Question
Over a month ago I started a thread about joining paypal and asked for opinions.
1) I did open the new account in a different bank for paypal deposits.
2)I did decide to take "non-confirmed shipping address" paypal members, as someone suggested, and there have not been very many of them.
3) I did use my ebay email address as my paypal one. I was going to use a different one, but someone said that people would try to pay my ebay one, and it would frustrate them as they would have to reclaim the money from that address and resend it.
Well, I have to say that I am liking it very much so far. Now I am only selling items ranging from $25-75 dollars.
And I know there are always the people that say paypal is just waiting to "get" me. But there are many more sellers that say they have used it for years with never a problem.
Well I like it so far! Most of the time a person makes the ebay purchase, and since I have all my shipping options in the auction, they paypal the funds right away. I have cut down on the time it takes me to email the winners, wait for the response, etc. My mail payments have become almost non-existent. Repeat buyers that once sent mail payments are now paypaling. And buyers still seem to be finding my website and adding items to their paypal payment.
Joining up , setting the accoutn up and tweaking your preferences took a good part of the afternoon. I'm glad I left a lot of time for that so I didn't feel rushed.
I wish that paypal would set a feature where you could choose what countries you can accept paypal from. Right now it seems to be either you accept international payments or you don't. I would accept paypal from Canada, UK, Germany and Australia if I could have preferences.
So I have to say that, knowing there are risks in all formas of payments except cold hard cash, I am happy I decided to join up. I do seem to be selling more on the whole, and getting payments faster sure leaves me a lot of time for doing other things.
Answer
Hey okiepaints:
Glad to hear that your experience with PP has been a good one.
I'm sure that all the usual doomsayers will be along shortly to tell you that:
<UL TYPE=SQUARE><LI>You have made a deal with The Devil<LI>You are going to be screwed somewhere in the (indeterminate) future but you just don't realize it at the moment (you poor sucker).<LI>THEY would never use PayPal - unless HELL froze over.<LI>Thankyouverymuch - but they don't take Pay Pal (and NEVER WILL) and routinely kick the azz of competing sellers that do![/list]
Enjoy your $$$$$$$$$$$$!
http://www.stopstart.fsnet.co.uk/smilie/jesterlol.gif
Answer
If you can afford to pay out of your profits for the service, good for you.
Were it me, I'd keep track of how much you end up paying for their services each month. A dollar here, 3 dollars there, .75 cents there sure does add up to a chunk rather quickly. A chunk that could be in your pocket.
Hey, I'm not entirely knocking it. They do provide a service. If it's worth it to you, great.
But the only reason it's so popular with buyers is it's free, for them. If they got charged for each transaction, even if just a small flat fee, they'd probably drop it quick, like a hot potato.
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Hi corrdogg,
yes, I know about the doomsayers. I even mentioned that in my original post, but deleted it...Thanks!
busker, I have had a merchant account for years, so that costs me too. My thinking is that yes, credit cards and paypal takes some money away from you, but it is a business expense entered at tax time, and how many more buyers does it bring your way? Is it better to sell 1 item to a person that pays by money order or 10 items to people that pay by paypal or credit card, as long as you know your expenses?
Answer
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>But the only reason it's so popular with buyers is it's free, for them.<HR></BLOCKQUOTE>
Free? Really?
"My S&H is in force solely to recover PayPal fees. I see other eBay sellers in my categories have also adopted this strategy now, especially since PayPal tightened the noose on their 1.5% rebate deal."
"I charge a $1.25-$1.30 handling fee on almost all auctions. Very large packages are sometimes more, but never over $5.00. At mentioned above, this is in part to help with Paypal fees."
"I add anywhere from $1 - $2 for handling disclosed in the auction description always. This covers paypal fees, listing fees, packing materials, listing fees on items that don't sell etc."
"I charge a flat rate based on the subtotal of the merchandise, after keeping up with my postage costs over a period of time, and factoring in the costs of boxes, bubble mailers, labels, PayPal fees, etc."
http://community.here.com/3/OpenTopic?q=Y&a=tpc&s=386293084&f=200299906&m=2152 970837&p=1
Answer
Free? Really?
No. TANSTAAFL.
If it wasn't for the "free lunch" sign, the drinks would be cheaper. http://community.here.com/infopop/em.../icon_wink.gif
"If you want to make an apple pie from scratch, you must first create the universe." - Carl Sagan
Answer
Is it better to sell 1 item to a person that pays by money order or 10 items to people that pay by paypal or credit card, as long as you know your expenses?
I don't know that most antique/collectible sellers have all that many repeat buyers. Maybe you sell items that attract many repeat buyers. I have maybe 10-12% repeat feedback.
Repeat business is good and all, but new business is as good and better. Without a stream of new users/buyers continually coming in to ebay, sales would dwindle to nothing in no time.
Hey, I've used Paypal. It's OK. I used to accept it when the buyer could do cash transfers and it cost me nothing. Then I tried it with a regular account, where I paid, then I stopped after I saw the amount I paid over 3 or 4 months. Now the only time I accept it is when I get railroaded - you know - people who use it to pay you without making sure you do accept it first. I simply do not like giving up a percentage to ebay and some other entity as well.
I might as well go back to mall selling if too many get a cut. You pay space rent, give the mall a percentage, give the customer the customary 10% discount, and pretty soon there goes 25% of your sales.
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Mrpotatoheadd, Microbes
I understand where you're coming from, but that ain't me. My minimal handling is meant to recover most of the shipping supplies cost. I never added a bunch for Paypal, even when I advertised that I accepted it.
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Hi busker, yes you are right. I have a lot of repeat customers. I believe a seller needs to judge what he needs to do regarding his business only. Just because something works for me, doesn't mean it will work for you and visa versa. But sharing ideas never hurts.....
It took me a long time to accept and try paypal. But I was not getting the sales like I used to. It has helped me in that way. If there were not some people that posted encouragement to me I might still not have tried it.
Answer
I am in my second month of using a personal paypal account.
This way it does not cost me to accept paypal payments.
I don't want to upgrade to a business acount but at some
point if I have to, I will but then I probably will add
a small handling charge to my auctions. Not over $1.00
I do have quite a few people using paypal. So far no problems.
I had used paypal several years ago, but only for 5 months.
No problems then either.
I have had to deny probably 4 payments so far as they used a credit card, and I can't accept them for paypal payments.
They just had to find another way to pay me.
Paypal is a plus in one's auctions. And a lot of buyers
sure do like to use this service.