Do you ever feel guilty about an extremely cheap purchase?

[megocrazy]

I had a pretty good weekend on the hunt. One was a vintage video game cartridge. I am a flea market vendor at one of the local places. Largest in New England. It was a purchase from another guy that deals in the same items I do. He was an outside dealer, sets up occasionally but not a permanent spot inside like I have. I've purchased from him before. Basically he does no research and if he doesn't recognize it, it must be crap. In short I pulled the rarest video game I've ever hit from his $2 bin. Sells between $125 and $150 loose on any given ebay day. It was kind of funny because while I was looking through his stuff he actually was testing me on my action figure knowledge. He had a bunch of 80's stuff like He-man and Sectaurs etc. Again no idea, no research just throw em on the table. One of my regular customers actually cleaned him out of those while I was there.

When I got inside I was telling my buddy about it. He was a former business partner of mine in a vintage toy store years back and also a vendor. He asked me jokingly if I felt guilty about "robbing" the guy as he stated. We've been friends for years and he knows I don't. He's built a six figure collection of items he specializes in for what he estimates cost him about 5 - 10% of it's value by buying and flipping.

I spend a lot of time educating myself on things and for me it has resulted in good money. The guy asked a price and I paid it. I did however think about it later and wondered if anyone does ever feel guilty about a purchase that was worth way more than what they paid. So what's your thoughts? Discuss freely.

[boss]

I only feel guilty about extremely expensive purchases. ;-)

I think the amount of times I've overpaid more that makes up for any deals I come across. Good for you for doing the research.

[samurainoir]

It always comes down to one man's junk is another man's treasure in these cases. He was happy to get rid of it, you were happy to flip it, whoever buys it from you is happy to pay your price.

[megoat]

The question of ethics is a little grey sometimes.

For instance, I buy a lot of stuff at estate sales. These sales are run by companies who are supposed to do their homework and price accordingly. It is not my job to tell them when they price something too low. I don't feel even a tinge of guilt buying something for WAY too cheap at one of these sales.

In fact, for the most part my philosophy is whenever anybody tags something IT'S ON THEM. If you refuse to research your items and put $2 on a $300 item IT'S YOUR LOSS. There are exceptions sometimes, depending on the seller but for the most part I work by this rule.

Now where it get tricky is when you make offers. If you go to somebody's house to check something out and you have to make an offer then ethically I believe you are obliged to be as fair as possible. This is where it gets grey. What is fair? There are a lot of variables involved sometimes----how easy will it be for you to sell, how much time will it take you sell it etc etc etc.

Only very rarely do I feel guilty.....

[ScottA]

No I don't. It's not my job to educate someone on what they have or should be asking for said item.

[80stoyman]

I would feel guilty only if someone asked me about the item and its worth and I lied to them to get a good deal.

But if someone puts a price on the item without doing their homework well then it is on them.

[jwyblejr]

I'm guessing it's not different than the people that find the rare paintings worth a bunch of money at a yard sale. I doubt they ever feel guilty.

[toys2cool]

I would feel guilty only if someone asked me about the item and its worth and I lied to them to get a good deal.

But if someone puts a price on the item without doing their homework well then it is on them.

I was about to post the exact same thing

[megozilla13]

Years ago at a toy show I got 2 alter egos for $8. They were marked $10 but when I went to pay, the seller said she would give me a break since I was buying both. I've always felt guilty about that. If it was an anonymous ebay deal, I wouldn't have felt guilty.
mikej

[toys2cool]

Years ago at a toy show I got 2 alter egos for $8. They were marked $10 but when I went to pay, the seller said she would give me a break since I was buying both. I've always felt guilty about that. If it was an anonymous ebay deal, I wouldn't have felt guilty.
mikej

Yea i would've felt bad then