Author Topic: Pat's Odds and Ends for sale  (Read 1223 times)

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Offline RawGoo

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Pat's Odds and Ends for sale
« on: September 01, 2022, 11:15:05 AM »
Now that I am retired, I am finally digging through the MESS I have made of my house by collecting Wackys!!  Check here often for updates, or PM me if you have a specific request!! 

Wacky Original Series 3 set 30/30, no writing and all borders present, with one marked checklist - $30 shipped   SOLD

Wacky Original Series 3 Puzzle set 9/9 no writing - $13 shipped

1974 Wacky Packages Sew On Patches Set 12/12 - $150 shipped

Jaymar puzzle with squished box, 800 pieces (I am 99% sure it is complete, but I will put it together to make sure!) - $40 shipped   SOLD

Wacky Packages ANS 1 sealed box -  $45 shipped  (others series available, just ask)

Wacky ANS7 pair of two cereal box sets sealed (6 different cereal boxes)  - $30 shipped

Topps 2015 Wacky Parody Art Prints Set of 10 (numbered 38 of 99), approx. 5x7, card stock  $100 shipped

Wacky Ads long perf set, minus #25 Good and Empty, very nice condition - I have about $1,200 into it, will sell for $1,125 shipped, signature required  SOLD

Series 1 white back Mutts PSA 7 -  $150 shipped

Wacky Original Series 1 puzzle 9/9, no marks - $20 shipped

Silly Supermarket Stickers full box, sealed  -  $25 shipped

Wacky Flashback full box, sealed - $45 shipped

2020 May Wonky WP1 Baby Rant - $85 shipped

Wacky Original Series 5 sticker set 32/32 with 9/9 puzzle set - $50 shipped

Wacky Original Series 7 sticker set 33/33 with 9/9 puzzle set - $50 shipped

Wacky Original Series 10 sticker set 30/30, very nice, Pupsi slightly miscut - $100 shipped

Wacky Original Series 15 sticker set 30/30, very nice - $200

Wacky Reissue Series 1 sticker set 66/66 - $25 shipped

Wacky Reissue Series 3 full box, nice condition - $300 shipped

Set of 44 Punched Die Cuts, no noticeable creases - $1,000 (scans available)

Repro Die Cut Ratz and Cracked Animals - $40 shipped

Osaka PopStar 2 CD set, with Wacky promo sticker on case and Border's price tag, sealed - $25 shipped

ANS3 Base set and wrapper - $13 shipped

ANS7 Base set and wrapper - $13 shipped

2009 Halloween Cards H1-H3, Fright Pie, Bricks and Bots (orange background) - $50 shipped

2017? Set of 7 Wacky Packages Halloween Wall Plaques - $200 shipped

2017 Set of 5 Thanksgiving Wackys (Butterbrawl, McSnoremick, Bruised Yams, Lippy's, Turkey Taffy)



« Last Edit: November 16, 2022, 04:28:11 AM by RawGoo »

Offline MoldRush

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Re: Pat's Odds and Ends for sale
« Reply #1 on: September 01, 2022, 07:15:05 PM »
Now that I am retired, I am finally digging through the MESS I have made of my house by collecting Wackys!!
Pat, recalling earlier comments on this subject, i’m Thinking Wackys are just the tip of the iceberg for you in terms of collectibles accumulated!

All kidding aside, I’d be curious to hear how you plan to go about unloading other types of collectibles you have on hand.  Obviously using this forum for WPs is a great resource, but each specialty area has its own collector niche and I imagine figuring out the best way to tap into each collector base is no easy task.  Knowing that the IRS will now hit you with a 1099 for all your eBay sales, finding other ways to sell (preferably in-person, cash sales) could make life simpler and put more $$ in your pocket.  Like someone recently said, you should only have to pay taxes on net profits not total revenue, but that just creates a new bookkeeping job for you to track your costs and expenses, whatever you can write off.

I have some accumulations of particular collectibles like comic books, PEZ dispensers, GPK, action figures, fast food toys and a few others, and the thought of listing them individually or in small lots on eBay is just painful.  Conversely, if you try to sell in bulk, buyers expect to steal it from you for pennies on the dollar.  I have a friend who is trying to unload and monetize all his accumulated stuff (mostly Hess trucks and Lionel trains), and the stories he tells me about buyers’ attitudes are just brutal.  They’re typically not collectors like us who don’t mind paying fair value, they’re amateur speculators who want to pay you a pittance so THEY can flip the items and try to turn a profit.  Apparently these are the types who show up at garage sales nowadays.

