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  #1  
Old 12-30-2011, 07:02 PM
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Default Overpriced cards on ebay -- Are they part of a tax scam?

It's another dump day on ebay. Over 130 pages of cards in the pre-war category, most of them with a starting bid that is more than double full retail. These same cards are listed time and again by the same dealers with the same results -- no bids. We've all wondered what's going on. I may have an answer. It's a bit of a conspiracy theory, but let me know what you think.

Suppose you're a dealer that has paid $50,000 this year for his inventory, and had $150,000 in sales. You have $100,000 in profits that you must pay taxes on. You also have a personal collection, and you've spent $20,000 on cards for your personal collection this year. It sure would be tempting to tell the IRS that those $20,000 worth of cards are part of your commercial "inventory". Then, you could tell the IRS you spent a total of $70,000 on your inventory, and your taxable income is only $80,000 instead of $100,000.

How do you convince the IRS that your personal collection is actually part of your inventory? Easy, offer it for sale every few weeks on ebay. You don't really want to sell the stuff, so you price it ridiculously high. But you've accomplished your goal of turning your personal collection into part of your inventory and reducing your taxes.

What do you think? Could this really be going on?
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  #2  
Old 12-30-2011, 07:06 PM
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Paul, the idiot dealers in our hobby are not concerned with the IRS. The cards are overpriced because they're idiots.
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  #3  
Old 12-30-2011, 07:16 PM
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Paul,

Very interesting take on the subject and well thought out. Trying to search for cards in prewar is just becoming worse and worse. The majority of items are reprints or buy it now, or as I say buy it "never."

As a side note I wish sellers would realize that 1960 is not prewar.
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  #4  
Old 12-30-2011, 07:21 PM
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there is one seller on there, i think his ebay ID is yepbg, who has hundreds if not thousands of cards listed for 3-4x of what they would get in an auction and he steadfastly refuses to come down in price on anything.

I don't know what the purpose of listing cards like that is, but it sure seems weird. Maybe he sells some cards, but I simply cannot believe that someone is running a profitable business with 90% or more of their inventory sitting on the shelf for months and years.
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  #5  
Old 12-30-2011, 07:25 PM
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Quote:
Originally Posted by the-illini View Post
there is one seller on there, i think his ebay ID is yepbg, who has hundreds if not thousands of cards listed for 3-4x of what they would get in an auction and he steadfastly refuses to come down in price on anything.

I don't know what the purpose of listing cards like that is, but it sure seems weird. Maybe he sells some cards, but I simply cannot believe that someone is running a profitable business with 90% or more of their inventory sitting on the shelf for months and years.
He's one among many I could list of similar fashion.
I can't imagine that this is these folks primary source of income.
It seems to me that many use ebay as a way to showcase their collection and if smeone comes along that is willing to pay the excess freight charge then they will sell a card or two.
I will hand it to him, he does have a stellar inventory.
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  #6  
Old 12-30-2011, 07:33 PM
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Chris,
Dont get me started on certain sellers .The gods of high prices. As I dont buy many cards but I do buy pins.a certain seller sells graded pins at 3-5x the value of what they are worth. And god for bid if you question a certain seller about his prices he puts you right away on his blocked bidder list! I believe the certain seller doesnt sell much because anyone who is anyone is on his blocked bidder list! The certain seller is a real gem

Last edited by batsballsbases; 12-31-2011 at 08:09 AM. Reason: tired of being PMed by the certain seller
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  #7  
Old 12-30-2011, 07:45 PM
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I think you guys are missing out on a tremendous opportunity (if you are seriously interested in any of the cards in question.)

I regularly make offers and get them accepted. I simply offer fair market value. Sometimes I get rejected - so what?

There are at least two sellers I can think of who you guys complain about all the time - you used to complain about the high prices on their websites, before they were heavy into the internet. I used to contact those guys all the time and get great discounts on their cards. I'm not giving names out, as I still do it.

