PWCC vault?

[Republicaninmass]

Quick inner net search says

"*If*the retailer does not*collect sales tax, the purchaser has the obligation to pay use*tax*directly to the state where the property is used as long as the item is taxable. ..:"

Awfully thin line there

[steve B]

I must say that I'm enjoying the bit of discussion between Barry and Scott.
It's always nice to get the views of someone who has or is actually in that business.

Let me rephrase my thought on recommending against bidding.

Lets say there's someone who is spending loads of money every auction, and buys stuff looking at quality and investment. And their question is something like "what do you think of card X? should I go for it?"
Now lets say the card is a 9, but not a great 9 and the auctioneer knows that buyer won't ultimately be happy with it OR, a card that they feel may have peaked and should be available for less in a year or two...


I think that saying either of those things is the only honest answer. Plus, while it may not serve the consigner best, someone who regularly spends a lot may over time generate far more for the auction house.


Or, I could be entirely wrong. I'd love to hear the perspectives of people actually doing business at that sort of level.

[barrysloate]

I think you have to be honest, that's the answer. And I know as an auctioneer I need to be careful.

If I told that hypothetical bidder he might not be happy with the card and he chooses not to bid, the card is still likely to sell for a retail price, and bidder, consignor, and auction house should all be happy (hopefully).

But if I tell the bidder falsely thst he will love the card, and he gets and not only doesn't like it but wants to return it for a refund, I have a bit of a disaster on my hands. Then I might not be able to pay my consignor if the underbidder doesn't want it.

So best thing is to tell the truth. It might cost the consignor one extra bid, but IMO that's the best way to resolve that problem.

[swarmee]

"No comment" is both a lack of an answer and an answer at the same time. Maybe that's the correct response.

[MULLINS5]

What would happen if Oregon suddenly passed sales tax legislation?

[Goudey77]

Originally Posted by MULLINS5

What would happen if Oregon suddenly passed sales tax legislation?

It’s a lost cause to try and impose a sales tax in Oregon. I believe it’s been defeated by voters like a dozen times through the years. Plus the state benefits a lot from a very high income tax. Both voters and the government are comfortable where they are at.

Instead the city of Portland is toying with the idea of a beer tax in this brewery loving town.

Oregon could be the last man standing in this country when it comes to this subject.

But I never say never.

[Fuddjcal]

Originally Posted by barrysloate

I think you have to be honest, that's the answer. And I know as an auctioneer I need to be careful.

If I told that hypothetical bidder he might not be happy with the card and he chooses not to bid, the card is still likely to sell for a retail price, and bidder, consignor, and auction house should all be happy (hopefully).

But if I tell the bidder falsely thst he will love the card, and he gets and not only doesn't like it but wants to return it for a refund, I have a bit of a disaster on my hands. Then I might not be able to pay my consignor if the underbidder doesn't want it.

So best thing is to tell the truth. It might cost the consignor one extra bid, but IMO that's the best way to resolve that problem.

Imagine That Barry... Just Tell the truth, LOL. You do it but that's one thing PWCC has a hard time with because he would incriminate himself, IMHO

[pokerplyr80]

Originally Posted by Republicaninmass

Quick inner net search says

"*If*the retailer does not*collect sales tax, the purchaser has the obligation to pay use*tax*directly to the state where the property is used as long as the item is taxable. ..:"

Awfully thin line there

If the asset is shipped to Oregon, stored there, then eventually sold and shipped from there, I fail to see the issue. Perhaps I'm missing something, but the line doesn't seel thin to me at all.

Now if it's shipped to the vault, stored for a month or 2, then shipped to CA or NY I cam foresee an issue arising.

[Peter_Spaeth]

"The asset?" Oh no is Brent-speak contagious?

[pokerplyr80]

Originally Posted by Peter_Spaeth

"The asset?" Oh no is Brent-speak contagious?

Just keeping with the spirit of the thread. I am curious if any tax professionals or CPAs know how if there is an amount of time something shipped to and kept in Oregon needs to stay there so that it wouldn't be legally taxable when transported out of the state.

[Peter_Spaeth]

Originally Posted by pokerplyr80

Just keeping with the spirit of the thread. I am curious if any tax professionals or CPAs know how if there is an amount of time something shipped to and kept in Oregon needs to stay there so that it wouldn't be legally taxable when transported out of the state.

It might depend on the use tax laws and regulations of each state, although I'm not sure a temporal gap really matters if the owner continuously retained ownership even if the "asset" was physically elsewhere.

[pokerplyr80]

Originally Posted by Peter_Spaeth

It might depend on the use tax laws and regulations of each state, although I'm not sure a temporal gap really matters if the owner continuously retained ownership even if the "asset" was physically elsewhere.

If I buy a car in Oregon, register it there, and leave it there for 6 months I can then drive it to CA legally and not pay sales tax. Not sure about cards though.

[AGuinness]

Originally Posted by pokerplyr80

If I buy a car in Oregon, register it there, and leave it there for 6 months I can then drive it to CA legally and not pay sales tax. Not sure about cards though.

That might work for some nice Trucks (Virgil Trucks, that is)...


Sent from my iPhone using Tapatalk

[Peter_Spaeth]

Originally Posted by pokerplyr80

If I buy a car in Oregon, register it there, and leave it there for 6 months I can then drive it to CA legally and not pay sales tax. Not sure about cards though.

Are you sure you wouldn't then owe use tax to CA?

[vintagetoppsguy]

Originally Posted by pokerplyr80

If the asset is shipped to Oregon, stored there, then eventually sold and shipped from there, I fail to see the issue. Perhaps I'm missing something, but the line doesn't seel thin to me at all.

Now if it's shipped to the vault, stored for a month or 2, then shipped to CA or NY I cam foresee an issue arising.

Right! Not sure why people aren't getting this. It's not a service I'd use, but its perfectly legal. I would assume that if the buyer wanted to take possession of it later, then taxes would be due at that time.

[Peter_Spaeth]

Originally Posted by vintagetoppsguy

Right! Not sure why people aren't getting this. It's not a service I'd use, but its perfectly legal. I would assume that if the buyer wanted to take possession of it later, then taxes would be due at that time.

Taxes being due and taxes being paid are two different things particularly where the state doesn't know what you bought, I would assume. Whereas if it's collected at the time of sale, there's no payment issue.