Estate Sale Find - What would you do?

I'd offer 'em ten bucks.

Karma. I wouldn't be able to walk by and not tell the seller what they have. I don't believe in the "the seller should've researched it better" mindset. Nobody can be an expert in everything. I'd hope that someone would help me in the same boat - and the good karma would be returned.

I seen a guy walk fast away with a kamaka from a garage sale over twenty years ago and drive off....I went to the seller which she had brought out the house for him and
ask...how much did you sell the uke? she said ten buck because the uke was missing one string and could not be played...I didn't have the heart to tell her afterwards what it
was really worth....would you?

This news item isn't about ukuleles, and it isn't about a potential buyer knowing something the seller didn't know, but it is about someone selling something at a yard sale without having any idea of its value.

http://news.yahoo.com/video/couple-buy-5-garage-sale-210205996.html

I have a repair and building business and I am faced with this situation a couple times a week, mostly guitars, violins, etc. I always tell the customer what the instrument is, how much it is worth in today's market after all the repairs are made, (if it needs any), how much it is worth in its present condition, and what I would pay them now, if they are interested in selling. Most of the time people don't know what they have, good or bad. They deserve the truth whatever it is. I do the same when I am at a garage sale or they come by my shop. The golden rule applies IMO.

Years ago, I had a 91 year woman come into my shop with an old guitar. She said her dad bought it for her in 1937, she had the original receipt, and she played it for a few years then put it under the bed and it has been there ever since. She said she wanted $300 for it, but would take less if I thought it wasn't worth that much. I opened the original case and saw she had a beautiful sunburst Gibson L-00, 1936. It was practically in mint condition. It had no issues other then the strings were rusted. It sounded like a canon and played great.

Here was a situation where I could have made out like a bandit. I told her that if she would trust me to sell the guitar for her, she could have all the money except for 10% which I would take. She agreed. Two weeks later, I sold the guitar on eBay for over $3000 and handed her a check for almost that much. She was living on a fixed income, was over joyed and after she stopped crying, I had a nice long talk with her about her life and family. That is what it is all about IMO.

I'm of the opinion that the price of the Uke makes no difference at all. Only that it gets played and makes music. A well made Ukulele adds value to the ear.

BlackBearUkes said:

I told her that if she would trust me to sell the guitar for her, she could have all the money except for 10% which I would take. She agreed. Two weeks later, I sold the guitar on eBay for over $3000 and handed her a check for almost that much.

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Nice solution, Duane. I had often thought that this was a good way to go. Obviously, the person already wants to sell the item, so telling them what they have isn't necessarily going to make them want to keep it. So, why not assist in the sale? You helped her out tremendously, and you still made a small profit for your efforts - not to mention you gained the woman's sincere gratitude. Great story!

mailman said:

Honestly? I think I'd tell the seller that their vintage Martin is worth much more than the $25 that they are asking. But I'd also explain how much I would love to have it, and give it a good home, but that I couldn't afford to pay full value. I would offer them what I could afford to pay, say $100 for the sake of this discussion. Then I would accept the seller's decision to either sell it to me, or not, at that price. Either way I would walk away feeling good about what I had done.

If the seller declined my offer of $100, I would be glad that they now knew the value of the instrument, and that they might get a better price for it.

If they accepted my offer of $100, I would feel good that I found a vintage Martin that I could afford, and know that I didn't take advantage of the seller.

Either way, for me it would come out a win/win....

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My thoughts exactly

It takes all kinds and some kinds care more about bargains than about being honest.

Now before anyone gets torqued out of shape about being called dishonest, let's consider one particular standard of honesty. It's called the truth, the whole truth and nothing but the truth. It probably comes as no surprise that this is the standard that I measure my behavior by. No, I don't always hit the mark, but I do much more often than not.

Pricing negotiations take all on many different forms. Not all parties reveal all that they know about relative product value and ability or willingnes to pay a particular price. In short, many, if not most such transactions start off being less than honest because "the whole truth" is not being expressed. Does that fact make all such participants dishonest? Well, not as a comprehensive evaluation of their entire character, but it does make at least one aspect of their interactions with others a bit less than above board.

Earlier, someone mentioned Donald Trump which brings up the question of whether buying something from a rich person who doesn't know the value of what they are selling is any more acceptable than a similar transaction with a 90 year old person living on a very limited fixed income. Kinda like, the Donald wouldn't even notice the loss where the loss to someone on a fixed income would be considerable. For me, you are either on the bus or off the bus. Honesty (remember the whole truth?), can't be moderated simply because you might feel less like you took advantage of a rich person.

I don't think that people who would pay the 25 bucks and run are bad people any more than I think that me doing some things that they would choose not to do makes me a bad person. These are choices that we make as we go through life and we live with what we decide.

Chuck Moore's comment about karma really sums up the notion of the sort of rule (along with the elusive golden one) that could make questions such as what started this discussion in another thread a whole lot easier and less controversial. I really wish that karma or "what goes around, comes around" was a bit more reliable and consistent. Were that the case, we probably wouldn't have 7 pages of discussion on what is only a moral issue for those folks who choose to include this scenario into their moral code.