I once contacted one of these sellers you describe on ebay, and asked him what his strategy was, since he had a caramel Cobb priced at 2X VCP price. He sent me a link to one that had recently sold for 2X VCP price, so that pretty much shut me up. These sellers may be idiots, but there are buyers out there who are just as idiotic.
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  #8  
Old 12-30-2011, 07:48 PM
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First of all, inventory is not your only expense when figuring out your business expenses. You may have rent, office supplies, postage, electricity, telephone, etc., etc. It is not so simple as deducting purchases from sales. You also pay a large percentage on inventory.

I know. I own my own business and you would be shocked at what you have to pay on your year end inventory.....that is why you see so many "inventory reduction sales" at the end of each year.

People need to understand what it's like to run a business of their own before they make assumptions.......

Last edited by pgellis; 12-30-2011 at 07:49 PM.
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Old 12-30-2011, 07:59 PM
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Paul - The purchase of inventory for resale is not a business expense; in other words, purchsing inventory for resale does not create an income tax deduction. Rather, a business expense/tax deduction occurs when an inventory item is sold. If the item is sold for more than it cost, the resulting gross profit would be taxable, unless it is offset by other business expenses (such as selling costs).
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  #10  
Old 12-30-2011, 08:29 PM
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Quote:
Originally Posted by ValKehl View Post
Paul - The purchase of inventory for resale is not a business expense; in other words, purchsing inventory for resale does not create an income tax deduction. Rather, a business expense/tax deduction occurs when an inventory item is sold. If the item is sold for more than it cost, the resulting gross profit would be taxable, unless it is offset by other business expenses (such as selling costs).
Val
True. This also includes "personal collection" buying. The only tax event is when an item is sold and you pay taxes if you had a profit, and you don't if you had a loss (simple example ignoring rent and other overhead).

As for why sellers do this, it's simple. You can sell 20 items every day at 5% profit and you won't do better than selling 1 item a day for 100% profit. Plus preparing 1 package instead of 20 is a lot easier. The problem is that occasionally someone bites and pays the high price. They are keeping the prices unreasonable.
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  #11  
Old 12-30-2011, 08:37 PM
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Val,

Thanks for clearing that up. I didn't realize expenses were deducted only on an item by item basis when the item is sold. I guess egbeachley's explanation is as good as any. Maybe people really do occasionally pay the ridiculously high prices.

Paul
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Old 12-30-2011, 08:43 PM
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Again, a little Business 101...............

I used to work at a Liquor Store at night when I was starting my own business......people would come in all the time and say, "I can't believe the owner is getting $20 for a 30 pack of Miller Lite, he is getting $20 every time someone buys a 30 pack, and $15 for a bottle of Merlot, etc., etc."

Well that is just plain wrong. People forget that the owner has to pay for that 30 pack....it is not free. He has to pay for that bottle of wine. It is not free. He also has to pay for me to sell it to his customers (as a cashier), he has to pay rent, electicity, insurance, etc., etc. The owner is a close friend of mine and told me that he "might" make $1.00 after everything is paid for on that 30 pack of beer.............

I own my own business and people will say such dumb things as "can't you do better on that price? I mean you are going to make $15 on that item?"

No, I'm not going to make $15 on that item.......I first have to pay for it, then you have to pay for shipping (which is very expensive today), then pay for my rent, insurance, telephone, advertising, yellow pages, internet, office supplies, and time to customize it........and then maybe I make a buck or two........

Please try to understand what your small, local businesses are up against!

Last edited by pgellis; 12-30-2011 at 08:52 PM.
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  #13  
Old 12-30-2011, 08:50 PM
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Phil,

I don't think any of us are slamming small businesses. I certainly wasn't. I was just trying to figure out why some people offer the same cards on ebay month after month at many times full retail price, without ever selling them. Just seems wierd. I know they have lots of expenses, but that's all the more reason why they should be conducting legitimate auctions rather than having starting bids that are much higher than full retail price.

Paul
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Old 12-30-2011, 08:54 PM
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They don't have ALL of the same type of expenses your typical "brick and mortar" small businesses they are talking about here have. Ebay enables them by keeping the listing fees low.
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Old 12-30-2011, 08:59 PM
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Paul,

No harm. I know you aren't slamming "most" small businesses. I am just a bit touchy when it comes to running a legitimate small business. Most people just don't get how difficult it is............

