Sunday, April 15, 2012

Could you buy something and sell if for more on ebay? -

My friend and I are thinking about starting a business on Ebay, we fould a website that offers a high demand item for cheap. Can we buy that item and resell them for more? I don t want to get in trouble or anything, but you figure thats how people make their money right? Please let me know if thats how to do it and if there are any legal things I have to consider.

yes, but you will have to pay shipping when you buy it, then you will have to pay ebay and paypal fees when selling it. It is possible, but difficult to make profit doing that.

It s fine to buy cheap products and sell them for more, that is generally what most ebay sellers do. The only thing you need to watch out for is the legal implecations of becoming a business. You would be selling as a business aso you need to make sure you keep some kind of accounts which show how much you spend and how much profit you gain for tax purposes. If your profit goes over the tax personal allowances figures currently just over ��6,000 a year you will be liable to pay tax. So just keep an eye on your profits as there have been a few cases of ebay sellers getting caught on not paying tax.

that s how ALL businesses work - they sure don t buy something and sell it for less and expect to surviveevent tickets (scalping) in some states is the only thing you can t sell for more money or for not enough more than face value to make a profit after all your other costs

well if you make less than 500 you don t ahve to report the income, BUT if you are going to make more, you have to establish business.

I think so, I don t think there s a law against it...

It sounds ok

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