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Ebay's "Buy It Never"

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  • #76
    Better

    I think that the TO/IRS has the capacity and authority to "look behind" the PayPal report or payment to "see" the eBay transaction that triggered the PP transaction. From there they can identify sellers and buyers as well as the accounts that the PP payment was authorised from and paid into.

    eBay may or may not be a "facilitator" but it is also both an agent of and beneficial owner of PayPal.

    That being the case, it seems that as eBay gets a "cut" or "commission" from every PP transaction, it seems that the TO/IRS has a good case to require eBay to "report" them.

    eBay gets a "benefit" from its subordinate PP's transactions.

    I think that its way, way better to assume that all buying and selling transactions are "reported" on in one way or another than to assume (hope?) that they are not.

    Comment


    • #77
      Tuff luk

      Originally posted by squirrel
      The one good thing is eBay prices will drop! You would be shocked at the number of people buying at the auctions to specifically sell on eBay, I have seen the same people for many years working on the "cash economy". They have also driven the live auction prices up an average of 200% over the last 6 years.
      Its called the"Black" or "cash in hand" economy here in OZ and the Tax Office is right after them.

      You can include "flea markets" and similar others.

      You can include those who get their stuff sold but not listed as "extras" at clearance sales or auctions too.

      The TO here also checks banks and other lenders for loans or mortgages etc. that the borrower, on the face of it, does not have the capacity to pay off - or more likely items that are expansive and bought or sold for cash. Any item over $10,000 is included in this list and is "reportable". There are others. Transfers to or from "over-seas" are very much included.

      You won't get much sympathy from your creditors, business associates, or the local population etc. if you get "trapped" for not paying your taxes.

      Competitors will not be too sympathetic either if they think you have been either not paying tax that they had paid or that you charged it and pocketed (stole?) it.

      Comment


      • #78
        The number of people using paypal to launder money is so high it has put our company in a hardship. When I buy at the auctions I have to stop at profitable price, the "cash economy" gang has no PAYROLL, INSURANCE OR PAY TAXES so they can bid higher due to their lack of any expenses. That is what drives the secondary market value of none capital equipment so high, we need inventory so I pay more.
        Last edited by squirrel; 07-01-2010, 10:37 PM.

        Comment


        • #79
          Originally posted by JCHannum
          It does not concern me, as I have always reported my eBay and PayPal income. My main reason for posting is to point out that eBay cannot and will not be issuing 1099s. It seems that TMT and squirrel have bad information.
          If you have reported your income including your Ebay income AND paid taxes on it then you are okay.

          You are also the exception.

          Federal and state governments will pursue back taxes from past unreported Ebay income.

          Ebay has all the records from the first Ebay sale and the personal info assist the governments to locate any tax dodgers.

          All it takes is running a few programs on several databases...welcome to the wonderful world of computers.

          TMT

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          • #80
            In addition to the tax man watching Ebay, several test programs, both state and Federal are monitoring Craigslist and Facebook for offenders.

            TMT

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            • #81
              Originally posted by Too_Many_Tools
              In addition to the tax man watching Ebay, several test programs, both state and Federal are monitoring Craigslist and Facebook for offenders.

              TMT
              I think that is more for prostitution and tracking stolen goods, thats what made craigslist so popular.

              Comment


              • #82
                Originally posted by squirrel
                I think that is more for prostitution and tracking stolen goods, thats what made craigslist so popular.
                That too.

                But as I said..they are now watching Craigslist/Facebook since Ebay has been shown to be a gold mine of untapped tax revenue from underreporting/nonreported taxable income.

                TMT

                Comment


                • #83
                  Originally posted by Too_Many_Tools
                  That too.

                  But as I said..they are now watching Craigslist/Facebook since Ebay has been shown to be a gold mine of untapped tax revenue from underreporting/nonreported taxable income.

                  TMT
                  I may have to resort to Craigslist myself.

                  I've been an eBay buyer for years, but just started with the selling aspect.

                  I posted a 5C collet set auction several days ago and had the minimum at $89 with a $100 "But-It-Now".

                  Today I notice that the "But-It-Now" is gone and someone managed to bid $0.01. (How is this possible?).

                  http://cgi.ebay.com/ws/eBayISAPI.dll...m=140421944814

                  Darren Harris
                  Staten Island, New York.

                  Comment


                  • #84
                    I buy and sell a lot of items on ebay. I have 8 items on their now. I get nasty emails from people that seem to think they have the right to tell me how to list my auctions. Some people seem to be so darn impatent they insist on having it now so if it is not listed as Buy It Now they are mad and let me know they don't like it. I use to tell people to piss off but don't have time to deal with jerks so I don't answer anymore. I never list Buy It Now. I decide how much I want and that is my starting bid price. If it sells for that price that is fine and if it sells for a little more that is better. I never list auctions with a reserve and I refuse to bid on auctions with a reserve. There is a trend on ebay most people will not bid on reserve auctions. Some sellers like to list in large bold letters, NO RESERVE......pretty stupid if you ask me because it is pretty obvious to anyone that clicks on the auction and looks they can see there is no reserve you have to be blind not to see. Did you ever see [email protected]@K in the subject line. Do a search for [email protected]@K I get 103,770 auctions. Wonder how many buyers do a search for [email protected]@k. I have never seen a [email protected]@k wonder what it looks like. If I buy a [email protected]@k wonder if it is something I can use. I have no idea what a [email protected]@K is? There is a lot of people trying to sell a [email protected]@K.

                    Comment


                    • #85
                      Originally posted by D_Harris
                      I may have to resort to Craigslist myself.

                      I've been an eBay buyer for years, but just started with the selling aspect.