As for eBay, I really don't see a tax angle, but then again, I sleep well at night knowing that I pay my "FAIR SHARE" of taxes with my business.

I don't know why some sellers don't come down on prices......my personal guess is that they aren't really sellers, but collectors and will sell their cards if they get a crazy price. I love my cards....would I sell them? NO.....but if you give me 3X - 5X what I paid for them, then..................Maybe?

Phil
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  #16  
Old 12-30-2011, 09:22 PM
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Phil,
I understand your feelings as a small business owner myself for the last 35years I can tell you there were many a day I just wanted to pack it in.
But in my reference to the one seller that was mentioned here it seems to me to be rather foolish to continue to put up the same item (in this case I will use a pin as example) at 3-5 times value for over 5 years,I know because the psa tag is the same one. And yes Scott even after emailing a more that fair price for an offer be told "I cant do that". No other reason just I cant seems to me to be a very bad business pratice. So you would rather continue to pay the relisting fee for 5 years, turning no profit,because for what ever reason you paid to much,or you just never have any intention to sell it. And this is not just on one item its on hundreds of items,to me that makes no sense. But I guess the logic is a homerun is better that a single!
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  #17  
Old 12-30-2011, 09:42 PM
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But, here is the thing, they are NOT paying a listing fee right now.

From 12/27 - 12/29, eBay has had FREE LISTING DAYS, no matter how many items you want to list.

For me, I get 50 free listings a month and then I have to pay a small fee for each listing above 50. I was getting close this month and then I got an E mail from eBay telling me that I could list however many things I wanted, FOR FREE, during those three days.

So, my guess is, these "dealers" who refuse to lower their prices just wait for these free listing days and then they list their museum pieces and hope that somebody flush with cash decides they want to overpay for something.

David
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  #18  
Old 12-31-2011, 06:49 AM
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Default Fees

Even if the listing fees are free, it still costs money to keep these items in your ebay store month after month. I pay $50 per month for the store, plus a nickel per item every month. Most of my stuff is low end, and most of my stuff is "buy it now or best offer". I normally accept any offer that is 50% or more of my BIN price. I wan't to keep turning over my inventory, because even at a nickle per month per item, if I have 800 items listed, it adds up. When I sell an item I pay 12% of the selling price, plus the paypal fee.

It does pay to make offers on items that interest you. Yes, you do run across some sellers who act like jerks when you make an offer, but you also run into some nice people who are willing to work with you. I have been watching an item for the last 3-4 months but I didn't want to pay the BIN price of $225. Yesterday I made an offer of $150, and the offer was accepted.

Don't let the jerks keep you away from the BIN's. There are still some good deals out there.

Rick
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  #19  
Old 12-31-2011, 07:19 AM
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Personally, it doesn't bother me that sellers are asking high prices for their cards. They own them, so they have a right to ask anything they want for them. If enough dealers buy up the available inventory on the market, and refuse to sell except at high prices, there's going to be inflation. I see it going on already. Cards that could be had readily at eBay auction 2 - 4 years ago are becoming more difficult to find, except via BUY IT NOW. When you do find them on auction, the final bid prices are 25 - 40% higher than a few short years ago.

I think the demand for the vintage cards is rising, and in recognition of that, sellers are asking higher and higher prices. Also, if dealing cards is not the seller's primary source of income, the indivdual can wait indefinitely to get the asking price, even if that means allowing a few years to pass for the market to catch up to the inflated asking price level.

We shouldn't bemoan that we didn't buy up cards yesterday while the prices were low. Instead, we should get out there today and buy up the vintage cards that can be had now while they're still available. They'll only cost us more tomorrow.
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  #20  
Old 12-31-2011, 07:50 AM
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It seems I was PMed by the person some of us were talking about in this thread. Instead of lurking around in the dark and sending me PMs why dont you post up and tell us why your business pratices are the way they are. So then we will all know and we can model our business after yours!Just to set the record straight I changed out any reference to your ebay handle,so I could be talking about anyone. Second in your reference to Leon Im well known on the board and if Leon wishes to give out the info to you that would be up to him. But until you post I see no reason to do that.

