Selling to someone who agrees a higher price after getting advanced payment from someone previously. Bad or good?

[Kross]

Imagine that you own a business and you have agreed on a price with a customer and the customer pays an advance. Another customer comes for the same products, offers a higher price and is ready to pay in full.

Would you sell to the higher pricing customer and refund the lower pricing customer who had paid previously?

 

[King Belieal]

This is the dillemma that we face as business persons. It is very tempting. For me, I would call the first customer and discuss with him.

 

[SilverLance]

It's important to communicate openly with both customers about the situation and find a mutually agreeable solution that upholds the values of honesty and fairness.

 

[Min George]

It's important to communicate openly with both customers about the situation and find a mutually agreeable solution that upholds the values of honesty and fairness.

This is obviously the best thing to do on the circumstances. In one way, you would be trying to maximize your profit and your business by selling to the new person, but if you don't communicate and agree with the other customer, you would lose him or her for life as a customer.

 

[SilverLance]

This is obviously the best thing to do on the circumstances. In one way, you would be trying to maximize your profit and your business by selling to the new person, but if you don't communicate and agree with the other customer, you would lose him or her for life as a customer.

It’s all about balancing profit with integrity, and in the long run, fostering loyalty is far more valuable than a one-time gain.

 

[Trush Jodie]

I would rather call the first customer that gave me an advanced payment to inform him or her of another interest in the product. If he doesn't show positive action after 3 days, I would sell off and send his or her money to him or her.