New Coin Deal

[S209]

Actually there were a couple coin deals that turned out really good and I emailed PFS asking if they'd consider raising my payout. To their credit, with absolutely no obligation on their end, they did.

So yeah this was a bit of a disaster deal, but I know they're doing their best and I wouldn't bad mouth PFS for anything. Though they did just issue my check and it was $19.80 short LOL... but besides that

They sent me 4 cents extra.. I agree that this actually makes me trust PFS more

[Elishagotts]

They sent me 4 cents extra.. I agree that this actually makes me trust PFS more

The company is obviously taking a bath on this deal and is still offering to pay back the principal AND upfront before it sells! I really don't understand the backlash, ya it sucks to not get the commissions, but I still got the spend and the knowledge that I wasn't an a-hole

[YossieW]

The company is obviously taking a bath on this deal and is still offering to pay back the principal AND upfront before it sells! I really don't understand the backlash, ya it sucks to not get the commissions, but I still got the spend and the knowledge that I wasn't an a-hole

I kind of both agree and disagree with this sentiment

I agree that at least they did not leave everyone high and dry

I disagree in two parts
a) the bait and switch of promising one thing upfront, then another thing a few days later, and then finally a third solution which was what they should have admitted right away (especially since one of their excuses was cash flow which they would have had to do regardless based on their original commitment)
b) the reason they are willing to lose even if it's a significant amount is that on so many previous deals they made so much money and they got commitments from people who honored their commitments even when other places were offering significantly higher commissions but they felt a sense of loyalty based on previous deals which clearly is not a two way street


 

[sddd]

The company is obviously taking a bath on this deal and is still offering to pay back the principal AND upfront before it sells! I really don't understand the backlash, ya it sucks to not get the commissions, but I still got the spend and the knowledge that I wasn't an a-hole

The backlash is simple. This wasn't a loan which understandably the lender can/should feel bad for the borrower if his investment went sour.
This was a pure sale - if the funds were contingent on the deal ending up well, then the sellers were taking on a massive risk. That's unacceptable, and harms PFS reputation.
If this is their business model, they now need to add a asterisk on any future deal - we do not have the cash to pay you out unless our investment pans out as planned. Otherwise you may be high and dry.

I do think that most of the savvier sellers realize that they do not necessarily have the funds outright to purchase the coins/tickets/whatever unless they get the money from the anticipated eventual buyer/s. And those sellers are implicitly willingly taking on the risk. But some do not.

[S209]

The company is obviously taking a bath on this deal and is still offering to pay back the principal AND upfront before it sells! I really don't understand the backlash, ya it sucks to not get the commissions, but I still got the spend and the knowledge that I wasn't an a-hole

Huh? I purchased something as their agent, whereby they assume all risk and reward. I would NEVER have purchased the tickets if I would not have had their guarantee, and I did not in turn try to flip them because we had a deal. I couldn’t care less how well they do as it’s not and never was my business. If they don’t pay for it, they’re stealing.

It’s great that they’re paying it back, but why in the world do you have in your head that this is a favor?! This is actually less than they promised. Some would still call it stealing.

(Like I’ve said, this makes me more likely to purchase for them in the future, but spare me the violin).

[CountValentine]

Not sure what is so hard to understand. They reneged on the offer. Why in the world would you trust them again?

[yg99]

Though they did just issue my check and it was $19.80 short LOL... but besides that

Send them an email.

I had the same thing and they paid.

[Elishagotts]

Huh? I purchased something as their agent, whereby they assume all risk and reward. I would NEVER have purchased the tickets if I would not have had their guarantee, and I did not in turn try to flip them because we had a deal. I couldn’t care less how well they do as it’s not and never was my business. If they don’t pay for it, they’re stealing.

It’s great that they’re paying it back, but why in the world do you have in your head that this is a favor?! This is actually less than they promised. Some would still call it stealing.

(Like I’ve said, this makes me more likely to purchase for them in the future, but spare me the violin).

Did you have a contract with them to buy your tickets? I get it if you don't want to trust them again, but they honestly owe you nothing, they didn't even take your tickets yet

[S209]

Did you have a contract with them to buy your tickets? I get it if you don't want to trust them again, but they honestly owe you nothing, they didn't even take your tickets yet

Yes of course, when I filled out the original form it was a completely binding unilateral contract, is this a joke? And yes they did take the tickets, what makes you think they didn’t? What they do with them is not my business.

