I have been on ebay since 2000, I have 600 positive feedback.
I called them, I had 500 transactions and $15k limit per month. I told them I need more, and they reviewed my account, then changed it to 350 transactions with $25k per month.
The Official PS4 & XBOX ONE Ebay/Scalping Thread.
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I called them, I had 500 transactions and $15k limit per month. I told them I need more, and they reviewed my account, then changed it to 350 transactions with $25k per month.
ThatOneGuyWho
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Thanks for the tip! Forgot that my bank has a limit of $1000 used per day. I think it's about time I get a new bank. Any recommendations for a bank with the best features / good for deals?
Its not your bank but your card. you can try applying for different cards.
However, if you already have your pre-order placed on the card w/ 1K credit limit, do not change payment type. This may create confusion with your retailer causing them to cancel the pre-sale. I recommend you call your credit card company and request for a credit increase.
However, if you already have your pre-order placed on the card w/ 1K credit limit, do not change payment type. This may create confusion with your retailer causing them to cancel the pre-sale. I recommend you call your credit card company and request for a credit increase.
ThatOneGuyWho
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It's not a bank. Better word is institution. It's Money Network and the card was given to me when I got my first job. It's a basic debit card.
I do have 3 pre-orders on Amazon and would hate to lose any of them. I'll call and ask for an increase and hopefully I can do so. If not I'll just get 2 PS4's and cancel my Xbox One pre-order. I was never going to get an X1 but made sure to pre-order just in case.
MetalSlugger
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Anyone who thinks they can make $40k in reseller markup on eBay is a 
ing lunatic. And if you somehow pull it off...have fun with your taxes!
ing lunatic. And if you somehow pull it off...have fun with your taxes!
Yeah something that has been missed in this thread is that the IRS has started to require Paypal to register all eBay sellers to file 1099-K forms starting last year which is the equivalent of a business tax form. If you make $20,000 or are projected to make that much during the year, Paypal will release your sales info to the IRS without your consent. If you make a lot less than that you won't need to worry about it. For the average taxpayer, you will essentially have to pay 30% of your profits to the IRS or at the very least have it deducted from your usual tax return. So if you make a $100 profit, you will basically owe $30 to the IRS next year. Just keep that in mind in calculating the worth and hassle.Anyone who thinks they can make $40k in reseller markup on eBay is a
Filing the the tax forms itself is relatively painless using standard software like TurboTax. The issue is if the 30% loss is worth it or not. As a former auditor myself, I can tell you once you're caught up in reporting business income, you shouldn't be surprised if your city sends you a tax letter requiring you to file as an official business which can be about another $150 per year in registration fees. Also going forward you'll be expected to report all of your eBay profits. It looks mighty weird to reports thousands of dollars in profit in 2013 and then nothing the following year. There's always the risk you get audited at that point.
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thagoat
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If I could make 40k in one day, I'd gladly pay taxes on it!!Anyone who thinks they can make $40k in reseller markup on eBay is a
It's not even making $20,000 that will trigger the 1099-K. If you have $20,000 worth of payments come through your PayPal account (and yes that includes payments related to shipping) then your information will be released to the IRS and a 1099-K will be generated in your name.
That means if you have $20,000 worth of payments and your expenses were $18,000 you're still going to get a 1099-K generated and as far as the government is concerned it is your burden to show what was profit----if you don't they will try and tax you on all $20,000.
That means if you have $20,000 worth of payments and your expenses were $18,000 you're still going to get a 1099-K generated and as far as the government is concerned it is your burden to show what was profit----if you don't they will try and tax you on all $20,000.
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MrFocus
CAG Newbie
This is GREAT advice for those buying consoles at multiple locations. For those that have pre-orders at Target, by purchasing reservation cards, you should call and talk with the store manger and employees in electronics to make them aware of customers potentially exploiting the system and reusing cards. The best course of action is recommending they punch a hole in the card once they redeem their pre-order.
****ing lunatic? Allow me to re-introduce myself... I'm MrFocus.Anyone who thinks they can make $40k in reseller markup on eBay is a
I agree, $40k profit off 'next-gen' consoles would be a challenge on ONE eBay account. $40k divided by 4 eBay accounts will be manageable. Taxes? LOL... this isn't my first rodeo!
