EBay scrap its selling fees - on everything except for cars and motorbikes

[MikeInWimbledon]

Allegedly because they're moving fees to the buyers, in the new year. And may be taking a turn on the commissions.

eBay selling fees are scrapped to boost to reselling

The company moves to keep pace with rivals in the marketplace, saying the shift should help inspire a leap in the number of people looking to make a few quid by flogging stuff they no longer want.

news.sky.com

 

[Bobby Dazzler]

Interesting to see the largest players - like eBay - following rather than leading the market. To an oldie like me eBay feels relatively new, but it’s probably no longer the disrupter it once was and is now firmly in the camp of an established player. I wonder how and when the other dotcom generation giants will be challenged in future.

 

[MrGreedy]

This is great news, I saw it this morning.

It might mean buyers are more willing to come and collect things for cash from now on, to avoid fees now on them, which will help sellers avoids eBays enforced(?) capped postage rates on some items which mean sellers can end up with effectively zero on some cheap but bulky items (this happened to me a couple of years ago during having a clear out of chattles).

Don't forget, new sellers now, and existing sellers from Jan 2025 will have transactions over 30 or £1,700 'reported' to HMRC.
Don't worry (because I already looked this up). In Summary, you don't need to do anything if you:
- sell any personal possession (chattles) that is a wasting asset, as this is exempt from CGT and from HMRC reporting via self assessment, regardless of value.
- sell any a chattle, even if it has gained value, as long as that individual chattle sells for less than £6,000, because the CGT threshold for chattles is £6,000, and then CGT is only on the increase (gain) above that £6k.

Motor cars are not chattles, so probably part of the decision making on why they have retained fees as part of this 'no fees for personal sellers' move.

You do have to report any INCOME above £1,000 to HMRC yourself and pay the correct tax. Income is from a business, not from selling personal possessions. I have a family member who makes a bit of jam and probably sells around 100 jars to neighbours at the end of the summer. This falls below the £1k threshold and so is not reported (I bet if it went above £1k or the threshold were massively reduced, it would be a right pain, as I expect the profit on that £1k is zero or even a loss, as the jam making is more of a hobby and community engagement, and nothing to do with being a business).

So to sum up, eBay will report above the 30/£1,700 threshold, but if you are selling low value or wasting personal possessions, you don't need to do anything. This would have been useful clarity for me so I wouldn't have had to go looking for it this morning on the 'no fees' news.

 

[MikeInWimbledon]

Interesting to see the largest players - like eBay - following rather than leading the market. To an oldie like me eBay feels relatively new, but it’s probably no longer the disrupter it once was and is now firmly in the camp of an established player. I wonder how and when the other dotcom generation giants will be challenged in future.

(Pulls Techie hat on.) Three decades old but feels more like two decades within the UK. Comfortably pre-Iphone, MacBook and Ipad. Pre-Broadband for most.

Not a disruptor, nor a strong tech performer. Revenues have been static, in real terms, for the last decade.

They're trying to crush the competition from Depop and Vinted out. Fair enough.

Benevolence? No, they're still making a lot of money from "float" (ie. cash balances), postal commissions and promotion features for private sellers, and they're still charging bigger "business sellers"

Memo to self: "Must get out more."

 

[ALFAitalia]

Depop?......had to Google that one....new to me!

 

[MikeInWimbledon]

Depop?......had to Google that one....new to me!

Gen Z, darling, Gen Z

Just a tad under our demographic

 

[poormansporsche]

"Dad, can you take me to inpost please" says Daughter 2 (13 years old)

"No probs, how much have you sold that book for ?"

"£140"

"And how much did you pay for it?"

"£20"


She has sold £1900 worth of stuff on Vinted in less than 9 months, I'm in the wrong game

 

[MikeInWimbledon]

"Dad, can you take me to inpost please" says Daughter 2 (13 years old)

"No probs, how much have you sold that book for ?"

"£140"

"And how much did you pay for it?"

"£20"

She has sold £1900 worth of stuff on Vinted in less than 9 months, I'm in the wrong game

Sheesh ! What kind of book?

 

[poormansporsche]

Sheesh ! What kind of book?

"Young Adult", or YA as it's known as, big business with the teenagers nowadays and my Daughter is somewhat of an expert. We often have to stay up til midnight to get the latest limited edition so she can sell on for a profit........

 

[MikeInWimbledon]

"Young Adult", or YA as it's known as, big business with the teenagers nowadays and my Daughter is somewhat of an expert. We often have to stay up til midnight to get the latest limited edition so she can sell on for a profit........

Excellent ! At 18 I had a friend who made a substantial amount of cash trading car brochures and old car magazines, back in the day when information was difficult to get.

He went on to become a commercial bigwig in Shell Retail.

 

[KillerHERTZ]

After decades of fleecing us with both listing fees, selling fees and then on top of it all PayPal fee's (who eBay also own) its not suprising.

Facebook market place/gumtree/vinted far better and have pretty much killed eBay for most items.

 

[ALFAitalia]

Ebay have not owned PayPal since 2015... been an independent company since then.
And eBay profits/ turnover are going up... so hardly "killed".

• EBay annual revenue for 2023 was $10.112B, a 3.24% increase from 2022.

