Holy crap PayPal fees have gotten bad!

Discussion in 'Off Topic [BG]' started by jmattbassplaya, May 29, 2012.

  1. jmattbassplaya


    Jan 13, 2008
    I just received payment for a bass I'm selling and WOW - I wasn't expecting to come up as short of I did after PayPal took their cut! I now know why so many people keep asking for payment via the gift method because this **** is cray.
  2. You don't get to complain until you've sold something on eBay and been charged eBay AND Paypal fees.
  3. jmattbassplaya


    Jan 13, 2008
    Do I even want to know? :bag::bag::bag:
  4. yup.

    and now for gift option they charge the buyer $5 or something like that.

    i've always hated paypal. ebay too. i avoid at all costs.
  5. jmattbassplaya


    Jan 13, 2008
    I'm happy that I've basically sold off everything I've been wanting to sell off. I would being crying right now if I still had the other 30 odd basses that I used to own and were planning to sell them off :bawl:
  6. Let me guess they dinged you around 40$?

    Ebay is paypal fees of about 3% , ebay fees of 10% of final value , insertion fees etc. Your basically taking 15% off if you sell on ebay. I have never sold a bass on ebay , but I sold a badass bridge there , thank god for the TB classifieds it and craigslist is the only place i list gear.
  7. jmattbassplaya


    Jan 13, 2008
    Pretty much. It just took me by surprise. I've sold quite a lot here in the past and have never took a hit that hard.

    To be fair though, I had the bass listed for a few weeks on CL and got only two offers on it (both low balls). I posted the bass here and in less that 3 hours the thing was sold for the price I wanted.
  8. Yeah its a pretty heavy fee when you sell a bass and it really sucks when you sell a bass around a grand because after paypal fees and shipping there goes almost 100 bucks.

    Craigslist is ridiculous. I always post here first and if I am really trying to move it after 2 weeks I post it on craigs, a few times basses that wouldnt move here sold on craigs but the amount of flakes you have to weed through is time consuming.

    I actually pay members with gift emthod if they have good feedback as I feel bad dinging a seller , i just paid 500$ for a bass on here via gift method and the seller didnt ask me I just did it.
  9. fourstringdrums

    fourstringdrums Decidedly Indecisive Supporting Member

    Oct 20, 2002
    I figure I'm probably better off if I can't sell it myself locally to sell consignment through a music store because then I won't have to deal with the hassle of paypal holding my money, having to ship on my own dime and possibly deal with an unethical buyer even if it costs slightly more.
  10. Check out www.xe.com fellas. They put you through ten degrees of ID checking to get an account as a buyer, a bit of a pain but then they send a bank check to seller payable on his own name, in his own currency if you happen to be international.

    Very reasonable fees and in the unlikely event of fraud there's a paper trail. Cops can deal with paper trails real easy.
  11. Bassamatic

    Bassamatic keepin' the beat since the 60's

    You can pretty much count on giving 15% to evilBay and their PayPal. (Not YOUR pal for sure). That and the poor treatment of sellers.

    WHERE ARE YOU Amazon and Google? We need to get rid of the evilBay.

    I would rather wait weeks for something to sell on CL instead of giving it away to eBay.
  12. Musiclogic

    Musiclogic Commercial User

    Aug 6, 2005
    Southwest Michigan
    Owner/Builder: HJC Customs USA, The Cool Lute, C G O
    here is a little heads up for you. Paypal fee is 2.9%,(a little less for merchants/business users), for many business owners it's handy and less expensive than having a credit card machine on location, which is usually a per swipe fee, plus 3+%, plus a bank fee if bought or leased through a financial institution. Paypal for non business entities(private sales) is a convenience that regular people could not have 10 years ago. The percentage has always been close to 3%, and has really not changed since Paypal was introduced. So for non business, it may be annoying, but for many businesses, it's a great convenience that cost us less than taking credit cards directly. Just my POV, being a Paypal user since it's inception.
  13. Meh, 15% isn't much, not when you look at how much physical auction houses take in thier cut! eBay serves a larger audience than pretty much anything else out there at the moment, so you have a higher chance of actually selling what you want to sell. Obviously, some things will sell well, even locally, but it depends on what you are wanting to sell.
  14. Relic

    Relic Cow are you?

    Sep 12, 2006
    Robbinsville, NJ
    AMEN. Then you also have to operate with the risk of knowing that your buyer can walk all over you and win almost every time if there's ever a dispute. Even if it's a false one

    Ask me how I know...?:crying:
  15. ING Direct (now part of Capital One) has a feature on their checking account called P2P, where you can do a ACH transfer to any party, PayPal-like, but no fees. I understand Capital One checking customers can use it too. An email is sent to the recipient with instructions for receiving the transfer. Takes 2 business days for non-ING accounts, and is instant if both parties have ING accounts.
  16. Relic

    Relic Cow are you?

    Sep 12, 2006
    Robbinsville, NJ
    You sure about that..? I've been selling and buying on eBay via paypal for a looong time. Maybe I'm just getting cynical but I swear that I remember things being a whole lot cheaper..?
  17. GregC

    GregC Questlove, Black Thought, Hamilton Gold Supporting Member

    Jan 19, 2007
    This thread's title had me wondering if Paypal fees have gone up a bunch since I last sold something a year ago. From the numbers I'm seeing, they haven't changed at all.
  18. f64


    Oct 31, 2009
    Naples, FL

    CC, thanks for the heads up!
  19. stevetx19


    Sep 28, 2006
    Denton, Texas
    unfortunately, usps money orders don't provide the same level of buyer protection and are slower= less folks are willing to use them. Fee would the cost of a stamped envelope.

    I also recommend dwolla - https://www.dwolla.com/
    similar to paypal but its an app that both parties need to have. All transactions under $10 have no fee, all transactions over $10 have a 25 cent fee. not a bad deal at all.
  20. HeyyyyyJoe

    HeyyyyyJoe Yahtzeeee Supporting Member

    Nov 13, 2007
    Brooklyn, NY
    100% correct. Someone needs to create an alternative because getting hit with ebay fees AND paypal fees is insane. You can't breakeven or even come close sometimes.
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