I have a coin I am selling.....

+1

I will only add that the hand holding in our society is ridiculous. Caveat Emptor should rule. A fool and his money are soon parted.

 

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Just another extension of the welfare state, right? Spend all of yoru money on bad choices through life and you should get more money from the government. Actually plan ahead and save money, and the government should punish you for it, ("means testing" for social security is the latest way they plan to save it, baasically punish anyone stupid enough to not piss away every cent they make immediately).

Btw, in my post earlier I mentioned someone selling to someone else for more than the market rate is slimy. I stil think they are, but I do not think there should be a law against it. The reason Caveat Emptor is such a wise policy is it puts the fear of loss in everyone. If the nanny state "will make it right", then people simply continue to be lazy and make poor decisions. Classic moral hazard argument.

 

No problem with either scenario, although in both cases I have some difficulty putting myself in the end-buyer's mindset.

Of course, if you offer a 14-day return privilege, you're still compelled to honor it.

 

Carlton, hits on one of the issues that I was trying to cox out of someone. Seems like in principal, no body has an issues with this, but morally, they don't agree with it for the above reasons stated.

 

Scenario 1 - My neighbor picked up a non-working backpack leaf blower at a garage sale for $5. He put $20 in carb parts and a couple hours fixing it, and turned it around for $300, not the $25 he actually put into it.

Scenario 2 - My car got hit by a tree during a storm. Sold it damaged for $1500, guy turned around, parted it out and made $5000+ total in the end. I didn't expect him to give me any more than what I made the deal for in the beginning.

In both cases, someone put some related expertise and time into a product, and either made it better, or did what someone else didn't have the time/experience to do. They sold it for what they could get for it in the free market.

I see no difference between your scenarios and mine. All are legit. All are how the free market is supposed to work - you have a product, and you sell it for whatever the market will bear. Matters not the cost of acquisition.

As long as no deceit/illegal method was used in either acquiring the product, nor any was used in selling the product, and the products sold for market acceptable value at the time they were sold, there should never be an issue.

 

So maybe this is the real problem....nobody has any issues with the above scenarios, they just don't want to hear about it either way when it affects them in some way.

 

Thanks for the jab Jeff! Ouch!

 

As an artist, I make my art without worrying whether it will please the audience. People make their own meaning based on a number of factors that I have no access to, nor that I can control in the slightest. I make my work interesting to me, and I spend quite a great deal of time crafting, reworking, and finishing. If I were to tailor my work to specific audiences...then I should probably be working for Disney.

Just saying - I agree with those who have said if there was nothing illegal or deceitful in the process, I think your conscience should be clear. From your standpoint, it may seem like "anybody" could do what you did, but the truth is that they didn't, and so the premiums you earned with your KSE (Knowledge, Skills, and Experience) are justly earned.

If I were to buy a graded coin online for a fair price according to its current market value, but notice that it has an unattributed variety, should I only sell it as a normal coin? Absolutely not. NOW - for some reason many coin shop owners I've run into have issues with cherry picking. They seem to prefer customers who walk in the door and make lazy purchases. I think they would take issue with what you've done, mostly because they would prefer to be the one making that profit. Oh, I think there is a word for wanting all the profit for yourself...what is it....greed? Yes, greed.

 

Wish I could like Ben's post twice! Very nice.

 

Joe more power to you . I know how honest you are , and you are tops in that dept . Just next time let me in on the deal .

 

What is the old American way? Slavery? Monopolies?

 

Shh...you're talking about factual history, not History Channel history. Things used to be much better! And everyone was happy! And no one was taken advantage of!

 

Well even morally I have no problem with it. If the buyer can't be patient and wait for the market to settle down then that's their own decision.

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I see no problem whatsoever in any scenario. You saw opportunity where others did not and your actions rewarded you with a nice profit.

 

There is no problem, as described with either. This is an investment. You bought, modified, and sold at profit. In America, with free markets, that is a good thing. Nobody made the people who bought them from you make that purchase. How is this even debatable?

Did you have a gun at the buyers head?

 

I do not have a problem with either scenario as it's generally referred to as: "Knowing your business"

Well, that's not true as I do have a problem with it. My problem is that it wasn't me doing the flipping.

 

I am waiting for our resident American communist to come in and proffer an opinion.

 

I Detect 0 reasonable arguments regarding communism...=)