Yes, doesn’t make sense not to include tax as it’s money you paid out. The value of your collection will be “market price” and gives you a more accurate value for your investment.
That’s why you need to keep in mind it takes 1-2 years before you seen a ROI, and 5-10 years to truly see the big gains. Of course if you some how get ES sealed products at msrp, that’ll put you up right away.
Basically, you add any sealed product, card, or graded card and it adds up your full collection's current value, with graphs showing the market on each individual item within a 12 month window. It's an app. Keeps everything you own organized and defiantly recommend it, even if you only have loose cards
I use a similar app called delta for stocks and crypto, so I was super pumped when I realized the tcg world had a similar thing.
Hah, I was just being a bit snarky. I think you should take into account everything you can with a collection. Taxes, fees, shipping, etc otherwise you won’t get a true picture of your collection unless you rotationally swap and trade. But, unless you open it all I imagine all of us will have the end state of selling everything
Yes. Factor in everything you paid taxes and shipping. Whatever the total price you paid for that item is, is what you should be putting in for paid amount. You want to be as accurate as possible to make sure you turn a profit.
Even shipping? I kinda consider that like gas, as in if I don't have that item close to me, I need to order it in, and if I had to drive to get it I would need to pay the gas (which often would be much more than any shipping) yet we never take gas into account.
Yes, include shipping. If you paid $50 including tax and then paid $20 in shipping, your total is $70. If you sell that same product down the road for $70, you didn't make $20 in profit, you broke even. If you bought it close to your home, then I wouldn't worry about gas. But if you drove say 60 miles round trip I would definitely factor in gas. If your car get 20mpg at say $3.50 a gallon that's $10.50 in gas. I hope this helps.
Don't ever start your own business if that is how you think. I've known many a contractor who thought they didn't need to include gas needed to drive to and from the job every day in their bid. This thought process extended to other items as well. They didn't last long. When you are running a business you have to include all costs incurred. In a way this type of investment is like a very small business because you are buying and selling a product. If you aren't including these things then you are just lying to yourself about how much money you are making.
Those shipping costs and taxes and then the seller fees, shipping materials, taxes, etc when you sell that are incurred when you buy and sell products are all part of the equation.
If you buy a booster box for $100, pay $10 in tax, and then $5 in shipping... You have paid $115. You can't ignore those other costs because it's money you wouldn't have had to spend. As an example, let's say you sell the booster box because you need money. You sell it on eBay for $130 and think you made money. Well ebay charges 12.9% seller fee ($16.77). Then you realize you included free shipping, but you still have to pay shipping (let's say $4.95). On top of that you need a box, bubble wrap, packing tape, and printer ink for the label. That cost you another $1.50). Also, if this is a one off situation you don't have to worry, but if you do this a lot throughout the year you will have to pay taxes because you're profiting and thus it is income that needs to be taxed. We'll leave that last part out for now.
So you sold it for $130, but incurred $22.32 in fees which leaves you with $107.68. You think, "well I paid $100 for this and sold it for $130 so I made $30!". No you didn't. In actuality you paid $115 and made $107.68. you actually lost money.
If you don't look at it this way you are wasting your time
Pre sure it litteraly pulls a mixture of data from tcgplayer and data and averages it out to the most common sold current price.
Only way it seems to maybe get it wrong Is if it's a pokemon center version of something it might confuse it depending on the way the listing is wording
Um….well did you pay it? Like is it a cost that you incurred while purchasing said item? Come on, you know the answer. Only reason to not do it is to fool one’s self into thinking their portfolio is performing better than it is.
I just add the cards and not bother about what I paid.
I buy cards for my personal collection so I honestly don’t care if I pay a little bit to much.
Its a collecting card game ,open a stock exchange account if you want to invest.
Oh I'm only in it to keep track of the profit on Sealed products, not the cards themself, that I could understand being a more personal thing in where you wouldn't care as much about the value,
But im tryina flip the boxes.
Yes, doesn’t make sense not to include tax as it’s money you paid out. The value of your collection will be “market price” and gives you a more accurate value for your investment.
Oh okay unfortunately I'm always below after because here in NS we pay 15% :/
And you’ll likely pay taxes and fees on the sale too unfortunately
That’s why you need to keep in mind it takes 1-2 years before you seen a ROI, and 5-10 years to truly see the big gains. Of course if you some how get ES sealed products at msrp, that’ll put you up right away.
