Business Ethics opinions needed Please

[danmckee]

Hello everyone, before I give the situation, I would like to make it perfectly clear that I am not involved except both parties are friends of mine.

A card is listed on a business's website for sale.
A buyer adds it to his cart, then purchases and promptly pays for it for $400

He then receives a message from the seller:

"I am afraid that the card you ordered on our online store last night are not currently available. They were not supposed to be listed on our online store as they are away for grading, we do not know when it will come back, and the grade could be anything from no grade to a high grade. I will however make the card available to you when I get it back from PSA. We will issue you a refund on Monday when we are back in the office."


The card came back a 2.5 and the seller charged the same buyer $700 now.


Your thoughts and opinions are appreciated.

Thanks
Dan Mckee