Moral dilemma. Wwyd?

[employeewoes]

Keeping it vague and brief.

Someone advertised something on a selling group for £20. I knew it was worth much more so snapped it up. I've now had many offers to buy the item for £150.

Should I offer the original seller some more money?

I bought a vase today secondhand for $6. When I got home I realised it had its original price on it, $32. I didn't go back and offer more money, seems a bit silly to do that. They put a price up and you paid that price, both happy.

If you offer more she’ll wonder why, go and google it and withdraw the item from sale before re-listing it at a more appropriate price.

Person was not a friend, not elderly or vulnerable. Nothing stopping them researching.

There you go then, no need to worry. You have paid their asking price and items is yours to sell for whatever price you deem is appropriate. No need to give them more money.

item*

I'm in a similar position but as the seller.
I listed a loads of old stuff from my grandparents house clearance, we'd had a local antiques dealer round to check if anything was of value and he said no.

One particular item got a bit of interest, I'd put £5+ on the listing, this item was clearly the nicest and was going to be more, I thought maybe £20.

One person messaged asking if I'd post, I said no as lots of local interest, and he then sent me info that the item cost £2k new!

So I hastily withdrew it from sale and am now researching properly, which is a huge hassle as I just want the stuff gone and my spare room back, but since my gran is in a nursing home which is eating up all her savings, we need to get all the money we can. This item will pay for another few days of care at least!

I was very grateful indeed, I'm a busy working mum dealing with grandparents stuff and I don't have time to research everything, I thought the antique dealer would have spotted anything valuable, clearly he was a hack as this is quite distinctive and rare.

In your position I would just pocket the cash as a reward for my knowledge and hard work OP

no of course not,

it is perhaps a fake, not what it seems

No.

I’ve done similar OP. Bought some lego from FB knowing it was worth more than the seller wanted. Stored it away for a few more years then sold it for more. I’m sure whoever bought it from me then went on and sold it for more again. Every party in this got what they wanted so if I was you I’d keep the money.

I wouldn't feel comfortable, but then I am too honest for my own good.

Of course not. I bought a second hand item for £20 which was an absolute bargain! Used it for a year and sold it on for £100 👍

No.
Many people- including antique dealers make a living by sourcing items cheaply and selling for profit.

Supermarkets do it too.

I have sold stuff in the past way below value because I wanted a quick sale.

You and the vendor came to an agreement- the fact that it could have commanded a greater price is an unrelated fact.

In short, no - you don't need to offer them anything.

I don't see how you can feel mean though? you knew it was a bargain and bought it, then posted it yourself at a much higher price. That was your intention clearly or you would have kept the item and been happy that you got such a good price

No, you’ve done nothing morally wrong.its easy to google things online and research prices etc.

I probably wouldn’t sell it on the same selling site that they did though, incase they saw it. National sites such as Ebay, fine. Local village facebay site, nope.

Maybe donate some of your profit to charity.

@Hermano I think there’s a difference though between a random member of the public and an antique dealer who is almost certainly buying the items for profit.

Many people go to car boot sales especially to pick up bargains. IF the sellers just want rid then it’s not the buyer’s obligation to offer them more money.

I remember watching an episode of some antiques programme where a woman had paid a fiver for a ring at a school fate, and several years later when taking another ring to a jewellers he had spotted it and asked if she’d ever had it valued. She thought it was just a cheap piece of bling with a big stone in it. She got it valued and it was worth 750 grand.

I don’t doubt the person who had given the ring to the school fate all those years ago probably felt a bit sick. but such is life...

pictish the item is already in my house!

No I wouldn't. The original seller might not have been bothered. You don't owe them anything.

Just to offer another perspective

I’m financially stable and a bit of a spendthrift. As a result I’ve bought a lot of valuable items, and in an attempt to declutter either donate them or sell at a v low price compared to what I “could” get

It’s not about making the money back for me as I don’t need the funds - it’s just me taking the least tedious option and getting rid of the stuff ASAP. Selling online is jarring thanks to scammers/problem buyers so I can’t be bothered to invest much energy into it. If a buyer resold the item, I wouldn’t care.

I wouldn't have offered more money, but I also would have put it on eBay where the original seller would be less likely to see it and feel aggrieved

No. What if the person who bought it from you sold it for more? You wouldn’t expect a cut surely.

No, you do not need to offer the original seller any more money. They put it up for sale, got their asking price, sale done.

Your transaction is entirely different, you have made a good profit.

It might also be that the original seller knew the value of the item. I once sold a VERY expensive scarf at a rock bottom price. It had been given to me, I'd kept it in a box for years and would never use it. I was clearing out stuff and trying to make some money for a project, sold off lots of stuff at silly prices just to get rid of it all fast. The scarf would have fetched £370 new, someone got it for £20. They probably made a profit from selling on but I wasn't bothered….. In fact, in terms of a moral dilemma, I think it's more immoral to even think of valuing a scarf at £370 than someone getting a bargain and selling on!!

Umm .. how do you think Art and Antiquies dealers manage to make a few bob?..

CrowdedHouseinQuarantine

I wondered that, but no. It's legitimate. I've checked it over and it is identical to the one I had (and sold last year as I no longer needed it).

The seller just didn't know what it was. To her it was just an everyday thing that go for around £20 not realising that this one was a specific type and worth more.

What something cost and what it is worth second hand are two very different things.

Just look at your local auction house's catalogue to see dinner services which may have cost hundreds when new but sell for a (very) few tens.

You also dont know how the original seller came by the item. They may have bought it as part of a job lot and are still making a profit.

If you want to see a truly amazing profit then watch this:

Paul Laidlaw bought a camera for £60 and sold it for £20,000. He went back later to the dealer who had no issue. Laidlaw knew it was special, paid the asking price. Just didnt know how special it was.

God yeah just do it! It's only immoral imo if you deliberately hid or lied about the real value of the object to the original seller.