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Sold my collection to a friend and feeling a little screwed

#1 User is offline   Mr Nobody 

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Posted 10 February 2013 - 08:38 PM

Without going into too much detail, I'm having to make some life changes that require me to sell my collection. I'm part of a group of other 'toy enthusiasts' that sell their stuff at the one of the local flea markets. James is the guy I used to work with before I had all the home drama that requires me to 'grow up' for the time being (I kept a few gems to keep myself sane, but I pretty much gave/sold the rest to him). He knows about my troubles and offered to buy my stuff. We have another friend named Rich that just got kicked out of the store-space he was renting that effectively put him out of business, so he offered his stuff to James first. James was considering buying us both out, but decided to only get my stuff. I asked for $7000, and he said that Rich was only asking for $6,000 (Rich's store was a comic shop; he had more comics than anything, but I have/had a buttload more toys than he does, vintage and otherwise). I came down to Rich's price thinking I would get paid soon, since James is aware of my situation and knows I need the money just for the next 2 or 3 months. After we get it all loaded away into his custody (which required filling up his truck twice), he gives me a down payment of only $100, saying he'll get more money tome when he can. I joked with him, saying I hope it's not going to be just a hundred bucks a week, to which he then says, "it might be."

I was stymied to say the least. He knows I'm not trying to linger here any longer than I have to, and not only does he squirrel me down in price, but it seems he now wants to make me wait more than a year to be paid off, when he has the means to pay up if not in one lump sum, then at least 2 or 3 at the least. In retrospect, I'm livid that he did things this way.

I already plan to talk to him about this, and possibly cancel the deal, with the distinct possibility of ending the friendship as well if he isn't receptive to my concerns. I'm not someone whose quick to anger, so when something like this happens, I'm stunned because I don't expect it to happen when dealing with friends.

Does anyone think I let him take advantage of my situation, or did I do it to myself by not speaking up earlier?

#2 User is offline   Dragon66 

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Posted 10 February 2013 - 08:59 PM

Sounds like he is trying to screw you over, in my opinion. I hope you can get your stuff back without too much hassle, but you need to cover your rear just in case

#3 User is offline   JoeRhyno 

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Posted 10 February 2013 - 09:01 PM

No matter what, friends or no, I would have come up with a form of payment before anything changed hands. I bought some stuff off my friend years ago, and that's what I did. I said, I'd love this stuff, but I can't afford $350 right now, how about I five you $150 now and then $50 a month after that.

I'm hoping you can talk to your friend, maybe you really need to explain how desperate you are for the money and see if he can give you more up front and then more once a month. If not, and he sticks to the $100, then yeah, I'd cancel the deal and get your stuff back.

Hope things work out for ya.

#4 User is offline   BigBot84 

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Posted 10 February 2013 - 09:05 PM

Since he wasn't up front with you that you wouldn't be getting the $6K at once, I say cancel the deal and get your stuff back. If it ruins the relationship, so be it. If money will break it up with him, maybe it wasn't worth having.

This is just my opinion though, and obviously take it with a grain of salt.

#5 User is offline   Nguyen_Dragon 

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Posted 10 February 2013 - 09:20 PM

I would avoid doing business with friends going forward...

#6 User is offline   Doom Saber 

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Posted 10 February 2013 - 09:51 PM

I think the problem is that he wasn't straight with you at the beginning. Having payment plans is okay as long as you agreed to it before the "handshake". However, it sounds like it was done afterwards.

Before you agreed with the hundred dollar down payment, it would have been best for you and him to negoinated the price fully. If you can back it out, try and sell your stuff on eBay. You might not make the money you want, but at least you will get it right away.

#7 User is offline   FUGAYZIE 

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Posted 14 February 2013 - 12:09 AM

ALWAYS work out the money details before accepting the deal! that is the fault of both of you. hope it all works out.

#8 User is offline   Mr Nobody 

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Posted 14 February 2013 - 11:21 PM

Thanks for all the replies, folks.

We HAD worked out the amount of the deal ahead of time, he just didn't have it on him. His whole "might be" comment was actually a joke that got past me (it happens, I'm pretty dense sometimes :rolleyes: )

I did talk to him the other day, like I said, and he was already working on getting together a big lump sum for me, which he gave me today (totaling just about a third of the due amount, actually).

All's good in the hood. Thanks for the responses, guys! :)

#9 User is offline   JoeRhyno 

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Posted 15 February 2013 - 12:02 AM

Well that's good to hear, I thought we were going to have to get a gang together and visit your buddy, lol.

#10 User is offline   Nguyen_Dragon 

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Posted 15 February 2013 - 12:03 PM

That is good to hear...

#11 User is offline   CaptainTriumph 

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Posted 15 February 2013 - 01:04 PM

That's great!

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