#31
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I think this store is going downhill fast... When they first opened, having bought out another long standing guitar and sound store, they had a lot of incredible instruments. They had Fender Custom Shop, Suhr, Tyler, National and others, and some really nice used instruments on consignment...
.... Now... this store is filled with mostly cheap Eastwood (not EastMAN) guitars with a few better leftovers from before. I put the Gibson LP there because they specialized in electrics with virtually no acoustic guitar except for a few cheapies. When I placed my guitar there almost two years ago they were a completely different store. So, without naming the store directly, I've given enough information that you should be able to spot who they are almost the moment you walk in the place. They must need the extra $50-$100 more than I do to try to cheat me by charging commission on tax. And no, I will never do business with them again. But for $50 they've also created an enemy. I hope the owner thinks it was worth it.
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#32
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How much do you think you would have gotten for it if you had sold it on Craigslist, or sold it to Guitar Center?
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#33
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Consignment is worth no more than 10-15% IMHO. Yes, you got hosed, especially with the tax situation.
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#34
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Vin, do you mind telling us what you netted on the deal? How much did you receive from the store, net of their deductions? Not trying to trick you, I just want to understand better what happened.
PM me if you prefer?
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John Brook ‘Lamorna’ OM (European Spruce/EIR) (2019) Lowden F-23 (Red Cedar/Claro Walnut) (2017) Martin D-18 (2012) Martin HD-28V (2010) Fender Standard Strat (2017-MIM) |
#35
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Quote:
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Jim 2023 Iris ND-200 maple/adi 2017 Circle Strings 00 bastogne walnut/sinker redwood 2015 Circle Strings Parlor shedua/western red cedar 2009 Bamburg JSB Signature Baritone macassar ebony/carpathian spruce 2004 Taylor XXX-RS indian rosewood/sitka spruce 1988 Martin D-16 mahogany/sitka spruce along with some electrics, zouks, dulcimers, and banjos. YouTube |
#36
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He charged you 25% of the $200.00 tax collected? I wonder how much he would have charged you if he had collected $200.00 more for shipping?
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#37
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The consignment percentage seems a little high, but always can vary by locale. 15% to 20% seems pretty standard around here. I am in agreement that taking a percentage of the sales tax does not seem kosher. As to waiting for 3 months to pay you, well... Most shops will have a delay, in case the transaction goes south for some unforeseen reason. But 30 days not 90.
If you do not have a written contract spelling out the terms, then you are not really in a position to challenge. Who is to say what the terms were then? However, I would still contact the shop owner and point out the withholding and the delay in paying you. And next time get it in writing... |
#38
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It's a form of tax fraud. Threaten to turn them in.
Ed
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"Quote The Raven, NEVERMORE !" |
#39
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No offense to the OP and while the store's manager sounds shady.... but why would you agree to 25% cut via consignment?
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2016 Taylor 324 Mahogany/Tasmanian Blackwood 2017 Gibson J-45 Standard 1985 Gibson J-45 G7th Capos |
#40
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In my state tax would be collected- not sure why they would take a cut of that as well - maybe you should talk to them -becasue what their doing is not entirely honest - you can call a state representative about this -
But my response would be -if you were not notified about this practice beforehand they are in the wrong ( should of gotten this in writing beforehand )-But then again its only 50 bucks -but its your 50 bucks Im sorry that happened to you !
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--------------------------------- Wood things with Strings ! |
#41
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Maybe a call to the city's finance department might be a good idea. If the consignment sale was not subject to sales tax the shop might be doing something it isn't supposed to, and probably on a larger scale than it may appear. Nothing like a good sales tax audit. Karma.
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#42
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Business owner here...
I can't answer to the tax laws of every state, but generally speaking, payment of the sales tax is the responsibility of the purchaser...or loosely stated, the final owner of that particular transaction...the person who ends up with the item in question. Buying wholesale, I pay no tax (with the proper legal licenses) on an item since it is meant for resale. When it is sold, I am responsible for collecting the full tax amount, recording it, and sending in that full amount the the gubmint when the sales taxes are due. I'm just a middleman in the tax part of the transaction. I don't go back and make the wholesaler pay part of the sales taxes I collected from the person who purchased that item from me. Not a penny of the tax collected comes out of my pocket. I just collect it pass it on. (As an aside, if I use an item I bought wholesale/tax free instead of reselling it, then I am the final owner and I have to record, report, and pay remit the tax paid based on my purchase price. It's called a Use Tax. Again, I don't collect any portion of that tax from the wholesaler I bought it from, either. So we don't get off tax free, either. But I digress... ) Off the cuff..I'd say that you're dealing with a slippery dealer or a poor businessman. Last edited by menhir; 08-22-2019 at 12:16 PM. |
#43
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20-25% is what most places charge. I only know one dealer who charges as low as 15%, but he adds on a set-up/inspection fee which just happens to bring the overall cost to you up to the equivalent of 20% (or more).
The red flag for me is that they let three months go by without informing you the guitar had sold. Just post that on yelp (if you decide to go that route). It's not revenge, it's telling potential consignors something they ought to know.
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stai scherzando? |
#44
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Tell him that if he wants a commission based on a price that includes sales tax, then this is how it should go:
$2000 selling price + $200 estimated tax = $2200 He gets 25% of the above ($550), you get 75% (i.e. $1650). Of course, he still needs to settle the tax with a state expecting $200, but that's his problem. ...and yes, I know this is facetious and would never go down, but geez... Wishing you good luck, whatever the outcome!
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2022 Yamaha Red Label FGX3 2022 Guild Westerly Collection OM-120 2016 Taylor 416ce-R 2010 Squier Vintage Modified Jazzmaster 1974 Rickenbacker 4001 Bass |
#45
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Quote:
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