Am I outdated? When is an 'offer' actually an 'offer'?

I'm 50 yrs old and have been buying, selling and trading cars and parts for as long as I've been old enough to drive. Before the internet I'd put an ad in the classifieds, pin a note on the corkboard at the speed shop etc to put the word out about what I was selling or looking for. The internet has made that job easier as well as free, and its great for guys like me. However I've noticed a trend where it seems if a potential buyer mentions what he'd like to pay, that it constitutes an 'offer'. To my old fashioned mind, true 'business' is done in person whenever possible, and an 'offer' is made with cash in hand, or at least enough cash to secure the item with a deposit until payday, bank machine etc.
I've had quite a few deals recently go like this; I just sold an old Landcruiser I had, but it seems to happen with nearly everything I sell. I was asking 2Gs for it, a guy e-mails me and asks if I'll take 1500, I answer yes. He says he'll be there on the weekend to look it over. My phone # was in the ad, but he never did call and talk to me or give me his #. Thurs a guy driving by sees it, looks it over and offers me 1500, gives me 200 bucks and is back 3 hours later with the rest. Handshake, beers and BS session for 1/2 hour and say goodbye, deal done. I e-mail first guy and tell him it sold, and get an angry e-mail back, stating I had welched on a deal, cuz he had made an offer and I had accepted. Huh?
I figure he never came to see it, never even called me on the phone, and certainly never showed me any money, therefore his 'offer' was just an inquiry as to whether I'd sell for 1500. He was adament that I was a jerk for not honoring the 'deal' I'd made.
At least half the people that answer an ad never show up, most that do say they'll think about it, so to me there's no deal until I've accepted at least part payment, with an agreement on price and a timeframe for the balance, but it seems my way of thinking has become outdated. I'm not about to change my way of doing business, but I think that this is a peculiar attitude that seems to have been spawned by the internet age, and it seems common amongst buyers of all ages, not just young guys who haven't much experience with face to face commerce.

 

Well, you say he said he'd "be there on the weekend to look it over". To me, that doesn't mean, "I'll definitely take it". As you said, bullshit runs pretty deep in the world of buying and selling; unless the first potential buyer made some sort of concrete commitment, I'd have sold it to the man with the cash in hand as well. If you promised him that you'd hold it until he looked at it, it would be a different story.

 

Don't worry about it, you know that cash talks

 

I ran into this selling music gear...
I tell EVERYONE I talk to that I dont hold anything, been left waiting too many times...
At most, if you say its a done deal, then you have an hour to show up!!
AND thats show up and BUY, not show up and then give me a LOWER offer...

Just avoid the misunderstanding and tell them up front!

 

Nope dude was a idiot for thinking that anyone would be willing to pass up hard cash for a solid maybe. His loss for not acting or at least calling.

 

im 28 and i get pissed at guys older than me that pull that shit. Im all about face to face cash in hand, be a man about it. you want come get and pay for it. I ussually dont even haggle with people if there honest and the thing is as described.

 

Until one hand is shook and the other is holding money, there is no deal. If the first guy was serious, he would have shown up with at least holding money.

 

Doesn't sound like you had a deal to me. He didn't even look at it. Saying he'll be over to take a look at it doesn't mean he'll buy it or that he won't try to get you down another few hundred bucks. I wouldn't lose any sleep over it.

 

When some one asks me if I'll take $XXXX.XX for something, I tell them "I don't know, I'll know when I see the cash laying there. And I always make it clear that the first one there with the cash gets the stuff, unless I specifically tell them that I'll hold it for them. That doesn't happen very often. And I'm still waiting for folks to come by on deals that were made years ago.
Larry T

 

I don't even discuss pricing till someone has looked at goods. No time to come look first? Next in line you want it?

 

Like Heathen said, he was going to come and look at it. That is not buying it. After he found out that someone bought it is when he decided that he would take it for $1500.

Neal

 

I'm 22, and thats how it works for me. If the other guy wanted it badly enough he would have come a looked at it that day. If hes pissed, its cuz he knows he was the idiot and missed out. Most of the time i know if I'm dealing with a hot ticket item, i better jump on it, or I'll lose out.

 

Money talks.

 

On my project stuff on the side unless I have a deposit in hand the offer is nothing more then that until I have cash in hand unless I know the person. If somebody makes an offer and asks me to hold it then I ask for a deposit . I used to not do that and have had it bite me only to have the person back out down the road or never show.

Now on the other side of that I will make a lot of offers by email on something I am interested in but that is usually the first contact and a deal hasn't been struck.

I think there is what I call a "fishing offer" ie would you take this for it before somebody looks at it usually made by email contact or even sometimes by phone where somebody may be seeing what the best deal is they can get or if they have enough interest to pursue it and I usually don't put much faith in these either when they are made to me or I make them myself.

Case in point I am looking for a late model driver and Friday evening I made offers by email on 5 different trucks on CL., now had 1 or 2 guys emailed back and said yes then I would have arranged to go look but wouldn't have considered it a deal on other side until I was there in person with cash in hand. Had they sold it then thats fine unless prior arrangements had been made. I also get lots of offers on cars/parts I may have listed and apply the same thinking to them as well becasue if anyone is serious enough they will either make a deposit or arrangements to tie the item up.

Now a real offer would be if I came and looked and had to think about it and then called back and said I would give xxx for it then I would consider that an offer like in the old days. I bought a parts car Friday night of the internet and told the guy by phone I didn't need to look at it and would take it but in that case he had a Paypal account so I sent him the money right away. Other times I might put a condition on an offer say in a case where we are too far apart on price but say I will give xxx for it provided I haven't bought something else should you decide to take my offer.

