Huge garage sale score!

[silversaddle1]

We stopped at a garage sale pre sale and were looking around an found a big rubbermaid tote ful of old costume jewelry. Though what the heck, looks like box after box of old stuff, put in in our pile. Well by the time we left we had a pile that filled the back of our pick up. Lots of antiques, old tin toys, musical instruments, and this tote of jewelry.

So we ge home and unload everything and I start looking thru this rubbermaid tote. Well it was a goldmine! So for we have found over four ounces of marked sterling silver stuff AND..... Five ounces of marked karot gold! I'm beside myself!
And we have some left to test yet that I'm pretty sure is gold. Price the guy quoted was stupid low for the whole pile, the guy had no intrerest in any of the stuff whatsoever. I questioned the price twice, nope, get it out of here.

I did learn one thing with this tote, if it looks good, test. I have found a few pieces that are not marked in any way yet have tested 14kt and above. So just because it's not marked, don't just pass by. And I have found this to be very common with sterling jewelry. I know the thread is useless without pics, so when my son brings the camera back home from camp, I will post pictures.

So one question. Do you think I should go back and give the guy a little more cash, or should I just be happy with the gift given to me by the Good Lord above and count my blessing?

 

[Barren Realms 007]

I think you would feel better after you get the toal of the refined stuff and it is a lot higher than the price paid if you compensate the seller a little more. Might even get the word out to others and bring you in more material. There is nothing like easing that nagging feeling in the back of your mind of should I or shouldn't I have done this.

 

[ericrm]

im sorry for your concience because it will suffer.
you CANT go back,
what will you do ?give him 5000 $, next time he see you what he will tel to his friend ???? your a crook ,he will never be able to pass over the fact that if you give him 5000 you have keep 10000............ you will become someone loaded with money that will become an easy pray to spot...........

take it as it is, you have been lucky ,and pass to something else.

edit the only thing that would make it change my mind BUT still would put you in danger is a dead poor familly that are going to loose theyr house or something like that

 

[necromancer]

i would go back if its worth a large amount, and leave a good portion with the seller, even if it needs to be left in an envelope and put in the mailbox

if he "just wanted it gone" and you wanted to make a "profitabe buy"

it will still work well for both parties, you never know why the sale was held in the first place? maybe a death in the family or ......

i would say no harm in being honest & they may be in need of the extra money, they say the truth will set you free

 

[Geo]

i see nothing wrong with making as much profit as you can from your buy. you did not act deceitful or underhanded, you ask and he made the price. i say make your profit. hes happy to have gotten what he got and your happy with what you got. as long as you didnt stand there and tell the man there was nothing of value and haggle the price lower knowing it was worth much more.

its like a question asked in high school ethics : if you buy a used car and while changing a flat tire you find an envelope with many thousands of dollars worth of cash, do you return the cash to the car dealer, try to find the previous owner and give the cash to him, or keep the cash and use it wisely.

obviously the cash didnt belong to the dealer, because what kind of car dealer keeps cash like that in a car for sale.
the car may have changed owners several times before it came to the car dealer.
the answer would be to keep the cash and use it wisely with a clear conscience.

i know this is not the same thing because you know where the material came from, but in his mind, he made a good deal. i would let him continue with that feeling.
no one likes being made to look like a fool and if you go back and offer him more money, theres a chance it could offend him by making it look like he doesnt know how to take care of his own business.

 

[NobleMetalWorks]

If you want to ease your conscious, then buy a few game consoles and go down to your local children's hospital. Donate the equipment to be used by children who are terminally ill, and in bed all day. Not only will this ease your conscious, but it will bring some enjoyment to the life of a child that otherwise would not.

