@Mgarmy said:
This guy is a seagull, not worth the time spent responding. He will be gone soon as there is nothing coming out worth trying to flip. BST take note
I don't buy or sell here. Just a private collector here for the numismatic banter, thanks honey.
@SonnyD said:
I'll play the other side. I've been burned before, I've been given prices by dealers over the phone and when I arrive within the hour they have an excuse as to why the coin is now higher....and not by just a few dollars. Very frustrating but they didn't get my money and I don't do business with them anymore. So if you don't really care about doing continual business with them...take YOUR money and walk.
Anything being "pre-sold" I can wait a year for the market to settle on for a decent price after release.
So, you approve of the way this dealers treated you?
This is a silly argument and horrible advice. It's like saying that since your father slapped you, it's okay to slap your neighbors father.
Two wrongs don't make a right.
Just the way it goes sometimes....
If a car dealership says they'll give me a price on a car when it comes out and I find another dealership with a lesser price I'm taking my money where I can get the most value.
A car dealership telling you that they’ll give you a price on a car when it comes out, isn’t remotely similar to an agreement on a purchase at a particular price.
So when I was buying a Chevelle from a dealer that just bought at auction and we agreed upon $75k but when I show up the next day he wants $85,000 because another buyer "called in today"...that's not the same?
The scenario I replied to is very different from the one you just posted. First you posted “that they’ll give you a price on a car when it comes out”. As written, that doesn’t amount to an agreement or a verbal contract. Then you posted “> So when I was buying a Chevelle from a dealer that just bought at auction and we agreed upon $75k but when I show up the next day he wants $85,000 because another buyer "called in today"...that's not the same?” As you worded it, that was an agreement. Words make a big difference.
So a coin dealer can verbally set a price when a coin comes out but a car dealer can't? Mmmmmk >
Anyone can set a price on anything. But without additional information, there’s no agreement. You’re not being clear.
So I guess if this guy were wanting to but a coin and the dealer said ya know what, I have a guy that said he'll but it for more than our verbal agreement. Y'all would say, well it's his coin he can sell it to whoever....right?
I believe that both verbal and written agreements should be honored. And if someone agrees to buy or sell something, he should follow through, even if it turns out that he could do better by backing out of the agreement.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
"He that sweareth to his own hurt, and changeth not" Psalm 15
If prices change based on fluctuating values especially those based on precious metals, contracts should be honored, otherwise commerce would be impossible in that area. If there is any fraud in a contract, ie a seller who sells an over graded, counterfeit item, etc. then the contract is null and void (Nudd v. Burrows).
Good faith and honest dealings are integral to real contracts.
If a commitment is made and a firm number is agreed upon then it is a done deal, whether it goes up or down the price is already agreed upon. I made such a deal with a person I had no doubt about whether he or I would follow thru. It is a big advantage to do business with some one you trust. I won't mention his name but I would some times take a little less because of our mutual trust then even have to consider how a deal would end up.
Al
If you can’t afford a loss you should not be collecting coins. However you frame it going back on a deal shows bad character. I just ponied up 200 for one. I’m not running off saying I need my money back. Heck it’s worth it to me to deal with an honest person. Plus I gave up on the mint to flustrating. I’d rather pay the vig than deal
With that flustration of that government agency. And I would not knowingly deal with you either
i never said i was going to try and get a lower price. I said it was a passing thought as i am sure it has been with people who are paying $450.00 for the coin. I paid without complaint and love the coin. I only brought this discussion up because i am sure a lot of people are thinking about this. I have bought lots of stuff off bst, ebay and other websites. Not one time did i not pay, unlike some of the people who have made deals with me but never paid. To attack my integrity is unfair as you dont know me. I believe in the golden rule and will match my integrity and honesty with anyone on this board.
@Larrob37 said:
i never said i was going to try and get a lower price. I said it was a passing thought as i am sure it has been with people who are paying $450.00 for the coin. I paid without complaint and love the coin. I only brought this discussion up because i am sure a lot of people are thinking about this. I have bought lots of stuff off bst, ebay and other websites. Not one time did i not pay, unlike some of the people who have made deals with me but never paid. To attack my integrity is unfair as you dont know me. I believe in the golden rule and will match my integrity and honesty with anyone on this board.
