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Old 05-10-2012, 08:16 PM   #11
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Re: does anyone have a sucessful Ebay store?

I used to have one, but it just got tiring. I'd gross about $1000 a month. Ebay and Paypal fees were around 15% and Income Tax was another 30%. It shrinks quickly . Make sure you understand how much you need to sell something for to actually make money. Buy it for $2 and sell it for $10 - great, right? Well, lose $1.50 to fees and then another $2.50 in April for taxes and you drop from $8 profit to $4.

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Old 05-10-2012, 10:40 PM   #12
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I used to have one, but it just got tiring. I'd gross about $1000 a month. Ebay and Paypal fees were around 15% and Income Tax was another 30%. It shrinks quickly . Make sure you understand how much you need to sell something for to actually make money. Buy it for $2 and sell it for $10 - great, right? Well, lose $1.50 to fees and then another $2.50 in April for taxes and you drop from $8 profit to $4.
At what point do you have to pay income tax on ebay sales? Or should I be even if I made $30 a month? Or is it only if you have n ebay store?
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Old 05-10-2012, 10:50 PM   #13
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Re: does anyone have a sucessful Ebay store?

I have an ebay store. I buy polymailers in bulk for very cheap (as in 1000 or more at a time). I sell clothes, shoes, purses, really anything I can turn a profit on. I do mostly buy it now's with best offer, and I price my items higher than I want because people love best offers lol. I run sales twice a week as well (again, since my items are priced higher than I want this doesn't hurt my profit margin). I of course make mistakes, but not usually I include a magnet with my store info and a slip of paper that says: "Thank you for purchasing from Brady Bunch Pickers! We pride ourselves in 100% positive feedback. If you are not 100% satisfied with your purchase, please contact us before leaving feedback so we can have the chance to provide you with excellent service. Thank you!"

I invested in a laser printer, which was like the best thing I've ever done lol. My ink/toner price went down considerably. I do pay for an actual store, but it pays for itself every single month. Since my listings are almost all BIN, I save .30 cents a listing by having a store. EBay will also run promotions for stores only, where they give you free BIN listings or free auction listings for a certain time period. For example, they are doing the free auction listings now, so instead of a BIN I priced the items in auction format at the lowest I'm willing to take (so could be 1.99, could be 14.99, etc) and let them run. I won't lose any money if it doesn't sell, because its free right now, but if it does, great. When this promotion is over I will go back to my normal routine.

I also am a top rated power seller which gets 20% off final value fees, and they currently just ran a promotion where if you had your settings to a 14 day return policy and 1 day shipping and handling, you got an extra 15% off FV fees on top of that.

Ebay is changing the rules come next month and to keep a top rated staus you must offer a return policy, but I have had the return policy for months in anticipation, and I've only had ONE person actually return something. So even though the return policy sounds scary, it's not.

I am totally NOT a photographer, so my goal for the summer is to get a new camera and learn how to take better pics. I have a really, really hard time taking pics of light pink, blues, and blacks. I can never get the colors right with those in pics and it'll make things look faded and makes me mad!

I am doing very well with my little business. Dh helps too and he does a lot of the packing and shipping. I do all the shopping and listing. I ship things same day as payment, and people always comment about the great fast shipping.

HTH some, feel free to ask me any questions.
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Old 05-11-2012, 04:48 AM   #14
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Re: does anyone have a sucessful Ebay store?

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At what point do you have to pay income tax on ebay sales? Or should I be even if I made $30 a month? Or is it only if you have n ebay store?
If you buy something and sell it for profit, you need to claim it on your taxes. There isn't a minimum level. It might work that you don't owe more in taxes because of it, but you do need to include it. It's self-employment income, so you pay into social security at 15% or so as well. You can keep track of mileage, shipping supplies, etc to take as deductions. It's really kind of a pain!

ETA: There is a minimum to sell for ebay/paypal to issue a 1099. But, if you don't get one, that doesn't mean you don't file taxes. I am sure a lot of people do not claim the money on taxes, but that is tax fraud.
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Old 05-12-2012, 08:50 AM   #15
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If you buy something and sell it for profit, you need to claim it on your taxes. There isn't a minimum level. It might work that you don't owe more in taxes because of it, but you do need to include it. It's self-employment income, so you pay into social security at 15% or so as well. You can keep track of mileage, shipping supplies, etc to take as deductions. It's really kind of a pain!

ETA: There is a minimum to sell for ebay/paypal to issue a 1099. But, if you don't get one, that doesn't mean you don't file taxes. I am sure a lot of people do not claim the money on taxes, but that is tax fraud.
Well that's good to know, I've sold here and there for more while but this last couple of months more regularly, so thank you!
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Old 05-12-2012, 09:43 AM   #16
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Re: does anyone have a sucessful Ebay store?

The "minimum" for a 1099 is $600, but as PP said are still supposed to claim it on your taxes.
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Old 05-12-2012, 10:40 AM   #17
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This is interesting to me.. DF and I talked about doing this.. Question is.. So how do you keep inventory and stuff to sell outside of yard sale time of year? Store clearances and such? What sells really well online? Kid clothes? Household goodies?
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Old 05-12-2012, 12:52 PM   #18
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This is interesting to me.. DF and I talked about doing this.. Question is.. So how do you keep inventory and stuff to sell outside of yard sale time of year? Store clearances and such? What sells really well online? Kid clothes? Household goodies?
I do good with kids shoes and gap and gymbo clothes. I know 5princessmommy said she resells Victorias secret items. I've found several nwt Victorias secret bras at our thrift store and sold them.
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Old 05-12-2012, 01:05 PM   #19
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Re: does anyone have a sucessful Ebay store?

I have luck with Gymboree, Justice, Janie and Jack, Baby Lulu, Oilily. I also have great luck with Crocs of any kind as well as Keen shoes. And yes, VS items. VS is currently my top seller (another great thing about having a store is you can view so many different things like which items have been viewed the most, what sells the best, even what time of the day, or day of the week gets the most sales. Oh, also SKechers shoes, kids and adult.

As far as non yard sale season..well, we don't really have a non yard sale season here. Since I've lived here there's been yard sales every single weekend Fri-Sun, and I've lived here a year. Also, thrift stores can be your friend (and the great thing about thrift stores is you get a receipt). I find thrift stores don't know about brands such as Baby Lulu or Oilily or Janie and Jack, so they don't hike up the prices on those like they do Gymboree.

Only problem is, because I am out shopping so much, I find a lot for my girls too. Hehe
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Old 05-12-2012, 01:11 PM   #20
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Re: does anyone have a sucessful Ebay store?

Just for fun, here's a pic of my ebay stuff:


I also have a huge plastic container of shipping stuff, the free stuff from the PO, plus polymailers, packing tape, paper, and bubble wrap and those styrofoam thingies.

I get my polymailers here, 1000 at a time, and use a coupon code, which brings them down to 9.5 cents a bag shipped (shipping is like $25 on these, but I included that in the price). On ebay the cheapest you can get the 9 x 12 bags is 15 cents a bag. That's a saving of 5.5 cents a bag, which over 1000 bags, is $55. Every little bit counts!

http://www.esupplystore.com/

ETA: with esupplystore.com if you buy in even larger quantities the price goes down even more.
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