Thanks! Finally. Someone mentions taxes. I'm amazed at how many skirt the issue. I believe if you treat it as a hobby, you only pay taxes on the the appreciated profit at the capital gains rate. Treating it as a business affords you the opportunity to write off expenses and losses, but it's a lot more accounting. Everyone should definitely be checking in with their accountants if they sell more than a few books a year. The community needs to talk more about these issues so we can educate one another and save a potential audit.
Great video. I made a ton of mistakes starting but I did start with $1,500 three years ago. Have like 30k in books now. I just slowly resell stuff after I read and just buy slabs I want to display. When I started I bought like 80 slabs for $30-50 then had such a hard time selling them.
The big problem for people in the U.K. is that that copies sold in the U.K. were often returns from newsstands so their condition was not perfect when they landed on the stands. Also many Marvel comics were not distributed in the U.K. because in the 1970s they had their own U.K. publishing arm doing black and white reprints. Furthermore there was less of a tradition of people properly storing comics. As a result it is difficult to get anything in decent condition at a low price in the U.K. Anybody starting to deal in the U.K. would have to buy their stock from the US and that involves big shipping charges.
And whether you're selling or not it's always a great idea to track your expenses. I don't really sell anything on my collection but I still have a record of what I sent for every single comic book in the event that I do sell one day i will know that i at least broke even, or when my daughter's inherit my collection they will see the value at the point of purchase.
Great video. People always seem to miss the basic accounting that you went into here. Knowing the product counts for a lot, but the fatal errors can be in those finer details.
Appreciate the insight into your process. I've done some selling in the past, but not tons of books to your extent. But I did like keeping track of costs and fees. And I think more conversations about how to treat selling comics as a business and what to keep in mind would benefit the community. Great content!
Great video! I bought a small amount of books this morning for $60. There’s a 13 books I’ll be able to sell for at least $20. Bag and board, 13 geminis, I’m definitely in it alright. I actually love the bag and bored / research process. My problem is letting go of them 😂😂😂
Thanks for the video. I enjoyed it very much. I’ve been selling many of my books from my collection just so my son doesn’t have to deal with it when I’m gone. But I’m just selling to a local shop so I’m not getting anywhere near FMV. And I understand that. But I didn’t have the time (or patience) to put in all the work of trying to sell myself. Especially since the ones I sold weren’t high dollar books and many weren’t worth pocket change. Your video shows everything else involved in the process, not just original purchase price and final sales price. Thanks again.
Thank you for offering some insight to how you think about selling! Like a lot of people, I got back into the hobby in 2020... and I've been angling towards some small scale re-selling to support my ever growing comic collecting obsession. Always appreciate your videos!
Would like to see a video on best ways to find and purchase books/lots to resell. Great video and tips. I occasionally sell my PC books or just flip, but not a large scale. But wanting to start
Another great video! I have been buying and selling for a little while now. I learned some hard lessons when sending books in for grading, but I have really enjoyed the search for potential books to send in. Keep up the great content
I really found this informative. I've been toying with the idea of selling comics (and no matter what some on Instagram say, that doesn't make us the bad guy, otherwise your LCS would be evil too), and seeing this all broken down gives me info to think about. Thanks, brother!
@@AutomaticComics right? I see people getting all upset about collectors selling books, like, what, you've never gone to a comic shop before? 🤣🤣 I guess, people have to have something to be mad about.
Glad you went through your ledger breakdown for others. This will definitely be useful to new sellers come tax time. I do something similar in excel to help me track sales/profit margins.
Aaaand I guess our lovely friends at the IRS have cancelled the $600 dollar tax rule for 2022. So...that should be a relief for many...because that sounds and will be a straight mess.
i think some of his best advice was given at the last- buy and sell more expensive single books than lots, less work-more dough. problem is- what to do with all the more common books that come in w/ea new collection or buy? after a year or three of buying, this can turn into a sizable stock,......so, i've solved the problem the problem: don't ever sell anything.....kick bizarro can down the road.
Great video bro... I've been collecting for over 40 years and have amassed a personal collection of over 17,000 books on two coasts and I'm finally getting into selling in the new year. Would love to pick your brain as I dive into this process. I know a lot about comics but not much about this internet/comic selling community. Over the next several years I plan on selling a decent amount of my collection while also accomplishing several personal comic goals like completing whole runs and getting some personal grails. Anyway I subbed to your channel and will be following your posts.
This is great, Ryan! Thanks for the expense/profit table, and your buying & selling tips! I’ve joined my brother in buying and selling books - so far, not bad! Hoping to start parlaying more books in 2023.
Glad you found it useful. Hopefully this becomes a series of videos. I think it’ll be fun to track and also allow me to go over other applicable tips/things I’ve learned in future videos.
I got fired from my job that i was doing so well in. Because someone else messed up and well. Im tired of it and have always wanted to sell Comics and write my own. Its a dream i will make true
What a great video. I’ve only been collecting the last year. I’ve thought of getting involved in selling books by picking up collections. But I’m way too green and nervous to pick up a collection. Nevertheless, appreciate the content. This was a great breakdown.
