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Obligation to buy?

piecesofmepiecesofme Posts: 6,669 ✭✭✭
in Precious Metals
Is there any "obligation" on a CU members part when they tell you if you come across any of, let's just say a certain thing,...tell you what they are willing to pay for it and that price is good for an undefined time period, and then about a week later when you take the time and effort to seek out what the member wants, purchase it, and then when getting back with the member they say they don't want it...is that cool?
I feel stuck with something I would have not typically purchased for myself. Any recourse to this or should I just not ever, ever deal again with that member and move on?
I'm honestly not calling anyone out, and will not name names, just want to know how others would feel given the same circumstances.
To forgive is to free a prisoner, and to discover that prisoner was you.

Comments

  • DoubleEagle59DoubleEagle59 Posts: 8,307 ✭✭✭✭✭
    No recourse.

    All you get out of the deal is knowing this person's word is garbage.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • jmski52jmski52 Posts: 22,824 ✭✭✭✭✭
    Sound to me as if the terms of the agreement weren't clear, to the extent that there wasn't really an agreement. In other words, I think that it's a lesson learned, but at the same time - I'd be having a little chat with that member to ascertain what the understanding should be or should have been. Borderline uncool if he actually authorized you to "go looking". But that is the question - did he?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • TheBigBTheBigB Posts: 942 ✭
    If they placed a shopping order with you, yes they should stick to it. You probably have no recourse and I would drop that contact, except for cash and carry.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    I was told what i said in the OP.
    "If you find any of these, I am willing to pay $X".

    No timeframe was determined, but what they were willing to pay was specifically said. It was only 7-10 days at most by the time I found what was requested (maybe requested isnt the right word).
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Know who your dealing with! A quick phone call before putting your $$ out will never hurt.

    I know you know value of good communication. Obligation grey area at best. IMHO.
    Avid collector of GSA's.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    You're right to some extent Tim. I don't typically keep board members phone numbers in my cell phone though and sometimes when you come across a kind of rare and unique item, you buy it, when someone has told you that if you do come across it what they will pay. Agreed?
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    If I bought it like that Rich I would trust who I was dealing with and I know the few I trust would make good on itimage

    PM sent.
    Avid collector of GSA's.
  • SmallTownCoinsSmallTownCoins Posts: 688 ✭✭
    Coin Shops deal with this stuff every day...
    Customer comes in says I'll take such and such for this price,
    We go find items, call buyers and there is always an excuse to not buy....
    I can fill a show case with stuff that is, graded too high, graded too low,
    not graded correcly, wrong holder, blah, blah, blah....
    Just part of the business, everything sells eventually....

    No recourse, sell it to someone else... :-)
    Support your local Coin Shop
    LM-ANA3242-CSNS308-MSNS226-ICTA
  • nam812nam812 Posts: 10,579 ✭✭✭✭✭
    Did you make sure to buy it at a price that would allow you to sell it via a different avenue with no loss?

    I have a customer for cards that sends emails me his want lists, and we have an agreed upon pricing schedule in place. That said, I never buy anything for him at a price that I wouldn't be able to move it somewhere else because he also fills his want list from time to time (but at a very slow pace).

    Most of the time it works out nicely, but there was one time when I emailed him and he told me he already picked that card up. Obviously I had no "recourse", but I politely asked him to email me new want lists when he fills something in on his own. Like I mentioned above, the card(s) were bought at a price I could move it via another avenue without a loss.

    These are just my experiences.
  • stuckonnightsstuckonnights Posts: 26
    I would say who the person is. Maybe this person has a history of doing this and I believe that would be frowned upon in this community.
  • stuckonnightsstuckonnights Posts: 26
    Most of the time it works out nicely, but there was one time when I emailed him and he told me he already picked that card up. Obviously I had no "recourse", but I politely asked him to email me new want lists when he fills something in on his own. Like I mentioned above, the card(s) were bought at a price I could move it via another avenue without a loss

    Is the buyer then required to let you know that they have purchased the card and you should stop looking for it? Sounds like in your case the buyer did. It does not in piecesofme case. There is a difference there.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    I would say who the person is. Maybe this person has a history of doing this and I believe that would be frowned upon in this community.

