dupont2005 Posted April 8, 2020 Share Posted April 8, 2020 For the purposes of applying for coronavirus aid I would say yes, just as much as any store forced to close and unable to sell their goods Link to comment Share on other sites More sharing options...
the blob Posted April 8, 2020 Share Posted April 8, 2020 2 hours ago, Ryan. said: What else would I be talking about? The income is lost "forever" if the book never sells. Link to comment Share on other sites More sharing options...
lou_fine Posted April 8, 2020 Share Posted April 8, 2020 11 hours ago, shadroch said: Say you had some $50,000 in merchandise out on consignment and regularly sold $2500 a month over the last year and a half. Now those sites are closed. I won't sell any books so no check this month, but the books will still be there when they reopen. Would you consider this lost income? I assume you must be thinking of applying for the big federal government handout here? Let me know if it works because I have a whole ton of books from the 80's (including my rare and invaluable B&W's ) and early 90's that I know for sure would have sold for at least 7 figures this month, except that darn silly auction house had to close their operations in light of this whole Covid-19 fiasco. Link to comment Share on other sites More sharing options...
lighthouse Posted April 8, 2020 Share Posted April 8, 2020 It’s lost income if you can also make the valid case that you lost the opportunity to replace those comics at wholesale during the month. But if you’re just reallocating your portfolio from comics to cash there’s no income occurring at all. Capital gains, sure, but not income. Link to comment Share on other sites More sharing options...
shadroch Posted April 8, 2020 Author Share Posted April 8, 2020 It's not just comics. With my ongoing battle with the zoning department keeping my own shop shut, I have merchandise in shops, in two galleries and an antique mall. The contracting work I needed was scheduled to be done by April 15th. Now I'm lucky if it gets started before Monsoon Season. Part of it is a 24x26 carport for shade and protection from rains. On the other hand, I'm really enjoying not having to go to work. Link to comment Share on other sites More sharing options...
Hollywood1892 Posted April 8, 2020 Share Posted April 8, 2020 Its delayed income (stasis) The books will sell, just not now... 1950's war comics 1 Link to comment Share on other sites More sharing options...
oldbsturgeon Posted April 8, 2020 Share Posted April 8, 2020 If I wanted to buy from the available inventory but couldn’t as the consigner isn’t open, and I don’t want to wait and buy somewhere else, then I would see that as lost income Link to comment Share on other sites More sharing options...
shadroch Posted April 8, 2020 Author Share Posted April 8, 2020 2 hours ago, Hollywood1892 said: Its delayed income (stasis) The books will sell, just not now... Isn't that true of most business's? Hollywood1892 1 Link to comment Share on other sites More sharing options...
Hollywood1892 Posted April 8, 2020 Share Posted April 8, 2020 1 minute ago, shadroch said: Isn't that true of most business's? Yes Nothing to fear here...this to shall pass, stay inside and stay safe... Link to comment Share on other sites More sharing options...
Lightning55 Posted April 8, 2020 Share Posted April 8, 2020 People will be applying for aid for money lost on work they usually do, but couldn't, such as employees, contractors, professional services, retailers, etc. If you can show your life was adversely affected in a similar way through loss of payments you regularly receive, it's worth a shot to submit it. It has been pointed out that you still have the merchandise, but so does the retailer. People would like to get paid for work they didn't do because they couldn't, so you might as well get paid for merchandise you didn't sell because you couldn't. In either case, the ability to cover one's bills is severely impacted. Link to comment Share on other sites More sharing options...
shadroch Posted April 8, 2020 Author Share Posted April 8, 2020 What stinks is I had applied for a small SBA loan about six weeks ago and they made me jump thru all sorts of hoops, made me put up personal property as collateral and now am told that application is on hold as they sort out the new ones. The bank is closed except for the ATMs so I can't get anyone to actually talk to me. Link to comment Share on other sites More sharing options...
the blob Posted April 8, 2020 Share Posted April 8, 2020 3 hours ago, shadroch said: Isn't that true of most business's? Not necessarily. For stores that had to shut down with a bunch of new monthly floppies on the racks there is a good argument that they lost the opportunity to sell those at retail. Maybe in the dollar box. But those are losses. Anyway, it seems that these loans are more about keeping payroll afloat, not replacing lost sales per se. But anyway, sounds like you have time on your hands, give it a shot! Link to comment Share on other sites More sharing options...
the blob Posted April 8, 2020 Share Posted April 8, 2020 2 hours ago, Lightning55 said: People will be applying for aid for money lost on work they usually do, but couldn't, such as employees, contractors, professional services, retailers, etc. If you can show your life was adversely affected in a similar way through loss of payments you regularly receive, it's worth a shot to submit it. It has been pointed out that you still have the merchandise, but so does the retailer. People would like to get paid for work they didn't do because they couldn't, so you might as well get paid for merchandise you didn't sell because you couldn't. In either case, the ability to cover one's bills is severely impacted. The retailer is getting loaned $ to pay payroll & some portion toward rent is still forgiveable. Are the applications even looking at lost sales? (presumably your sales were more than payroll in the past) Link to comment Share on other sites More sharing options...
Aweandlorder Posted April 8, 2020 Share Posted April 8, 2020 Its lost income. Can you report it as lost income? sure Can someone dispute it if they wanted? Also yes Link to comment Share on other sites More sharing options...
kav Posted April 8, 2020 Share Posted April 8, 2020 4 hours ago, shadroch said: What stinks is I had applied for a small SBA loan about six weeks ago and they made me jump thru all sorts of hoops, made me put up personal property as collateral and now am told that application is on hold as they sort out the new ones. The bank is closed except for the ATMs so I can't get anyone to actually talk to me. cant you call bank headquarters? Many small bank outlets are closed but the ones with the bullet proof/virus proof glass should still be open. Batgirlwholaughs and 1950's war comics 2 Link to comment Share on other sites More sharing options...
Bob Troub Posted April 8, 2020 Share Posted April 8, 2020 Consider it what you want.....if you can verify income from recent sales, you might have a chance....If you can't verify the income on a regular basis, you have zero chance of receiving any government money...... Link to comment Share on other sites More sharing options...
Robot Man Posted April 8, 2020 Share Posted April 8, 2020 I call it lost "opportunity". If your venue is closed, you don't have the stuff available to buyers. You don't know exactly what it would be if it were open but the door is now closed therefore lost possible sales and income... JJ-4 1 Link to comment Share on other sites More sharing options...
jsilverjanet Posted April 8, 2020 Share Posted April 8, 2020 i would think that a) you should have an accountant that would guide you to the answer especially in your case b) if you don't have an accountant, you should hire one Timmay and JJ-4 2 Link to comment Share on other sites More sharing options...
kav Posted April 8, 2020 Share Posted April 8, 2020 9 minutes ago, Batgirlwholaughs said: I have a vault you can deposit in! Link to comment Share on other sites More sharing options...
shadroch Posted April 8, 2020 Author Share Posted April 8, 2020 5 minutes ago, jsilverjanet said: i would think that a) you should have an accountant that would guide you to the answer especially in your case b) if you don't have an accountant, you should hire one My accountant is the one who asked me if I had stuff out on consignment and if I had records to document sales. There are no experts on this, as its brand new and regulations are changing daily. Some banks seem to be following different guidelines. While my circumstances aren't unique, they are pretty unusual. ADAMANTIUM and Hollywood1892 2 Link to comment Share on other sites More sharing options...
