't.
I get that some people might not pay, but that's some people, penalize them not everyone.

[BillBond]

I heard that ebay now sends a 1099 after $600 in sales, it used to be $10,000.

[chuckman]

I heard that ebay now sends a 1099 after $600 in sales, it used to be $10,000.

My wife sells a fair bit on eBay. She gets stuff at yard sales...children's' book, clothes, etc., for next to nothing and will make a bit of change. She adjusts the prices so the fees aren't too bad. She finances all of the family birthdays, Christmas, etc., some vacations, from these funds so we don't dip into 'operational' money.

As for the 1099, she's never gotten one.

[kerplode]

I heard that ebay now sends a 1099 after $600 in sales, it used to be $10,000.

That was delayed.. The old $20k or 200 transaction threshold for online sales continued to apply for 2023.

From what I can find, the IRS is planning to set a $5000 threshold for 1099-K issuance for online sales for the 2024 tax year and will likely lower it towards their $600 target from that point. We'll see...

[SteyrAUG]

That was delayed.. The old $20k or 200 transaction threshold for online sales continued to apply for 2023.

From what I can find, the IRS is planning to set a $5000 threshold for 1099-K issuance for online sales for the 2024 tax year and will likely lower it towards their $600 target from that point. We'll see...

The above is correct. Egay 1099'd me a few years back.

[Jellybean]

Are you serious...ebay really charges 15% commission??

Oh, it's so much dumber than just that.
You see, once upon a time....
Ebay used to charge a 'general final value fee' of 10% (some item categories like cars differed). Then Paypal would charge 3%. So you were in about 13%
Then Ebay broke up with paypal... and in typical corporate fashion, lauded it to their users as a bright new day that would save everyone money!
They promptly upscaled their general fee to 12%. Oh, well joy I guess I'm saving 1% more than I was.
Some time into that (a year or so?) they then quietly upgraded to 13%.
And a few years later, as the saying goes, "now we here"...

Basically the same thing Armslist did, just more obvious and in your face. haha