40% higher price in 1 hour?

[icefly]

We were in a social media group, where I posted an Epiphone bass that was cheap.
One member bought it and another also wanted to buy it, but arrived late.

Less than an hour later, the buyer offered the bass to interested party, with 40% price increase.

In this network media with known friends, others not so much, what do you think about that?
Any thoughts?

 

[shastaband]

Perhaps you underestimated the current market value of your Epiphone bass. But once you sold it, the new buyer was free to do whatever he wished with it, including selling it for a higher price.

 

[DrSteve]

Was your posting that underpriced? Or is the new owner a little nuts?
What model, year, and price?

Some sellers are a little out there.
On reverb you can easily find Used basses listed for more $ than New. Without upgrades.

I don’t get it either.

 

[icefly]

It wasn't mine, I just found the ad.
A Rumblekat.

 

[BadSanta1281]

Buy low, sell high. That's how I retired.

 

[N. Kentucky Bass]

We were in a social media group, where I posted an Epiphone bass that was cheap.
One member bought it and another also wanted to buy it, but arrived late.

Less than an hour later, the buyer offered the bass to interested party, with 40% price increase.

In this network media with known friends, others not so much, what do you think about that?
Any thoughts?

Did your buyer who just bought your bass (and presumably did not yet physically possess it) expect you to ship the bass to his buyer? Brilliant arbitrage!

 

[Killing Floor]

I think that’s fine.

First seller was motivated to sell it. They priced it to make it hard to pass on.

Then in the second case the buyer was more motivated than the seller.

I don’t see a problem. If that second buyer is patient there will be another good deal.
If this is about some anonymous person getting a better deal that’s excess baggage to carry.

 

[jeffb28451]

Yeah, that happens. Good reasons already given.

I was a member of a well known horn site where a guy posted a horn with full details of sale, shipping, etc.
I met his price and gave him shipping details and asked for his payment info. No variation from his listing.

Later in the day, I saw it for $++++ more money from the same seller. I asked what was going on and
he told me that he was "just checking the market". Then when I asked other people about this kind of
behavior, they said it was not uncommon practice!!

As I said, I WAS a member of that site. What a crock!!

So, that is not what happened with you. Buy/sell, win some, lose some...

 

[gln1955]

When I sell something, I set what is a fair price for me, usually low just to get rid of it. Whatever the buyer does after that is of zero concern to me.

Flippers get a bad rap, but they are taking a chance that they can sell what they buy and make a profit after also paying shipping, PayPal fees, tax, etc. Nothing wrong with smart business moves.

 

[Thumpin6string]

Kind of blatant, but it was his to sell. I have managed to flip enough gear over the years that I have zero dollars in my current gear. Buy low, sell high.

 

[TheReceder]

Props to you for getting what you were asking... Props to him for getting a good deal and making a profit.

Everyone should be happy. Not worth fretting over it.

 

[KellyC]

Everyone here is misreading the OP.
He didn’t sell a bass, he just made people in the group aware of an ad for the bass, then someone in the group bought it.

I don’t see anything wrong with the person who bought it trying to resell it for market value.

 

[2thAche]

It's a pretty sh!t move, but unfortunately every collectible market will have cool people who enjoy the community, and will also have sh!tbrids who are doing their "side hustle". Not honorable IMO. If you need a side hustle, maybe you should re-evaluate what you're doing for your main hustle.

 

[KellyC]

The only thing I see wrong with this behavior is that the flipper clearly didn't have the bass in hand when he offered it for resale, so he would be completely unable to provide an honest assessment of the condition of the bass. At least get the instrument in your hands and evaluate it before putting it on the market.

 

[gln1955]

The only thing I see wrong with this behavior is that the flipper clearly didn't have the bass in hand when he offered it for resale, so he would be completely unable to provide an honest assessment of the condition of the bass. At least get the instrument in your hands and evaluate it before putting it on the market.

The second buyer saw the original ad and was satisfied to purchase it at that point. Coming through an intermediary doesn't change anything...unless...the bass is damaged getting to the intermediary. In that case, the intermediary should void the sale.

For anyone bothered by this scenario, how do you feel about Guitar Center or any other shop buying a bass for a low price and immediately selling it for much more?

 

[GroovinOnFunk]

If you need a side hustle, maybe you should re-evaluate what you're doing for your main hustle.

Wow! So sad...
So whenever you play out you do it for free? Or you're a professional full time bass player and that's your main job? Those are the only two options in your mind? Or does it only apply to the things you deem it should apply to?

 

[40Hz]

Once I sell something I no longer care what later becomes of it beyond verifying my buyer received their purchase in good condition.

 

[Berndizzle440]

Kind of blatant, but it was his to sell. I have managed to flip enough gear over the years that I have zero dollars in my current gear. Buy low, sell high.

This is literally how I fund my musical hobby. I aquire things at great prices and usually bundle them in a trade for something worth much much more. I have less than $200 into my ‘83 Fender bullet bass and less than $400 into my musicman stingray. Both of which came with the original hard shells and are in just about mint condition.

 

[Thumpin6string]

This is literally how I fund my musical hobby. I aquire things at great prices and usually bundle them in a trade for something worth much much more. I have less than $200 into my ‘83 Fender bullet bass and less than $400 into my musicman stingray. Both of which came with the original hard shells and are in just about mint condition.

Yep! By selling at a profit and trading, I have $0 in my Genzler MG800 and my Epifani UL210/UL112 stack along with a few pedals and my 3 basses and hard shell cases.

 

[KellyC]

The second buyer saw the original ad and was satisfied to purchase it at that point. Coming through an intermediary doesn't change anything...unless...the bass is damaged getting to the intermediary. In that case, the intermediary should void the sale.

For anyone bothered by this scenario, how do you feel about Guitar Center or any other shop buying a bass for a low price and immediately selling it for much more?

Guitar Center has a smooth process for returns if the instrument is problematic.
Private sellers can be a crap shoot. Assuming they will behave ethically is a significant assumption.