How much of the $275 do I keep for myself?
By The Horse
@TheHorse (238325)
Walnut Creek, California
December 24, 2016 10:10am CST
A music friend of mine had some old speakers that he gave me when he clearned out his shed. He knows I like to fix old speakers up, so he passed them on to me a couple of months ago.
I brought another friend along to pick them up, and we agreed that he'd refoam the woofers, I'd fix up the wood, and we'd sell them for a decent profit.
They're JBL L99s, which are pretty darned good speakers. They're from the late 1960s, and popular among collectors. A minty pair can go for about $350 on eBay.
My friend refoamed the woofers, but instead of bringing them back to me to do the wood, he did a cursory job on the wood and sold them at a discount, for $275.
My question: How much do I ask for my part of the sale, and how much do I let him keep? He's wealthier than I am (he's a retired chemical engineer), but neither of us "need" the money. It's a hobby for both of us.
17 people like this
19 responses
@AbbyGreenhill (45490)
• United States
24 Dec 16
Why not donate the profits to a charity in both your names....that way you don't really have to ask him to return some to you which might make him not so happy.
4 people like this
@AbbyGreenhill (45490)
• United States
24 Dec 16
@TheHorse And the right time of year to donate!
2 people like this
@Jessicalynnt (50523)
• Centralia, Missouri
26 Dec 16
@AbbyGreenhill @TheHorse I like this idea as well.
2 people like this
@arthurchappell (44941)
• Preston, England
25 Dec 16
A 50/50 split and then don't let hm work with you on future projects if he is going to make such decisions without checking with you first
2 people like this
@arthurchappell (44941)
• Preston, England
25 Dec 16
@TheHorse sounds like you were right though - he needs to work with you rather than competing with you
@TheHorse (238325)
• Walnut Creek, California
25 Dec 16
I think it's possible that I intentionally kept things a bit ambiguous as a "test" of his friendship and sense of ethics. A bit manipulative on my part. He's (maybe) pulled this kind of thing before, and I wanted to see if I was wrong.
2 people like this
@allen0187 (59830)
• Philippines
25 Dec 16
Split it evenly, that's my suggestion. Too bad that your friend decided to sell the speakers on his own without consulting you.
Anyway, I'm sure you'll both come to an agreement.
1 person likes this
@allen0187 (59830)
• Philippines
31 Dec 16
@TheHorse really up to you how to handle this one. The bottle of win and scotch sounds fine to me.
1 person likes this
@allen0187 (59830)
• Philippines
31 Dec 16
@TheHorse not sharing the profits equally is a deal-breaker if you ask me. so how much did you get compared to what he got?
@TheHorse (238325)
• Walnut Creek, California
31 Dec 16
@allen0187 I brought the Scotch to a party and shared it with friends. I don't know if I'll mention to him that I was surprised we didn't share the profits equally.
1 person likes this
@infatuatedbby (94909)
• United States
24 Dec 16
Not very nice that he didn't stick to the original plain though.
The speakers were given from your friend who then you synced with this friend of yours to refoam only so you could do the wood work and sell for more!
What was the original plan spilt the profits in half and take the friend that gave you these speakers out for coffee??
1 person likes this
@infatuatedbby (94909)
• United States
24 Dec 16
@TheHorse You would think since he's your friend you wouldn't need to put anything in writing. Did he say anything about hey, I'll drop you your half of the money or something?
Honestly you should still receive the half because they were your speakers to begin with. And he knows you restore wood for fun & the speakers could have sold for more!
Have you two worked on restoring before or was this the first time?
1 person likes this
@TheHorse (238325)
• Walnut Creek, California
24 Dec 16
@infatuatedbby We've worked to gether before, and to be honest, he tends to try and get a "bargain," even with me. Maybe it's his old "business ethos" showing though.
2 people like this
@TheHorse (238325)
• Walnut Creek, California
26 Dec 16
@DWDavis the importance of the friendship has declined with his actions. I saw this act of kindness on my part (involving him in a project on my speakers) as something collaborative--a way to create a sense of connection over our hobby. He saw it as a way to make money for him. I think we see the world differently.