Honestly, it's not criminal to ask. The problem is that your purchase can't be viewed in isolation. If u sell a bunch of coins at $250, I might go out and buy more at $200. So if the $250 buyers then want to pay $150, I'm losing money on coins I only bought to supply them.
@Larrob37 said:
To attack my integrity is unfair as you dont know me. I believe in the golden rule and will match my integrity and honesty with anyone on this board.
To be fair, you did say:
"The problem is i was taught that my word is my bond and i should honor the original price agreed on."
Living up to your word may be difficult, but it shouldn't be a problem.
Thats why i paid without a problem because i gave this seller my word. It was not difficult to live up to my word but the sensible side of me questioned my actions but never a doubt that i was going to pay the full price. I just think its human nature to question yourself on that decision. I have a hard time believing that out of everybody that has done presales , none had this same thought.
@Larrob37 said:
Thats why i paid without a problem because i gave this seller my word. It was not difficult to live up to my word but the sensible side of me questioned my actions but never a doubt that i was going to pay the full price. I just think its human nature to question yourself on that decision. I have a hard time believing that out of everybody that has done presales , none had this same thought.
I'm sure many did. I prebought at $150 on the Morgans. The coins are retailing for less than that.
No surprise, 100% of my people came through. A few years ago on the ERP I prebought for $500 when no one was paying near that. Upon release the coins spiked in price to $900. Only half of my locks on this very forum came through.
@jmlanzaf said:
A few years ago on the ERP I prebought for $500 when no one was paying near that. Upon release the coins spiked in price to $900. Only half of my locks on this very forum came through.
I just looked up Tort Laws and according to the Internet you are Legally Bound to the agreement and said Seller could and would WIN in a Court of Law. Not only that but with your admission here everything you say could and would be used against you! Just saying. I am no Lawyer but you might want to consult Counsel.
I am sure you are referring to the new morgans. I have a customer (also a club member)who ordered all 10, and made agreements with several other folks in the area, many are bailing on their original agreement. Dos'nt surprise me, as I know how people are.
In this business, a deal is a deal. If I had made an agreement I would have honored it. I only had 3 of each of the o and cc's, but never presold mine becuase I wasnt sure if I would even get one with cc exipration deal. Ended up getting that corrected Now that the price has fallen, there still sitting here in the shipping box.
I have had that happen from time to time on bullion in the store, people call wanting some, then say theyll come by the next day, and if price falls, they bail . I just refuse to do business with them going forward. In fact, now I don't hold bullion at all. if they dont come get it that day within the hour or so, they dont get it.
@Larrob37 said:
I guess i should have added that if the coin had gone up i would have expected the seller to want to negotiate or cancel the sell. I am not saying this particular seller would have done either but as a rule i believe some would have. I did in fact pay the original price without contacting seller and am happy with the coin.
Probably should have advised in the initial post that this was a hypothetical question so responders would not have been confused thinking that advice was being sought.
That said, a little confused about what was meant by the price dropping. Was a price guide such as the one on this website being referenced? Was the reference simply to the price of gold or silver going up or down?
@1northcoin
You are right as i wasnt clear on it being a hypothetical question instead of looking for advice. The price dropping i was referring to involved being able to get the coins on the net for a much cheaper price. I probably should not have looked. One good thing is now i should be able to pick up the other mint marks at a reasonable price.
@Larrob37.... Really late to this discussion, but glad you honored your commitment....It was the right thing to do. I respect your decision. Cheers, RickO
@Larrob37 said:
Thats why i paid without a problem because i gave this seller my word. It was not difficult to live up to my word but the sensible side of me questioned my actions but never a doubt that i was going to pay the full price. I just think its human nature to question yourself on that decision. I have a hard time believing that out of everybody that has done presales , none had this same thought.
I'm sure many did. I prebought at $150 on the Morgans. The coins are retailing for less than that.
No surprise, 100% of my people came through. A few years ago on the ERP I prebought for $500 when no one was paying near that. Upon release the coins spiked in price to $900. Only half of my locks on this very forum came through.
I remember you buying the ERP vividly. So many thought you were nuts to be paying that. It did not take long though for buying members to start matching or even exceeding your offer. & it made me decide to buy as many presales as I could on Ebay for between $200 to $400----about half cancelled later. Less then I thought would though.
