Been a while since I sold something there. So, they charged me almost 14% + tax and, to add insult to the injury, told me that my funds are blocked unless I give them my total SSN so they could report me to IRS for the sale exceeding $600. Never again!
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Got nailed by E-bay for the knife sale
- Thread starter vkosty
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- Sep 17, 2012
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Can't speak to the 14% fees, but eBay nor PayPal are at fault for the required reporting. That's a Maryland thing.
3 or 4 other states have the same low threshold for state income tax. The Fed did the same put it was put on hold for a year.
Here's a thread in the feedback section about this situation.
https://www.bladeforums.com/threads/paypal-1099.1772672/
I have no love for ebay, but here's how I see it, and I sell a lot.
If any of that stuff is important to you, you should always check terms before selling on any platform - ebay seller fees have totaled close to 14% for around ten years now - perhaps longer. In markets where I can avoid ebay seller fees I do so, but ebay allows me to reach many, many more customers than any discussion forum classifieds do, so I use them quite a bit. Also, the prices I get in discussion forum classifieds are overall so much lower than what I can get in ebay, that the fees are a wash (I have no idea about knife forums, but I'll find out at some point
)(And ebay doesn't charge sellers tax - they take that directly from the purchaser.)
Fair enoughI have no love for ebay, but here's how I see it, and I sell a lot.
If any of that stuff is important to you, you should always check terms before selling on any platform - ebay seller fees have totaled close to 14% for around ten years now - perhaps longer. In markets where I can avoid ebay seller fees I do so, but ebay allows me to reach many, many more customers than any discussion forum classifieds do, so I use them quite a bit. Also, the prices I get in discussion forum classifieds are overall so much lower than what I can get in ebay, that the fees are a wash (I have no idea about knife forums, but I'll find out at some point
(And ebay doesn't charge sellers tax - they take that directly from the purchaser.)
King of the Cheese
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Not eBay’s fault. They’re a 28 billion dollar publicly traded company. They have to follow the law.
Also, I hope my post wasn't offensive in any way - I'm often too brusque, but I definitely understand getting irritated with ebay. I think on the day I close my business or at least rid myself of ebay, I'll have a big 'f ebay' party.
Ebay used to take roughly 11% to 12% depending on the category but when they started managing payments rather than using Paypal they increased but in the end it remains the same combined total as the old days, 11% eBay and about 3% Paypal so 14% total.
The $600 thing is a bummer and I am in Maryland as well and this started for 2021 sales in our state.
The $600 thing is a bummer and I am in Maryland as well and this started for 2021 sales in our state.