Am I morally wrong to buy low and sell high? :)

[rc5]

Recently I sold a buddy my 2nd microwave for $20. It was bought in a back yard sell for $5 before 5 years. Do I deserve to be shot because I did NOT tell the new owner how much I paid for that microwave and earned a 300% profit?

 

[Hossenfeffer]

Considering that the massive 300% profit was an unimpressive $15, no real harm done, assuming it works fine. You "could" have just given it to him and not been out any real cash.

 

[VoodooExtreme]

YES! You have done something terrible!
You deserve to burn in h£ll!


















J/K

 

[damocles]

No, if the microwave was actually worth $20 then you didn't really do anything wrong. If you tried to sell him a microwave that was only worth $5 for $20, then you would be a cad

 

[SackOfAllTrades]

Man, I gotta start going to garage sales more often.

 

[bacillus]

if you didn't sell him a dud & he was happy to pay the asking price then your concience should be clear!

 

[Amused]

An item is worth whatever someone is willing to pay for it. There is nothing wrong with what you did... it's called capitalism.

 

[SuperSix]

<< No, if the microwave was actually worth $20 then you didn't really do anything wrong. If you tried to sell him a microwave that was only worth $5 for $20, then you would be a cad >>



My thoughts exactly..

 

[jman7272]

The American dream... If you had an unlimited supply of those to sell, you'd have what we call a store! Good job man!

 

[Dedpuhl]

Blame the buyer...not the seller.

 

[PlunX]

Yeah, you did aabsolutely nothing wrong.. Keep doing it, if you can. That's how a lot of people make money on these forums.

 

[yakko]

You did nothing wrong because he agreed to the price.

 

[samgau]

As a buyer you are responsible to assess the value of the item/service you are purchasing.. unfortunately many, me including, cannot assess worth a d@mn or our sense of judgement flies out the window as soon as we see a pretty smile or some sweet words, so we get ripped off..over and over again...

 

[glenn1]

I sure hope not, considering my employment is in the brokerage industry

 

[freebee]

You don't visit fs/t forum do you, thats basically how many of the deals there work. basically the same with egay.


I often buy high and sell low. Its a much more effective strategy. Everyone is happy.

 

[TonyH]

$20 for a working microwave is more than a fair price.
He probably doesn't care what you paid for it, because he feels that he got a good deal.

 

[treasurehunter]

Not if it's worth $20 to that person. And as for buying low and selling high, people almost do it for a living in the Hot Deals forum. . . .

 

[wyvrn]

No. The other person was willing to pay that price for that item. If he wanted a better deal, he could have gone to garage sales. You provided him a service by doing so, and should be compensated.

 

[Wuming]

usually there's nothing wrong with doing that. it's how the person values the item. but in this case he is your buddy... well...

 

[BA]

Buddy? Now is he an acquaintance, or friend? Making money off your friends is kinda low...

 

[potatoo]

if he was your &quot;buddy&quot;.. you should have gave it to him.. just GAVE ... i would do the same to my best friends... i think they would do the same for me (consider how poor i am right now )

 

[Hanpan]

As long as you didn't lie or tell him anythign false to make him think it's worth more than it is you have done nothign wrong.