The painful reality of eBay watch sales

shishy · Dec 1, 2021

Meh, tracking can show receipt even if the buyer didn't actually receive. Especially if it was during COVID when the signature req. was tossed out even if paid for, and delivery folks were just throwing packages on my porch and signing on behalf of the recipient (nightmare).

The Authentication program is too stressful for me to ever want to buy on eBay. I hope sellers will realize this and use other watch sites like C24, forums, and whatnot.

Alman28 · Dec 1, 2021

What makes the ebay process too stressful? Is it a bunch of hoops to jump through? It looks super easy, at least from the buyers perspective, but I have never experienced it first hand.

gbesq · Dec 1, 2021

I’ve sold a few watches on eBay and lost money on all of them largely due to fees. I like eBay when I’m buying, but prefer Chrono24 when I’m selling.

Wryfox · Dec 1, 2021

Alman28
What makes the ebay process too stressful? Is it a bunch of hoops to jump through? It looks super easy, at least from the buyers perspective, but I have never experienced it first hand.

Its actually super easy on both sides. Easy to list for seller, easy to buy for buyer. Easier than ever, actually.

I've been on eBay for 24years and this new fee structure is the most surprising thing I've seen in all that time, which is why I posted it for all to see what was happening.

Despite what people say about ebay favoring the buyer, I've never lost a fair argument with eBay as a seller. A key part of this is making sure your listing includes all info it should, including all disclosures that pics can't show. Cover your butt, people!

Tony C. · Dec 1, 2021

Wryfox
Despite what people say about ebay favoring the buyer, I've never lost a fair argument with eBay as a seller.

I could tell you a story...

Pierre1333 · Dec 1, 2021

eBay is like the flea market of the world. And unfortunately real flea markets across Europe have become for tourists. And eBay being cracked down upon doesn't surprise me. But as a buyer I have to admit I'm addicted to eBay

Wryfox · Dec 1, 2021

kev1976t
Also now you have to wait a few days for the money to go straight into your account, before you feel safe to post your item.

So here's something I've found to be interesting, as I have sold more on eBay under the new payment system...all sales so far error free and smooth, I have noticed that the payment system has sped up dramatically. It started out at 5 days which was shocking, but now it is next day.

Makes me wonder if they aren't using the payment system as a reward/penalty for good/bad behavior.

shishy · Dec 1, 2021

Alman28
What makes the ebay process too stressful? Is it a bunch of hoops to jump through? It looks super easy, at least from the buyers perspective, but I have never experienced it first hand.

The fact that they send any watch over $2K to a third party authenticator who opens it to "inspect", and in some instances has labeled the watch as "good", making it impossible to return as a buyer, but in the process of evaluating, actually broke the watch or damaged something. I now know 2 people who have been burned by this, and ended up footing the repair bill which could have been avoided.

I don't trust random third parties to handle high value watches like this. I'd rather buy from people I trust and if I have doubts, make it contingent on having a third party we both trust deal with it. That the buyer has little or no remediation if the third party messes something up is incredibly frustrating.

Apparently you can contact the third party company and ask them not to do stuff and pray that they won't, but that 1) seems to defeat the purpose and 2) is just unnecessary delays + stress.

I understand why eBay has this policy but to me as an individual, it's a complete deal breaker.

JessyWebster · Dec 1, 2021

I haven't been able to stomach selling on eBay for several years... between the eBay fees and the PayPal fees it's hard to justify (for me at least).

tyrantlizardrex · Dec 1, 2021

Wryfox
So here's something I've found to be interesting, as I have sold more on eBay under the new payment system...all sales so far error free and smooth, I have noticed that the payment system has sped up dramatically. It started out at 5 days which was shocking, but now it is next day.

Makes me wonder if they aren't using the payment system as a reward/penalty for good/bad behavior.

I noticed this too - went from 5-7 days, down to under 24 hours this week...

140dave · Dec 1, 2021

Wryfox
So here's something I've found to be interesting, as I have sold more on eBay under the new payment system...all sales so far error free and smooth, I have noticed that the payment system has sped up dramatically. It started out at 5 days which was shocking, but now it is next day.

