Question about trading/sale etiquette

coinpictures

I'm caught in the midst of a situation that I've not encountered before, and in retrospect I'm not sure I handled it well.

I'll leave names out of it. That isn't the point.

Scenario:

Person A contacts me about several coins, asking me if I can do better than the prices listed. I send them my best prices back via PM.

Several hours elapse.

In the interim, Person B contacts me saying "I'll take coins X, Y, and Z at the listed prices." No questions, no hesitation. One of the coins is a coin that person A had expressed interest in.

Am I obligated to person A to sell the coin at a lower price even though we have not even established that they're willing to pay the prices I asked?

I sold the coins to person B since they were the first to commit, and now person A is angry with me.

My thought was that things with person A were still tentative and no one had agreed to anything at that point. If I tell person B that the coin is already spoken for and then person A decides they don't like my best price, I've potentially lost both sales.

Should I have told person B to wait pending the outcome of negotiations with person A? Should I have told person A that I now have a better offer on the coin (a method I personally hate as a buyer)?

How should I have handled this?

satootoko

<< <i>IHow should I have handled this? >>

Exactly as you did IMHO.

The only reasonable alternative I can think of would have been to include a time limit (couple of hours?) in your email to A and stall B until that time had passed. (I don't think I would have done that.)

koincollect

You did right to sell to buyer B who committed. A case might be made for buyer A if he is in another time-zone but still he has to miss out.

Aethelred

Until buyer A says "I'll take them" they are for sale (unless you told buyer A you would hold them), so you did the correct thing in selling to buyer B.

laurentyvan

TextUntil buyer A says "I'll take them" they are for sale (unless you told buyer A you would hold them), so you did the correct thing in selling to buyer B.

You did fine unless you promised to hold them.

MacCrimmon

You sell when you can sell. Person A may have never even responded to your email. You're selling coins; you're not a beggar, pleading for someone to take your coins.

Next time be clear that you will hold for say, 2-4 hours, and then the coins are fair game once again.

wybrit

I have found that most people who ask about a particular coin never come back and finish the deal - in fact in many cases I never hear at all from them again. No brainer. Sell only to a committed buyer.

1960NYGiants

I also believe you sold to the correct person.

The only thing I could think to add to your original mesage to Buyer A is something to the effect of "price is subject to previous sale"

coinpictures

Yeah, I think you're right. Between the responses here and the PMs I got, it doesn't appear that handled it wrong after all, but I should probably have some sort of disclaimer to ward off a situation like this occurring again.

I just hate to load up any sale with all sorts of rules and regulations. It intimidates people...

Thanks for the feedback.

AuldFartte

<< <i>You did fine unless you promised to hold them. >>



I don't think you did anything wrong.