Yea I see your point but what is the difference if that $5000 sled sells for $4500 and that is what the seller gets (and the buyer pays $4950)or the seller pays the commision and the sled sells for $5000 and the seller still gets $4500. They still get there commision. I as a buyer don't like buyers premiums either but as long as you don't spend more then you intend to and adjust your price it all works out. As far as the sales tax at all michigan auctions if there is a registration there is sales tax. Cars, bikes, toys, trailers....
Crashedtoys.com prices?
- Thread starter wi_sledneck
- Start date
Correct me if I'm wrong as you've been going there for a while. But when the seller was paying the fee's there was a $300 cap and now that the fee's have gone to the buyer there is no longer a cap. Had I noticed this I would not have brought a sled down with a $9,000 reserve. On the cheaper units it probably will not be affected but I dont think you'll be seeing much late model clean stuff going through and selling.
Chad@M&M
Chad@M&M
snobuilder
Well-known member
Is the sales tax applied to the sled price + the 10%? If so, it will generate more state sales tax revenue, paid by the buyer, whereas if the 10% is paid as a commission to the auction house,by the seller, no sales tax is realized on the commission, correct?
CHAD, do you have these sleds listed for sale on the net?
CHAD, do you have these sleds listed for sale on the net?
Last December I went to the auction intending on a buying a sled. I assumed that there would be deals to be had at the auction - after all, if you couldn't get a deal, why take a chance on a sled that you only get a chance to look over for 15 minutes or so? But it seemed like prices were high. There weren't that many sleds for sale, and the audience was standing room only, so it probably was a seller's market (which surprised me, given the economy). I didn't end up buying anything.
I forgot all about the $300 cap. It was last year when I sold my last sled there. And if I ever got $3000 for one of the ones I take there I would be really happy anyways!! Everytime I have ever been there it has been standing room only. Usually the one with the most sleds (at least in the newer auction ring) are the Jan, feb march auctions. Don't have any idea on if you pay tax on the comission or not. Good question though.
My son purchased a sled there last year for parts and did get a good deal on the sled until he had to Pay an extra 180.00 for handeling and misc. stuff. He was aware of that but didnt relize that it was a % of the sale,still made out allright. Past experience with crashed toys is that if it is anything really good you might as well forget it, too many salvage dealers that are willing to overpay. The best thing to do is to be in their office for the last few minutes of the auction,that will give you a leg up on the bidding compitition. Also they have in the past had items you can buy outright usually are not advertised but doesnt hurt to ask.
arcticgeorge
New member
Try Toysalvage or Recreational Salvage.com
Yes you do pay sales tax on the buyers premium- this is straight off there web site.
BY MICHIGAN STATE LAW:
6% Michigan sales tax is charged on ALL purchases (including the buyer's premium) from all buyers unless you have A COPY of your business sales tax license with you. No exceptions! Bring a copy of your license as we must have a copy of your tax license on file here.
BY MICHIGAN STATE LAW:
6% Michigan sales tax is charged on ALL purchases (including the buyer's premium) from all buyers unless you have A COPY of your business sales tax license with you. No exceptions! Bring a copy of your license as we must have a copy of your tax license on file here.
600.00 is a pretty high buy back for a 8-9 year old 440. Whats a non-wrecked one worth 1500? Im sure it will bring close to that at auction.
It wasnt all that many years ago you could buy back 700-800cc current year sleds for around a 1,000. then the auction sites were born and that number went to 3-4,000. It sure didnt make our insurance premiums any cheaper. Must be too many sleds getting "totaled" these days.
It wasnt all that many years ago you could buy back 700-800cc current year sleds for around a 1,000. then the auction sites were born and that number went to 3-4,000. It sure didnt make our insurance premiums any cheaper. Must be too many sleds getting "totaled" these days.
it's got to be. Insurance told me my seld was worth, not get this.... $2500.
they said it was based on market prices...what?<font color="ff0000">•</font><font color="ff0000">•</font><font color="ff0000">•</font><font color="ff0000">•</font><font color="ff0000">•</font><font color="ff0000">•</font>? I was hoping to get $1000 for it, really.
they said it was based on market prices...what?<font color="ff0000">•</font><font color="ff0000">•</font><font color="ff0000">•</font><font color="ff0000">•</font><font color="ff0000">•</font><font color="ff0000">•</font>? I was hoping to get $1000 for it, really.