ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

Zirotti · 16 February 2010, 06:53 AM

Here is the scenario...

Seller A lists a watch for sale. Buyer X says I will give you $1 and agreed to meet locally. Before you meet, Buyer Y says I will give you $2 and also agrees to meet locally. Do you tell Buyer X about Buyer Y's offer and ask him to match or are you already under obligation to sell to X?

When buying a house, the highest bidder wins period. Is it a faux pas to do the same when selling a watch?

sbux · 16 February 2010, 06:54 AM

of course you could but wonder if first buyer would back off

smallcandle · 16 February 2010, 06:56 AM

Karma - proceed cautiously...

robsteve · 16 February 2010, 06:56 AM

Quote:

Originally Posted by Zirotti

When buying a house, the highest bidder wins period. Is it a faux pas to do the same when selling a watch?

It is just like selling a house. Once you accept the buyers offer, you have sold it. In other words, if you said to buyer A his offer was acceptable, I think you have to meet with him and give him the chance to buy it at the price he offered.

Robert

Nicko · 16 February 2010, 06:57 AM

Meet buyer Y first!

If you promised the watch to buyer X then IMO you are obligated morally to accept his offer.

Quote:

Originally Posted by Zirotti

Here is the scenario...

Seller A lists a watch for sale. Buyer X says I will give you $1 and agreed to meet locally. Before you meet, Buyer Y says I will give you $2 and also agrees to meet locally. Do you tell Buyer X about Buyer Y's offer and ask him to match or are you already under obligation to sell to X?

When buying a house, the highest bidder wins period. Is it a faux pas to do the same when selling a watch?

Zirotti · 16 February 2010, 07:00 AM

The reason I ask is that I have been on both sides of this. Just curious. I already know what I am going to do but wanted to get others opinions.

kilyung · 16 February 2010, 07:04 AM

Sell it to the first accepted offer.

Sincerely,
Buyer X

Nicko · 16 February 2010, 07:04 AM

Quote:

Originally Posted by Zirotti

The reason I ask is that I have been on both sides of this. Just curious. I already know what I am going to do but wanted to get others opinions.

Are you looking for absolution? If you already know what you're going to do then why bother asking?

Zirotti · 16 February 2010, 07:06 AM

Quote:

Originally Posted by Nicko

Are you looking for absolution? If you already know what you're going to do then why bother asking?

Why are 75% of the threads posted on here? :)

Just curious as to how most of the folks would handle it here. I have a feeling of what the unpopular answer would be :)

Nicko · 16 February 2010, 07:08 AM

Quote:

Originally Posted by Zirotti

Why are 75% of the threads posted on here? :)

Just curious as to how most of the folks would handle it here. I have a feeling of what the unpopular answer would be :)

Well, ok then we gave you our answer...Now, it's your turn.

2005rivers · 16 February 2010, 07:09 AM

If you agree to a price, then you should sell it for that price to that person. It could be looked at as a verbal agreement for them to buy that watch for that price, unless you stipulate otherwise, you are obligated to hold your agreement as is the buyer. It has been a while since b-law, but I think that was the main point.

Zirotti · 16 February 2010, 07:11 AM

Of course I am going to meet Buyer X first. We talked on the phone and he asked what my best price would be, which I told him and he said it was what he wanted to spend. If he still wants the watch, it's a done deal IMO.

With that being said, I don't think it's "bad karma" or "wrong" for someone to take the highest offer. Business is business.

Anyone who has traded with me knows I am pretty easy to deal with.

Idle Swede · 16 February 2010, 07:12 AM

If you're a gentleman and a man of your word you stick with the original buyer until he backs out of the deal.

Just my personal opinion and worth exactly what you paid for it.

sakuraba · 16 February 2010, 07:13 AM

From my point of view:

as the seller in this scenario I would commit to the purchase with Buyer X, but would tell Buyer Y that he gets 2nd dibs if the deal falls apart.

As for buying etiquette, Buyer X has commited to buying if he offers to meet at a price and the seller accepts. Deal only falls apart if the Seller misrepresents.

Hope this helps.

Zirotti · 16 February 2010, 07:13 AM

Quote:

Originally Posted by sakuraba

From my point of view:

as the seller in this scenario I would commit to the purchase with Buyer X, but would tell Buyer Y that he gets 2nd dibs if the deal falls apart.