Scott

 

[maynman1751]

i see nothing wrong with making as much profit as you can from your buy. you did not act deceitful or underhanded, you ask and he made the price. i say make your profit. hes happy to have gotten what he got and your happy with what you got. as long as you didnt stand there and tell the man there was nothing of value and haggle the price lower knowing it was worth much more.

its like a question asked in high school ethics : if you buy a used car and while changing a flat tire you find an envelope with many thousands of dollars worth of cash, do you return the cash to the car dealer, try to find the previous owner and give the cash to him, or keep the cash and use it wisely.

obviously the cash didnt belong to the dealer, because what kind of car dealer keeps cash like that in a car for sale.
the car may have changed owners several times before it came to the car dealer.
the answer would be to keep the cash and use it wisely with a clear conscience.

i know this is not the same thing because you know where the material came from, but in his mind, he made a good deal. i would let him continue with that feeling.
no one likes being made to look like a fool and if you go back and offer him more money, theres a chance it could offend him by making it look like he doesnt know how to take care of his own business.

I agree with you Geo! I also buy and sell fishing lures. Some are very collectable and valuable. I have made buys on an auction site and had the seller come back and say that someone told him that they were worth much more. My reply..... if you don't know what you're selling and its value, then you shouldn't be selling it.
Everyone tries to make the best deal that they can and get the best price for what they're buying.
Geo's sig line says "Knowledge is power".....well, Knowledge is money too!
If you want to give some of your profits to charity, then that is very admirable of you. But I wouldn't feel indebted to anybody for the great deal that you made.

 

[boutselis]

I have no problems with big profit. Even 100% profit or more. But there come a time when profit is not all you should look at. If you are going to far exceed double your money, which it sounds like you will, then maybe think of the guys position. Just because some one is stupid or ignorant does not mean you should take advantage of them. I do not agree with the idea that if a person does not know the value of something they are selling then they shouldn't be selling it. Suppose the guy has mental problems. he should't have a garage sale because his mind isn't right? Maybe he has low intelligence and is not quite disabled with it but still can not make good decisions.

It could be any number of things. It could be he is nothing more than too lazy to care or too depressed to care. I think people need to fend for themselves as much as possible but its not a 100% dog eat dog verdict. suppose some one was not careful enough and lost something of value and you found it. You wouldn't say it was his fault for being so careless.

You deserve profit. You deserve as much profit as possible so you have done nothing wrong at all in any shape or form unless you knew for certain the guy was mentally handicapped.

But if it were me

I would wait till I made a very good inventory of everything I bought and made a good calculation of what it would be worth, subtract say 20% for error and then see what % profit I was going to make and would calculate what time it was going to cost me to bring him a bonus and then pick my number. After it was all said and done I would probably look at returning most if not all of anything past 150% profit.

I certainly wouldn't hold anything against some one who kept all of it though.

Congratulations on the cool find no matter what you decide.

I just thought of one more thing. If you were talking about having spent $5 and were going to make 10 time that then I wouldn't bother. The gross amount involved matters. But I know your talking about a much larger amount.

 

[patnor1011]

Now it become funny... It is like go to previous share holders to let them know that shares they thought are worthless become gold mine and that they deserve to have a cut out of i,t as they did not know what they were selling.

Things like that never happen in real life. I would do what Scott suggested. It is always nice to tell others what to do but it is nearly the same as casual promise to checkout girl that she will get a half (or whatever percentage) of that lottery jackpot... She will be the last one who you think about when you win. :lol:

Do USA pay something to Russia? They certainly got Alaska cheap and now there is that gold and oil over there....
http://en.wikipedia.org/wiki/Alaska_Purchase

 

[milkandpie]

Take it as sign you are living your life right!

 

[silversaddle1]

Seller has told me we made a deal, he knew there was good stuff in ther and he did not want to mess with it. Fair enough. He also said three other people passed the tote up.

So it's a done deal and everyone is happy!

 

[nickvc]

Seller has told me we made a deal, he knew there was good stuff in ther and he did not want to mess with it. Fair enough. He also said three other people passed the tote up.

So it's a done deal and everyone is happy!

I commend your desire to be fair and because perhaps that's what you wanted to be you had for me the right outcome, a deal was struck and you both are happy with the result.
My view on business is that you stand by your word win or lose, if I sell something for $10 and the buyer then sells for $1000 that's his gain because he knows more than me and the same applies the other way round, it's business!
On a personal level what you then decide to do with any profit is down to you to decide based on your business, family needs and your own requirements. I find the view that profit is bad very strange and at odds with real world experiences where everyone from family to governments needs those profits to continue to exist and function.
Find more deals like that if you can and shrug when you buy a loss maker, it's only business!

