MyComicShop should cut Beat Offer payment deadline to 4 days; per eBay19340
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poka private msg quote post Address this user | |
Quote:Originally Posted by Bronte It really depends who the buyer is. I had a $2k book which sold on Feb 24th but which took 4 weeks for the payment to clear and MCS to ship to buyer. Based on my understanding if it a long-time buyer who pays with some kind of cheque which takes a long time to clear - then MCS does give some leverage. Anyway - I was happy even though it took 4 weeks to get the payment |
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 Feel free to use my post as a checklist.
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multi007 private msg quote post Address this user | |
| There are some other benefits to selling on MCS though. When you get a check for your sales, they dont report the sale to the IRS. Even though you wait about 20-30 days for your payment, unless you report the sale to the IRS voluntarily, they dont know about it. Just like con sales or purchases with cash or check. |
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| Post 27 • IP flag post | ||
 If the viagra is working you should be well over a 9.8.
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xkonk private msg quote post Address this user | |
| Thinking back over the various threads about eBay, dealers, now MCS, and so on, it's amazing anyone buys or sells anything anywhere. | ||
| Post 28 • IP flag post | ||
 Masculinity takes a holiday.
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EbayMafia private msg quote post Address this user | |
| I assume that MCS is consistent in applying the same rules to consignors that they use in the sale of their own inventory. And as long as they do that, I have to conclude that it's fair enough. Sure, there are things I would like to tweak personally, but there are also likely consequences to those changes that I'm overlooking. MCS has many more years of experience than I do, and at an exponentially larger volume. Even with the occasional frustration, I have to assume that the MCS policies are based on what they believe is currently in the best interest of maximizing overall sales. | ||
| Post 29 • IP flag post | ||
 It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
Quote:Originally Posted by EbayMafia I fully agree, except that we don't get to see the rule book. When we have a "sold" comic that goes nowhere, for a real long time, we are left guessing why. Then we are searching through the mcs website for obscure pages that describe situations where this might occur. When you consign with mcs, there should be a page that you can review before consigning that describes sales activity (detours) that COULD occur. Then at least you are not only forewarned, you recognize what is holding up the normal progression of the sale. There is no transparency at the moment, and no way to opt out of their sales policies except to not consign comics at all. Also, a better description than "not yet shipped" would help. Like "On Hold - buyer issuing payment by check" or "On Hold - buyer adding to pull order." And posting an expected ship date would be beneficial. I was checking to see if my sold comic had shipped, every few days, which I don't think is being impatient, since most ship in 1-2 days. I did that over a 31 day period, never knowing what the holdup was. That's not right. |
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| Post 30 • IP flag post | ||
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poka private msg quote post Address this user | |
Quote:Originally Posted by chester15 Did you try to contact/email Este/Andrea through the consign email? They normally respond within 1 day. The first time I had a prolonged period for a sale before it was shipped - I did that and they explained what was the hold up. |
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| Post 31 • IP flag post | ||
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poka private msg quote post Address this user | |
Quote:Originally Posted by chester15 That page actually exist. https://www.mycomicshop.com/webuycomics/consignmentterms - check “payments” “Payments Two things have to happen before we pay you: the buyer of your item has to submit an order to us, and we have to receive payment from the buyer for that order. Items sold via auction or best offer may have some additional time before the buyer turns in their order: up to 15 days for an auction item and up to 10 days for a best offer item. Many buyers pay faster than that, but that's the maximum time they're allowed to get their orders in. Once the order is received, if the buyer is paying by credit card or PayPal, we receive the payment immediately. If the buyer is paying by check or bank transfer, it will take additional time: one to two weeks is typical, but at maximum might be up to 3-4 weeks. As soon as we receive that payment, we're ready to issue payment to the conisngor. We issue payments to consignors once a week, usually on Wednesday. Depending on the type of sale and method of payment used, most consignors should receive their payments within 1-2 weeks of the item selling, with some items taking 3-4 weeks and very few taking longer than that.“ |
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| Post 32 • IP flag post | ||
 I have not set up at a con since 2029.
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PolarisNuclearSS2020 private msg quote post Address this user | |
Quote:Originally Posted by multi007 Yeah, that’s the primary reason I consign with MCS. |
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poka private msg quote post Address this user | |
Quote:Originally Posted by ComicHoarder Deleted |
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HAmistoso private msg quote post Address this user | |
| Post 35 • IP flag post | ||
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Feel free to use my post as a checklist.
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multi007 private msg quote post Address this user | |
| In order for them to report to the irs, they would need the seller’s social security number. And I don’t remember giving mcs my social… | ||
| Post 36 • IP flag post | ||
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I have not set up at a con since 2029.
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PolarisNuclearSS2020 private msg quote post Address this user | |
Quote:Originally Posted by chester15 Look here instead. See the 2 high lit screenshots from this link, if paying by check to avoid the 2.9% processing fee, on any purchase (auctions or BIN/BO on mycomicshop.com) , the consignor can be stuck waiting a month and change for payment. Which is pretty dicked up no matter how it’s sliced, considering the buyer is saving at around 20% over any given items mirrored price on eBay. This is what I’d pay in income taxes, if I sold the same book on eBay. Sometimes the eBay mirrored price is higher than 20%, as well- on books priced at over $200, the mirrored eBay price goes up more- ostensibly this is basically an insurance policy on bigger tickets s if MCS gets jammed up with a return, they don’t lose money overall. Which is fine and makes sense but still , if I’m waiting a month for some duckweed to pay by check bc he wants to save 3 cents on the dollar, then….need I say more? https://www.mycomicshop.com/webuycomics/consignmentterms   |
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| Post 37 • IP flag post | ||
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Feel free to use my post as a checklist.