As for buying etiquette, Buyer X has commited to buying if he offers to meet at a price and the seller accepts. Deal only falls apart if the Seller misrepresents.

Hope this helps.

Which is exactly what the plan is.

spuds · 16 February 2010, 07:15 AM

Quote:

Originally Posted by Idle Swede

...Just my personal opinion and worth exactly what you paid for it.

It took me a second but that's actually pretty succinct!

hhh007 · 16 February 2010, 07:15 AM

If you already agreed to the price of $1.00 with buyer X and set up a meet to conclude the transaction, then IMO you are obliged to tell buyer Y the watch is already sold pending your meeting with buyer X, however you will give him second shot should the transaction fall through. I also don't see any need to inform buyer X that you subsequently received a higher offer before concluding the transaction.

Evan614 · 16 February 2010, 07:16 AM

You can always meet the first buyer and when he looks at it.. point out all the scuffs before the money changes hands. See if he will back out... only issue is.. if the second buyers bails on you... you're hosed.

So I suggest you accept your first offer for less and not sweat the difference.

my

Nicko · 16 February 2010, 07:16 AM

Quote:

With that being said, I don't think it's "bad karma" or "wrong" for someone to take the highest offer. Business is business.

Bad Karma it is mate, sorry to say it. Yeah, taking the highest offer makes the best business sense, but it's not always about money, now is it?

Zirotti · 16 February 2010, 07:19 AM

Quote:

Originally Posted by Nicko

Bad Karma it is mate, sorry to say it. Yeah, taking the highest offer makes the best business sense, but it's not always about money, now is it?

Did you not read what said I was planning on doing?

Second, I don't believe in karma :)

Nicko · 16 February 2010, 07:20 AM

This really pisses me off, the same thing happened to me about 6 years ago with something I was collecting at the time. I did the deal on eBay, they guy accepted my money and then after about 3 days he comes back and tells me the package was stolen out of the car when he was on his way to the post office. Well, I was searching on eBay and fond the same item that ended with a BIN for more money! I emailed the SOB and he gave me some cock and bull story. IMO your word is everything.

Nicko · 16 February 2010, 07:21 AM

Quote:

Originally Posted by Zirotti

Did you not read what said I was planning on doing?

Second, I don't believe in karma :)

Yes, I did, our posts crossed. As for Karma, well, believe what you want.

Zirotti · 16 February 2010, 07:22 AM

Quote:

Originally Posted by Nicko

This really pisses me off, the same thing happened to me about 6 years ago with something I was collecting at the time. I did the deal on eBay, they guy accepted my money and then after about 3 days he comes back and tells me the package was stolen out of the car when he was on his way to the post office. Well, I was searching on eBaay and fond the same item that ended with a BIN for more money! I emailed the SOB and he game me some cock and bull story. IMO your word is everything.

Agreed, that is a bunch of bullshit. If the guy would have been straight with you, it is a completely different story.

At the end of the day, my word is gold. But I can understand and don't judge others for taking the deal that makes the best business sense. I guess that comes with what I do everyday for a living.

swissautopro · 16 February 2010, 07:24 AM

Where I come from, a man's word is his bond. If you strike a deal with someone, you should hold up your end of the deal, IMHO, even after a better offer comes along. To me, it is no different than me making someone an offer on, let's say, a watch. The seller says, "let me think it over". Then, someone else calls, offers him less, but he tells offer #2 about my offer to get #2 to increase his offer. #2 meets my offer and gets the watch. IMHO, you don't do business that way.

Did someone mention Karma?

Down here, we call that "what goes around comes around". And ... it always comes around. Do the right thing. You can't put a price on that.

BASSETHOUNDS · 16 February 2010, 07:24 AM

This one could well end up in mudslinging between the immoral , free market minded , the gentlemen , the ones wanting to be more catholic then the pope and other hypocrites ... till one of the MOD's closes it .. I'll sit back and watch .

Zirotti · 16 February 2010, 07:26 AM

Quote:

Originally Posted by BASSETHOUNDS

This one could well end up in mudslinging between the immoral , free market minded the gentlemen , the ones wanting to be more catholic then the pope and other hypocrites ... till one of the MOD's closes it .. I'll sit back and watch .

