Would you take advantage of an uninformed seller?

Theo Sulphate · Apr 29, 2015

One day, Fred A. Fotoman dies and his poor widow, Exa, decides to have a yard sale to sell off his equipment. Unfortunately, Exa, who knows little about photography, has no idea what the individual items are really worth. While looking at the items, you come across a Leica M3 which appears to be in good condition, no dents or signs of abuse, and the shutter and rangefinder seem to work. The price tag on the M3 says $20. What do you do?

1. Just take it, since no one is looking anyway.
2. Haggle the price down to $5, telling Exa it's an old film camera no one would use anymore.
3. Buy it for $20 and congratulate yourself on a good deal.
4. Tell Exa it's worth more than $20 and offer a larger amount (e.g. $100-$500).
5. Tell Exa it's worth much more than $20 and either let her research it, or offer to do it yourself and mutually decide on a reasonable price.
6. Something else (explain).

cliveh · Apr 29, 2015

4. Tell Exa it's worth more than $20 and offer a larger amount (e.g. $100-$500).

TheFlyingCamera · Apr 29, 2015

If it's Exa, offer more. If it's a retailer at an antiques mall or somewhere they have an obligation to themselves to do due dilligence and research the value, pony up the $20 and get out of the shop before they have a chance to change their mind.

Rick A · Apr 29, 2015

Tell her what that all her prices are far below value, help her reprice everything, and no thank you, I'm not into Leicas.

vdonovan · Apr 29, 2015

I didn't have much problem with that guy's transaction. Leica R bodies sell for as low at $80 on KEH, and that's with a guarantee! The lenses sell for as low as $200 on Ebay (though the Jesse Owens special edition fetches much more). So it looks like the Goodwill might actually have done their research and come up with a reasonable price. Now if they let someone haggle them down from a reasonable price, that is a matter of the store policy. As long as he didn't outright lie (saying it was broken or that you couldn't get film for it), in my opinion he acted reasonably.

frank · Apr 29, 2015

Take it for $20 from a dealer, but I don't screw old ladies.

Theo Sulphate · Apr 29, 2015

Sorry - I didn't intend the "Goodwill" issue to obfuscate the question. My interest is how people would act towards uninformed sellers (or at least what they'll admit to).

Xmas · Apr 29, 2015

Theo Sulphate said:
Sorry - I didn't intend the "Goodwill" issue to obfuscate the question. My interest is how people would act towards uninformed sellers (or at least what they'll admit to).

So what sort of questions do you ask your congress person?

snapguy · Apr 29, 2015

poor

I think the way you pose the question is poor. Nobody is going to admit ripping off a LOL -- including the people who do. And making it a Leica -- which we all know are made by the gods in the heavens -- well, heaven forbid. Nobody will admit to fouling the work efforts of the gods.

Ken Nadvornick · Apr 29, 2015

Would you take advantage of...

No. Never.

You don't treat others unethically. Period. Even if that means taking a loss. ESPECIALLY if that means taking a loss. Honesty is what happens when no one is looking.

I once worked at a job where I found a misplaced wallet with ~$15,000 in it. Cash and signed negotiable (pay to the bearer) traveler's checks. I held it until the owner returned. Then I quizzed him very, very carefully and triple-checked his ID.

Then I simply returned it to him. No reward required. End of story.

(I was making $1.51/hour at the time, not that it makes a bit of difference.)

Ken

Old-N-Feeble · Apr 29, 2015

I would never take advantage dealing face-to-face or on forums. I always tell the seller if the item is worth more. If they still want to sell too cheaply then I'll buy.

Auctions, and eBay Buy-It-Now listings are very different animals because if the deal is really good then there's no time to inform the seller of their error and if I don't buy the item then someone else will. I've had sellers contact me a few times and ask to back out because they erred on the price. I let them off the hook with no regrets and no hard feelings.

Sirius Glass · Apr 29, 2015

Old-N-Feeble said:
I would never take advantage dealing face-to-face or on forums. I always tell the seller if the item is worth more. If they still want to sell too cheaply then I'll buy. Auctions, and eBay Buy-It-Now listings are very different animals because if the deal is really good then there's no time to inform the seller of their error and if I don't buy it then someone else will. I've had sellers contact me a few times and ask to back out because they erred on the price. I let them off the hook with no regrets and no hard feelings.

Yep. Me too.

Theo Sulphate · Apr 29, 2015

Xmas said:
So what sort of questions do you ask your congress person?

Something to the effect of whether they think the Bill of Rights is about government granting rights to the people or inalienable rights of people which limit government power.

Just for the record, my answer to this poll is: "Tell Exa it's worth much more than $20 and either let her research it, or offer to do it yourself and mutually decide on a reasonable price."

Way back in my 20's, I had the opportunity at a high-end store to buy a brand new HP-41C HP-IL printer at a mis-labelled price of $40. Rather than do that, I told the saleslady it should be about $400.

Jim Jones · Apr 29, 2015

frank said:
Take it for $20 from a dealer, but I don't screw old ladies.

I refer you to Ben Franklin: http://www.swarthmore.edu/SocSci/bdorsey1/41docs/51-fra.html

Old-N-Feeble · Apr 29, 2015

Jim, the head above my shoulders likes older women. The one much lower down does not.

pbromaghin · Apr 29, 2015

If there ever was an expert on the subject, it was old Ben.

ic-racer · Apr 29, 2015

Why is it worth more that $20? Exa isn't a dealer that will support the product. It may cost hundreds of dollars to get the camera in good working condition. Are you thinking of selling it to someone else for more than $20 and keeping the extra money without doing a CLA on it?

