End of an eBay Era

[Shinus73]

It’s strange how quickly things taken for granted can disappear.

I’ve been buying silver from Europe and selling it for a small but worthwhile profit on eBay for more than 10 years and never envisaged having to stop.

I’m now unable to buy from Europe at a price that makes it viable and unable to sell what I already have, thanks to eBay’s new rules relating to managed payments, which essentially means only business sellers can sell coins or bullion.

In the absence of a simple alternative, a new strategy is required. Not sure what it will be yet.

Frankly, not being able to sell on eBay is a bit of a disaster. Profits were always higher there.

 

[MancunianStacker]

What’s the managed payment but about them?

Why do they have an issue with bullion? I recently sold proof coins without issue. When did this come into effect? 😱 

[Shinus73]

It’s the new payment system, without PayPal, that all sellers will be obliged to enrol in at some stage in 2021. They’re encouraging everybody to do it now. Once enrolled, the bullion and coin categories are on the list of categories that only business sellers can use.

It also means that my other hobby of scouring the site for junk silver will end, as this is almost exclusively listed by individuals and not businesses, and presumably this supply will dry up.

It seems a very strange business decision.

[ady]

Might be wise to look at "ebay not letting bullion listing" . It's all about the banks wanting control of transaction and pressuring companies with terms and conditions.

[dwreck]

Ebay is dead. I'm done with it as well. I came here because i had no where else to turn because i don't have facebook and that seems to be the hot marketplace now.

[StackerCollector]

8 hours ago, Shinus73 said:

It’s strange how quickly things taken for granted can disappear.

I’ve been buying silver from Europe and selling it for a small but worthwhile profit on eBay for more than 10 years and never envisaged having to stop.

I’m now unable to buy from Europe at a price that makes it viable and unable to sell what I already have, thanks to eBay’s new rules relating to managed payments, which essentially means only business sellers can sell coins or bullion.

In the absence of a simple alternative, a new strategy is required. Not sure what it will be yet.

Frankly, not being able to sell on eBay is a bit of a disaster. Profits were always higher there.

 

Strange news here! Damned! I have made so many lovely bargains on Ebay in the past years.

[Paul]

it will just help build places like this bigger - FB collectors groups never existed before eBay had its death grip on everything "collectables"

But like everything that gets to big, it only looks at the bottom line profit and breaks everything that made it once great. eBay will crash and burn into the ground in the coming decade

Life will still go on and new sales channels will develop, keep the faith  

[Shinus73]

22 minutes ago, Paul said:

it will just help build places like this bigger - FB collectors groups never existed before eBay had its death grip on everything "collectables"

But like everything that gets to big, it only looks at the bottom line profit and breaks everything that made it once great. eBay will crash and burn into the ground in the coming decade

Life will still go on and new sales channels will develop, keep the faith  

You can't sell anything here at a profit.

I'm a misanthrope and love the anonymity of eBay - can't be doing with all the pal / buddy / cliquey stuff that goes with the Facebook groups, way too peopley. Hopefully an alternative to eBay will present itself.

I'm more disappointed that I will no longer be able to spend an hour every evening hunting for junk silver bargains, not fashionable collectables, because they won't be there.

[Paul]

2 minutes ago, Shinus73 said:

You can't sell anything here at a profit.

I'm a misanthrope and love the anonymity of eBay - can't be doing with all the pal / buddy / cliquey stuff that goes with the Facebook groups, way too peopley. Hopefully an alternative to eBay will present itself.

I'm more disappointed that I will no longer be able to spend an hour every evening hunting for junk silver bargains, not fashionable collectables, because they won't be there.

Create a second "greedy" alter-ego !

for here and FB

[Shinus73]

1 minute ago, Paul said:

Create a second "greedy" alter-ego !

for here and FB

Already have one on the FB groups!

I do like to partake in the fashionable collectables when the opprortunity arises (currently sat on a PF70 FR 2oz Gold Shaken Not Stirred Bond coin, waiting in vain for the silly money to reappear), there's just no guarantee that an opportunity will come, which makes it a bit dull.

[Bigmarc]

Facebook marketplace doesn't allow me to sell any coins, against t&c. A little while back eBay wouldn't let me list some old coins from Iran. There is no movement in this, it's a coin, not a very expensive one either. I think it's a start of things to come for all currencies, digital here we come...

[Martlet]

Sounds to me its time for an alternative to eBay.  There's a few pretenders out there, they dont do what eBay does well (Keep it simple!) and dont gain the network effect.  

