How Much Profit Is Too Much?

[lookingout]

doing import export with items from europe, based out of NY but doing business in the whole US and canada. what I do is finding an item for a buyer for a particular price, lets say $5000, and selling it for, just as example, $8500. so what I do is sort of an agent.. is there a legal amount, such as a commission amount I am allowed to charge the buyer, or ist it legal to charge what the buyer is willing to pay for the particular item?

[Mr. Knowitall]

Is there something you're not telling us? Generally speaking, if you find people willing to pay you ridiculous amounts of money for your merchandise, all the more power to you.

[jk]

Limits?

Not sure now but a few years back, mark up on shoes was typically 2-300%. Is that exhorbitant? People still bought shoes and I do not remember anybody going to jail for price gouging.

Heck, have you seen the prices of Coach purses. The mark up on those things must be in the thousands of percentage points.


You question is a bit vague for any real answer though.

If you are merely an agent, how you explained things is not correct. You may charge a person the $3500 to procure and deliver the item but what you described is not acting in that capacity. You are describing an importer and reseller in how you described the situation.

There are many fees, duties, rules, and laws when importing and you need to be aware of them all before going crazy with this. You need to determine your position in the overall scheme of things and find out what liabilities it imposes upon you and take actions or precautions as needed.