I'm a power seller now what?

[Pseudoty]

I just found out I am a power seller as of today. I read the eBay link and still not clear what it means to me or possibly more importantly someone purchasing an item deciding who to buy from. Or is it just some title eBay gives you to boost your ego and make you want to pay more FVF.

I have not been listing any items and letting what I have sell or expire. Just been focusing more on buying and letting my sets age. Plus I needed a break from shipping.

Will I loose this status if I don't list/sell a certain number of items per month or is it a once you earned it you got it as long as no issues, negative feedback?

As always any info is greatly appreciated.

[Guest ph4tb0i]

it's just recognition (i'm assuming you're at bronze)?

 

Top Rated is where you really want to aim as the shipping discounts are enormous. 

[justafrog]

eBay has a lot of help pages and I recommend all sellers read them (and then re-read them regularly, as they can and do sometimes change without notice and your business may change so that something you skipped over before as not relevant has become so).

 

This is the start page for Powersellers:

http://pages.ebay.com/help/sell/sell-powersellers.html

[Guest TabbyBoy]

You're now more visible to the tax man, make sure your records are accurate and up to date.

[Guest brickcrazyhouse]

about to lose my "power" status apparently not enough sales.  reduction in shipping is nice but have noticed a lot less viewing and purchases ever since I got the status. won't miss it if sales increase 

[DoNotInsertIntoMouth]

You're now more visible to the tax man, make sure your records are accurate and up to date.

 

It technically has nothing to do with that  its only 1000$ and 100 transactions I think. But I agree with taking care of your tax stuff.

 

I think it helps a little with sales. I got a big boost from power seller - now I am silver. I will admit myself I trust a power seller more than a non power seller when buying.

 

Understand the irritance with shipping.

[Guest TabbyBoy]

I had a letter from HMRC ( UK IRS) as soon as I became a Power Seller in 2004 and they mentioned that this aroused their interest. However, I had already told my accountant what I was up to and he dealt with it. I had to "lose"

[justafrog]

I had a letter from HMRC ( UK IRS) as soon as I became a Power Seller in 2004 and they mentioned that this aroused their interest. However, I had already told my accountant what I was up to and he dealt with it. I had to "lose"

[Guest ph4tb0i]

TabbyBoy brings up a great point: If you do a ton of sales than start thinking big and planning it as you would any business. 

 

In my case all my sales and purchases are done through my corporation, which is very advantageous as mileage and expenses to acquire are written off. 

 

As long as I keep my sales under $500,000 canadian I pay a flat 15% tax on my gross profit. So in a nutshell I make more money reporting my sales than not, which is why I always wondered why powersellers try to keep their sales from the tax man...