Great video, Ryan. Very informative. Buying and selling would never work for me as I live in South Africa. Shipping costs would just kill me as most buyers are from the United States. Still a great video.
Great video man! I resell as well and it's always cool to hear how others do it. That shipping to zone 7 is killer. I make use of the USPS flat rate products for lots because of that. For larger lots (15+) books, I always set my shipping using a medium flat rate box so I know I am covered if someone from the west coast buys. I think it's about $15 or so with the ebay discount now? Regional Box A great for lots in the 7-15 book range. I also found I can fit the gemini mailers inside a legal flat rate envelope (only about 7-8 books though) and that keeps it at $8. Thanks for the insight!
Since your eBay store is well established it is not an issue but for those just starting a business if they have no or low feedback they will tend to go far lower than if they were auctioned by a more seasoned account.
Great video, thanks for the info. I am retiring soon and have a decent sized collection that I have been adding to for the past few years. I may start selling soon, so this kind of video helps me a lot. One question, if you were selling books out of your personal collection, how would you go about determining what your cost would be for accounting purposes? I am referring to books that have been in my collection for 20-30 years mostly. The ones I have bought in recent past I have documented costs of those.
You could use old price guides to estimate the prior value at the time of purchase. If you bought them new, just use the cover price. If you bought them 20-30 years ago the base cost is likely very low compared to current value. So the base cost probably won’t matter much (it may effectively be zero).
@@AutomaticComics Yea, that makes sense. I just wasn't sure if I should consider myself as a separate entity than the business or "store" that is selling the books and use current value as the cost for the store to purchase them from me, the individual. I guess that depends on whether I open a business to do the selling and file taxes through the business or include that income on my personal taxes. Thanks for the input.
Thank you for posting this video I believe that there is a lot of useful information in it. The only perceived fault is that I feel your results to date on this buy are somewhat distorted by the fact that you have a UA-cam channel and an e-bay store both of which are established and respected and you are a respected member of the comic book community. Someone just jumping with a $300.00 comic book purchase would have to work up to that level of acceptance and sales could take longer to appear.
That’s possible. But I can’t do anything about that. That’s also the advantage of eBay though, since it doesn’t really matter much what your history is. You’re selling based on the people that use eBay, your history doesn’t make much of a difference. When I buy on eBay I don’t even look at who the seller is.
Thx Ryan. Not sure why people get offended at selling/flipping. As an older gent, I'm cognizant of the eventual need to move books lest your lifelong collection become discarded or under-valued. You can't take them with you. Good analysis and breakdown. More please.
It’s always weird to me too. People aren’t offended by LCSs buying/selling books or dealers at shows. But many seem to draw an arbitrary line at an individual like myself. But can’t make everyone happy.
Thanks for showing your process. Much appreciated. It would be really helpful if you broke down how do you factor in taxes. I’m in California and between federal and state it comes to 42% of the profit so you essentially need to sell something for three times as much in order to double it.
It all depends how you run your business. If it’s a sole proprietorship, LLC, etc. But if you know what your tax liability is, then just set that much aside after each sale. You’ll fine tune it over the course of a year or so. Since you’ve got things like expenses you can back out as well. I’d also recommend doing quarterly payments. Just makes things easier. Then you’re not thinking about having to put together a big chunk of money at one time.
eBay will be sending out those 990s in the next couple of weeks, so there will be thousands of casual sellers who have their eyes opened re: taxes. I suspect that will be a catalyst for some getting out of reselling, so I’ve been saving my Pennie’s to maybe purchase some collections early in 2023. But that’s just a hunch on my part.
They’re delaying that tax requirement. There have been some articles about it recently. But that doesn’t mean people still don’t have to pay their taxes. Just because someone doesn’t get a 1099 doesn’t mean they don’t have a tax responsibility.
Consider limiting lots to 12-15 so you can squeeze them into a Gemini. Then order some flat rate LEGAL envelopes from the USPS. The Gemini slides right into that flat rate legal envelope and the eBay price for Priority mail on that is $7.90 wherever it goes.
@@AutomaticComics You have to special order them off of USPS website, which is why I think they fly under the radar. But they come in bundles of 10, so I order 4-5 bundles at a time and Ken, my trusty mailman delivers them to my door. Then I set up a shipping policy of $7.00 because everyone feels they are entitled to free shipping and $7 “feels” low enough without me having to write off more than .$90. It’s really helped me save my shirt on shipping bundles of like 6-15 comics. Yeah, I’ll squeeze 15 into a Gemini occasionally 😬
I don’t normally sell lots, so I’ve never had to consider this. With a single book in a gemini, it typically costs $4-6 with first class shipping so the flat rate was more expensive. I’ll definitely be grabbing some of those for future lot sales. Thanks again.
