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

R

rc5

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


<< 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.. 🙂
 
The American dream... If you had an unlimited supply of those to sell, you'd have what we call a store! 😀 Good job man!
 
Yeah, you did aabsolutely nothing wrong.. Keep doing it, if you can. That's how a lot of people make money on these forums.
 
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... 😉
 
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.



 
$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. 😉

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