Market Feedback Best time to exit a deal

[Mann]

When is the best time to come out of a deal in the market section?
1)When you have met the asking price of the seller and the sell doesn't confirm. Can the seller backout of the deal?
2) When there is agreement between the two, date and time set and the buyer travels 2hrs to the destination and the seller backs off because there is a better offer on OLX
3) When the buyer sends a token amount for confirmation and the seller backed off, sells it at a profit and returns the token amount.
4) When the buyer pays full amount, which the seller uses at leisure and after getting a better deal returns to the buyer.

These are the possible things which lie on the grey line of a deal being fine or fraud according to me.
Inputs from all specially the mods would be highly appreciated.

Points brought forward by other members:-
A)when a partial agreement is met and the buyer stops replying?

 

[Rezep]

Title made me look twice

 

[Slayer88]

All your scenarios are from a buyer standpoint, what about sellers?

What about when a partial agreement is met and the buyer stops replying?

 

[Mann]

All your scenarios are from a buyer standpoint, what about sellers?

What about when a partial agreement is met and the buyer stops replying?

You are right.
Adding it to the list

Title made me look twice

Anything to get everyone's attention.

 

[kartikoli]

You are right.
Adding it to the list

Anything to get everyone's attention.

they will get disappointed after reading the content inside

 

[rdst_1]

Everyone will be different and their decisions will be based on their past experiences and present day circumstances.
For example, for me a verbal commitment is usually enough and I would give the other person 1 day to make the payment. Till then, I will not entertain other offers even if they are higher or making quicker payment.
However, a seller who has been burnt too many times by waiting for buyers who later back out, probably won't wait as he has had bad experiences in the past.
Similarly, consider a person who is making a distress sale and needs financial help. That person will justifiably back out of a deal (this should be before any money changes hand) if he is getting a better price elsewhere. Going back on a deal, once money has changed hands, is a strict no-no for me, unless there are logistical issues in making the delivery.
Just my 2 cents.

 

[Mann]

Title made me look twice

Did you jinxed it?

Everyone will be different and their decisions will be based on their past experiences and present day circumstances.
For example, for me a verbal commitment is usually enough and I would give the other person 1 day to make the payment. Till then, I will not entertain other offers even if they are higher or making quicker payment.
However, a seller who has been burnt too many times by waiting for buyers who later back out, probably won't wait as he has had bad experiences in the past.
Similarly, consider a person who is making a distress sale and needs financial help. That person will justifiably back out of a deal (this should be before any money changes hand) if he is getting a better price elsewhere. Going back on a deal, once money has changed hands, is a strict no-no for me, unless there are logistical issues in making the delivery.
Just my 2 cents.

Seems you are a gentleman and the above doesn't apply to you.

Some people on the forum already know this firsthand being on the sending or receiving end.

 

[red dragon]

I've only sold one item in this forum ( the first Samsung galaxy tablet) The buyer was a thorough gentleman, since I didn't even have online banking at that time, he arranged to pay in cash through another person in Kolkata!!
That was my one and only transaction in this forum and India itself.
However bought many used audio/ studio gear in Europe. Never had a major issue as buyer, in fact got some great deals on wired headphones after the wireless revolution.

 

[Mann]

Thread 'RTX 3070 Colorful iGame Ultra W OC-V' https://techenclave.com/threads/rtx-3070-colorful-igame-ultra-w-oc-v.200723/
Maybe @RoBoGhOsT can enlighten us where does the deal stand on the above list.
I'm guessing point no.3

 

[RoBoGhOsT]

Thread 'RTX 3070 Colorful iGame Ultra W OC-V' https://techenclave.com/threads/rtx-3070-colorful-igame-ultra-w-oc-v.200723/
Maybe @RoBoGhOsT can enlighten us where does the deal stand on the above list.
I'm guessing point no.3

The seller said he changed his mind. But i dont think one posts a thread without fully deciding to sell something. Also, one should try to stick to a deal once confirm and paid..

 

[Mann]

Thread 'RTX 3080 FE' https://techenclave.com/threads/rtx-3080-fe.200693/
This one was at point no.2

But i dont think one posts a thread without fully deciding to sell something. Also, one should try to stick to a deal once confirm and paid..

Both extremely valid points

 

[roofrider]

The seller said he changed his mind. But i dont think one posts a thread without fully deciding to sell something. Also, one should try to stick to a deal once confirm and paid..

I was afraid napster's post about how you can flip it for higher after buying (which is deleted now) might cause something like this. Maybe he realized he can sell it for much higher or he's just being honest. Either way, other uses should also be careful when commenting on how great (or not) a deal is. It can cause sellers to change their mind unless they are upright and really have no intention to scalp for higher.