Last edited by batsballsbases; 12-31-2011 at 01:32 PM.
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  #21  
Old 12-31-2011, 11:00 AM
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buymycards,

If these people don't have a store, just a regular eBay auction account, then they have no extra expense and can just post their "museum" every dump day for free.

David
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  #22  
Old 12-31-2011, 11:10 AM
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Inventory is not a deduction unless it goes bad [like perishables that spoil] and you write it off. Otherwise, you carry it until disposition.

The only "tax angle" at the end of the year for a calendar year taxpayer with a card selling business is to offset actual gains from the rest of the year with losses by dumping bad inventory at a loss to free up cash flow. The theory is that if you are in the top marginal tax brackets for Fed and state then every dollar of profit will be taxed at about 40%, so if you sell dead inventory [the junk we all accumulate and can't seem to get rid of] at a blow-out sale resulting in a loss, the loss offsets marginal profits you've already realized and you are effectively dropping about 40% of the loss on the government. It isn't a recipe for success but is sometimes done when cash flow [say for an upcoming auction] is a consideration and it's time to clean out the junk box. Letting the G absorb 40% of the loss can be somewhat soothing...
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Old 12-31-2011, 11:16 AM
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Quote:
Originally Posted by Exhibitman View Post
Inventory is not a deduction unless it goes bad [like perishables that spoil] and you write it off. Otherwise, you carry it until disposition.

The only "tax angle" at the end of the year for a calendar year taxpayer with a card selling business is to offset actual gains from the rest of the year with losses by dumping bad inventory at a loss to free up cash flow. The theory is that if you are in the top marginal tax brackets for Fed and state then every dollar of profit will be taxed at about 40%, so if you sell dead inventory [the junk we all accumulate and can't seem to get rid of] at a blow-out sale resulting in a loss, the loss offsets marginal profits you've already realized and you are effectively dropping about 40% of the loss on the government. It isn't a recipe for success but is sometimes done when cash flow [say for an upcoming auction] is a consideration and it's time to clean out the junk box. Letting the G absorb 40% of the loss can be somewhat soothing...
Thanks for the tips, Adam
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Old 12-31-2011, 11:26 AM
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Originally Posted by batsballsbases View Post
It seems I was PMed by the person some of us were talking about in this thread. Instead of lurking around in the dark and sending me PMs why dont you post up and tell us why your business pratices are the way they are. So then we will all know and we can model our business after yours!Just to set the record straight I changed out any reference to your ebay handle,so I could be talking about anyone. Second in your reference to Leon Im well know on the board and if Leon wishes to give out the info to you that would be up to him. But until you post I see no reason to do that.
This person also emailed me and PM'd me today about having your name in your posts. He went so far as to cut and paste one of the rules. I guess he not only has super high prices on ebay, he didn't really read ALL of the rules. I fired back the catch-22 rule and used it on him. Even though he is a member he hasn't ever posted, not even once. I see no need to help someone that doesn't contribute and spews the rules back to me. *(rules, unfortunately for him, that I wrote). If this was an egregious issue then maybe it would be different but him just whining to me over someone stating the obvious about his auctions wasn't going to make me change my mind. best regards

I should add....for clarification, I still would tell the person that emailed me, though he hasn't asked, who this poster is but that is about it. Everyone has a right to know who is saying anything at all about them, imo.
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Old 12-31-2011, 11:29 AM
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Quote:
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This person also emailed me and PM'd me today about having your name in your posts. He went so far as to cut and paste one of the rules. I guess he not only has super high prices on ebay, he didn't really read ALL of the rules. I fired back the catch-22 rule and used it on him. Even though he is a member he hasn't ever posted, not even once. I see no need to help someone that doesn't contribute and spews the rules back to me. *(rules, unfortunately for him, that I wrote). If this was an egregious issue then maybe it would be different but him just whining to me over someone stating the obvious about his auctions wasn't going to make me change my mind. best regards
Looks like a trip to the Blocked Bidder List for you Leon.
I hope you can sleep.
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Old 12-31-2011, 11:43 AM
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Looks like a trip to the Blocked Bidder List for you Leon.


and my wife will thank him!!



