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To answer the OP's question, I've sold a variety of things over the years.
Audiobooks, in lots of 3 or 4, sorted by same author or genre.
Parts from household appliances that break, or I buy them at thrift shops to dismantle.
Plush toys, jigsaw puzzles, game pieces.
Auto parts (we once bought out a small auto parts store that went out of business).
Hobby (R/C) parts.
I stay away from clothing, because of the return factor. But good job on the Coldwatercreek sales!!
UPS will pack and ship that china for you - for a fee of course- and yes it eats into the profits. But free shipping is a big draw to buyers. I'd just add the cost of p&s on to the price and offer free shipping. If somebody wants it - they will pay.
Have considered it, but the possible learning curve in creating a listing has made me think it not worth my time. But perhaps it is not as hard as I think. I have some expensive camera equipment I need to sell, but dread the learning process.
I think your overthinking this. Don't get me wrong if selling on ebay isn't something your interested in or isn't worth the return by all means don't do it but dont write yourself off as it being too confusing because its really easy. Its prefilled columns and stuff, if you've ever filled out a job application, or any form for that matter you can sell on ebay because thats all your doing is filling out a form. Item: shirt, size: large, color: blue, andthen a descriptoin and picture.
If your struggling I'd suggest trying on a smartphone or tablet. Its a simpler mobile layout of the site and you can take pics right with the device as opposed to taking a pic with a camera and then having to get it on the computer.
I think most people really having success on ebay aren't going to share with you their product or niche because its inviting in competition. When you have a good ebay category you keep it a secret. it can actually get very competitive between people in the same niche.
I'll tell you this a good source of getting merch I found was buying storage auction lockers. For a couple hundred bucks you can literally get thousands of dollars worth of merchandise, obviously its work breaking it down and selling individually but money to be made. I've gotten designer purses, thomas the train toys, electronics and other great selling items for ebay. Now one thing I have to mention the vast majority of the stuff your going to get is not going to be ebay worthy, either too heavy to ship or just something thats not going to sell well but that stuff you can either donate for a tax credit, sell at a garage sale, flea market, craigslist, etc.
I'm sure you've either seen or are at least familiar with the show storage wars. Thats basically what I'm talking about. I think storage aucitons and police auctions are going to be a much better place to get stuff than people who go to store closeouts and stuff because the prices though discounted aren't really good enough to accomodate cheaper products on ebay plus about 13% in ebay and paypal fees.
If your at all interested there's a few good sites to find auctions in your area such as auctionzip.com or freestorageauctionlists.com. If you want to know more about it check out THIS. I've had my best luck on ebay with storage auctions. Some of the hottest selling stuff I've found has been designer purses, thomas the train plastic and wooden trains, unique knickknacks, silverware. Stuff like clothes, furntire, bedding, go on craigslist, garage sales or flea market. Something else I've had great luck with which I have found in many units is nurse or dr scrubbs that are used. I wash them clean them and they fetch a pretty good buck. I'm kind of lazy when it comes to household stuff so I normally bring it ot a upscale resale shop let htem sell them and i get 40% instead of trying to hustle them on craigslist myself.
I think most people really having success on ebay aren't going to share with you their product or niche because its inviting in competition. When you have a good ebay category you keep it a secret. it can actually get very competitive between people in the same niche.
I'll tell you this a good source of getting merch I found was buying storage auction lockers. For a couple hundred bucks you can literally get thousands of dollars worth of merchandise, obviously its work breaking it down and selling individually but money to be made. I've gotten designer purses, thomas the train toys, electronics and other great selling items for ebay. Now one thing I have to mention the vast majority of the stuff your going to get is not going to be ebay worthy, either too heavy to ship or just something thats not going to sell well but that stuff you can either donate for a tax credit, sell at a garage sale, flea market, craigslist, etc.