@@AutomaticComics Indeed. I love those sweet First Class rates at under a pound. But it becomes a pickle when it goes over into Priority rates (luckily, older comics like I love weigh less because of the cheaper, less dense paper). So I stumbled on the LEGAL flat rate solution and it’s saved me loads. Give it a try, and let me know if it works out for you!
Ryan, my main business is mens clothing on Ebay. For lots you really need to do calculated shipping. Absolutely no benefit to free shipping despite Ebay pushing that agenda.
Are you combining your comic book store and your UA-cam channel? If you did that couldn’t you use your new PC books as expensive if you make a video about them?
Great Video! Great Idea.... There is so much content where people just open boxes and show off the grade but this is really good stuff! SHIPPING - I am new to your channel so you may have mentioned it elsewhere but I am assuming you offer free shipping on auctions? Is there a reason for that and are you dead-set on always doing that? You mentioned the lots that you are nervous about, wouldn't choosing calculated shipping take the gamble out of that? COST /HR Earned - I love that you discussed that and I know unless you are using a time tracking app it would be difficult to calculate HOWEVER, if you think you could and down the line put up another one of your on screen spreadsheets which shows how much more you are earning / hr once you have stepped up the value of the comic that would be great. -- Lastly, CLAIM SALES ETC.. and other ways of purchasing comics - have you done a video on the various ways of purchasing (and for that matter) selling comics, for instance I am a bit in the dark on how to utilize Instagram as a source for buying (or selling) books. -- keep up the great work and thx again!
Hi, yes, I have done a couple videos dedicated to buying and selling comics. One I actually just re-released about a week ago if you check out my prior videos. But for your first comment, no, I don’t do free shipping. I just showed the combined price on the sheet. I used to do free shipping when I first started but I learned it didn’t help my sales any and just cost me a bunch of money. So I always charge for shipping.
I have already my small inventory all bag and boarded, all photos taken, all comics checked, a couple of gradeable comics (when the funding allow it) I am ready to start selling and I am freaking out: should I do eBay, Facebook, instagram? How do I ship? Cash? EBay? I am paralyzed right now
This so awesome. Thank you. I hear you say you are nervous about selling some of the runs, but strictly from a business standpoint, you are in the black already, so as long as it doesn’t put you in the negative when you ship should all stress be off? I mean, I know we all want to go off FMV for books (Keys especially), but once you’re in the black I imagine it would be easy to let a book go for a lot less than FMV.
time is the biggie for me....even if its something you enjoy doing-there are real and/or opportunity costs to do this (grading, pricing, creating the listing, packing, servicing post-sale, etc)-in particular if you want to be seen as a reputable seller.... selling raws on ebay-if done right (good pictures, calling out flaws, etc) takes forever.... on low value lots, to me, starts to just not be worth the effort...in particular as those also seem to be where the most headaches are as well lol.. sell raw books over >$100 all the time, no issues... but 1/4 or so low value lots have folks complaining about a grade, ship costs, etc...maybe just me-but no matter how many pictures, notes, etc-these cheapie lots seem go have waaaay more unreasonable/high maintenance buyers... i quit doing it for the most part... great exercise though-good to see your process/approach-thanks for sharing!
I agree. Low dollar books often result in the most issues. But you have to start somewhere. Then you can build up to higher dollar books, like I discussed in the video.
If you want to reach out to me on Instagram, that’s probably the easiest. I could send over pictures of them all and discuss prices. For these lots I’m not providing detailed pictures of every book. I’m generally doing lots with a grade range for everything.
Yes. Essentially all input costs for running a business are business expenses and can be written off. The cost of goods sold is necessary to track; otherwise, you won't even know if the business is profitable.
Great video as always - thanks for posting. I take it that you do most of your selling on ebay vs other platforms? If so, is it based on preference or the visibility factor of selling on ebay vs like instagram or whatnot. Also if you dont mind me asking, but would you still do the youtube videos if you werent selling? Dont get me wrong, I have nothing against anyone doing some self promotion- just curious if it was a motivating factor in creating the channel. (ps - i love your channel as it is one of the more informative ones available). thxs
I like eBay because it has a lot of eyes on it and it’s basically a set it and forget it listing style. I list the book and it sells when it sells. A lot of other platforms require a lot more active work. I started the channel just because I thought it would be fun to show books people don’t usually show on UA-cam (more expensive/rare books). But I couldn’t have the channel without my business. The business is what allows me to show the books I show and track all the sales data that I track. So while the business doesn’t need the channel, the channel does need the business.
If it’s a business you can deduct any relevant expenses. So all of my expenses for pressing, cleaning, grading, shipping materials, pricing service subscriptions, etc.
Did you mention about something being delayed in reference to the 1099? This is the first year I'm reporting Comic income because before it was all under 20k on eBay. I admit I'm worried about all the work. Ty for info
I saw an article a few days ago where they’re apparently delaying the reporting requirement. The article was specifically talking about PayPal, so I’m guessing eBay will follow suit. But I’d recommend doing a Google search to confirm.
