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Old 11-16-2011, 10:45 AM  
Matsui WSOP Tribute GB Reflections/Lessons Learned
 
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links_slayer links_slayer is offline 11-16-2011, 10:45 AM
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The dust has finally settled and the November Eight (that's what I'm calling the final 8 boxes) are patiently sitting in our family room eagerly awaiting their trip the post office this afternoon. I thought I would take some time to reflect on this experience while it's [mostly] clear in my memory.

First, what an awesome experience this has been (despite my mini-griping below). I mean it. Thank you to everyone involved. Afterall, it wouldn't be a "GROUP BUY" without the "GROUP"!!!!!!!! This is by far the best forum that I'm a part of and it wouldn't be that way without the membership. Thank you all for placing your trust in me on this one. I hope you are as satisfied with the chipes as I am.

HUUUUUUUUGE thank you to Josh for letting me take the reins and for doing all the initial discussions with Matsui. Your negotiating skillz are impecable, sir.

DOUBLE HUUUUUUUUUUUGE thank you to the always-impressive Johnny5 for his assistance with this project. I truly feel that he hit this one out of the park and got it EXACTLY right. Thank you John. Thank you, thank you, thank you!!

Finally, an enormous thank you to my wife. I've spent more time on our PC at home over the last few months than I have in the 5 years we've been married it seems....emailing Matsui dozens of times/day.....emailing J5 about design stuff.....spending countless hours checking, re-checking, and re-re-rechecking numbers, sizes, glitter, etc....compiling address lists, weighing shipping options....and so on and so forth. She's honestly the best thing that's ever happened to me and I felt the need to giver her some well-deserved props here. After all the boxes were packed up, totals crunched, and PMs sent, she came into the poker room with a rum and coke in hand and said, "Looks like you deserve a drink." I hit the jackpot with her for sure.

Things I Would Do Differently Next Time:
- Require orders to be made in multiples of 20 per denom (e.g. 100, 240, 180, 400, etc.). Not that filling orders w/ odd numbers was all that difficult it was just a tad time consuming.
- Only offer glitter or non-glitter chips (glitter, obv). I totally get the appeal of 40 and 43mm chips and would have no problem offering both sizes should there ever be another Matsui GB and I'm "chosen" as the organizer. It just adds another variable and therefore another avenue for potential error.
- Take more time to get orders packaged and shipped or take more time off work to do this. I am truly wiped out and have had a very hard time focusing on anything for the past few days. I expected this group buy to essentially consume my life which it did. So I guess I'm just whining for the sake of whining
- [shipping/packaging issues TBD...hopefully none]

Anything else that participating members would have liked to see done differently? Please let me know. If I never run another group buy maybe someone else can learn. I appreciate all the pleasant feedback I've already received from many of you. I hope I made the experience as smooth and easy as possible.
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Old 11-21-2011, 05:16 PM
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Re: Matsui WSOP Tribute GB Reflections/Lessons Learned

Additional lesson learned:

If you have a personal account with PayPal, DO NOT RUN A GROUP BUY. According to the woman I just spoke with, my account has been flagged and they've reported me to the IRS as potentially receiving in excess of $10,000 without paying taxes on it. This should be fun early next year.....good thing I kept all my paperwork, including all e-mails from Matsui, the invoice from Matsui, the cancelled check, all post office receipts/paperwork, etc. Although she said there's basically nothing I can do to prove to them that I'm NOT a business.

PayPal considers "group buying" a risky situation and discourages it.

The most frustrating thing about all of this is that I called twice (not once, TWICE) to make sure these types of transactions were allowed and acceptable and that my account was verified to allow this amount of money to be deposited and withdrawn. Apparently that was useless. I guess any future payment (if any) I receive won't be in the form of personal/payment owed that's for sure. I'll just eat the fees.

What a nightmare this has become.
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Old 11-21-2011, 07:06 PM
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Re: Matsui WSOP Tribute GB Reflections/Lessons Learned

Ouch, that does look like a sticky situation. I guess to avoid that, don't use paypal or stay under $10,000.
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Old 11-21-2011, 07:45 PM
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Re: Matsui WSOP Tribute GB Reflections/Lessons Learned

Sounds to me like PayPal could give 2-sh!ts worth anymore regardless of the situation in hand.
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Old 11-22-2011, 09:20 AM
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Re: Matsui WSOP Tribute GB Reflections/Lessons Learned

chipNAchair - What exactly should PayPal do?

