Tweet
Hello Everyone,
As a side topic alluded to in a previous thread, I wanted to make sure collectors are aware there is a possibility you may be dealing with someone who is looking to resell an item they do not physically have in their possession.
Please note I am not stating that was the backdrop for why the item was returned in the thread that was deleted. In fact, the buyer claimed there was a different reason for the item being returned (determining whether true or not is outside of the scope of this forum). However, I think it is very useful for collectors to be aware that there are people in the marketplace who may be looking to resell items that they do not have in their possession.
While some people do not have a problem with the fact that people are looking to act as a type of "broker" or that they are looking to "flip" an item for a profit, I think it is worth noting that there are possible implications that might be inherent in that type of transaction. For example, if the item is not physically in the person's possession when they are looking to sell it, they may not be able to accrue the item even after a deal is reached. Or, if they are buying an item from you for resale, they may not come through if their buyer backs out of the resale arrangement.
While I do not believe it is illegal to look to resell items you do not have in your possession, I highly suggest you clarify with the other party up front if they physically have the item they are looking to sell or if they are looking to resell it if they are buying from you. Regarding the latter, I would also highly suggest you define any return policy up front, including requirements for a return (like a rejection letter from an authentication company, etc), to make sure there are no complications later.
Happy to hear members comments on the topic. However, please note this thread is intended to be an educational thread and not one to grip about previous transactions or make accusations toward other parties. There are many collectors who may have limited experience in the buying/selling process and this thread is designed to help educate them on possible implications and the thread will be moderated as such.
Thanks in advance for your cooperation.
-Chris
As a side topic alluded to in a previous thread, I wanted to make sure collectors are aware there is a possibility you may be dealing with someone who is looking to resell an item they do not physically have in their possession.
Please note I am not stating that was the backdrop for why the item was returned in the thread that was deleted. In fact, the buyer claimed there was a different reason for the item being returned (determining whether true or not is outside of the scope of this forum). However, I think it is very useful for collectors to be aware that there are people in the marketplace who may be looking to resell items that they do not have in their possession.
While some people do not have a problem with the fact that people are looking to act as a type of "broker" or that they are looking to "flip" an item for a profit, I think it is worth noting that there are possible implications that might be inherent in that type of transaction. For example, if the item is not physically in the person's possession when they are looking to sell it, they may not be able to accrue the item even after a deal is reached. Or, if they are buying an item from you for resale, they may not come through if their buyer backs out of the resale arrangement.
While I do not believe it is illegal to look to resell items you do not have in your possession, I highly suggest you clarify with the other party up front if they physically have the item they are looking to sell or if they are looking to resell it if they are buying from you. Regarding the latter, I would also highly suggest you define any return policy up front, including requirements for a return (like a rejection letter from an authentication company, etc), to make sure there are no complications later.
Happy to hear members comments on the topic. However, please note this thread is intended to be an educational thread and not one to grip about previous transactions or make accusations toward other parties. There are many collectors who may have limited experience in the buying/selling process and this thread is designed to help educate them on possible implications and the thread will be moderated as such.
Thanks in advance for your cooperation.
-Chris
Comment