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kaiserphoenix · 30 June 2016, 07:30 PM

Just failed to complete a deal with "brettpaul" aka Brett. He is a polite genuine guy with good communication. We had agreed on a price and rough date of exchange. However due to FX fluctuation he wanted to increase prices by 5%. Needless to say we could not complete.

Andad · 30 June 2016, 08:11 PM

Did the original agreement/negotiations include rise and fall due to RoE.

brettpaul · 30 June 2016, 08:56 PM

Price fluctuations were not discussed in the agreement however the value of the AED versus the GBP would have forced me to sell at a loss or break even value. It was my fault for not specifying the peg currency as AED.

brettpaul · 30 June 2016, 09:02 PM

Price fluctuations were not discussed in the agreement however the value of the AED versus the GBP would have forced me to sell at a loss or break even value. It was my fault for not specifying the peg currency as AED.

Andad · 30 June 2016, 09:04 PM

If you were at fault should you consider making good on the agreement?

Would 5% really be worth a reputation?

brettpaul · 30 June 2016, 09:16 PM

The value of the GBP dropped by just over 10% and I offered to sell at approximately a 5% increase so I could break even and this was not accepted.

Andad · 30 June 2016, 09:22 PM

In the absence of an agreement re RoE why wouldn't the agreed price stand?

If the RoE had gone other way would you have lowered your selling price?

kaiserphoenix · 30 June 2016, 09:25 PM

Quote:

Originally Posted by directioneng

In the absence of an agreement re RoE why wouldn't the agreed price stand?

If the RoE had gone other way would you have lowered your selling price?

Exactly. Plus he had bought the watch months before. The "loss" he is referring to is not really a loss.

Andad · 30 June 2016, 09:34 PM

Can you two have further discussions regarding this transaction?

kaiserphoenix · 30 June 2016, 09:37 PM

Quote:

Originally Posted by directioneng

Can you two have further discussions regarding this transaction?

Unfortunately not as I did offer to pay him approx 2-3% more to be understanding. However he wants closer to 10% more which is way too much.

kaiserphoenix · 30 June 2016, 09:38 PM

Quote:

Originally Posted by kaiserphoenix

Just failed to complete a deal with "brettpaul" aka Brett. He is a polite genuine guy with good communication. We had agreed on a price and rough date of exchange. However due to FX fluctuation he wanted to increase prices by 5%. Needless to say we could not complete.

Sorry the price increase was 6.75% to be exact

brettpaul · 30 June 2016, 09:44 PM

Quote:

Originally Posted by kaiserphoenix

Sorry the price increase was 6.75% to be exact

Today it's 6.75%, yesterday it was 5%, and tomorrow will be x%. I will not sell at a loss and don't think it's unreasonable to do so.

While I appreciate Jordan's offer of a 2-3% increase this puts me I the red which I will not accept. I am also a bit disappointed with being taken online as I have communicated with Jordan since the referendum last Friday regarding the pricing and I will not be bullied into selling at a loss.

If the forum is based on the integrity and honour of the members, then surely it's not honorable to ask someone to lose money on a sale or purchase - I argue that the circumstances of this particular transaction are extenuating and would walk away without tears if the situation were reversed.

kaiserphoenix · 30 June 2016, 09:48 PM

Quote:

Originally Posted by brettpaul

Today it's 6.75%, yesterday it was 5%, and tomorrow will be x%. I will not sell at a loss and don't think it's unreasonable to do so.

No the price increase TO ME is always and will always be 6.75%. Its your profits that are fluctuating.

kaiserphoenix · 30 June 2016, 09:52 PM

Quote:

Originally Posted by brettpaul

Today it's 6.75%, yesterday it was 5%, and tomorrow will be x%. I will not sell at a loss and don't think it's unreasonable to do so.

While I appreciate Jordan's offer of a 2-3% increase this puts me I the red which I will not accept. I am also a bit disappointed with being taken online as I have communicated with Jordan since the referendum last Friday regarding the pricing and I will not be bullied into selling at a loss.

If the forum is based on the integrity and honour of the members, then surely it's not honorable to ask someone to lose money on a sale or purchase - I argue that the circumstances of this particular transaction are extenuating and would walk away without tears if the situation were reversed.

Noone is bullying you. I am just correctly recording the transactions of the deal to make sure that any future individuals can have some context, that is what this board is for. Whatever I have mentioned is the truth. I am not forcing you to complete the deal, you walked away and that is fine. You have your reasons. I am just making sure this is reported online in the correct spirit of this forum.

swatty · 30 June 2016, 09:53 PM

Quote:

Originally Posted by brettpaul

Today it's 6.75%, yesterday it was 5%, and tomorrow will be x%. I will not sell at a loss and don't think it's unreasonable to do so.

