Selling A Machine To A Friend: Right Of First Refusal

(Topic ID: 217447)

Selling A Machine To A Friend: Right Of First Refusal


By lpeters82

5 months ago



Topic Stats

  • 30 posts
  • 23 Pinsiders participating
  • Latest reply 5 months ago by Scot0308
  • Topic is favorited by 1 Pinsider

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    #1 5 months ago

    So, I just added a game to my collection and because of that something has to go to clear space and raise funds. I was originally thinking that was going to be Bram Stoker's Dracula, but I have a friend who's interested in my Fish Tales. Because he is a friend who lives close, I fell like I'd still have decent access to the game, so I'm okay with it leaving. I offered him the game for $500 to $750 off of what I feel it's fair market value. However, I did ask for right of first refusal, if he ever chooses to sell the game. I don't know why, but I'm felling a bit guilty about that. Does that seem fair or is that a bit of a jerk thing to do?

    #2 5 months ago

    Not a smart thing to do. At all.

    When you sell a game, you sell a game. That’s it. No conditions or issues that will potentially cause problems in the future.

    To involve a FRIEND in an idea as a bad as this defies reason.

    10
    #3 5 months ago

    Seems fair to me, my friends and I frequently communicate with each other about stuff like that with our collections. I've bought back two of my games under similar circumstances.

    #4 5 months ago

    You can ask, but not demand. Saying “let me kno if you ever wanna get rid of it” is fine.

    #5 5 months ago

    I see nothing wrong with asking to let you know first when he wants to sell the game. However, I would not dictate the price. You should basically expect fair market value during the time of sale.

    Also don't get bent out of shape if they forget or don't end up contacting you for some reason when they sell it.

    If you really don't want to let it go, then don't let it go.

    #6 5 months ago

    I don't see any problem with it at all. I bought a BC from dmacy. He asked if I would let him know if I ever decided to sell it. He's my friend, so you can be damn sure he gets first crack at it. I can see how it could be an issue if the sale price doesn't adjust with the market.

    #7 5 months ago

    This is one way that friends become no-longer-friends. If you want to sell it at a below-market price and have right of first refusal at said price, draw up some sort of contract. Otherwise just sell the game at market price and don't have any future expectations, unless you want the possibility of one or both of you having hurt feelings or more at some point.

    #8 5 months ago

    dibs works nice but in my experience you just sell for a fair price to your buddy and need to expect to also pay a fair price when they sell.

    Giving a discount and expecting a discount is not the best idea in my mind and sets things up for possible issues over a future buy-back price.

    #9 5 months ago

    Nothing wrong with giving a buddy a deal, just don’t expect things to go well if you try to buy it back a few years later for cheap. Seems like you’re setting yourself up for a fight over price with a friend.

    #10 5 months ago
    Quoted from Spyderturbo007:

    I can see how it could be an issue if the sale price doesn't adjust with the market.

    Yeah, that's what's probably not setting well with me. I totally get that point. There are quite a few "ifs", but if he decides to sell and if the price changes dramatically then we'll figure it out. It's just one of those things where I wouldn't normally sell this game at this point, but am only doing so because it's going to a very good friend. Plus, I think that $500-$750 difference would be the difference between him owning a game or not owning a game. This will be his first machine purchase. I think his goal at the moment is to own a Fish Tales and Big Buck Hunter (arcade), which seems like a fun combo. I think we're just going to keep it at a gentleman's agreement. I'm not going to worry about it beyond that.

    #11 5 months ago

    I've done this several times and usually has been fine. It can go either way and depends on the people. Personally, as a seller when I'm ready to sell, I'm ready. Time to move on and if I want the game back, I expect to pay what they want. But I did appreciate when the friends mention they're ready to sell and asked if I mind or was interested. I guess it depends on you and your friends more than anything. I've pissed off a few friends too (non-intentionally) by not offering them a machine I wanted to sell or had someone local stop over and buy when I wasn't even planning to sell. Neither time was intentional but shit happens.

    Short version, it's your machine while you have it and do what you want. Once it's gone, it's out of your hands.

    Quoted from Spyderturbo007:

    I don't see any problem with it at all. I bought a BC from dmacy. He asked if I would let him know if I ever decided to sell it. He's my friend, so you can be damn sure he gets first crack at it. I can see how it could be an issue if the sale price doesn't adjust with the market.

    That guy was a jerk and you likely overpaid. BTW, would you sell it to me for $500?

    #12 5 months ago

    I agree with everyone who says to ask him for a fair market price and if he ever sells to offer it to you for what fair market is at that time.

    #13 5 months ago
    Quoted from CrazyLevi:

    Not a smart thing to do. At all.
    When you sell a game, you sell a game. That’s it. No conditions or issues that will potentially cause problems in the future.
    To involve a FRIEND in an idea as a bad as this defies reason.

    This situations has worked for me both as a buyer and reseller, and a seller and rebuyer. If you deal with other adults, there is no issue here.

    #14 5 months ago

    I see nothing wrong with this whatsoever, and we call it "keeping it within the circle", or network, family, etc.

    My Class of 1812 is spoken for by a good friend who actually sold it to me under the deal it would be his when I'm ready to move on.

    My only rule is that what I currently have in it is what it gets sold back as, as I've made upgrades and improvements since taking it over, or a number that is fair market price. Obviously everything can be talked out, but I keep a spreadsheet of every penny I put into each game and so it's no mystery where I'm at with it. If he doesn't want it after a few weeks heads up it's ready to be moved, then it goes elsewhere. I am fully committed to the gentlemen's deal.

