The all new 'What's it worth' thread

[starscream615]

Here’s what I’ve got that I’m thinking about letting go. Kinda hard to find $ info on some of the kits. Looking to put a price on them though as I’m raising some funds for my family. Is there also a whats it worth arcade thread? I have a bunch of Naomi stuff too.

Nightmare in the Dark kit
SVC Chaos kit
Samurai Shodown V kit
Samurai Shodown 2 kit
Art of Fighting kit
World Heroes with box and marquee card

The Last Blade w/Shockbox

Carts
Ninja Combat
KoF 2003
KoF 2002
KoF 95
KoF 95
KoF 98
Garou Mark of the Wolves
Metal Slug 3
Rage of the Dragons
Samurai Shodown
Art of Fighting 2
Samurai Shodown 3
Baseball Stars Professional
Sengoku
Bust a Move
Magician Lord
Samurai Shodown 4

 

[starscream615]

The kit is easily worth $800+

If you have a complete kit with matching serials and the label is legit, there should be no real need to open the cart. Its legit, nobody bootlegs entire MVS kits like $20,000 AES games. Especially not 15 years ago. No need to put the label at risk, especially if you don't know what you're doing.

Your best bet is to list it on eBay for a 7day auction starting at $0.99. Every time I've done this I've always gotten WAY more than I'd have sold it for to begin with. Granted you'll loose ~15% to fees.

I think I may have to do this with NitD and my other kits because I can't find many recent sales even here when I search for the kits. Maybe I'm doing it wrong?

 

[Neodogg]

PM sent

 

[mjmjr25]

Your best bet is to list it on eBay for a 7day auction starting at $0.99. Every time I've done this I've always gotten WAY more than I'd have sold it for to begin with. Granted you'll loose ~15% to fees.

...and 12-24% in income tax; depending on your tax bracket.

A single $800 ebay sale will net someone
-$120 video games category fee
-$96-192 IRS
-$35~ shipped / insured
=$569 net

Ebay is solely for businesses or people who have the time to properly setup and run an LLC at this point.

 

[prof]

...and 12-24% in income tax; depending on your tax bracket.

A single $800 ebay sale will net someone
-$120 video games category fee
-$96-192 IRS
-$35~ shipped / insured
=$569 net

Ebay is solely for businesses or people who have the time to properly setup and run an LLC at this point.

And then hope that it isn't some scammy effer that bought it who'll try and screw you. It seems like ebay is teeming with them more than ever nowadays.

 

[starscream615]

PM sent

To me? If so I didn't get one.

 

[stormy]

...and 12-24% in income tax; depending on your tax bracket.

A single $800 ebay sale will net someone
-$120 video games category fee
-$96-192 IRS
-$35~ shipped / insured
=$569 net

Ebay is solely for businesses or people who have the time to properly setup and run an LLC at this point.

Not sure if the IRS considers old ass arcade games as "collectibles" but if they do, long term capital gains tax of 28% would apply on any gains (I'm assuming all this stuff was held for longer than 1 year). If they don't consider them collectibles, it would be either 15% or 20% capital gains tax on any gains he had, depending on his tax bracket.

Ebay fees for most things sit at 13.25% now, up to $7500. Then 2.35% on the portion above that.

No doubt, e-commerce is expensive af.

 

[uiengineer]

Haven't been actively collecting the last few years. I know FF3 is hard to find. Anyone have any ideas on value for these?

 

[mjmjr25]

Not sure if the IRS considers old ass arcade games as "collectibles" but if they do, long term capital gains tax of 28% would apply on any gains (I'm assuming all this stuff was held for longer than 1 year). If they don't consider them collectibles, it would be either 15% or 20% capital gains tax on any gains he had, depending on his tax bracket.

Ebay fees for most things sit at 13.25% now, up to $7500. Then 2.35% on the portion above that.

No doubt, e-commerce is expensive af.

I can't speak to capital gains. I doubt that is tracked rigorously, but it might apply and someone concerned with being in-line with the law might owe on top of that too.

I am speaking specifically to the $600 1099K rule, or "gig and side hustle income". Prior to 2022 one was not reported to the IRS until their 3rd party payments (Venmo, Apple Pay, Paypal, etc) hit 200 transactions and $20,000. That standard has dropped from $20,000 to $600 and the transactions limit is completely gone. From at least 200, down to a single (1) transaction.

