eBay 2024 Summer Seller Update - Good, Bad or Nothing?

Ebay recently announced their 2024 Summer Seller Update and the first question that comes to mind is "how does that affect me as a seller?" In this video I cover the key points from the update on the fly without knowing myself what these changes are. Are these changes going to be big or small? Will these changes be good, bad or just simply nothing.... Join me as I go over the key points from eBay's Summer Seller Update announcement!
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[@sdillon4605]

Don’t tell eBay your cost of goods. They can use that data to calculate how much they can squeeze us for to find our breaking point. Remember they constantly talk about growing ad revenue aka raising fees, they want to know what the maximum they can leave us with before we quit. If anything double that cost of goods number, or use a secret multiplier, so that they think you are making less than what you are. I guarantee you that they want this data so they can use it to get more money from you.

[@TheOemGuy]

I like your answer, I agree 100%

[@debk3135]

Great point

[@Oceanbreeze3770]

I don't even care about updates. Sales are dropped to nothing this summer. The worst summer since I started selling on ebay 17 years ago.... horrible.

[@TheJoshGalt]

yep

[@silverfoxfinance]

What do you sell?

[@Oceanbreeze3770]

@@silverfoxfinance Literally anything that I can make money on. The problem there is no traffic and weird exposure ebay implemented a few years ago.

[@dawnsreviews7205]

The whole seller experience stinks now including sales. I do have a store too.

[@versatileduplicity9313]

Yep. I hate this month. Every damn year, in june. July is better

[@PeddlingProfits]

We would never tell ebay or any other platform our cost of goods, period! Writing is on the wall if you do, geeze a wheeze

[@silverfoxfinance]

Definitely going to keep costs of goods away from corporate eyes.

[@anytimepicker]

Good job Jon. Good thing nothing on ebay glitched while you were on their update page during this video :))))))))))

[@FlippinAintEasy]

Not yet…

[@christeneotoole3841]

I use my IPhone for nearly all of my eBay business. I am so happy about all the features added to my listings and to the IPhone so that I can make many changes without having to open the computer. That is a big improvement for me and, I am sure, other I Phone users. It saves a lot of time. Thanks Jon for reviewing these changes with us.

[@silverfoxfinance]

Same here, have even seen my listing disappear while waiting for payment on a best offer.

[@bajuracan]

Entering the COGS is a great idea, there’s an eBay seller who created a great app for this too but now if it’s in eBay - Everything is in one place so it’s way better than having to have a seperate excel sheet. So this is good.

[@Kens-bin]

Thanks for going over this . I don't have the time but can earbud and listen

[@silverfoxfinance]

Same same

[@lewissparinlitz4192]

You really want eBay to know the cost of your goods of course they won't use that information in any way to their advantage hahaha.

[@FlippinAintEasy]

Not everything is conspiratorial you know…

[@crystalcole888]

​@@FlippinAintEasydude... You don't tell a company like eBay what you paid for your goods... If you do, it's your funeral.

[@lewissparinlitz4192]

@FlippinAintEasy even at the point when gas was coming out of the chambers to kill a group of people some in the group what happened saying oh look they're just giving us a steam bath. Because some maintain a state of denial up until it's absolutely too late.

[@benelleliv]

Great content buddy boy. Keep up the exhaustive work!

[@Dino-63]

On them changing “selling an item isn’t a binding contract until paid” if I had to guess this has a lot to do with hi dollar items like eBay motors and selling cars a lot of people are misrepresenting vehicles and when the buyer goes to pick up they back out. As far as cost of goods this will help people who are buying individual items to sell for us bulk buyers where we have next to nothing in an item except our time it’s irrelevant plus I wouldn’t give eBay that information some how they will use it against you

[@bdubs8620]

I buy storage units auctions. Cost of goods would be difficult.

[@biffboffo]

The market doesn't care what your personal COG is. The price is going to be the price. I do think it's nice to track all data, but assuming you priced your item appropriately through research, then the COG loses its relevancy and the most important consideration becomes HOW LONG you've had the item. I put my listing date in the SKU so I can preserve that data after doing a store reset. If you pay $1 for an item that has a solid track record of selling for $100, then you don't take $60 the day after listing just because you'd 60X your money in that instance. You might take $60 after three months, but you should also be asking yourself why you've had to settle for less than the market price.

[@FlippinAintEasy]

Your example is extreme. I just listed an item for $90 that I bought for $1. If I get an offer today for $60 I’m not taking that price but let’s say this item has been sitting around for a few weeks and I’m running low on space for other inventory coming in I would consider it but I need that data to know how low I am comfortably willing to go. This is where every seller has to evaluate their strategy. Biff, you sell small items where space is not at a premium as compared to my situation. So in your world you can comfortably hang on to an open for months in end without any impact to your business. And that makes sense. For my situation this is the last thing I want to do when I source an item due to my situation. Bottom line, there is no size fits all. What makes sense for you may not make sense to another seller.

[@biffboffo]

@@FlippinAintEasy I agree. But what if you paid $50 for that item? I know you don’t get yourself into that type of situation, but just pretend something weird happened and you somehow ended up stuck with a bad buy. After a few weeks, you should still take that $60 offer, even though you might even be losing a little on the transaction. After all, the need for space remains the same whether you are into that item for $1 or $50. Holding out for $90 just to not take a loss might mean that item is in your way for another year. That feels like an emotional decision tied to pride.