[Bigmarc]

I still am able to put ads on gumtree and I thought eBay owned it. I wonder if it is to do with them being middle man money wise

[Jeffers46]

Maybe coin cabinet and coins of the realm can open up bullion auctions?  the flat rate of 10% for selling they offer is better than ebay

[MancunianStacker]

CoinBay 🤔 

[Shinus73]

2 minutes ago, Jeffers46 said:

Maybe coin cabinet and coins of the realm can open up bullion auctions?  the flat rate of 10% for selling they offer is better than ebay

Unfortunately, Coin Cabinet is as far removed from the spirit of early days eBay as its possible to be.

I only sell on eBay with £1 max fees, which is probably why they’re happy to lose me. 🤓

5 minutes ago, MancunianStacker said:

CoinBay 🤔 

Let me know when you’ve set it up.

[Goldmick]

The dark web 🕸

[SilverMike]

31 minutes ago, MancunianStacker said:

CoinBay 🤔 

This is what needed, has been for a while imo. Would only need to be a few % commision for the owner to make a lot of money based on the value of the sales.

[Booky586]

I'm a private seller on eBay and I'm still using PayPal, I've not been moved over to managed payments yet. Is there an option to continue using PayPal or are you forced into the managed payment system?

I wonder what the implications of using a business account would be, so we could continue selling gold and silver? Tax on profits? No more £1 max selling fees?

[terakris]

23 minutes ago, Booky586 said:

I'm a private seller on eBay and I'm still using PayPal, I've not been moved over to managed payments yet. Is there an option to continue using PayPal or are you forced into the managed payment system?

I wonder what the implications of using a business account would be, so we could continue selling gold and silver? Tax on profits? No more £1 max selling fees?

I received an email about it the other day, didnt take much notice of it TBH, but if it means we cant sell coins on there, thats a shame.

[Booky586]

47 minutes ago, terakris said:

I received an email about it the other day, didnt take much notice of it TBH, but if it means we cant sell coins on there, thats a shame.

We'll find a solution, wether it's on eBay, here or on "coinbay" 😃@MancunianStacker

[terakris]

fleabay is good i find for sets of coins, sometimes non-precious metals which on here just get lost in the sub forum of sales never to be seen again. I often buy bulk lots of coin sets for just 1 or 2 sets at a time i need, so the rest i just pass on and ebay is really good for that. Sure, some jokers on there as always but for the most part its been ok with me. 

[Fivepoundfred]

I have always found Ebay very good when i have sold, never had a problem.

Sold a surplus coin recently - advertised at 12.00, sold at 21.00, money in the bank at 21.30 and shipped next day at 09.00, no messing and with a £1 FVF.

Also always found Ebay good for selling modern collectable coins as long as the asking price was reasonable.

 

[BullionBob]

12 hours ago, Shinus73 said:

It’s strange how quickly things taken for granted can disappear.

I’ve been buying silver from Europe and selling it for a small but worthwhile profit on eBay for more than 10 years and never envisaged having to stop.

I’m now unable to buy from Europe at a price that makes it viable and unable to sell what I already have, thanks to eBay’s new rules relating to managed payments, which essentially means only business sellers can sell coins or bullion.

In the absence of a simple alternative, a new strategy is required. Not sure what it will be yet.

Frankly, not being able to sell on eBay is a bit of a disaster. Profits were always higher there.

 

Think ebay have realised many private account holders waited for £1 max selling fees, then listed vast quantities of bullion. I had to switch to an ebay business account last year and have found it to be decent. However, not having the option of regular £1 max selling fees does make a noticeable difference to margins.

[BullionBob]

2 hours ago, Booky586 said:

I'm a private seller on eBay and I'm still using PayPal, I've not been moved over to managed payments yet. Is there an option to continue using PayPal or are you forced into the managed payment system?

I wonder what the implications of using a business account would be, so we could continue selling gold and silver? Tax on profits? No more £1 max selling fees?

Implications are exactly that. I had to do this last year and have heard many stories about ebay supplying data to HMRC. Although I am in full time employment, I also had to register with HMRC as self employed and will have to file a tax return. In 9 months operating an ebay business account, I have received X 1 max £2 selling fee offer. However, i used to receive them frequently on a private account.

That said I consider myself to be a stacker rather than a business, as I can go months without attempting to sell any silver. However, I felt this was the only option available if i wanted to retain an ebay account and potential selling platform for the future.