Recently sold car, choice of selling via consignment, sell to dealer or private sale. I chose private sale, got $4300 more than dealer/Carvana offered. One has to measure hassle of private sale vs ease going with dealer/buying service, in my case $4300 worth it. With audio equipment, a smaller price differential may favor sale to dealer. I've only had good experiences with TMR.
I'm a little perplexed/surprised by TMR and who sells to them.....
TMR has become a significant player in used high end gear. Their pitch is "we pay you top dollar hassle free for your used gear" .
OK, what's their idea of top dollar? It's 25% to 30% of MSRP minus more $ for blemishes that lower value. I know. I called them.
The same sellers who list their used gear for 30 or 40% under MSRP and refuse legitimate offers from qualified buyers with proven buying or selling history who offer 1/2 or so of retail are roundly ignored or even insulted. Weeks later the same item shows up at TMR at 50% of retail and you know TMR paid half of that for it.
What makes sellers do such a crazy thing?
- ...
- 39 posts total
You just need to know your basis cost (including transaction costs) and approximate purchase date. I don't know how others do this hobby, but I'm in the red for every component I turnover so it's simple matter of recording the lines for your "loss, no net profit" on your taxes. Had to finally deal with a PayPal 1099K from last year, and will again this year. A little hassle, but not too hard, and impacted my return 0 dollars. What was hard was deadling with crypto trades for 3 or 4 tax years. Even just a few trades can generate a LOT of transactions at slightly different basis costs. Then you have to do the accounting consistently from year to year (FIFO, LIFO etc). Short term versus long-term cap gains. Ugh, never again. Some people also got into very ugly scenarios specifically on coin trades - liable to a huge tax bill that you never harvested the paper gains for, then the market crashes and you're screwed. Anyways, the Paypal 1099 is easy. I kind of wince when a seller says "no PayaPal G&S because of taxes". I don't do that.
Depending on item, that's not toooo far off market prices sometimes. Sometimes it's really hard to sell an item for more than that - especially once it's 10 - 15+ years old and superseded by newer versions. The "at least 50% MSRP on anything used" days are long gone, if they ever existed. For a new "hot" item, yes 25-30% is an awful lowball (very low). And sure, TMR does turn around and charge on the very top end of market, and then some. I was wondering if you might get a better "deal" on trades, but never tried. |
Ummm... So, Mulveling, you have a CPA who accepts your word for the fact that you lost money on a sale the proceeds from which were reported as a 1099K via Paypal? Yes, that is the case for me too, that I sell for less than I paid, but unless I can prove it with receipts my accountant won't report it that way. Can someone divulge the translation of the acronym, TMR? Or is that Too Much Response? I never heard of that business, whatever it is. |
@lewm - The Music Room |
- 39 posts total