Links - sorry to hear the hassle - it will work out - just more work for you.
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Old 11-22-2011, 09:36 AM
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Re: Matsui WSOP Tribute GB Reflections/Lessons Learned

Quote:
Originally Posted by links_slayer View Post
Additional lesson learned:

If you have a personal account with PayPal, DO NOT RUN A GROUP BUY. According to the woman I just spoke with, my account has been flagged and they've reported me to the IRS as potentially receiving in excess of $10,000 without paying taxes on it. This should be fun early next year.....good thing I kept all my paperwork, including all e-mails from Matsui, the invoice from Matsui, the cancelled check, all post office receipts/paperwork, etc. Although she said there's basically nothing I can do to prove to them that I'm NOT a business.

PayPal considers "group buying" a risky situation and discourages it.

The most frustrating thing about all of this is that I called twice (not once, TWICE) to make sure these types of transactions were allowed and acceptable and that my account was verified to allow this amount of money to be deposited and withdrawn. Apparently that was useless. I guess any future payment (if any) I receive won't be in the form of personal/payment owed that's for sure. I'll just eat the fees.

What a nightmare this has become.
I'd heard about this before. They start thinking that you're basically laundering money or some such thing. When I was entertaining selling the Dunes, people discouraged me from using PayPal if I split them up (which I wouldn't do, because I would be struck by lightning from God's own hand).
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Old 11-22-2011, 10:11 AM
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Re: Matsui WSOP Tribute GB Reflections/Lessons Learned

Quote:
Originally Posted by PhilTheThrill14 View Post
What exactly should PayPal do?
How about be consistent with the information they provide to their customers??

Or at least hire people who have a clue. Their 'customer support' has to be one of the worst I've ever experienced.
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Old 11-22-2011, 10:39 AM
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Re: Matsui WSOP Tribute GB Reflections/Lessons Learned

Quote:
Originally Posted by Johnny5 View Post
How about be consistent with the information they provide to their customers??

Or at least hire people who have a clue. Their 'customer support' has to be one of the worst I've ever experienced.
Neither of these address the issue- but make for a fun read. Thanx.

Should Paypal NOT report the over $10,000?

Should they report it, investigate exactly what the indivdual is doing or has done and then work with the IRS to remove the flag?
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Old 11-22-2011, 11:35 AM
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Re: Matsui WSOP Tribute GB Reflections/Lessons Learned

Quote:
Originally Posted by PhilTheThrill14 View Post
Neither of these address the issue- but make for a fun read. Thanx.
Sure they do, have you read the entire thread? You're welcome!

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Quote:
Should Paypal NOT report the over $10,000?
Good question, are they required by law to report it in this case?

Quote:
Should they report it, investigate exactly what the indivdual is doing or has done and then work with the IRS to remove the flag?
They were informed prior to the transactions of 'exactly what the individual was doing', so why do they need to investigate it?
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Old 11-22-2011, 12:11 PM
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Re: Matsui WSOP Tribute GB Reflections/Lessons Learned

I have read the entire thread - and I am unsure wht you think Paypal has done wrong - and what they do instead. You don't know what they are required by law to do - yet you criticize.

Are we discussing any other issues with Paypal besides this one? Still don't see where your answer to my question addressed anything.....just a typical rant against Paypal. Now does it suck for Links that this happened - yes. But did Paypal do what it is required to do - yes. Pretty sure PayPal can't make determinations on the nature of your business for the IRS. That is for the IRS to do.

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Last edited by PhilTheThrill14; 11-22-2011 at 12:22 PM.
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Old 11-22-2011, 12:21 PM
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Re: Matsui WSOP Tribute GB Reflections/Lessons Learned

I just opened my email linked to PP and my heart nearly stopped when I noticed I got an email from PayPal. Fortunately it read: "Shop in the US for Christmas gifts, enjoy free shipping and get a chance to win 100 EUR". Pheeewwwww......
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