Islamic Business – How Will Traders Go To Paradise

IT IS SUNNAT TO GIVE THE BUYER THE OPTION TO TAKE THE ITEM BACK
Translation: It is reported from Hadhrat Jaabir  that Nabi-e-Kareem (صَلَّى اللَّهُ عَلَيْهِ وَسَلَّم ) gave a Bedouin the option to take back after he had sold.

BENEFIT:

Nabi-e-Kareem (صَلَّى اللَّهُ عَلَيْهِ وَسَلَّم ) bought a camel from a Bedouin and said to him, “If your heart desires that you take back the camel, you have the option to do so. I will gladly return it to you.” This is so that he does not regret having lost a good camel.
Once the discussion is concluded and the deal agreed upon, options come to an end, yet Nabi-e-Kareem (صَلَّى اللَّهُ عَلَيْهِ وَسَلَّم ) gave the option to take back what he had sold to the Bedouin on the basis of his good character. There is great reward in doing this. Similarly, if a person, after buying something, wishes to return the item for some reason, one should accept it. It is not good for one to say “I do not accept any returns.” There is great reward for this. One is making an allowance for the next individual and Allaah  is very pleased with one who makes allowances for His servants.

NABI-E-KAREEM (صَلَّى اللَّهُ عَلَيْهِ وَسَلَّم ) DID NOT APPROVE OF ESCALATING THE PRICE AND THEN REDUCE IT
Translation: I is reported from Hadhrat Qabeelah (رضي الله عنه), “I came to Nabi-e-Kareem (صَلَّى اللَّهُ عَلَيْهِ وَسَلَّم ) at the location of Marwah and said, ‘O Allaah Ta’ala’s Rasool (صَلَّى اللَّهُ عَلَيْهِ وَسَلَّم ), I am a woman who buys and sells. Whenever I want to buy something, I offer much less than I am actually prepared to pay then as the bargaining carries on, the price I was prepared to pay is reached at which stage I buy it. When I want to sell something, I quote a much higher price than I actually want to sell it at and after bargaining, the price reaches what I was prepared to sell it at.’ Nabi-e-Kareem (صَلَّى اللَّهُ عَلَيْهِ وَسَلَّم ) replied to this by saying, ‘O Qabeelah, do not do this. When you want to purchase some item then offer the price you are prepared to pay for it and when you want to sell an item then quote the price you want for it whether it sells or not.’”

BENEFIT:

This means, “When I want to buy goods from someone else, I offer a lower price than I am prepared to pay and keep on offering a little more until the price I am prepared to pay is reached. When I sell, I quote a higher price and keep on reducing the price till the customer thinks that I have discounted it and made allowance for him by which the customer becomes affected and buys the item thinking that I have done him a favour.”
In this case, no favour has been done and no discount has been given because the item has been sold for the price the seller actually had in mind. It therefore appears as if the seller has done a favour to the buyer and thereby encouraged him to purchase the item in this way by saying, “I have lowered the price of the item for you,” whereas, the price has not been lowered. It is a case of merely fooling the person into thinking a discount has been given.
These days, this is the way things are generally sold. People are fooled and even after such reduction in price, the item is still more expensive that it should be. The buyer does not know this or finds out later about being duped which causes him grief and pain.
O traders, as far as possible adopt a suitable profit and fix a single price for the items you sell. This will be much easier. Remember, it is permissible to offer some discount but not in the way described above whereby one unduly and falsely inflates the price and makes a show of offering a huge discount.