The BST Buyer Disappearing Act

WTCG

I'm certain many of you have listed items for sale on the BST forum when another member commits to buying only to disappear once you contact them to confirm their purchase and payment details. The disappearing act is something I greatly despise as it is to me a sign of bad courtesy and a disrespect for time and punctuality.

So how long should you wait for a response PM before you re-offer the reserved sale items to the next party down the line?

ChrisRx

72 hours.

mattniss

I think 72 hours is fair as well.

adamlaneus

Once one commits to buying, I would think that these details would be confirmed within the hour. But my expectations are probably unrealistic.

dizzyfoxx

48 hours, and that's still too long to wait.

blu62vette

<< <i>72 hours. >>



at the max....

greghansen

The way I handle it is if they don't respond to initial PM or two, I send a final one saying I need to hear from them within 48 hours or I will consider the deal off. I don't really do that much BST, so I actually have only had to do this one time, but I think if in your last effort to reach them, you give them a firm deadline, you've done all you can do to be fair about it.

WTCG

Another point to discuss is perhaps the difference of opinion between dealers and collectors. For a dealer, transactions are more time sensitive whereas collectors may view the buying and selling process as a casual affair.

In my opinion, 24 hours is the maximum wait time allowed unless a prior agreement was reached.

cmerlo1

I had a situation on the BST once where I received an offer and accepted it, then got no response from the potential buyer. After a few days, I accepted another offer for almost the same amount and posted that it was sold. After almost a week since making the offer, the original buyer PM'd me to say that they had been out of town for a non-emergency reason... if this is true, they basically made an offer then left for a week without even checking to see if it had been accepted and to arrange payment and shipping before they left. The coin sold anyway, for a good price, but it's stilll annoying when it happens.

pocketpiececommems

24 hrs is more than reasonable

joebb21

24 hours. If somebody has interest they should follow through.

Swampboy

24 hours is reasonable.
If something came up to keep the buyer away from the forum for so long after initiating a deal he should understand if you've moved on.

Also, for my money WTCG, is at the pinnacle of easy to deal with, fair, and professional BST posters.

BAJJERFAN

<< <i>Once one commits to buying, I would think that these details would be confirmed within the hour. But my expectations are probably unrealistic. >>




+1 but 12 hours or overnight should be more than enough. If he/she doesn't leave word about when they will seal the deal, I'd move on quickly.

BAJJERFAN

<< <i>I had a situation on the BST once where I received an offer and accepted it, then got no response from the potential buyer. After a few days, I accepted another offer for almost the same amount and posted that it was sold. After almost a week since making the offer, the original buyer PM'd me to say that they had been out of town for a non-emergency reason... if this is true, they basically made an offer then left for a week without even checking to see if it had been accepted and to arrange payment and shipping before they left. The coin sold anyway, for a good price, but it's stilll annoying when it happens. >>



These days unless you are visiting an underground coal mine, there is no excuse not to check in and leave a message.

renomedphys

Been there. I'm usually not so forgiving. Until the buyer confirms with a simple agreement to the terms explicitly, I consider it fair game to any other buyer to come in and buy it out from under the first responder.

jdimmick

I agree with Wei,

If they can make up there mind or commit within 24 hours, then forget em. I also keep that in mind for any future dealings. Dealers have a business to run, cant wait on folks to think about whether or not they want it and lose a potential sale to somebody else. I use the same philosphy in the store.

pendragon1998

24 hours works for me. It's really frustrating when you have someone make some noise about something, then disappear; meanwhile another perfectly good buyer will express interest and want to pay immediately, but the first guy is off in PM limbo. Matter of fact, I think I'll start including something about this in my communications when selling.

"Item will be reserved for 24 hours from the time of this message, while payment details are arranged. If I have not heard from you in 24 hours, the item will be made available to the next interested party."

CoinJunkie

<< <i>Another point to discuss is perhaps the difference of opinion between dealers and collectors. For a dealer, transactions are more time sensitive whereas collectors may view the buying and selling process as a casual affair.

In my opinion, 24 hours is the maximum wait time allowed unless a prior agreement was reached. >>



Another difference between collectors and dealers: the latter should probably explicitly list their terms and
conditions. Pick some number of hours you are comfortable waiting, and state what that number is. Cut
and dried. Meanwhile, if someone else inquires, you can give them a definite time as to when you'll have
an answer about the coin's availability.

Just my $.02.

MarkInDavis

I like 24 hours. Seems like more than enough. If I were selling on BST I would list this and other policies right in the
listing.

piecesofme

This has been discussed many times. 12-24 hours seems to be the accepted timeframe unless otherwise specified when working the deal out with the other party. If the seller "forgot" to bring it up before finalizing the deal, i'd say 24 hours then because as the seller, you forgot to mention it. Otherwise, 12 hours is my guideline now.

quattrocoins

Once, when I had about a half dozen coins listed in one thread, I got a PM from a member, stating, "I would like to buy your ___ ______.
I replied, inquiring how he would like to pay for it, and put the coin on hold - pending sale.

Never heard back from the person.

After waiting 2 days for a reply, I took the coin off "hold" and it sold shortly after that.