Hi Ryan hope you had a good Christmas, just a quick question. I’ve just bought TMNT 3 cgc 9.4 with a crack case for £160 which is about 190 dollars would you say it was a good buy. Cheers. Happy new year to you and your family 🎉🎉
Hy Ryan, is this your full time job (your business) for 2023 or do you also have a day job ? Just curious to know if you catually live on your comic business. Thanks for this video !
Im nervous to get into shipping books cause i dont know what to choose for shipping and how much it ends up costing and what happens if the customer doesnt get it do you think it is worth it to do over something direct pick up on kijiji or facebook marketplace? Im in canada by the way.
I can’t really help with Canadian shipping. But in the US I use USPS first class for everything under a pound and priority for everything more than 1 pound.
Ryan - as you note, so much of your margin is lost to shipping expense. Do you ever use PirateShip for comparative rates on Cubic Shipping priority and UPS / FedEx for the longer distance sales i.e. California? I frequently save 20-50% on shipping vs usps priority on eBay.
@@AutomaticComics really great video btw. Forgot to mention how beneficial this is likely to be for people struggling to move lots of less valuable books. The number one point for me was your attribution of cost to cover your initial purchase price and then your comfort in moving the remainder of your books at lower prices in order to create free cash rather than locking up your cash by waiting for a few xtra $’s.
I’ve sold enough to have a good idea what things cost at different weights to different parts of the country. I always use a flat rate for my shipping though. It’s just easier that way.
@@AutomaticComics ok ty. I’m like 300 comics in. Looking to start small and go big. Most modern I know I need to find older. And do you have a video explains grading for cgc and cbcs ?
I discuss grading in some videos but understanding grading is much more than 1 video. The best source on UA-cam is ETA Nicks’s channel. He has tons of grading videos
@@AutomaticComics thank you. New to comics. I sell Disney merch and pops. But comics call to me. I have a lot of signed Tyler Kirkham. I buy from a well known source and resell. But I want to start buys lots. Ty for the videos and responses
Do you not use Media Mail due to the delivery service or the argument that comics are not really media? I have seen some very questionable items being sent to me via Media Mail...
Thanks! Finally. Someone mentions taxes. I'm amazed at how many skirt the issue. I believe if you treat it as a hobby, you only pay taxes on the the appreciated profit at the capital gains rate. Treating it as a business affords you the opportunity to write off expenses and losses, but it's a lot more accounting. Everyone should definitely be checking in with their accountants if they sell more than a few books a year. The community needs to talk more about these issues so we can educate one another and save a potential audit.
There are definitely benefits to doing it as a business. But yes, either way (capital gains or a business) you are supposed to pay taxes on the gains.
"only" lol
Thanks for mentioning taxes and discussing base costs, etc...
Just don't mention the rate for capital gains on collectibles.. the big guy gets at least 10% plus 25%
You should do a video on how to find and buy collections. Some good info on starting selling
Great video. I made a ton of mistakes starting but I did start with $1,500 three years ago. Have like 30k in books now. I just slowly resell stuff after I read and just buy slabs I want to display. When I started I bought like 80 slabs for $30-50 then had such a hard time selling them.
The big problem for people in the U.K. is that that copies sold in the U.K. were often returns from newsstands so their condition was not perfect when they landed on the stands. Also many Marvel comics were not distributed in the U.K. because in the 1970s they had their own U.K. publishing arm doing black and white reprints. Furthermore there was less of a tradition of people properly storing comics. As a result it is difficult to get anything in decent condition at a low price in the U.K. Anybody starting to deal in the U.K. would have to buy their stock from the US and that involves big shipping charges.
And whether you're selling or not it's always a great idea to track your expenses. I don't really sell anything on my collection but I still have a record of what I sent for every single comic book in the event that I do sell one day i will know that i at least broke even, or when my daughter's inherit my collection they will see the value at the point of purchase.
Thanks the nuances for new sellers at ebay was the most daunting and difficult part when I started selling.
Great video. People always seem to miss the basic accounting that you went into here. Knowing the product counts for a lot, but the fatal errors can be in those finer details.
Appreciate the insight into your process. I've done some selling in the past, but not tons of books to your extent. But I did like keeping track of costs and fees. And I think more conversations about how to treat selling comics as a business and what to keep in mind would benefit the community. Great content!
Looking forward to the follow up videos! I'd love to see where you're at with this at the end of 2023.
Thank you Soo much. When I retire 7 years from now, i want to sell my collection.
Great video! I bought a small amount of books this morning for $60. There’s a 13 books I’ll be able to sell for at least $20. Bag and board, 13 geminis, I’m definitely in it alright. I actually love the bag and bored / research process. My problem is letting go of them 😂😂😂
Letting go? Who does that?