@Larrob37 said:
Thats why i paid without a problem because i gave this seller my word. It was not difficult to live up to my word but the sensible side of me questioned my actions but never a doubt that i was going to pay the full price. I just think its human nature to question yourself on that decision. I have a hard time believing that out of everybody that has done presales , none had this same thought.
I'm sure many did. I prebought at $150 on the Morgans. The coins are retailing for less than that.
No surprise, 100% of my people came through. A few years ago on the ERP I prebought for $500 when no one was paying near that. Upon release the coins spiked in price to $900. Only half of my locks on this very forum came through.
I remember you buying the ERP vividly. So many thought you were nuts to be paying that. It did not take long though for buying members to start matching or even exceeding your offer. & it made me decide to buy as many presales as I could on Ebay for between $200 to $400----about half cancelled later. Less then I thought would though.
Yes. It is not uncommon. It's not a surprise. It doesn't, however, make it right.
I now know who I would and wouldn't lock in in the future. That's also why I have honored 100% of my $150 buys on the Morgans. I'm a little high at this point, but it is important to me that people know that I won't back out on them even if prices crash.
One thing I've noticed about coin collecting is that it's a little like Science. Its actually a fairly small community and if you compromise your integrity, it's very difficult if not impossible to get it back. I'd honor the commitment and go through with the sale... is your honor and integrity worth $100?
Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;
@jesbroken said:
Deal was made. End of story. Now if the coin upon receipt is not worthy of the grade, different story, different rules.
Jim
It’s all about what the parties agreed to. If no stipulation was made regarding the condition of the coin, the story and rules should still be the same. Both buyer and seller took the risk that the coin could be of better or worse quality than anticipated. That said, if, for example, the coin was a Mint order and had an unusually bad flaw, I’d hope that seller would allow the buyer to rescind the transaction.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
The op does not give the total for the coin. So I dont know how material the drop in MV is. Certainly he got hosed by a non controllable event.
Does he really want the coin or just worried about the deal? He needs to make a decision he will take the deal as is or phone them and cancel (not taking the hit). Not my place do that for him. If he cancels then he can forget that dealer (who won’t be very happy) as a source.
Tom was hosed at a show one time many years ago as a newbie telling a customer he would sell a coin in his case (at a show) at CDN ask $350. The customer came back the next day with a friend (double team him) with a just updated CDN show had handed out to public pressing for a lower price. Tom had not received his in the mail. The coin had gone down $75. Furious (show giving this info to the public) at being blindsided Tom told them “if you think they will ship you the coin send them a check.” Mike (friend and mentor) sharing a table with Tom quietly told him “dont tell them basis of your price and if they try talk you down below what you will take just say this lowest consignor will go. I can’t believing them giving the public info we don’t have - those (curses). Yes Tom made the customer unhappy but he was not going to take a hit, especially after being blindsided.
Sometimes at a show a customer will ask me hold a coin for him while he looks around the bourse. I put the coin out of sight in a bank bag in case he comes back. Whatever the outcome I want to keep my word. If something goes down I want the sale / cash flow and the loss is simply a non controllable part of the biz.
@Cougar1978 said:
After sleeping on it OP. Do what is on your best interests. There is no toft in this. Look out for number 1.
Situations change due to market conditions. If the item dropped fairly materially I question investing in it period.
So now that you’ve had time to sleep on it, you think that in looking out for number 1, the buyer should renege on an agreement if the market goes against him?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@Cougar1978 said:
After sleeping on it OP. Do what is on your best interests. There is no toft in this. Look out for number 1.
Situations change due to market conditions. If the item dropped fairly materially I question investing in it period.
So now that you’ve had time to sleep on it, you think that in looking out for number 1, the buyer should renege on an agreement if the market goes against him?
@Cougar1978 said:
After sleeping on it OP. Do what is on your best interests. There is no toft in this. Look out for number 1.
Situations change due to market conditions. If the item dropped fairly materially I question investing in it period.
So now that you’ve had time to sleep on it, you think that in looking out for number 1, the buyer should renege on an agreement if the market goes against him?