I'm sure you've either seen or are at least familiar with the show storage wars. Thats basically what I'm talking about. I think storage aucitons and police auctions are going to be a much better place to get stuff than people who go to store closeouts and stuff because the prices though discounted aren't really good enough to accomodate cheaper products on ebay plus about 13% in ebay and paypal fees.
If your at all interested there's a few good sites to find auctions in your area such as auctionzip.com or freestorageauctionlists.com. If you want to know more about it check out THIS. I've had my best luck on ebay with storage auctions. Some of the hottest selling stuff I've found has been designer purses, thomas the train plastic and wooden trains, unique knickknacks, silverware. Stuff like clothes, furntire, bedding, go on craigslist, garage sales or flea market. Something else I've had great luck with which I have found in many units is nurse or dr scrubbs that are used. I wash them clean them and they fetch a pretty good buck. I'm kind of lazy when it comes to household stuff so I normally bring it ot a upscale resale shop let htem sell them and i get 40% instead of trying to hustle them on craigslist myself.
At that point in time, its really becoming a second job, and yes - you should then be tracking expenses/sales/income/profit - because it is taxable.
Its not taxable if you buy a table for your house for $700 (you buy it from a consignment shop, you pay sales tax) and you use it for 2 years, and then decide you don't like it anymore ... so you take it back to the consignment shop and they sell it for $700 (lets say its a very sturdy table that doesn't depreciate) and they pay you $350.
However if you bought the table for $50 from a garage sale, and took it to the consignment shop and they sold it for $700 (paying you $350) - yes, that would be profit, and if you have enough of it (I don't know the limits, but they are not high) - you would have to pay income tax.
Which is fine, its a second job (or for some folks - their only job) after all, you should pay income tax. But a lot of people don't think about that.
We've been selling on ebay since the 1990's. My husband has some custom made items that he sells. I sell mostly leftover inventory from our main business. Yes, this is all taxable, like any other business sales.
We've also sold a few big household items, pinball machine, school equipment, and a few cars. It's important to know what you're doing to keep positive feedback. Always tell the customer everything they need to know in the listing, be 110% honest, talk about all flaws and include plenty of good photos. We've had buyers drive from several states away to pick up the big items. We don't buy much, but over the years we did buy a treadmill, the pinball machine and some used business equipment that all worked out great.
Started selling in '04. Went up into the attic and brought down some die cast cars new in the box and decided I didn't want them.
Taught myself the photo upload with a three pixel 35 dollar WalMart clearnce camera. In the end the battery door snapped a tab and I had a rubber band holding it closed.
I got into vintage Pyrex and Corning ware, it was good pickings before the recession.
Selling is waaay easier now than in the old days. Print postage direct, no more dragging to the PO.
We're parting out our classic collection of Cub Cadet lawn tractors from the 1970's and those parts bring good money.
Clothes are hot and cold, but they do eventually sell. I've only had one item returned.
I sold all of my LP records from the '80's, some went for good money. I didn't really care, I just wanted them gone. Started them all at .99 and let her rip.
Shoes sell well if they are in good shape and good brands.
Old rotary phones sell well, I never pass one up at a garage sale. The uglier the color, the better.
I sold some vintage SLR cameras and lenses just to get rid of them. Another ebayer who knew way more than I did bought the lot. I got rid of it at a fair price and she will sell it all piece by piece and the collectors will snap them up. Win win.
Last I checked no tax reporting if you sell less than 20 grand a year.
Last I checked no tax reporting if you sell less than 20 grand a year.
If you sell $20,000 or more, PayPal (and other credit card processors) will send you a 1099-K for tax reporting purposes.
If you earn any income though, you should keep good records so you can fill out a Schedule C. The IRS expects you to report your profit and pay tax on it.
Started selling in '04. Went up into the attic and brought down some die cast cars new in the box and decided I didn't want them.
Last I checked no tax reporting if you sell less than 20 grand a year.
The $20K figure is way wrong.
