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  1. #151

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    I buy and sell on Reverb quite a bit. I've never used the Bump feature, though. The fees seem reasonable compared to the 20% local shops charge for consignment, and I don't risk the wear and tear (or breakage) from everyone that wants to try it out in that store. The upside of the shop is that you don't have to deal with shipping.

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    The Jazz Guitar Chord Dictionary
     
  3. #152

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    As usual stringswinger brings a most insightful look at the options :-)

    Regarding Reverb I may add that in order to not get caught up in the "original" asking price vs. selling price that the seller just list it at their bottom dollar. Failing that if it's not against Reverb listing policy unlist the item, and relist it at a lower price. Since there is no listing fee like Ebay has, this may be a work around.

    I'm of a mind to not sell anything anymore as buyers have become rude, and unreasonable. Many want as NEW condition stuff and expect prices I'd only give to a blood relative.

    I'll let my son deal with it all after I'm gone. He can bring it all to Sam Ash, or other LGS and take what he can get... it will be all gravy :-)

  4. #153

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    I start at higher price knowing that I will discount it in the future. In marketing items it's all about "pushing buttons". (Hammertone mentioned this to me recently.) Vendors do this all the time on a daily basis. I consider myself a straitshooter. However I apply the the sale logic to aid in a sale. Part of this logic is driven by the fees involved in a transaction.

    Of course when it comes to this forum my price is at what I paid or lower out of respect for the individuals who frequent this site.

  5. #154
    I heard that CME owned Reverb and recently sold it ???

  6. #155

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    Quote Originally Posted by vinnyv1k
    I heard that CME owned Reverb and recently sold it ???
    Not quite. The Chairman of CME was also the Chairman of Reverb. Reverb was sold to Etsy. I don’t think the deal is complete, but Etsy does plan to allow Reverb to operate independently and self-govern. If was more of a market share, diversification, and customer acquisition strategy than anything. I couldn’t imagine them trying to combine the two marketplaces.

    BTW there was a lot in the press about it. Etsy isn’t doing so hot lately. Their last earnings was a miss.

    Etsy Shares Post Steepest Drop in Four Years - WSJ

  7. #156

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    I read that Etsy bought the Reverb marketplace for $275m ?

  8. #157

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    I wonder to what degree the recent sales tax changes contributed to the decision to sell reverb?
    Pretty considerable I would guess.

  9. #158

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    They hit the seller with multiple fees. And now the buyers are hit with their home state sales tax.

    Buying on Reverb-20191202_103534-jpg

    Quote Originally Posted by wengr
    I wonder to what degree the recent sales tax changes contributed to the decision to sell reverb?
    Pretty considerable I would guess.

  10. #159

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    Re: State Sales tax

    If an individual sells an item on Reverb, is he liable for collecting the State tax and paying it to the appropriate state? Or does the Reverb system automatically generate the amount ( ' do the math' ) and then pay the tax collected directly to the individual state?

  11. #160

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    Reverb automatically deducts the tax from the sale and forwards to the state you are from.

  12. #161

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    "And now the buyers are hit with their home state sales tax."

    "Reverb automatically deducts the tax from the sale and forwards to the state you are from."

    If the buyer is paying the sales tax, shouldn't the tax be added to the purchase cost rather than deducted from the sales proceeds to the seller?

  13. #162

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    Bear in mind that the market penetration strategy of the Internet has always been to operate at a loss until a large user base has been established and then raise prices to reach profitability.

    Perhaps, as consumers, instead of griping about paying what the services/products are worth, we should be grateful for the bargains we get in the early days of an Internet marketing plan.

  14. #163

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    Quote Originally Posted by Phil59
    "And now the buyers are hit with their home state sales tax."

    "Reverb automatically deducts the tax from the sale and forwards to the state you are from."

    If the buyer is paying the sales tax, shouldn't the tax be added to the purchase cost rather than deducted from the sales proceeds to the seller?

    The sales tax is added to the total sales price. The buyer has to pay the sales tax on top. It IS NOT deducted from the sellers proceeds. Reverb calculates and charges based on the buyer’s location.

    Also, just for clarification, Reverb’s seller fees are subtracted as a percentage of the final sales price, not the original listing price.

    I have no stock in the company, but have sold hundreds of thousands of dollars in merchandise via Reverb, so I’m pretty familiar with how their system works. The whole process is much smoother than eBay. I hope Etsy just leaves them alone and they can maintain the level of service I’ve experienced so far.

  15. #164

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    Quote Originally Posted by Wildcat
    Reverb automatically deducts the tax from the sale and forwards to the state you are from.
    On my last reverb sale, a guitar that sold for $1100, reverb collected the sales tax from the buyer on top of the purchase price, and then submitted to me the entire sales tax along with the sales proceeds via paypal.
    They then charged back the sales tax amount at the end of the billing cycle when they billed for their selling fees.

