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  • Dollars or quids?

    Time for a clearout of stuff I won't miss that much for some much needed moolah by selling it all off on ebay with a Paypal only instruction... question is this: Do you think it's best to list the amount in dollars or UK pounds?

    I'm just wondering if converting the $$ will result in a crappy exchange rate plus Paypal's fee or their own exchange rate or whatever - does that outweigh the convenience and appeal for American buyers and maybe overseas buyers of paying in dollars?

    The other down point about listing in pounds is that Americans always seem to assume the price is US dollars - I had a nightmare selling my MPC cos of this (in the end I made it a UK only buy-it-now listing)

    Or is the issue so negligible that it doesn't matter?

    Opinions please and much appreciated...
    http://wakeupanddie.com
    http://weirdgearnyc.com
    http://makethingsmatter.com

  • #2
    Im not 100% sure but if you sell something on ebay it automatically gets converted into the local currency - ebay.com in $, .de Euro etc. So it doesnt matter about the conversion.

    The thing you have to state is that you only accept paypal in UK POUNDS ONLY!

    I cannot stress this enough. your pulling the money out to a bank and getting the user to convert the money saves you fee's. If you were selling to keep it in paypal then I would recommend keeping it in $. As its better for you this way.

    You might also have to upgrade your paypal account so you can accept paypal from credit cards. This is shite as you get stung really high charges to accept these payments (4%) I think. Which is why I banned paypal from credit cards. Im not paying for that shit no more.
    www.thesoundlibrary.net <- Changed URL

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    • #3
      Nick, on the occasions that I&#39;ve sold stuff on eBay, I&#39;ve always sold in £UK and my girlfriend sells alot of books on eBay too, always listed in £UK.

      It doesn&#39;t tend to cause too many problems itself as eBay does a rough translation on currencies.... it only seems to be the payment itself where problems can occur.

      Not wishing to demigrate our cousins across the Atlantic, but many US buyers do seem to have a problem with converting the &#036; into *anything* else, or understanding indeed that there are any other currencies out there. Not having a go or anything....just an observation in general.

      At least if you do an auction in £UK, you are able to more accurately predict what you&#39;ll end up with in your pocket.
      Matt Hero

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      • #4
        Thanks Serms. I think my Paypal account can already accept credit cards. But I might state that the buyer must pay 2% extra - meet the costs halfway like...

        If you ban Paypal from credit cards, then how do US buyers pay? Via debit cards I presume... Do you think this will put off bidders?

        Just caught your post, Matt. I know what you mean about US bidders and their constant failure to notice other currencies. Sorry US guys, I&#39;m sure there are exceptions, but it&#39;s mainly true in my book&#33;

        Maybe listing in &#036; and stating payment in £ will confuse even more...
        http://wakeupanddie.com
        http://weirdgearnyc.com
        http://makethingsmatter.com

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        • #5
          I allways sell in sterling. for you guys registered in UK its easy, for us outside uk, you just need to log into your account (ebay.com or .de, or whatever) from the ebay.co.uk

          I&#39;ve sold loads of similar records now during last couple of months - first in dollars and then in pounds, and I have to say, you get much higher bids when listed in pounds that its freaky. Dollar is just so low&#33;

          i&#39;d go for quids.
          er

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          • #6
            So then sellers in currencies other than the &#036;. How often have you had buyers mailing you to tell you that they thought they were bidding in dollars ?

            In one set of auctions I did a year or so ago (10 items), it occurred with 4 of them &#33;

            I should add that almost to person, US *sellers* are well set up for International trading. Can&#39;t remember a problem with any of them.
            Matt Hero

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            • #7
              Well looks like I&#39;m &#39;quids in&#39; for UK pounds then&#33;

              (i should apply for a job at radio 4, writing the witty links between comedy and news)
              http://wakeupanddie.com
              http://weirdgearnyc.com
              http://makethingsmatter.com

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              • #8
                Paypal use their own exchange rates, so whatever currency your account is in, make sure YOU do the maths before telling the buyer what to pay into your account. Or you&#39;ll find that paypal first shaft you for the 4% commission, and then shaft you a second time with their shite exchange rate. Apart from that, it&#39;s great  
                There MUST be a Hymns-A-Swingin' in this box...

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                • #9
                  Originally posted by [b
                  Quote[/b] (Mr Divine @ Mar. 04 2004,16:24)]Paypal use their own exchange rates, so whatever currency your account is in, make sure YOU do the maths before telling the buyer what to pay into your account. Or you&#39;ll find that paypal first shaft you for the 4% commission, and then shaft you a second time with their shite exchange rate. Apart from that, it&#39;s great  
                  Agree, but at the end of the day ordinary Joe&#39;s like myself would not be able to deal with Worldwide Credit card custom at all.

                  I don&#39;t like the Paypal sting but at the end of the day i still think it&#39;s a relatively small price to pay for the ease of international transactions.
                  SECRET RUSSIAN ROMANTIC GUITAR PSYCH BREAKS

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                  • #10
                    Originally posted by [b
                    Quote[/b] (Mr Divine @ Mar. 05 2004,15:24)]Paypal use their own exchange rates, so whatever currency your account is in, make sure YOU do the maths before telling the buyer what to pay into your account. Or you&#39;ll find that paypal first shaft you for the 4% commission, and then shaft you a second time with their shite exchange rate. Apart from that, it&#39;s great  
                    In my ebay listings I sell £GBP &amp; put a link into the currency converter I use so buyers do the quibble. Hey, that sounds like a dance....
                    CONVERT YO&#39; GREENBAX INTA DA QUEEN&#39;S HEAD INNIT
                    new SPOKE release: >>> SEE HERE <<< RKM LIBRARY BEATS

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                    • #11
                      strangely enough, no-one&#39;s got back to me saying &quot;uuh, i taught it was dollars.&quot; most of the buyers have been japs, whom i&#39;d presume are quite accustomed to beeing ripped of by uk-dealers (in sterling).
                      er

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