I must say that I was a little leery, right off the bat, given the wording of the PM.

After all, I "would like to buy" an MS67FH 1916 Standing Lib. or a $50 Pan Pac, but it ain't gonna happen!

IMO, people like that are inconsiderate, and a real PITA!

Outhaul

I had a board member PM me telling me he wanted on a coin I was selling on the BST. We agreed on a price and I didn't hear from him for a couple of days. I even sent him a PM, but no response.

Someone else PMd me and made me an offer on it and I sold it to him. Needless to say, when the original buyer contacted me a couple days later and I told him that I sold it to someone else, he pitched a major beach. He was a real wiseass as well.

Cheers,

Bob

COINB0Y

<< <i>48 hours, and that's still too long to wait. >>

pakasmom

Agree with 24 hours - MAX.

I'v got a pile of true dimension 1"x11"x9' tongue and groove lumber that I want to get rid of. Guy told me he'd love to have it. I haul it out and stack it - over a week ago! It's killing a spot on my lawn and seriously bumming me out. (I don't feel I can give it to someone else until I can talk to the first guy that accepted.)

It's lame and rude.

SportsModerator

24hrs is more than sufficient time in my opinion. After this time has elapsed, the deal is dead.

Bochiman

Just like a similar thread towards the end of 2010, I still feel this is up to each person.
I do try to get right back to folks, but there have been times when things have come up (work/family/issues) and I haven't gotten back for a day or two.
If they sell it out from under me, then I live with it. If they don't want to wait a reasonable amount of time (define reasonable...it's different for everyone), I won't pitch a fit, but I will remember it.

The things I hate aren't the "disappearing buyer", but the "disappearing WTB poster" who never responds. I keep note of those and ignore them in the future. I don't sell, to sell, but when I do sell, I would at least appreciate a "sorry, not at this time" to folks I reach out to.
For example, late last month, someone posted a WTB. I had some dupes and pinged them back in a PM. Never heard a peep. That's what I don't like.

JupitarCoins

I had a situation where I had accepted an offer and the buyer said he really wanted the item. After a few days and no response from him I sent another pm and he stated he still wanted it. After four more days he then wrote me back saying he had an emergency and did not want the item. Needless to say I will no longer do business with him on the bst.

drwstr123

Hey Wei, hope all is well for you. The impatience of this board is underwhelming. Patience my friend.
It doesn't seem one fits all. Many things happen and I go on a case by case. Some transactions are quick,
some have taken months. So what?
Mike

Teva

Just spell out your terms on your listings that way no one
could accuse you of not being fair when it comes to a commitment?

itsnotjustme

I had a member agree to buy, but need some time to gather the funds. I agreed to wait as I was happy with the price. Weeks later he still did not have the money, but was going to use his tax return. Then he got bammed. Then he contacted me under an alt, but still did not pay. Then the alt was bammed. Meanwhile, I quit actively selling. 10 months later, another meber contacted me saying someone was interested in coins I had for sale.... same person, using a go-between. Get into e-mail contact, and he proposes a much lower price than previously agreed. No deal.... here is our prior agreement. With just one coin removed, the $400 sale completed!

So, to answer, 72 hours is adequate.... but longer might work in the end!

notwilight

Until he says the check is in the mail I don't take the listing down. --jerry

speety

I could see 48 hours. If an emergency came up, i could see where it may be over 24 hours.

ChrisRx

I only say 72 hours because of a weekend. Other than that 24-48 hours.

roadrunner

24 hrs is reasonable. Stretching it for a weekend makes sense too.

If it involves gold or silver coins that are routinely affected by that day's spot price, then the time limit should be by the next market open. I'm not going to allow someone to place a hold on a $20 Saint while they wait to see which way the market moves the following morning.

roadrunner

robkool

Unfortunately, as a buyer... It happens a lot.

PinkFloyd

I think 48hrs-72 hrs is reasonable, but yes, as a seller, I'd prefer something quicker than that.

If you're really trying to move something along, it's probably a good thing to put in the terms of the agreement on BST. Not many post specific terms on BST and and they should. "If no response in 24 hrs, I'll pass it on to offer #2" or something along those lines.

Bochiman

<< <i>I had a situation where I had accepted an offer and the buyer said he really wanted the item. After a few days and no response from him I sent another pm and he stated he still wanted it. After four more days he then wrote me back saying he had an emergency and did not want the item. Needless to say I will no longer do business with him on the bst.
>>




Yeah...his emergency was likely that he couldn't find someone to buy it from him, at a higher price, and so he didn't want it to flip.....


Teva said: Just spell out your terms on your listings that way no one
could accuse you of not being fair when it comes to a commitment?

Totally agree! If they are spelled out in the listing, nice, short, and sweet, then there should be no issues, right?

rlarick

<< <i>Totally agree! If they are spelled out in the listing, nice, short, and sweet, then there should be no issues, right? >>



yeah, like don't ask for pictures!

TwoSides2aCoin

I don't have problems over there. 99% of my transactions are buys.

jmdm1194

24 to 48 hrs at a max and if they do not follow through add them to a "do not do business with again" list. Kinda like eBay's blocked list.