So far, I haven't had the great fortune to come across a Holy Grail ukulele or guitar at any sale, nor on Craigslist, for that matter.

But I've run into other severely underpriced items at estate sales, thrift stores and the occasional bazaar. I let them know what I know. Such sales are usually run by folks who need the money and/or are raising funds for a good cause, but I believe that's basic buyer's good-faith in any case.

If I'm in a position to make a fair offer, and they accept, I'll take it off their hands. Even if I can't buy, I figure I've done them a solid.

Please note -- I'm talking about severe underpricing here, not a dealer's clearance sale or similar. I expect dealers to have done their homework.

I've also advised folks, politely, when an item's way overpriced or misrepresented. Either way, I assume honest mistakes were made, until proven otherwise.

stevepetergal said:

I'd offer 'em ten bucks.

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After reading all the good-neighbor posts, I'll make that five.

Gotta say I love a deal. Went to buy a horse 6 weeks ago, they wanted 800. The horse was worth it but i like a edal. I took 500 cash and was not going to budge...... but...after seeing the nice Young couple I gave them 600. I am getting soft in my old age. with that said, if I thought these peole were selling because they were strapped for cash I would help them out. If it was just a yard sale for the sake of clearing out your unwanted items, SCORE!

I have to say I'd tell them what I think it is worth, and make an offer. I see lots of people get "ripped off" at thier yard sales around here, because they are desparate for money, or don't know what it's worth. My best friends had several estate sales after their Mom died. They sold stuff for a LOT less than it was worth.
Many times people having estate sales are in different stages of grieving or in a state of shcok over losing a loved one.
I have to be honest, or I can't look myself in the mirror and smile. Many things like honesty and integrity are more important than money, or even a valuable ukulele....IMHO.

Moore Bettah Ukuleles said:

That's the way it works. I've even known people who have gotten MBUs for free!

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Chuck will you please sign me up for this!?

BTW, people in the business give away uke all the time. But rarely to people who ask for it or expect it.[/QUOTE]

Aloha Bruddah Chuckie,
How much was your neighbor's property selling for.... You got a big heart man, believe me I know..

BlackBearUkes said:

I have a repair and building business and I am faced with this situation a couple times a week, mostly guitars, violins, etc. I always tell the customer what the instrument is, how much it is worth in today's market after all the repairs are made, (if it needs any), how much it is worth in its present condition, and what I would pay them now, if they are interested in selling. Most of the time people don't know what they have, good or bad. They deserve the truth whatever it is. I do the same when I am at a garage sale or they come by my shop. The golden rule applies IMO.

Years ago, I had a 91 year woman come into my shop with an old guitar. She said her dad bought it for her in 1937, she had the original receipt, and she played it for a few years then put it under the bed and it has been there ever since. She said she wanted $300 for it, but would take less if I thought it wasn't worth that much. I opened the original case and saw she had a beautiful sunburst Gibson L-00, 1936. It was practically in mint condition. It had no issues other then the strings were rusted. It sounded like a canon and played great.

Here was a situation where I could have made out like a bandit. I told her that if she would trust me to sell the guitar for her, she could have all the money except for 10% which I would take. She agreed. Two weeks later, I sold the guitar on eBay for over $3000 and handed her a check for almost that much. She was living on a fixed income, was over joyed and after she stopped crying, I had a nice long talk with her about her life and family. That is what it is all about IMO.

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This made me teary eyed...you're a good person!
Life isn't about making good deals all the time....it's about how we treat each other....if you disagree, go watch the movie Groundhog Day...

I see integrity and morals come up a lot in this discussion. Could someone please explain to me how buying this uke for $25 displays a lack of integrity or morals?

Big Question,
I have been the the only bidder at a walk in auction bought a Uke for a ridiculously low price and didn't fell bad about it. I wouldn't have bid at all if the auctioneer hadn't dropped so low.
At a local garage sale, church jumble, I would always inform the seller.
On ebay I always start with what I consider a fair bid. It most annoy the hell out of the people who paid for sniping software.

haolejohn said:

I see integrity and morals come up a lot in this discussion. Could someone please explain to me how buying this uke for $25 displays a lack of integrity or morals?

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No one can because it isn't a lack of integrity or morals. It is an honest transaction,PERIOD. Idon't even see how anyone could argue that paying a posted price would show a lack of integrity or morals.

Now if someone said "Give me what you think it's worth" and then you said $25....that would be a lack of morals and integrity.

ickybaby said:

No one can because it isn't a lack of integrity or morals. It is an honest transaction,PERIOD. Idon't even see how anyone could argue that paying a posted price would show a lack of integrity or morals.

Now if someone said "Give me what you think it's worth" and then you said $25....that would be a lack of morals and integrity.

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It's not an honest (the whole truth) transaction if the buyer knows he is getting away with a steal and the seller does not. Guess it depends on the meaning of the word "sex". Whoops, I meant "honest".