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 Replies: 43 / Views: 5,465 |
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Pillar of the Community
United States
2150 Posts |
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Pillar of the Community
United States
1391 Posts |
If the story is true it seems pretty clear cut to me. If Stacks and Bowers stated the price, the buyer agreed and paid, the item was sent, then the transaction occured and the buyer now owns it. If they take it to court I am pretty sure that the court will side with the buyer. It is not like the buyer stole it. Stacks and Bowers made a mistake and now they have to keep up their end of the bargin. I must admit that I feel bad for the employee that made the mistake though. I am pretty sure he is going to loose his job.
Also, he needs to learn how to use some punctuation marks and paragraphs. It is pretty much a bunch of run on sentences. Of course if I had that coin I might be that excited too.
Edited by allranger
05/08/2012 11:57 am
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Valued Member
United States
275 Posts |
Not being an attorney I would say that a legal contract exists between the 2 parties and that Stacks and Bowers is the big looser in this transaction They could have handled it better and come to a more amicable solution but that is water under the bridge I wonder how the sale will go
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Locked
822 Posts |
So you go to Walmart and buy a flat screen TV. It was labeled $900 on the shelf. You check out and pay $900. A Walmart employee comes running out to the parking lot and tells you that you either have to bring it back in for a refund or pay them another $400. Two words come to mind..... |
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Pillar of the Community
United States
3453 Posts |
I don't mean to seem cold but do you think this is actually a real situation?
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Pillar of the Community
United States
5832 Posts |
I think is possible that the seller is telling the truth, the listing caught many attention and will prove that Stack & Bower made the mistake.
I have been in similar situation one time but not with numismatic items, I knew the item was send to me by accident, and I received an email 2 days later that the company admitted the mistake with other items I bought. I return it using their postage label and they give me credit toward future purchase, no one got into trouble.
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Pillar of the Community
United States
3486 Posts |
"Returns: No returns or exchanges, but item is covered by ebay Buyer Protection ..." Would this not suggest that the seller also does not accept taking responsibility for the mistake? If ebay buyer protection does not come to the defense of the buyer ... well ... |
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Pillar of the Community
United States
3294 Posts |
What I want to know is why the seller would bring this to the buyer's attention? If I wanted to buy something and there was a chance that the seller did not in fact have clear title, I would stay far away.
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Rest in Peace
United States
9104 Posts |
mac- There's a rule of law called "unjust enrichment", which can apply, but not in this case. If one party is knowledgeable and uses that knowledge to take advantage of the other, the party who got the worse end of the deal can go back and ask to be made whole. Neither party, and especially not Stack's, can claim to be ignorant of the value of the coin. Another variant covers error. If Stack's advertised a VF, buyer bought a VF, a VF was invoiced and paid for, and a MS65+ was shipped, the buyer has no right to profit from that error (more like mac's example). There was no error. Item was listed, paid for, and sent. If someone pointed the listing out to me, I'd have bought it ASAP. NOT to take it away from a friend, but to prevent someone else from grabbing it while ppl were "thinking" about it. In this case Stack's mad several boneheaded, rank amateur mistakes: - Listing a coin for 10% of it's worth. Any number of guides would show the error.
- The "account rep" should have caught the mistake, especially since the buyer was playing games when he should have been counting out the money. Hint: When a reputable seller offers you XF Morgans for $3 each, you don't try to negotiate $2.50, you back up the truck.
- By law (and Stack's of all people should know this), any mailed item remains the property of the sender until it is received by the other party. Call the receiving PM, tell him you want your package back.
One last thing that no one commented on. People often talk about slobbed coins as an investment, yet it took a week or so before anyone noticed a rare coin offered for sale at 90% off, and then wanted to dicker price! |
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Pillar of the Community
United States
1302 Posts |
If this is a true situation, it's too bad, so sad for the seller.
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Pillar of the Community
United States
759 Posts |
There are just too many things about this story that don't make sense, so I'm skeptical. Actions taken by both parties are pretty much unbelievable. Stranger things have happened though, I guess.
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Pillar of the Community
United States
1659 Posts |
I sincerely doubt the story is accurate.
That coin, at that price, on the S&B site for days without anyone noticing the price error?
What would be more believable is the coin was up for a very short time in the rare coin gallery with the wrong price, and this guy snatched up quickly. Are we to believe the buyer offered to purchase a coin without first knowing how much it was worth?
That being said, S&B has a strong case asking for return.
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Pillar of the Community
United States
4132 Posts |
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Pillar of the Community
United States
1080 Posts |
I'm not sure the buyer was "playing games" as bigfredd hinted. I looked this coin up in my blue book, and it lists and MS-63 at $1,450. So I wouldn't assume that this coin should be worth $15,000.
I am curious why the auction has ended.
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Pillar of the Community
United States
1659 Posts |
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Pillar of the Community
United States
5832 Posts |
Right biggfredd,
I got the point you're making!
I am not sure if I would return the coin either if I was in that buyer position, knowing I make over 10x profit from some amateur mistakes, discovered afterward by the senior management and trying to recoup the mistake. How would anyone handle it in this case? He mentioned that S&B offer his wife $1,000, would anyone be willing to accept it and return it? Is there a law for this type of situation?
Edited by macmercury
05/08/2012 7:29 pm
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Replies: 43 / Views: 5,465 |
Posted 05/08/2012 11:40 am