I buy from various sources bit only ever sell on eBay. My stuff sells a well as ever. Came see me changing... been with them too long. My wife tried Vinted....but the whole strange postage thing (you don't know how much you will pay until you want to buy it) puts buyers off. So as soon a eBay dropped fees on clothes a few month's back she went back to them.

 

[clk320x]

This is great news, I saw it this morning.

It might mean buyers are more willing to come and collect things for cash from now on, to avoid fees now on them, which will help sellers avoids eBays enforced(?) capped postage rates on some items which mean sellers can end up with effectively zero on some cheap but bulky items (this happened to me a couple of years ago during having a clear out of chattles).

Don't forget, new sellers now, and existing sellers from Jan 2025 will have transactions over 30 or £1,700 'reported' to HMRC.
Don't worry (because I already looked this up). In Summary, you don't need to do anything if you:
- sell any personal possession (chattles) that is a wasting asset, as this is exempt from CGT and from HMRC reporting via self assessment, regardless of value.
- sell any a chattle, even if it has gained value, as long as that individual chattle sells for less than £6,000, because the CGT threshold for chattles is £6,000, and then CGT is only on the increase (gain) above that £6k.

Motor cars are not chattles, so probably part of the decision making on why they have retained fees as part of this 'no fees for personal sellers' move.

You do have to report any INCOME above £1,000 to HMRC yourself and pay the correct tax. Income is from a business, not from selling personal possessions. I have a family member who makes a bit of jam and probably sells around 100 jars to neighbours at the end of the summer. This falls below the £1k threshold and so is not reported (I bet if it went above £1k or the threshold were massively reduced, it would be a right pain, as I expect the profit on that £1k is zero or even a loss, as the jam making is more of a hobby and community engagement, and nothing to do with being a business).

So to sum up, eBay will report above the 30/£1,700 threshold, but if you are selling low value or wasting personal possessions, you don't need to do anything. This would have been useful clarity for me so I wouldn't have had to go looking for it this morning on the 'no fees' news.

This seems like an awful lot of admin for them and must literally be millions of users selling over 30 items a year?

I wonder if this will be new transactions from Jan 25? or backdated?

 

[MikeInWimbledon]

Ebay have not owned PayPal since 2015... been an independent company since then.
And eBay profits/ turnover are going up... so hardly "killed".

• EBay annual revenue for 2023 was $10.112B, a 3.24% increase from 2022.

I buy from various sources bit only ever sell on eBay. My stuff sells a well as ever. Came see me changing... been with them too long. My wife tried Vinted....but the whole strange postage thing (you don't know how much you will pay until you want to buy it) puts buyers off. So as soon a eBay dropped fees on clothes a few month's back she went back to them.

Revenue’s not gone up over the last decade, if you allow for inflation.

As for profit, they’ve taken balances in house, and stopped paying cash away promptly, so, like insurance companies, the cream on their cake comes from investing “our” cash while holding our balances.

Agreed about loss of control over post. Might work for a frock or two but not for all domestic resale.

 

[MikeInWimbledon]

This seems like an awful lot of admin for them and must literally be millions of users selling over 30 items a year?

I wonder if this will be new transactions from Jan 25? or backdated?

New transactions immediately

 

[clk320x]

New transactions immediately

Immediately after Jan 25 for existing sellers? I wonder if that was mandated by the government or something? Interesting

 

[MikeInWimbledon]

Immediately after Jan 25 for existing sellers? I wonder if that was mandated by the government or something? Interesting

Immediate, now for selling

and from October 16th for "looking after your cash balance"

 

[poormansporsche]

@MikeInWimbledon

So we were gutted to hear of the sad passing of Dame Maggie Smith

Daughter 2 consoled herself by upping the price of one of her Professor McGonagal "Pop" figures on Vinted by 20 quid. Sold within 24 hours,

Ka-Ching.........

 

[MikeInWimbledon]

@MikeInWimbledon

So we were gutted to hear of the sad passing of Dame Maggie Smith

Daughter 2 consoled herself by upping the price of one of her Professor McGonagal "Pop" figures on Vinted by 20 quid. Sold within 24 hours,

Ka-Ching.........

Training opportunity "arbitrage."

(sourcing from one market and releasing onto another, but don't get caught holding stock)

Professor Mcgonagall Figure Pop for sale | eBay

Find great deals on eBay for Professor Mcgonagall Figure Pop. Shop with confidence.

www.ebay.co.uk

Arbitrage - Wikipedia

en.wikipedia.org

 

[poormansporsche]

Training opportunity "arbitrage."

(sourcing from one market and releasing onto another, but don't get caught holding stock)

Professor Mcgonagall Figure Pop for sale | eBay

Find great deals on eBay for Professor Mcgonagall Figure Pop. Shop with confidence.

www.ebay.co.uk

Arbitrage - Wikipedia

en.wikipedia.org

Well all I know is my dressing room/man cave/office is full up with the bloody things.

The wife sells them on eBay and Daughter 2 sells them on Vinted. I don't actually communicate with the Wife in any meaningful way but I would probably guesstimate that the Daughter probably sells 3 to every 1 that the Wife sells.........