Offline Jean Nutty

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Re: Pat's Odds and Ends for sale
« Reply #2 on: September 02, 2022, 07:10:14 AM »

. . . Knowing that the IRS will now hit you with a 1099 for all your eBay sales

I hadn't heard about this and looked around for more info.  The passage of the American Rescue Plan Act of 2021 (AKA the COVID-19 Stimulus Package of $1.9 trillion) means that now anyone who earns more than $600 will get a 1099 form.

Once the $600 threshold in annual sales is reached, eBay will require sellers to provide their full 9-digit Social Security number or Individual Tax Identification Number before they can continue to sell on the platform.

How will people will try to get around this? It's against eBay rules for buyers & sellers to share contact information, including email addresses and phone numbers. I imagine eBay has AI bots searching for messages that include the word "Venmo"?


Offline MoldRush

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Re: Pat's Odds and Ends for sale
« Reply #3 on: September 02, 2022, 12:41:37 PM »
I hadn't heard about this and looked around for more info.  The passage of the American Rescue Plan Act of 2021 (AKA the COVID-19 Stimulus Package of $1.9 trillion) means that now anyone who earns more than $600 will get a 1099 form.
Maybe my memory is faulty on this.  I thought that even the $600 threshold was eliminated, and that all income (or say net income) would be subject to income tax.  At least $600 provides some breathing room for the casual seller.

Offline RawGoo

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Re: Pat's Odds and Ends for sale
« Reply #4 on: September 02, 2022, 01:14:44 PM »
Pat, recalling earlier comments on this subject, i’m Thinking Wackys are just the tip of the iceberg for you in terms of collectibles accumulated!

All kidding aside, I’d be curious to hear how you plan to go about unloading other types of collectibles you have on hand.  Obviously using this forum for WPs is a great resource, but each specialty area has its own collector niche and I imagine figuring out the best way to tap into each collector base is no easy task.  Knowing that the IRS will now hit you with a 1099 for all your eBay sales, finding other ways to sell (preferably in-person, cash sales) could make life simpler and put more $$ in your pocket.  Like someone recently said, you should only have to pay taxes on net profits not total revenue, but that just creates a new bookkeeping job for you to track your costs and expenses, whatever you can write off.

I have some accumulations of particular collectibles like comic books, PEZ dispensers, GPK, action figures, fast food toys and a few others, and the thought of listing them individually or in small lots on eBay is just painful.  Conversely, if you try to sell in bulk, buyers expect to steal it from you for pennies on the dollar.  I have a friend who is trying to unload and monetize all his accumulated stuff (mostly Hess trucks and Lionel trains), and the stories he tells me about buyers’ attitudes are just brutal.  They’re typically not collectors like us who don’t mind paying fair value, they’re amateur speculators who want to pay you a pittance so THEY can flip the items and try to turn a profit.  Apparently these are the types who show up at garage sales nowadays.

Yes, Wackys are just a part of what I am looking to sell off.  There are diecast cars, and action figures galore!  Lots of spaceships, too.  Some fast food toys, and some trains.  Only a few PEZ.  The ebay thing is distressing, but such is life.  I figure I can at least claim what I spent on Wackys this year to offset a lot of it.  I have also been saving all my USPS receipts.  Some stuff I will sell on evilbay, because it is the best way for my oddball stuff.  Then there is Brian's Toys, which is always buying.  Also, there are two collectible stores within 5 miles of here that I intend to look into soon.  I feel I might get a fair shake there for my comic and magazine runs, and some vintage Mego Star Trek stuff that I don't want to ship. 

Offline Paul_Maul

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Re: Pat's Odds and Ends for sale
« Reply #5 on: September 02, 2022, 03:11:15 PM »
Pat,

If you have vintage comics (pre-1980) I know a comic book dealer in NJ who is great to work with and pays very fairly. PM me if you would like to discuss it.


Offline jleonard1967

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Re: Pat's Odds and Ends for sale
« Reply #6 on: September 02, 2022, 03:59:00 PM »
Yes, Wackys are just a part of what I am looking to sell off.  There are diecast cars, and action figures galore!  Lots of spaceships, too.  Some fast food toys, and some trains.  Only a few PEZ.  The ebay thing is distressing, but such is life.  I figure I can at least claim what I spent on Wackys this year to offset a lot of it.  I have also been saving all my USPS receipts.  Some stuff I will sell on evilbay, because it is the best way for my oddball stuff.  Then there is Brian's Toys, which is always buying.  Also, there are two collectible stores within 5 miles of here that I intend to look into soon.  I feel I might get a fair shake there for my comic and magazine runs, and some vintage Mego Star Trek stuff that I don't want to ship.
You Pay Taxes on the Difference you paid vs What you sold it for.  Also There is the whole its a hobby not a business, however if you want to treat it like a business.   Cost of good subtracted from Sales minus fees does not make a big profit if you use "Garage Sale Rules"

Offline RawGoo

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Re: Pat's Odds and Ends for sale
« Reply #7 on: September 03, 2022, 02:54:40 AM »
Pat,

If you have vintage comics (pre-1980) I know a comic book dealer in NJ who is great to work with and pays very fairly. PM me if you would like to discuss it.