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Old 12-31-2011, 01:18 PM
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Leon,
Thanks I did go back and change out his ebay handle( I will call him certain seller) but I guess my challlenge to him went un-answered. Looks to me like another high priced ebay generic idiot puffing out his chest because poor Al challenged him on his high priced junk.

Last edited by batsballsbases; 12-31-2011 at 01:19 PM.
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Old 12-31-2011, 01:28 PM
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I understand Al.
With what I had said earlier, and what has been stated here, I should add something else in this person's defense. I am not sure I have bought from him but the one time I remember making an offer, he and I couldn't reach an agreement, but he was cordial and polite in his correspondence with me. .... back to collecting ..
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Old 12-31-2011, 01:29 PM
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Originally Posted by the-illini View Post
there is one seller on there, i think his ebay ID is yepbg, who has hundreds if not thousands of cards listed for 3-4x of what they would get in an auction and he steadfastly refuses to come down in price on anything.
I just did a check on ebay; over the past 15 days yepbg has sold 6 of his highest priced 1000 cards for sale. That's actually a good 15 day period for him.
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Old 12-31-2011, 01:36 PM
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Jeff,
Look out you quoted his ebay handle , I feel a PM coming!

Last edited by batsballsbases; 12-31-2011 at 03:27 PM.
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Old 12-31-2011, 04:33 PM
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I just did a check on ebay; over the past 15 days yepbg has sold 6 of his highest priced 1000 cards for sale. That's actually a good 15 day period for him.
Remember, selling six cards at his price is like selling 12 to 18 cards at normal prices. Maybe this guy doesn't financially need to sell or is retired...to me it would be a perfect way to bring in some cash without working too hard at it (fewer trips to the post office, not to mention the assurance in knowing you got absolute top dollar for your cards).

Of course as a collector on a budget I hate this business model.

Brian

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Old 12-31-2011, 07:07 PM
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over the past 15 days yepbg has sold 6 of his highest priced 1000 cards for sale
It's a shame that collectors can't wait until his cards come up for auction from other sellers. That way they can pay around $200-$300 for the cards that they bought from him for $1,000+!! It is not like he has anything THAT rare!
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Old 12-31-2011, 09:16 PM
BlueDevil89 BlueDevil89 is offline
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It's a shame that collectors can't wait until his cards come up for auction from other sellers. That way they can pay around $200-$300 for the cards that they bought from him for $1,000+!! It is not like he has anything THAT rare!
He's not selling to collectors on this board. The buyers that take him up on his offers are either (A) collectors who have so much wealth that money is no object for cards priced under $10K or (B) those making a gift purchase for another who don't have the time to wait to maybe be the high bidder to win the item at auction. Either way, he's serving a specific segment of the market that is willing to pay more to have the item now.

I don't begrudge the seller. Perhaps he is a collector content to hold onto his cards until someone takes him up on his premium prices. If he has the financial resources to do so, then good for him. In fact, he is in some respects preferable to me to the true collector who purchases cards and then keeps them for decades without ever naming a price for which they can be purchased by others. If I want to buy the eBay seller's cards, at least I know what the price is, and I can take it or leave it. With the true collector, I don't even have the opportunity to buy his wares at any price.

Just another perspective...Happy New Year to All!
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Old 01-01-2012, 12:38 AM
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Originally Posted by brianp-beme View Post
Remember, selling six cards at his price is like selling 12 to 18 cards at normal prices.
From a sales (revenue) perspective, yes. From a profit perspective, selling 6 is probably like selling 50 at normal prices.
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Old 01-01-2012, 09:34 AM
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Originally Posted by BlueDevil89 View Post
He's not selling to collectors on this board. The buyers that take him up on his offers are either (A) collectors who have so much wealth that money is no object for cards priced under $10K or (B) those making a gift purchase for another who don't have the time to wait to maybe be the high bidder to win the item at auction. Either way, he's serving a specific segment of the market that is willing to pay more to have the item now.

