Will I pay 10% or £75 final value fees?

poohbear5

Hi,

I'm presently selling a high priced piece of audio equipment (£1850) on ebay in the categories

Sound & Vision> other sound and vision
Musical instruments> Pro/audio equipment> Other pro/auido equipment

I'm selling as "buy it now" or " best offer". I was reading the final value fees and I'm not sure if I will pay 10% fees which would be £185 or a maximum of £75.

If someone pays with paypal will I then be charged for withdrawing the money from my account? I would like to calculate precisely the money I will receive after the sale.

Thank you for helping me out it is much appreciated.

soolin

poohbear5 wrote: »

Hi,

I'm presently selling a high priced piece of audio equipment (£1850) on ebay in the categories

Sound & Vision> other sound and vision
Musical instruments> Pro/audio equipment> Other pro/auido equipment

I'm selling as "buy it now" or " best offer". I was reading the final value fees and I'm not sure if I will pay 10% fees which would be £185 or a maximum of £75.

If someone pays with paypal will I then be charged for withdrawing the money from my account? I would like to calculate precisely the money I will receive after the sale.

Thank you for helping me out it is much appreciated.

assuming you are a private seller it will be :

10% of the final selling price (up to a maximum of £75)

You will also pay to receive a paypal payment, details are here:

https://www.paypal.com/uk/cgi-bin/webscr?cmd=_display-fees-outside

it is however free to withdraw the payment to your bank account

Remember adequate shipping/tracking and insurance for an item of that value. It must be tracked and a signature MUST be obtained. remember also all the usual safety issues about paypal seller protection and the address etc.

bris

You will pay the maximum £75. Accepting Paypal for that amount would be a scammers dream, don't do it.

soolin

bris wrote: »

You will pay the maximum £75. Accepting Paypal for that amount would be a scammers dream, don't do it.

This is an ebay sale though so OP must accept paypal if offered. If he refuses then he'll pay the FVFs regardless of whether sale goes ahead or not- also seriously, as a buyer would you not want protection if spending that sort of money on an item?

poohbear5

bris wrote: »

You will pay the maximum £75. Accepting Paypal for that amount would be a scammers dream, don't do it.

Hi,

As a private seller I do not appear to have a choice about choosing paypal? It appears automatically and then gives me "additional options"

Would paypal deduct 3.4% of my ebay payment?

soolin

poohbear5 wrote: »

Hi,

As a private seller I do not appear to have a choice about choosing paypal? It appears automatically and then gives me "additional options"

Would paypal deduct 3.4% of my ebay payment?

Yes, all paypal payments attract a fee. You are quite correct though that you have no option other than offer paypal and you probably have a 99.99% chance that buyer will use it. If you are a new seller or a low turnover seller then your payment will be held by paypal for up to 21 days, but you must still ship goods within 7 days to retain full seller protectioon paypal- can you afford to do that? If not, it might seriously be worth removing this item from ebay and selling it privately where you can insist on cash on collection.

Are you fmailiar with all the requirements for postage and tracking, and does your courier offer the correct insurance and guaranteed tracking and signature on this item?

poohbear5

soolin wrote: »

Yes, all paypal payments attract a fee. You are quite correct though that you have no option other than offer paypal and you probably have a 99.99% chance that buyer will use it. If you are a new seller or a low turnover seller then your payment will be held by paypal for up to 21 days, but you must still ship goods within 7 days to retain full seller protectioon paypal- can you afford to do that? If not, it might seriously be worth removing this item from ebay and selling it privately where you can insist on cash on collection.

Are you fmailiar with all the requirements for postage and tracking, and does your courier offer the correct insurance and guaranteed tracking and signature on this item?

I was thinking about sending the parcel via royal mail? Is that not a good idea? Is there any couriers you would recommend? Thanks

soolin

poohbear5 wrote: »

I was thinking about sending the parcel via royal mail? Is that not a good idea? Is there any couriers you would recommend? Thanks

I'm not sure there is a suitable RM service, you might want to ask on the courier thread- I'll find it and link it for you.

soolin

Here you are, they will need packed dimensions, weight and total insured value.

https://forums.moneysavingexpert.com/discussion/2008047

Crowqueen

For that sort of value I would use a specialist auction house or dealership. I agree, from the buyer's point of view I would only use an electronic method to pay for something like that, particularly from eBay (though highly doubtful I would trust eBay for something of that value anyway), but that is risky for a seller, particularly one inexperienced with eBay.

This is the kind of sale where I would just avoid eBay as both buyer and seller. Too much risk on both sides.

poohbear5

Crowqueen wrote: »

For that sort of value I would use a specialist auction house or dealership. I agree, from the buyer's point of view I would only use an electronic method to pay for something like that, particularly from eBay (though highly doubtful I would trust eBay for something of that value anyway), but that is risky for a seller, particularly one inexperienced with eBay.

This is the kind of sale where I would just avoid eBay as both buyer and seller. Too much risk on both sides.

I'm also trying to sell the item on a specialist website but I'm not sure how to find a specialist auction house. Before selling on ebay I approaced a number of music companies, such as DV247, to see if they wanted to buy the item from me to sell on but I had no response.