Vinted

[Screwballs]

I love it, I have bought SO much for the pending arrival, but the offers are ridiculous. I have a mental minimum of £5 that I wont make a reduced offer on, bearing in mind peoples time to package and take parcel to wherever it needs to go, but I seem to be a minority. I have shoes with labels still on up for £4 and someone will offer me £3. Its £1 whole pound, pay it or don't.

Honestly, I'm at a point where even if its 50p request I'm rejecting it now. It really irritates the living poop out of me how desperate people are to get money off when the items are already so cheap.

Well it’s money back from everything I’ve sold that I’ve bought full price.

hardly anything is with tags, and it’s at a fraction of the cost i bought it new for.

I always put and offer in! If it gets rejected I then usually buy it anyway. Don't ask don't get!

@TheHeadOfTheHouse I think this is one problem with HMRC's guidance in this area. Technically most people selling anything second hand will have made a loss overall compared to original purchase price but may view the sales proceeds as "profit" because the alternative was either to bin/recycle the item or give to charity.

@TheHeadOfTheHouse I'm fascinated, do you have a major shopping habit? I sell on anything that I don't want/need but I really don't have that much!

I sell my items really cheap, so I rarely accept offers. But I find some people put the price far too high for what they're selling.

Like Lego sets, that they price for the same as you can buy them new (or you can find them cheaper if they are on offer), or new and unused perfume/skincare that is a tiny bit cheaper than buying from the shop (and when you add the delivery and Vinted payment protection, it turns out to be the same as buying from the shop)

Unfortunately yes, I do have a shopping habit 🙁

I also buy things, wear them once or twice and there will be an issue with it. For example: fabric makes me itch, neck too high up, it rides up etc.

i used to give my stuff away, but decided I would try and sell it nearly 18 months ago on Vinted and I never not have something for sale.

You can’t “view” profit a certain way - it’s factual. If you’re selling for more than your total cost of the item (purchase price + delivery charge, for example) then you’ve made a profit. If you receive less money from the sale than the item cost you, you have not made a profit - even if the alternative to selling was giving it away for nothing.

@Mnetcurious I know that (I'm an accountant) but I've seen several posts where people are saying they've made ££ on Vinted from a decluttering session, when in all likelihood whilst they've received sales proceeds they have actually made a loss.

I googled this yesterday, its 1k if business, up to 6k if reselling your own items, which obviously 99% of people are doing.

I was explaining why some people go to the effort of trying to knock off 40p. No skin off my nose who does what.

Where does the 6k come from?

It does not help matters when HMRC dish out incorrect advice on this - see the comment from HMRC Admin 21 on this thread: community.hmrc.gov.uk/customerforums/sa/da2a25ba-30ab-ee11-a81c-002248004b84

https://community.hmrc.gov.uk/customerforums/sa/da2a25ba-30ab-ee11-a81c-002248004b84

Snap 😂

But when people talk about ‘making’ money on Vinted they don’t usually mean making profit. Someone might say “I made £50 on Vinted last month”, they just mean I sold my old stuff for £50, not that they made a profit.

That post is really confusing. I understood it's 6k profit (not turnover) on one item that then needs cgt paying. It's not in relation to multiple sales at 1£ each.

You need to complete a tax return if turnover (not profit) is 1k but this doesn't include personal items being resold at a loss as otherwise everyone who completes a car sale at over 1k would be filling in a return.

To avoid this I list all my items on a Sunday morning quite early. I don't bother reading any notifications on my phone. I then go onto Vinted around 8pm and find that most of my items have sold for full price, so I don't need to deal with any offers. At that point, for anything that hasn't sold I just accept the highest offer.

Sunday is a great day to list :)

It’s not always an option - depends on what sending options seller has enabled.

I can afford lots of things, doesn’t mean I’m going to buy them if I don’t think they’re worth what the seller is charging.

Now more often than not I’ll just think ‘nah not worth it’ but if the platform has an option to make offers, why shouldn’t I use it?

@Mnetcurious you'd think so but this was a post from another thread on this topic:

"Profit is when you sell something for more than you paid to buy it, after taking into account all your costs to sell & post it etc."

Errr no it's not.

If you bought a dress for your own use and it cost you £50 then you sold it on Vinted for £25, you'd still be earning yourself £25.

You can't offset the cost of the item you have bought for your personal use, worn for 5 years then consider it 'selling at a loss'.

Because the alternative is you'd stop wearing it, give it away, and not make anything on it at all!

Oh dear clearly some people need a lesson in what profit means! I’d like to think most people understand though.

I buy quite a bit on vinted and have had sellers not sending and one even withdrew sale after accepting the asking price only to relist £30 dearer ( jewellery) so it can be just as frustrating for buyers! I've paid good money for some clothes that have arrived as if they've just been scraped off the bedroom floor 😮. It's good when it works.

I have seen some court shoes on vinted but I am a bit fussy about how much of my toes can be seen when I wear court shoes. I also like the sides of the shoes to be quite high so that my feet feel supported and not as though they might 'slip out'. AIBU to ask the sellers to post some pictures wearing them so i can see if they are likely tl be suitable, or does that seem like a weird request?

🤣🤣🤣

Hmmm... there are special websites for that, and high charges!

You can try though!

I've done that for a buyer before to show how high up some boots came, wasn't a problem!

I mean, I'd wonder what the point was of selling something for £4. Once you consider the time spent listing and posting the item is it really worth it?

I assume you do it because you need the money, and that's exactly why people try to get £1 off here and there, because THEY need the money.