I don't begrudge the seller. Perhaps he is a collector content to hold onto his cards until someone takes him up on his premium prices. If he has the financial resources to do so, then good for him. In fact, he is in some respects preferable to me to the true collector who purchases cards and then keeps them for decades without ever naming a price for which they can be purchased by others. If I want to buy the eBay seller's cards, at least I know what the price is, and I can take it or leave it. With the true collector, I don't even have the opportunity to buy his wares at any price.

Just another perspective...Happy New Year to All!
Or maybe he's just a good card-carrying capitalist. Isn't making the most profit the highest goal of capitalism?
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Old 01-01-2012, 11:20 AM
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Originally Posted by BlueDevil89 View Post
I don't begrudge the seller. Perhaps he is a collector content to hold onto his cards until someone takes him up on his premium prices. If he has the financial resources to do so, then good for him. In fact, he is in some respects preferable to me to the true collector who purchases cards and then keeps them for decades without ever naming a price for which they can be purchased by others. If I want to buy the eBay seller's cards, at least I know what the price is, and I can take it or leave it.
Nice try eBay seller who's handle I won't mention
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Old 01-01-2012, 12:18 PM
HexsHeroes HexsHeroes is offline
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Default For those collectors in sub-25% federal tax brackets . . .

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Originally Posted by Runscott View Post
Thanks for the tips, Adam
. . . operating an "on-line" business for afew years, inwhich some expendable items are sold, while preserving one's primary collection/inventory with unrealistic BIN prices) might see like a plausible strategy for preparing for future liquidation of one's collection (via 3rd party auction) inorder to avoid the higher 28% tax treatment from sales of "collectibles". I'm just not sure what the IRS would deem an acceptable level of annual sales, to justy calling something a "business".

I realize this is not likely what's happening with the number of eBay dealers with unrealistic BIN prices, but the above thought/strategy has crossed my mind when I have contemplated the possibility of selling my collection in 5, 10, maybe 15 years from now.

Last edited by HexsHeroes; 01-01-2012 at 12:19 PM.
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Old 01-01-2012, 02:02 PM
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Nice try eBay seller who's handle I won't mention
To be clear, I do not regularly sell items on eBay. My handle is not so secret (cassidys_sportcards). I haven't completed a sale transaction on eBay since 2008 (---and the only reason I completed that transaction on eBay is because a Net54 member asked me to so they could take advantage of one of eBay's special offers).
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Old 01-02-2012, 08:55 AM
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Default Taxes in Texas

Texas has a business tax based on the business assets including business inventory as of January 1st and that has to be filed by April 15th. So if a sportscard business lists their entire inventory on eBay on New Years Day, it in essense publicly displays their inventory value and if the value of the inventory doesn't jive with what's reported on their Rendition Form then that could prove very troublesome in an audit. The idea of listing 3X market value during this time would also not be a prudent move either in my opinion.

It wouldn't surprise in the least to find out that most small businesses in Texas who sell on eBay try to fly under the radar and don't even report anything year-in and year-out regarding their business asset taxes. Some I've heard write-off a substantial part of their home as business, their furniture, computers, motor vehicles as an expense for Federal Taxes, yet never report the same items plus their card inventory on their Rendition form for Texas business asset taxes.

Hypothetically, this could be a problem for a seller in some different ways. For example, lets say a Texas dealer has been running a high dollar baseball card business on eBay and never paid his Texas business asset tax in 7 years and then some disgruntled customer makes disparaging remarks on the internet regarding the seller engaging in unethical business practices. If the seller decides to sue that disgruntled customer, the seller better make sure he has all his business asset tax records paid and in order since it would be rather embarrassing to pay for some lengthy litigation only to come to the realization that you're going to have to admit to the court that you've been a brazen tax cheat.

One other way is by running for public office. It would be rather embarrassing, for major eBay seller to say for example, run for mayor of a town near Dallas and run on a platform of integrity and then be exposed as a tax cheat. Voters tend to frown upon stuff like that.