While I appreciate Jordan's offer of a 2-3% increase this puts me I the red which I will not accept. I am also a bit disappointed with being taken online as I have communicated with Jordan since the referendum last Friday regarding the pricing and I will not be bullied into selling at a loss.

If the forum is based on the integrity and honour of the members, then surely it's not honorable to ask someone to lose money on a sale or purchase - I argue that the circumstances of this particular transaction are extenuating and would walk away without tears if the situation were reversed.

Sometimes you will make a loss to keep a customer happy. Just don't make a habit of it or you won't be in business too long .

brettpaul · 30 June 2016, 10:16 PM

Quote:

Originally Posted by kaiserphoenix

Sorry the price increase was 6.75% to be exact

Quote:

Originally Posted by kaiserphoenix

Noone is bullying you. I am just correctly recording the transactions of the deal to make sure that any future individuals can have some context, that is what this board is for. Whatever I have mentioned is the truth. I am not forcing you to complete the deal, you walked away and that is fine. You have your reasons. I am just making sure this is reported online in the correct spirit of this forum.

Quote:

Originally Posted by swatty

Sometimes you will make a loss to keep a customer happy. Just don't make a habit of it or you won't be in business too long .

Thank you Jordan and Mod - I'll make sure I'm much more specific in the future.

Andad · 30 June 2016, 10:31 PM

Do you think your decision is fair to this buyer and future members that may want to transact with you?

Does your intention of being more specific in future and your acceptance of fault in this transaction not lead you to accepting the original price.

What was the price when you posted this?

Sold - thank you Jordan and TRF!!

brettpaul · 30 June 2016, 10:55 PM

Quote:

Originally Posted by directioneng

In the absence of an agreement re RoE why wouldn't the agreed price stand?

If the RoE had gone other way would you have lowered your selling price?

Quote:

Originally Posted by directioneng

Do you think your decision is fair to this buyer and future members that may want to transact with you?

Does your intention of being more specific in future and your acceptance of fault in this transaction not lead you to accepting the original price.

What was the price when you posted this?

Sold - thank you Jordan and TRF!!

I will reiterate that I will not sell at a loss - the price when I posted the above was days prior to the Brexit vote and currency drop in value (1£ = $1.5, not £1 = $1.3x). That being said I would consider this discussion concluded - thank you Jordan for keeping the spirit of the forum alive. I've been a member for 8 years and have had a few transactions without any issues, however If the Mods decide that I'm being unreasonable then please do whatever you feel is necessary. I buy/sell to fund my own hobby not as a business so forgive me if I'm not willing to eat the loss.

Andad · 30 June 2016, 10:59 PM

Well I will leave you to your own.

The mods may or may not comment?

MonBK · 30 June 2016, 11:05 PM

Could you post a link to the ad?

mannyv11 · 30 June 2016, 11:18 PM

Quote:

Originally Posted by directioneng

In the absence of an agreement re RoE why wouldn't the agreed price stand?

If the RoE had gone other way would you have lowered your selling price?

after reading this thread I think that is the biggest question I have as well. If it had gone the other way would you have lowered your price for the buyer or kept your price the same?

77T · 30 June 2016, 11:53 PM

Let me suggest that Brexit had several impacts on global financial markets which threw the FX markets into spins also.

The OP has many options to buy this watch elsewhere too. But now at a higher price due to being in Great Britain.

Calling out Brett for something that was out of his control is somewhat low to me...

Sent from my iPhone using Tapatalk

GhostWriter · 1 July 2016, 12:09 AM

No one would ever assume a watch is priced and pegged to the AED of all ccy's. To mention that after and not honour the deal is not right. We are all currency traders to a certain extent if we deal internationally here, and sometimes it doesn't go our way.

Gina Marie · 1 July 2016, 01:15 AM

no dog in this fight....the price is the price is the price. I hate being re-traded and don't deal with those that have in the past. I had a deal at 9k. agreed to and set up to do the next day. on the day of, he says, "i need 9100, my costs went up." My response, "best of luck with that. Have a nice day." If you want to hedge against currency moves then you can do so for each trade.....if the currency moved in the sellers favor i doubt a rebate would be offered. The cost to reputation far outweighs the financial gain....hence the reason for this post and the fallout. Cheers.