1 person likes this
@fishtiger58 (29819)
• Momence, Illinois
25 Dec 16
I would think at the very least half
1 person likes this
@TheHorse (238325)
• Walnut Creek, California
27 Dec 16
@fishtiger58 He did not.
1 person likes this
@fishtiger58 (29819)
• Momence, Illinois
27 Dec 16
@TheHorse I don't blame you, so he didn't pay you anything?
1 person likes this
@celticeagle (189915)
• Boise, Idaho
25 Dec 16
Why don't you donate the full amount to your favorite charity. What a great way to start the new year. And, then you don't have to figure out what amount.
1 person likes this
@celticeagle (189915)
• Boise, Idaho
25 Dec 16
@TheHorse .....That is certainly up to you. I have some places here that I know what they do and so I give them monetary donations when I can. Animals and food banks.
@vandana7 (102698)
• India
24 Dec 16
I hate money questions...they are so nerve wrecking ..difficult to be fair ..lol. Begin with decent profit..what would be the scrap value..without refoaming and wood work.
That would be shared equally...so scrap value 50:50
Then comes the refoaming bit..how much do such services cost...add that much to his share.
You did not do woodwork but he denied you and sold it without your consent so it should be deemed as you did it.
Obtain woodwork cost estimates for the job and add that to your share of scrap value.
Whatever remains, if at all, should also be shared 50:50.
Vanny's way of doing justice...not sure everybody would approve of it...but then...that is the way I am. lol
1 person likes this
@vandana7 (102698)
• India
25 Dec 16
@TheHorse .. The scrap actually belonged to you and you asked him to join in to share. So it kind of became implied agreement to share equally. As to woodwork cost, it became implied agreement on his part to part with relevant cost whether you did it or did not do it. Could you have found decent client? The final 50:50 is again share in marketing with implied agreement on his part to let you have 50 percent. I am glad I don't have to take a call, with friends it is rather tough.
@TheHorse (238325)
• Walnut Creek, California
24 Dec 16
It would be mine too, especially if this weren't just a hobby. But a part of me just doesn't care. If it weren't a friend, I'd make sure I was made whole. Because it's a friend, I'll Just be more cautious in "business" dealings with him in the future.
1 person likes this
@allknowing (153529)
• India
25 Dec 16
Some friend this who does his own thing. You were supposed to do the woodwork. Right? This is all so confusing. Since your music friend gifted it to you, it belongs to you. You can pay your 'friend' for his labour and keep the rest for you.
1 person likes this
@allknowing (153529)
• India
25 Dec 16
@TheHorse But this project was different. You were to do the woodwork
1 person likes this
@allknowing (153529)
• India
26 Dec 16
@TheHorse You better and be fair to yourself. More power to you
@andriaperry (118793)
• Anniston, Alabama
24 Dec 16
Hmm, tricky situation. What do you want? if your not sure about what to ask, say " hey where is my part?" and let the convo ride on that.
1 person likes this
@teamfreak16 (43611)
• Denver, Colorado
24 Dec 16
Interesting dilemma. I would have no idea. Half?
1 person likes this
@infatuatedbby (94909)
• United States
24 Dec 16
He can't keep the full $275! The speakers weren't originally his to begin with.. but that's what he might be thinking 
@crossbones27 (52905)
• Mojave, California
24 Dec 16
Might be best split it 50 50 and just not do business with him anymore unless some health issue is at play or misunderstanding maybe.
1 person likes this
@garymarsh6 (24025)
• United Kingdom
24 Dec 16
50:50 as originally agreed. I hope you get it!
1 person likes this
@JamesHxstatic (29410)
• Eugene, Oregon
24 Dec 16
That was pretty inconsiderate of him to do without at least checking with you. Tell him you want to donate you part of the sale to a food bank or other favorite charity. Since you made it possible for him to even know about the speakers, I think half the proceeds would be fair.
1 person likes this
@TheHorse (238325)
• Walnut Creek, California
24 Dec 16
I think half is fair as well. I was going to let him keep half even if I did my usual good job on the wood (takes more time than refoaming woofers). I'm trying to encourage him to get more active about this speaker restoration thing.
1 person likes this