Thanks for the video. I enjoyed it very much. I’ve been selling many of my books from my collection just so my son doesn’t have to deal with it when I’m gone. But I’m just selling to a local shop so I’m not getting anywhere near FMV. And I understand that. But I didn’t have the time (or patience) to put in all the work of trying to sell myself. Especially since the ones I sold weren’t high dollar books and many weren’t worth pocket change. Your video shows everything else involved in the process, not just original purchase price and final sales price. Thanks again.
Thank you for offering some insight to how you think about selling! Like a lot of people, I got back into the hobby in 2020... and I've been angling towards some small scale re-selling to support my ever growing comic collecting obsession. Always appreciate your videos!
Gemini fit in a Legal Flat rate envelope and it's only $9 to ship. I find flat rate shipping is the best way to go
One of the best critical thinkers for comic related topics. Great work and looking forward to updates on this process. Cheers
Agree on selling more expensive books is a better use of your time if you can afford it.
Would like to see a video on best ways to find and purchase books/lots to resell. Great video and tips. I occasionally sell my PC books or just flip, but not a large scale. But wanting to start
I did a video on buying tips about 6 months ago. Link below.
ua-cam.com/video/vgtKwxRNZXQ/v-deo.html
Here’s another one I did too:
ua-cam.com/video/-UElEgnD3GY/v-deo.html
@@AutomaticComics great. Thanks
Good idea Ryan....glad you hammered home the need to proper grade, and how it is so Key.
Another great video! I have been buying and selling for a little while now. I learned some hard lessons when sending books in for grading, but I have really enjoyed the search for potential books to send in. Keep up the great content
I really found this informative. I've been toying with the idea of selling comics (and no matter what some on Instagram say, that doesn't make us the bad guy, otherwise your LCS would be evil too), and seeing this all broken down gives me info to think about. Thanks, brother!
Glad to hear 👍. That’s exactly my thought too. How can your LCS or a show dealer not be “evil” then. It’s always such a strange like people draw.
@@AutomaticComics right? I see people getting all upset about collectors selling books, like, what, you've never gone to a comic shop before? 🤣🤣 I guess, people have to have something to be mad about.
Glad you went through your ledger breakdown for others. This will definitely be useful to new sellers come tax time. I do something similar in excel to help me track sales/profit margins.
Aaaand I guess our lovely friends at the IRS have cancelled the $600 dollar tax rule for 2022. So...that should be a relief for many...because that sounds and will be a straight mess.
i think some of his best advice was given at the last- buy and sell more expensive single books than lots, less work-more dough. problem is- what to do with all the more common books that come in w/ea new collection or buy? after a year or three of buying, this can turn into a sizable stock,......so, i've solved the problem the problem:
don't ever sell anything.....kick bizarro can down the road.
Great video bro... I've been collecting for over 40 years and have amassed a personal collection of over 17,000 books on two coasts and I'm finally getting into selling in the new year. Would love to pick your brain as I dive into this process. I know a lot about comics but not much about this internet/comic selling community. Over the next several years I plan on selling a decent amount of my collection while also accomplishing several personal comic goals like completing whole runs and getting some personal grails. Anyway I subbed to your channel and will be following your posts.
Thanks for watching and subscribing. I do have a couple selling tips videos I’ve made in the past as well if you want to look through my playlists
This is great, Ryan! Thanks for the expense/profit table, and your buying & selling tips! I’ve joined my brother in buying and selling books - so far, not bad! Hoping to start parlaying more books in 2023.
Glad you found it useful. Hopefully this becomes a series of videos. I think it’ll be fun to track and also allow me to go over other applicable tips/things I’ve learned in future videos.
I got fired from my job that i was doing so well in. Because someone else messed up and well. Im tired of it and have always wanted to sell Comics and write my own. Its a dream i will make true
What a great video. I’ve only been collecting the last year. I’ve thought of getting involved in selling books by picking up collections. But I’m way too green and nervous to pick up a collection. Nevertheless, appreciate the content. This was a great breakdown.
Awesome idea for the video!! I was always curious about this!! Keep on with the great stuff!!
Great video. Love these type videos. They are motivating on all levels of investment capital.
Great video, Ryan. Very informative. Buying and selling would never work for me as I live in South Africa. Shipping costs would just kill me as most buyers are from the United States. Still a great video.
International definitely adds a more complicated twist to it.
Great video man! I resell as well and it's always cool to hear how others do it. That shipping to zone 7 is killer. I make use of the USPS flat rate products for lots because of that. For larger lots (15+) books, I always set my shipping using a medium flat rate box so I know I am covered if someone from the west coast buys. I think it's about $15 or so with the ebay discount now? Regional Box A great for lots in the 7-15 book range. I also found I can fit the gemini mailers inside a legal flat rate envelope (only about 7-8 books though) and that keeps it at $8. Thanks for the insight!
I would have bought that collection! Great video!
Since your eBay store is well established it is not an issue but for those just starting a business if they have no or low feedback they will tend to go far lower than if they were auctioned by a more seasoned account.