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multi007 private msg quote post Address this user | |
@poka provided I had sales….  |
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| Post 38 • IP flag post | ||
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Collector
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poka private msg quote post Address this user | |
| @ComicHoarder or could be elderly buyers who don‘t use credit card or paypal. | ||
| Post 39 • IP flag post | ||
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It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
Quote:Originally Posted by poka I was thinking of contacting Este, but I didn't want to bother her with something that I thought would take care of itself in a few days. I didn't realize it would drag out so long. And yes, my bad for not checking the Terms carefully. When I first consigned, I looked it over thoroughly and all seemed ok. I didn't really notice the perhaps 3-4 weeks to get paid. And even that is still ok, but 31 days to ship??? No mention of the piggyback feature where a pull and hold customer can just put your transaction into suspended animation for a couple of light years. And any of these unusual situations are still ok, if you are given some insight during the process. |
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| Post 40 • IP flag post | ||
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desslocktx private msg quote post Address this user | |
| Can I chime in and say that although the extra wait is frustrating, it's well worth it. I have been consigning through MyComicShop for the past four months, and I have been impressed with how great it all works. We are saving a lot of money on commissions and not worrying about shipping. Thanks for posting this thread, because I did not realize that the 3% buyer's premium was the credit card bank fee, which can be avoided by paying with a check. Is it annoying to have to wait the extra ten-plus days to get paid? Yes. But that's a feature, not a bug. Canny buyers will spend more money and buy our books. Happy buying and selling! -Steve |
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| Post 41 • IP flag post | ||
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Drogio private msg quote post Address this user | |
Quote:Originally Posted by multi007  Are they not a third party payment platform? Maybe you didn’t get a 1099 in years past because your state has a high threshold, and it wasn’t requiring MCS to generate one. But if this $600 rule holds up at the end of this year could be a different story for 2023 sales. |
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| Post 42 • IP flag post | ||
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It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
| They don't fall under that legislation because they are not a third party PAYMENT platform. Such a platform only relays money between 2 parties, and is not itself a merchant of goods. Regarding MCS, they hold the item, sell or auction it, receive the funds, all within their own accounting systems, making them a consignee. Then they retain their fee and send you the proceeds. |
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| Post 43 • IP flag post | ||
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MyComicShop private msg quote post Address this user | |
| Hi all, I'm taking the suggestion from this thread and we are shortening the window for buyers to submit their order for an accepted best offer. We now state that a buyer must submit their order for an accepted best offer within four days. The offer will be canceled if not ordered by the fifth day. There will be a transition to the new timing over the following week. We've also added some language to make the 4 day payment expectation more clear to buyers prior to entering an offer. Buyers who fail to pay for an accepted offer will receive an email warning, and on the second unpaid offer will be blocked from submitting further offers. Note that the 4 days discussed here refers to how long from when the offer was accepted to when the buyer submits their order. If they pay by an offline payment method like check or Zelle or bank transfer that isn't charged directly in checkout, we allow for additional time to receive the buyer's payment once we have their order. When making decisions on stuff like this and auction payments, we try to strike a good balance between giving the best service to sellers, and accommodating buyer desires. There are plenty of good reliable buyers that want a little bit of flexibility, and I'm sure there will be some who don't like this shortening to 4 days. Overall though I think this is a good change so am glad to make it. -Conan w/ MyComicShop |
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| Post 44 • IP flag post | ||
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It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
| Sounds excellent, Conan! And at some point if the consignment page could show that it's a paper payment, or held for a pull list, that would be good. Maybe consignors could choose whether to be involved in that hold program or not. | ||
| Post 45 • IP flag post | ||
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It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
| Also looking forward to when the inventory management tools are available system wide. Overall, the consignment program is excellent, and appreciated. | ||
| Post 46 • IP flag post | ||
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Feel free to use my post as a checklist.
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multi007 private msg quote post Address this user | |
Quote:Originally Posted by MyComicShop Awesome news! |
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| Post 47 • IP flag post | ||
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Collector
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MyComicShop private msg quote post Address this user | |
Quote:Originally Posted by chester15 The speculation in this thread that consignor payments are delayed by orders held as part of a piggyback shipment is incorrect. Pretty much the only thing that delays a consignor's payment from being issued is that we're waiting to receive the buyer's payment (or waiting for a received check to clear). As soon as we have clear payment we are shipping same or next business day and the consignor's payment can be issued. |
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| Post 48 • IP flag post | ||
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It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
Quote:Originally Posted by MyComicShop Let's presume a new comic pull and hold customer purchases and pays for a consignment comic using a credit card, to be shipped in the future with his other regularly occurring orders. The comic's status is paid, but not shipped. Is it credited to the consignor since it is fully paid, or not credited until it has shipped? |
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| Post 49 • IP flag post | ||
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Collector
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MyComicShop private msg quote post Address this user | |
| Consignments are not eligible for piggyback shipping, so the situation you described does not happen. | ||
| Post 50 • IP flag post | ||
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It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
Quote:Originally Posted by MyComicShopI tried to find info on that before asking, but maybe I was as bad at that as I was locating the payment policies. Thank you for the clarification.  |
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| Post 51 • IP flag post | ||
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poka private msg quote post Address this user | |
Quote:Originally Posted by chester15 The latter  https://www.mycomicshop.com/subscriptionservice |
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| Post 52 • IP flag post | ||
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It's like the Roach Motel for comic collectors.
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chester15 private msg quote post Address this user | |
| I'll have to research why my research abilities are so poor... | ||
| Post 53 • IP flag post | ||
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Masculinity takes a holiday.
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EbayMafia private msg quote post Address this user | |
| I'm heading to MCS headquarters early tomorrow morning with a couple more boxes of consignment slabs. I meant to go back in late January, but they got shut down in the ice storm. | ||
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