    If you have a good relationship with the friend, communicate and have a gentlemen's pact, go for it. The worst that can happen is they sell it behind your back or don't adhere to the agreement. If that happens you just learned who is and who isn't a trusted friend. Simple as that. It's just a game.

    In fact, if I have a rare game to sell, and a person I know wants it, but I know they're the kind of guy who sells on a whim and doesn't like these pacts, then I may not sell to him. I'll first try the contacts I know will run it back by me. Of course this only works if I'm not in an emergency to sell or anything and can hang onto it if I don't want to cut it loose into the wild.

    #15 5 months ago

    I've learned never to prioritize money when it comes to friends and family. To do so will cause you to lose friends and distance you from family. If you want to knock a few dollars off as a friend do it for yourself as part of being a good friend, don't go on telling them what a good deal they are getting. Good deal or not, if this is his/her first pin expect a number of calls/inquiries when an issue pops up or something goes wrong with the machine. No issue with asking for first chance if they decide to sell, but like others said do not get bent out of shape if it gets sold without you knowing.

    Don't let dollars get in the way of good relationships.

    #16 5 months ago
    Quoted from lpeters82:

    I offered him the game for $500 to $750 off of what I feel it's fair market value.

    This is like giving someone $500-$750, and telling them "If you decide you don't want this, just give it back"

    #17 5 months ago

    Thanks guys, I think I'm just going to keep it as a, "If you decide to sell it please let me know." He already knows I'm not really looking to sell, but I'm letting it go because it's going to him.

    Quoted from davebart5:

    we call it "keeping it within the circle"

    That's the main thing for me. It's not about letting the game go for a little under value, it's about letting the game go to someone at a slight discount because I know it's going to remain in the area. Having that game with this particular friend, is almost as good as having the game myself. His house has some of those smart outlets and we've joked about having his basement unlock and games turn on when it senses my phone in the area.

    Quoted from TractorDoc:

    Good deal or not, if this is his/her first pin expect a number of calls/inquiries when an issue pops up or something goes wrong with the machine.

    I'm 100% okay with this. We often work on other projects together, this wouldn't be any different. If he needs a hand, I'm there to help, period.

    #18 5 months ago

    Just sell me the game at $500 under market price and if i sell it you can have it back at the same price. Always looking for a good deal and i woukd gladly return the favor. Thanks in advance for the deal!

    #19 5 months ago

    And i won't call if the game develops issues!

    #20 5 months ago
    Quoted from dmacy:

    That guy was a jerk and you likely overpaid. BTW, would you sell it to me for $500?

    You do realize what my wife would do to me if I ever sold that game, don't you?

    #21 5 months ago
    Quoted from tamoore:

    This situations has worked for me both as a buyer and reseller, and a seller and rebuyer. If you deal with other adults, there is no issue here.

    Adults?

    This is pinball.

    #22 5 months ago
    Quoted from Spyderturbo007:

    You do realize what my wife would do to me if I ever sold that game, don't you?

    What a jerk for not selling it to me! This is a great example why not to sell to friends!

    #23 5 months ago

    What's wrong with asking for first refusal? That seems like the natural thing friends would do. Price is the only issue. He might decide to sell the game two weeks later for far more than what he paid for it. That kind of thing would upset me. I would just sell if for fair market value and don't expect anything more.

    #24 5 months ago

    You are selling a game that you “really do not want to sell” sounds like, but he is a good friend and you are thinking about selling to him because you like him alot. I have sold several items that are special to me for various reasons and i made an agreement with the buyer that .....if you ever decide to sell this you got to promise me that i have first chance at it because i will probably want it back.

    There is nothing wrong with that at all. You think enough of this guy that you are willing to sell him a game that you really dont want to get rid of so you make a gentleman’s agreement that he has to give you first chance back at it if he no longer wants it. Absolutely nothing wrong with that what so ever.

    #25 5 months ago

    Since you are unsure if you want to sell the game, loan it to him.
    See how that feels, and if you decide that you don’t miss it, then you can consider selling it.

    #26 5 months ago

    Keep the FT and sell me the BSD. Easy solution.

    #27 5 months ago
    Quoted from fumbleflippers:

    Keep the FT and sell me the BSD. Easy solution.

    First, I love both games, but I'm one of the fools that actually does enjoy Fish Tales just a smidgen more.

    #28 5 months ago

    Depends on you and your relationship with your friend. I'd rather not have any pinaball game get between me and a friend.

    #29 5 months ago

    I sold a 69 Camaro convertible and the final part of the deal was a handshake and gentlemen’s agreement that if/when he ever decided to sell it, he would give me first crack at buying it. We have stayed in touch over the years and he’s kept me updated on how he’s been fixing it up. Now...will I be able to afford it when my phone rings down the road? We shall see....so to answer the OP question, I think it’s ok to have the gentlemen’s agreement and keeps hope alive

    2 weeks later
    #30 5 months ago

    No matter what happens later on this might be a good thing for you. I'm kind of in a similar situation where I'm trading a game that I love for another and kind of feeling like I'm about to loose my dog. It's strange, part of me is interested to see how it turns out. I have had similar feelings with games before and always gotten over it after I picked up a new one. I say it's time to move on and just plan on not buying it back. If you're anything like me it's likely that you won't even want it back when he's ready to sell. You'll have moved on.

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