I wouldn't necessarily refuse to buy from someone who thinks like this (Look out for number 1). I would, however, insist on having the item in hand before rendering payment.
There is nothing wrong looking out for number 1, beats getting exploited, hosed lol. Furthermore coin deals like (what u seem to be forgetting lol) that can be subject to changes in market conditions (MV going down!). There is no free ride in numismatics and the seller unfortunately may be out of luck. The op has every right back away from the deal or see if an adjustment can be worked out.
@Cougar1978 said:
There is nothing wrong looking out for number 1, beats getting exploited, hosed lol. Furthermore coin deals like (what u seem to be forgetting lol) that can be subject to changes in market conditions (MV going down!). There is no free ride in numismatics and the seller unfortunately may be out of luck. The op has every right back away from the deal or see if an adjustment can be made.
The WHOLE point of making a deal at a given moment in time is to lock in the current market and have the deal agnostic to future changes, regardless of which party they favor. Making an agreement in good faith and holding it is a far cry from being exploited or hosed.
@Cougar1978 said:
There is nothing wrong looking out for number 1, beats getting exploited, hosed lol. Furthermore coin deals like (what u seem to be forgetting lol) that can be subject to changes in market conditions (MV going down!). There is no free ride in numismatics and the seller unfortunately may be out of luck. The op has every right back away from the deal or see if an adjustment can be made.
Honoring an agreement to buy a coin at a set price, with each party understanding that it could be a good/bad deal for the buyer/seller, doesn’t amount to being exploited or hosed. Nor would that be a free ride for the seller. It would, however, be a free ride for buyers, if they only honor such agreements if price movements work to their advantage.
The OP has no legal or ethical right to back out of the deal. Fortunately, at least HE seems to understand that.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@Cougar1978 said:
There is nothing wrong looking out for number 1, beats getting exploited, hosed lol. Furthermore coin deals like (what u seem to be forgetting lol) that can be subject to changes in market conditions (MV going down!). There is no free ride in numismatics and the seller unfortunately may be out of luck. The op has every right back away from the deal or see if an adjustment can be made.
The WHOLE point of making a deal at a given moment in time is to lock in the current market and have the deal agnostic to future changes, regardless of which party they favor. Making an agreement in good faith and holding it is a far cry from being exploited or hosed.
Your kidding lol. I think a drop of $100 is a material enough reason for him to consider the issue. Unfortunately we don’t know the total price of the item, but it must be material to him and that is what matters.
Comments
I don't buy or sell here. Just a private collector here for the numismatic banter, thanks honey.
Ounce by ounce the stack grows .
I believe that both verbal and written agreements should be honored. And if someone agrees to buy or sell something, he should follow through, even if it turns out that he could do better by backing out of the agreement.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Come on guys. Don't keep feeding the troll.
Worry is the interest you pay on a debt you may not owe.
But we're hungry
Never thought wanting someone to get something at a good price would catch such blowback...geez
Ounce by ounce the stack grows .
He would get an even better deal if he just stole it.
Petty theft is where this troll draws the line
Ounce by ounce the stack grows .
If you think that living up to your agreements is a problem, that would be a problem.
"He that sweareth to his own hurt, and changeth not" Psalm 15
If prices change based on fluctuating values especially those based on precious metals, contracts should be honored, otherwise commerce would be impossible in that area. If there is any fraud in a contract, ie a seller who sells an over graded, counterfeit item, etc. then the contract is null and void (Nudd v. Burrows).
Good faith and honest dealings are integral to real contracts.
Using a car salesmen as a proxy for ethical behavior probably isn’t the best benchmark.
Challenging to believe your word; your bond can be sold for $100.00
peacockcoins
If a commitment is made and a firm number is agreed upon then it is a done deal, whether it goes up or down the price is already agreed upon. I made such a deal with a person I had no doubt about whether he or I would follow thru. It is a big advantage to do business with some one you trust. I won't mention his name but I would some times take a little less because of our mutual trust then even have to consider how a deal would end up.
Al
Funny thing, one of the posters actually did the same thing to me…
Tried to renegotiate after he paid and received the coin… but yet his response is a deal is a deal…
Idiot.
