Bonanza125

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2 hours ago, Tanooki said:

This weekend the neighborhood garage sale returns, I intend to flush some of the local parasites out of the woodwork doing an individual post highlighting some vintage games and toys...I bet the trolls show up an hour before start.

They always do. 

I think it's newbies getting into collecting making very poor investment decisions. Businesses are also buying out good quality deals right away. In the long run I think that's going to come back and haunt them cause there will be less people looking and more risk of things either not working or worse then they expected conditions. Then other sellers see what people are getting and drive up the prices.  I would say things will eventually settle down which they have to some degree.

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On 5/3/2021 at 4:50 PM, tidaldreams said:

In particular, how are they able to sell their games as Brand New when it is clear they are not and maintain a 100% feedback rating. I only noticed this seller when I was doing research on CIB prices and they are messing them up.

People who are spending big money can clearly see that the item they are getting isn't brand new. So the buyers are probably already aware they aren't getting a sealed game. As far as 100% feedback well they do offer 30 day return so if a buyer is not satisfied with the order they can return with no problem. If a buyer leaves negative feedback the seller could appeal it and usually Ebay just removes it. 

No I wouldn't. I would invest the money in other things. Like others have said it's overpriced anyway.

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23 hours ago, TheGreatBlackCat said:

Report these guys. 

I can't believe the eBay seller still has an account.

At this point it starts and ends with Ebay. People have reported this guy and Ebay has done nothing. We see all these China fakes on Ebay which clearly it states reproduction or works "Like New" yet Ebay hasn't removed the ads. Priority are set elsewhere. 

@arch_8ngelIf you sell things online for a profit even one thousand dollars you are still considered a business. If you buy things in bulk for your collection and want to trade stuff say game for game you got extra which are for your collection then you are a hobbyist. Once money is involved up to $600 soon you must report. If you get a form through Ebay or Paypal just fill out the needed information when your accountant sends you forms and be done with it. I have a book where I track all my sales, purchases, shipping cost, and fees. It takes long for me cause of the volume. If someone is doing very minimal then it won't take long at all. Mileage tracking is simple. Just estimate the amount of miles up and back from the post office and multiple it by the number of receipts you have. Then if you can think of any other trips you make add those as well. We are talking very minimal here. I am telling you it's no big deal.

People just need to beware when buying bulk NES lots on Ebay which have rare games in it cause with the rise in value on rare games sellers are taking advantage of it. I've bought a few lots where the main heavy hitter NES cart was fake and returned the whole lot to them and they had to pay for all shipping cost.  

1 hour ago, LeatherRebel5150 said:

Problem for me is most of the stuff I bought is going on 10yrs ago now. Theres been account changes and cash deals and who knows if I could find any records of the stuff I would want to sell. Im just going to have to move to local only. 

Does this also affect straight money transfers like through Google wallet? That might be a work around for certain transactions/people.

Here is the thing. When you start reporting income they can come back with an audit. At this point all that can be advised to you is to start saving receipts. If there is no audit then you don't have to worry about the past 10 years. It's only something if they audit you. Doing stuff locally cash only will work but keep in mind people locally are looking for bargains and want things lower than market value. Yes the IRS knows your income from Google Wallet if over a certain amount of money & transactions. That number will turn into $600 soon. 

1 hour ago, LeatherRebel5150 said:

That’s fine and all. But what do you do for stuff you have no idea what you paid for it or have any paperwork to prove what you did pay for it? You’re kinda screwed then no?

Yes you would be screwed then like what Mr. CIB said. So I would say start preparing and save receipts or have a record through your Paypal, credit card statements or other accounts you make payments. 

Just report the amount of sales you made and how much the items cost. It's not that big of a deal unless you're profiting big dollars for years and haven't been reporting or you don't file taxes at all. You can deduct Ebay/Paypal fees and shipping cost. If you don't want to bother with taxes then like what Tanooki said sell everything locally. Unfortunately the not paying tax gravy train is about to end for some.

I already got everything I want for my collection 20 years ago so I didn't have to pay the high end prices for games in my collection. 

When it comes to my personal collection I already got everything years ago. Came down to swap meets and Ebay for me. Nowadays it's different. There really isn't anymore hidden secrets cause you have more people interested in the same stuff you are looking for. The chances of finding stuff locally now has declined especially various areas. I agree with the one comment about patience. It's going to take awhile.

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5 hours ago, spacepup said:

I asked the cashier about it, and she said it is really frustrating and they were seeing that more often - people coming in to check massive amounts of items, to buy and resell.  Which is fine if they are just buying items, but she said it annoys other customers (I can verify this haha).

I don't know if this is the type of thing they encountered or not, but just something I noticed a while back and this thread reminded me of it.

Happens everywhere and people who use a phone in a store to look up prices to resell or get better deals elsewhere isn't going away. More than likely that's what this business encountered. One solution is if people who are blocking an area of a store have a employee tell them to move over to another area to look at there phone so others can look.  Nowadays it's much harder for people to find second hand stuff to profit off in stores cause those same people who own the stores know the values online and are one step ahead of resellers.  I know people who own thrift stores and when they get stuff of value they put the stuff up in there Ebay store.

I would walk right out.

I ordered a bulk lot of games that took 2 months to get to me. When I received the games I had to pay extra for postage due cause the seller shipped it media mail and not priority mail.

36 minutes ago, yZoneFox said:

I do agree that most people don't look at income from a yard / rummage sale as income they should report to the government so why they should report their online yard sales is the question that pops into mind.

A yard sale is a 1 day event looking to unload stuff at bargain prices most likely at a loss not a profit. People who sell online want market value or even more and that in turn is a business. Technically everybody on this gaming website is considered a business. 

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3 hours ago, cromag27 said:

 i have a personal account and business account. i can’t find anything in writing if sales from both are combined to determine if a 1099k  be issued. the personal account has my ssn and my business account has my ein. 

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In the Wild I got Stadium Events at Funcoland years ago for $4.99. I also remember getting 1200 NES, SNES, and Genesis games for $2500 from a store that was just looking to get rid of video games all together. Landed up being $18,000 worth of stuff. 

Ebay I got a collection of Super Nintendo games for $275 worth $3000.