What's the norm/etiquette when faced with a situation like this?

[A-Bone]

Originally Posted by vortexxxx

Unless there was a deposit, I would sell it to the first person that shows up with cash. I always leave a small deposit when I ask people if I can pay a few days later. Most guitar stores do that as well. There are many flakes out there so the deposit is a must if I were to sell a guitar on CL (which I don't do).

For example Wildwood had a one-of a kind guitar that I wanted, so I left a small deposit with them to show that I wasn't going to be a flake. The deposit is a good faith measure.

If you make receipt of a deposit or payment a condition of the contract, that is one thing. I think it is important to realize that a good faith deposit is unnecessary to establish a contract. The promise to pay is adequate consideration at common law, if the sale is otherwise agreed to (meaning offer is accepted).

In most retail contexts, they will not agree to a sale unless and until the buyer pays, so there is no contract till money changes hands. It often makes sense to put down a deposit in a retail context to secure the goods in the interim while the rest of the money is being gathered, especially if it is a one-of-a-kind item.

[boo radley]

Originally Posted by vortexxxx

Unless there was a deposit, I would sell it to the first person that shows up with cash.

The issue isn't what you *should* do, or who conducts internet business in a more appropriate manner, it's: what would you do if you agreed on terms of a sale with the buyer and, before exchanging goods/cash, a better offer comes along?

Would you honor your original commitment? The whole time-to-pay issue is irrelevant; it's just another component of the deal that's understood (by all but a few, who warp this into some weird ambiguity) to be acceptable or the seller would have said, "No, you need to pay me now."

Here's a better example:

You have a guitar for sale on the emporium for $1000. I offer $800 and you reluctantly accept. I then say I need to move some money into my PayPal account so I will have to pay you in three days.

Unless you explicitly say -- "no, that's not acceptable," (and you have a perfect right to) I think it would be dishonorable to sell it to someone else, for $900, even if they're the first to "show up with cash."

[Teleplayer]

You don't really need feedback from here. Let your own moral compass guide you, and do what you think is right.