THE DOWNLOAD MONEY MATTERS
FARE DEAL Google Flights has a new tool to take the headache out of comparison shopping for travel. You can now book a flight marked with a price guarantee badge which guarantees you will be reimbursed if the price drops before your departure.
P2P TAX THREAT If you love Venmo-ing friends or family
professional credentials like the Gemological Institute of America’s Graduate Gemologist certifi cation,” says Suzanne Martinez, co-owner of Lang Antique & Estate Jewelry in San Francisco. “Ideally, you’d want to work with
someone who has been appraising for a long time and has had the opportunity to see lots of diff erent types of pieces,” Martinez says.
3
CONSIGNMENT VS. AUCTION. There are pros and cons to each. “Consignment stores seem to
be getting about 50% to 60%, but remember, they generally try to get more for your item,” says Gram, explaining that you will likely end up getting the same amount of money whether you go to an auction house or consignment store. However, Gram adds, “I
personally like auctions because it’s a done deal. No waiting around for months while your Aunt Helen’s sofa is getting sat on by myriad strangers, waiting for the right client to come along.”
4
SELL TO A DEALER. Antique dealers make their
money by buying from sellers (like you) and selling the item at a profi t. First, ask for comps to see how
much that dealer is selling the item for, and expect to get about 50% of
the price once it’s sold. It depends on the value of the item
and how marketable it is, however. For example, Gram says, if you
have a one ounce gold bullion coin, you should get somewhere near the spot price of gold. But if you have a beat-up piece of furniture that needs work, don’t expect much.
5
SELL ONLINE. There are a few online spots
that have popped up specializing in antiques. Ruby Lane is one of the major
players in this market, and it allows you to list items while paying a maintenance fee of $25 per month (if you list more than 15 items, the fee is waived), plus a 9.9% commission per sale up to $250. Another idea: Sell at specialty
online shops. If you have some rare, antique, or signed books to sell, try AbeBooks or Biblio. For vintage or rare china, use Etsy, the International Association of Dinnerware Matchers (IADM), or Replacements Ltd.
6
WANT WHITE-GLOVE SERVICE?
On the Sotheby’s website (sothebys. com), anyone can upload a photo of an item, along with a description and relevant history, and a specialist will review it within about a week free of charge.
when you split costs for things, you may have started accepting this type of convenient payment app for small business transactions as well. Be warned: The IRS has noticed and implemented a new tax reporting rule. If you’re paid more than $600 via Venmo, regardless of how many transactions were involved, you could receive a 1099K form at the end of the 2023 tax year. When someone pays using a person-to-person method, they have the option of categorizing the payment as “friends or family” or “goods and services.” If they check the wrong box and misclassify the payment, it could generate taxable income for you.
MUSIC TO YOUR EARS Have you been meaning to grab concert
tickets but keep forgetting? Data shows it’s better to hold out until the last minute. FinanceBuzz analyzed the resale prices of 22,300 concert tickets and found that if you bought tickets at least three months in advance, you paid 14% more than the average resale price. Yet day-of sales cost 33% less, and day-before purchases saved 27% off the average resale price.
FREE DEALS Ever tried a new grocery item only to
discover your family hates it? Or received samples of a dog food you can’t use? Look no further than Buy Nothing Project (
buynothingproject.org) to share your goods with someone in the community. Buy Nothing groups are free to join, and it’s easy to get started. The rules are simple: No money can change hands, and monetary values of items traded are prohibited from being discussed. The volunteer-led nonprofit has an app, investors, a website, plus a podcast with stories of some of the treasures people have received in a swap. The best part: giving away things you don’t need and getting cool stuff — all for free.
JULY 2023 | NEWSMAX MAXLIFE 75
KATHYDENTZKEITH/SHUTTERSTOCK
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