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myslabs.com only 1 percent sellers fee
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76 posts in this topic

4 hours ago, thunsicker said:

Wait, if they are doing payment processing through PayPal how can they say no returns?  I thought that was a protection that PayPal provided/required.

From what I remember reading, you are not allowed to initiate anything with Paypal until THEY say so.  If you do you are suspended.

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27 minutes ago, Ares said:

if they don'y process payment how do they get their cut

I quote,

" The selling fee is automatically taken from the proceeds of a sale when the buyer pays the seller through PayPal Marketplace."

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4 hours ago, MySlabs said:

Hey guys, my name is Ken Rodgers and i'm actually the relatively new (3 months) CEO of MySlabs. I saw this thread and thought it might be a good opportunity to introduce myself and more importantly answer any questions folks may have! Just a small bit of background, MySlabs has been around since 2019 and has developed quite a dedicated following among slabbed card collectors/dealers with 22,000+ active members and 6,000+ approved sellers. On the most basic level we make every effort to run a safe, no nonsense platform with manually approved sellers, no returns (unless items are damaged), and some of the lowest fees in the industry. Currently sellers pay a 1% final value fee and of course payment processing fees (which are fairly ubiquitous on most platforms and are separate). At the moment we are a Paypal Marketplace however we are in the midst of an integration with Stripe Payment Processing to give members more options to transact. As many of the team here internally (not to mention many of our members) collect both slabbed cards and comics we felt opening up the platform to comics as well was a natural progression. Needless to say since the early part of May the comics category has been open and is slowly gaining traction. The ball is already in motion in terms of advertising to the comic collecting community so we look forward to bringing on many new members (and listings) in short order. If anyone has an interest in getting to know the community we have a private Facebook Group (MySlabs Welcome Forum), Instagram account @myslabs, as well as a relatively new Twitter account I now manage myself @MySlabsOfficial. Of course i'm always happy to answer questions here as needed.

Thanks!

Ken Rodgers

CEO MySlabs

Whats the rule on Canadians posting?

Do you allow out of USA sellers?

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1 hour ago, Ares said:

Whats the rule on Canadians posting?

Do you allow out of USA sellers?

Hey Ares, international BUYERS (and we have many) must have their purchases first sent to a 3rd party shipping service with a US address like "Ship My Cards". That said, international SELLERS are also permitted to transact on the platform. The added requirement is that the country of origin is included in listings so buyers know to expect additional lead time on items. Also keep in mind that all prices on MySlabs include shipping so sellers must price with that understanding. 

Hope this helps and please feel free to poke around our Help Center for additional info https://myslabs.zendesk.com/hc/en-us

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On 5/31/2021 at 3:14 PM, Ryan. said:

If they are deferring the transaction to PayPal directly between users then they aren't a selling platform; they are an advertising platform with minimal value add. That is, if I'm understanding their model correctly. hm

These boards, Myslabbedcomics, Instagram, etc all provide the same service but with no fees. 

These boards and Instagram lack a unified browsing and search mechanism.  Myslabbedcomics offers that, so how myslabs.com differs from them I'm unsure of.

The fundamental difference between all of these--or eBay as well--and ComicLink/Pedigree/Heritage is those use a traditional consignment model where sellers ship the comics to the consignor and they ship to the buyer.  That makes the transactions 100% safe, whereas the commission free or Myslabs.com 1% fee put much of the risk on the buyer and/or seller.  It looks like Myslabs.com is making attempts to minimize that risk through the seller approval process so if a seller actively tries to scam buyers they will kick them off the site, but there's room for sellers who want to go out in a blaze of glory to scam a bunch of people in a short period of time before Ken kicks them out.  There's NO opportunity for scamming with the consignment sites, hence the higher fees by using them as the broker keeping everything completely safe.

Edited by fantastic_four
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On 6/1/2021 at 9:28 AM, MySlabs said:

Hey guys, my name is Ken Rodgers and i'm actually the relatively new (3 months) CEO of MySlabs. I saw this thread and thought it might be a good opportunity to introduce myself and more importantly answer any questions folks may have! Just a small bit of background, MySlabs has been around since 2019 and has developed quite a dedicated following among slabbed card collectors/dealers with 22,000+ active members and 6,000+ approved sellers. On the most basic level we make every effort to run a safe, no nonsense platform with manually approved sellers, no returns (unless items are damaged), and some of the lowest fees in the industry. Currently sellers pay a 1% final value fee and of course payment processing fees (which are fairly ubiquitous on most platforms and are separate). At the moment we are a Paypal Marketplace however we are in the midst of an integration with Stripe Payment Processing to give members more options to transact. As many of the team here internally (not to mention many of our members) collect both slabbed cards and comics we felt opening up the platform to comics as well was a natural progression. Needless to say since the early part of May the comics category has been open and is slowly gaining traction. The ball is already in motion in terms of advertising to the comic collecting community so we look forward to bringing on many new members (and listings) in short order. If anyone has an interest in getting to know the community we have a private Facebook Group (MySlabs Welcome Forum), Instagram account @myslabs, as well as a relatively new Twitter account I now manage myself @MySlabsOfficial. Of course i'm always happy to answer questions here as needed.