I think in the end honesty and communication between both the seller and buyer is best and that both have a clear understanding of is this a real offer or not , what time frame and under what conditions.

 

You definitely are not alone. The internet has certainly taken the faces away from all kinds of dealings. Its guys like this bozo that rip people off when they are doing the selling too. His loss. Looks good on him.

 

Cash is KING.....The dude didn't show up so you were RIGHT to sell it. Like you said, there are not too many people I would "HOLD" something for these days.

 

Haha, guess I'm not that old fashioned after all. I never worry about it, but i find it interesting that this line of thinking has developed. I remember my grandfather telling me he didn't like credit cards, because he didn't feel right about having something he hadn't truly paid for yet. I've always really enjoyed the whole bargaining process, especially if I make an offer and can see the guy is considering it, then tell him i have the cash in my pocket, and thats the clincher. Its a fun game to me, not everyone likes to play and I can respect that, often just paying the asking price if my offer is declined. Hmm, what should I sell today...anyone in the market for a sweet 69 F250? offers?...

 

I had my tow dolly for sale and some guy said he would bring the money on Saturday, so I pulled it back down to my shop. No show on Sat, and no call/no nothing. He calls on the following Wednesday and wants to come get it. I know I can get my asking price later, and don't need the cash now, so I told him I wouldn't let him have it. A few minutes later, he showed up. He started begging me telling me he already had some cars he needed to go get. He was so desperate...it really tugged at my heart...so...I told him he could have it for an extra $50.00. He had to call his boss to get approval..but he did get it. Told me he was in deep doodoo with the boss now...I told him life is rough world-wide.
When he goes to hook it up, he has 1 7/8 ball, and the tow dolly takes a 2"...so I sold him a rusty old ball for the same price he could have gotten a new one for less than two blocks away....I love a dumbass.

 

I've held stuff with a deposit but thats it. I mean, come on. how hard is it to paypal. Now I have found ads where I called and said, "i'll take it" and I'll be there at a set time. Then got there to see stuff goin on a trailer. That pisses me off. If it was first one there the guy should have told me. Not let me drive an hour to pick it up only to have sold it 5 minutes earlier.

 

I'd email him this thread and show him who the arse is.

 

"He says he'll be there on the weekend to look it over." "Look it over" doesn't mean he'll buy it. Would have been better (for him) if you had let him know that the first person there with the $$ will be the new owner. I think he's just angry with himself.

 

"I was asking 2Gs for it, a guy e-mails me and asks if I'll take 1500, I answer yes. He says he'll be there on the weekend to look it over. My phone # was in the ad, but he never did call and talk to me or give me his #. Thurs a guy driving by sees it, looks it over and offers me 1500, gives me 200 bucks and is back 3 hours later with the rest."

I don't know, The dude said he'd be there on the weekend and you agreed with that right?, then you sold it on Thursday, If I'm not wrong here, you didn't wait till the weekend for the first dude that made an offer you agreed with,
If you said the weekend but sold it before then, I think the dude has the right to be pissed at you. Maybe you did, but I didn't see where you said that "unless some one else shows up with the money first" that you would hold it.
Not trying to be a dick or anything, just my 7.825 cents worth

 

That's why they call it legal tender. The transfer of payment concludes with the transfer of ownership. It's a transaction after the cash or other agreed upon items of value is tendered, then it's your resposibility to deliver the goods unencumbered. Then it's a deal. Everything up to that is bargaining or BS.

 

Oh man, do I owe ya 7.825 cents now? I'll be there on the weekend with the money, K? Nah, look it over isn't good enuff to wait for to me.

 

There is no 'deal' until money has changed hands. Until then, there are no obligations.

When I'm buying something, I have the cash (or at least what I am willing to offer) BEFORE contacting the seller. The people I deal with are usually surprised that someone made an appointment, showed up with cash in hand, without BS stories, and leaves with the item. I've had items sold before I got there, and never once have I blamed the seller - it's MY fault for not showing up with the cash first.

 

First come, first served. Sounds like buyer #1 was just blowin smoke

 

On the other foot... i thought i had agreed to buy a body at the asking price of the ad, the seller knew i was in the UK and that i was trying to sort out shipping and how to get the money to him , but said this was no problem. the next time i tried to contact him i noticed the thread had been closed and sold added to the post. and the seller has not replied to my emails.
I am guessing that he has sold it to someone else,(with cash in hand) but i think it would of been decent of him to at least contact me and give me an ultimatum ?
What more could i have done?
I feel i was a genuine buyer but lack of communication and distance was not on my side.

 

No not really, But I think you missed the point totally, But thanks anyway - K

 

I guess I'm the only one here that thinks the first guy is at least partially right.

When I've sold stuff in the past and someone sets up an appointment to see the item, then I honor that appointment. If someone comes along with cash, that is great but I tell them they will know after the other guys appointment, kind of a "get in line" thing. On a related note, I don’t ever allow setting up appointments for any more than a couple days out. I agree that someone that is serious will be there soon, but I think it is TOTALLY unreasonable to expect them to drop everything to be at your garage in an hour to buy it. Even a one day expectation is a bit unreasonable to me.

While I don't think the first guys should think it was done deal, in my mind he has a right to at least see it and buy it first before the next guy does. When I've explained this to my buyers they say that they appreciate it as they have been in the position of the first guy to many times, even the guy that comes along second seems to understands. I would have told the second guy that I had a appointment for whatever day and then taken his number to let him know if the first passes. On occasion, for big ticket items like a car, I’ve let two or more buys try and out bid each other.

So far, this process has not cost me a single sale

 

No I got the point, just always believed that a deal requires at least an agreement. Asi said he never phoned despite knowing my number, and most 'speculators' rarely show up anyways. He only lived 15 miles away.