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Sales, Swaps, Auction & Approvals/Approvals Disc. :  Tips for a newbie approval book seller

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kam41566
12 Jan 2014
11:31:19am
I am really excited about the creation of approval books on Stamporama. I had been thinking about selling some of my massive amount of duplicates to get some extra cash and the approval books seem like the best way to do it. However, I have never sold any stamps online before. What tips do you have for someone just getting started? For those that use paypal, what are the fees for sellers? I tried looking on the website but it wasn't really clear to me what the fees were.
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BobbyBarnhart
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12 Jan 2014
10:24:18pm
re: Tips for a newbie approval book seller

Kristin

The best place to start is the User Guide (top right on the user bar on the Approvals screen). Next, go to the various discussions on the Approvals program (there are several, but start with THIS ONE and THIS ONE).

Bobby

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FrankyB
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13 Jan 2014
03:30:15pm
re: Tips for a newbie approval book seller

dont worry about the paypal fees they are minimal for the convenience. I think it is 3-5%. I would say just follow the quide and make things clear and easy. Dont do to much the first few times..you can always add more. Learn from experience what sells and what is easiest for you.

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Patches
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Liz
13 Jan 2014
08:06:50pm

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re: Tips for a newbie approval book seller

PayPal fees depend on the country of your residence.

For Canadian residents the fees are:

Rate:
2.9% + $0.30 CAD per transaction (transactions from within Canada)


International Sales: (transactions - payment from Outside of Canada)
2.9%- 3.9% transaction fee + fixed fee (based on currency received)

For instance if someone in Canada were to pay an invoice amount of $2 to a seller in Canada, the fees for the recipient of the fees (the seller) would pay $0.30 + $0.06 or a total of $0.36 which amounts to 18% of the invoice amount.

Liz

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FrankyB
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14 Jan 2014
11:32:49pm
re: Tips for a newbie approval book seller

yes i suppose paypal hurts when small payments are made.. so add an extra quarter for shipping I am sure nobody will mind. paypal is just so much easier than any other method. As far as I understand paypal has a micro payment plan. I am not sure how small of a payment micro is though.

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roy
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15 Jan 2014
03:15:52pm
re: Tips for a newbie approval book seller

Great post Frankie. I've been on PayPal since they opened up in Canada in 2001 (opened my account the first day, as I was on a notification list). but I have never run across the micropayments plan.

You can find details here http://www.paypalobjects.com/IntegrationCenter/ic_micropayments.html

You have to have a Business or Premier account, and must set up a separate Paypal account. Only one fee scedule is applied to each account. Micropayments must be directed to your micorpayment account. The fee is 5% + $0.05 instead of 2.9% + $0.30. The cross over, or break even point, is a $12 Paypal payment. Here is a graph of how they compare:

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So if you are constantly receiving under $12 payments, it makes sense to open a second account.

I love learning new stuff!

Roy

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FrankyB
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15 Jan 2014
05:14:26pm
re: Tips for a newbie approval book seller

I just looked at the link. Unfortunately as a Canadian I will not be able to take advantage of this as a buyer or seller.

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cocollectibles
15 Jan 2014
05:20:46pm
re: Tips for a newbie approval book seller

Also, note this:

Quote:

"PayPal offers support for Micropayments to merchants for US to US, GB to GB, AU to AU, and EU to EU transactions for Business and Premier accounts. "



When I sold at bidStart, a large number of my buyers were from non-US locations so this would not work for these customers either.

Peter
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kam41566
15 Jan 2014
06:39:44pm
re: Tips for a newbie approval book seller

Thanks for all the responses. I agree paypal is very convenient and have loved using it as a buyer. Is it okay to charge extra for paypal purchases? I haven't come across this myself when buying stamps, but I did notice it in some of the listings. I guess I want to make sure before I jump into selling stamps that I don't lose money in the process.

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BobbyBarnhart
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15 Jan 2014
07:07:54pm
re: Tips for a newbie approval book seller

PayPal does not permit charging a fee to Buyers for using PayPal. A lot of folk do it and never get caught. If you are caught, you can lose PayPal privileges.

