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 Replies: 29 / Views: 4,025 |
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Valued Member
Canada
299 Posts |
Lots of Canadian ebay sellers list their items in US dollars and many start the item at Canadian trend values (in US dollars as if our currencies are at par). This, of course, means that the exchange rates and what banks charge for foreign currencies etc. are pulling many items well over the Canadian trend prices. My tendency to boycott these sellers is getting proportional to the spread in currency!  If our dollar drops too much more the premiums, taxes and fees from icollector.com won't be much of a deterrent vs. ebay.  The 'make an offer' button helps somewhat, but it's too bad the sellers aren't able to clear a sale in the currency of the customers choice. Edited by trimble
01/24/2014 12:36 am
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Pillar of the Community
Canada
849 Posts |
What bugs me is that I see an estimated Canadian conversion but whenever I am highest bidder it always costs me a couple of percent more than the stated price.
I can see U.S. based sellers wanting U.S. dollars but some Canadian based businesses are selling in U.S. dollars. With the spread between the currencies I always now grab my calculator and total taxes, shipping, and exchange very carefully before I bid. I have let some Can. sellers know that I would bid from them more often if they were selling in Canadian dollars.
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Pillar of the Community
Canada
5324 Posts |
Paypal also robs you on the exchange rate.
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Pillar of the Community
Canada
4944 Posts |
Quote:
Paypal also robs you on the exchange rate. I have noticed that as well. They are making a killing with exchange rates. |
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Pillar of the Community
Canada
726 Posts |
yah a big seller trick to get more money out of yu.....I will join yu boycott..If you are a canadian in canada, and shipping to canada,,,,why not stay canadian even in currency.....
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Pillar of the Community
Canada
1005 Posts |
I sell Canadian coins in Canada for Canadian money. Makes good sense to me.
If I did sell in us dollars would I pay a fee to convert them to Canadian when withdrawing from PayPal?
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Pillar of the Community
Canada
1005 Posts |
ebay recommends selling in us dollars.
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Pillar of the Community
Canada
1192 Posts |
Yep. 2.5% extra above the wholesale rate on currency conversions when paying with Paypal. Or most Credit cards/bank transactions.
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Pillar of the Community
Canada
867 Posts |
The seller gets shorted on the FX, so does the buyer.....PAYpal and ebay continue to make fools of us all |
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Valued Member
Canada
129 Posts |
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Valued Member
Canada
386 Posts |
Banks make a nice 5% profit for acting as the go-between or broker in currency exchanges. They buy foreign currency from one person at a discounted rate of -2.5% and then sell the same currency to another person at a premium of +2.5%. Often this transaction is done within minutes at a physical bank or seconds online.
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Valued Member
 Canada
299 Posts |
Every time we buy something priced in US$ with CAD$ banks make a bit on the conversion. That isn't really the issue. What is kind of annoying is when a Canadian seller lists a coin, for example, trending at $1000CAD and places a start or buy it now price of US1000, which automatically jacks the price by $100CAD. I am guilty of buying coins listed in US dollars from Canadian sellers and, to be fair, some of the sellers are sort of pro-rating the spread in currencies to even the field. There are probably lots of reasons to want US dollars by a seller, especially if you are close to a border. But to many sellers this must be a pleasant windfall off-setting some of the gouging ebay and paypal inflict. tripoli is right. :) All the ebay, paypal and bank fees are just the side show as per normal. |
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Pillar of the Community
Canada
1823 Posts |
I've been selling on ebay over 10 years all my stuff is in canadian dollars, except for us money and coins. |
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Pillar of the Community
Canada
2124 Posts |
The problem is that you can't make the choice. I sell in U.S. dollars and that apply to all the buyers, included Canadians. The advantage of selling in U.S. dollars is that you get all the potential U.S. buyers.
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Pillar of the Community
Canada
867 Posts |
Then again, I remember collecting sports cards off ebay in the late 1990's and early 2000's when the exchange rate was 1.55+ |
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Pillar of the Community
Canada
1046 Posts |
46.00 usd nicely rolled off to the bank soon will advise exchange rate very best  |
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Replies: 29 / Views: 4,025 |
Posted 01/23/2014 11:31 pm