Excellent information for those setting up their eBay/PayPal accounts using their social security number. Anyone aiming at profits above $10,000 a year on eBay/PayPal I'd recommend setting up a corporation. America isn't a country... it's a business. GET ONE!!!
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TimboSliceGB
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mr focus needs to remember we are all a community stop being a ahole to other CAG's plz mr newbie.
Yes good point. To further touch on that subject though, I would expect Paypal to require you to provide your social security number or tax ID in the end. With PayPal analytics, I highly doubt they wouldn't place a hold on your account if you were to sell a few thousand worth of PS4's without providing a social security number. I personally think it's safe as i've mentioned I've reported my SSN already last year. But to others that are not comfortable with providing their SSN, should be aware.
They have been asking for mine for years, I never give it, because I have never gone over the threshold.
MrFocus
CAG Newbie
Your comment is part of the problem not the solution. Funny how you over looked the user that just called me a "****ing lunatic" but that's just one of many insults from your beloved "community". If you're addressing me in hopes of finding empathy I assure you that you're wasting your time.
MrFocus
CAG Newbie
Correct although you should listen to Donut2922... surrender your social security number to avoid prolonged account freezes.
MetalSlugger
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http://www.ign.com/articles/2013/09/12/playstation-4-stock-held-back-to-combat-shortages
I'll just leave this here.
Bump.
I'll just leave this here.
Bump.
MrFocus
CAG Newbie
MrFocus
CAG Newbie
LOL
Anyone who have intentions of buying the PS4 from Target should rightfully purchase the reservation card. Otherwise that particular Target will set the unreserved consoles on the shelf. That would be egregious!
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Realistically, what do you guys think will be the demand for XB1, considering gamestop and BBY has offer a second round of pre-orders.
Will it be sold out on nov 22nd? WIll there be demands on the after market?
I'm kinda sure that PS3 will be going for $800 minimum on ebay the week of release. Not entire sure about XB1.
Whats your pov.
Will it be sold out on nov 22nd? WIll there be demands on the after market?
I'm kinda sure that PS3 will be going for $800 minimum on ebay the week of release. Not entire sure about XB1.
Whats your pov.
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MrFocus
CAG Newbie
I'm doubtful. XB1 has only one thing going for it and that's the limited commemorative "Day One 2013" version.
MrFocus
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ThatOneGuyWho
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When do you guys think the best day to sell is? I couldn't find any eBay charts for the PS3 / 360 / Wii, PS2 / Xbox / Gamecube era sales during launch but I assume putting it on sale 3 days before launch and ending 5PM launch day is a good day for all of them. A one day auction starting Black Friday at 5PM - 8PM would be good too. Also anytime 2 weeks before Christmas with 1 day shipping would be great as well assuming people can't find them.
Wondering, what day are you guys listing your consoles.
Wondering, what day are you guys listing your consoles.
TimboSliceGB
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it's possible xb1 goes to close if not more then ps4 but the profit will be smaller thanks to the extra 100 dollers per system. day one stamp will help them sell decent also. this past week when gamestop open xbox one for a day of pre orders my 3 gamestops had 4 systems each for pre order and those were gone within 1 hour of open and had to turn away close to 100 people for all 3 stores (one of my good friends is manager at gamestop)
thanks to ms going 360 on almost everything bad about system other then the price people went crazy for system. im already seeing xbox one ads on tv mostly during causal stuff like network tv shows and nfl football. Where as the ps4 all the ads thye have out now just says playstation no talk about ps4.
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TimboSliceGB
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what does that have to do with anything with gamestop doing it for one day now best buy only means ms is doing anything they can to have supply for pre orders whats not to say sony is doing same thing for ps4? with ps4 pre orders ending so soon it pretty much means we will at least have some systems at stores like walmart on launch day for non preorders and no way in heck these things are not on the shelf for black friday. in all honsesty i think 700 bucks for ps4 is about the avg price you will get till launch day then it will go down. unlike ps3/360 launch when the economy was not bad like it is today and only getting worse people can't spend k's on a video game system why would they when they still have ps3/360 with games coming out for those systems.
pre orders does not = sales. i think we will see alot of these millions of ps4 pre orders become unfilled or cancelled orders same with xbox one.