 

[Marcel]

A good deal is one where both partners are satisfied.
From that perspective, no need to have a bad concience.

 

[rahibi]

This is a hard dilemma. Think about it if the deal was reversed. Would you go back wanting your money back if the items weren't profitable? Either way you decide to go do what feels right to you.

 

[Harold_V]

This matter is a no-brainer.

Years ago, not long after I started out, I stopped at a garage sale in my neighborhood. I did not know the people.

They had a set of sterling silver flatware, service for 12, virtually new, but not a great pattern. Sort of ugly, really (I love nice sterling flatware and own three sets). I asked what they wanted for the set, including the nice wooden casket. $200, I was told. I bought the set without hesitation, as it was worth more in scrap than the asking price, and this is when silver was under $2.00 ounce.

Did I have a dilemma over the price?

No, I did not.

Reason?

It was set by the seller, not by me. I had the option of telling them yes or no. Considering the hour, it was clear to me that the set had been there for some time. They most likely figured it wasn't going to sell at all. I remember the gal telling me that they wanted to sell it so they could buy stainless--that she didn't like the idea of having to polish the silver. (very heavy sigh! It needs not be polished if you use it regularly)

I consider it a serious breach of ethics for a buyer to offer a ridiculously low price, but if the seller has no clue and is happy with the asking price (one they have chosen), grab it and run like hell. The only exception to that would be if you know that the seller is in dire straights and must sell cherished possessions in order to survive. I would have a great deal of difficulty trying to live with myself, knowing I had the opportunity to help a needy person but chose, instead, to profit by their misery.

Beyond that, it is not my responsibility to school everyone I encounter so they can profit from my knowledge. If they wish to know what I know, they can pay the same dues I've paid in achieving my success, such as it is.

Harold

 

[tek4g63]

Beyond that, it is not my responsibility to school everyone I encounter so they can profit from my knowledge. If they wish to know what I know, they can pay the same dues I've paid in achieving my success, such as it is. 

Harold

This is a great statement! It can be applied to so many more situations in life. It should be a sort of motto for this forum. Because it does not mean that you won't help, it just means your not obligated to.

I also agree with Harold, with the exception of someone in real need, I say a good deal is just that, a good deal. Congrats on your find.

 

[Houdini]

Congrats for your success. If your consious is bothering you for your good luck, make a charitable donation. The seller won't miss the money since he has already been paid what he wanted. Your donation just might do some good. Then go out and find another garage sale. Good luck.

 

[joem]

Awesome score, no need to go back. A deal is done.

 

[MMFJ]

As an odd 'further' on this post, just yesterday I was asked to test some items by the guy that has been helping me get everything moved out of the house, and will be buying the bulk of the business items.

As I'm teaching him the business (part of our deal), I was happy to show him how to test the gold.

He had a small bag of items that he'd "come across"..... (as he is a scrapper that loves dumpster diving, etc., you never know what he's found...)

I began testing this one item that really caught my eye - what looked to be quality karat gold tie tack. Not having my loop handy (it is already packed in my suitcase!), I struggled to see the item under the microscope, but found it was stamped 14K. I told him it was printed "United States Of America" and "Twenty", saying it was a tie tack copy of a $20 gold piece - pretty nice find!

We proceeded to look at other items - gentlemen's items, tie bars, tacks, cuff links, etc. - all pretty nice, some gold, mostly costume.

It wasn't until just this morning when I woke up suddenly that I realized these items were MINE~ :shock: - things I'd had put away for many, many years (from the mid 80s or so anyway, when I used to wear $600 suits to go to work....)

Of course, I will probably tell him about this, but neither will I ask for, expect nor take any compensation - the box containing it was given to him as part of the deal for him helping to clean the house. We had ample time to sort through things, it was offered out as it was......

Finder's keepers - of a sort.

(I look at it this way - it puts another $100 or so in his pocket which gets me paid for the lot quicker!