                      I posted a 5C collet set auction several days ago and had the minimum at $89 with a $100 "But-It-Now".

                      Today I notice that the "But-It-Now" is gone and someone managed to bid $0.01. (How is this possible?).

                      http://cgi.ebay.com/ws/eBayISAPI.dll...m=140421944814

                      Darren Harris
                      Staten Island, New York.
                      this happens if you set your auction up as an auction with a buy it now price

                      if you want to sell at a fixed price you have to choose that in the options



                      on a side note, the best way to maximize your dollars is to sell items unreserved and make sure you have the appropriate words in your title and subtitle to bring in the crowed of people your intrested in looking at your auction

                      takes a bit of research but its well worth it
                      https://www.flickr.com/photos/csprecision

                      Comment


                      • #86
                        Originally posted by D_Harris
                        I may have to resort to Craigslist myself.

                        I've been an eBay buyer for years, but just started with the selling aspect.

                        I posted a 5C collet set auction several days ago and had the minimum at $89 with a $100 "But-It-Now".

                        Today I notice that the "But-It-Now" is gone and someone managed to bid $0.01. (How is this possible?).

                        http://cgi.ebay.com/ws/eBayISAPI.dll...m=140421944814

                        Darren Harris
                        Staten Island, New York.
                        Darren, if you are 100% positive you did not have the starting bid at .01 cents change your password IMMEDIATELY! Its one of two things, that is one of the oldests scams on eBay, they would change your price and have some one else buy it or eBay has a glitch. eBay does have a glitches, we have had items that were sold months prior mysteriously re-appear, then some one buys it and we get bad feedback. We have changed ours to a very large letter and number combo and its not been cracked yet, I also have internal policy regarding how emails are handled and that has helped.

                        Comment


                        • #87
                          Originally posted by legendboy
                          this happens if you set your auction up as an auction with a buy it now price

                          if you want to sell at a fixed price you have to choose that in the options



                          on a side note, the best way to maximize your dollars is to sell items unreserved and make sure you have the appropriate words in your title and subtitle to bring in the crowed of people your intrested in looking at your auction

                          takes a bit of research but its well worth it
                          That's right. If you have an auction with no minimum as well as "Buy it Now", you lose the "Buy it Now" at the first bid. I learned that a long time ago.

                          The only time I use a reserve is if there is an item that I simply won't sell for less. Then I also have a starting bid that is substantial. Even then, a fixed price auction is a better deal. I don't use Buy it now with a reserve on an auction. If I want to do that, I will simply set a fixed price sale.

                          Comment


                          • #88
                            Originally posted by gary350
                            I buy and sell a lot of items on ebay. I have 8 items on their now. I get nasty emails from people that seem to think they have the right to tell me how to list my auctions. Some people seem to be so darn impatent they insist on having it now so if it is not listed as Buy It Now they are mad and let me know they don't like it. I use to tell people to piss off but don't have time to deal with jerks so I don't answer anymore. I never list Buy It Now. I decide how much I want and that is my starting bid price. If it sells for that price that is fine and if it sells for a little more that is better. I never list auctions with a reserve and I refuse to bid on auctions with a reserve. There is a trend on ebay most people will not bid on reserve auctions. Some sellers like to list in large bold letters, NO RESERVE......pretty stupid if you ask me because it is pretty obvious to anyone that clicks on the auction and looks they can see there is no reserve you have to be blind not to see. Did you ever see [email protected]@K in the subject line. Do a search for [email protected]@K I get 103,770 auctions. Wonder how many buyers do a search for [email protected]@k. I have never seen a [email protected]@k wonder what it looks like. If I buy a [email protected]@k wonder if it is something I can use. I have no idea what a [email protected]@K is? There is a lot of people trying to sell a [email protected]@K.

                            I agree that setting a reserve is a deal killer.

                            Most people just pass them by.

                            Note that Ebay does not offer a selection that lists NO RESERVE auctions.

                            That is a BIG tipoff that tells you that buyers get better deals on NO RESERVE auctions.

                            TMT

                            Comment


                            • #89
                              Originally posted by gnm109
                              That's right. If you have an auction with no minimum as well as "Buy it Now", you lose the "Buy it Now" at the first bid. I learned that a long time ago.

                              The only time I use a reserve is if there is an item that I simply won't sell for less. Then I also have a starting bid that is substantial. Even then, a fixed price auction is a better deal. I don't use Buy it now with a reserve on an auction. If I want to do that, I will simply set a fixed price sale.
                              You mean "Buy It Never". ;<)

                              TMT

                              Comment


                              • #90
                                Originally posted by Too_Many_Tools
                                I agree that setting a reserve is a deal killer.

                                Most people just pass them by.

                                Note that Ebay does not offer a selection that lists NO RESERVE auctions.

                                That is a BIG tipoff that tells you that buyers get better deals on NO RESERVE auctions.

                                TMT

                                Sometimes you simply have to use a reserve, however. Reserves are almost mandatory when the item you are selling is completely unique. Say you have a 1939 Martin D-28 guitar in pristine condition. You have it appraised and it's worth, say, $50,000 to a collector. (Yes, they sell for that all day long nowadays.....silly, isn't it?)

                                If I were to sell something like that, ( I wouldn't, of course, but we're just talking here) putting it up without a reserve is extremely foolish, assuming that you intend to sell to the highest bidder.

                                It would have to be reserved at the appraised value. Selling it for less wouldn't make any sense, since if it's the genuine article in proper condition, it's irreplaceable and totally unique.

                                I agree, however, if you are selling something like your grandmother's old house slippers, or your favorite Teddy Bear from your childhood, you should probably stare it at $.01. You've got to be realistic.

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