October 19, 2024, 12:42 pm | Read time: 4 minutes
While browsing through the “Vinted” app, STYLEBOOK working student Catharina Deege noticed that sellers often offer to arrange payment and shipping “between us” – even though the second-hand online store has the extra function of purchasing the goods through the Vinted official payment system with buyer protection. The whole thing costs the seller five percent of the product price. Does that make sense? STYLEBOOK investigated whether it is worth doing without buyer protection and the fee.
Online stores are a dime a dozen. What sets Vinted apart from conventional stores is the huge range of second-hand goods sold by private individuals. The online marketplace actually provides for the community to negotiate purchases via the platform’s payment system. However, there are always cases in which sellers offer to circumvent this. But is this even worthwhile?
Overview
Vinted buyer protection – what does it mean?
Founded in 2008, the online store Vinted, which sells clothing as well as electronics and pet supplies, enjoys a broad community. Articles are typically offered by private sellers and are exclusively second-hand. The sustainable shopping concept allows users to declutter their homes or, as buyers, replenish their wardrobes with pre-loved items.
An essential app feature is purchasing items via the official “Buy” button. When members trade via this button, sellers are covered by buyer protection for a fee of five percent of the item price and EUR 0.70: “Among other things, this fee enables secure payment processing between two members without having to exchange personal bank details,” says Vinted.
Unprotected online purchases harbor risks
There are repeated cases of members trying to circumvent the app’s integrated payment system. However, caution is advised: This may be a scam. Therefore, the platform itself advises users to utilize buyer protection: “If an item does not match the description or is lost or damaged during shipping, Vinted buyer protection applies, and buyers receive a refund of the purchase amount.”
Thus, it is also beneficial for sellers to remain within the Vinted ecosystem. Both parties benefit from encrypted transactions, a reliable and traceable shipping process, and the avoidance of legal problems. Upon inquiry, Vinted responded: “Vinted is aware that there are members who try to make sales outside the platform, so Vinted regularly informs the community about the risks involved with integrated in-app notifications.”
What tempts people to circumvent buyer protection?
“I’m not using the payment system because I need to save money,” a message flutters into my virtual mailbox. “Money to save?” I ask myself and reply to the Vinted seller that it’s too unsafe for me. I refrain from buying the trousers. “You can take a look at my reviews; I think they’re very trustworthy,” the user replies.
The app takes five percent of the sale price for itself. In other words, if you as a seller put up an item of clothing for 20 euros, 19 euros of that goes to you in the end, and one euro stays with the platform. I don’t quite understand what the user I was in contact with means by “saving.” At most, if you want to look at the bigger picture, tax issues come into play. But are you actually required to pay taxes on items sold through Vinted?
Do private sales have to be taxed?
Upon inquiry, Vinted clarifies that the sale of personal items is not subject to taxation in Germany. However, it is important to declare the goods sold correctly when submitting the DAC-7 form, i.e., a tax return.
In concrete terms, this means that if a seller makes a profit, there is no tax on it as long as it is an item of daily use: “This includes clothing, toys, furniture, wearables, and much more. Even a wedding dress can be considered an ‘everyday item.'” In addition: “Sellers do not have to pay tax if they sell an item that they have already owned for at least a year.”
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With or without? Vinted buyer protection strongly recommended
For those seeking security, it is advisable to always conduct transactions through the integrated payment system and opt for buyer protection. This way, both parties can rest assured that personal data is protected and that Vinted will deal with any mishap, whether due to dissatisfaction or a shipping mishap.
Not every user seeking to bypass the system should be equated with a fraudster. After all, many do not even know that they are not losing money when they pay the fee, but above all, they are gaining security. If profit is important to you, you can also set the price at a higher level. Always bearing in mind, of course, that prices should always be proportionate and fair.