IE, you sell a single anything on ebay for $600, you are getting a 1099K and it will count directly toward your income; so whatever your income tax rate is what you owe on that $600. Businesses are able to setup itemized business expenses. IE, they bought the game for $500 and can prove it, they are only responsible for $100 net income on that $600 sale. Very few of us have receipts, or the time / energy to properly combat the 1099.

If you have $1,000 in payments from Apple Pay, $2,000 from paypal, and $3,000 from Venmo - you are getting 3 1099K's and owe tax on $6,000, etc.

 

[Tarma]

Yikes... I'm glad I don't sell anything on the US eBay site. Hopefully they'll not introduce anything like that in the UK... although to be fair, I'm running out of stuff I actually want to get rid of.

Anyway... does this mean, you'd automatically discount a private sale by up to 25% taking it off of eBay? I assume there's no taxes to declare selling on the forums, unless you're ultra hardcore honest with your income.

 

[uiengineer]

fuck. i was thinking of posting a bunch of shit on ebay. i didn't realize they changed the 200 transaction/$20k threshold.

 

[wyo]

Yeah it was actually supposed to be implemented for 2022 but the IRS delayed it at the last minute. So as of Jan 1, 2023 you should assume the new rule is in effect. Just one of many terrible things contained in the covid bills that will continue to fuck over average citizens for years to come.

 

[uiengineer]

Haven't been actively collecting the last few years. I know FF3 is hard to find. Anyone have any ideas on value for these?

and to add on to this: I only can find one CIB version of FF3 sold on ebay. $2100 was the price. Does the old 1/3 rule hold true here? I.e., the case/insert would be 1/3 of the price of a CIB sale? I've been out of the loop. Thanks.

 

[stormy]

I can't speak to capital gains. I doubt that is tracked rigorously, but it might apply and someone concerned with being in-line with the law might owe on top of that too.

I am speaking specifically to the $600 1099K rule, or "gig and side hustle income". Prior to 2022 one was not reported to the IRS until their 3rd party payments (Venmo, Apple Pay, Paypal, etc) hit 200 transactions and $20,000. That standard has dropped from $20,000 to $600 and the transactions limit is completely gone. From at least 200, down to a single (1) transaction.

IE, you sell a single anything on ebay for $600, you are getting a 1099K and it will count directly toward your income; so whatever your income tax rate is what you owe on that $600. Businesses are able to setup itemized business expenses. IE, they bought the game for $500 and can prove it, they are only responsible for $100 net income on that $600 sale. Very few of us have receipts, or the time / energy to properly combat the 1099.

If you have $1,000 in payments from Apple Pay, $2,000 from paypal, and $3,000 from Venmo - you are getting 3 1099K's and owe tax on $6,000, etc.

I highlighted one of your statements in bold because it is not accurate. I would strongly encourage you to read the IRS publications that cover this information. Bottom line is that it does not count toward your income, it is treated as a capital gain/loss. Again, this assumes he has held the items for longer than one year and he is not operating as a business but only selling personal items. Only the gains are taxable and the losses are unfortunately not deductible but they don't count against your income either.

You can read more details here: https://www.irs.gov/newsroom/form-1099-k-frequently-asked-questions-general

See the third question for a full explanation.

 

[Neodogg]

I thought that it was only if done PP services and not F&F that counted towards income.

Will PayPal report my sales to the IRS? | PayPal US

Learn how PayPal is required to report sales above a threshold and also know the 1099-K requirements.

www.paypal.com

 

[starscream615]

I thought that it was only if done PP services and not F&F that counted towards income.

Will PayPal report my sales to the IRS? | PayPal US

Learn how PayPal is required to report sales above a threshold and also know the 1099-K requirements.

www.paypal.com

Yeah, that's what I thought too which is why I listed F&F. All this IRS talk is a bit confusing but it does kind of suck if this is the case especially since I was considering putting some stuff on eBay. I'm not in a rush for cash or anything so I'll just let this simmer with the community for a while and see what offers I get.

Thanks to all for the education though!

 

[stormy]

Supposedly, if you conduct transactions with F&F, PayPal won't be sending that data to the IRS via form 1099-K.

I can bet that there will be errors on the forms, for some.

Probably best to keep a cost basis going forward for anything you could imagine selling in the future, until they scale back these arduous statutes.

Or just roll the dice for the lulz, I dunno

 

[mjmjr25]

Well, maybe this needs its own thread...but...here we go.

Short term capital gains ARE taxed at your income tax rate. These are items owned 1 year or less.
Long term capitcal gains are taxed at 0, 15, or 20%, depending on your income. Almost everyone on this forum will be at 15% ($41,000-$459,000). So, to suggest "don't worry, it won't count as income" is not a wise position to take. For some 15% will be slightly less than their income, for others slightly more.

