Am I the only one...

[Jarmel]

Yea this is getting ridiculous. I recently won something that was 35000 yen and I'm expecting to pay around $500 minimum. God.

[Drac of the Sharp Smiles]

deputies taking so much off the actual exchange rate and going by their own bothers me I just don’t get that

I get it. It sucks, but I get it. It's because only BANKS get the actual, exact yen rate. No private individual can work from that rate. Try making a yen payment through Paypal, you'll see the same thing. Not to mention, some deputies will hold things, or give you large windows to pay for things, and once that large window has gone by, they need to make sure they're still getting their original money back.

[zerospace]

I get it. It sucks, but I get it. It's because only BANKS get the actual, exact yen rate. No private individual can work from that rate. Try making a yen payment through Paypal, you'll see the same thing. Not to mention, some deputies will hold things, or give you large windows to pay for things, and once that large window has gone by, they need to make sure they're still getting their original money back.

What really gets me is when the rate drops between the time I win something and the time I'm actually billed for it by my deputy. I'm auto-billed for each win, so sometimes I end up totally screwed in that the rate might fall by a few yen, which for expensive items ends up adding a significant amount to the final total. *sigh*

I haven't bought much on YJ in the past year, though a few things have come up. I look at my invoice each time and just feel like screaming.

[D123]

deputies taking so much off the actual exchange rate and going by their own bothers me I just don’t get that

I get it. It sucks, but I get it. It's because only BANKS get the actual, exact yen rate. No private individual can work from that rate. Try making a yen payment through Paypal, you'll see the same thing.

I pay with PayPal so I know, I even called them a long time ago about it. I just don’t see how the exchange rate will drop 5 points in one day I never noticed deputies doing this until the market crashed or was it always like this?

[ReiTheJelly]

...deputies taking so much off the actual exchange rate and going by their own bothers me I just don’t get that

As much as it sucks, they kinda have to. Example:

You win/pay for an auction on Thursday, when the yen is 77 to the dollar
The deputy pays the seller on Saturday, when the yen has dropped to 74 to the dollar (value of the dollar has weakened)

On smaller items, this might be a matter of pennies. But if you won a 100,000 yen item...the deputy service would be looking at significant personal losses. They adjust the rate to cover their asses. It sucks (especially if your local currency GAINS in strength over the yen after you pay), but I understand why they do it.

[D123]

okay okay…

[Jarmel]

...deputies taking so much off the actual exchange rate and going by their own bothers me I just don’t get that

As much as it sucks, they kinda have to. Example:

You win/pay for an auction on Thursday, when the yen is 77 to the dollar
The deputy pays the seller on Saturday, when the yen has dropped to 74 to the dollar (value of the dollar has weakened)

On smaller items, this might be a matter of pennies. But if you won a 100,000 yen item...the deputy service would be looking at significant personal losses. They adjust the rate to cover their asses. It sucks (especially if your local currency GAINS in strength over the yen after you pay), but I understand why they do it.

Then why don't they just do that. If it falls, then calculate the falling rate in. If it rises, do the same. If it stays the same then just charge that amount.

[cutiebunny]

Some deputies require that you pay within a 24 hr time frame. Other deputies give you 10 days. If you want to pay the current, quoted rate, then you'd have to do it the same day that you receive the quote. I highly doubt that, with the current volume that most deputies have, that they'd be able to resend you another invoice with the new rate, or that they could arrange a scheduled day/time for you to pay.

I understand that deputies have it rough now, especially those that rely heavily on US customers. I appreciate the incentives they try to offer (ie. free or combined commissions), but, I find myself buying less frequently, and even then, only going after less expensive items. Still, despite the mark-up due to the exchange rate, I'm thankful that I have an opportunity to buy on YJ instead of having to deal with E-bay for all my art stuff.