The what would you do thread...

Mgarmy

Will tell you what I did after I hear what you would do. 20 minutes ago I come across a beautiful morgan from a gold and pawn shop in St. Louis. They want an obscene amount for an ungraded borderline not super rare coin. While the coin itself is not that rare, it’s condition could be so I throw a 75 percent of asking down the pipe as a flyer. They counter...30 percent lower than my initial bid........I immediately accept and pay. Three minutes later I get an email saying they messed up and would like me to have the sale cancelled. I have already responded. What would you do?

P0CKETCHANGE

The counter was clearly a mistake. I would honor the cancellation request.

DelawareDoons

There is not much you can do. Obviously, it was a mistake. Thus, no meeting of the minds and no legally enforceable contract.

I would reiterate my initial offer.

joeykoins

Look around their shop for a All Sales Are Final sign! LOL

Mgarmy

I concur and told them I am not out to hose anybody. Complicating the situation is I paid immediately as I actually thought I had initially bid close to their counter and did not catch they had underbid my initial offer till they pointed it out. So I told them go ahead and cancel and refund. I have heard crickets since I told them no worries and cancel. So they have not a little bit of money tied up now. I am just a nice guy collector but won’t lie, I wonder how many dealers would be that cool.

Mgarmy

@DelawareDoons said:
There is not much you can do. Obviously, it was a mistake. Thus, no meeting of the minds and no legally enforceable contract.

I would reiterate my initial offer.”

I did the right thing but not sure after I paid there counteroffer and the money changed hands I do not have an enforceable contract. I am no shit house lawyer but seems if I paid on their offer I would have a contract no?

ms70

Just say, "What's your bottom line and let's be done with this."

Smudge

I wouldn’t buy a Morgan so I cannot answer.

No Headlights

Be gracious and allow the cancellation. Hopefully you’ll be rewarded in the future

MasonG

What would you want the other guy to do if you made a mistake?

edited to add...

Their price was $Z, you offered $Z x .75, they countered with ($Z x .75) x .7? That doesn't seem to make any sense at all.

Mgarmy

You all need to read the darn thread from the top. I already let him off the hook because it is the right thing to do. However was sort of hoping after I said ok cancel it they went ahead and cancelled it so I could keep shopping. Now he has my coin allowance tied up

ricko

Yep... I would call them and sort out the details....always better to talk directly under these circumstances. They may even offer a good deal since you did the right thing. Cheers, RickO