I would do it

Don't agree to meet him in a back alley to get your first payment.
But seriously, if you have the room to hold the machine, I like how you think about helping someone new into pinball, you sound like a good guy yourself. I have personally sold machines to 3 different people on the payment plan, and have even let the machines go their way before I was fully paid (all local guys in the pinball community though) and never had a problem. In fact they have turned out to be later friends and sources for selling more games to.

As long as you can hold the machine until PIF, I don't see the risk on your end.

Pinball layaway...

Honestly taking money and not delivering the item could be dicey. If I were you, just tell him you'll hold the game for him. Don't take money from someone without delivering the game.

Unless you need the space or the money right away, why not? Don't really see how you can lose and in the end you brought someone new into the hobby.

As long as the money is non-refundable, what do you have to lose??

Make a simple contract agreement that states the time limit to make the payments and then what happens if they are not made; e.g. if you are x days late the contract is null and I'll return y% of the money paid in.

You don't want to hold the machine indefinitely and you also want to handle up front how much of the payment is non-refundable. (conflicts are easier solved before they happen!)

My recommendation is that there has to be some value for y > 0 so that you aren't holding the machine for nothing.

Other risks might include change of condition of the pin while its being stored.

Yeah, but then you run the risk of him changing his mind after a month or two and you wound up not selling the game losing two minths. What about him coming to take a look and leaving a $300, non refundable deposit with the game to be picked up with in __ months and paid in full? If the time passes with no balance paid, the deposit is yours and you sell the game.

I've been doing this for years for dozens of customers.......never once had a problem. If they do back out, (which I can only think of it happening one time) then I just refund there entire amount that they have paid up until that point without charging them any fee's.

John P. Dayhuff
Battle Creek, Mi.
269-979-3836

If the game stays at your house while he makes payments then why the hell shouldn't you do it?

Go get em' champ! You were just talking about getting new people into pinball in your other Reality Show thread. Here's your start...

Agree with Rich mostly,
See if you can get a good deposit, then a solid date for when he will have the remainder. Close up the machine so the condition doesn't change from deposit to completed payout. Create escape plan for if he starts balking near the due date so you can return the deposit and relist if needed.

But hopefully he'll come through, it's all a story until you've got some $$$ in hand!

Exactly why I suggest a y% in my post above. In financial terms, no reason to give someone a call option with 0 premium.

AWESOME!!!

Also, you should totally submit that video to these guys:
http://pinside.com/pinball/forum/topic/currently-casting-the-pinball-project

John seems like a nice guy! I have one variation to consider. Make it clear up front...if it falls through later for any reason, you will refund any money once you sell the game to someone else, but if you have to sell it for less, then part of his deposit will be kept to make up the difference in purchase price so you are "whole" with the original price agreed to. Good luck!

+1 to this.

A contract was the first thing I thought of when I read your question. I'd think that it would be especially necessary if you're dealing with someone you don't know personally. Most likely you won't need to rely on the contract, but I'd hate to be stuck without one if the deal goes south.

--Luke

I have found people with out the money today always have an issue tomorrow to stop the purchase - it took me 8 months to sell a game like this once, half the money in hand and I just need one more week on the other side, I say find a buyer if you can.

Contract or no sale IMHO. The world is not the way it used to be, when deals were struck over handshakes.

I did something similar with a broad that wanted to get her husband a pin.

I had her sign a no refund, must be paid entirely in 5 months or all deposits forfeited contract.

She was late a few times, but kept in touch and seemed genuinely sincere , so I let the deal continue.

Her husband is still a customer to this day. I've serviced his Funhouse and GORF machine a few times.

=

The only way I think you can lose on the deal is if the game seriously breaks (like CPU or transformer burning) or if the game is stolen/lost in fire.

If you can get $1350 for your CBW, take the deal. Just make sure everything is in writing, including something signed by both parties every time you receive a payment.

I had a nice CBW listed for sale for a while with no luck anywhere near that price.

I did this awhile back with someone new to the hobby looking to buy his first game. The only difference was my game was a little lower priced and the deal was half now and the other half within a month. He actually ended up getting the cash a little quicker than planned and picked it up earlier. I'd do it all over again, especially since I was getting another person into the hobby.

