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eBay is trying to Pull the Wool Over Your Eyes! Lower Insertion Fees = 40% Increase in Fees Overall!
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1) eBay is trying to Pull the Wool Over Your Eyes! Lower Insertion Fees = 40% Increase in Fees Overall!
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1) eBay is trying to Pull the Wool Over Your Eyes! Lower Insertion Fees = 40% Increase in Fees Overall!
This morning we talked to many stamp collectors, dealers, and eBay users who mentioned that eBay was finally lowering their fees! Welcome news to those who use eBay and have had to deal with ever increasing fees, making it harder and harder to break even, let alone make a profit. At StampWants.com, we were a little skeptical of this, and decided to investigate. eBay's big announcement, entitled "A Message from Bill Cobb – New Pricing and Other News " was where we started.
We read the entire article which highlighted the new price reductions and other changes eBay is making, starting February 20th. Based on the article's content, it seemed as though it would soon be less expensive to sell on eBay. With insertion fees being reduced, and new discounts for high feedback PowerSellers, how could it not be? However, we kept going back to one part of the article:
"First, we're reducing the up-front risk for all of you by lowering insertion fees for auction and fixed price listings across the board...and we're balancing that change by adjusting some final value fees. We will take a similar approach with Store Inventory Format listings."
Well... "adjusting some final value fees," just seemed a little too convenient, since it was quickly tacked on to the end of a sentence and not mentioned again in the whole article. Here was the catch we thought, let's see exactly what these fees are! After re-reading the article we noticed a link:
"Please read our Overview page for more specific details."
Upon entering the page, we first saw the new insertion fees, which were on average lower by about 10-20%. However, once we scrolled all the way to the very bottom of this page, we were shocked to see the new Final Value fees! Auction and Fixed Price Listings under $25.00 will now have an 8.75% Final Value fee, compared to the current 5.25% fee. This is a 67% increase! Just look at the following comparison:
Selling a $20 Stamp at Auction or Fixed Price on StampWants.com:
$0.06 Insertion Fee + $0.60 Final Value Fee (3.00% of $20) = $0.66 Total
Selling a $20 Stamp at Auction or Fixed Price on eBay Currently:
$0.60 Insertion Fee + $1.05 Final Value Fee (5.25% of $20) = $1.65 Total
Selling a $20 Stamp at Auction or Fixed Price on eBay as of February 20th:
$0.55 Insertion Fee + $1.75 Final Value Fee (8.75% of $20) = $2.30 Total
$2.30 total compared to $1.65 currently on eBay - that's a 40% increase! As Bill Cobb says "All of these changes came as a result of listening to your ideas and concerns," did you ask eBay to make it cost 40% more total to sell on eBay? I doubt it, and I doubt anyone else did either. At StampWants.com however, we do listen to your ideas and concerns, which is why we continue to make our site better, and add all the features and tools that you ask for. And unless everyone starts asking us to raise our fees 40%, we're sticking to our continuously low fees.
We hope that this StampWants.com Special Edition Newsletter has helped you avoid any confusion over eBay's latest fee increases, and as always, if you need help moving your inventory from eBay over to StampWants.com, just let us know, and we'll help.
Mark Rosenberg
President of StampWants.com
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2) Featured Items [ View All ]
3) Recently Bid On [ View All ]
4) Monthly Giveaway Items for January
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