Thanks!  I haven't gotten to the comics yet, but I'll keep that in mind.  I have a complete run of Star Trek books that is pre-1980, but I think most are from the 80's and 90's.  Lots of Batman titles.

Offline RawGoo

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Re: Pat's Odds and Ends for sale
« Reply #8 on: September 03, 2022, 02:55:48 AM »
You Pay Taxes on the Difference you paid vs What you sold it for.  Also There is the whole its a hobby not a business, however if you want to treat it like a business.   Cost of good subtracted from Sales minus fees does not make a big profit if you use "Garage Sale Rules"

What is the "Hobby not a business" thing?

Offline Paul_Maul

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Re: Pat's Odds and Ends for sale
« Reply #9 on: September 03, 2022, 09:18:08 AM »
Thanks!  I haven't gotten to the comics yet, but I'll keep that in mind.  I have a complete run of Star Trek books that is pre-1980, but I think most are from the 80's and 90's.  Lots of Batman titles.

Unfortunately the 80s and 90s comics are not worth much.

Offline MoldRush

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Re: Pat's Odds and Ends for sale
« Reply #10 on: September 03, 2022, 10:34:50 AM »
What is the "Hobby not a business" thing?
I was wondering the same thing.  From jleonard’s comments is sounds like he knows the subject area well.

I have a myriad of questions floating around in my head.  For instance, if I bought a comic book for 50 cents in 1975 and sell it today for $10 (say $6 revenue after deducting $4 for s&h, packing supplies, etc), what did I pay for it in terms of computing net profit for tax purposes?  Do I elevate to current Overstreet book value, convert 50 cents in 1975 to its 2022 equivalent, or both?  Who owns the appreciation and how is it determined?

Offline MoldRush

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Re: Pat's Odds and Ends for sale
« Reply #11 on: September 03, 2022, 10:39:08 AM »
Unfortunately the 80s and 90s comics are not worth much.
Very true.  You can buy $4 and $5 new comic books all day long and then can’t even give them away.  Pre-1980 is the name of the game.  Probably pre-1975 other than X-Men.

Offline JailOJohn

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  • Sticking Wackys on Furniture since 1973...
Re: Pat's Odds and Ends for sale
« Reply #12 on: September 03, 2022, 02:38:00 PM »
So i sold a couple of comics last year. Key issues, slabbed books. I had kept a list of how much i paid for the books earlier, but had no receipts to prove it. I had bought them at a convention and slabbed them. I had $200 into the one comic, including the slabbing, and $150 into the other book, including slabbing. I sold the $350 worth of books for $1,200 (yay, Covid). That was in October/November….Fast forward to February, when we were doing our taxes…the Tax preparer raised a red flag, i think we got a 1099 or some such form from e-bay, showing the $1,200 in sales. Once i told the tax preparer how much i had paid fir the books, he said we can deduct that. But i had No receipts or proof. Could I have  lied and said i paid more, to minimize my taxable profit? I do see this year that this tear, e-bay wont let me sell a single item without providing my SS or tax id number, so they can narc me out to the IRS. There is simply no way to have a side hustle any more without Uncle Sam taking his huge cut. I guess i can always mow lawns…at least until the IRS gets wind of it…

Offline MoldRush

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Re: Pat's Odds and Ends for sale
« Reply #13 on: September 03, 2022, 05:21:36 PM »
If what was posted earlier is accurate, you shouldn’t get a 1099 until your total sales exceed $600.00.  So no more slabbed key issue comics!  >(

Offline DrDeal

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Re: Pat's Odds and Ends for sale
« Reply #14 on: September 05, 2022, 04:15:06 AM »
Pat ; congrats on retiring. Hopefully this thread will lead to a meeting of the minds here with some sharing on best practices for retired Wacky enthusiasts looking to sell off their cards. I sell on ebay and would appreciate any help in handling the tax maze the new rules present. Is it correct that the new rules started this year ; so 2022 taxes due in April 2023 will be the first time these rules apply right?

Offline quas

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Re: Pat's Odds and Ends for sale
« Reply #15 on: September 05, 2022, 04:50:04 AM »
Pat ; congrats on retiring. Hopefully this thread will lead to a meeting of the minds here with some sharing on best practices for retired Wacky enthusiasts looking to sell off their cards. I sell on ebay and would appreciate any help in handling the tax maze the new rules present. Is it correct that the new rules started this year ; so 2022 taxes due in April 2023 will be the first time these rules apply right?

