How does one avoiding losing their shirts with auctions houses?

[pokerplyr80]

Originally Posted by bobbyw8469

Is PWCC losing some of their luster Jesse? Basically, they are just listing on Ebay, the same as you and I can do. Why not list the item yourself and save the $488?

I believe that max fee for a card on ebay is $250 (please correct me if I'm wrong). Plus 3% for paypal would be 375 or so in fees, or only 100 bucks less than I would get if I could realize the same price as pwcc. I highly doubt I could, and even if it were possible it would be worth the 100 bucks not to have to deal with people, returns, chargebacks, etc.

[bobbyw8469]

Originally Posted by pokerplyr80

I believe that max fee for a card on ebay is $250 (please correct me if I'm wrong). Plus 3% for paypal would be 375 or so in fees, or only 100 bucks less than I would get if I could realize the same price as pwcc. I highly doubt I could, and even if it were possible it would be worth the 100 bucks not to have to deal with people, returns, chargebacks, etc.

To each their own....if they didn't wait so long to pay out consignments, they would be perfect. But I totally get what you are saying.

[pokerplyr80]

Originally Posted by bobbyw8469

To each their own....if they didn't wait so long to pay out consignments, they would be perfect. But I totally get what you are saying.

I've never had a problem with prompt payouts and just find it easier along with netting more than I could on my own. I have used invest in baseball with cards I did not want to roll the dice on at auction. I've also sold a few cards on net54. I've been pleased with the results each time. Selling on my own is definitely as hassle though.

[irv]

Originally Posted by calvindog

Send emails to auction houses insisting upon hidden reserves and the ability to bid on your own lots. Be told that it's illegal and they won't do it by some of them -- but eventually one will allow you. Pretend you don't know what anyone is talking about when word gets out about it.

[Topnotchsy]

Thanks everyone for the replies.

I have sold cards on eBay myself and through PWCC, but at this point much of my collection is memorabilia and eBay is tricky for items like that. Auctions often don't get the eyeballs and BIN's can sit forever. (I know because I've been able to buy some really nice items on eBay for far below auction house prices...)

When it comes to selling at the auction houses it sounds like the key thing is to negotiate in advance, particularly if an item is in high demand and/or does not require much work (it is already authenticated and is a relatively standard item...)

Can someone explain (or point me in the direction) of what a resale permit is? Is it something that as a collector who also sometimes sells items can reasonably get? If I understood correctly resellers don't pay sales tax. Is that correct?

Thanks

[BobC]

Originally Posted by Topnotchsy

Thanks everyone for the replies.

I have sold cards on eBay myself and through PWCC, but at this point much of my collection is memorabilia and eBay is tricky for items like that. Auctions often don't get the eyeballs and BIN's can sit forever. (I know because I've been able to buy some really nice items on eBay for far below auction house prices...)

When it comes to selling at the auction houses it sounds like the key thing is to negotiate in advance, particularly if an item is in high demand and/or does not require much work (it is already authenticated and is a relatively standard item...)

Can someone explain (or point me in the direction) of what a resale permit is? Is it something that as a collector who also sometimes sells items can reasonably get? If I understood correctly resellers don't pay sales tax. Is that correct?

Thanks

You are probably referring to what is maybe more commonly known as a tax exemption certificate. Pretty much every state in the U.S. has a sales/use tax on their books, which charges a tax based on the selling price of certain items. The sales/use tax is normally only charged to the final buyer/consumer of the product. Like when a car dealership sells a car to a consumer, then and only then is sales tax charged on the final sales price. No sales tax is charged on all the parts the car manufacturer bought to include in the assembly of the car, nor is the dealer selling the car charged sales tax when they originally acquired it from the car manufacturer for resale. Most states require the party selling an item to someone who is exempt from paying sales tax to obtain a signed sales tax exemption certificate from the party purchasing the item to document that they are not liable to pay sales tax on what was purchased because it is part of a manufacturing process or because they are a wholesale re-seller and not the final consumer. If not for this exemption, the cost of items we buy would be ridiculously higher because of all the sales tax being charged on every step in the process of making and re-selling of products. So to answer your question, no, re-sellers normally do not pay sales tax on items they purchase for resale.

BobC

[1880nonsports]

YOU are responsible for the taxes on your sales - which you are supposed to collect on every transaction according to your jurisdiction's rules and subsequently remit same to the state. There are certain exemptions that allow you not to pay tax at the time of YOUR purchase. You need to file at least every quarter whether you had sales or not.

[wondo]

Originally Posted by pokerplyr80

I believe that max fee for a card on ebay is $250 (please correct me if I'm wrong). Plus 3% for paypal would be 375 or so in fees, or only 100 bucks less than I would get if I could realize the same price as pwcc. I highly doubt I could, and even if it were possible it would be worth the 100 bucks not to have to deal with people, returns, chargebacks, etc.

Maximum Seller's Fee at ebay is being raised from $250 to $750. The change may have already taken place.

[rats60]

Originally Posted by wondo

Maximum Seller's Fee at ebay is being raised from $250 to $750. The change may have already taken place.

Yes it has, so unless your item is going to sell for more than 12k, it is cheaper to use a consignor.