That’s why if you’re just starting out you just do fixed price instead. They’ll still sell, that’s how I started at first as well
something to also consider, its illegal to tax something twice and most things on ebay are bought and paid for already reguardless of condition.
Great video, thanks for the info. I am retiring soon and have a decent sized collection that I have been adding to for the past few years. I may start selling soon, so this kind of video helps me a lot. One question, if you were selling books out of your personal collection, how would you go about determining what your cost would be for accounting purposes? I am referring to books that have been in my collection for 20-30 years mostly. The ones I have bought in recent past I have documented costs of those.
You could use old price guides to estimate the prior value at the time of purchase. If you bought them new, just use the cover price.
If you bought them 20-30 years ago the base cost is likely very low compared to current value. So the base cost probably won’t matter much (it may effectively be zero).
@@AutomaticComics Yea, that makes sense. I just wasn't sure if I should consider myself as a separate entity than the business or "store" that is selling the books and use current value as the cost for the store to purchase them from me, the individual. I guess that depends on whether I open a business to do the selling and file taxes through the business or include that income on my personal taxes. Thanks for the input.
Thank you for posting this video I believe that there is a lot of useful information in it. The only perceived fault is that I feel your results to date on this buy are somewhat distorted by the fact that you have a UA-cam channel and an e-bay store both of which are established and respected and you are a respected member of the comic book community. Someone just jumping with a $300.00 comic book purchase would have to work up to that level of acceptance and sales could take longer to appear.
That’s possible. But I can’t do anything about that.
That’s also the advantage of eBay though, since it doesn’t really matter much what your history is. You’re selling based on the people that use eBay, your history doesn’t make much of a difference. When I buy on eBay I don’t even look at who the seller is.
I think for the majority of ebay buyers price is their main consideration. @@AutomaticComics
Thx Ryan. Not sure why people get offended at selling/flipping. As an older gent, I'm cognizant of the eventual need to move books lest your lifelong collection become discarded or under-valued. You can't take them with you.
Good analysis and breakdown. More please.
It’s always weird to me too. People aren’t offended by LCSs buying/selling books or dealers at shows. But many seem to draw an arbitrary line at an individual like myself. But can’t make everyone happy.
Great video. Ive been buying books for a long time with the intention of selling one day. My question would be is eBay the best way to do it?
I could use this as a topic for a future video. But here’s one of my prior videos where I cover a lot of the options.
So You Want To Sell Your Comics? When to Sell and Selling Tips!
ua-cam.com/video/mkj-CHlbSR4/v-deo.html
Thanks for showing your process. Much appreciated. It would be really helpful if you broke down how do you factor in taxes. I’m in California and between federal and state it comes to 42% of the profit so you essentially need to sell something for three times as much in order to double it.
It all depends how you run your business. If it’s a sole proprietorship, LLC, etc. But if you know what your tax liability is, then just set that much aside after each sale.
You’ll fine tune it over the course of a year or so. Since you’ve got things like expenses you can back out as well.
I’d also recommend doing quarterly payments. Just makes things easier. Then you’re not thinking about having to put together a big chunk of money at one time.
Thx for all the good info. Im thinking of trying out selling
Always a good show ❤
Great video, enjoyed the discussion.
Awesome video! Let’s see more content like this one.
Glad you liked it.
An extremely informative video!
eBay will be sending out those 990s in the next couple of weeks, so there will be thousands of casual sellers who have their eyes opened re: taxes. I suspect that will be a catalyst for some getting out of reselling, so I’ve been saving my Pennie’s to maybe purchase some collections early in 2023. But that’s just a hunch on my part.
They’re delaying that tax requirement. There have been some articles about it recently. But that doesn’t mean people still don’t have to pay their taxes. Just because someone doesn’t get a 1099 doesn’t mean they don’t have a tax responsibility.
@@AutomaticComics Really!? I hadn’t heard about that delay! Thanks for bringing it to my attention, I’ll look it up.
Interesting and engaging, thanks!
Awesome vid and will be following this. you know you can put a Gemini in a flat rate legal envelope and it will be cheaper for you im sure to ship.
I actually cover that in the next video
Consider limiting lots to 12-15 so you can squeeze them into a Gemini. Then order some flat rate LEGAL envelopes from the USPS. The Gemini slides right into that flat rate legal envelope and the eBay price for Priority mail on that is $7.90 wherever it goes.
That’s a great recommendation, thanks.
@@AutomaticComics You have to special order them off of USPS website, which is why I think they fly under the radar. But they come in bundles of 10, so I order 4-5 bundles at a time and Ken, my trusty mailman delivers them to my door. Then I set up a shipping policy of $7.00 because everyone feels they are entitled to free shipping and $7 “feels” low enough without me having to write off more than .$90. It’s really helped me save my shirt on shipping bundles of like 6-15 comics. Yeah, I’ll squeeze 15 into a Gemini occasionally 😬
I don’t normally sell lots, so I’ve never had to consider this. With a single book in a gemini, it typically costs $4-6 with first class shipping so the flat rate was more expensive. I’ll definitely be grabbing some of those for future lot sales. Thanks again.