Here's more if anyone is interested

http://www.hcad.org/pdf/forms/RenGuide.pdf
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Old 01-02-2012, 09:06 AM
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Name names!
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Old 01-02-2012, 09:22 AM
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Well, when someone figures out how to sell vintage cards on ebay, whether it's offering 3X VCP-price BIN's, or something else, please let me know.

I've put BIN's up for 1/3 of what inferior examples sold by the guys you mention are being offered for. So I have no idea. I put five very nice T205's up on ebay a while back with 'make an offer' and BIN's about 2/3 of what the average dealer had....no offers - not even one.

And when I started my auctions at $9.99, I got my @ss handed to me.

So I'm throwing my hands up in the air as far as ebay is concerned. These guys are doing something right, but it must be completely behind the scenes.
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Old 01-02-2012, 10:20 AM
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Default BINs

in the last few years, there have been less and less auctions on ebay...

could it be these big dealers are scooping up the auctions and then placing them on BIN at triple the price? it seems so...
there are only 2 E90 cards up for auction, 500 at BIN, many from the seller in question...maybe he is trying to corner the ebay market...he's close

i have sold some graded cards on ebay at auction that went HIGHER than some BINS that were available at the same time in same exact grade!!

there are so few auctions on ebay these days that people get really excited and sometimes pay more for a card they could have had via BIN...sounds strange but it happened to me last month!

Last edited by ScottFandango; 01-02-2012 at 10:26 AM. Reason: spelling
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Old 01-02-2012, 10:35 AM
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Originally Posted by ScottFandango View Post
in the last few years, there have been less and less auctions on ebay...

could it be these big dealers are scooping up the auctions and then placing them on BIN at triple the price? it seems so...
there are only 2 E90 cards up for auction, 500 at BIN, many from the seller in question...maybe he is trying to corner the ebay market...hes close

i have sold some cards on ebay at auction that went HIGHER than some BINS that were available at the same time!!

auctions are so few on ebay these days that people get really excited and sometimes pay more for a card they could have has via BIN...sounds strange but it happened to me last month!
I think you have a point (your last paragraph) - auctions are still 'fun' for collectors. Whenever a big auction comes along, like the T206 set break Legendary did recently, I settle back with a bottle of wine and my 'plans', and just have a lot of fun - sometimes I buy a few cards I would not normally have bid on.

The same thing used to happen on ebay - I can remember several huge finds of various types that would get dropped on ebay, generally on a Sunday night, and would be talked about on the forum for several days. Most of these finds were dropped on us by dealers, as straight auctions, and the bidding could get crazy. What happened to that?

The current ebay BIN's are certainly crazy, but at least a few of the dealers accept reasonable offers. Some do not - I made an offer the other day that was very reasonable (30% over VCP avg), and I was surprisingly rejected. I'm guessing that there are enough idiots giving them their BIN asking price, that they don't want to have their name show up here as someone who is willing to negotiate.

BTW - I recently sold a very nice SGC40 T205 Cobb on ebay for $850...to a dealer. It will be sold on ebay for $1,100+, and I can guarantee that someone (possibly one of you) will buy it, thinking it's a deal. Mine was a straight auction. So what gives? I do think that some of you like the BIN's, even if they are high, and perhaps it is the security of buying from a known entity. I don't know - like I said, I've thrown my hands up in the air when it comes to ebay.

I much, much, much prefer selling a card a little low to one of my friends here, to selling to a dealer on ebay and paying the ebay tax on top of it all. Same goes for buying cards.

Ebay needs to go back to selling Pez dispensers.
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Old 01-02-2012, 11:04 AM
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So much of it is timing, Scott, just catching the right buyer at the right time. That's why having long-term listings in stores can work: eventually someone has to have it and they bite. I've done that myself a couple of times when I've grown frustrated looking for the last card or two in a set and have held my nose and BINed what was there. Selling is all timing. I sold an SGC 50 card a couple of weeks ago for $144.72 on Ebay; I was pleasantly surprised by the result, so I posted an SGC 80 of the same card for sale this last week for $179.99 opening bid and it did not sell. Maybe because it went up on Christmas and closed on New Years Eve...
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Old 01-02-2012, 11:26 AM
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Originally Posted by Exhibitman View Post
So much of it is timing, Scott, just catching the right buyer at the right time. That's why having long-term listings in stores can work: eventually someone has to have it and they bite. I've done that myself a couple of times when I've grown frustrated looking for the last card or two in a set and have held my nose and BINed what was there. Selling is all timing. I sold an SGC 50 card a couple of weeks ago for $144.72 on Ebay; I was pleasantly surprised by the result, so I posted an SGC 80 of the same card for sale this last week for $179.99 opening bid and it did not sell. Maybe because it went up on Christmas and closed on New Years Eve...
I have not considered ebay stores, but I'll take a look.

