Cashing out for real money question

What is the exchange rate when cashing out Lindens for USD? Also, where do you go to cash out?
Thanks

http://www.secondlife.com/currency/market.php

http://www.secondlife.com/currency/sell.php

You can't sell at all until 14 days after you've started the clock on your trading limits, though. You can do this by such things as paying LL for membership, tier, or a Linden dollar purchase. Check your current limits here:

http://www.secondlife.com/currency/describe-limits.php

All of these links are on the left side of your account page, under 'Commerce>Linden Dollar Exchange.'

Wow sept join date and cashing out? Boy, You must be good!

lol, I wish. I was just curious. You know for when I make my millions. HA HA!! Thanks for the info....
Maya

It's approx 266L/1 usd at the moment and has stayed around there for a good few months.

Well...on Sep 20 I sold L22,402 (market sell= the best available market offer) end received US$78.33, actually $77.32 after PayPal fee, which is US$1 = L286 - exactly L40 above the Buy rate, ouch! Sarah, with the rate you state I'd receive US$84.22. Is there a 3.5% fee applied or what? Even with a fee it should be more.. (Fees for Selling L$ - Sellers of Linden Dollars pay a fee of 3.5% per transaction. Proceeds will be credited to your US$ account balance.) I can not find any info for the exchange rate and fees applied for this transaction . On the Sell L$ page there is an option to offer sell L but I've never tried this.

I already asked about this on another thread but nobody asnswerd.

Sells are usually at a higher rate than buys; I usually end up selling at around L$277/1 USD. Add that to your percentage rate, and you'll probably get your $78 (I'm too brain dead to do the actual math.)

[Edit: Ok, I'm a dork, I did the math. If you sold at around L$277/dollar, you'd get a return of $80.87. $80.87 * .035 = 2.83. $80.87-$2.83=$78.043, which isn't quite what you got, but it's close. You might have sold at a slightly lower rate.]

The question is: how do I know at what rate did I sell my Lindens? Why there's no info about the rate and any fees applied to the transaction???????? What is that 3.5% fee that is stated on the SL site? I'm really surprised that nobody can answer these questions. Where are you successful business people cashin' out of SL ?

While this doesn't completely answer your question, here's a link to the market data:

https://secure-web14.secondlife.com/currency/market.php

If you look at this, you'll know that your chances of selling at under L$275 are extremely rare unless you want to seriously play the market, which I'm not smart enough to do.

The 3.5% transaction fee is just that: It's a fee that LL charges to everyone who sells L$ on the LindeX. Most RL brokers or exchanges charge fees. It's how they make their money. LL is not profiting on the sale/purchase of the L$ that go through its system. The only way that it makes money off the system is by charging a transaction fee.

As to HOW you find out how much you sold for; that's a good question and could probably be suggested in JIRA as a new feature. Go for it!

I personally sell on LindeX only, but some people sell on SLX (SL Exchange) as well. Ebay is definitely NOT recommended to buy or sell, as it's got a reputation as being a place for laundered L$ (i.e. purchased with stolen credit cards.) There are other exchanges out there and I know one fellow who's working on a new exchange that he hopes will rival LindeX.

If you turn on the LindeX advanced view, you can place a Sell order, which lets you choose the rate at which to sell your Lindens. Of course if you choose too high a rate, nobody will buy them, so you will never get your money. But if you use that, you'll get usually around US$1 per L$267.

A new player might want to cash out in order to recover US$ they bought L$ with if it turned out they didn't like SL. In fact, I wish they'd make aspect of the process easier.

On a sourer note, remember that if you cash out you may have to make tax declarations as appropriate, since you have business income to declare. Often you will not have to pay any more tax, if you are not making that much money, but you will have the hassle of declaring the fact you're not making much.