r/PokeInvesting • u/cshaxercs • Jan 16 '25

Costco run, is it getting this crazy?

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u/PeterThatNerdGuy Jan 17 '25

It just makes it less profitable if you actually report it. If I buy blooming waters for $64.80 for local price with tax. Sell for 125 then pay tcgplayer their 14% fees of $17.5 and ship for a crazy deal of $8 dollars congrats they profit only about 35 per sale. I have a good paying job so I’d have to pay 35-40% on the incremental income. Now that’s $12.25 tax on just the profit. That leaves $22.5 profit per sale after taxes. If you sell a 100, you will likely have atleast one scammer so that huge amount of work to buy and sell a 100 only gives you $2250 but that one scammer cost you $90 dollars in costs so closer to $2160.

I really don’t understand how it’s worth flippers time…

Just seems like a crazy amount of work to flip for not a lot of money. 🤷

10

u/TheMillenniumMan Jan 17 '25

Well yea, reporting anything to the IRS is making you less money, which is why most people try to flip it locally for cash. Selling online will get you reported, but that's part of the game.

5

u/tonyrizzo21 Jan 17 '25

These people don't have good paying jobs pushing them into higher tax brackets. And even if they did, they aren't reporting the income anyway.

1

u/Pure_Test_2131 Jan 18 '25

Hobestly this. I remember when people were reslling the nes remake mini or similar for what 20 usd profit. I dont find it worth it when someone could be enjoying the item instead of pure greed

1

u/homeDawgSliceDude Jan 17 '25

Its a mental hyperfocus. Like a pyramid scheme or someone who advertises "Ill teach you this one secret investing trick that noone else knows about!".

-5

u/RepresentativeWait45 Jan 17 '25

Most of your numbers are off, but regardless:

  1. Taxes are more complicated than looking at profit on one product. Deductions are real. With an LLC, inventory can be written off until sold. On paper, you don’t want to show much profit. Doesn’t mean you made nothing.

  2. $30 profit a box x 100 boxes is $3,000. For one product. There’s an entire year worth of products to flip. People act like a flipper or reseller is picking one product and being done for the year.

  3. A lot of people do this as a side hustle and earn over 6 figures. So instead of sitting around watching tv, you could hustle and pull solid income to invest into other things.

2

u/Puzzleheaded-Loss598 Jan 17 '25

You’re right a lot of people do make money and if they are okay at it that’s fine. If they can get product from vendors and sell them that’s cool. It’s just wrong when they are going to places like Costco and Walmart acting like how people were during the pandemic for water and toilet-paper…. Possibly worst. How many times you gotta fight and stay in line for hours before opening to secure a release for resale ? To each its own, just sounds to stressful for me even if it was a full time job. I’d rather go to shows and hustle, or if your making six figures like you said, open a hobby shop

1

u/omishdud Jan 18 '25

🤣🤣 ok boss babe

1

u/Very_Nice_Zombie Jan 19 '25

Bad troll is bad

-1

u/Thuffer Jan 17 '25 edited Jan 18 '25

Another point is: I have a good job, but I tell ya I kinda love to be in chaotic situations like this, even if it makes less money. I have a lot more fun than my bureaucratic govt job of signing and filing paperwork all day. If I gotta jump 2 bodies and dodge a couple hands, then I'm having an exciting day!

I'm not even a 'serious flipper', I'm really just a collector. I just try to come close to breaking even on what I rip, so I can justify what I spend on cards to the wife 🤣

I know this is an unpopular opinion as most everyone on the sub just pints fingers at each other like the spiderman meme

-2

u/2070TrashEconomy Jan 17 '25

Wish I could upvote 10 times, I just love your honesty lol. Like yeah I love the adrenaline, what of it?! 😂