posted on December 20, 2007 06:24:23 AM new
I sold mine, but it was only one of the assets of my company (i.e., it also included a lease, camera equipment, software, PCs, inventory, etc.). I'm not sure that you can sell the name only.
FWIW, I am posting here as cashinyourcloset only by the good grace of the buyer.
posted on December 20, 2007 02:59:51 PM new
hwaha said" --------------------------------------------------------------------------------
"Do you plan to be active on Ebay after you sold your name?"
-----
and I SAY, just don't talk about this, if you want to keep yourself 'safe'.
posted on December 20, 2007 05:18:17 PM new
You can do it (as an asset of a business), but there's a good chance ebay will disable it if the buyer buys the account for the purpose of having built-up feedback.
posted on December 21, 2007 01:22:35 PM new
i sold mine a couple years ago, along with my business associated with it, as well as the domain name associated with it. ...
posted on December 21, 2007 02:18:11 PM new
I got "approval" from eBay prior to doing it, and introduced the new owner to the PowerSeller support person (over the phone).
posted on December 21, 2007 05:32:22 PM new
claude... i got approval, to list it on ebay, prior to doing it too. 7 days into the 10 day listing, they changed their mind pulled the listing. but i sold it then, outside of ebay, and they still ended up naru'ing it. quite unfair.
[ edited by aintrichyet on Dec 21, 2007 05:33 PM ]
posted on December 21, 2007 05:37:48 PM new
As I recall, Claude had his business set up as an LLC and Marcia perhaps did not.
I think eBay believes a sole proprietor is essentially a hobby seller, no matter how much business they do, while a legal entity such as an LLC or S Corp is a legitimate business.
posted on December 21, 2007 07:03:16 PM new
Good memory Fluffy; it was an LLC that sold all of its assets to another LLC.
edited to add: FWIW, I never felt comfortable with eBay's "approval" (which is why I put it in quotes in the first place). I know that it was probably never recorded anywhere official that I was approved. OTOH, it was so clearly not a sale of simply an eBay name and feedback that I felt they would probably go along with it. The assets were enumerated in legal documents and it was all done above-board.
[ edited by cashinyourcloset on Dec 21, 2007 07:07 PM ]
posted on December 21, 2007 09:38:19 PM new
cash - from my experience, I just can not imagine a Court finding for ebay, especially when ebay granted permission for the continued use of your ebay name by the new owner.
What did the new owner do regarding ebay's breach of the agreement?
posted on December 22, 2007 01:06:17 AM new
bill k -- claude's sale of the business went through just fine ... it was my sale that hit a brick wall. i sold my ebay ID and domain name, as well as a small amount of antiques/inventory that was left. we had sold antique full-time for 10 years at that point.
claude, i meant to ask you, when you did sell your store, did you do it via an ebay listing?
posted on December 22, 2007 05:59:26 AM new
Marcia,
I had considered selling it through eBay, and would have used eBay to advertise it, but my business agent came up with the right customer just prior to my pulling the trigger on it.
I had personal/sentimental reasons for wanting someone who had a good chance of making a go of the business. I live in the sister town, and drive by frequently, and I couldn't stand the thought of seeing a "Going out of business" sign in the window. So, I'm pretty sure that I left some money on the table.
I had already nixed someone who was paying more, but who told me that one afternoon was enough for me to explain the business, software, equipment, etc. to him. This from a guy who had never made a sale or purchase on eBay!
posted on December 22, 2007 08:21:19 AM new
Fluff,
I went at it two ways. One, as you suggest, was a multiple of earnings.
However, that was problematic in that the reason I was selling was that I was unable to meet the time commitments that the business required, and so I was frequently closed down. I'm lucky enough to have a wife that earns a great income, and I had previously not done so poorly either. Given a choice between a vacation and keeping the store open, it wasn't even close. Furthermore, since my wife traveled quite a bit for business, and works relatively long hours, when she was home I wanted to be home also, and when she wasn't home, I had to be home for the children (we have a nanny, but they're not 24/7, and besides, I like to be with the family).
So, I also did a comparison with what a franchise would cost, and what you'd have for the money. I had 800+ consignors, many of them still active, equipment and software, a "presence" and "trust" in our town, 2 employees (a photographer and me, and I agreed to work for a few months), 3-4000 feedback, etc., which a franchise wouldn't provide.
In the end, I decided that the buyer would probably succeed, and it was enough money to be respectable. It was a VERY low six digit amount. Considering my financial situation (I was 55 at the time, had saved my nickels, and my wife expected to work another 5-10 years), I closed the deal.
This and more in my upcoming book, available at Amazon in 2008!
[ edited by cashinyourcloset on Dec 22, 2007 08:34 AM ]
posted on December 22, 2007 09:26:23 AM new
Thanks Marcia...
We're off to Rome in 2 hours, and my wife will kill me if I don't start packing (we're just taking a couple of bags, but she doesn't want me to pull a gender-specific stunt like not helping pack ).
posted on December 22, 2007 01:44:25 PM new
Geez, I missed bidding cashinyourcloset Bon Voyage .
I just posted a long post to her in the "Giving your own merchandise as gifts" thread.
I did not realized she was leaving today .
posted on December 24, 2007 11:23:29 AM new
Marcia said °he already made it a gender-specific stunt by even intimating that suitcase packing should be done by the woman?!° (my apologies for some of the typing hereō Iām a touch'typist and Iām not in the mood to scour this Italian keypad looking for the right key).
True enough, but since I've been a househusband for the past few years, my wife and I kid each other about such things.
Deur1, I got your bonvoyage. Thanks.
The kids are somewhat jet'lagged and went to bed early, so I thought I would peek at this site. Iām heading off to sleep myself.
