Author Topic: Exchange rate is killing me  (Read 8247 times)

Offline Sunsanvil

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Exchange rate is killing me
« on: December 15, 2014, 05:06:04 PM »
Do any of my fellow Canadians feel at a particular disadvantage right now?  With the vast majority of buying/bidding opportunities in the US, shipping/postage already cuts into our budget, but now with our sinking dollar I almost feel like giving up.  How can I bid against someone who's paying half the shipping and dealing in their native currency...<sigh>

Mirosae

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Re: Exchange rate is killing me
« Reply #1 on: December 15, 2014, 05:33:47 PM »
I stopped bidding in certain currencies because of the exchange  rate. There are other options.  You could do what I do. Buy your exchange rate in advance.  It pays off.

Xcurrency is good for that

Offline archie leach

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Re: Exchange rate is killing me
« Reply #2 on: December 15, 2014, 07:10:39 PM »
Wha. Wha.. Whaaaaaaaaaaaaa!!!

Welcome to the last several years...

 :)

Offline MoviePosterBid.com

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Re: Exchange rate is killing me
« Reply #3 on: December 15, 2014, 08:31:57 PM »
I can understand your gripe about the exchange rate, but I wold disagree with your statement "shipping/postage already cuts into our budget" because you have it backwards.

as a mathematical argument, if an item costs $20 at your store locally, but you want to save sales tax and you look at the internet and the seller who has your item is charging $8 shipping, you are only going to bid or buy up to $12.00 to make up for the shipping cost. Therefore, the person who is really paying the shipping is the dealer who is selling the item at an $8 discount.

same goes for a $50 item.. if they want $10 shipping, you only bid/buy to $40

then, if you have a snipe in at $40 expecting to pay $10 more for shipping= $50 but the item only sells at $16, you may as well consider that the dealer sold at a steep discount AND you got free shipping because you just "saved" $24.

so the buyers don't really pay shipping most of the time.. though it does look like you do.

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Offline Crazy Vick

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Re: Exchange rate is killing me
« Reply #4 on: December 15, 2014, 08:50:28 PM »
Do any of my fellow Canadians feel at a particular disadvantage right now?  With the vast majority of buying/bidding opportunities in the US, shipping/postage already cuts into our budget, but now with our sinking dollar I almost feel like giving up.  How can I bid against someone who's paying half the shipping and dealing in their native currency...<sigh>

Take it as an opportunity to sell some stuff in US dollars, especially items you might have picked up when the loonie was closer to par.  Then either cash out your US dollars for loonies, or, keep a USD balance in your bank account/paypal.  That way your always dealing in USD so fluctuations wont have any impact
« Last Edit: December 15, 2014, 09:16:17 PM by Crazy Vick »

Offline CSM

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Re: Exchange rate is killing me
« Reply #5 on: December 15, 2014, 09:36:56 PM »
I can understand your gripe about the exchange rate, but I wold disagree with your statement "shipping/postage already cuts into our budget" because you have it backwards.

as a mathematical argument, if an item costs $20 at your store locally, but you want to save sales tax and you look at the internet and the seller who has your item is charging $8 shipping, you are only going to bid or buy up to $12.00 to make up for the shipping cost. Therefore, the person who is really paying the shipping is the dealer who is selling the item at an $8 discount.

same goes for a $50 item.. if they want $10 shipping, you only bid/buy to $40

then, if you have a snipe in at $40 expecting to pay $10 more for shipping= $50 but the item only sells at $16, you may as well consider that the dealer sold at a steep discount AND you got free shipping because you just "saved" $24.

so the buyers don't really pay shipping most of the time.. though it does look like you do.

I do believe he was referencing the relative costs of domestic vs. international shipping and how that, coupled with a poor exchange rate vs. US $, puts international bidders such as Canadians at a disadvantage (assuming we are all starting off with the poster budget)
Chris

Offline MoviePosterBid.com

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Re: Exchange rate is killing me
« Reply #6 on: December 15, 2014, 10:03:26 PM »
I do believe he was referencing the relative costs of domestic vs. international shipping and how that, coupled with a poor exchange rate vs. US $, puts international bidders such as Canadians at a disadvantage (assuming we are all starting off with the poster budget)

my first line from above:
I can understand your gripe about the exchange rate, but I would disagree with your statement "shipping/postage already cuts into our budget"

ergo I agree with the one part & not the other, as per my explanation
« Last Edit: December 15, 2014, 10:04:17 PM by MoviePosterBid.com »

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Offline CSM

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Re: Exchange rate is killing me
« Reply #7 on: December 15, 2014, 10:18:14 PM »
my first line from above:
ergo I agree with the one part & not the other, as per my explanation

I think the point being made has nothing to do with "the seller paying the shipping cost" and how that fact does not eat into a budget.

