+- Woodnet Forums (https://forums.woodnet.net)
+-- Thread: Big Savings on Ebay for Veritas (/showthread.php?tid=7329471)
Big Savings on Ebay for Veritas - HomerLee - 04-13-2017
I've been thinking about ordering the Veritas scraper plane. Noticed one on ebay the other day so I thought if I could save $40 or so I would bid on it. Well, when I checked with about 10 minutes to go it had gone past $150 and ended at $159. With shipping added the buyer saved $6.40 over a new one from Veritas while free shipping is on. Purchaser saved less than 4%! And the final bid was an automatic bid so it may have gone higher.
Crazy.
RE: Big Savings on Ebay for Veritas - Strokes77 - 04-13-2017
I may be wrong, but I believe Ebay listings for LN and Veritas both sell for above list price at times. I think it is because some countries can't get them direct from the retailers? not sure. But it happens frequently.
RE: Big Savings on Ebay for Veritas - HomerLee - 04-13-2017
I bet you are right; doesn't make sense otherwise.
RE: Big Savings on Ebay for Veritas - EricU - 04-14-2017
someone must have done a tv show that talked up the value of hand planes, because it seems like there is a lot of collector interest right now.
RE: Big Savings on Ebay for Veritas - Admiral - 04-14-2017
(04-13-2017, 08:48 PM)Strokes77 Wrote: I may be wrong, but I believe Ebay listings for LN and Veritas both sell for above list price at times. I think it is because some countries can't get them direct from the retailers? not sure. But it happens frequently.
Foreign buyers have to pay VAT (value added tax) on new retail purchases, its like a national sales tax, somewhat similar to what is now being proposed as border adjustment tax reform here in the US. It is not an insignificant amount. For example, look here at the same scraper plane:
http://www.axminster.co.uk/veritas-scraping-plane-701915
which we can buy for $179, is selling in the UK for GBP161.75 including VAT (@exchange rate of 1.25, that is $202) and note that without VAT its GBP134.79 ($168). Now, the US dollar has gotten much stronger against the Euro and the Pound has declined in value lately due to Brexit uncertainty, take the exchange rate of 1.41 just a year ago, would have put that plane at US$228 including VAT. So we may see less of this VAT driven bid inflation as time goes on.
OP may be right that buyer was crazy, don't know if it was a domestic buyer, but the VAT does make a difference to foreign ebayers.
RE: Big Savings on Ebay for Veritas - AHill - 04-14-2017
I checked eBay listings for sold Lie-Nielsen planes and in every single case they sold for less than new. Most sold for around $50 less than new. If one sells for more, it's either a special edition or the buyer is unaware of what a new one would cost. It doesn't make sense that an informed North American buyer would pay near retail for a used LN or Veritas plane.
RE: Big Savings on Ebay for Veritas - Arlin Eastman - 04-14-2017
Two things I think can and does happen
1. Buyer just can not stand to lose a bid
or
2. Buyer had the auto bid up high thinking it would not go that high or to discourage other bidders.