Hey everyone,
I've been selling on
ebay for the past few months, but recently I registered for HST and I'm having trouble trying to wrap my head around how to run this business. I've had discussions with the Canada Revenue Agency and it is my understanding that unless I'm selling pure 99.99% metal I have to charge HST which makes me much less competitive on
ebay. So where I was happy to be selling before I have now grown skeptic in fear of taxes. I've called the refiners in Toronto and asked them about this and they told me that when I'm selling to them there isn't HST involved since they are buying the metal "based on purity". That sort of makes things ok but I still lose a little money since I can only sell to them for 95% of the spot price.
So what I'm really trying to figure out is what's the best way for me to sell gold, silver, coins and notes now that I'm HST registered? I don't have any private buyers as much as I would like some. And if that may be the answer than I'll ask what's the best way to get private buyers? I've sent my business cards with all
ebay sales but never had a return call, not even from my close by
ebay local sales.
The reason I find that odd is because I've been selling Canadian silver dollars on
ebay for 18.50 each and I send my card hoping that I can somehow skip the
ebay fees with a local buyer so that I don't have to sell so high and the buyer doesn't have to pay so much.
Thanks in advance for shooting me in the right direction! -headless chicken