What would you do- a hypothetical quandary?

[yorks5stringer]

Someone I know put some gear up for sale here on Saturday. It was in very good condition and very well priced and is a popular items with buyers. They need the cash to buy something else and don't want to miss out on it.

On Sunday at 10.51 am they get a PM asking where the Seller was based ( presumably someone with BC on mobile?).
At 10.59 Seller responds with address and postcode.

On Monday having heard nothing more back Seller emails at 16.59 with postage cost
Buyer then responds at 17.17 asking for best price and will check with 'her indoors' it's OK to buy
Seller responds at 18.12 , offers to meet halfway as Buyer only 90 minutes away or pay postage cost to help sweeten deal.

After no response 30 hours later at Tuesday 22.18 pm Seller emails potential buyer explaining there is strong interest in item and could they have a decision within 24 hours as there are others in line with acceptable bids.

So the last time the Seller has heard from the potential Buyer was Monday at 17.17. when they were last online.

Having made a great offer to the Buyer and not had any response for 30 hours, how long would you wait for a Buyer to respond before selling to the next in line?

If you are buying/selling, how long do you leave it between PM's?

Edited October 4, 2017 by yorks5stringer

[mentalextra]

First come, first served? It's not sold until the seller is holding the money?

Edited October 4, 2017 by mentalextra

[FinnDave]

Until money has changed hands, the item is still for sale in my book. Expressing an interest, discussing collection/meeting/posting, etc. are not a commitment to buying. Only a deposit or full payment means a sale.

[Steve Browning]

On the info provided I would say the expiry is 22.18 tonight, 24 hours after a decision was requested (within 24 hours). I don't think any other potential buyer woul be put off by that and it demonstrates a good dollop of integrity (not that it needs to be shown necessarily) but the OP's friend suggested the deadline after all.

[dmccombe7]

If i agreed to sell to someone and we agreed a meet for sale then i def wouldn't sell to anyone else unless they never showed. Any delaying tactics i would look at the next offer.
I think you need to use some common sense and allow the buyer some time to make arrangements.

Dave

[la bam]

The way i would do it is:

1. Make it clear the item is not sold until youve received payment in full upfront (paypal etc).
2. Once payment received the seller can pfaff around as much as they want.

Youd be amazed once payment has changed hands how all the delaying etc from the buyer stops!

[stingrayPete1977]

If the buyer is a regular poster with a feedback I might hang on a little while especially if it's an easy to sell item should they never come back, if it was their first post I'd sell it to someone else in a flash.

[chris_b]

My experiences of buying and selling here have mostly been positive and all but a few of the guys have been a pleasure to deal with. Some people will leave a day or even 2 between contacts and others won't wait 10 mins. Some will keep you informed and some don't bother.

When I'm selling I give the first guy who says he wants it a reasonable time to sort himself out, even if that takes a couple of days. If people are talking to you then you can deal with it. If they go silent for a day I just pm them that I'm contacting the other buyers. I did leave some buyers hanging recently. I had a bit of an emergency at home and lost focus on the sales. I still feel bad about that and again apologise to anyone who was affected.

I haven't been messed about by buyers but I have been by sellers, several times! After 2 days of PM's I was arranging to go and collect an amp and the seller "suddenly" remembered he'd promised the amp to someone else! Awhile ago I said I'd have the item and would get back to a seller, but half an hour later he PM'ed me and said it was sold and "I'd lost it". Basically saying tough luck mate! A bit harsh, but what can you do? I think that seller was an a-hole but as a buyer you have very little control and no come back in these situations. Put it down to experience and move on.

[Grangur]

In my view, if buying or selling, the item is still up for grabs by any other buyer until the buyer says "It's a deal. I'll have it. How do I pay you?" And delivery or collection is being discussed.

What the OP has described is all still chat.

[Grangur]

[quote name='FinnDave' timestamp='1507107398' post='3383296']
Until money has changed hands, the item is still for sale in my book. Expressing an interest, discussing collection/meeting/posting, etc. are not a commitment to buying. Only a deposit or full payment means a sale.
[/quote]

If I was going to collect and was going to pay cash, I'd be disappointed if it was sold to someone else. I'd say it's sold when a timed appointment to meet is also a point when it's sold.

[phil.c60]

Have I missed something? There seems to be no indication from the prospective purchaser that he is intending to buy it. He has asked for the location, has asked for the best price, and has said he will need to check before he commits to buying it. Your friend has volunteered a lot of useful information that was not requested, in order it would seem to try and progress a sale. If he has someone else interested and they make a firm offer, it's sold to them. The first one, to me, seems like simply a casual enquiry. First come, with a firm offer and commitment to purchase, is first served.

[FinnDave]

[quote name='Grangur' timestamp='1507112057' post='3383335']
If I was going to collect and was going to pay cash, I'd be disappointed if it was sold to someone else. I'd say it's sold when a timed appointment to meet is also a point when it's sold.
[/quote]

Yes, good point, in many cases, especially when buying or selling here, then a definite 'I'll have it' can be taken as a sale agreed. I have accepted sales and purchases on that basis and never had a moment's trouble.

