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If I bought a picture for $5,000,000 and later find out it's worth $2, do I get my money back? No, didn't think so. Lottery tickets are not a parallel, given that it's luck of the draw that determines the value of the ticket. At the time of purchase, the ticket is worth exactly the price of the paper it's printed on. Here's a better, less extreme but real example. I just purchased a mandolin from a seller of vintage guitars. Paid $750, and were I to be patient I could probably get $1200 out of it. I have no plans to sell it, as I bought it to play, but let's supposed six months down the road I do sell it. Do I send a spiff back to Jimmy's Vintage Guitars? Nope. Jimmy admittedly doesn't know jack about mandolins. Jimmy didn't even get the model right, even though sixty seconds on Google would tell you the one easily-seen distinguishing feature that says it's a Gibson A-50 and not an A-40. I don't feel bad for Jimmy, because if he's going to take stuff to sell, he should know what he's selling because it's his business. Jimmy better have a big pile of "Vintage Instruments Value" books on the shelf, and know how to use the internet. I also assume that whether he obtained by trade or cash, he felt he got an acceptable deal when he took the instrument. So even though I got a bargain, Jimmy came out okay, too. Now, I'm not a total bastard. Were I to find, say, a 1923 Gibson F5 at a yard sale for $50, I'd give the person $500. Two reasons for that: such an instrument is worth several thousand dollars even in rough shape, and I don't expect a person selling Grandpa's mandolin at a yard sale to have any idea of its value. They're not in the vintage instrument business, they shouldn't be punished (too much) for not knowing what they're selling. They get 10x what they were asking, and I still get a steal, everyone goes home very happy. In the end, someone got lucky and it wasn't the person that sold the picture. I might very well kick back a little to the original seller, but I most certainly wouldn't feel obligated to do so. |