my MAD e-bay challenge

NewbieMoneySaver**

Thanks for the quick reply.

I have listed a few items and we will se how they go.

I have made £15 already from two days ago. Not long now and I should be £30,000 better off. lol

Cheers

Skippy2roo

Snaggles wrote: »

Good luck with it - if you are a member of Freecycle, people sometimes advertise car boot/ebay lots, so it might be worth a look when you start to run out of things.

Wouldn't this then be entering the realms of operating a business therefore tax etc ?

Seaxwyn

Hi MinniMe - I've had this before and I've always replied that I want to let the auction run its course. It's probably a sign that your item is quite desirable, and you will end up selling it for more than they are offering anyway.

I've got a tatty old Ordnance Survey map listed, and it currently has bids up to £7.28. I'm amazed!

Seaxwyn

Skippy2roo wrote: »

Wouldn't this then be entering the realms of operating a business therefore tax etc ?

Yes you would. If you buy items from carboot sales to sell, or accept stuff from freecycle, you are obliged to declare the income and pay tax on it.

You are allowed to sell your own stuff, up to a maximum of £5,000 in a year, without paying tax.

The Inland Revenue are currently investigating ebay sellers so it would be really unwise to buy stuff to sell without looking into the implications throughly.

NewbieMoneySaver**

The problem with that though is that they cant really prove that the item was not for that person in the first place.

Or am I missing something.

MinniMe_2

Seaxwyn wrote: »

Hi MinniMe - I've had this before and I've always replied that I want to let the auction run its course. It's probably a sign that your item is quite desirable, and you will end up selling it for more than they are offering anyway.

I've got a tatty old Ordnance Survey map listed, and it currently has bids up to £7.28. I'm amazed!

Many thanks Seaxwyn, I'll hold out and see what happens, I just wasn't sure if they were allowed to do this!

carriel_2

I would love to join in this, if you'll have me.

Money is getting unbelievably tight & we have been left with Mortgage arrears (£566 left) & CCJ (1391 left) following my husbands redundancy last year, we are slowly paying it back, but i'd love to be able to clear it.

I feel abit useless as I cant earn money as i'm at home with my little 4mth old, so am going to go Ebay mad & list everything thats not nailed down lol.

My aim will be £2000. I do have a couple of more expensive items to sell, my car ( I really dont want to, but have no choice) & a mobility scooter which i'm hoping will get a grand between the two.

Baby is asleep so i'm off to start putting an ebay box together.

Where do you get your packaging from? I've always found that to be a major expense when ebaying in the past.

Seaxwyn

Hi carriel and good luck.

I get bubble wrap from the fruit section of the supermarket - look under the apples! Also the local newsagent/sweet shop has kindly given me boxes in the past - chocolate bars come delivered in small boxes which are very useful. And I got a load of used padded envelopes from someone on Freecycle.

faye1978

Oh YEah! Can I join please? I have about £7k to clear too and want to do it in a year. Will sub to this thread so I can come back and read it later. Am really inspired by the 'what you can sell on EBay' thread that I think anything is possible on there. :A

What a great idea. Put me down for £600 to start please!

RosaThorne

carriel wrote: »

I would love to join in this, if you'll have me.

Money is getting unbelievably tight & we have been left with Mortgage arrears (£566 left) & CCJ (1391 left) following my husbands redundancy last year, we are slowly paying it back, but i'd love to be able to clear it.

I feel abit useless as I cant earn money as i'm at home with my little 4mth old, so am going to go Ebay mad & list everything thats not nailed down lol.

My aim will be £2000. I do have a couple of more expensive items to sell, my car ( I really dont want to, but have no choice) & a mobility scooter which i'm hoping will get a grand between the two.

Baby is asleep so i'm off to start putting an ebay box together.

Where do you get your packaging from? I've always found that to be a major expense when ebaying in the past.

If you have trouble getting free boxes from supermarkets etc (I've been turned away being told they have to crush all boxes!), try a stationers - I used to buy Jiffy Bags wholesale from a business catalogue... I'm not a business but as I was buying so much they didn't ask!