EBay selling advice

Daisypod

Hi.
I’ve recently dug out some (a lot) of old band t shirts I had in the loft from the 90’s after listing a few it’s become apparent they are worth quite a lot now which is good as we could really do with the money!
the thing is I’ve only sold much cheaper things before and I’m worried about being scammed.
Apart from making sure I post signed for delivery what else can I do to make sure I don’t get scammed? A few of them look like they will sell for between £500-£1000!
I believe that I shouldn’t have to declare any of the money to Hmrc as I’m selling personal items? Am I likely to be chased about it though?
There’s probably over 100 to sell and part of me is getting excited at the thought of being able to pay off our credit cards but also massively anxious it’s all going to go wrong!

RFW

Daisypod said:

Hi.
I’ve recently dug out some (a lot) of old band t shirts I had in the loft from the 90’s after listing a few it’s become apparent they are worth quite a lot now which is good as we could really do with the money!
the thing is I’ve only sold much cheaper things before and I’m worried about being scammed.
Apart from making sure I post signed for delivery what else can I do to make sure I don’t get scammed? A few of them look like they will sell for between £500-£1000!
I believe that I shouldn’t have to declare any of the money to Hmrc as I’m selling personal items? Am I likely to be chased about it though?
There’s probably over 100 to sell and part of me is getting excited at the thought of being able to pay off our credit cards but also massively anxious it’s all going to go wrong!

Insurance and good packaging works. If you're getting £1000 you may want to look at a courier for delivery although Royal Mail will have some cover. Just signed for wouldn't be that adequate if you don't declare the value. If you're getting £1000 for a tshirt you can probably afford to pay £10 plus for shipping.

HMRC allows you to sell personal items without any tax requirements. They have said they wouldn't be chasing anyone or doing anything different. Now I doubt all your tshirts are worth £1000 but if you do end up taking £100k you may set a few alarm bells off. You also want to look at capital gains tax, but I'm no expert on that and I don't think it will be something you need to worry about, but do check it out.

On-the-coast

With that many items… and the potential value, and the certainty that some of your eBay buyers will be problematic  - have you considered a bulk sell to a specialist retailer?

noitsnotme

Don’t used Signed For, it’s outdated and a waste of money.  If you’re selling items between £500 and £1000, use Royal Mail Special Delivery (although check the prohibited items list).  It includes insurance up to £750 as standard which can be increased to £2500 if required.  It’s a more expensive service but it is tracked multiple times through its journey.  It’s far safer for expensive items.

For lower value items use RM Tracked rather than Signed For.  Tracked includes compensation up to £150.

zackary71

Few tips I'd offer are...
1) Buy a Torso bust to use when photographing the T Shirts. There's ones with flat bases. I sold some rare prototype designer T shirts years ago, and the outlay is worth the extra you'll generate in sales.

2) Take lots of good photographs and highlight any flaws such as colour fade, clicks etc

3) Use an Auction listing, preferably a 10 day one starting on a Thursday evening, so it ends on a Sunday night.

4) Cram in as many 'hot' words in the 80 character listing title as you can. Band name obviously, 'vintage', '1980s', 'XYZ Tour'. 

5) If you're going to entertain Offers, do your research to see what they've actually Sold for, as opposed to List price. There can be a big difference.

Good luck.

noitsnotme

zackary71 said:

5) If you're going to entertain Offers, do your research to see what they've actually Sold for, as opposed to List price. There can be a big difference.

Off the back of this thread I looked up on eBay some of the band shirts I have.  There is a listing for one at £400 but the highest actual sold price is £50 😆

soolin

A lot of very good advice has been given, the bit about researching for sold prices rather than listed prices is a good place to start. I had a band t shirt, not a well known one so my expectations weren't high, but I did have a bit of a jolt to see two others listed in excess of £500. My hopes of a nice weekend break were dashed when I checked solds to see that the last one that actually sold made £14.

Postage though is the thing, make sure you cover yourself, and if you are planning to use international postage rather than GSP research that and the duty and customs forms you will need as well.