30 June 2016, 07:30 PM	#1
kaiserphoenix "TRF" Member Join Date: Jan 2011 Location: London/Tokyo Watch: FPJ CO BL Posts: 1,709	brettpaul - Increased price after agreement Just failed to complete a deal with "brettpaul" aka Brett. He is a polite genuine guy with good communication. We had agreed on a price and rough date of exchange. However due to FX fluctuation he wanted to increase prices by 5%. Needless to say we could not complete. __________________ F.P.Journe Chronometre Optimum Black Label, Patek 5811G-001, Patek 5968A-001, Patek 5167A-001 IG: tokyo_watch_guy

30 June 2016, 08:11 PM	#2
Andad 2024 SubLV41 Pledge Member Join Date: Nov 2006 Real Name: Eddie Location: Australia Watch: A few. Posts: 37,527	Did the original agreement/negotiations include rise and fall due to RoE. __________________ E

30 June 2016, 08:56 PM	#3
brettpaul "TRF" Member Join Date: Sep 2008 Real Name: Brett Location: Bahrain, Dubai Watch: Rolex and AP Posts: 5,538	Price fluctuations were not discussed in the agreement however the value of the AED versus the GBP would have forced me to sell at a loss or break even value. It was my fault for not specifying the peg currency as AED. __________________ Photostream on Instagram brett_in_bahrain

30 June 2016, 09:02 PM	#4
brettpaul "TRF" Member Join Date: Sep 2008 Real Name: Brett Location: Bahrain, Dubai Watch: Rolex and AP Posts: 5,538	Price fluctuations were not discussed in the agreement however the value of the AED versus the GBP would have forced me to sell at a loss or break even value. It was my fault for not specifying the peg currency as AED. __________________ Photostream on Instagram brett_in_bahrain

30 June 2016, 09:04 PM	#5
Andad 2024 SubLV41 Pledge Member Join Date: Nov 2006 Real Name: Eddie Location: Australia Watch: A few. Posts: 37,527	If you were at fault should you consider making good on the agreement? Would 5% really be worth a reputation? __________________ E

30 June 2016, 09:16 PM	#6
brettpaul "TRF" Member Join Date: Sep 2008 Real Name: Brett Location: Bahrain, Dubai Watch: Rolex and AP Posts: 5,538	The value of the GBP dropped by just over 10% and I offered to sell at approximately a 5% increase so I could break even and this was not accepted. __________________ Photostream on Instagram brett_in_bahrain

30 June 2016, 09:22 PM	#7
Andad 2024 SubLV41 Pledge Member Join Date: Nov 2006 Real Name: Eddie Location: Australia Watch: A few. Posts: 37,527	In the absence of an agreement re RoE why wouldn't the agreed price stand? If the RoE had gone other way would you have lowered your selling price? __________________ E

30 June 2016, 09:34 PM	#9
Andad 2024 SubLV41 Pledge Member Join Date: Nov 2006 Real Name: Eddie Location: Australia Watch: A few. Posts: 37,527	Can you two have further discussions regarding this transaction? __________________ E

30 June 2016, 10:31 PM	#17
Andad 2024 SubLV41 Pledge Member Join Date: Nov 2006 Real Name: Eddie Location: Australia Watch: A few. Posts: 37,527	Do you think your decision is fair to this buyer and future members that may want to transact with you? Does your intention of being more specific in future and your acceptance of fault in this transaction not lead you to accepting the original price. What was the price when you posted this? Sold - thank you Jordan and TRF!! __________________ E

30 June 2016, 10:59 PM	#19
Andad 2024 SubLV41 Pledge Member Join Date: Nov 2006 Real Name: Eddie Location: Australia Watch: A few. Posts: 37,527	Well I will leave you to your own. The mods may or may not comment? __________________ E

30 June 2016, 11:05 PM	#20
MonBK Banned Join Date: Nov 2010 Location: Kingstown Posts: 58,279	Could you post a link to the ad?

30 June 2016, 11:53 PM	#22
77T 2024 SubLV41 Pledge Member Join Date: Dec 2010 Real Name: PaulG Location: Georgia Posts: 42,014	Let me suggest that Brexit had several impacts on global financial markets which threw the FX markets into spins also. The OP has many options to buy this watch elsewhere too. But now at a higher price due to being in Great Britain. Calling out Brett for something that was out of his control is somewhat low to me... Sent from my iPhone using Tapatalk __________________ Does anyone really know what time it is?

1 July 2016, 12:09 AM	#23
GhostWriter "TRF" Member Join Date: Aug 2013 Real Name: Darrin Location: All Along The Watch: tower Posts: 197	No one would ever assume a watch is priced and pegged to the AED of all ccy's. To mention that after and not honour the deal is not right. We are all currency traders to a certain extent if we deal internationally here, and sometimes it doesn't go our way.

1 July 2016, 01:15 AM	#24
Gina Marie "TRF" Member Join Date: Jul 2015 Location: USA Baby! Posts: 1,068	no dog in this fight....the price is the price is the price. I hate being re-traded and don't deal with those that have in the past. I had a deal at 9k. agreed to and set up to do the next day. on the day of, he says, "i need 9100, my costs went up." My response, "best of luck with that. Have a nice day." If you want to hedge against currency moves then you can do so for each trade.....if the currency moved in the sellers favor i doubt a rebate would be offered. The cost to reputation far outweighs the financial gain....hence the reason for this post and the fallout. Cheers.

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