You can read the info on the IRS site, but Nerd Wallet is an easier read for anyone interested.

As far as only taxed on gains, unless you can prove what you paid, then it is all counting as gains. If you have receipts, like a business, then you're golden. Very few people like us selling personal items have receipts for the stuff we're selling.

I know this process well. Was audited and on the very topic in 2016 due to a bunch of group buys and got a tax bill for over $8,000 or something close to that. All of the group buy payments were defaulted as short-term capital gains and added to my INCOME tax for the year. There's a long thread on this forum about it.

 

[stormy]

It probably does and you can have the last word if you want it, I won’t keep this going.

Yes, short term capital gains are characterized as income, no disagreement with your statements there. I also think it’s safe to assume he owned these items for longer than one year.

My initial point was to illustrate the process of properly accounting for capital gains transactions, so people understand it fully and can make their own decisions on how to report it. I don’t think it is advisable to presume it will all be characterized as income either. I think this is why it’s valuable to explain the procedure.

If you cannot provide evidence of your cost basis or can’t reconstruct it through alternative means (emails, conversation threads, statements, testimony) then yes what you said is a likely outcome, if audited.

Given the small sums of money at play here, enforcement is unlikely but you never can be certain as in your example. Ultimately if you are audited, the auditor has significant discretion as to what they will accept as proof, so sometimes you cannot win no matter what you do. Best to keep cost basis records going forward as I mentioned above.

Sorry to see it happened to you.

 

[TheSegaDude]

OK, I'm getting organized for another round of sales. Need some help again with pricing.
I've look at these forums and facebook marketplace for guidance (in addition to ebay and pricecharting); but there is sometimes still a lot of discrepancy in pricing.

How do these prices look? I will adjust if the mob comes for me.
Original working board and carts, some repro labels. All tested and working.
Carts have very noticeable scuffs and scratches.
All include a Shockbox with cover art.

Aero Fighter 2 $90, Repro Label
Aero Fighters 3 $200 Japan
Aggressors of Dark Combat $90
Alpha Mission II $200, Repro Label
Baseball Stars Professional $60
Bomberman Panic Bomber $200, Repro Label
Breakers $90, Repro Label
Breakers revenge, $180
Captain Tomaday $160, Holo label
Double dragon $70
Fighters History Dynamite $60
Galaxy Fight $150, Repro Label
Ghost pilots $220
Kabuki Klash $100
King of the Monsters $100
Magical Drop II $80, Japan
Mahjong $80, Japan
Puzzle de Pon! $40, kit w/ non matching serials
Rage of the Dragons $200
Savage Reign $90, Repro Label
Stakes Winner $60, cut serials
Street hoop $60, Repro Label
Strikers 1945 plus $160
Thrash Rally $90, Repro Label

And I'd love some help pricing these four:

Flip Shot, Holo label
Kizuna Encounter Super Tag Battle, Repro Label
Neo Bomber Man
Power Spikes II

 

[Gamemaster]

Oh how much for a Mint US AES Mutation Nation and a near mint Agressors of dark Kombat ( Cart has some scratches on the fron of the cart everything else is fine)?

I guess AODK will be around 700-800$
Mutation Nation 900$

@heihachi and @yagamikun

 

[yagamikun]

Hey @Gamemaster

If you're selling on Ebay, those prices aren't far off what's on there so I'd say that's a safe bet - although it may take you a while to sell them without undercutting other sellers by a small percentage if you want a quicker sale.

If you're looking to sell in a private/forum sale, knock at least 10 - 12% off your values.

Heihachi may have some additional insight - I've largely got out of the collecting game this year and don't pay attention like I used to.

 

[heihachi]

I haven’t been following eBay or sales posts here too much, but I think those games are more in the $500-$600 range unless things have changed radically. Start high and go lower if they don’t sell.

 

[ChuChu Flamingo]

Im interested in mutation if you ever sell @Gamemaster

 

[Gamemaster]

@yagamikun @heihachi Thanks for the suggestions.
I think prices er a bit higher in Europe and selling on ebay is now free in germany.
Anyway hard to tell.
@ChuChu Flamingo I will sell most of my Neo-Geo games but i dont have much time for that so i sell them when i have some spare time.
Basicly i have someone that is interested in the Mutaion Nation, but feel free to send me a pm with an offer.
Im based in germany so shipping could be expensive.