    I find this problematic for various reasons:
    What about those who close accounts and disappear before the end of cycle.
    Also, I prefer to pay reverb fees via credit card. However for those who carry a balance they may not care to have someone elses sales tax charged to their card.

  16. #165

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    Quote Originally Posted by wengr
    On my last reverb sale, a guitar that sold for $1100, reverb collected the sales tax from the buyer on top of the purchase price, and then submitted to me the entire sales tax along with the sales proceeds via paypal.
    They then charged back the sales tax amount at the end of the billing cycle when they billed for their selling fees.

    I find this problematic for various reasons:
    What about those who close accounts and disappear before the end of cycle.
    Also, I prefer to pay reverb fees via credit card. However for those who carry a balance they may not care to have someone elses sales tax charged to their card.

    I’ve never heard of such a thing. Reverb’s standard policy is to subtract all fees and sales tax before paying out to the seller.

    Here is an example from a recent sale:


  17. #166

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    Quote Originally Posted by Wildcat
    I find it interesting that the fees were based on the original price rather than the actual sale price.
    It is sad I agree. I suppose this is to prevent to seller and the buyer to cheat out Reverb. Say the seller put his stuff for $1000 which is a real market price.
    When the buyer contacts him (and in case the seller decide to risk the Reverb payment safe infrastructure) they agree that the buyesr makes an offer say $100 the seller accepts it via Reverb, and the buyer pay $900 using external payment infrastructure to the seller. With this trick, the seller should only pay for Reverb based on $100...

    Yes I know. This is a typical case, when to prevent cheaters, the waste majority of honest people pays the price. I also know that for many of us, the tricking I described above sounds definitely a NODO, but please try to be creative when imagine what other kind of attitudes (including ignorance) are out there. Because of the big number of buyers and sellers Reverb had handled, I am sure that they experienced such kind of cheating...

    We may not agree with the Reverb policy, just trying to answer why they count on the original price.

  18. #167

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    It's not that easy to fake a price though, as it would forfeit any insurance, case something goes wrong with the sale. Declare 100$ and that's what you 'd get back?

  19. #168

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    Quote Originally Posted by Alter
    It's not that easy to fake a price though, as it would forfeit any insurance, case something goes wrong with the sale. Declare 100$ and that's what you 'd get back?
    Agree, it costs risk on both sides, suppose some level of ignorance, not talking about the bad attitude. But some seller declares no return policy anyways.
    The other thing what comes in my mind, this Reverb policy tends the sellers to not came up with irrealistic prices what they lowering by 20% which a usual cognitive bait. Also prevents to start every listing with an irrealistic price in the hope they can fish out a loser buyer. Just thoughts. It is a bit far from me to make living by selling, just buying my guitars there because I have no opportunuty to have a big store nearby (plus I am left handed, which divides the buy options by 10 or more...)

  20. #169

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    Quote Originally Posted by ThatRhythmMan
    I’ve never heard of such a thing. Reverb’s standard policy is to subtract all fees and sales tax before paying out to the seller.

    Here is an example from a recent sale:

    Yes that's what I would expect, so I was quite surprised to have Minnesota sales tax proceeds deposited in my paypal account.

  21. #170

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    Quote Originally Posted by Hammertone
    IMO, one significant reason for the success of various online retail enterprises has been the ability for consumers to avoid paying sales taxes on items purchased out of state. The feds/state officials have finally, mostly, closed this loophole (and that is exactly what it was) by leaning on Paypal/Reverb/ebay etceteras. I believe this will put a noticeable dent in transaction revenue for many online sellers as consumers adjust their spending accordingly.
    The last item I sold on Reverb, the buyer was charged 5.5% tax, which was added to the total price. A first for me. Here's how it shook down:

    $1400.00 Sale price
    $77.00 Tax (5.5%?)
    $1477.00 Total price
    $1433.87 My Paypal take after *their* fees.
    $49.00 Reverb selling fee + $77 (tax) Goes to Reverb

    I can't seem to figure out if PP a/o Reverb are basing their fees on the original sale price, or if they are also taking a slice of the $77 in tax.

    In any case, it seems that since I am paying the tax "back" to Reverb, I should not have to worry about it at tax time. Correct?

  22. #171

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    When i see something on reverb im interested in i contact the seller and make "other" arrangements.

  23. #172

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    I agree. But some folks dont feel comfortable with that regardless of being a good way to save money. Trust factor.
    Also, as someone mentioned before, if they have a brick and mortar store, I call them there and negotiate.

  24. #173

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    Ya exactly,,i just did that..saw their phone number and website for their store..called direct. interesting Reverb even allows that, website, phone numbers... Even individual sellers Ive contacted are all willing to go "another" direction. Actually a few ive asked if they are on The Gear Page or something like that, and to discuss there.