Haha, I realized that about 3 posts after I started the thread. I may just PM some of the mods and be preemptive.

People get way too emotional about somethings.

swissautopro · 16 February 2010, 07:26 AM

Quote:

Originally Posted by BASSETHOUNDS

This one could well end up in mudslinging between the immoral , free market minded the gentlemen , the ones wanting to be more catholic then the pope and other hypocrites ... till one of the MOD's closes it .. I'll sit back and watch .

I hope not, Tristan, but you could very well be right.

Nicko · 16 February 2010, 07:26 AM

Quote:

Originally Posted by BASSETHOUNDS

This one could well end up in mudslinging between the immoral , free market minded the gentlemen , the ones wanting to be more catholic then the pope and other hypocrites ... till one of the MOD's closes it .. I'll sit back and watch .

mike408 · 16 February 2010, 07:29 AM

I would give buyer X first right of refusal at the agreed upon price.
Buyer Y would have next shot.

A housing scenario would be entirely very different, the highest qualified offer wins.
An all cash offer or mostly cash offer near your selling price is better than a full offer using
20-10% cash down/finance scenario where a deal may fall through due to financing/non-appraisal.

nauticajoe · 16 February 2010, 10:14 AM

Business is business! Ethically, one must meet with buyer X, but let them know that there is a buyer Y that is offering +1. See if they bite. Good luck!

16 February 2010, 06:53 AM	#1
Zirotti "TRF" Member Join Date: Oct 2009 Real Name: Jason Location: Tejas Watch: Invicta Posts: 1,066	Buying/selling etiquette? Here is the scenario... Seller A lists a watch for sale. Buyer X says I will give you $1 and agreed to meet locally. Before you meet, Buyer Y says I will give you $2 and also agrees to meet locally. Do you tell Buyer X about Buyer Y's offer and ask him to match or are you already under obligation to sell to X? When buying a house, the highest bidder wins period. Is it a faux pas to do the same when selling a watch?

16 February 2010, 07:24 AM	#24
swissautopro "TRF" Member Join Date: Dec 2008 Real Name: Mike Location: South Carolina Watch: 3.3M 1655 Mk I Posts: 2,384	Where I come from, a man's word is his bond. If you strike a deal with someone, you should hold up your end of the deal, IMHO, even after a better offer comes along. To me, it is no different than me making someone an offer on, let's say, a watch. The seller says, "let me think it over". Then, someone else calls, offers him less, but he tells offer #2 about my offer to get #2 to increase his offer. #2 meets my offer and gets the watch. IMHO, you don't do business that way. Did someone mention Karma? Down here, we call that "what goes around comes around". And ... it always comes around. Do the right thing. You can't put a price on that. __________________ "A little sleep, a little slumber, a little folding of the hands to rest, and poverty will come upon you like a bandit, and scarcity like an armed man." Proverbs 24 "It is better to remain silent and be thought a fool, than open your mouth and remove all doubt." Unknown "Better to be a nobody and yet have a servant than pretend to be somebody and have no food." Proverbs 12

16 February 2010, 06:54 AM	#2
sbux "TRF" Member Join Date: Oct 2009 Location: USA Posts: 303	of course you could but wonder if first buyer would back off

16 February 2010, 06:56 AM	#3
smallcandle "TRF" Member Join Date: Mar 2009 Real Name: Brian Location: Kansas Watch: 16610, Omega PO Posts: 1,898	Karma - proceed cautiously...

16 February 2010, 07:00 AM	#6
Zirotti "TRF" Member Join Date: Oct 2009 Real Name: Jason Location: Tejas Watch: Invicta Posts: 1,066	The reason I ask is that I have been on both sides of this. Just curious. I already know what I am going to do but wanted to get others opinions.

16 February 2010, 07:04 AM	#7
kilyung 2024 SubLV41 Pledge Member Join Date: Jul 2009 Location: Cave Watch: Sundial Posts: 33,940	Sell it to the first accepted offer. Sincerely, Buyer X

16 February 2010, 07:09 AM	#11
2005rivers Member Join Date: Jan 2010 Location: texas Watch: GMT Master IIc Posts: 545	If you agree to a price, then you should sell it for that price to that person. It could be looked at as a verbal agreement for them to buy that watch for that price, unless you stipulate otherwise, you are obligated to hold your agreement as is the buyer. It has been a while since b-law, but I think that was the main point.