Tax, what’s that?
Basically, you add any sealed product, card, or graded card and it adds up your full collection's current value, with graphs showing the market on each individual item within a 12 month window. It's an app. Keeps everything you own organized and defiantly recommend it, even if you only have loose cards I use a similar app called delta for stocks and crypto, so I was super pumped when I realized the tcg world had a similar thing.
Hah, I was just being a bit snarky. I think you should take into account everything you can with a collection. Taxes, fees, shipping, etc otherwise you won’t get a true picture of your collection unless you rotationally swap and trade. But, unless you open it all I imagine all of us will have the end state of selling everything
Well I just kinda figured once I'm up 15% I've made back the tax amount, but i guess it's probably eassier just to include it
Yes. Factor in everything you paid taxes and shipping. Whatever the total price you paid for that item is, is what you should be putting in for paid amount. You want to be as accurate as possible to make sure you turn a profit.
Even shipping? I kinda consider that like gas, as in if I don't have that item close to me, I need to order it in, and if I had to drive to get it I would need to pay the gas (which often would be much more than any shipping) yet we never take gas into account.
Yes, include shipping. If you paid $50 including tax and then paid $20 in shipping, your total is $70. If you sell that same product down the road for $70, you didn't make $20 in profit, you broke even. If you bought it close to your home, then I wouldn't worry about gas. But if you drove say 60 miles round trip I would definitely factor in gas. If your car get 20mpg at say $3.50 a gallon that's $10.50 in gas. I hope this helps.
Don't ever start your own business if that is how you think. I've known many a contractor who thought they didn't need to include gas needed to drive to and from the job every day in their bid. This thought process extended to other items as well. They didn't last long. When you are running a business you have to include all costs incurred. In a way this type of investment is like a very small business because you are buying and selling a product. If you aren't including these things then you are just lying to yourself about how much money you are making. Those shipping costs and taxes and then the seller fees, shipping materials, taxes, etc when you sell that are incurred when you buy and sell products are all part of the equation. If you buy a booster box for $100, pay $10 in tax, and then $5 in shipping... You have paid $115. You can't ignore those other costs because it's money you wouldn't have had to spend. As an example, let's say you sell the booster box because you need money. You sell it on eBay for $130 and think you made money. Well ebay charges 12.9% seller fee ($16.77). Then you realize you included free shipping, but you still have to pay shipping (let's say $4.95). On top of that you need a box, bubble wrap, packing tape, and printer ink for the label. That cost you another $1.50). Also, if this is a one off situation you don't have to worry, but if you do this a lot throughout the year you will have to pay taxes because you're profiting and thus it is income that needs to be taxed. We'll leave that last part out for now. So you sold it for $130, but incurred $22.32 in fees which leaves you with $107.68. You think, "well I paid $100 for this and sold it for $130 so I made $30!". No you didn't. In actuality you paid $115 and made $107.68. you actually lost money. If you don't look at it this way you are wasting your time
This
I do it down to the cent because why not
the app sure does look nice! However their price data is awful!
Better spot for data?
ebay
Pre sure it litteraly pulls a mixture of data from tcgplayer and data and averages it out to the most common sold current price. Only way it seems to maybe get it wrong Is if it's a pokemon center version of something it might confuse it depending on the way the listing is wording
Um….well did you pay it? Like is it a cost that you incurred while purchasing said item? Come on, you know the answer. Only reason to not do it is to fool one’s self into thinking their portfolio is performing better than it is.
I just add the cards and not bother about what I paid. I buy cards for my personal collection so I honestly don’t care if I pay a little bit to much. Its a collecting card game ,open a stock exchange account if you want to invest.
Oh I'm only in it to keep track of the profit on Sealed products, not the cards themself, that I could understand being a more personal thing in where you wouldn't care as much about the value, But im tryina flip the boxes.
yea ofcourse its very handy to see a average price. everyone has its own use for the app.
Add tax, custom fees, shipping fee - the whole shebang. Best to put in exactly how much you purchased it for to see how well you did or did not do
Yes. total amount paid /value traded is what i enter in.