selling on ebay

[Hydra3208]

I currently own a NBA basketall signed by an entire nba team. It was purchased about 5 years ago by a relative whom i have little or no relationship with. He voluntarily without me even asking bought me a christmas present which was this basketball. I dont know how much he spent, most likely 3 grand (he is rich). Now today im unemployed and I was thinking if it would be unethical for me to sell it for hundreds of dollars on ebay without consulting him first. I need the money for something and I honestly dont value the gift as much as I would value what i could get in pay from this item. I already looked and it would be maybe 3 to 5 hundred dollars sold on ebay. I have the certificate of authenticity. Many other similar items are currently listed on ebay. What is your opinion? If its mine its mine or am i backstabbing. This relative has really no relationship with me and is extremely rich (a millionaire). THANKS He and his wife would be mad if and when they found out, I am assuming! Should I consult him or just tell myself he doesnt care about the money anyway because he is rich.

[disneysteve]

As far as I'm concerned, once a gift is given, it becomes the sole property of the recipient to do with as they please. The giver no longer has the right to control what happens to the item or to get upset if the recipient decides to regift it, sell it, pawn it or trash it.

If you'd rather have the money than the item, sell it.

[bjl584]

I currently own a NBA basketall signed by an entire nba team. It was purchased about 5 years ago by a relative whom i have little or no relationship with. He voluntarily without me even asking bought me a christmas present which was this basketball. I dont know how much he spent, most likely 3 grand (he is rich). Now today im unemployed and I was thinking if it would be unethical for me to sell it for hundreds of dollars on ebay without consulting him first. I need the money for something and I honestly dont value the gift as much as I would value what i could get in pay from this item. I already looked and it would be maybe 3 to 5 hundred dollars sold on ebay. I have the certificate of authenticity. Many other similar items are currently listed on ebay. What is your opinion? If its mine its mine or am i backstabbing. This relative has really no relationship with me and is extremely rich (a millionaire). THANKS He and his wife would be mad if and when they found out, I am assuming! Should I consult him or just tell myself he doesnt care about the money anyway because he is rich.

You may do better if you go into a few sports memorabilia shops and have it appraised. They may offer more for it than you could get on Ebay.

[Nightfly]

Yeah, what you do with it is your business. Besides, how would he find out anyway? You have no obligation to let him or anyone else know. So, keep any transaction to yourself. You're doing nothing unethical.

I agree with the previous poster: have it appraised by a sports memorabilia shop or expert. Actually, you could contact a sports memorabilia "power seller" on eBay, then describe the basketball and ask them what it might be worth. Also, do a search for the team's fan club sites or pages, then put out a question on the team's forum to see if any die-hard fans would be interested and what they would pay. You might get more that way, then let them know that you'll offer it on eBay for escrow purposes to protect yourself.

[creditcardfree]

I also agree that the item is yours to do what you wish. It was a gift. No need to bring up the issue unless directly asked.

[jpg7n16]

I dont know how much he spent, most likely 3 grand (he is rich).

today im unemployed

if it would be unethical for me to sell it for hundreds of dollars on ebay without consulting him first.

Ummm.... well. If he would spend $3k on it, why would you only sell it for a few hundred? obv people out there will pay $3k.


If I were in your shoes, I would call him. That's just who I am.

If I were in his shoes, and I heard you sold it because you were unemployed and in desperate need of cash, I'd completely understand.


......but I'd be upset if you only got a few hundred.

[disneysteve]

Ummm.... well. If he would spend $3k on it, why would you only sell it for a few hundred?

I think OP was just guessing here. I don't think he actually knows what the item cost.

That said, though I know little about sports memorabilia, I do know that the collectibles market in general has been quite depressed in recent years. This is partly due to the economy and partly due to companies flooding the market with what I call "manufactured collectibles." Also, thanks to ebay and the internet in general, almost nothing is rare or scarce anymore. Years ago, when there was a limited edition of 100 pieces, you had to search far and wide to find one. Now, you just go on ebay and chances are you'll find 10-20 of them listed at any given time.

So even if this ball did sell for a lot more 5 years ago, it may be worth only a fraction as much today.

[jpg7n16]

Hmm true. Good points DS. Then he probably didn't really pay that much for it, and it's not as big of a deal.

People pay ridiculous amounts for all sorts of things, thought $3k for a signed basketball would fit that description

[WealthWrestlers]

If you desperately need the money, I would go ahead and sell it. But, before you do, it would be worth your while to get the basketball appraised. You don't want to make the mistake of selling it for hundreds if it's actually worth thousands...

[Gary Barzel]

Take into account that when he bought you this gift he didn't even ask you if it's something you would want or care to have. He bought you a gift for you to do with it as you please. I wouldn't worry about it too much, as it's not like you're throwing it away, you want to sell it to help support yourself. I think you're entitled to do that much for yourself.