Quote:
Originally Posted by Snapolit1
I think there is a huge difference between getting a good deal and royally screwing someone.
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Quote:
Originally Posted by rats60
A good deal is fine. Paying 1% is another matter.
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Agreed. The buyer, who appears to be an expert, seems to have taken advantage of the seller, who either did or did not do their homework or enough homework. We have no idea what the buyer also would have said to the seller for them to agree to $500 for the collection but at the very least if there is gross inadequacy of consideration if the collection turned out to be worth 50K.
As a dealer I have been in a position many times to "use my expertise" to get a fantastic deal but in all instances I provided substantiation of market value to the sellers so they could make a truly informed decision on the value of what they were selling.