Thanks!

Ken Rodgers

CEO MySlabs

that cool.  Glad to have an alternative to ebay.  

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24 minutes ago, innocuous said:

How much longer until a 0% competitor comes along? 

Isn't that Myslabbedcomics.com?  I haven't used it, but Ryan suggested they have no fees.

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22 minutes ago, fantastic_four said:

Isn't that Myslabbedcomics.com?  I haven't used it, but Ryan suggested they have no fees.

You’ve done two things, with a single response…

1. Proved My thinking correct

2. Demonstrated I’m a lazy bum who can’t be bothered to scroll back one page of a two page thread. 

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4 hours ago, fantastic_four said:

Isn't that Myslabbedcomics.com?  I haven't used it, but Ryan suggested they have no fees.

Myslabbedcomics doesn't facilitate transactions but is a good platform to upload the slabs you have and set a sale price; users can email through the site and transactions occur directly between users. Pretty much like how ComicArtFans functions. 

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On 6/1/2021 at 3:18 PM, MySlabs said:

Hey Ares, international BUYERS (and we have many) must have their purchases first sent to a 3rd party shipping service with a US address like "Ship My Cards". That said, international SELLERS are also permitted to transact on the platform. The added requirement is that the country of origin is included in listings so buyers know to expect additional lead time on items. Also keep in mind that all prices on MySlabs include shipping so sellers must price with that understanding. 

Hope this helps and please feel free to poke around our Help Center for additional info https://myslabs.zendesk.com/hc/en-us

that's just an added cost for buying to ship via third party.  might be interesting to revisit.

 

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On 6/8/2021 at 11:06 AM, fantastic_four said:

These boards and Instagram lack a unified browsing and search mechanism.  Myslabbedcomics offers that, so how myslabs.com differs from them I'm unsure of.

The fundamental difference between all of these--or eBay as well--and ComicLink/Pedigree/Heritage is those use a traditional consignment model where sellers ship the comics to the consignor and they ship to the buyer.  That makes the transactions 100% safe, whereas the commission free or Myslabs.com 1% fee put much of the risk on the buyer and/or seller.  It looks like Myslabs.com is making attempts to minimize that risk through the seller approval process so if a seller actively tries to scam buyers they will kick them off the site, but there's room for sellers who want to go out in a blaze of glory to scam a bunch of people in a short period of time before Ken kicks them out.  There's NO opportunity for scamming with the consignment sites, hence the higher fees by using them as the broker keeping everything completely safe.

Certainly some fair points and I guess the real takeaway is that MySlabs and every other online platform has their audience, method of approaching risk, and associated fee structure. I would never suggest one is objectively "better" than the other and the truth is most collectors (myself included) use more than one. In the end folks have to decide what's most important to them and where they feel that they're getting the right blend of value and safety. Again I'm the relatively new CEO so certainly can't take credit for previous success but MySlabs (largely on the slabbed sports-card side as the comics category is only a month old) has 23,000+ active users, 140,000+ active listings, and tens of thousands of successful transactions over the last few years with virtually no instances of loss for members and certainly nothing significant. With eBay's new managed payments model I'm seeing sellers usually paying 12-18% all in depending on their account's respective "risk" level. As tons of slabs move through their site every month (with a fair amount of shenanigans, returns, etc) I think presenting MySlabs as a viable alternative is fair. But I guess in the end folks have to explore and experience different platforms and decide for themselves. The private Facebook group "MySlabs Welcome Forum" is about 8,000 strong and is the real meat and potatoes of the MySlabs Community. The way members defend and help one another reminds me quite a bit of this and the OA version of this forum (where I've spent most of my time over the years). Perhaps that community dynamic is a real value add for MySlabs?

Anyway thanks for the discussion!

Respectfully,

Ken Rodgers

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2 hours ago, MySlabs said:

In the end folks have to decide what's most important to them and where they feel that they're getting the right blend of value and safety. 

A few questions if you will...

Can you clarify your policy on buyers who may receive damaged slabs or received wrong item or item received was not as described? I understand the actions taken against the seller but what's the recourse for the buyer? Or is all of that handled by PayPal? I think from what I understand it's a direct ship from seller to buyer so do you have some way of sellers to establish a history on the site so customers have a better idea who they're buying from? What is the buyers fee if any? I know you're having payments process through PayPal but just want to ask about any surprise CC processing fees involved from your end? 

Edited by MGsimba77
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On 6/8/2021 at 5:03 PM, Ryan. said:

Myslabbedcomics doesn't facilitate transactions but is a good platform to upload the slabs you have and set a sale price; users can email through the site and transactions occur directly between users. Pretty much like how ComicArtFans functions. 

How many books there have a sale price though? I've searched around a number of times and never saw a book with a sale price. It looks to be a place to display much more than to sell.

