for now, the only thing we're growing on this farm is kids - not the goat variety

Month: September 2014

Bike deals

I have gotten a pretty good amount of experience when it comes to bicycles.

Having a previous good experience in buying a bike, fixing it, and selling it for a net profit of $40, I bought another bike about a week ago.

Around six or seven months ago, I expressed mild interest in a cheap bmx bike to it’s 13 year-old owner Ben (a resident of our condominium).

About three months ago, Ben contacted me and gave me an offer that I rejected.

And finally, about a week ago, he offered me $85.  I had considered it previously to be my purchasing price, but upon discovering some minor defects I ended up offering him $75.

Ben agreed.

I insisted upon one condition: that I get the signature of one of his parents. I had a bad experience with the first bike, where I sold it to a kid, and he came back insisting on a refund because a friend had told him he could get a better one at the same price (not true). As it turned out, Chilean law mandates that if a deal is made with any kid under 14 years old, they can later demand to undo the deal.

This meant that his parents must also agree for the deal to go through.

And so that evening, I went to Ben’s house. He invited me in, and I sat down on the couch. There was an uneasy air about him.

Likely, his parents had forbidden him from selling it for less than $85, and he was going to try to get me there.

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