Payment and Fees Changes
Starting February 4, 2025, eBay has introduced significant changes to its payment and fee structure. Sellers will now receive payments 48 hours after the buyer confirms delivery, a shift from the previous system where payments were released a day after purchase. This change aims to enhance marketplace security. Additionally, eBay has introduced a buyer protection fee of $0.75 plus 4% on the first $300 of an item’s cost, and 2% on the portion between $300 and $4,000. This fee is intended to cover buyer protection services.
Seller Recommendations
eBay has advised sellers to use quicker delivery services to mitigate the impact of delayed payments. Sellers are also encouraged to adjust their pricing strategies to account for the new fees. For instance, some sellers plan to keep their prices the same but increase delivery charges.
Business Policy Updates
eBay has redesigned its business policies page to simplify the management of selling preferences. Sellers can now more easily access and update their business policies.
Enhanced Tools and Features
eBay has introduced new tools to help sellers grow their businesses. These include a new buyer details feature to identify returning customers and send them coupons, and improved feedback organization to attract more buyers. Additionally, eBay has expanded its eBay Standard Envelope shipping option to more categories, providing better shipping value for small, lightweight items.
Compliance with IRS
eBay, along with other platforms like Vinted and Airbnb, will start sharing data on earnings with the IRS starting February 2025. Sellers who make more than 30 sales or earn over $1,700 in a calendar year will have their data reported.
These updates aim to enhance the selling experience on eBay while ensuring long-term growth for sellers. Sellers are advised to stay informed and adjust their strategies accordingly to navigate these changes successfully.
