Stop getting Scammed.. Buy a Membership

How much extra does GS add to cost of the item, please?
 
jbib said:
How much extra does GS add to cost of the item, please?
Click to expand...
For domestic
It varies by amount of transaction $.49+ 2.59%-3 49%
If you use a search engine you can find a PP fee calculator to determine how much you will recieve or how much you need to pay so the person recieves a certain amount.
Or you can guesstamate about 3% and the difference won't make you rich or put you in the poor house.
 
Last edited:
Blues said:
You don't need to upgrade to Gold. You have access to DMs as long as you haven't exceeded the allotted amount. (Clear some if you are over.)

Nobody is trying to shame anyone here...it's all about protecting yourself by dealing through DMs vs email. It cuts out a large part of the window of opportunity for the scammers.
Click to expand...

I didn't know this and I'm glad I checked back on this thread. I don't sell much, but had been putting a line on my WTS/WTB/WTT posts saying I'll only communicate via DN with Gold or better members. I've gone back and changed that now. Good to know!

"If you are a BF Member (Basic/Gold/etc) with DM access, please DM and we can discuss. I will never contact you by email, nor respond to an email about knife sales."
 
jbib said:
How much extra does GS add to cost of the item, please?
Click to expand...
IMO, its not about the cost (on avg 3.5%), its about the hassle involved for the seller. Paypal now 1099's most accounts every year for G&S transactions. Also in some instances they will hold onto the funds until verification from buyers, which also leads to fraud by the buyer. I buy far more than I sell, but it's way past the point where I want to deal with it on my tax return. But on an expensive knife I would definitely consider it from both sides. I've literally had zero issues with scammers, while attempts have been made here and on other platforms. They're pretty easy to rat out. Follow the rules in the exchange, vett your sellers, ask for timestamps, and the odds of getting burned go way down. Also if it seems fishy, don't do it. The feedback system here works, and don't respond to emails unless you know the seller and/or have corresponded with them here through DM. So buy a membership, its worth the money. Nothings foolproof but a little common sense goes a long way.
 
nautiquess said:
IMO, its not about the cost (on avg 3.5%), its about the hassle involved for the seller. Paypal now 1099's most accounts every year for G&S transactions. Also in some instances they will hold onto the funds until verification from buyers, which also leads to fraud by the buyer. I buy far more than I sell, but it's way past the point where I want to deal with it on my tax return. But on an expensive knife I would definitely consider it from both sides. I've literally had zero issues with scammers, while attempts have been made here and on other platforms. They're pretty easy to rat out. Follow the rules in the exchange, vett your sellers, ask for timestamps, and the odds of getting burned go way down. Also if it seems fishy, don't do it. The feedback system here works, and don't respond to emails unless you know the seller and/or have corresponded with them here through DM. So buy a membership, its worth the money. Nothings foolproof but a little common sense goes a long way.
Click to expand...
This was outstanding, thank you! And Pro Bono to boot!!
 
I don’t see how some can buy knives for hundreds of dollars, but can’t afford a basic membership.
 
Win Heger said:
I’m still perplexed that people are still asking for PPFF. I looked at two for sale threads this AM and both asked for that. In the past I would have asked to pay G&S but now I just pass.
Click to expand...


I take F&F only because I'm in one of the states that's been taxing G&S for a few years already. I tell people to fund it with a credit card, and to check my feedback before sending, but I also understand when they prefer to pass.

On another note; I'll never send out an email when you claim a knife from me.



1737848331995.png
 
I’m an Illinois resident and although I haven’t been selling much lately, I keep track of my sales and I accept only G&S until I get close to the threshold. Then I will either stop selling until next year or resort to F&F if I absolutely must sell more that year. So far, I haven’t had to resort to F&F. Yet.
 
It cracks me up when sellers here caution buyers to not post emails in the thread and to only communicate via DM to protect from fraud.

Yet still insist upon payment via PayPal F&F.
 
GPyro said:
It cracks me up when sellers here caution buyers to not post emails in the thread and to only communicate via DM to protect from fraud.

Yet still insist upon payment via PayPal F&F.
Click to expand...
Agree.

Two recent instances where the sellers have went dark after receiving the F&F payment, one buyer out $160, the other is out $700.
 
I just did my taxes with $13,000 of sales by G&S. I sold a lot more this year than in past years. Other than having to add individual transactions for the PayPal 1099-K in Turbotax, it was pain-free. I keep a record of sales and had no problem matching sales to original purchases and the incurred shipping and PayPal fees on them. Took about an hour and could have been faster if I wasn't so OCD about entering descriptions for each item for my own records.

My goal in selling knives from my collection is to, on average, break even with my cost basis or do a little better, but not so much better that my actual additional taxable income exceeds 50% of my anticipated federal refund. This year I had $13,000 of G&S sales on a documented cost basis of about $12,000, and it reduced my federal refund by about $300. No big deal. All buyers happy. Hopefully don't get audited, but if I do, I have a paper trail for everything.
 
Win Heger said:
I’m still perplexed that people are still asking for PPFF. I looked at two for sale threads this AM and both asked for that. In the past I would have asked to pay G&S but now I just pass.
Click to expand...
The was a segment on TV about Venmo users being issued a 1099K if you sell $2K or more a year. You have to explain if this isn't income (you sold something for the same price or less than you bought it). According to the report, this figure will lessen to $600 a year by 2027 or 28. The point is to capture income from people running businesses online.
 
Locutus D'Borg said:
The was a segment on TV about Venmo users being issued a 1099K if you sell $2K or more a year. You have to explain if this isn't income (you sold something for the same price or less than you bought it). According to the report, this figure will lessen to $600 a year by 2027 or 28. The point is to capture income from people running businesses online.
Click to expand...
Paypal site says for IRS
2024 $5000
2025 $2500
2026 $600
States may have different limits
 
You must log in or register to reply here.
Back
Top