@@AutomaticComics Indeed. I love those sweet First Class rates at under a pound. But it becomes a pickle when it goes over into Priority rates (luckily, older comics like I love weigh less because of the cheaper, less dense paper). So I stumbled on the LEGAL flat rate solution and it’s saved me loads. Give it a try, and let me know if it works out for you!
Excellent Video!!
Ryan, my main business is mens clothing on Ebay. For lots you really need to do calculated shipping. Absolutely no benefit to free shipping despite Ebay pushing that agenda.
I do a flat rate shipping. I haven’t done free shipping for many years.
Sometimes I end up ahead, sometimes behind but it tends to average out.
@@AutomaticComics I do flat when its 8 -11 oz. Over 12 the post office pricing difference is dramatic from coast to coast.
Are you combining your comic book store and your UA-cam channel? If you did that couldn’t you use your new PC books as expensive if you make a video about them?
Great Video! Great Idea.... There is so much content where people just open boxes and show off the grade but this is really good stuff! SHIPPING - I am new to your channel so you may have mentioned it elsewhere but I am assuming you offer free shipping on auctions? Is there a reason for that and are you dead-set on always doing that? You mentioned the lots that you are nervous about, wouldn't choosing calculated shipping take the gamble out of that? COST /HR Earned - I love that you discussed that and I know unless you are using a time tracking app it would be difficult to calculate HOWEVER, if you think you could and down the line put up another one of your on screen spreadsheets which shows how much more you are earning / hr once you have stepped up the value of the comic that would be great. -- Lastly, CLAIM SALES ETC.. and other ways of purchasing comics - have you done a video on the various ways of purchasing (and for that matter) selling comics, for instance I am a bit in the dark on how to utilize Instagram as a source for buying (or selling) books. -- keep up the great work and thx again!
Hi, yes, I have done a couple videos dedicated to buying and selling comics. One I actually just re-released about a week ago if you check out my prior videos.
But for your first comment, no, I don’t do free shipping. I just showed the combined price on the sheet. I used to do free shipping when I first started but I learned it didn’t help my sales any and just cost me a bunch of money. So I always charge for shipping.
Good breakdown
I have already my small inventory all bag and boarded, all photos taken, all comics checked, a couple of gradeable comics (when the funding allow it) I am ready to start selling and I am freaking out: should I do eBay, Facebook, instagram? How do I ship? Cash? EBay? I am paralyzed right now
This so awesome. Thank you.
I hear you say you are nervous about selling some of the runs, but strictly from a business standpoint, you are in the black already, so as long as it doesn’t put you in the negative when you ship should all stress be off? I mean, I know we all want to go off FMV for books (Keys especially), but once you’re in the black I imagine it would be easy to let a book go for a lot less than FMV.
Appreciate it, thanks. But yes, that was my point, with the shipping and eBay fees I could potentially go in the negative.
thank you for the video
Great content!
Thanks!
That’s a bit above minimum wage, You’re doing alright.
good stuff!
time is the biggie for me....even if its something you enjoy doing-there are real and/or opportunity costs to do this (grading, pricing, creating the listing, packing, servicing post-sale, etc)-in particular if you want to be seen as a reputable seller.... selling raws on ebay-if done right (good pictures, calling out flaws, etc) takes forever.... on low value lots, to me, starts to just not be worth the effort...in particular as those also seem to be where the most headaches are as well lol.. sell raw books over >$100 all the time, no issues... but 1/4 or so low value lots have folks complaining about a grade, ship costs, etc...maybe just me-but no matter how many pictures, notes, etc-these cheapie lots seem go have waaaay more unreasonable/high maintenance buyers... i quit doing it for the most part...
great exercise though-good to see your process/approach-thanks for sharing!
I agree. Low dollar books often result in the most issues. But you have to start somewhere. Then you can build up to higher dollar books, like I discussed in the video.
I’m confused I don’t see the taxes anywhere on the spreadsheet
I’m not showing my taxes on the spreadsheet.
What is condition and asking price for the Spectacular Spider-Man 90? Details on the Dazzler lot you mentioned?
If you message me on Instagram I can get some pictures and details to you.
I would be interested in the incredible hulk comics. How would I go about being able to see them and possibly purchasing them?
If you want to reach out to me on Instagram, that’s probably the easiest. I could send over pictures of them all and discuss prices.
For these lots I’m not providing detailed pictures of every book. I’m generally doing lots with a grade range for everything.
Reality check, old comics were printed on newsprint. Golden age stuff will soon be turning to dust (if they haven't already).
can cgc grading cost be business write-off ??
Yes. Essentially all input costs for running a business are business expenses and can be written off. The cost of goods sold is necessary to track; otherwise, you won't even know if the business is profitable.