  25. #174

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    So I attempted to buy a Lowden GL 10 on Reverb. It's a pricey boutique solid body with a limited audience. Pretty guitar though. And I don't have a P90 solid body. Whether or not I have a requirement for one is another matter. Seller was a large retailer in the UK.

    I signed up for an account on Reverb with email and lots of personal information. I verified a cell phone. They charged my credit card (before shipping or anything else for that matter) and, without my permission, stored my credit card particulars on their website along with all my other valuable, trackable, and marketable information. Fine.

    Next day I get two emails. One saying my credit card was being refunded. The other saying my account was 'Under Review'. Indefinitely.

    Hmm.. a polite WTF email was dispatched. Quick response. More or less 'never mind.. no longer under review. As you were.' No explanation would be forthcoming. Ever.

    Disappointing. Though I did feel compelled to pursue the inquiry: What about the transaction? Getting the anticipated: 'Well.. the seller has relisted.. you were refunded.. you're free to proceed back into the fray.'

    Hmm.. not much of a guitar buying experience. Is it.

    While I am a little disappointed that the IT department has inherited the earth (could be worse after all), I am grateful for the brief pause and annoyance their process, procedures and algorithmic world view provided. While Lowden and Peach Guitars have lost a sale, I am now back in the reality of too many guitars and recognizing my susceptibility to a pretty face. Sigh.

  26. #175

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    I know it was a lousy experience but having watched this unfold, I think you may be better off. That Larrivee looks like better deal to me.

  27. #176

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    Quote Originally Posted by Jim Soloway
    I know it was a lousy experience but having watched this unfold, I think you may be better off. That Larrivee looks like better deal to me.
    True. And not like it was actually lousy.. just thought some in this forum could relate.

    You know.. if someone just wants to make music, not sure there is any reason not to try the Epiphone Les Paul Special with P90's for $400.

  28. #177

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    I hope the original sale was not in pounds sterling because if it was you would lose foreign exchange in the refund exercise. If you used Paypal the refund would be minus Paypal's 4.5% Cross Border fee as Paypal no longer refunds its fees in scuppered transactions. Coupled with Paypal's lousy foreign exchange rate you could be losing 10% of your original USD for nothing.

    Don't wish to scare you, Spook. Did you check how much you were actually refunded?

  29. #178

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    Eddie's Guitars is running a 15% discounted sale on its GL-10s with free CONUS shipping that brings the prices in line with Peach Guitars offerings not to mention you save on the cost of international shipping. They are the Humbucker version.

    The Peach Guitars Lowden P90 GL10 has been re-posted for sale on Reverb. I see no indication that buyers from the USA are excluded from the sale so what gives? Why was your purchase refunded?

  30. #179

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    Quote Originally Posted by Jabberwocky
    I hope the original sale was not in pounds sterling because if it was you would lose foreign exchange in the refund exercise. If you used Paypal the refund would be minus Paypal's 4.5% Cross Border fee as Paypal no longer refunds its fees in scuppered transactions. Coupled with Paypal's lousy foreign exchange rate you could be losing 10% of your original USD for nothing.

    Don't wish to scare you, Spook. Did you check how much you were actually refunded?

    Thanks for flagging all of this. Good to know. Thankfully, this transaction was in dollars and using a Visa. Refund was prompt and accurate. It was just odd.. With a few numbers typed in could readily buy a $20K or more item from a big box store online. But Reverb hangs up on $3K. Odd.

  31. #180

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    I don't buy any guitar I cannot play first. I shop amps and pedals online, but with guitars I gotta know my hands are happy.

  32. #181

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    Where I live, if I did that I would never own a guitar. The closest store that stocks something other than bog standard teles and Les Pauls is an 8 hour drive one way. I've had pretty decent success buying online but one has to know what they want and be willing to take a chance that they may be disappointed.

  33. #182

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    I have had really great experiences with Reverb, including two sales the within the past month. I've found the customer service to be top notch, and thankfully, I haven't encountered any bad actors on the site yet.

  34. #183

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    Quote Originally Posted by JSanta
    I have had really great experiences with Reverb, including two sales the within the past month. I've found the customer service to be top notch, and thankfully, I haven't encountered any bad actors on the site yet.
    I have bought and sold stuff on Reverb and all went well.

    With EBay, selling has always gone well,
    but I have had some less than stellar experiences there as a buyer. And Paypal once left me out to dry on a fraud deal (I lost less than $50, not enough to bother suing them over, but enough so that all of my Paypal transactions now go through my American Express card).

    Craigslist has been great, but I have had flakey buyers not show up and once a seller called me while I was on the road to tell me he sold the guitar to someone who was able to get there faster (That was a wasted 100 miles of driving that day).

    My very best buying and selling experiences have been on this forum and the Djangobooks forum.

  35. #184

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    Quote Originally Posted by Stringswinger
    all of my Paypal transactions now go through my American Express card.
    Amex and PayPal go together like white on rice. I don't buy anything online without them!