Topic: Backing out on a deal....

[Japbikemike]

I put a bike up for sale, I get a buyer, he looks the bike over and gives me 1/2 the cash up front ($500), hold it for a week till he picks up.
Day before pickup, he emails and wants to kill the deal because his buddies tell him it's too much for the bike, then quotes the Kelly Blue Book.  He wants all but $50 back.
So, do I give it back or pocket the cash?  YOU DECIDE!

[mkramer1121]

Nope, its a nonrefundable deposit on the bike, you held it for him instead of selling it to someone else, he should have researched it prior to the deal.  What you decided on for payment should be what he pays, its a contract.  His own fault.  Sound like he knew what it was worth prior to the bid, just wanted to see if he could give you some cash, then make you mad by not paying and get it for less.  Maybe try to work out a happy medium, say midway between what he was gonna pay and what he thinks its worth.  Just a thought.

[Bob Wessner]

because his buddies tell him it's too much for the bike

How many buddies does he have and how big are they?  Life's short enough.

[Rushoid]

Nope, its a nonrefundable deposit on the bike, you held it for him instead of selling it to someone else, he should have researched it prior to the deal.  What you decided on for payment should be what he pays, its a contract.  His own fault.  Sound like he knew what it was worth prior to the bid, just wanted to see if he could give you some cash, then make you mad by not paying and get it for less.  Maybe try to work out a happy medium, say midway between what he was gonna pay and what he thinks its worth.  Just a thought.

Yeah, I agree.

[heffay]

i think non-refundable deposit was the key-hyphenated-word. 

but, play the good guy/bad guy     tell him "since i'm a nice guy, i'll refund half of your non-refundable deposit. 

then, take that as a hint... KEEP THE BIKE and buy another 

[hawkeye]

you get a free $50 for whatever inconvenience you were caused.  I'd just give him his money back, it's not worth being a jerk over.  Not like he wrecked the bike and wants a refund or something.

[bill440cars]

Nope, its a nonrefundable deposit on the bike, you held it for him instead of selling it to someone else, he should have researched it prior to the deal.  What you decided on for payment should be what he pays, its a contract.  His own fault.  Sound like he knew what it was worth prior to the bid, just wanted to see if he could give you some cash, then make you mad by not paying and get it for less.  Maybe try to work out a happy medium, say midway between what he was gonna pay and what he thinks its worth.  Just a thought.

Yeah, I agree. He should accept responsibility for his actions

              Me Too!! If he'd made the deal on ebay, He'd have to follow through or suffer the consequences. If he's out looking for a bike, he should have his act together before he makes a commitment. Just my 2 cents. His actions might have cost you to miss out on several possible customers. Who knows.                        Later on, Bill

[Uncle Ernie]

If nothing was written down, then you have the cash and the bike/title.  It's completely up to your sense of charity.  Personally, I'd wait a couple of days (to cool down) and give him all but $100.

[DiscoEd]

Perhaps it would be easier to comment on this if we had a common frame of reference...

What kind of bike were you trying to sell to this guy?

[Gordon]

Tell him you have no idea who he is or what he's talking about, but if he's looking to buy a motorcycle, you've got one you'll sell to him for $500!

[Japbikemike]

Perhaps it would be easier to comment on this if we had a common frame of reference...

What kind of bike were you trying to sell to this guy?

1981 Suzuki GS 450 S.  $950, he never offered less.

[Tim.]

Just tell the guy while you were holding the bike for him, you turned away other buyers.  Give him $300 back.  Not sure why he was willing to give you 1/2 the cost of the bike as a deposit - that's a lot.  Keeping $200 for holding the bike for a week is fair.

Of course, if nobody even approached you on the bike, and you're a nice guy (I'm not so nice) maybe give him $400 back.  No way I'd settle for $50.

[DiscoEd]

Gee whiz Mike! You live on the wrong coast! I'll give you the other $500 plus another$ 50 if you can deliver to PA.

I would tell the guy that you've heard the "My buddies told me it's too much" line before and that you understand that his wife found out he was going to buy the bike. Then tell him you're giving back the money so he can buy a pair.

[Japbikemike]

Gee whiz Mike! ... tell him you're giving back the money so he can buy a pair.

Ed--I just shot beer out my nose...mmmmmm-Porter.

[Dusthawk]

I would tell the guy that you've heard the "My buddies told me it's too much" line before and that you understand that his wife found out he was going to buy the bike. Then tell him you're giving back the money so he can buy a pair.