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Lol at all this "I really don't think its going to be high demand like the PS3, PS2, or PS1 blah blah blah....
Its the first and probably only decent console of this gen. You have a Wii U with an old Texas Instruments calculator for a processor, not to mention no Zelda, 3D Mario, or Smash Bro's even a year after release.
Then you have the under powered over priced, greed machine, spy bot called the Xbox One.
Then you have the PS4. Aggressively priced, High Powered (Don't care about your PC, sorry), cut to the chase gaming machine. No tricks. No gimmicks. Accounting for inflation it is less expensive than the PS2 and PS3. Pre Orders are basically becoming an epidemic. Friends who still don't even know what a Wii U is are begging me to toss them a pre order. There having PS4 give aways on my local radio stations. And you better believe once the marketing campaign kicks into overdrive, thing will get worse aka better for us.
If anything, its hard to think that this launch will be anything but chaos. Because so far, every card Sony has brought to the table was an ace. its safe to say Sonys situation couldn't really be any better. MrFocus said it best. "Come to the dark side and watch your purses fill with coin!"
Its the first and probably only decent console of this gen. You have a Wii U with an old Texas Instruments calculator for a processor, not to mention no Zelda, 3D Mario, or Smash Bro's even a year after release.
Then you have the under powered over priced, greed machine, spy bot called the Xbox One.
Then you have the PS4. Aggressively priced, High Powered (Don't care about your PC, sorry), cut to the chase gaming machine. No tricks. No gimmicks. Accounting for inflation it is less expensive than the PS2 and PS3. Pre Orders are basically becoming an epidemic. Friends who still don't even know what a Wii U is are begging me to toss them a pre order. There having PS4 give aways on my local radio stations. And you better believe once the marketing campaign kicks into overdrive, thing will get worse aka better for us.
If anything, its hard to think that this launch will be anything but chaos. Because so far, every card Sony has brought to the table was an ace. its safe to say Sonys situation couldn't really be any better. MrFocus said it best. "Come to the dark side and watch your purses fill with coin!"
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On a side note. Is anyone considering abandoning Fleebay in pursuit of reselling on Craigslist, because im seriously debating it. The only real down fall I can see to Craigslist is lower profit margins. Which may be out weighed by the absence of fees, shipment charges, and issues with Paypal. As a successful ebayer over the years, my account does not have the history to warrant multiple PS4 sales without a inevitable freeze, and im talking a full 180 freeze, not a 21 day freeze. It happened to me before and I can happen again. A second freeze is all too common in the Paypal community. Perhaps i'll sell 1 or 2 on Ebay and the rest on Craigslist. (Reminisces of a time where Money Orders were an accepted method of Payment)
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- IMPORTANT -
- Please Read -
Forgot to mention. Most online Merchant account allow funds from ebay sales to be deposited directly into your bank account in just two days. Meaning, you don't even have to ship the item until you have the cash in hand. Unfortunately I have limited knowledge on ebay selling via merchant account, neither do I remember which ones it was that ebay allows. Perhaps someone can chime in? This could be a huge asset and safety net to us all.
- Please Read -
Forgot to mention. Most online Merchant account allow funds from ebay sales to be deposited directly into your bank account in just two days. Meaning, you don't even have to ship the item until you have the cash in hand. Unfortunately I have limited knowledge on ebay selling via merchant account, neither do I remember which ones it was that ebay allows. Perhaps someone can chime in? This could be a huge asset and safety net to us all.
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first_time_scalper
CAG Newbie
I think CL should be fine if you live in a major metropolis. The downsides are, of course, things like getting robbed and fake currency. Getting robbed should be mitigated by meeting in a busy location during daylight. Being in a heavily populated area helps with this of course. From what I have read, incidents involving counterfeit inside of US are very few and far between. Most counterfeiting happens outside of the US. Currency pens are not officially endorsed by the government btw. The official recommendation is to trust the built in security features like water mark etc. Also, if you have a lot of units to sell then CL might not suffice for your purpose either.