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2 hours ago, MySlabs said:

Certainly some fair points and I guess the real takeaway is that MySlabs and every other online platform has their audience, method of approaching risk, and associated fee structure. I would never suggest one is objectively "better" than the other and the truth is most collectors (myself included) use more than one. In the end folks have to decide what's most important to them and where they feel that they're getting the right blend of value and safety. Again I'm the relatively new CEO so certainly can't take credit for previous success but MySlabs (largely on the slabbed sports-card side as the comics category is only a month old) has 23,000+ active users, 140,000+ active listings, and tens of thousands of successful transactions over the last few years with virtually no instances of loss for members and certainly nothing significant. With eBay's new managed payments model I'm seeing sellers usually paying 12-18% all in depending on their account's respective "risk" level. As tons of slabs move through their site every month (with a fair amount of shenanigans, returns, etc) I think presenting MySlabs as a viable alternative is fair. But I guess in the end folks have to explore and experience different platforms and decide for themselves. The private Facebook group "MySlabs Welcome Forum" is about 8,000 strong and is the real meat and potatoes of the MySlabs Community. The way members defend and help one another reminds me quite a bit of this and the OA version of this forum (where I've spent most of my time over the years). Perhaps that community dynamic is a real value add for MySlabs?

Anyway thanks for the discussion!

Respectfully,

Ken Rodgers

Kudos for  providing an alternative to ebay.  Good luck with your venture.  Hope it proves successful

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1 hour ago, MGsimba77 said:

A few questions if you will...

Can you clarify your policy on buyers who may receive damaged slabs or received wrong item or item received was not as described? I understand the actions taken against the seller but what's the recourse for the buyer? Or is all of that handled by PayPal? I think from what I understand it's a direct ship from seller to buyer so do you have some way of sellers to establish a history on the site so customers have a better idea who they're buying from? What is the buyers fee if any? I know you're having payments process through PayPal but just want to ask about any surprise CC processing fees involved from your end? 

Thanks for the questions, there's quite a bit of detail in answering many of these (and more) questions in our Help Center here. But on the most basic level we try to take a common sense approach to resolving issues. The only time a buyer can request to return a slab is if the wrong item was shipped, the item is damaged, or the item is not as described/represented in the photos. Buyer's remorse etc is not an acceptable reason for return. Our customer service is handled by hobby guys that know the ins and outs of these types of transactions and they are very responsive/experienced in trying to mediate issues. Buyers are expected to first contact MySlabs and give us a chance to mediate before initiating a return through Paypal, there's no exceptions to this rule. I can tell you from seeing this play out the wild day in and day out, 99% of the time we're able to resolve things amicably. All sellers on the platform must apply and be manually approved. Again our team takes a common sense approach using readily available information such as eBay feedback, hobby/industry references and so forth. We respectfully reject many applications on a daily basis though those folks are welcome to establish more of a transaction history on the platform (and elsewhere) from the buy side and re-apply. We hate doing this, but we feel it's part of our value proposition to members as we simply can't have things become a "free for all". Aside from this the buyer can see the number of successful MySlabs transactions a seller has right in the item's listing. In terms of payment processing fees Paypal is currently 2.9% +.30 and we'll be rolling out Stripe as a voluntary alternative at 3.2% +.30. Aside from the 1% final value fee and payment processing there's no other fees to our sellers. On the buy side we will be rolling out a 1% buyers premium shortly though at the moment there isn't any.

Hope this helps!

Ken Rodgers

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22 minutes ago, MySlabs said:

Thanks for the questions, there's quite a bit of detail in answering many of these (and more) questions in our Help Center here. But on the most basic level we try to take a common sense approach to resolving issues. The only time a buyer can request to return a slab is if the wrong item was shipped, the item is damaged, or the item is not as described/represented in the photos. Buyer's remorse etc is not an acceptable reason for return. Our customer service is handled by hobby guys that know the ins and outs of these types of transactions and they are very responsive/experienced in trying to mediate issues. Buyers are expected to first contact MySlabs and give us a chance to mediate before initiating a return through Paypal, there's no exceptions to this rule. I can tell you from seeing this play out the wild day in and day out, 99% of the time we're able to resolve things amicably. All sellers on the platform must apply and be manually approved. Again our team takes a common sense approach using readily available information such as eBay feedback, hobby/industry references and so forth. We respectfully reject many applications on a daily basis though those folks are welcome to establish more of a transaction history on the platform (and elsewhere) from the buy side and re-apply. We hate doing this, but we feel it's part of our value proposition to members as we simply can't have things become a "free for all". Aside from this the buyer can see the number of successful MySlabs transactions a seller has right in the item's listing. In terms of payment processing fees Paypal is currently 2.9% +.30 and we'll be rolling out Stripe as a voluntary alternative at 3.2% +.30. Aside from the 1% final value fee and payment processing there's no other fees to our sellers. On the buy side we will be rolling out a 1% buyers premium shortly though at the moment there isn't any.

Hope this helps!

Ken Rodgers

Appreciate the detailed response. I think most people here are pulling for you. I know I am and probably all sellers are! Best of luck to you man (thumbsu

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