You need to make some payments when using eBay, and they are mandatory for smooth operation.
The fees are fair, and most people pay them, but others are curious to know what will happen if you don’t make the payments.
PayPal and eBay are both beneficiaries since they are directly involved in helping you sell your items.
There are ramifications to failing to make the payments on time, so let us jump right in and help you understand them;
What Happens If You Don’t Pay eBay Fees?
eBay will send you relentless reminders, and you will be blocked from listing or buying any items on their sites. They can also end all your listings and suspend the account; if you don’t pay, the account will be closed permanently and forwarded to a collection agency.
They can take their fees from your PayPal or any other account linked to eBay. You will have to pay overdue charges, and your credit score will be affected.
Understanding eBay Fees
Since the price for evading payment is so high, it is only fair that you understand why you need to pay the fees. There are two standard fees you have to spend on eBay; let us get a deeper look into them;
1. Insertion fee
This is a small fee you pay for every item you put up on eBay. Every month, eBay will offer you 50 free listings, and it is a significant advantage for beginners or people who don’t sell many items.
If you auction an item for less than $150, then you will pay a fee of $0.10. Any other listing below $150 will cost $0.30, and if it is more than $150, you will pay $0.60 and $0.20 for auctions.
2. Final Value Fee
This is a percentage that eBay will take from the sales of an item. The fee is calculated from the total price and shipping cost.
The standard fee for the final value is 10% for up to 750 items. If you are selling music instruments, you will only pay 3.5% on the final value fee.
You should ensure your account is in good standing since any below-standard sellers are charged an additional 4%. PayPal will also charge 2.9% on the sales price and $ 0.30 on each transaction.
What To Do When An eBay Buyer Doesn’t Pay
This is a rare occurrence, but it is something you should be prepared for. A buyer or bidder may fail to make the payment for your goods, and you need to deal with it as soon as possible.
The best way to deal with this is using unpaid item assistant, and this is how;
- Log into your eBay account and go to my eBay.
- Click onto account to generate a pop-up menu on the left side of your screen.
- On the pop-up menu, click on site preference, and a new list of settings will come up.
- The second last option under selling preferences is the unpaid item assistant; click on the edit button on the right side of your screen.
- In the next window, turn the feature on by clicking yes and select the option for when a case would be open when the payment is late. You can give a window from 2 days to 22 days before starting a case.
- You can then set up your email preferences depending on when you want to be notified of the events of the opening and closing of the case of an item.
- You can then add an option to automatically relist the item if your buyer does not pay for it on time.
- If you have a list of customers that you want to exclude from the unpaid item assistant, you can add their user ID in the provided field. This will allow them to take more time than the assistant allows before the item is relisted.
- Go to the lowest part of the form and click on save.
Once this is done, you will no longer need to track down buyers to get them to pay for items they purchased from you.
If payment is not made within the timeframe you set, then a case will be open, and eBay will handle it.
If the buyer does not pay even after the case is open, eBay will send you an email to tell you that the case is closed and your fees have been refunded. At this point, you can relist the item to get another customer.
This is the best way to deal with non-paying buyers since it will save you a lot of trouble. There will be no direct communication between you and the buyer.
How To Buy Things On eBay
You are in the right place if you are looking for ways to buy items on eBay. There are three ways to buy things on eBay, and all of them are easy with no complications whatsoever. Here are the three ways you can make an eBay purchase;
This is the most commonly used method when buying on eBay. Regular auctions are rather complicated, but it is simplified for you on eBay.
It is almost entirely automated, and eBay takes care of both the seller and buyer in the transaction.
All you have to do is find the item you are interested in and set a maximum bid. This is the highest amount of money you are willing to pay for the item.
After selecting the amount, you leave it, and eBay will do all the work for you. The good thing is that you don’t have to pay the price you initially set.
For instance, if you had bid $500 for an item and the highest bidder after you put $300, eBay will allow you to pay $301 since that will then be the highest bid.
A tip for you, if you want to increase the chances of winning a bid, set your max at an uneven number like $501 or $301.
This is because most people put their offers at even numbers, so the additional dollar will make you win an auction over one who sets an even number.
Check the item when the bidding window is closing to see the other bids so that you can get a better offer.
You could find no other bids, so you can just set the lowest bid possible and still win the auction.
2. Buy It Now
As suggested by the name, it means that you will buy the items immediately, just like any other store.
This will not offer you the best deals since you have to go with the seller’s price, but it is the best for those that don’t like waiting for items.
It is essential to be careful and have an estimate of an expected price range. eBay does a lot to eliminate all fake products, but it might be fake if the price is too good to be true.
Knowing the cost will also prevent you from paying too much for anything. Even if you buy a knock-off item, you can report it, and eBay has you covered.
However, to avoid trouble, thoroughly check the item’s ratings, features, and seller feedback before purchasing. Another way to be safe is to buy from big sellers that have a good reputation on eBay.
3. Best offer
You will realize that many buy it now options have the best offer option included in them. These are amazing because it allows you to negotiate with the seller or up to 5 times before getting the final price.
You need to set the price you want for the item and wait for the seller to accept or counteroffer it; then, you can keep going from there. You can also leave a note during the negotiation to make your case more convincing.
If an item has the best offer, it is most likely 10% more expensive than it should be. It is standard for sellers to leave a buffer when they are planning on negotiating.
Another advantage of the best offer is that you can buy unwanted items at a meager price since sellers are desperate to get rid of such things.
It is vital to know that you are under contract to buy it if you make an offer and the seller agrees on it. If the request is rejected, then you are not obligated to do anything.
A lot of problems will arise from failing to pay eBay fees. It is safe to say the best thing to do is pay the fees.
You will mess up your credit score, your account will get suspended or closed permanently, and you will have a collection agency coming after you.
There are several options when it comes to buying goods on eBay. You could buy it directly, at an auction, or get the best offer on an item. If you get an offer, make sure you negotiate for the best deal you can get.
- How To Cancel An eBay Order – eBay Know-How
- What are crypto exchanges?
- Profound Advantages of Online Trading for You
- What Are Some Different Ways Baby Boomers Can Save Money?
- Can I Return Something To Walmart Without A Receipt? Walmart’s Return Policy
- How To Close Wells Fargo Brokerage Account: Check Out The Easy Steps
- Can Aarons Call The Police On You? Check This Out
- Things To Know While Buying Used Shoes In Wholesale
- The 10 Best Savings Accounts In America
- The 10 Most Expensive Amiibo Figures Ever Sold