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Old 10-15-2008, 11:34 AM
 
Location: Kansas City, MO
5,763 posts, read 10,034,522 times
Reputation: 2810

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Quote:
Originally Posted by pinetar10 View Post
I keep hearing about people making lots of money on ebay, but where do the people get the items they sell. I see lots of people sell lots of clothes, new and used, but where do they get the clothes to sell?
also, do you have to pay taxes on money made on ebay? must it be claimed as income, or how does that work?

Clothes are easy. Retail stores hardly ever sell all the inventory they bought for each season and turn around and sell the overstock/clearance for pennies on the dollar. There are hundreds of websites where you can buy overstock clothes in bulk for nearly nothing. I had some success in selling clothes but books were far more profitable.


As far as claiming it as income, you have to follow IRS laws in regards to profit. If you make above a certain amount you are suppose to claim it but many people dont do that. It depends on how legal you want to be, I guess.
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Old 10-15-2008, 11:36 AM
 
Location: Kansas City, MO
5,763 posts, read 10,034,522 times
Reputation: 2810
Quote:
Originally Posted by Woof Woof Woof! View Post
People make money on ebay by lying, basically.

People that lie, dont last long. The feedback system does a great job of weeding out the bad sellers. You cant last long if you dont keep your feedback in the high 90s.

If you buy from someone that has questionable feedback then that is on you for trusting someone that has been known to lie in the past.

I have been involved in thousands of transactions on Ebay, both selling and buying. I have never once been ripped off by a seller. I have, however, been ripped off by a dishonest buyer a few times.
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Old 10-15-2008, 09:20 PM
 
Location: Naples, Fl. w/change
185 posts, read 608,558 times
Reputation: 105
I wouldn't advise selling on e-bay unless your going to be a big volume seller. The bottom line is to be honest in your dealings. If your in doubt about the taxes and setting up a good set of books seek the advice of a good CPA. To me the best way to pay taxes on my business was quarterly not yearly. It's easier on the pocketbook to dole out a little at a time.
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Old 10-15-2008, 10:46 PM
 
Location: Some place very cold
5,500 posts, read 20,671,658 times
Reputation: 4246
Quote:
Originally Posted by RjRobb2 View Post
People that lie, dont last long. The feedback system does a great job of weeding out the bad sellers. You cant last long if you dont keep your feedback in the high 90s.

If you buy from someone that has questionable feedback then that is on you for trusting someone that has been known to lie in the past.

I have been involved in thousands of transactions on Ebay, both selling and buying. I have never once been ripped off by a seller. I have, however, been ripped off by a dishonest buyer a few times.
When is the last time you used ebay? They totally changed the feedback system. No neg feedback, so how would you know?

The whole ebay system is designed to make money. That's why they don't get rid of all those sellers selling fake Hermes scarves. They want to rake in the commissions.

Ebay can kiss my tail.

*barking*
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Old 10-15-2008, 10:48 PM
 
Location: Some place very cold
5,500 posts, read 20,671,658 times
Reputation: 4246
Quote:
Originally Posted by jimj View Post
Unfortunately after dealing with the crooks that live and thrive on ebay and having run into their utter lack of enforcement of rules and to top that off their "partner" paypal's lack of standing behind their payment refund policy I can't reccommend ebay to anyone.
I know there's good people on there but with little to no oversight, the ability of a shady seller (or buyer for that matter) to destroy you with an unfounded negative it's not worth the supposed savings.
The one upside if you're looking to make money is people will buy dirt/dust on ebay.
I've never in my life seen a place where you can sell dog poo shaped like Margaret Thatcher and expect and get top $$$.
I agree with this post totally.
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Old 10-16-2008, 01:00 AM
 
Location: Naples, Fl. w/change
185 posts, read 608,558 times
Reputation: 105
Default Might Help....

Quote:
Originally Posted by pinetar10 View Post
I keep hearing about people making lots of money on ebay, but where do the people get the items they sell. I see lots of people sell lots of clothes, new and used, but where do they get the clothes to sell?
also, do you have to pay taxes on money made on ebay? must it be claimed as income, or how does that work?
2-06-08 City Data, is a thread in Hobbies & Recreation: Ebayers-Thoughts on the new restructuring? Ebay has changed so much. My boys set me wise on it. The whole thread is informative.
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Old 09-27-2009, 07:05 PM
 
Location: USA
9 posts, read 28,414 times
Reputation: 11
Ive got a good source or sources if you care to email me or check out my profile, I dont wanna get an infraction for advertising on the forum. I agree with Rick, its too tough a market to be profitable in, its better to deal with gift shops and such, it has paid off for me.
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Old 09-27-2009, 08:45 PM
 
