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My understanding was that Elon Musk invented it (along with others I imagine), then sold it to Ebay.
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Ebay is forcing everyone to go to managed payments Dec 31
- Thread starter alloy
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Man, I better quit spreading misinformation and stick with what I know. And I know I've never cracked an issue of Forbes in my life. I've got no business talking about businesses.
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I can see where auctions are good for the seller. I only look at the buy it now. I do wish somebody could come along and “disrupt “ eBay.
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This can serve as a base for some information, and one can always do further research.
en.wikipedia.org
I joined eBay in '98. We had a large 'pipe' onto the Net where I worked at the time and I'd bid on something in the last several seconds.
Probably earned a few expletives doing that, but I scored some neat old tooling.
I signed up for Paypal back around '04 IIRC.
PayPal - Wikipedia
I joined eBay in '98. We had a large 'pipe' onto the Net where I worked at the time and I'd bid on something in the last several seconds.
Probably earned a few expletives doing that, but I scored some neat old tooling.
I signed up for Paypal back around '04 IIRC.
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Elon Musk Invented the method of a deposit in your account to generate a secure passcode to verify users with their bank accounts..... and probably a few other parts but that is the big one he is known for....
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I can only hope everybody quits eBay. I know it won’t happen but big tech is just getting too power hungry for their own good. This is the old “too big to fail“ conundrum. They think they have the only game in town and can do what they like. If it really was all about the free market you’d think they would get that because they are taking away choice, not adding it. But as I listen to these different tech guys that bailed on FB, Google and other tech on podcasts there seems to be a detachment from overall good to just what’s good for the shareholders and that only benefits a narrow slice who doesn’t even use the tech. Except to bleed the users. No wonder everybody is nuts, ‘cause it’s not personal, it’s only business.
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I'd love to quit ebay all together, but my sales average is $2500 and up per month. Yes it's my side gig and I don't have to sell parts to survive, but it's not to have the extra money to buy parts for my nova and other things I want.
Hopefully someone will come along and give them a run for their money.
Hopefully someone will come along and give them a run for their money.
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I have a similar problem, but in the reverse direction. Sites like Amazon mostly sells commercially marketed items, and if you are looking for unusual antique items, currently eBay is the major show.
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Thanks for posting that Cooter. He did a really good job of explaining how it works but two major places where it doesn’t work and as usual eBay doesn’t seem to know either that it doesn’t work or won’t admit it. That whole “pending“ thing I’ve had with overseas payments through PayPal and it always seemed to work out. But eBay can’t explain why certain things end up there. There’s also their slice before or after taxes. It sounds like it could work out better because it seems eBay is not charging the 3% transaction fee on top of the 11% they normally get.
Looks like I could be wrong about this whole thing if it actually works. Wouldn’t be the first time.
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This sounds much like how Etsy is set up (I am a seller on there).
The money for each transaction is pending for a day, Etsy then holds available funds for up to a week and is deposited into your account on a day of your choosing. I am nearing 600 transactions, and the pending funds have reliably been one day.
I am not familiar with ebay, as I left there long ago ... but you could be forced to pay advertising fees at some point as well if they are truly chasing the Etsy model.
help.etsy.com
TL;DR - Advertising is done for you. If the buyer clicks an ad that ends in a sale you are charged 15% advertising fee. The seller can opt their store out until they sell $10k in a 12 month period, then it's mandatory for the life of your shop. Although the fee is reduced to 12% at that point.
This has driven my prices up to cover the fees. My sales HAVE been better even with what I consider ridiculously inflated prices for my items ... so I am a bit torn. It just feels dirty and I would rather not participate.
The money for each transaction is pending for a day, Etsy then holds available funds for up to a week and is deposited into your account on a day of your choosing. I am nearing 600 transactions, and the pending funds have reliably been one day.
I am not familiar with ebay, as I left there long ago ... but you could be forced to pay advertising fees at some point as well if they are truly chasing the Etsy model.
How Etsy’s Offsite Ads Work
Etsy advertises listings throughout the web, including in search engine results, social media sites and apps, Etsy Publishing Partner sites, and Google Display Network sites. . Etsy offers this ser...
TL;DR - Advertising is done for you. If the buyer clicks an ad that ends in a sale you are charged 15% advertising fee. The seller can opt their store out until they sell $10k in a 12 month period, then it's mandatory for the life of your shop. Although the fee is reduced to 12% at that point.
This has driven my prices up to cover the fees. My sales HAVE been better even with what I consider ridiculously inflated prices for my items ... so I am a bit torn. It just feels dirty and I would rather not participate.
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