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TheBlueDude
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15 Jan 2014
09:05:41pm
re: Tips for a newbie approval book seller

I personally will NOT purchase anything from someone who charges an extra fee for the use of Paypal. It is a convenience that is supplied by the seller to help enhance sales not make money off of or deter the fee's.Thumbs Down A more professional way would not to accept paypal on small orders for $5.00 or less.

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Poodle_Mum
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15 Jan 2014
09:15:59pm
re: Tips for a newbie approval book seller

If you do want to include the additional fees for Paypal, you *could* add them as part of shipping/handling fees. I just suck it up and don't bother about it, but most of the time the total is more than $5 usd for Approval purchases. I've not yet had success in the auction section, but hopefully in the future. A lot of individuals I know will just hold an outstanding invoice with the buyer until they've accumulated more than say just $0.50 purchases. That's the difference with SOR as opposed to business sites. We're on a one-to-one basis and more flexible with members.

Kelly

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DRYER
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16 Jan 2014
03:08:53pm
re: Tips for a newbie approval book seller

The Blue Dude has nailed it, Kam41566. It is unethical, unprincipled and a
lot of other derogatory things to charge a fee for using "payPal". It depends
on how you see yourself; not as a stamp seller or buyer, but as a human being.

John Derry


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Rhinelander
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20 Jan 2014
07:10:38pm
re: Tips for a newbie approval book seller

I received a couple of invoices over the last few days and noted that all sellers accepted paypal, but only few had used the "setup paypal option." You will find the link to this function somewhat hidden in the members' area. If you complete the information, a link to paypal will appear at the bottom of your invoices. This will enable "one-click" payments and will make paying much simpler and safer. Otherwise the buyer must initiate an individual paypal payment which requires retyping your email address and amount. This has been shown prone to error. Just last month I had someone send a paypal payment to the wrong email address. -- The person was actually not aware that a paypal link was included on my invoice. So, the lack of awareness of this nifty feature is on both sides, buyers and sellers.

Arno

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CapeStampMan
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Mike
20 Jan 2014
10:17:00pm
re: Tips for a newbie approval book seller

According to the Paypal payment page, if you click on the "I am sending money to friends or family" and use your Paypal balance, there is no fee charged. I have done this many times, but no one has ever commented about the no fee, so don't know if it is just blarney or what. I also add a little extra to my payments to help with the fees, just in case the statement does turn out to be blarney. I do have a feeling that statement is bogus because they generate income from transferring money from one account to another and don't make any money giving their service away for free. C'est la vie!

Mike

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Patches
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Liz
20 Jan 2014
11:49:10pm

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re: Tips for a newbie approval book seller

Mike it's not blarney. There is no fee for the sender or the receiver if you are sending to friends or family and using either a PayPal balance or making a payment direct from your bank account. Maybe it's one of the perks they give members seeing as they keep our money until we have $150 in our accounts so we can withdraw to our bank accounts without paying them an additional fee if the amount is less than that. At least in Canada that's the way it works. I 'think' in the USA members can withdraw their money from their PayPal balance without paying a fee no matter what the amount.

If you are paying for goods or services then the regular PayPal fee applies. I do believe if you click on a PayPal logo when you receive an invoice you are not given the choice of sending to friends or family when you reach the PayPal website.

Liz

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cocollectibles
21 Jan 2014
06:27:03am
re: Tips for a newbie approval book seller

Liz is correct, it is not blarney; however ... I would be cautious about using this a lot to pay for small irregular amounts to various "friends and family" who are, in reality, the sellers from whom you purchased. I'm suspicious that PayPal is monitoring voluminous send-money transactions as a way for those paid to avoid fees.

Peter

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CapeStampMan
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Mike
21 Jan 2014
08:21:03am
re: Tips for a newbie approval book seller

I am certainly glad to hear that this is not just blarney, but an actual service Paypal gives their loving customers. As far a "friends" are concerned, are we not all friends here on SOR, therefore I don't feel that is abuse or dishonorable either. This is one reason I don't use the Paypal link provided in the SOR billing system, since there is no way to click that button, or add any extra monies to the payment.

Mike

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