dilema,buy this rack or not?

[antoniocinisi]

almost 3 years ago an IGA(GROCERY store for those of you not from the midwest)closed down.they auctioned off everything in there includeing the toy rack in the front of the store.3 years down the road I come across this toy rack that has been offered to me for sale for cheap.

would it be bad karma to buy this rack knowing that with a little effort I could find the original owner? after 3 years should I worry about it?it has probably been writen off and forgotten by now.the auctioneer probably didnt know or care who owned it,neither did the guy that has it now should I do the same?turning in the person isn`t an option since technicly it was the auctioneers fault and years have gone by.what would you guys do?

[sherlock]

In my business or personal life I never do anything that doesn't "feel right".

Personal, financial, or emotional gain be damned...there's no gain worth going against your own concience.

The very fact that you have posted this thread indicates to me that buying the rack doesn't "feel right" to you.

Therefore, anything I, or any other forum member, can post here would either be an attempt to sway you from your "gut feeling" or to justify your hesitance in buying the rack.

We shouldn't try to do either. Trust in your gut.

There may be nothing wrong with the purchase for many of us. But, what's in our thoughts should not matter.

Legal or financial arguments should take a backseat, too.

Your peace-of-mind should should be the main thing to consider.

[Mercury]

The correct way to do it is to buy it (assuming it is really cheap) and then contact the owner, if possible and offer it to them for whatever you paid for it. If they are a corporate vending company, it has already been written off as a loss. If it is a "little guy" then probably not.

Merc

almost 3 years ago an IGA(GROCERY store for those of you not from the midwest)closed down.they auctioned off everything in there includeing the toy rack in the front of the store.3 years down the road I come across this toy rack that has been offered to me for sale for cheap.

would it be bad karma to buy this rack knowing that with a little effort I could find the original owner? after 3 years should I worry about it?it has probably been writen off and forgotten by now.the auctioneer probably didnt know or care who owned it,neither did the guy that has it now should I do the same?turning in the person isn`t an option since technicly it was the auctioneers fault and years have gone by.what would you guys do?

[antoniocinisi]

intresting thoughts so far guys.my gut tells me don`t do it,my wallet is screaming go for it.

I dont know how good an idea it will be to contact the guy and tell him I have his machines, he might come after me.since I would be the 3rd person to handle this machine it hardly seems fair that I should risk that.he could very well say you knew it was my machine and you bought it anyways I want it now,instead of saying ohh you have my machines with product still in it for 75 bucks sure when can I come get it?

I most likely wont buy it but I am not sure.it will be more usefull to me rather then getting sold to another vendor or the junkyard.

[havending]

If your worring about this then you have much more time on your hands than i do.  If its 3+ years old why would you want it?

[Jax Snacks]

Well to keep a clear conscience, why not just contact the original owner right now before you buy it?  If he decides he doesn't want it, then no big deal and go buy it.  I know that I would not be thrilled about buying back my own equipment, but since there is no real title to this stuff and the legal expenses are not worth it, possession rules usually trump everything else.  The current owner would have to be sued in order for the original owner to get his stuff back anyhow. 

Jax

[Quarter Master]

Antonio,

                Since it was auctioned off, I'm thinking the auctioneer knows to have clear title (ownership) of everything he sells. If your interested, contact the seller to see if he will give you a receipt for the purchase.That might help keep you in the clear.

[JPVendCo.]

if its mega cheap, go for it. if the original owner really wanted it he would have got it back by now.

[Paraflier]

I agree.

This is a business. Ya snooze.... Ya lose.

Don't get me wrong... I wouldn't pull an old lady's walker out from under her to get a good deal... (I think...) But 3 years it has been waiting? Really? 3 years? If I had an asset that I left for three years and then couldn't get back, I would be out of my mind to think I would get any sympathy for losing it.

Snag it. Use it. Make $$ with it. If it helps you sleep at night, you can start a "Forgotten Rack Fund" with the money it makes you.

Always be aware of deals that fall into your lap!

[The Mage]

Maybe we could feel bad for the original owner, but it was his job to take action to get his property back.  The people who sold it originally didn't have the right to, and he could have acted then.  Even after that he could have still retrieved it from the person it was sold to.  (Doesn't matter if it is sold or not, it's his property.)

The only thing I would do is to check the statute of limitations for your state.  There is only a limited time a person can come back for their property.  If the time has not passed, you have the legal right to buy the rack.  If it hasn't, pass on the deal.  I consider this both legal and moral.

[dperry]

I most likely wont buy it but I am not sure.it will be more usefull to me rather then getting sold to another vendor or the junkyard.

It sounds to me like you already know who the original owner is.  If you are having a crisis of faith on this, why don't you just contact him and let him know the situation?

[antoniocinisi]

there was a phone number intergrated in the price decals(good idea).I am going to get the number and call it and see who answers.I think it is a big vendor if he had price/phone number decals  costum made like that.I dont know who the guy is but I know for sure that it is 1 of possibly 2 vendors in my area.either there are 2 medium sized vendors or 1 huge one in my area.

the rack was most likely written off by now,it`s been 2 years minimum but most likely 3,the i.r.s. siezed the grocery store and they auctioned everything off.this vendors rack just hapened to be in the line of fire.

I could find the owner but should I worry about that?the guy that has it now isn`t.If the vendor did look for the rack he could have found out who the auctioneer is and possibly who had his property.if not the cops would have helped if he wanted it that bad.

my only issue is that I can find the rightful owner but after that what?uh hi sir I have your rack that I could buy for 75 bucks do you want it back for that much,otherwise I will keep your property.

this rack will either go to a competitor or to the junkyard so it might as well be me that gains rather then someone else.while I agree with sherlock that my peace of mind is most important,I don`t think I will lose much sleep over this.I will only lose if I dont take advantage of this deal.

[JPVendCo.]

i wouldnt worry about it dude. someones gonna buy it, you should get a good deal on it. get a bill of sale. if anything happens you will at least get your money back.....