"I'll Give You 25%"

[ToddsPoint]

I stopped by and seen an old friend at his antique shop. When I mentioned metal detecting his eyes lit up. He pointed to an old house next to his shop. He bought it to use as storage. He said an old lady lived there who never used banks and stashed money in walls and buried it in the yard. I thought yeah, right. I've heard stories like that before. Looking at the house, she looked dirt poor to me. Anyway, he said to come and detect it and if I found buried money I could keep 25%. What? Only 25% and not 50/50? I almost felt insulted. Then I thought maybe I'm too greedy. After he said "25%", I didn't say yes or no. Hey, this kind of stuff could end a 45 yr. friendship! So, would you do it for 25% of any buried money?

What about any loose coins I find? I thought Charlie in NY had a good idea. Offer him any personal items and jewelry and keep any coins. Gary

 

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[Charlie P. (NY)]

I'd take the 25%.

He bought the house so he already owns everything in it. Paying taxes, utilities and insuring it, too. Investment is all his.

You're getting 25% of whatever at no investment but your time.

So, tell him you'll charge $10/hr to hunt and then 25%/75% in the finds. That way you get something for your time if there is nothing to be found. ;-)

 

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[dhog]

He owns a shop so he's a business man and is use to bargaining throw out a different number and terms and see what happens

 

[RichieRich]

Friendship = I'll help you out for nothing = "Hey, let's go play in your yard!"
Business = I get paid for my skills, knowledge, experience, time, and equipment = The clock ticks at an hourly rate, day rates available.
Friendship + Business = Run away, run away!

Long business relationships can lead to friendships - many of my friends are also business associates and partners. But it doesn't seem to work in the other direction, long friendship to a business arrangement. Old friends are hard to come by, so I'd opt out of endangering it over a horde, cache, or 76 cents and a rusty door hinge.

Well Said

 

[sprailroad]

25% of something maybe? is better than 100% of a for certain nothing. For having a opportunity to do something I love doing at a site like that? with the slim chance of finding a hidden "cache" for a 25% share? You bet I would. How often does something like that come along our way. Even more so when after all it's a hobby, not a vocation.

 

[Jacza]

25% is better than nothing, but with it you are also selling off your dignity. In Bavaria a finder must give 50% to the owner of the property, it's called "Hadrianische Teilung" (Hadrian's sharing).

 

[against the wind]

Well my friend,, here is one of my low end machines and a trowel. Go find 100% of the hidden goodies.
Don't break my machine and make sure I get it back clean

 

[trdking]

25% is A OK with me. Heck people are paying for the opportunity to dig old dirt.
Who cares Maybe 25% is worth thousands Then who would be complaining?

 

[b3y0nd3r]

Tell him you usually would do it for 50%, but because you are friends you will do it for 35%. To be honest, accept any deal you can as 25% of something is better than 100% slice of nothing.

He did wrong you though. It should be 50/50. I wouldn't hold a grudge, just sever that friendship by not being available for non-money making activities with him.

VERY IMPORTANT: Before you start, sit down with him and make-up a contract and get it notarized. Tell him it's to protect both of you from outside interference(like local laws, or government regulations and taxes). But the real reason is so he doesn't screw you over. If you need help look online. Protect yourself. When it comes to money, sometimes family and friends will make poor decision.

 

[diggummup]

I'm telling you what I would have done versus the man in the antique shop, if it was my property and he was my friend. I would have offered him 50-50.

 

[Escape]

Tell him 50 / 50 because were friends. When do you start tearing the walls and floor boards out of the house?

 

[MDKamper]

50/50 with signed contract