Yes, and I think the challenge will be determining the cost of the items sold so as to offset the sales prices (net of ebay fees) and have the tax be on any profit.  Often we don't keep good records of purchase prices, or the item purchased will be an item we purchased in a lot and there will be no individual purchase price per se, so we'll have to "allocate."  The odds of getting audited are slim but still we need to have some reasonable support for a purchase price.  If you don't sell for profit and usually take losses there will be no tax consequences.

As an example of a challenge, what is the purchase price of a sketch card if it came with a set of Old School cards, for example?
Marc

Offline jleonard1967

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Re: Pat's Odds and Ends for sale
« Reply #16 on: September 06, 2022, 09:28:28 AM »
What is the "Hobby not a business" thing?
The IRS wants their tax money, but you can not deduct hobby expenses as business expenses.  however if they consider my sales of cards for taxes, then it is a business in my eyes

Offline NationalSpittoon

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Re: Pat's Odds and Ends for sale
« Reply #17 on: September 06, 2022, 01:24:34 PM »
Tread carefully with your taxes. Soon they will arrive at your door with those very Armalite rifles that they want to ban.

Offline jleonard1967

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Re: Pat's Odds and Ends for sale
« Reply #18 on: September 06, 2022, 04:28:43 PM »
Very true.  You can buy $4 and $5 new comic books all day long and then can’t even give them away.  Pre-1980 is the name of the game.  Probably pre-1975 other than X-Men.
You would have 10-4 = 6 (taxable) as a hobby.  However as a business 10-4 (shipping) = 6 -1 (bag and board) =5 -5 for storage= 0 taxable this is how you can run it as a business. 

Offline jleonard1967

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Re: Pat's Odds and Ends for sale
« Reply #19 on: September 06, 2022, 04:33:03 PM »
Yes, and I think the challenge will be determining the cost of the items sold so as to offset the sales prices (net of ebay fees) and have the tax be on any profit.  Often we don't keep good records of purchase prices, or the item purchased will be an item we purchased in a lot and there will be no individual purchase price per se, so we'll have to "allocate."  The odds of getting audited are slim but still we need to have some reasonable support for a purchase price.  If you don't sell for profit and usually take losses there will be no tax consequences.

As an example of a challenge, what is the purchase price of a sketch card if it came with a set of Old School cards, for example?
You sell at shows, you in theory can claim as a business.  You just have to show reasonable costs on your items.  If you make a profit on an item, there is always expenses to offshoot them.  Just remember within 5 years you need a profit.  I figure that I will be sold out with in 5 years anyway.  After my account applied as she calls it "garage sale rules" I had a profit of about 1000.00 and paid my 270 dollars of tax on that.   

Offline jleonard1967

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Re: Pat's Odds and Ends for sale
« Reply #20 on: September 06, 2022, 04:35:56 PM »
So i sold a couple of comics last year. Key issues, slabbed books. I had kept a list of how much i paid for the books earlier, but had no receipts to prove it. I had bought them at a convention and slabbed them. I had $200 into the one comic, including the slabbing, and $150 into the other book, including slabbing. I sold the $350 worth of books for $1,200 (yay, Covid). That was in October/November….Fast forward to February, when we were doing our taxes…the Tax preparer raised a red flag, i think we got a 1099 or some such form from e-bay, showing the $1,200 in sales. Once i told the tax preparer how much i had paid fir the books, he said we can deduct that. But i had No receipts or proof. Could I have  lied and said i paid more, to minimize my taxable profit? I do see this year that this tear, e-bay wont let me sell a single item without providing my SS or tax id number, so they can narc me out to the IRS. There is simply no way to have a side hustle any more without Uncle Sam taking his huge cut. I guess i can always mow lawns…at least until the IRS gets wind of it…
I know that 1200.00 is a big amount however in the scheme of things that is small potatoes for the IRS to audit for.  Yes you could have claimed you owned them for more. (as long as you could justify it)  Flea markets us the same cost type basing. 

Offline RawGoo

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Re: Pat's Odds and Ends for sale
« Reply #21 on: October 09, 2022, 09:40:33 AM »
I added some more items to the original post, please check it out.

Also, if any of my prices are way out of line LMK, or make an offer. 

Offline RawGoo

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Re: Pat's Odds and Ends for sale
« Reply #22 on: November 24, 2022, 04:25:58 AM »
Anybody interested in a plush set of 12?  It is the large set with Ratz, Hawaiian Punks and Chock Full of Nuts and Bolts.  $120 plus shipping.