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eBay just increased seller fees on watches to 15% ...

kaplan
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Basically the bare fees are 15% (they were 12.85% before, still high) - if it's an international sale, you pay 1.55% more, and you pay VAT on that, so 20% gone instantly - afterwards, either Paypal or Payoneer cuts around 5% with hidden fees

All in all, around 25% gone

I both buy and sell watches, as a hobby, I started liking Catawiki too, but they get 9% from the buyer, 12.5% from the seller, and Payoneer gets another 5% ish at least with hidden fees

So I guess Chrono24 started seeming good, never could buy a single watch there, sellers usually insist on extremely illogical prices, yet they seem to have a flat 6.5% fee on paper

The sad things is, eBay is still a pretty good place to get rid of things you no longer want, the reach is quite impressive

What do you guys think, anyone using Chrono24?
 
Dan S
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eBay fees on watch sales are actually much lower than they used to be in the past except for lower end watches. The 15% is only for the first $1k, which is not much more than the 13% we used to pay to eBay and PP combined all the way up to $7,500.

Now, after the first $1k, the fees are only 6.5% total, which is really a substantial savings. And after $7500 it goes down even more.

Yes, for a short time they were charging 12.35% for the first $1k, so they are taking a small extra amount on low-priced watch sales (a maximum of $26 more), but overall I feel this fee structure is very advantageous for everything but very cheap watches.

The main thing I find annoying is that they charge the fee on the total amount including taxes and shipping. I really don't understand the rationale for that, but I guess they can do what they want.

Chrono24 charges 6.5% to the seller and 5% to the buyer IIRC.
 
kaplan
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Most of the Vintage Omega's are sub $1000 tho, as a concrete example, $169 becomes $132 net - so it's actually 22%. - I think Payoneer reduced their hidden fx fees - I remember them being MUCH higher

I think the 5% buyers fee on Chrono24 could be fluid, I researched it now, some said it's only for US buyers, but I tried a US address too, when you send a price suggestion, the price you offer seems inclusive, and doesn't include the fee, unless the seller is double fee'd

Just a flat 6.5% fee would be awesome I guess, they still add 1.55% on top of it if it's an international sale, and you pay VAT on the final fee that is calculated on the amount that the buyer pays - so even the 6.5% can reach 10% 😁
 
GuiltyBoomerang
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In Australia eBay got rid of payments to sellers via PayPal, so now we receive it via direct deposit sans fees (which is roughly 15%.) As far as I can tell that's all the deductions they do, so no extra seller fees invoiced at the end of the month (unless you go over your free listing cap.)

With the region I'm in now under a 2 week lockdown, it's time to dig up things to move on...
 
GuiltunderGlass
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Instagram ＋Wire or Wise, etc. I know it doesn't reach as many ppl, but eBay is just such a hassle compared to the good ole days and PP can be a nightmare.
 
gatorcpa
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Dan S Dan S
The main thing I find annoying is that they charge the fee on the total amount including taxes and shipping. I really don't understand the rationale for that, but I guess they can do what they want.
Some sellers with fixed price items used to sell them for $1 BIN and add $19 in shipping. Buyer didn’t care, they got a $20 item for $20.

eBay got screwed on the commission and didn’t like it.
gatorcpa
 
dsio
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gatorcpa gatorcpa
Some sellers with fixed price items used to sell them for $1 BIN and add $19 in shipping. Buyer didn’t care, they got a $20 item for $20.

eBay got screwed on the commission and didn’t like it.
gatorcpa
I’ve found the thing where sellers try to offer you a discount if you pay via paypal or bank deposit directly and let them cancel the auction had been becoming more common also so I’m sure they’ll be taking steps to crack down on that too.
 
Dan S
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kaplan kaplan
Most of the Vintage Omega's are sub $1000 tho, as a concrete example, $169 becomes $132 net - so it's actually 22%. - I think Payoneer reduced their hidden fx fees - I remember them being MUCH higher

As a counterpoint, for me, in the US, the eBay fee is all inclusive with their managed payment system. As a specific real-life example, the last time I sold a vintage Omega, the final sale amount was about $6k, and the total seller fees were about $450. With the new increase, it would be about $475. In the past, the combined 10% eBay and 3% PP would have been about $750.