Or perhaps less.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
If you can’t afford a loss you should not be collecting coins. However you frame it going back on a deal shows bad character. I just ponied up 200 for one. I’m not running off saying I need my money back. Heck it’s worth it to me to deal with an honest person. Plus I gave up on the mint to flustrating. I’d rather pay the vig than deal
With that flustration of that government agency. And I would not knowingly deal with you either
Martin
i never said i was going to try and get a lower price. I said it was a passing thought as i am sure it has been with people who are paying $450.00 for the coin. I paid without complaint and love the coin. I only brought this discussion up because i am sure a lot of people are thinking about this. I have bought lots of stuff off bst, ebay and other websites. Not one time did i not pay, unlike some of the people who have made deals with me but never paid. To attack my integrity is unfair as you dont know me. I believe in the golden rule and will match my integrity and honesty with anyone on this board.
Honestly, it's not criminal to ask. The problem is that your purchase can't be viewed in isolation. If u sell a bunch of coins at $250, I might go out and buy more at $200. So if the $250 buyers then want to pay $150, I'm losing money on coins I only bought to supply them.
To be fair, you did say:
"The problem is i was taught that my word is my bond and i should honor the original price agreed on."
Living up to your word may be difficult, but it shouldn't be a problem.
Thats why i paid without a problem because i gave this seller my word. It was not difficult to live up to my word but the sensible side of me questioned my actions but never a doubt that i was going to pay the full price. I just think its human nature to question yourself on that decision. I have a hard time believing that out of everybody that has done presales , none had this same thought.
I'm sure many did. I prebought at $150 on the Morgans. The coins are retailing for less than that.
No surprise, 100% of my people came through. A few years ago on the ERP I prebought for $500 when no one was paying near that. Upon release the coins spiked in price to $900. Only half of my locks on this very forum came through.
I'm sure they all had real good reasons.
I just looked up Tort Laws and according to the Internet you are Legally Bound to the agreement and said Seller could and would WIN in a Court of Law. Not only that but with your admission here everything you say could and would be used against you! Just saying.
I am no Lawyer but you might want to consult Counsel.
I am sure you are referring to the new morgans. I have a customer (also a club member)who ordered all 10, and made agreements with several other folks in the area, many are bailing on their original agreement. Dos'nt surprise me, as I know how people are.
In this business, a deal is a deal. If I had made an agreement I would have honored it. I only had 3 of each of the o and cc's, but never presold mine becuase I wasnt sure if I would even get one with cc exipration deal. Ended up getting that corrected Now that the price has fallen, there still sitting here in the shipping box.
I have had that happen from time to time on bullion in the store, people call wanting some, then say theyll come by the next day, and if price falls, they bail . I just refuse to do business with them going forward. In fact, now I don't hold bullion at all. if they dont come get it that day within the hour or so, they dont get it.
Probably should have advised in the initial post that this was a hypothetical question so responders would not have been confused thinking that advice was being sought.
That said, a little confused about what was meant by the price dropping. Was a price guide such as the one on this website being referenced? Was the reference simply to the price of gold or silver going up or down?
@1northcoin
You are right as i wasnt clear on it being a hypothetical question instead of looking for advice. The price dropping i was referring to involved being able to get the coins on the net for a much cheaper price. I probably should not have looked. One good thing is now i should be able to pick up the other mint marks at a reasonable price.
@Larrob37.... Really late to this discussion, but glad you honored your commitment....It was the right thing to do. I respect your decision. Cheers, RickO
unlikely, but a deal is a deal (unless on ebay where you can return)
Give Me Liberty or Give Me Debt
I remember you buying the ERP vividly. So many thought you were nuts to be paying that. It did not take long though for buying members to start matching or even exceeding your offer. & it made me decide to buy as many presales as I could on Ebay for between $200 to $400----about half cancelled later. Less then I thought would though.
Yes. It is not uncommon. It's not a surprise. It doesn't, however, make it right.
I now know who I would and wouldn't lock in in the future. That's also why I have honored 100% of my $150 buys on the Morgans. I'm a little high at this point, but it is important to me that people know that I won't back out on them even if prices crash.
One thing I've noticed about coin collecting is that it's a little like Science. Its actually a fairly small community and if you compromise your integrity, it's very difficult if not impossible to get it back. I'd honor the commitment and go through with the sale... is your honor and integrity worth $100?
