(Topic ID: 75859)

EBaying a pinball machine


By Jasontaps

5 years ago



Topic Stats

  • 8 posts
  • 7 Pinsiders participating
  • Latest reply 5 years ago by mmarcade
  • No one calls this topic a favorite

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    #1 5 years ago

    Has anyone ever sold an arcade game or pinball machine at an auction before?
    If a machine sells for $8000, do you have to pay taxes on that?

    #2 5 years ago

    you might want to ask the auction house the question. Some variables - what state? What will the auctioneer charge? Will the auctioneer allow a (barf) buy-back or can the pin have a reserve?

    Good luck with the auction

    #3 5 years ago

    The fees vary but you can expect to pay 10-20% depending in the auction house. Like rad said, it is different everywhere. Some will allow you to buy it back for a small fee, some will not. A reserve will cost a small fee if is does not sell, some will charge nothing if the reserve is reasonable.

    #4 5 years ago

    Bring it to the Zoo show auction and you get it all, cash money in your hands and no fee's of any kind for the seller or the buyer.

    John P. Dayhuff
    Battle Creek, Mi.
    269-979-3836

    #5 5 years ago

    Auction game sales take 10% with a max of 100.00. If it sell for 90.00 they take 10% if it sells for 9000.00 they take 100.00. Cash in hand at the end unless you sell a ton of stuff then they pay by check. Really stand up people.

    #6 5 years ago

    Thanks for the answers guys.
    The root of my question had to do with taxes. State and federal.
    I found the info on ebay.

    #7 5 years ago

    His question was tax not commission. You are legally obligated to pay capital gains, of which collectibles are in the highest class. So if you payed 5000, put another thousand in it your basis would be 6000 so you would have a capital gain of 2000 and a tax obligation on the 2k. That being said the auction house won't with hold it and you are sort of on the honor system.

    #8 5 years ago

    What auction did you list your pin in?

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