Location: New Haven Michigan
426 posts, read 1,182,799 times
Reputation: 340
Default selling

I sell on Amazon and am getting off at the end of the year. You think EBay is bad,try there.
If you are a customer buying thru Amazon, it is a great place to shop. You can get a refund for any reason. I can't count the times I have had people order things from me then return them becasue they ordered the wrong item. This usually happens on records and cassettes. They think they are ordering CDs. Same with VHS, they think they are getting DVDs. No matter what the reason, it is counted against you.
At Christmas time, the busiest time of the year, they came up with restrictions for sellers selling toys and games. That is where the refund ratio comes in.If you get to many you can't sell them.
I called their seller support yesterday about this very issue. The rep was rude and a jerk, basically told me that Amazon does not have the time to go thru all their refunds, to determine what is and is'nt legitimate in regards to their refund ratio policy.
What happened this week was a guy ordered a LP from me. it was clearly labeled LP, it was listed in the correct category, and he still orders the LP. I get it returned to me in the mail yesteday. No E-mail from the guy beforehand or nothing. Then he says in a note to me that I sent him the wrong item.
Amazon also stopped giving sellers the buyers E-mails at time of purchase. I used to E-mail every customer and verify their purchase, this helped me in case these issues came up. At this point though it would'nt matter, once they order it, and if it is the wrong item, and I have to refund, it will still be counted against me.
Amazon also sets the shipping allowance, so you can not charge what you want. What they provide is not enough. I mainly sell old video games and the shipping on that is $3.98. I sell system packages with games and shipping is at least $12-$20 depending on where it is going. you also have to pay for a sibnature otherwise if it gets lost or customer claims they don't get it, guess what, you loose. Learned that the hard way
As for finding stuff, good luck, if you are prepared to do alot of driving to fleamarkets, thriftstores and garage sales good luck. You will probably see many people in there doing the same thing. With cell phones and prcie scanners there is way, way to much competition. Craigslist is ok once in awhile to buy stuff, but remember there are probably hundreds of other people looking at the ads doing the same thing.
I am so sick of doing this, that I can't wait to get out of it.
I have been sellig on there for five years, and every year gets worse.
Amazons feedback will kill you, if you don't get a lot of them. You get one bad one and you're done.I have maintained a 99, but it has cost me money to keep it and I have had to suck A@@ on numerous occassions where I was not in the wrong. You have to have really good people skill, and your product better be good, even then don't count on honest buyers.
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Old 09-27-2009, 11:04 PM
 
9,830 posts, read 20,181,362 times
Reputation: 7625
I got started on ebay by total accident while finishing college and within six months i had my own business.

It was March 1998 and at that time ebay had around 300000 items for sale and was tiny by comparison with today. It was really like the Wild West at the time and it's cool to have been a part of a revolution in sales of merchandise.

I did it full time for a while and then while busy with a real job did it part time. I think 2003 was my most profitable year for the least effort. But after that, I just faded away off the site as I was too busy elsewhere.

Over the years it just got too bureaucratic and expensive with getting nickel and dimed for fees plus Paypal fees. Paypal is convenient but when you are selling something for $15.00, after you pay paypal and ebay fees you don't have much margin left.

What worked for me was I sold things that would appeal to me and that I knew about. My niche was tracking items of interest down in Europe that weren't really available here and that gave me a small but useful market. I remember one item I bought for 2 euros that I sold for $125.00 to my surprise.

The fun part and the problem, is that it is like mining. When you exhaust one vein or source for items you have to find another and that was always challenging and time consuming.

Probably the most time consuming issue of all was packaging and shipping. That was always a pain in the butt and most likely where any issues with the buyer would come into play.

I always made a profit unlike many but ultimately for all the issues I moved onto other things. It taught me a lot which I further applied to my future endeavors.

I think ebaying can be a good business to do but I recommend the following to any potential seller:

1. Know your market and be prepared to constantly research it on ebay
2. Sell what you know
3. Develop a record keeping system that is simple
4. Figure out shipping methods, cost of packaging and how much time it could cost you packaging and shipping one item
5. Find multiple suppliers, don't just rely on one
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Old 09-28-2009, 12:15 AM
 
Location: California
31,990 posts, read 35,294,089 times
Reputation: 27757
I sell stuff stuff around the house that I don't want anymore. It's easy money but not something I can make a living at. I also buy many things and have had mostly good luck.
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