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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
lloydc's avatar
lloydc
751 posts
 
why would you refuse cash?
inna
7,296 posts
 
Dangcaonguyen, I understand and could probably make an exception for some people, but very few. I bought all my equipment unheard, got lucky, most of it was bought on Audiogon.
inna
7,296 posts
 
Why refusing cash? First, I would want to get paid before delivery or even pick-up to avoid a potential 'shoot-out'. And second, there are fake banknotes. In any case, I suggest accepting cash only in $20 not $50 or $100 bills. Again, I might make exceptions, but as a general rule - no way. If the banknotes are fake and you take them to the bank and the bank figures it out, you may have problems or at least a very unpleasant day, not to mention you will have no money.
ebm
9,311 posts
 
Another Audiogon turkey!!! I had a guy came over to hear my Magico Mini 2 after 5 min i knew the JERK was kicking tires i finally had to ship them to another buyer.
jbrrp1
423 posts
 
Two times over the years I've done this for a local audio nut, and both times it turned into clear "tire kicking", treating my house like it is an audio salon.  I will only do cash pick up for convenience, but not offer an audition.  Whether it is local or distant, we all take a chance to try out different used gear in our systems to find the right matches.  Someone seeking a "audition/approval" because of the local advantage is just a big red flag to me now.
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