Friend says I'm a "del boy" aibu?

[sallypallu]

Trying to make a bit of extra cash
I started looking on eBay at what's popular and noticed people were interested in Halloween items.
I bought some Halloween mugs from Poundland and listed them for £5 and all 4 sold.
I listed a candle from tk maxx for £10 and it sold and I only paid £4 for it.
I sold some boots I got last year in sale for £15 and I got them for £7
So far I've made £160
My friend thinks it's a bit cheeky
Is it?
Am I in the wrong?
Would you continue doing it ?
I state in the listing the brand etc so it's not like I'm not being upfront

Luvly jubbly

It’s not cheeky. It’s literally what every retail
business does; but something at one price and sell it for a higher price. You’re not misleading people about what the item is.

*buy something

You're an entrepreneur. Your friend sounds envious. I don't know why people always think they're getting a bargain if they buy on eBay. But anyway, as long as you're upfront in your description then you're providing a service and you should keep going.

It’s what every retail business does, except the part where the businesses would be paying tax on their profits. As I understand it, eBay and tax rules are different if you are a trader buying stock to sell than if you are an individual selling off surplus possessions.

Your friend is a plonker

She'll be laughing the other side of her face when, this time next year........

If you feel good about it and still get a good night sleep ....

I couldn't. I wouldn't.

But it isn't like you're lying in your adds. You are just ripping people off. Not my style.

Nothing wrong with that , you aren't lying .

He who dares...

I'm torn between thinking that you're ripping people off and thinking that they deserve it for being stupid enough to pay inflated prices for a bunch of tat.

I paid £5 to park in a town centre last week. If I had paid £4 for 4 mugs, then it would cost me £9. If you are selling them for £5 plus £2 p&p, I'm saving money. People will be buying them from eBay for a reason.

More fool the people that buy from you. If you are upfront about there they come from eg a Poundland mug then I would think you are a bit cheeky selling that for a profit but if there is a market for it then fair enough on you for exploiting that

I wouldn’t buy it but obviously others are

She sold them for a fiver each

This is true, but doing it frequently, with the intention to profit (as a shop does) means that this becomes a taxable trade in the eyes of HMRC. Are you declaring your earnings OP?

If I buy with the intention of keeping them for myself then later decide to sell as I've changed my mind ...then I don't think I need to declare anything
Also from what I'm aware you can sell up to £1,000

Poundland would be selling them at a large enough profit anyway.
OK, they have more taxes and overheads but they rely on the footfall and for customers to buy lots of other items at the same time. With you it's more honest in a way. Selling a single item.
If it was broken or stolen then she has a point.

Do you think she is jealous?

That’s not an insult. People love Del Boy.
Caveat emptor.
You have connected people with something they want at a price they are happy with. Power to you.
Should you pay tax? Possibly if you reach a certain level of income. Are you there yet? Probably not. But good luck. If you can make a living this way, I salute you. if you can make a bit extra to get by, again good luck too you.

only if Tescos is cheeky

you are running a business

Loads of people do the same sort of thing on eBay

This is called Retail Arbitrage and it’s helped me build a six figure business (VAT registered now) …. Keep at it, just do more of it. Pets is a great niche at the moment. I prefer Amazon over eBay but doing both increases your revenue.

Cushty

Well anything you make from selling things forms part of your income so yes you do need to declare it.

It just gets added to whatever other money you make (minus expenses like postage), and once you are over a threshold, you pay tax

Whether you originally intended to sell them
matters not at all.

Obviously if it’s just a couple hundred quid a year, it’s not likely any one will take much interest

🙄

The OP is running a perfectly normal business. Coffee has an epic mark up, is everyone that sells coffee ripping people off? People who buy from eBay do it because it’s convenient, they don’t want to be arsed going to Poundland. Don’t be so smug.

Big business, buy cheap then markup the profit, expenses ect, @sallypallu if the business can do that, why not the public.

That's not what you are doing though, is it?

It's fine to make a profit, but you should be declaring it and paying any tax due.