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
Here is the truth. In ten years you will be posting it here and bragging about how smart you were to buy it during the Pandemic of 2021.
bob
You’re not alone / a lot of people overpaid for the 2020 Morgan’s
I’ve always taken my word seriously on any agreement. Whether the price increases in my favor or not, if I say I’m doing a certain number, I’ll do it.
My YouTube Channel
I'd pay high 5 figures for a 2020 Morgan 😈
Deal was made. End of story. Now if the coin upon receipt is not worthy of the grade, different story, different rules.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
It’s all about what the parties agreed to. If no stipulation was made regarding the condition of the coin, the story and rules should still be the same. Both buyer and seller took the risk that the coin could be of better or worse quality than anticipated. That said, if, for example, the coin was a Mint order and had an unusually bad flaw, I’d hope that seller would allow the buyer to rescind the transaction.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
We wouldn’t be having this discussion if the price had increased $100. 🤔
A: The year they spend more on their library than their coin collection.
A numismatist is judged more on the content of their library than the content of their cabinet.
Well, the seller would be posting asking the converse question.
The op does not give the total for the coin. So I dont know how material the drop in MV is. Certainly he got hosed by a non controllable event.
Does he really want the coin or just worried about the deal? He needs to make a decision he will take the deal as is or phone them and cancel (not taking the hit). Not my place do that for him. If he cancels then he can forget that dealer (who won’t be very happy) as a source.
Tom was hosed at a show one time many years ago as a newbie telling a customer he would sell a coin in his case (at a show) at CDN ask $350. The customer came back the next day with a friend (double team him) with a just updated CDN show had handed out to public pressing for a lower price. Tom had not received his in the mail. The coin had gone down $75. Furious (show giving this info to the public) at being blindsided Tom told them “if you think they will ship you the coin send them a check.” Mike (friend and mentor) sharing a table with Tom quietly told him “dont tell them basis of your price and if they try talk you down below what you will take just say this lowest consignor will go. I can’t believing them giving the public info we don’t have - those (curses). Yes Tom made the customer unhappy but he was not going to take a hit, especially after being blindsided.
Sometimes at a show a customer will ask me hold a coin for him while he looks around the bourse. I put the coin out of sight in a bank bag in case he comes back. Whatever the outcome I want to keep my word. If something goes down I want the sale / cash flow and the loss is simply a non controllable part of the biz.
Make it a mix of 5 UHR and 1933 Saints and mine may be available.
After sleeping on it OP. Do what is on your best interests. There is no toft in this. Look out for number 1.
Situations change due to market conditions. If the item dropped fairly materially I question investing in it period.
So now that you’ve had time to sleep on it, you think that in looking out for number 1, the buyer should renege on an agreement if the market goes against him?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Maybe it was not a restful sleep....
I wouldn't necessarily refuse to buy from someone who thinks like this (Look out for number 1). I would, however, insist on having the item in hand before rendering payment.
There is nothing wrong looking out for number 1, beats getting exploited, hosed lol. Furthermore coin deals like (what u seem to be forgetting lol) that can be subject to changes in market conditions (MV going down!). There is no free ride in numismatics and the seller unfortunately may be out of luck. The op has every right back away from the deal or see if an adjustment can be worked out.
The WHOLE point of making a deal at a given moment in time is to lock in the current market and have the deal agnostic to future changes, regardless of which party they favor. Making an agreement in good faith and holding it is a far cry from being exploited or hosed.
Honoring an agreement to buy a coin at a set price, with each party understanding that it could be a good/bad deal for the buyer/seller, doesn’t amount to being exploited or hosed. Nor would that be a free ride for the seller. It would, however, be a free ride for buyers, if they only honor such agreements if price movements work to their advantage.
The OP has no legal or ethical right to back out of the deal. Fortunately, at least HE seems to understand that.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Your kidding lol. I think a drop of $100 is a material enough reason for him to consider the issue. Unfortunately we don’t know the total price of the item, but it must be material to him and that is what matters.
This is a great thread. It helps me determine which forum members are honest and which aren't to be trusted to honor an agreement.
Worry is the interest you pay on a debt you may not owe.
Your parents must be so proud.
Leave my parents out of it bottom feeder.