It's a relative analysis between two online bidders going for the same item - one bidding in US funds and paying a domestic shipping rate in US funds (ok, ok the seller paying the shipping because they do not own a brick & mortar store as per Rich's theory) vs. a Canadian paying in US funds faced with a poor exchange rate, higher international shipping costs, having to pay those costs in US funds (not to mention the possibility of duties and brokerage fees).

It doesn't need to be broken down to the level of minutiae - it's clear the Canadian is at a disadvantage (again if both buyers have the same concept of a budget)
Chris

Offline MoviePosterBid.com

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Re: Exchange rate is killing me
« Reply #8 on: December 15, 2014, 10:42:49 PM »
ah yes.. once again, Chris misses the point..
but ..
who cares?  violin.gif

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Offline CSM

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Re: Exchange rate is killing me
« Reply #9 on: December 16, 2014, 12:01:59 AM »
ah yes.. once again, Chris misses the point..
but ..
who cares?  violin.gif

Chris

Offline 110x75

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Re: Exchange rate is killing me
« Reply #10 on: December 16, 2014, 12:02:06 AM »
Killer exchange rates?
You guys should try living in a third world country   8)
Matias
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IG: @cinepapelarchivo

Offline CSM

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Re: Exchange rate is killing me
« Reply #11 on: December 16, 2014, 12:07:53 AM »
Killer exchange rates?
You guys should try living in a third world country   8)


But we have legitimate first world problems like:




I am sure you live like the royalty you are Mr. Matias  8)
Chris

Offline 110x75

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Re: Exchange rate is killing me
« Reply #12 on: December 16, 2014, 12:09:02 AM »
 ;D

You are correct sir. I am the king of my own bunker  ;)
Matias
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Offline Charlie

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Re: Exchange rate is killing me
« Reply #13 on: December 16, 2014, 07:28:41 AM »
I feel the same way about the UK.  It seems like they list posters at US prices but in pounds.  "Ah 100 pounds sounds good..."  Well that's $160 US or so.  Then "oh it's only 11 pounds to ship"  well that is $17...

But hey many currencies are down compared to the US...  I bought $124 AU dollars worth of poster and shipping for less than a $100 US... It use to be the other way around!  
« Last Edit: December 16, 2014, 07:28:58 AM by Charlie »

Offline Simes

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Re: Exchange rate is killing me
« Reply #14 on: December 16, 2014, 12:12:13 PM »
To be perfectly frank, I find all this to be a moot point.

We exist in a global economy selling items of one country's origins in numerous countries (by this I mean for example a US 1 sheet CAN be found for sale in the US, UK and various other countries), the items of which are in multiple supply.  We none of us are existing in a single country's economy to the exclusion of any other country.

For me, this comes within the same parentheses as BPs.  To wit; a buyer will have a budget to get A poster from Seller to Home.  How that budget is spent can have multiple avenues which will include, but not be limited to, BP, Tax, Customs, Shipping, Exchange Rate, and other stuff.  The best case scenario being, you live next door the seller which means all the budget can be spent on the poster; the worst case meaning all of the aforementioned factors eating into the deal.

It all works itself out in the end.

Offline CSM

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Re: Exchange rate is killing me
« Reply #15 on: December 16, 2014, 12:50:43 PM »
To be perfectly frank, I find all this to be a moot point.

We exist in a global economy selling items of one country's origins in numerous countries (by this I mean for example a US 1 sheet CAN be found for sale in the US, UK and various other countries), the items of which are in multiple supply.  We none of us are existing in a single country's economy to the exclusion of any other country.

For me, this comes within the same parentheses as BPs.  To wit; a buyer will have a budget to get A poster from Seller to Home.  How that budget is spent can have multiple avenues which will include, but not be limited to, BP, Tax, Customs, Shipping, Exchange Rate, and other stuff.  The best case scenario being, you live next door the seller which means all the budget can be spent on the poster; the worst case meaning all of the aforementioned factors eating into the deal.

It all works itself out in the end.

The global currency is essentially USD.  Most of the most frequented auction sites (including eBay) have listing in USD.  All fine and dandy when you have GBP in your pocket and not drowning loonies.  But of course it is all relative...
Chris

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Re: Exchange rate is killing me
« Reply #16 on: December 16, 2014, 03:50:07 PM »
whether the exchange rate is high or low, it's just the cost of doing whatever business you're trying to do.
when the rate is low, you get to buy at a discount. When it's high, you get to sell at a better-than-usual price. Overall it balances out to an average

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Offline jedgerley

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Re: Exchange rate is killing me
« Reply #17 on: December 16, 2014, 04:46:54 PM »
I feel the same way about the UK.  It seems like they list posters at US prices but in pounds.


Thats exactly how it feels  

But hey many currencies are down compared to the US...  I bought $124 AU dollars worth of poster and shipping for less than a $100 US... It use to be the other way around!  

I patiently waited to buy that SW Triple Bill in OZ.  Saved around 20%
« Last Edit: December 16, 2014, 04:48:42 PM by jedgerley »