This reminds me of something my wife asked me years ago. I had finished restoring a pin for someone and up to that point, they had paid me half of what they owed me. My wife's comment was, "aren't you worried they may not pay you the rest?"

Well, let's see. I have half their money AND a completely restored pin in my possession. She's never asked me that again.

Cash paid before your pin leaves, do it up.

Well whats the deal, you listed it for 1350? Are you going to pull the ad and sell for more? I bet that one in the shop sits for quite a long time.

Do it, but get the terms in writing. Give him receipts when he makes each payment that you both sign and get copies of.

"The nicest guy on the phone" can become your worst nightmare if you don't cover your ass these days.

If that was local, I think I would buy it for the asking price. It looks nice and is a fun game.

I would wait for someone to pay as long as I didn't need the space or money right away.

It seems to work with one pinball manufacturer. I'd say do it. Karma always gets paid back.
You may get a new friend out of the deal, as others have said.

I applaud you for trying to get someone new into the hobby. The cost of a pin can pretty intimidating at times...especially for your first one. If you have talked to the buyer and have a good sense of judgement...go for it. Give him receipts, and though it may seem like he is inconveniencing you, I'm sure he would rather pay you all at once and take his prize home. We all remember the excitement of getting our first pin and you have the chance to help someone out; that has to feel pretty good.

The key phrase is "if he waited".

It only takes ONE person willing to pay that price. But based on my recent experience, there's nobody willing to pay even $1100 for a nice CBW. Might be the time of year...

I'd have to say no to this, because selling the game to someone else could take MONTHS in some cases. I just refund the entire amount that was paid up until that point and move on to find another buying. This way I dont have any commitments hanging out there with that person. Why make it way more complicated then it has to be?

John P. Dayhuff
Battle Creek, Mi.
269-979-3836

This is the biggest problem that may occur.

Great system, and again growing the hobby...would definitely help someone younger and with a lower paying job like myself so glad to see there are people out there willing to do this.

How could the condition change in that short of time? Sure a MPU might go back or something but then I feel its up to the seller to make it right. After all , it never left in the first place. Its all about building the trust for both parties for that person's next purchase.

John P. Dayhuff
Battle Creek, Mi.
269-979-3836

Here write on contract he has to agree to buy it no back outs after the first payment state that clearly. Then I would also right down for each payment amount date and have both sign it make two copies so its the same.
I wish someone would do this for me a pin layaway type deal as I never have the cash right away but could do payments. Eventually ill get my own machine I want TZ first though.

The only thing I could see as a potential issue is if something goes wrong with the game while it's still in your possession.

Have some sort of basic contract drawn up regarding the plans. I know it sounds like a dick thing to do, but it could protect either of you.

Kudos for going the extra mile (or ten) to help get someone new into the hobby!

I guess I don't see why people think of this as so complex. If I were in you position, I'd do it. Don't make it more complicated then it needs to be by drawing up contracts or whatever. I'd suggest taking some amount down and then the rest when he picks up. I've offered to do that multiple times (as a buyer, and I would as a seller if presented with a similar situation) and never once had an issue.

good things come to good people......I would do it and give him a deadline.

I would FOR SURE scribble up a basic contract. Too many oddballs out there. Even just some emails to serve as a verbal agreement, that is what I do for the vast majority of my clients that contract with me.

I wouldn't do it. Let him borrow the money from somebody else and pay them back.

I gave a guy on CL $300 to hold TZ for me over a weekend. He scribbled a simple contract on paper for me without me asking and was just an all around decent guy. I've always been a good judge of character, so I wasn't concerned. Sure enough, when I came to pay in full all was well and he even helped me load it and the sale price was darn good for this market. There are good people out there.

Send him a paypal invoice

He can pay you via a 0% credit card

Done

I have been on both sides of a transaction like this. I had a guy that many of you know (and love) ask to buy something and make payments. We drew up a contract stating when it would be paid in full and he beat the end date by 2 months and picked up his game. I also have paid two friends over time for games because they needed them moved quickly.

I would do it.

do it, do it all night long.

Jared, are you quoting FUN! prices on here? lol...