Selling on Ebay can be a "hobby". And whereas I said the deducting of a loss is unclear, it is all to clear now, below**. Also note: there are NO income "exclusions" listed here***:
THINK about it: Minimum wage is about $15k a year, and is TAXABLE as far as the IRS is concerned. One MAY deduct high enough to reduce/offest/get a refund from that income if applicable, however. That is NOT the case with online auctions*:
From the IRS publication 525 {Taxable and Nontaxable Income}page 29, and through to page 34:
Other Income
The following brief discussions are arranged in alphabetical order.
Other income items briefly discussed below are referenced to publications which provide more information.
Activity not for profit.
You must include on your return income from an activity from which you do not expect to make a profit. An example of this type of activity is a hobby or a farm you operate mostly for recreation and pleasure. Enter this income on Form 1040, line 21. Deductions for expenses related to the activity are limited. They cannot total more than the income you report and can be taken only if you itemize deductions on Schedule A (Form 1040). See Not-for-Profit Activities in chapter 1 of Publication 535 for information on whether an activity is considered carried on for a profit.
Sale of personal items.***
* If you sold an item you owned for personal use, such as a car, refrigerator, furniture, stereo, jewelry, or silverware, your gain is taxable as a capital gain. Report it as explained in the Instructions for Schedule D (Form 1040). **You cannot deduct a loss.
However, if you sold an item you held for investment, such as gold or silver bullion, coins, or gems, any gain is taxable as a capital gain and any loss is deductible as a capital loss. Example.
You sold a painting on an online auction website for $100. You bought the painting for $20 at a garage sale years ago. Report your $80 gain as a capital gain as explained in the Instructions for Schedule D (Form 1040).
Found property.
If you find and keep property that does not belong to you that has been lost or abandoned (treasuretrove), it is taxable to you at its fair market value in the first year it is your undisputed possession.
LOL, NOTE: even these: are taxable: Bribes.
If you receive a bribe, include it in your income.
Illegal activities.
Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule CEZ (Form 1040) if from your selfemployment activity.
One set of persons one does not want to screw with is the IRS!
I think your overthinking this. Don't get me wrong if selling on ebay isn't something your interested in or isn't worth the return by all means don't do it but dont write yourself off as it being too confusing because its really easy. Its prefilled columns and stuff, if you've ever filled out a job application, or any form for that matter you can sell on ebay because thats all your doing is filling out a form. Item: shirt, size: large, color: blue, andthen a descriptoin and picture.
If your struggling I'd suggest trying on a smartphone or tablet. Its a simpler mobile layout of the site and you can take pics right with the device as opposed to taking a pic with a camera and then having to get it on the computer.
One way to get the hang of it---buy stuff on Ebay first! Your ratings, and stars, are based on feedback either way. I started just buying some stuff I liked, like clothes, then I found I had a blue star and 100% positive rating! So, I just decided to give selling a try. Sellers trust you more if you have an established record, and at least a gold star. I would suggest to start selling with just a few items---no more than 3-5 at most, and consider t a learning experience. Start with something simple, like clothes, not your Grandmother's china set! Your main goal in the beginning is to get a perfect rating, so buyers will trst you, then expand!
I just recently sold an American Girl Doll accessory----a little dog, Bennett. Its only about 3 inches, weighs a few ounces, it sold for $30! Nice to have little extra income here and there
To answer the OP's question, I've sold a variety of things over the years.
Audiobooks, in lots of 3 or 4, sorted by same author or genre. Parts from household appliances that break, or I buy them at thrift shops to dismantle.
Plush toys, jigsaw puzzles, game pieces.
Auto parts (we once bought out a small auto parts store that went out of business).
Hobby (R/C) parts.
I stay away from clothing, because of the return factor. But good job on the Coldwatercreek sales!!
UPS will pack and ship that china for you - for a fee of course- and yes it eats into the profits. But free shipping is a big draw to buyers. I'd just add the cost of p&s on to the price and offer free shipping. If somebody wants it - they will pay.
Now there's an idea! Sometimes little parts from broken appliances, etc Many times people look for such on Ebay because the part is no longer available
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