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Sales Fatawa / Selling at a fair price.

Selling at a fair price.

publish date : 2016-03-22 | Views : 1659
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am into buying and selling of cars. If I buy a certain car for example, and I want sell it, should I start by offering it at the price I bought it for or should I request any amount I want for it?

البيع يكون بسعر المثل

Praise be to Allah, and may Allah’s peace and blessings be upon the Messenger of Allah, his family and his companions.

To proceed:

In response to your question, I say:

A person can sell his commodities at any price he wants because there is no limit on profit with respect to business operations. However if there is a prevalent price in the country – known as market price by jurists – it is not allowed to sell for a price in excess of the market price in such a way that it amounts to prejudice or injustice. Let’s say for example, this cup is sold at a prevailing price of ten riyals in all shops, and you are sold it for 11riyals in another shop. In this case there is nothing wrong with this because people can overlook one riyal. But if it is sold to you for twenty Riyals then you can tell the seller that has deceived you, how can he sell you at twenty riyals when it sold for ten in the market? The profit in this case is not permissible unless the seller clarifies that it is sold for so much in the market.
There is also an influencing factor on the issue of profit margin which is place of sale. Goods sold from a pavement cannot cost the same as goods sold from a store because the one selling from a pavement profits without paying any expense for rentals and traditionally he puts a little margin between selling price and cost price, contrary to the one who sells from an up market store. 

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