Originally Posted by glove72
There are no rights in the free market...there is no Occupy Nike...
And if you are selling your own personal property you are not a company, you do not need to file taxes. You paid the tax on the purcahse. No different than selling a ring a the pawn shop.
If you are selling your property, and the acquisition of said property was for the express purpose of realizing a profit, then the purchase and sale of that "property," which heretofore was the ostensible "private hobby," is going to appear "business like" in the eyes of the IRS.
You ever heard of a capital gain, friend?
There are also things that the IRS considers "de minimis." The fortuitous transaction wherein a pair of Chutney XIIIs are sold is not going to implicate any IRS scrutiny. However, if you're buying Jordans to sell at a profit, you're in the business of buying and selling goods and should be treated no differently than a brick and mortar retailer (for tax liability purposes).
My bona fides on this: Federal Taxation class - second year of law school, run my own business (Engineer), brother works for SEC.
The whole re-seller thing is beautiful actually. It's 19th century American capitalism at it's best. The **** is full scale Horatio Alger myth at it's purest (Horatio Alger - incidentally, my name on that *other* shoe website). Resellers have created an artificial market (eBay) that people reflexively look to when their normal spots are tapped out. But if you put in just a little leg work, you may find some collecting dust in the most unexpected places (*cough* Nordstrom, ****'s, some department stores in wealthier counties [where I know for a fact that a size 14 still sits un-purchased]).
You have to be complimentary of folks who are willing to work angles, put in the time, effort, and preparation, to do anything better and more efficiently than the next guy. If they want to capitalize on that determination or other's lack of creativity, far be it for me or any one else to fault them. They are only satisfying a commodity niche and charging you a premium for their energy and effort.
And the demand is driving the price, not the reseller. Supply has gotten progressively better, but that hasn't assuaged the thirst. There are thousands of unclaimed XIs sitting on ebay and Craigslist that are still being purchased for $350.00. The only "supply gap" is with respect to what can be ascertained at retail.
I live in NWDC. I knew that I wasn't getting them in DC, MoCo, PG, et cetera. So I drove to a department store in a small college town in VA, 150 miles from my house, to buy them. I went back the following day and bought the size 10.5 because they still had a few sizes left. Look around, you may be like me and find a size 11 Concord sitting around three weeks after RD.
But yet people are paying $350+ on eBay. SMH.
Deepvoice: YEA! (that's for the mods)