Debrief

Sugar Bowl: Role of Seller

You are an antique dealer who primarily does business online, buying and selling items via various electronic auction houses. You’ve developed a reputation for being able to locate almost any item, and now frequently serve as an agent conducting searches and purchasing sought after items for collectors and other dealers. You also occasionally set up a booth at a “high end” artisan and antique market, sponsored semi-annually by a local community. The expense to set up for the day is minimal, and it affords you the opportunity to make contacts with potential clients and collectors. From a selling standpoint you primarily use this marketplace to sell off merchandise that you’ve been unable to move elsewhere and to market some regional items that you believe can command more from local customers Many of the shoppers are savvy bargain hunters, while others are relatively ignorant and will happily overpay for items that will serve as conversation pieces in their homes.

Business on this particular day has been steady, though unspectacular. Of the 60 pieces that you brought, you’ve made just a single $300 sale. Happily, a customer seems to have taken an interest in a small silver sugar bowl that could help make your trip to this antique fair worthwhile.

In reviewing your inventory list, you notice that this piece was originally purchased for a local client after an exhaustive search. Unfortunately the client, like the search, proved to be very difficult. The client refused to accept the sugar bowl due to a minor blemish that you, to this day, have a hard time finding. Foolishly, you approved of the piece upon its delivery and paid the $350 (including fees and shipping) to the consignment house. Attempting to return the item after inspection is bad form, hence, you were stuck with the sugar bowl.

Your original client was to pay $650. This agreed upon price was well within the widely...