I have two preorders. I will definitely sell one. Might sell both if the prices are sky rocketing. I also live in a major city in the south-east. I have never sold anything on eBay. Don't even have an account. Hence CL is the only choice.
However, all these stories of people selling their pre-orders on eBay are making me feel like having a go at it. What do you guys think about someone opening a brand new account on eBay this month just to sell one or two PS4's?
I have two preorders. I will definitely sell one. Might sell both if the prices are sky rocketing. I also live in a major city in the south-east. I have never sold anything on eBay. Don't even have an account. Hence CL is the only choice.
However, all these stories of people selling their pre-orders on eBay are making me feel like having a go at it. What do you guys think about someone opening a brand new account on eBay this month just to sell one or two PS4's?
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TimboSliceGB
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i would never buy a system like ps4 from someone with a new account lol i don't even buy cheap electronic cords from people that don't have very high raiting. And i agree with the cl thing i would NEVER sell a thing like ps4/x1 on cl i don't care if we would meet in public place or not i just don't trust people in this day and age with that stuff.
TimboSliceGB
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might i add i talked to a fried that is manager at gamestop last night and he told me looks like gamestop might be making a rule for ps4 one per household and within the next week will be open up ps4 pre orders again either they are using those extras for that or sony is producing more systems.
It cost me $1k to get a 360 w/4 games on EBay on New Years Eve 05.
TimboSliceGB
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Apparently you like risk. You already accepted payment through PayPal outside eBay which means if that buyer files an unauthorized use chargeback you have no seller protection. So why not take more risk?
Edit: ^ That only applies on international transactions (his buyer was in the UK)
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Once the PS4 and Xbox One was announced I preordered them on Amazon. Placed the order on June 10th, the minute they were online. I actually planned on getting them both and never scalped anything before, but college happened and I really need to pass my classes this semester. Seeing as you guys are experts at this sort of thing, I have a question or two. Now that you can list preorders on eBay for sale, do you think making a listing now is the best idea, or should I wait until it gets closer to release date?
My UK order was canceled, he found it cheaper somewhere else.
If it is more risk, explain to me how, since it has 30 days to clear. Don't just say its more risk, with no explanation. I never accept checks, but this is a month out, so I see hardly any risk since the check with either clear or bounce.
TimboSliceGB
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or your bank see that it's a fake check and start thinking you are trying to cash a fake or stolen check. alot of banks in stuff like that will make the person trying ot cash the check responsible for that money.
@Ernie
Now is probably the worst time to list a ps4/xbone.
Through my intense analysis of xbox 360 and ps3 sales. I can guarantee you the best time to sell is 3 days prior to launch, launch day itself, and the next day after launch. Thats when ebay becomes a frenzy like a bunch of Lions fighting over the Gazelle, It was during this time the PS3 averaged 3x its MSRP on Ebay. After that, believe it or not, it tapers down all the way to christmas. Close to Christmas contrary to the popular belief, is a horrible time to sell. At that point you have missed the train. Its not advisable to pass on this information beyond this forum, as the belief to wait till christmas will yield us less competition and larger profits during the said frenzy. Keep this info to yourself. The more people selling on launch day, the less profit. People waiting until Christmas to unload units is a good thing for us
Now is probably the worst time to list a ps4/xbone.
Through my intense analysis of xbox 360 and ps3 sales. I can guarantee you the best time to sell is 3 days prior to launch, launch day itself, and the next day after launch. Thats when ebay becomes a frenzy like a bunch of Lions fighting over the Gazelle, It was during this time the PS3 averaged 3x its MSRP on Ebay. After that, believe it or not, it tapers down all the way to christmas. Close to Christmas contrary to the popular belief, is a horrible time to sell. At that point you have missed the train. Its not advisable to pass on this information beyond this forum, as the belief to wait till christmas will yield us less competition and larger profits during the said frenzy. Keep this info to yourself. The more people selling on launch day, the less profit. People waiting until Christmas to unload units is a good thing for us
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Great, thanks for the information and thoughtful analysis. I'll be sure to heed your advice and hold off listing them now.
bread's done