Sirius Glass · Apr 29, 2015

Old-N-Feeble said:
Jim, the head above my shoulders likes older women. The one much lower down does not.

Old-N-Feeble · Apr 29, 2015

ir-racer, this is a moral question, not a commercial (business) question, and we don't need to over-think this. Keeping it simple, the OP want's to know how many folks will "take advantage" of an old widow woman who hasn't a clue regarding the value of her deceased husband's belongings. We can assume that the value of the item, whatever that may be, is far greater than what she's asking for it. That is the true crux of the query.

Ko.Fe. · Apr 29, 2015

People are lazy to check prices on-line. All you have to do is to goggle it. Are you willing to help stupid or benefit from it?
Is it so simple?...

Should I go to the manager of the charity store and do their own job for pricing? Or is it priced for people who are going to stores like this because they aren't rich?
Exa is not what stupid as you think. You are running away with her husband gear and it is written on your face. Exa is looking at you and smiling. She knew how much it costs, she managed family budget always and only her husband was naive to believe she doesn't knew how much he paid for it. You are running away with this expensive gear and it reminds her the passed away....

CropDusterMan · Apr 29, 2015

I just went through such a conundrum....
I bought about $6K worth of gear for $700 at an estate sale...was the first guy to show up. I told the gentleman, this gear is worth much more than you're asking.
He said, "Look around, the family doesn't need the money...we are heading into escrow and we need to get rid of this gear ASAP...lets do a package deal".

I felt fine with what he asked for, especially when he told me his father-in-law would like that it all went to a guy like me who loved photography and darkroom
work.

Old-N-Feeble · Apr 29, 2015

Ko.Fe. said:
People are lazy to check prices on-line. All you have to do is to goggle it. Are you willing to help stupid or benefit from it?
Is it so simple?...

Should I go to the manager of the charity store and do their own job for pricing? Or is it priced for people who are going to stores like this because they aren't rich?
Exa is not what stupid as you think. You are running away with her husband gear and it is written on your face. Exa is looking at you and smiling. She knew how much it costs, she managed family budget always and only her husband was naive to believe she doesn't knew how much he paid for it. You are running away with this expensive gear and it reminds her the passed away....

How many eighty-year-old women don't know how to use a computer? Most don't even own one.

Old-N-Feeble · Apr 29, 2015

CropDusterMan said:
I just went through such a conundrum....
I bought about $6K worth of gear for $700 at an estate sale...was the first guy to show up. I told the gentleman, this gear is worth much more than you're asking.
He said, "Look around, the family doesn't need the money...we are heading into escrow and we need to get rid of this gear ASAP...lets do a package deal".

I felt fine with what he asked for, especially when he told me his father-in-law would like that it all went to a guy like me who loved photography and darkroom
work.

Nothing wrong with that. I'd have done the same.

Theo Sulphate · Apr 29, 2015

Ko.Fe. said:
Exa is not what stupid as you think. ... She knew how much it costs, she managed family budget always and only her husband was naive to believe she doesn't knew how much he paid for it. ...

Yeah. There is a true story of a wealthy divorced couple: ex-husband tells ex-wife to sell the Ferrari for him and give him the cash. She knows exactly what it's worth but deliberately sells it for $100.

P.S. Exa is a fictional character - the little sister of Herr Exakta of Dresden.

TheTrailTog · Apr 29, 2015

TheFlyingCamera said:
If it's Exa, offer more. If it's a retailer at an antiques mall or somewhere they have an obligation to themselves to do due dilligence and research the value, pony up the $20 and get out of the shop before they have a chance to change their mind.

+1

If it's a person in need that just doesn't understand/know what they're selling I would speak up about the true value. If it was a dealer or reseller that just didn't do their homework than I'm jumping on the opportunity and counting my blessings!

Would you take advantage of an uninformed seller?

Fred A. Fotoman dies. His widow, Exa, is selling his Leica M3 at a yard sale for $20

Just take it, since no one is looking anyway.

Haggle the price down to $5, telling Exa it's an old film camera no one would use anymore.

Buy it for $20 and congratulate yourself on a good deal.

Tell Exa it's worth more than $20 and offer a larger amount (e.g. $100-$500).

Tell Exa it's worth much more and mutually research & decide on a price.

Something else (explain).

Theo Sulphate

cliveh

TheFlyingCamera

Membership Council

Rick A

vdonovan

frank

Theo Sulphate

Xmas

snapguy

Ken Nadvornick

Old-N-Feeble

Sirius Glass

Theo Sulphate

Jim Jones

Old-N-Feeble

pbromaghin

ic-racer

Sirius Glass

Old-N-Feeble

Ko.Fe.

CropDusterMan

Old-N-Feeble

Old-N-Feeble

Theo Sulphate

TheTrailTog

Would you take advantage of an uninformed seller?

Fred A. Fotoman dies. His widow, Exa, is selling his Leica M3 at a yard sale for $20

Just take it, since no one is looking anyway.

Haggle the price down to $5, telling Exa it's an old film camera no one would use anymore.

Buy it for $20 and congratulate yourself on a good deal.

Tell Exa it's worth more than $20 and offer a larger amount (e.g. $100-$500).

Tell Exa it's worth much more and mutually research & decide on a price.

Something else (explain).

Membership Council

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