I apologise in advance to any and all who may take offense at what I post herein, I've had a horrid day and dealing with scum like this sounds like a lot of fun right now.

Everyone has gotten that line before. Kelly Blue Book is Worthless for that Sweet ride you got. No ifs ands, or buts about it. KBB if fine for a vehicle with original equip but you have spent time, energy, Love and last but not least, Money to get such a nice ride. Put it to him you are Giving it away at $1000. You aren't that desperate for funds that you will off the bike for that insulting amount, let alone let someone like him insult you for his 'friends' opinion on the worth of a bike they haven't even seen. What is thier frame of reference besides the Blue Book? Do not, I repeat, Do Not let this yahoo take advantage of you.

My opinion, give him $250, tell him you turned away other buyers who knew the value, then kick him off your property as a trespasser with extreme prejudice.

Oh, and we all know he'll never be the one in the family with a pair.

Peace and Long Rides,

Jeff

[meanboyjr]

I zooted around for many years on an '81 GS450 S just like that one, except mine was black. I paid $600 bucks for it, and it came with an extra engine and other assorted bits. I loved that little twin - still sorry I sold it. Yours looks pretty solid, and it's got the fairing intact, too...I don't think $950 is outrageous.

Outrageous is him asking for his money back. I guess you can be a nice guy and get $50 for your troubles, or be a hardass and have $500 for your troubles...  

[Raul CB750K1]

I'm with most of the people here. Adults are considered to be mature enough to stick to their word. He struck a deal, he should have researched before.

500$, even when the law is at your side, is an enough high amount for an angry person to keep buggering you forever. But if you let him go for 50 bucks he won't learn the lesson.

That way, I would keep at least $200 for me, and give him the other 300, but reluctantly. So he will be happy to get at least part of his money back, and the experience will teach him a lesson to be more serious in the future.

Bottom line? He has been told the bike is too expensive, but he is going to leave without 200 bucks. So he will buy a cheaper one that will cost him 200 bucks more. Maybe he would rather buy yours instead?

The other day I won a couple auctions on eBay. I regret bidding too late -because I didn't really need them-, and told the seller how about paying him the fees and he relist the items. The price with shipping included was 40 euros. He told me it was fine for him if I paid him 10 euros. It was too much in my opinion, but I was the winning bidder. So between wasting 10 euros, or paying 30 euros more and getting the parts, I finally stuck to my winning bid and sent the payment.


Raul

[DiscoEd]

Gee whiz Mike! ... tell him you're giving back the money so he can buy a pair.

Ed--I just shot beer out my nose...mmmmmm-Porter.

oooops! Sorry Mike. 
(I find Porter to be very soothing in situations like the one you facing. I like refer to it as therapist in a bottle.)

[Uncle Ernie]

The problems of selling bikes and cars....  If that bike is as good as it looks in the picture, it's easily worth $1K.  In the next ad, ask $1300 and come down to a thousand if neccessary. Sometimes reverse psychology really works.  There was a developement site here that wasn't selling plots. After a year and a half, they doubled the price and they're nearly sold out !

[6pkrunner]

Well if he wasn't stable enough to make a decision by himself about a price and let others tell him what to pay, I'd be leery. While you do have the right to keep the money, let the loser off the hook and give him his money back. You can always resell the bike, but he'll go through life being told how to live it.

[BobbyR]

The bottom line here is "he looked at the Bike" "he agreed to the price". The rest is all noise.

[Raul CB750K1]

If he threatens you, show him that picture of you with the piece of meat and the kitchen knives, and tell him it is the remains of the last one that backed up from a deal with you... HAHAHAHAHAHAHA


Raul

[Gordon]

So, have you made a decision?  I'm itchin' to know the outcome!  Don't leave us hanging on the cliff!

By the way, I'm with the "keep $200" contingent.  If he truly thinks it's an unreasonable price for the bike, he'll reluctantly walk away and learn a valuable lesson.  If he's just screwing around with you, he'll pay you the rest because he never really intended to back out, but was just trying to get a better price after agreeing to the original $950.  But whatever you do, please don't sell it to him for less than what he agreed to in the first place. 

[Japbikemike]

If he threatens you, show him that picture of you with the piece of meat and the kitchen knives, and tell him it is the remains of the last one that backed up from a deal with you... HAHAHAHAHAHAHA


Raul

[BobbyR]

You can also show him your Uncle's picture