Meanwhile, while I will not leave my studio apt (I own it and am tremendously upside-down), I HAVE moved a woman into it, so I should get partial credit for heeding your wise advice.
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Old 01-02-2012, 12:43 PM
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Okay, I've looked. It all makes sense.

Ebay is looking for a steady, predictable revenue flow (monthly contracts) and everything else is gravy (but they also love gravy). With this in mind, they make it as pleasant as possible for people to pay them monthly fees....like $15,95, $49.95, or $299.95 to have an ebay store. The $299.95 fee makes it super-appealing for sellers to list thousands of overpriced items, even if they rarely sell much of anything. Notice also that most of the over-priced store items do NOT have the 'make an offer' button. There's a good reason for this.

Example: let's say you have a caramel card with a value of $1,000 listed at $2,000. Someone wants it, so they contact you and ask if you'd take $1,300. You say, "Yes, but only if you buy it through my non-ebay website". They go to your website, send you $1,300, no ebay fees are incurred, and you just made enough to completely cover your store fees for the entire month. Your insertion fee was 3 cents and even if you sold the item through ebay, your end-value fees were the same as for any other sale.
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Last edited by Runscott; 01-02-2012 at 12:47 PM.
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Old 01-02-2012, 10:43 PM
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Dan - Please correct me if I am wrong, but I assume that the Texas tax on business inventory is based on the COST of the inventory, which normally would be much less than the selling price of the inventory.
Val
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Old 01-03-2012, 10:41 AM
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Dan - Please correct me if I am wrong, but I assume that the Texas tax on business inventory is based on the COST of the inventory, which normally would be much less than the selling price of the inventory.
Val
Yes. And this would not apply for collectors who happen to buy and sell.
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Old 01-03-2012, 12:56 PM
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Originally Posted by buymycards View Post
Even if the listing fees are free, it still costs money to keep these items in your ebay store month after month. I pay $50 per month for the store, plus a nickel per item every month. Most of my stuff is low end, and most of my stuff is "buy it now or best offer". I normally accept any offer that is 50% or more of my BIN price. I wan't to keep turning over my inventory, because even at a nickle per month per item, if I have 800 items listed, it adds up. When I sell an item I pay 12% of the selling price, plus the paypal fee.

It does pay to make offers on items that interest you. Yes, you do run across some sellers who act like jerks when you make an offer, but you also run into some nice people who are willing to work with you. I have been watching an item for the last 3-4 months but I didn't want to pay the BIN price of $225. Yesterday I made an offer of $150, and the offer was accepted.

Don't let the jerks keep you away from the BIN's. There are still some good deals out there.

Rick



Rick is correct! That card was mine, listed at $225 and I accepted his $150. I list my stuff high as I am not in any need to sell it and I always get beaten down at shows so why should my ebay store be any different?

Rick made an offer, I looked to see what I had in it, how long I have had the card, and how rare it is. Those are factors I consider. So I have had that card awhile, it is tough but not impossible, so I accepted Rick's offer.

After fees, I think Rick wound up buying me a shot of decent vodka.

Dan
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Old 01-03-2012, 01:10 PM
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i recently offered a seller $375 for an item he was willing to sell on ebay for $400 and he rejected me saying he'd rather do the $400 transaction on ebay and give them the ~$35 instead. why? did ebay have him sign a non-competing agreement and he had to put up his first son as collateral?

i've had this happen a few times the past month...they just flatly refuse to engage to the point where they don't want to save money or do the deal.
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