 

[Mann]

I was afraid napster's post about how you can flip it for higher after buying (which is deleted now) might cause something like this. Maybe he realized he can sell it for much higher or he's just being honest. Either way, other uses should also be careful when commenting on how great (or not) a deal is. It can cause sellers to change their mind unless they are upright and really have no intention to scalp for higher.

That is where your wisdom lies. Pricing something too high and it becomes a meme or pricing it low and then regretting it later , it should be priced just right, like in the three little bears

 

[rdst_1]

That is why I keep asking everyone to follow the rules and not make any OT or 'not allowed' posts in the Marketplace. Unnecessary comments can spoil the deal for both buyer and seller. Let the market be truly free.

 

[Slayer88]

That is why I keep asking everyone to follow the rules and not make any OT or 'not allowed' posts in the Marketplace. Unnecessary comments can spoil the deal for both buyer and seller. Let the market be truly free.

The saddest part is, the ones who moral police will most often than not be the hardest bargainers. And whats worse are the people who price police when they don't have the slightest intention of buying the item.

 

[puns]

For me whenever I have been a buyer or seller, its in the way they communicate or not communicate when it comes to the deal or giving details.
I know then and there that its not going to work out and I exit.

 

[Mann]

For me whenever I have been a buyer or seller, its in the way they communicate or not communicate when it comes to the deal or giving details.
I know then and there that its not going to work out and I exit.

Such people can never have a conflict.

 

[skoka123]

In 2003 when I was relocating to India from US I had a lot of stuff to get rid off. I had my stuff listed on buy/sell notice boards of various companies. I listed the price along with the items for sale. People called me, came home looked at the item and simply paid in cash. No bargaining at all. The items I sold were dining table/chairs, Sofa sets, Mattresses, Cots, APS Camera etc. The one incident I do remember was when an afro American lady came all by herself and her little daughter to buy my Sofa Set. She brought a u-haul truck and loaded it all herself. Then when she saw the Desktop PC she asked if I was going to sell. She needed it for her daughter. I gave away the desktop and few games at a throw away price.

The only sour incident was selling to Indians. There was this one guy who had been pestering me to sell him a remote controlled pedestal fan for $5 when I bought it for $40. He kept telling me it is a waste in India (I had booked a container for other stuff). He also wanted me to give away my utensils to him. In the end I distributed the stuff to my friends for free.

All my deals on TE and E have been really smooth.

 

[rdst_1]

In 2003 when I was relocating to India from US I had a lot of stuff to get rid off. I had my stuff listed on buy/sell notice boards of various companies. I listed the price along with the items for sale. People called me, came home looked at the item and simply paid in cash. No bargaining at all. The items I sold were dining table/chairs, Sofa sets, Mattresses, Cots, APS Camera etc. The one incident I do remember was when an afro American lady came all by herself and her little daughter to buy my Sofa Set. She brought a u-haul truck and loaded it all herself. Then when she saw the Desktop PC she asked if I was going to sell. She needed it for her daughter. I gave away the desktop and few games at a throw away price.

The only sour incident was selling to Indians. There was this one guy who had been pestering me to sell him a remote controlled pedestal fan for $5 when I bought it for $40. He kept telling me it is a waste in India (I had booked a container for other stuff). He also wanted me to give away my utensils to him. In the end I distributed the stuff to my friends for free.

All my deals on TE and E have been really smooth.

I've heard how many people abroad, don't like even entertaining Indians and other foreigners, who are known to bargain a lot. My friend had a hard time when he was buying his first car over there as most people would not even entertain his offer because they thought he would bargain later.
I used to be someone who wouldn't bargain myself, but I've changed a little over the years. Especially when buying new stuff, I always try to either find the distributor, or bargain with the retailers because there is always margin for discount in the MRP.

 

[thegoodsamaritan]

I tend to work out all details of a deal as far as possible over texts, and once a mutual confirmation is achieved, it's then that I share my number to the other person to take it further.

There are definitely times when I've posted an item for sale, and later wonder whether it's worth selling and buying something else, or if I'd get another stuff in time or not, but once a buyer confirms, ready to pay, I try not to delay further.

When I cancel a deal, is if we agree upon a price, everything is fine, and then the buyer at the time of buying (face-to-face) tries to lowball. I'd walk away.

For other deals where I'm shipping, I try to get the cash in before I ship, and pay full before the seller ships. Also, in such cases I get them to contact me on facebook and check whether they are in fact true or not.

Unless someone specified the price to be fixed and firm, I generally assume a wiggle room for negotiation, and as a buyer try to squeeze out what I can to a comfortable extent.
Again, as a seller if I'm not firm on the price, I am open to reasonable negotiations.

I find it better to strike a deal in the present than to wait longer - the opportunity cost, time waited and wasted, entertaining other offers etc are not worth the hassle, and anyway, today's money is definitely more previous and valuable than the same tomorrow!