Quick hypothethical buying and selling question

wheatguy

Imagine this scenario: Someone sees a nice coin on the BST. Let's say the seller is selling a coin for $50. You have seen numerous examples of the same go for $80-$90 on eBay and know you can make a quick profit, and so you bought the coin on the BST and sold it on eBay. Would you consider this unethical in any way given that the seller just wants to move it and is aware it is a good deal?

coinguy1

<< <i>Imagine this scenario: Someone sees a nice coin on the BST. Let's say the seller is selling a coin for $50. You have seen numerous examples of the same go for $80-$90 on eBay and know you can make a quick profit, and so you bought the coin on the BST and sold it on eBay. Would you consider this unethical in any way given that the seller just wants to move it and is aware it is a good deal? >>

As described, there is nothing unethical about the buyer's actions.

smokincoin

No. It's capitalism.

Ahrensdad

No issues. Buyer paid the sellers ask. Buyer used his/her knowledge to his/her advantage. Buyer became a seller at a higher price, made money, can buy more coins. And the circle of life continues...

wheatguy

Thanks for all the opinions. As PerryHall once mentioned, I wouldn't do very well as a dealer, filled with guilt over every profit I make.

Hopefully I can get rid of that instinct.

coinguy1

<< <i>Thanks for all the opinions. As PerryHall once mentioned, I wouldn't do very well as a dealer, filled with guilt over every profit I make.

Hopefully I can get rid of that instinct. >>

Take two aspirin and sell the coin for a loss - you'll feel much better.

Walkerguy21D

I know that a number of my coins are later resold for a profit. It doesn't bother me, as in most cases I made a fair margin. I must say though that I get much greater satisfaction by selling a nice coin to an appreciative collector who adds it to his set and cherishes it.

LindeDad

That's the only way you can get people over there to buy stuff. If you don't under price it it goes for waiting.

SamByrd

no ethical issue whatsoever not even slightly. both sides performed.

MsMorrisine

no, because you did not use the word "rip" in your story.

illini420

I've sold several coins on the BST that folks then put up on eBay... some of them made a nice profit and a few lost... didn't bother me a bit since I got the price I was asking and I was wasn't willing to do the work and take the risks involved in messing around with eBay for the chance at a few extra bucks.

lkeigwin

<< <i>I wouldn't do very well as a dealer, filled with guilt over every profit I make. >>

Stick around. That is likely to change (not the guilt thing...the profit thing).
Lance.

rld14

Funny this should come up... A Chevrolet dealer sold me a used Tundra, something he did not know the market on. Found out today that he thought he clocked me on it. I probably paid $3,000 less for the truck than it would do at auction. In other words, I willingly and gladly paid his ask and was tickled pink to do so.

For all you know the BST seller might have $10 in the coin.

SDSportsFan

I would have absolutely no problem with that, if I was the original seller. For one thing, the BST seller has no fees to worry about. The seller on ebay however, has to pay fees from both ebay and Paypal, cutting into his/her net proceeds.


Steve

Type2

It's your coin do what you want with it. It's no different then buying from the Mint. And selling it on the bay.

RGJohn

<< <i>I've sold several coins on the BST that folks then put up on eBay... some of them made a nice profit and a few lost... didn't bother me a bit since I got the price I was asking and I was wasn't willing to do the work and take the risks involved in messing around with eBay for the chance at a few extra bucks. >>



Exactly. A member here recently got just such a deal from me. I believe he will keep and esteem the coin but whether he keeps it one minute or 100 years is no business of mine.