@@purewonka would that categorized on my taxes as a "professional service". thanks
Great video as always - thanks for posting. I take it that you do most of your selling on ebay vs other platforms? If so, is it based on preference or the visibility factor of selling on ebay vs like instagram or whatnot. Also if you dont mind me asking, but would you still do the youtube videos if you werent selling? Dont get me wrong, I have nothing against anyone doing some self promotion- just curious if it was a motivating factor in creating the channel. (ps - i love your channel as it is one of the more informative ones available). thxs
I like eBay because it has a lot of eyes on it and it’s basically a set it and forget it listing style. I list the book and it sells when it sells. A lot of other platforms require a lot more active work.
I started the channel just because I thought it would be fun to show books people don’t usually show on UA-cam (more expensive/rare books). But I couldn’t have the channel without my business. The business is what allows me to show the books I show and track all the sales data that I track. So while the business doesn’t need the channel, the channel does need the business.
Thanks!! Good info!! Do you use a lot of regional shipping?
No, I just keep things simple and charge a flat fee and use either priority or first class (depending on weight).
Ryan where have you found the best prices on bags snd boards ? Thank you
I just go for convenience and buy on Amazon.
Is it worth being a dealer. For grading purposes and expense cost how much can you actually deduct
If it’s a business you can deduct any relevant expenses. So all of my expenses for pressing, cleaning, grading, shipping materials, pricing service subscriptions, etc.
dope cap! where can i find it?
It's a place in Jackson Wyoming called Avalon7.
Did you mention about something being delayed in reference to the 1099?
This is the first year I'm reporting Comic income because before it was all under 20k on eBay. I admit I'm worried about all the work. Ty for info
I saw an article a few days ago where they’re apparently delaying the reporting requirement. The article was specifically talking about PayPal, so I’m guessing eBay will follow suit. But I’d recommend doing a Google search to confirm.
@@AutomaticComics Just read the article best Xmas present 🎁 of the year ty♥️♥️
And what’s a claim sale
Claim sale is basically where they have someone selling comics live on Instagram, UA-cam , etc and you can “claim” it as they show them.
Hi Ryan hope you had a good Christmas, just a quick question. I’ve just bought TMNT 3 cgc 9.4 with a crack case for £160 which is about 190 dollars would you say it was a good buy. Cheers. Happy new year to you and your family 🎉🎉
P.s great video by the way
Yeah, seems like a good purchase.
Hy Ryan, is this your full time job (your business) for 2023 or do you also have a day job ? Just curious to know if you catually live on your comic business. Thanks for this video !
Comics are a side thing for me.
Im nervous to get into shipping books cause i dont know what to choose for shipping and how much it ends up costing and what happens if the customer doesnt get it do you think it is worth it to do over something direct pick up on kijiji or facebook marketplace? Im in canada by the way.
I can’t really help with Canadian shipping. But in the US I use USPS first class for everything under a pound and priority for everything more than 1 pound.
@@AutomaticComics thank you for your advice.
Ryan - as you note, so much of your margin is lost to shipping expense. Do you ever use PirateShip for comparative rates on Cubic Shipping priority and UPS / FedEx for the longer distance sales i.e. California? I frequently save 20-50% on shipping vs usps priority on eBay.
I have used pirateship, but my shipping rates are as good or better in eBay since I’m a preferred seller.
@@AutomaticComics really great video btw. Forgot to mention how beneficial this is likely to be for people struggling to move lots of less valuable books. The number one point for me was your attribution of cost to cover your initial purchase price and then your comfort in moving the remainder of your books at lower prices in order to create free cash rather than locking up your cash by waiting for a few xtra $’s.
How do u know how much shipping is going to cost
I’ve sold enough to have a good idea what things cost at different weights to different parts of the country. I always use a flat rate for my shipping though. It’s just easier that way.
Quick question. How do you get 12 comics in a Gemini mailer ? Do you put 2 books in the same bag with 1 board ?
Thanks
No, I have one book per bag/board. Maybe I can make a brief video on it.
@@AutomaticComics that would be great content. Shipping tips also. Thanks.
How do you find lots like that?
This was a collection I bought from someone. But you can also find lots on different auction sites. I talk about it in one of my prior videos.
@@AutomaticComics ok ty. I’m like 300 comics in. Looking to start small and go big. Most modern I know I need to find older. And do you have a video explains grading for cgc and cbcs ?
I discuss grading in some videos but understanding grading is much more than 1 video. The best source on UA-cam is ETA Nicks’s channel. He has tons of grading videos
@@AutomaticComics thank you. New to comics. I sell Disney merch and pops. But comics call to me. I have a lot of signed Tyler Kirkham. I buy from a well known source and resell. But I want to start buys lots. Ty for the videos and responses
Do you not use Media Mail due to the delivery service or the argument that comics are not really media? I have seen some very questionable items being sent to me via Media Mail...
I don’t use media mail because it’s a horrible and slow way to ship comics. Also technically yes, you aren’t supposed to use it with comics.