Buyers Premium at auctions. Justified?

[Steveqld]

The hobby vs business argument. Well because you say it is a hobby does not mean it is. There are countless court cases where one transaction was deemed a business. Low turnover does not mean it is a hobby. As a rule of thumb if you buy stuff and resell it with the intention of making a profit on any sort of regular basis you have a business. This is different to buying something for a collection or investment then selling it years down the track. In this case you are probably not a business then capital gains tax might be your issue.

The thing that gripes me about all auction house fees is auction houses get a bigger slice of the pie than I do. I am lucky to make 30% on most things and they get more than me for no cash outlay.

I agree with you and the point related to deductions thus minimizing tax obligations.

My wife was also in the same (former) employment as yourself hence I take her advice and be restructuring it in the next 12 months.  I think the question of CGT was discussed either early in the life of this forum or in a previous life and caused some consternation with few real answers.  A case of being aware that questions could be asked.

[Bigfellani5]

hi Bigfellani  just went to your website but you don't have photos of the pre-decimal coins that are for sale or is there something I need to do to get the photos? There's plenty of mint product pics

Predecimals are not up to date. Have some work to do there. Anyway I can email images to you. Let me know what you are after even if it is not on my site and I can see what I have.

[runway]

Bigfellani5 lists on ebay that's an auction site.His Website is not an auction site it is his website
Buyers premium ... that's just plain bs

[robbiegal]

thanks runway
i'll have a look on the bay as well

[purplepennyhunter]

Thanks for your insight. I'm going to have a look at eBay right now.

[markn]

Bigfellani5 lists on ebay that's an auction site.

What is this ebay of which you speak?

[robbiegal]

I thought ebay was an auction site?
but they get out of it strictly speaking by being a platform for venders/sellers to auction their wares
although I think that auction houses are afforded the same protection - the item is sold via the auction house and not by the auction house
that affords protection, particularly in the case of stolen goods - me thinks

ebay has direct fees applied to the seller both through the selling platform and then a monster secondary monetary source through the almost forced use of their financial arm - Paypal  but yes, for the seller and not for the buyer
the fees are hidden from the buyer but the seller has to pass these on somehow to make the figures add up correctly at the end of the month!