[@Wendy-il3lu]

There was a new ebay ad on your video that was targeting the Y2K fashion trend. It wasn't half bad. It pointed out, like they used to in their old ads, uniqueness of products on ebay. It's a step in the right direction. 🎉

[@tommyebay]

TY Jon!

[@themadscientist40k]

Almost as exciting as tax time

[@michiganprospector8209]

Wish ebay allowed ‘unknown print date’ in catalogs and manuals listings. Now have to pick a date or leave blank no opportunity that works to do no print date. As soon as listed it shows up in the listings needing updates. Wants a print date but don’t know the print date. I have to switch from iPhone to computer to get the opportunity to check don’t remind me of this again box. Wastes a lot of time and doesn’t matter if I do the listing entry on computer still same problem.

[@mayakoyama9130]

Since they listed the payments on auctions I might as well chime in- I've been running a lot of auctions lately for my anime collectibles and every single one of them has had automatic payment come through at the end of the auction. I really like it! The only potential issue I could see is if you have one person winning multiple auctions but for that I've just refunded the overage in shipping when I print the label. The only thing I wish with auctions is that there was a way to auto extend the auction if people are bidding at the last second? I've had a lot of bidding wars and I've literally had buyers messaging me upset they lost the auction because they wanted to pay more but the auction just happened to time out while they were putting in a bid. I know that's a thing in whatnot where it extends the auction 10 seconds after the last bid. I guess it adversely affects me too since I have people willing to bid them up more.

[@FlippinAintEasy]

Popcorn bidding would be useful for sellers but might upset buyers.

[@semperfi-1918]

Sales for me are overall up.. goy another return. But I'll sell it again.

[@calidebs950]

Thanks Jon. Seems pretty basic. I already see the changes in my seller hub today.

[@GMOVER1]

In business the only danm people you tell what you paid for your cost of goods is the IRS period. 😂 Jesus christ! Ebay giving people tools to hurt themselves with.

[@kevinboblitt1869]

Has anyone else noticed the change with offers? Before when I would accept an offer from a buyer, it would go back to the buyer for payment. Now, it goes back to buyer and they have to accept the offer again? I know I have lost several sales with this change. Has anyone else noticed this change?

[@MdbCoin]

From my experience using offers as both a buyer and a seller, if the buyer initiates the first offer and the seller accepts, it charges them automatically within a couple minutes. If the seller sends an offer first, the buyer can accept without paying immediately. If the buyer counter offers and the seller accepts, it seems like they still have a day or two to actually make payment.

[@MrNpgray]

Yes, this has happened to. Me several times

[@catwhisperer968]

Again as long as they do not up date stuff during 4th quarter

[@doloresmiller6956]

❤❤❤❤

[@xds36x42]

If the agreement isn't binding does that mean if after a hour it isn't paid for we can cancel without punishment?

[@FlippinAintEasy]

Sellers will always be held to a higher standard

[@GillGDundee]

Horrendous like 5 sales in 1 week versus 15 -25 sales daily .since middle of may sales have dived

[@gaylecarson3288]

If you choose the yearly plan does Ebay take the fee for the whole year out? Thats what I am assuming will happen

[@FlippinAintEasy]

They give you a discounted monthly rate (so you arent paying it all up front) but you are on the hook for a year if you cancel.

[@librasun123]

eBay plays games! Had two views on a pai of boots all month. Then views changed to one! Sent an offer to a watcher, it usually shows that offer was sent for two days. Nope, some offers not shown, next day it says send watcher an offer. The view count will jump from 9 to 45 in just a couple hours!?!? Some have no views, then shows one, then two days later back to zip. Listed a pair of slacks with really low price because they had "issues" the price on the listing was NOT what I set it at, it was what eBay suggested price was before I put my price on the item. I efit every photo. I went and lowered some 20 listings to lower prices from what eBay suggested cause after 15 views no one buys. Many photos on those listings DID NOT get edited apparently because labels were upsidedown and not cropped to make them readable to viewers! I am sick of notice to add details on swimsuit bottoms when your only selling a flipping tankini!! AI descriptions are a run on sentence joke, teach that idiot program grammar and punctuation! Lastly when funds are finally available waiting four extra days to get them is making me want to take the whole thing down and just do yard sales. They are sitting on our money by the millions and collecting interest off us in addition to all the hyped up fees!!

[@happyreality244]

Curious do you accept all payment? I was ony taking pay pal

[@FlippinAintEasy]

Yes. I’m not aware that we can block a specific payment type as it is all processed through eBay’s payment processor.

[@AK36677]

I wouldn't recommend anyone sell on eBay anymore.

[@hustlenlow2046]

Yeah, eBay will do whatever it takes to get you to raise the percentage you’re giving them while lowering your prices, they’re all on board

[@BeachBarnThrifts]

I sure wouldn't want to give cog to ebay. That's just what their greedy hands would love too much. Lol!

[@AK36677]

eBay is dead and dying. Their algorithm has ruined this site. I plan on closing shop by the end of this year after 15 years.

[@katepickrum6976]

Thanks Jon. Did you do a video on how to get the seller hub to come up on the eBay phone app? Lemme know if you need info to share it, I could email you.

[@FlippinAintEasy]

Send me an email. I want to see if what you have is different than what I’m seeing. Thanks.

[@katepickrum6976]

Just sent the email

[@lisakay6742]

I just go to help type in hub and it gives me an instant link to get there in the app.