EBay announces huge shake-up to fees after customer backlash and it's good for buyers
From today, the online selling platform is reducing the fixed amount buyers have to pay when purchasing an item from 75p to 10p.
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It comes just months after eBay first introduced fees for buyers purchasing from private sellers leading to fuming customers.
The new lower fixed amount applies to all buys excluding cars, motorcycles and vehicles, classified ads and property.
A new tiered fee structure will see buyers also pay an additional fee based on a percentage of the value of the item.
The fees will be included in the ticket price of the item.
This is how the new pricing structure works:
As an example, someone buying an item for £5 will pay a 45p fee on top, taking the total cost to £5.45 before postage.
This is based on the 10p flat charge plus 35p (7% of £5).
Someone buying an item for £1,500 will pay a £36.70 fee on top, taking the total cost to £1,536.70 before postage.
This is based on the 10p flat fee, 7% of £20, 4% of £280 plus 2% of £1,200.
CHANGES AT EBAY
Buyers purchasing more than one of the same item will only pay the 10p flat fee once.
EBay said it is launching a live calculator where shoppers will be able to enter the price of an item and find out what fees they'll be charged under the new system.
The platform is yet to confirm a date for when this live calculator will go live.
You can see how much the new fees will apply to you via www.ebay.co.uk/help/buying/paying-items/buyer-protection-fee?id=5594.
From August 6, eBay will also start paying some sellers more quickly.
Sellers who have completed at least 10 sales totalling £150 or more in the previous five days and have no more than two unresolved cases in the preceding 12 months will receive funds within 24 hours of sale.
This is instead of the current system where sellers have to wait until two days after delivery confirmation to be paid.
An unresolved case can include a buyer dispute where you didn't resolve the issue or a case where eBay ruled in favour of the buyer.
How to spot valuable items
COMMENTS by Consumer Editor, Alice Grahns:
It's easy to check if items in your attic are valuable.
As a first step, go on eBay to check what other similar pieces, if not the same, have sold for recently.
Simply search for your item, filter by 'sold listings' and toggle by the highest value.
This will give you an idea of how much others are willing to pay for it.
The method can be used for everything ranging from rare coins and notes to stamps, old toys, books and vinyl records - just to mention a few examples.
For coins, online tools from change experts like Coin Hunter are also helpful to see how much it could be worth.
Plus, you can refer to Change Checker's latest scarcity index update to see which coins are topping the charts.
For especially valuable items, you may want to enlist the help of experts or auction houses.
Do your research first though and be aware of any fees for evaluating your stuff.
As a rule of thumb, rarity and condition are key factors in determining the value of any item.
You're never guaranteed to make a mint, however.
How does eBay compare to rival platforms?
EBay is not the first online selling platform to move towards charging buyers fees instead of sellers.
Vinted introduced a buyer protection fee in 2016, coinciding with the removal of seller fees.
For orders under £500, this is a fixed fee of between 30p and 80p, plus between 3% and 8% of the sale price. Over £500 it is a flat fee of 3%.
Meanwhile, Depop introduced a buyer fee from April 15, 2024, of up to 5% of the purchase price, plus a fixed amount of up to £1 per item.
Vinted currently also offers a managed shipping option for sellers, which allows them to choose which carriers they would like to offer to deliver their items.
Buyers can then choose which carrier they want to use and must pay that fixed postage cost.
Depop sellers can either use Depop Shipping, which is provided by carrier Evri, or they can select "other" and pick their own delivery provider.
In terms of holding onto funds, Depop sellers are paid within 10 working days of any sale date or within two to three working days after delivery.
Meanwhile, Vinted sellers are paid within two working days of a "completed order".
This is when a buyer either confirms "everything is OK", or two days after the buyer gets their order but does not report any issues.
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