Makes me wonder if they aren't using the payment system as a reward/penalty for good/bad behavior.

Same, now I get my $$$ almost immediately after the package gets scanned in by USPS. If it on the way I get my pay…

gatorcpa · Dec 1, 2021

JwRosenthal
I’ve actually started considering this before I throw a low ball offer out to a seller- they are getting screwed by 25%, then have to pay income tax on it.

Not sure what you mean here…

Although eBay may report sales prices to IRS on a gross basis, a seller should be able to deduct postage, eBay fees and the cost of the watch against that gross sales price. They would then pay federal income tax of 28% (plus state income tax, if applicable) on the net profit.

At least that’s how it works in the USA.
gatorcpa

JwRosenthal · Dec 1, 2021

gatorcpa
Not sure what you mean here…

Although eBay may report sales prices to IRS on a gross basis, a seller should be able to deduct postage, eBay fees and the cost of the watch against that gross sales price. They would then pay federal income tax of 28% (plus state income tax, if applicable) on the net profit.

At least that’s how it works in the USA.
gatorcpa

If a seller is offering a watch with a BIN of $100 or make offer, and I offer $60 this guy is going to walk with around $40 by the time he is done (I suck at match, I admit-but you get the idea). When you think of it that way, it’s actually a $40 offer which is just an insult at that point.
I try to be mindful of the hidden costs that a seller is going to have to absorb selling on eBay, not just - how low will they go.

mario_8778 · Dec 1, 2021

The fees on Ebay are ridiculously high,especially after PayPal!
Chrono 24 is getting just 6.5% when you sell the watch and they give you three months time to pay that amount
after you sold a watch on their site.
They are very cool!

rand8086 · Dec 1, 2021

I stopped all selling on ebay when they went to their new system that now requires your bank account information directly.

Waltesefalcon · Dec 1, 2021

I use a spare checking account for all of my internet banking, so Ebay wanting my banking information didn't hurt my feelings.

Deafboy · Dec 1, 2021

NoName
The fees on Ebay are ridiculously high,especially after PayPal!

Most auction houses charge higher fees than this. Christies charges 25% buyer's premium.+ taxes and a "secret" seller's comission.

Dash1 · Dec 2, 2021

I’ve just been shafted by eBay this very day, albeit as a buyer, not seller. I bought and paid for an item through eBay, the seller is in Australia so the purchase was shown in AU $ as well as the estimated amount I would pay in GBP, which amounted to approx £1300. To cut the story short, the seller and I agreed to cancel the sale shortly afterward and a refund was made by eBay onto my credit card, but the amount refunded differs by nearly £60 due to exchange rate differences from when I bought to when I was refunded! This never happened when using PayPal, if you cancelled a sale or made a return, you would be refunded exactly what you paid. eBay are washing their hands of it.

JwRosenthal · Dec 2, 2021

Dash1
I’ve just been shafted by eBay this very day, albeit as a buyer, not seller. I bought and paid for an item through eBay, the seller is in Australia so the purchase was shown in AU $ as well as the estimated amount I would pay in GBP, which amounted to approx £1300. To cut the story short, the seller and I agreed to cancel the sale shortly afterward and a refund was made by eBay onto my credit card, but the amount refunded differs by nearly £60 due to exchange rate differences from when I bought to when I was refunded! This never happened when using PayPal, if you cancelled a sale or made a return, you would be refunded exactly what you paid. eBay are washing their hands of it.

Yup! The break with PayPal has screwed everything up in that respect. Do you have your account linked to a credit card? You could dispute the charge with your card company.

ApolloXVII · Dec 3, 2021

I am so sorry that do not exist a true competition for eBay market..I still use eBay to sell but with the new eBay manage payments it's very difficult with the fees..i have to main problems..I sell on eBay.co.uk and sell in GBP which are automatically converted to Euro to an outrageous conversion and before eBay Manages payments, business seller with an shop they had cap fee on watch category for about 50 GBP so it make worth to sell a 2000 GBP watch or higher because the maximum fees was 50 GBP and the percent of sale was lower..Now the also remove that feature..a nightmare for me..
So if i sell a watch i pay more than 20% to eBay...outrageous.