    I will not do that. That would not be very unprofessional of me to do..at this point. I am not really out anything, just left holding the bag.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • stuckonnightsstuckonnights Posts: 26
    I will not do that. That would not be very unprofessional of me to do..at this point. I am not really out anything, just left holding the bag.

    You are out the money you said you would not have typically paid for it/them.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭


    << <i>Coin Shops deal with this stuff every day...
    Customer comes in says I'll take such and such for this price,
    We go find items, call buyers and there is always an excuse to not buy....
    I can fill a show case with stuff that is, graded too high, graded too low,
    not graded correcly, wrong holder, blah, blah, blah....
    Just part of the business, everything sells eventually....

    No recourse, sell it to someone else... :-) >>



    +1
    Avid collector of GSA's.
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    Always a good idea to confirm interest before taking any action.













    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Thanks to all for the input to this point. Just wanted to know how others would feel. Seems mixed for the most part. Guess I just gotta learn from it...again. image
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • dontippetdontippet Posts: 2,606 ✭✭✭✭
    Would the recent increase in PM prices have anything to do with the buyer "changing their mind".
    > [Click on this link to see my ebay listings.](https://www.ebay.com/sch/i.html?_nkw=&amp;_in_kw=1&amp;_ex_kw=&amp;_sacat=0&amp;_udlo=&amp;_udhi=&amp;_ftrt=901&amp;_ftrv=1&amp;_sabdlo=&amp;_sabdhi=&amp;_samilow=&amp;_samihi=&amp;_sadis=15&amp;_stpos=61611&amp;_sargn=-1&saslc=1&amp;_salic=1&amp;_fss=1&amp;_fsradio=&LH_SpecificSeller=1&amp;_saslop=1&amp;_sasl=mygirlsthree3&amp;_sop=12&amp;_dmd=1&amp;_ipg=50&amp;_fosrp=1)
    >

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  • CaptHenwayCaptHenway Posts: 32,118 ✭✭✭✭✭
    "A verbal contract isn't worth the paper it's printed on!"
    Sam Goldwyn

    Just politely tell the guy you won't do business with him anymore and move on.

    MOO

    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>Is there any "obligation" on a CU members part when they tell you if you come across any of, let's just say a certain thing,...tell you what they are willing to pay for it and that price is good for an undefined time period >>



    in the future agree on a defined price for a defined period of time. if it's something you are locating, get cell numbers and have a converstaion.

    you upheld your end and the buyer felt like he didn't have to.

  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    If you don't have in stock what they want, going out and buying it and then hoping they still want it later is too risky. If someone asks you to find something for them, I'm sure they expect you to contact them before you commit them by purchasing it. Especially after a week. How do you know they haven't found it elsewhere. Buying it on their behalf without a commitment from them is a mistake on your part, don't expect them to be responsible.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • PerryHallPerryHall Posts: 46,113 ✭✭✭✭✭


    << <i>Always a good idea to confirm interest before taking any action. >>



    Bingo!! This is the only practical course of action. Even then, you may be stuck if the customer doesn't like the merchandise for some reason.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • CaptMorganCaptMorgan Posts: 145
    I would just try to sell the piece and write the experience off as good karma. You tried to do something for someone else. That gets you good mojo I think
  • morgantypemorgantype Posts: 456
    everything is well said - you have no recourse, but knowledge about who to NOT deal with is the valuable part of this...
    Many buy and sell transactions. Let's talk!
  • BochimanBochiman Posts: 25,377 ✭✭✭✭✭
    No. I don't think there is an obligation. It is a "wish list".
    Unless the "seller" is commiting to getting the product, no matter what, then there is no final agreement.

    I would suggest having the person's contact info for calling them to confirm before you buy for them. I did this last year for someone who wanted Australian Lunar series 1 oz silver pieces for his set. I found some, got a quote on the price, then went out to call him as I wanted to make sure he hadn't already gotten them and that he still wanted them at that price.

    And, I too, have been slightly burned by buying what someone said they wanted and then they didn't, which is why I changed my tactics for helping.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Thanks for the advice folks. What I am really taking away from this experience is to be more sure before I buy what someone on the internet tells me they want, and to not deal with the person that backed out on me, because that's what it is, a back out.
    I was told if I found some they would buy at a set price, and now they don't want them. That aint right in my book, but as I said, I am taking in all of your advice and it is appreciated.
    To forgive is to free a prisoner, and to discover that prisoner was you.
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