They are at it again. Private sellers posting worthless stamps

[jere-nott]

It really winds me up. Private sellers listing valueless postage stamps at stupid prices. eBay is awash with these crazy private sellers.

The latest joker has a few 1955 QEII Wildings (valueless) at an eye watering BIN of £7300.00. Who are they trying to kid? They are either just plain stupid or just trying it on just like the QEII Ship stamp that has been clearly altered to defraud at an eyewatering price of £29,000.00 (CV 90p)

Just me letting off steam again - I feel better now!

It's about time eBay starts to charge a listing fee for Private Sellers that we have to pay

[style_wise]

It's best just to let it go 😉 I buy most of my wardrobe from Charity Shops or eBay. Often I see cheap used clothing priced more than it cost brand new! I just chalk it up to The Endowment Effect and move on.

[gjalp]

We know they won’t sell. Collectors will know they are not worth that and new collectors more than likely won’t have the funds to pay that price (most are cautious when learning about a new subject). 

I just roll my eyes and then scroll on when I see them 🙂 life is too short to get wound up about something you cannot change

[gnosemalf]

If they sold, how much would they pay in fees?

I'm just wondering if it might be a money-laundering exercise akin to Hunter Biden's 'art'. I remember similar theories being posited about hugely overpriced furniture on another website a few years ago.

[gjalp]

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@gnosemalf wrote:

If they sold, how much would they pay in fees?

I'm just wondering if it might be a money-laundering exercise akin to Hunter Biden's 'art'. I remember similar theories being posited about hugely overpriced furniture on another website a few years ago.

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A lot! However, what they are doing is attracting attention and visits to the sellers listings thus driving traffic. I use traffic drivers but nothing as silly as that. It gets people in and browsing and can lead to sales of other items.

[gnosemalf]

I'm no longer selling due to SD but I just checked with an eBay fee calculator and AI.

The eBay fee calculator says that there would be no fees presumably as everything is paid via BPF and AI tells me the following:

The Buyer Protection fee for an item priced at £29,000 on eBay is calculated as follows: a flat fee of £0.75, plus 4% of the amount up to £300, and 2% of the amount from £300 to £4,000. Any portion of the item price over £4,000 incurs no additional fee, meaning the fee is capped at £86.75. Therefore, the total Buyer Protection fee for a £29,000 item is £86.75. This fee is paid by the buyer and is included in the total price they see at checkout.

If this is the case, it would be a remarkably cheap way to launder money (0.3%). I'm no expert but I've seen enough crime dramas to know that fictional criminals pay anywhere between 20% and 50%.