What makes you think they owe me nothing?

[S209]

Did you have a contract with them to buy your tickets? I get it if you don't want to trust them again, but they honestly owe you nothing, they didn't even take your tickets yet

I’m going to spell it out for you.

If you commit to buy something from me at a certain price, and I purchase the item on your behalf and send you the item, you owe me the money and can’t back out.

This is for example how options work.

Disagree with any of that?

[shmoe joe]

Okay guys shifting gears. How much can i expect for Olivia Rodrigo codes?

[smartymiki007]

Did you have a contract with them to buy your tickets? I get it if you don't want to trust them again, but they honestly owe you nothing, they didn't even take your tickets yet

On their website, we committed to buying these tickets for PFS (they took down the agreement) - to be clear NOT everyone got paid in full - I bought 8 tickets, NOT realizing I bought tickets that were being resold on Ticketmaster - I thought I was buying from Ticketmaster directly. I followed all instructions & I'm losing over $300 on this deal.

Is anyone else in the same boat as me? Any ideas on how to go about getting our full spend back? Please PM me

[lindnuck]

On their website, we committed to buying these tickets for PFS (they took down the agreement) - to be clear NOT everyone got paid in full - I bought 8 tickets, NOT realizing I bought tickets that were being resold on Ticketmaster - I thought I was buying from Ticketmaster directly. I followed all instructions & I'm losing over $300 on this deal.

Is anyone else in the same boat as me? Any ideas on how to go about getting our full spend back? Please PM me

I mean this will all due respect. I'm not trying to upset you and I feel badly for the position you are in.

But you did _not_ follow "all instructions". They specifically said not to buy resale tickets. In fact, due to this requirement and to make sure I didn't screw up, I made sure my ticket filters excluded all resales, VIP tickets, etc. and only searched for standard TM tickets.

Again, this sucks for you and I do feel badly, but any buying group is going to deny you when you don't follow their instructions.

[sddd]

On their website, we committed to buying these tickets for PFS (they took down the agreement) - to be clear NOT everyone got paid in full - I bought 8 tickets, NOT realizing I bought tickets that were being resold on Ticketmaster - I thought I was buying from Ticketmaster directly. I followed all instructions & I'm losing over $300 on this deal.

Is anyone else in the same boat as me? Any ideas on how to go about getting our full spend back? Please PM me

What if everyone did that and they'd be out an extra million because of the resellers premium? Clearly they only wanted to purchase at face value.
I actually believed initially that i bought resllers tix and therefore didnt opt in to PFS. Turns out I bought face (just front row of section which were more expensive) at that point PFS closed registration so im out a lot more than 300$

[lindnuck]

What if everyone did that and they'd be out an extra million because of the resellers premium? Clearly they only wanted to purchase at face value.
I actually believed initially that i bought resllers tix and therefore didnt opt in to PFS. Turns out I bought face (just front row of section which were more expensive) at that point PFS closed registration so im out a lot more than 300$

Also, they are not out $300. They can still resell for something, just might not be able to fully recoup. That's a very inexpensive lesson.

[yuneeq]

On their website, we committed to buying these tickets for PFS (they took down the agreement) - to be clear NOT everyone got paid in full - I bought 8 tickets, NOT realizing I bought tickets that were being resold on Ticketmaster - I thought I was buying from Ticketmaster directly. I followed all instructions & I'm losing over $300 on this deal.

Is anyone else in the same boat as me? Any ideas on how to go about getting our full spend back? Please PM me

Sorry to hear about this mistake you made. I’m not involved at all but the entire business of buying tickets to resell is to buy tickets at face value directly from TM and resell at a premium.

[yuneeq]

Unrelated, but I can only imagine how much enjoyment 99% of the Americans would get from reading this thread.

[CountValentine]

Unrelated, but I can only imagine how much enjoyment 99% of the Americans would get from reading this thread.

I am trying to figure out who thought buying Travis Scott tickets was a good idea. What's next, Mets tickets? 

[sddd]

I am trying to figure out who thought buying Travis Scott tickets was a good idea. What's next, Mets tickets? 

Monday morning quarterbacking is easy
 Obviously the ticket ppl with years of experience and know how did, to the tune of millions invested.

[yelped]

Unrelated, but I can only imagine how much enjoyment 99% of the Americans would get from reading this thread.

One of the main reasons I stopped doing buying groups, although, I don't think I ever did any events or other scarce materials.