I was still at least half asleep when I wrote my previous post!

[TheGreek]

I've been in a similar situation a couple of times. I like to offer a timescale - "I've had other interest...if you can't commit before Saturday I'm going to sell elsewhere..." I don't think you can get much fairer.

Basically if you want it then get your finger out or "snooze and you loose".

[Happy Jack]

[quote name='phil.c60' timestamp='1507112113' post='3383336']
Have I missed something? There seems to be no indication from the prospective purchaser that he is intending to buy it. He has asked for the location, has asked for the best price, and has said he will need to check before he commits to buying it. Your friend has volunteered a lot of useful information that was not requested, in order it would seem to try and progress a sale. If he has someone else interested and they make a firm offer, it's sold to them. The first one, to me, seems like simply a casual enquiry. First come, with a firm offer and commitment to purchase, is first served.
[/quote]

Exactly this.

No offer to buy was ever made - your friend had only a potential buyer who asked a couple of questions.

If I asked for the exact weight of the bass you were selling, I wouldn't consider you to be under an obligation to keep the bass for me.

[cheddatom]

[quote name='Grangur' timestamp='1507112057' post='3383335']
If I was going to collect and was going to pay cash, I'd be disappointed if it was sold to someone else. I'd say it's sold when a timed appointment to meet is also a point when it's sold.
[/quote]

I've just been stuck on a Facebook group sale - agreed the sale and arranged the place and approximate time. I confirm within an hour It'll be 7pm and the seller goes cold. 72 hours later and he tells me he's sold it to someone else, and thinks I'm an idiot for getting wound up about it

[KingPrawn]

There are to many buyers, who see something they want so jump on it,having not considered the speed of transaction. The worst ones are those who agree to buy, send monies then change the collection/ delivery goal posts. I had a right one recently who suddenly decided “ collection in person” meant sorting out a courier, wasting hours and f my time with out a thank you. It’s a sellers market.

[dmccombe7]

May be some confusion on this one.

Is the OP not asking what we all do when selling. ?

I'm not sure he's asking what we would do in his specific situation.

Or is he asking for advice on both ?

Dave

Edited October 4, 2017 by dmccombe7

[Dan Dare]

Philc60 and Happy Jack are right. Until you have the money in your hands, it's all words. When people start asking about meeting, delivering inn person, etc, that's a turn-off for me. Apart from the inconvenience, you could arrive and find them waiting with a couple of mates, who take your kit and tell you to get lost. If I want something, I'll travel for it or pay postage and not argue about it. I expect everyone else to do likewise. Being "fair" doesn't come into it, imho.

[miles'tone]

That is not a sale, merely a chat about a sale. If the seller needs a quick sale then sell it to whoever has COMMITTED to the deal first.

To the potential buyer - Snooze, you lose.

[mcnach]

[quote name='mentalextra' timestamp='1507107317' post='3383295']
First come, first served? It's not sold until the seller is holding the money?
[/quote]

This. Unless otherwise agreed. Sometimes a prospective buyer has asked me to hold something for anything between one day to two weeks... Depending on how 'popular' the item is and how much I need the cash I may agree or negotiate other terms. Then I wait. But if nothing is agreed it's first come fist served. When I *really* want something, I let the seller know in no uncertain manner. A lot of people ask you very detailed questions even about postage costs or delivery and then they become silent... you never know in advance, so I don't wait unless asked and agreed.

[T-Bay]

[quote name='Grangur' timestamp='1507111878' post='3383333']
In my view, if buying or selling, the item is still up for grabs by any other buyer until the buyer says "It's a deal. I'll have it. How do I pay you?" And delivery or collection is being discussed.

What the OP has described is all still chat.
[/quote]
Same here, once payment/ collection details are exchanged I will hold for a while but still always respond to anyone else that I will be in touch if it falls through.

[TimR]

Swap phone numbers and do the deal on the phone.

If someone else becomes interested, tell both that there is someone else interested. Keep both informed of the highest offer and give them the opportunity to raise or give a final offer.

If time is of the essence then let them know that, and tell them when you need a descision to be made by.

Job done.

Someone who says they've got to check with their Mrs first, should have checked with their Mrs first before calling you.

24hours is long enough to wait. If they've not replied, I wouldn't chase them.

.

Edited October 4, 2017 by TimR

[Happy Jack]

[quote name='TimR' timestamp='1507146592' post='3383641']

Someone who says they've got to check with their Mrs first, [s]should have checked with their Mrs first before calling you[/s]. is looking for a cheap excuse to back out of the deal.

[/quote]

Fixed.

[dmccombe7]

[quote name='Happy Jack' timestamp='1507191266' post='3383760']
Fixed.
[/quote]

How true is that statement now. Brilliant.

Dave

[Steve Browning]

In the OP case there was a request for a decision within 24 hours. That may not have been necessary but it does imply it's available until those 24 hours have elapsed. I would sell it 1 second after the 24 hours certainly but a timescale was offered voluntarily.