Money Moral Dilemma: Should I buy and sell on a lamp that may be worth more than the owner thinks?

rhg87

I don’t think there’s anything wrong with this. My partner does this often. If he sees something that he can make a quick turn around and profit with he will buy it. 

It is down to the seller to know what they are selling as it is the buyer to know what they are buying! 

jaycee999

Nowadays with google and countless other resources to use for research, there is no excuse for a seller not to use them.  If they can't be bothered to spend some time to find out what they have and the likely worth, nobody else has the responsibility to advise them that they are actually underselling themselves!

Pollycat

It's up to the seller to set a price.
It's up to the seller to do any research regarding the value of the item they are selling.

If I take something to a charity shop, I sometimes point out the positives so they can price it accordingly if they want to.

aerofly

Just watch ‘Salvage Hunters”on the TV where an antiques expert visits people and buys from them, agreeing a price with them and then selling on for a profit.
What you are suggesting is no different and is the basis of buying and selling on for profit. No problem!

April9290

MSE_Kelvin said:

This week's MoneySaver who wants advice asks...

I've haggled the cost of a 'marble' lamp I found online down from £10 to £8, but what the seller thinks is marble, I believe to be serpentine, and these lamps easily sell for £30 or more. Would it be wrong to buy it and sell it on for a profit without telling the seller what I think it's really made of?

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I don't think it's wrong, you see it on bargain hunt etc all the time. Things in charity shops etc worth way more than advertised for. And sold for way more. Don't worry

soolin

I’ve had this the other way as well, regulars will know about my doomed idea to sell art (without knowing anything about it). Sold a rather dirty small oil painting on board, un framed , the dead game sort of still life at a car boot for £1. I was pleased to get £1 for it frankly, then after paying the dealer told me that in the current state it was worth around £60 as it was a known artist , and if it was professionally cleaned and framed it could go for nearer £200. That was completely my fault , I’d failed to do any research, I just found the subject matter distasteful and wanted it gone. 

AvidReader

We work as antique dealers and we have invested many years acquiring our knowledge of our speciality. Including buying a literal library of books on the subject and travelling to see museums etc that all add to that knowledge. Our business model is dependent on using that knowledge to add value to the items we buy and sell. Having said that we are happy to also share that knowledge with people who ask for help. 
Charity shops are different, we are friends with many of the managers in our local area and we will often point out where they have undervalued something, in fact they too will often ask us for advice which we are happy to give.

tc251251

Can't see a problem especially with the type of values you are suggesting. It might be a different story if you thought it worth a lot more but that would be up to your conscience.

What puzzles me is that you obviously have a conscience to ask the question but you haggled the seller from £10 to £8, Why? if you think it is worth more why not just pay what the seller wanted? That way you would both be happy.

Diez66

Nope, just buy it. You, yourself, always take a risk when you buy online, auction, well, any private sale.
There can be all sorts of reasons the lamp is described how it is.

If selling I find that auctions sites like ebay often find someone, better still more than one, who knows the value and up it goes.

Go, buy it and if it is what you thought it was, well done, if not, you have been "well Done":

REJP

Short answer is "No, it is not wrong."