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Can a buyer back out with no penalty?

Hi members,

Last week I got an offer for a preamp on Audiogon which I am selling. The buyer offer cash local pickup and he required an audition before taking the preamp. It seems fair to me so I accepted his offer.

Yesterday he came to my house with another guy. They spent almost an hour to play through my system. Then finally they said they don't want to buy it with the reason "I don't like the sound". I tried to explain to him that after the buyers' offer is accepted that is a commitment to buy. Unless the product was not as described in the ads, he has to take it. They just left without saying anything.

My question is: what do we do with that kind of buyer, how to deal with this situation correctly?

Thanks,

Calvin

dangcaonguyen
tls49's avatar
tls49
1,351 posts
 
"There are and should be the degrees of wrong."

Thanks for the laugh. That’s funny, like being a little bit pregnant. You are certainly entitled to your opinion, but the varying part is the end result of the action. Sure there is a greater loss breaking a $100,000 contract as opposed to a $1000 contract, but one is just as wrong as the other. The varying degree is the amount of loss that is the result of the wrong action. There is no difference in the action, only difference is the end result.

And I totally agree to take life easy, but that doesn't mean to let people abuse and take advantage of you.

jperry
2,433 posts
 
"minorl
... when they accept the offer after we communicate via audiogon, phone or email, I have a pretty good idea about the person I'm dealing with."

I agree with you on this, and I make it clear that they are there to confirm the equipment works and appears as represented, not for a test drive to see if they like it. I insist on a phone call before I allow them to pick up an item in person. If the buyer start to balk at that in the least I find another buyer. Also, you should only accept cash if they pick up the item. 
douglas_schroeder
3,281 posts
 
ebm, after talking incessantly about Magico what speakers did you buy? Should we presume another set of Magico? Or, is the magic gone? :)



stringreen's avatar
stringreen
6,384 posts
 
The best thing to do is walk away and get on with your life.  Aside from giving the prospect a neg. rating (which no one cares about)....that's life
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