Selling $50k Nikon lens on Ebay. Not so great when you consider

[Rich]

I remember when one of these could be had for $4000. In-fact I saw on for that price. But remember, this guy sold his on Ebay, so not only is he whacked for around 15% in total Ebay fees, he's on the hook for Biden's new income tax fee on the total sale price of the lens. So that's around $14,000.

https://petapixel.com/2023/12/22/holy-grail-nikon-13mm-f-5-6-lens-sells-for-50000/

[Alan Browne]

Post by Rich
I remember when one of these could be had for $4000. In-fact I saw on for that price. But remember, this guy sold his on Ebay, so not only is he whacked for around 15% in total Ebay fees, he's on the hook for Biden's new income tax fee on the total sale price of the lens. So that's around $14,000.

It would be on the profit, so 50K, minus what he paid for it originally,
minus transaction fees.

[Rich]

Post by Alan Browne

I remember when one of these could be had for $4000. In-fact I saw on for that price. But remember, this guy sold his on Ebay, so not only is he whacked for around 15% in total Ebay fees, he's on the hook for Biden's new income tax fee on the total sale price of the lens. So that's around $14,000.

It would be on the profit, so 50K, minus what he paid for it originally,
minus transaction fees.
--
“Markets can remain irrational longer than your can remain solvent.”
- John Maynard Keynes.

Grasping ("we never met a dollar we couldn't spend") democrats panicked, they started a convoluted delay process so this MASSIVE tax didn't hit during the election. It's fascinating that over the lifespan of a product, taxes on resales can exceed the original cost of the product.
https://rollcall.com/2023/11/21/irs-delays-new-online-sellers-tax-reporting-threshold/

[Alan Browne]

Post by Rich

Post by Alan Browne

I remember when one of these could be had for $4000. In-fact I saw on for that price. But remember, this guy sold his on Ebay, so not only is he whacked for around 15% in total Ebay fees, he's on the hook for Biden's new income tax fee on the total sale price of the lens. So that's around $14,000.

It would be on the profit, so 50K, minus what he paid for it originally,
minus transaction fees.
--
“Markets can remain irrational longer than your can remain solvent.”
- John Maynard Keynes.

Grasping ("we never met a dollar we couldn't spend") democrats panicked, they started a convoluted delay process

Odd that in the US the spenders are the GOP red states. The Blue states
pay the taxes that the red states spend.
Meanwhile the main focus of the GOP wrt the IRS is to defund it so it
cannot audit the rich..

[geoff]

Post by Alan Browne

I remember when one of these could be had for $4000.  In-fact I saw on
for that price.  But remember, this guy sold his on Ebay, so not only
is he whacked for around 15% in total Ebay fees, he's on the hook for
Biden's new income tax fee on the total sale price of the lens.  So
that's around $14,000.

It would be on the profit, so 50K, minus what he paid for it originally,
minus transaction fees.

Surprising how loudly the Trumpettes love to display their ignorance.

geoff

[Bill W]

Post by geoff

Post by Alan Browne

I remember when one of these could be had for $4000. In-fact I saw on
for that price. But remember, this guy sold his on Ebay, so not only
is he whacked for around 15% in total Ebay fees, he's on the hook for
Biden's new income tax fee on the total sale price of the lens. So
that's around $14,000.

It would be on the profit, so 50K, minus what he paid for it originally,
minus transaction fees.

Surprising how loudly the Trumpettes love to display their ignorance.
Geoff

Not nearly as surprising as the consistent total ignorance of all liberals.
They’re supposed to be smart. They keep telling us that, anyway.