Yesterday I spent maybe $6.00 on old books from a guy selling them on the street. I soon learned that they're first edition books, including a John Steinbeck novel! I looked up their value on the internet, and it amounted to around US$900.
Assuming that the guy selling them was legit, are you going to share your good fortune with him?
You say you bought them "on the street". Is there a chance that they were stolen from someone who knew their value?
That isn't reasonable to suggest sharing the windfall. If you bought something for 25 cents at a garage sale, would you run back to them when you had it appraised and found out it was worth much much more? No. Most people would not. That's why garage sales are such a hobby for some and a money maker for others.
Stolen book? I doubt it. Most people don't understand what makes a book valuable. My ex and I always used to scope out second hand stores and garage sales for rare books. He's got quite the collection, some bought for 25 cents that are actually worth around a hundred bucks.
I will say though that $900 would probably be top price for a pristine copy. Not anything dog eared and tattered. When I read a rare book, I'm not even allowed to open it wide enough to crease the spine.
They were his all right, and he was aware of their value, but he has gone beyond his tolerance limit for book collecting and dealing. He says he just wants to unload them and free space in his apartment. It may sound weird, but I can understand that. A similar thing happened to me some years back when I was dealing antiques (auctions, the whole deal).
Funny thing about burglars. They go straight for the DVD player or some such gadget and won't notice the faded rare-edition book on the shelf or the plain Tang on the wall.[/DIV]
That certainly is a nice surprise Adam.
I agree with Some Chick about not sharing profits with the person you brought it from. Jay Leno purchased a motorcycle from this one guy and then found out that it was worth a lot of money. (I hope that I got the story corect). Did he share it with the previous owner? NOPE. Once you sold something, you sold something. It is the person's own fault that they are not aware of the actual selling value. That is why if I was selling something that I think may be of value, I would investigate.
Garage sales are great because people just get rid of things for very cheap and if someone really knew how to appraise items, they would make a ton of money. It is definitely a great hobby. I have brought furniture that would have sold in stores for more than what I paid.
P.S. Does anyone know if Wayne Gretzky's hollogram McDonald's trading card is worth anything?
Nope. Worthless. Send it over to me and I'll double check...
Really? I was told that it may be worth $50 and then someone else tells me that it's not worth anything because McDonald's came out with a ton of these playing cards.
;)
I keeed I keeed.
I have no idea. But on the off chance that it is totally worthless, you should just mail it to me and ... You know... Just get rid of useless junk... I'll be sure to let you know what I find out... :D
Some Chick wrote:
That isn't reasonable to suggest sharing the windfall.
I'd have to agree. If you buy a house and turn around and sell it for double what you paid for it the next day, you're under no legal, moral, or ethical obligation to share it with the previous owner. They say "caveat emptor" (let the buyer beware), but that also applies to sellers in my opinion.
Stolen book? I doubt it. Most people don't understand what makes a book valuable.
For me, unless I had a reasonable suspicion that the book was stolen I wouldn't see any reason not to buy it and resell it. I collect old typewriters (only the really nice, really old ones) and sometimes I'll see one at a yard sale for $2.00 or something like that. A "take-it-away-please" price, if you will. I know it's worth more than that, but I don't feel obligated to tell the owner that I think it's worth a lot more than what they're asking.
That's just me, though.