PayPal Friends & Family listings. Why is this becoming so common?


I think most sellers now realize they are not going to have a taxable profit. 

The F&F listings at market price don't seem to sell. 

It seems like buyers demand around a 20% discount to take on the added risk of F&F. 

I'm really just curious to hear what buyers & sellers think of this practice.  

seanheis1

@krelldog 

As you know, IRS requires documentation. If you bought an amp for $2500 and sold it for $2K then you shouldn’t pay any tax cause you actually took a loss. I keep records of all transactions upto 5 years. I prepare an excel spreadsheet each year of all of my purchases and resale transactions and keep it handy for IRS. 

Krellpuppy, making false statements, to bolster your dubious credibility, and then doubling down on them, is in keeping with the current climate; you must feel right at home, LOL. That’s what I got out of your little temper tantrum.

BTW, PayPal protection is worthless!

 

Years ago, I purchased two cables for $900 from a buyer with 100% positive feedback. I never received the cables. Since USPS Priority Mail uses geotracking, the local Postmaster confirmed that the package was time-stamped and delivered to my home. It probably was stolen off my front porch.

Paypal Protection requires that purchases with a value over $750 to have shipping insurance. The buyer wanted to save $3.95 and didn’t get the insurance. Paypal issued a full refund to me within 24 hours of my claim.  The seller lost $900.

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Whenever I sell an item via Paypal F&F, I always include Signature Confirmation Required - as well as shipping insurance. It’s worth $10 to me for peace of mind.

Cash and local pickup only. I’ve had people drive hundreds and over 1000 miles to pickup the item, even when I had the original boxes.
When I have sold items overseas, there is no signature required option after it leaves the states, so I demanded that the money be sent to me and clears before I ship the product.
 I used to sell with F&F thinking it was safer/less hackable but it isn’t.