16 February 2010, 07:11 AM	#12
Zirotti "TRF" Member Join Date: Oct 2009 Real Name: Jason Location: Tejas Watch: Invicta Posts: 1,066	Of course I am going to meet Buyer X first. We talked on the phone and he asked what my best price would be, which I told him and he said it was what he wanted to spend. If he still wants the watch, it's a done deal IMO. With that being said, I don't think it's "bad karma" or "wrong" for someone to take the highest offer. Business is business. Anyone who has traded with me knows I am pretty easy to deal with.

16 February 2010, 07:12 AM	#13
Idle Swede Suspended Join Date: Oct 2008 Real Name: Leo Location: Boca Raton Posts: 13,820	If you're a gentleman and a man of your word you stick with the original buyer until he backs out of the deal. Just my personal opinion and worth exactly what you paid for it.

16 February 2010, 07:13 AM	#14
sakuraba "TRF" Member Join Date: May 2009 Real Name: Jib Location: SJ, California Watch: sun dial Posts: 8,189	From my point of view: as the seller in this scenario I would commit to the purchase with Buyer X, but would tell Buyer Y that he gets 2nd dibs if the deal falls apart. As for buying etiquette, Buyer X has commited to buying if he offers to meet at a price and the seller accepts. Deal only falls apart if the Seller misrepresents. Hope this helps.

16 February 2010, 07:15 AM	#17
hhh007 "TRF" Member Join Date: Jan 2010 Real Name: Howard Location: Midwest Watch: 18078 Posts: 604	If you already agreed to the price of $1.00 with buyer X and set up a meet to conclude the transaction, then IMO you are obliged to tell buyer Y the watch is already sold pending your meeting with buyer X, however you will give him second shot should the transaction fall through. I also don't see any need to inform buyer X that you subsequently received a higher offer before concluding the transaction.

16 February 2010, 07:16 AM	#18
Evan614 "TRF" Member Join Date: Dec 2009 Location: Buckeye Nation Watch: out 4 Panerai bug Posts: 414	You can always meet the first buyer and when he looks at it.. point out all the scuffs before the money changes hands. See if he will back out... only issue is.. if the second buyers bails on you... you're hosed. So I suggest you accept your first offer for less and not sweat the difference. my

16 February 2010, 07:20 AM	#21
Nicko Banned Join Date: Aug 2009 Location: Not here anymore Posts: 4,787	This really pisses me off, the same thing happened to me about 6 years ago with something I was collecting at the time. I did the deal on eBay, they guy accepted my money and then after about 3 days he comes back and tells me the package was stolen out of the car when he was on his way to the post office. Well, I was searching on eBay and fond the same item that ended with a BIN for more money! I emailed the SOB and he gave me some cock and bull story. IMO your word is everything.

16 February 2010, 07:24 AM	#25
BASSETHOUNDS Banned Join Date: Oct 2009 Real Name: Tristan Location: GIRONA , SPAIN Watch: 116520/660/710/334 Posts: 7,147	This one could well end up in mudslinging between the immoral , free market minded , the gentlemen , the ones wanting to be more catholic then the pope and other hypocrites ... till one of the MOD's closes it .. I'll sit back and watch .

16 February 2010, 07:29 AM	#29
mike408 "TRF" Member Join Date: Jan 2010 Location: bay area Posts: 7	I would give buyer X first right of refusal at the agreed upon price. Buyer Y would have next shot. A housing scenario would be entirely very different, the highest qualified offer wins. An all cash offer or mostly cash offer near your selling price is better than a full offer using 20-10% cash down/finance scenario where a deal may fall through due to financing/non-appraisal.

16 February 2010, 10:14 AM	#30
nauticajoe "TRF" Member Join Date: Feb 2010 Real Name: Joe Location: PA Posts: 14,774	Business is business! Ethically, one must meet with buyer X, but let them know that there is a buyer Y that is offering +1. See if they bite. Good luck!

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)