Ivankovich

Seller’s Remorse is relatively common in private transactions within the Antiques & Collectibles trade. Basically, “Seller’s Remorse” is when someone sells something to another person, and then, after the sale has been completed and the items have left their control, they experience some form of regret and want their items back.

• Sometimes they feel guilty about selling because the items had sentimental family value.

• Sometimes they feel they sold too cheaply and should have asked for more money.

• Sometimes a third party, such as a neighbor or family member, gets their ear and tells them that they were taken advantage of, regardless of whether the selling price was fair or not.

• Sometimes they fail to understand that the market has changed, and what their items were worth in 1995 has no bearing on today’s value.

• Sometimes they sold items that their children didn’t want … but now minds have changed.

• And sometimes simple guilt takes over and the seller feels true regret, regardless of whether the selling price was fair or not.

Seller’s Remorse is one of the things I like dislike most when buying privately. Because no matter how fair the transaction is, some folks will feel Seller’s Remorse after the deal is done and try to rescind the transaction. Sometimes they want it all back; sometimes they want more money, and sometimes they only want a piece or two for sentimental reasons. But either way the buyer is put in an awkward position.

When buying privately I try to make certain that the Seller understands all elements of the transaction.

1. Are they absolutely sure they’re ready to let the items go?

2. Are they happy with the offer price?

3. Do they understand that once the items are gone, they’re gone?

If I sense any element of doubt, I’ll usually walk away from the transaction rather than move forward, because the consequences of a bad deal just aren’t worth it.

WHAT’S IT WORTH? What are the consequences of a Deal-Gone-Wrong? In a Deal-Gone-Right, not only will you make a few dollars on your initial purchase, hopefully the Seller will refer you to their circle of family, friends & neighbors, and there will be additional future business. In a Deal-Gone-Wrong, the ill-will generated will destroy all potential future business opportunities within that group and beyond. It’s a small world and bad news travels fast. And even if you did nothing wrong, I’ve found that it’s usually easier to make the Seller happy and return the items for a complete refund. There are too many good buying opportunities for “Good” business to be damaged by “Bad” business.

Mike Ivankovich is an Auctioneer, Appraiser, Home Downsizing Expert, and host of the “What’s It Worth? Ask Mike the Appraiser” Radio Show. Now in its 8th year, “What’s It Worth” airs live in the Philadelphia PA area on Friday mornings from 9:30-10:30 AM EST on WBCB 1490 AM, and on the Internet at: www.WBCB1490.com. Mike offers House & Estate Contents Appraisals nationally through his www.ZoomFacetimeAppraisals.com web site, and he has presented his “What’s It Worth” Zoom Appraisal Program in 24 states. Details on how your group can book Mike can be found at: www.MichaelivankovichMEETINGSPEAKER.com