Reverb Payout Quesiton

[scottosan]

I am having problems understanding the payout schedule. It is my understanding that one tracking information shows that that item is in transit, that it comes out of "pending" status. The last 2 time I shipped, it seemed like it was stuck in "label created" and "pending" for over a day or 2 after the item was in transit and I had to keep chatting with them to get my money released. What are you experiences with the payouts? I even changed it to Reverb buck thinking it would be faster last time, but it seems like the system sucks and is poorly documented

 

[GOHOINC]

Once I post tracking it's a day or 2 before I see it in my bank acct. Never had a problem or real delay

 

[napalmdeath]

Once I post tracking it's a day or 2 before I see it in my bank acct. Never had a problem or real delay

Once I post tracking, (if it's early in the day), I typically have the money the next day. Never an issue.

 

[232cap]

Yep reverb blows now since they sold.

 

[crwnedblasphemy]

My first time using the new system yesterday. They/Reverb were pretty forthwith in emails once I put tracking info in I had to update something, and then did a transfer. Was pretty painless. Awaiting funds...

 

[LP Freak]

What’s the deal with the taxes too? On my last sale they charged the seller tax and sent the funds to me. What are they expecting me to do with it?

 

[232cap]

I shipped within 14hr of the payment, the guitar was moving on the 1st and my feedback is 5 star. With my feedback once the seller pays I should have it released immediately. The guy is getting it Monday and its still not released. Lol

 

[232cap]

What’s the deal with the taxes too? On my last sale they charged the seller tax and sent the funds to me. What are they expecting me to do with it?

You used to have to keep the tax money and there fees in your pay pal balance till the end of the month when they bill ya now they take their cut instantly and keep the tax money. Your just have wait for them to release your money to your bank as there is no direct PayPal option anymore. Blows.

 

[napalmdeath]

They add tax to the sale, but subtract it from your payout.

Here's a sale of mine from yesterday:

Total Sales: $531.62USD
Total Processing Fees: -$13.54USD
Total Selling Fees: -$17.43USD
Total Sales Tax Remitted: -$33.62USD
Total Bump Fees: -$4.98USD
Total Shipping Label Fees: -$20.31USD

 

[Wizard of Ozz]

What’s the deal with the taxes too? On my last sale they charged the seller tax and sent the funds to me. What are they expecting me to do with it?

Wait for the bill. It's coming. You'll pay the extra money back to them then.

Reverb sucks @$$. If you still are using it... give it time... you won't.

Too much of a pita to beg some adolescent latte sipping hipsters to give me my money for my gear. Not worth the hassle anymore.

 

[LP Freak]

What’s the deal with the taxes too? On my last sale they charged the seller tax and sent the funds to me. What are they expecting me to do with it?

Wait for the bill. It's coming. You'll pay the extra money back to them then.

Reverb sucks @$$. If you still are using it... give it time... you won't.

Too much of a pita to beg some adolescent latte sipping hipsters to give me my money for my gear. Not worth the hassle anymore.

That’s what I was wondering...

 

[RedPlated]

I've stopped using Reverb for buying or selling.

And when I used to receive payments, I'd get the payment, plus the tax upfront. Then they'd subtract the Paypal fee on the total amount, including the tax. So I'd pay fees on the tax, yet I had to pay the tax back to them in full at the next invoice. So in reality I'd lose an extra 3% on whatever the amount of tax was. That just doesn't make sense. Paypal wins though.

On say a $2500 amp or guitar sale, you're literally giving away over $300 to other parties, in taxes and fees. For something none of them contributed to, other than the platform for selling. You could do a direct deal, Paypal gift and save all the cash between the buyer and seller. But everyone wants protection and there are scams out there. Doing a deal on a forum like this, with a reputable seller and buyer is the best way. I prefer buying here from people that are reputable and doing PPG deals.

 

[napalmdeath]

I still don't get what people are bitching about. The tax they charge gets deducted from your payout. Nobody gets another bill owing money. I have 195 transactions, 102 of them sales. Not once, did I owe money, or have a balance. But, I've been set up with direct deposit/reverb checkout. I've had no oddities or hiccups whatsoever. As soon as I post tracking, my payout is in my account the next day.

 

[skullfxr]

I said fuck reverb a month ago when they stopped paying out in PayPal

 

[psychodave]

I still use reverb. Listed some stuff here for weeks. Went to reverb and sold in 3 days for 30% more than I listed it here.

 

[Goat]

...sold in 3 days for 30% more than I listed it here.

You must have forgotten to include played on Lay It Down in the listing.

 

[Beyond Black]

I still don't get what people are bitching about. The tax they charge gets deducted from your payout. Nobody gets another bill owing money. I have 195 transactions, 102 of them sales. Not once, did I owe money, or have a balance. But, I've been set up with direct deposit/reverb checkout. I've had no oddities or hiccups whatsoever. As soon as I post tracking, my payout is in my account the next day.

Agreed. I’ve had absolutely no problems whatsoever. I sell my shit, post tracking, and get paid by the end of the day or the next day. They provide a great service, and nobody’s forced to use use it. The taxes suck, but that’s not their fault.

 

[Beyond Black]

I still use reverb. Listed some stuff here for weeks. Went to reverb and sold in 3 days for 30% more than I listed it here.

Same experience I’ve had. My shit rots here anymore for the most part. I find great deals on Reverb, sell most of my stuff there, and still clear more than I would here, even after taxes and fees. I even do decent on EBay and Facebook Market Place. These classifieds are far from what they used to be.

 

[glip22]

They do a daily batch report. If you miss the batch because your sale was after , you wait until next business day.

 

[napalmdeath]

I still use reverb. Listed some stuff here for weeks. Went to reverb and sold in 3 days for 30% more than I listed it here.

For sure. Our resident experts think everything is worth 30% less here, regardless. More tire-kickers/less serious buyers here.

As far as tax, it's certainly added an inconvenience for buyers. I can see where high ticket items may yield slower sales.