So if you are selling a $500 watch, your fees will go up by 2.6%, or $13. Big deal. If you are selling higher value watches, you will see substantial savings, often of hundreds of dollars. Personally, I will take the new fee structure.
Edited:
 
boraxman
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I sell on Ebay as a last resort. I don't care for their fees/
 
apsm100
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Yeah I've been considering chrono24 too. eBay is last ditch, 50% loss type stuff. 😎
 
gatorcpa
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pIoNeErOfThEnILe pIoNeErOfThEnILe
right now and until the end of the year almost every state allows for 200 transactions/$20000.oo..but come jan1 it drops to $600.oo and any amount over that will need to be reported and filed. both ebay and/or paypal will send you a 1099 so it will be unavoidable if using their services.
You are confusing federal and state tax laws. Many states are dropping their “safe harbor” amounts that you are allowed to sell before having to charge sales tax to your customers (not pay it yourself). Some of these states are run by Democratic legislatures and others by Republicans, but those minimums have been dropping all over the country.

The other rule you are citing has to do with federal reporting requirements for the gross receipts of sellers on Form 1099-K for income taxes. I believe that that law dropping the reporting requirement to $600 was passed a couple of years ago under a Republican administration and takes effect in 2021 or 2022. I can’t remember when, as I do not practice in this area.

Anyway, if you are selling watches, you should be reporting the sales on state and federal income tax returns. The only thing that is changing is Big Brother’s ability to check up on you, and he is not beholden to any political party.

I’m going to leave your misinformed post alone for the time being, but if this thread starts deteriorating, I will delete it along with this post.
gatorcpa
 
pIoNeErOfThEnILe
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gatorcpa gatorcpa
You are confusing federal and state tax laws. Many states are dropping their “safe harbor” amounts that you are allowed to sell before having to charge sales tax to your customers (not pay it yourself). Some of these states are run by Democratic legislatures and others by Republicans, but those minimums have been dropping all over the country.

The other rule you are citing has to do with federal reporting requirements for the gross receipts of sellers on Form 1099-K for income taxes. I believe that that law dropping the reporting requirement to $600 was passed a couple of years ago under a Republican administration and takes effect in 2021 or 2022. I can’t remember when, as I do not practice in this area.

Anyway, if you are selling watches, you should be reporting the sales on state and federal income tax returns. The only thing that is changing is Big Brother’s ability to check up on you, and he is not beholden to any political party.

I’m going to leave your misinformed post alone for the time being, but if this thread starts deteriorating, I will delete it along with this post.
gatorcpa

i deleted it for you so you don't have to worry about it anymore.

i'm sure that 10' s of thousands of people selling discarded or junk items with no idea what it was paid for, let alone operating as a real business are going to love the new laws and it won't effect them or any chain at all
 
spe777
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Sorry to revive an old thread, but I just got hit with the 15% fee + 6.5% over $1000 for the first time yesterday and, wow, that just seems really excessive. Where is the extra money going? As far as I can tell, it's all to Ebay's marketing for luxury watches. (Seems like they now having someone running an instagram account just for this.) They're really going to push out a lot of folks who by instituting such high fees. Doesn't seem like it's the smartest long-term plan. What am I missing?
 
140dave
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spe777 spe777
What am I missing?

Ummmm... reach? You can sell here, for free, and reach around 2000 potential buyers, OR you can pay the fees and reach 185 Million shoppers on ebay. Its sorta like the old SNL phone company spoofs:
 
kaplan
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For regular $200-$1200 watches, eBay should be avoided sadly, this saddens me both as a buyer and as a seller

I sold a rare watch for $975 - It was listed for $1300 but I decided to accept an offer - I was expecting to get $800+ - but net amount is close to $750 - with the hidden Payoneer fees - it really doesn't make sense if you are selling internationally, you pay 15% - 20% VAT for the fees they take from you LOL - 1% international fee and ultimately it's all fees

But obviously for me it's a fool me once fool me twice situation, I just need to remember that the net fee is 20%+

As a buyer, I know that each decent/real seller will sell only 1 watch - and after seeing the fees they'll just keep their watches - so it's much more saddening, as my ultimate aim is to extend my collection

Their reach is also funky, not everyone sees everything, there's hidden search limitations - they have one thing going on for them tho, it's really easy to list something, Chrono24/Reddit is tedious with their extra shot requirements etc. - most days I'm just too lazy and too busy for those extra requirements as a hobbyist

TL;DR: It would be nice if it was just all inclusive 15% - but there's still so many other fees for international buyers
 
T
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Is eBay a good place to sell parts? I have some oem omega bracelets and leather bands I want to sell.
 
Bizcut1
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Left them behind a long time ago...approaching a 20% haircut now with PP fees piled on.
 
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