it is and cheating

for example there's a microphone thats is 100 dollars in market but Nigeria sellers tag d price 80k to 100k now ask ur self this knowing fully well d price, is that fair?

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

I would have said it is not a sin all things being equal....
That is, make your gain reasonably even @100% gain like the example OP gave us..

What's sin is extortion I.e when you have situation where you have people under duress and you skyrocket the price e.g transporters in Lagos, once they see lots of passengers and its getting dark, then the fare just keeps rising..

Another is Christmas or new year and anytime of holidays/ celebration's when the Western world will give discounts and reward their customers with gifts, our business people especially traders inflate their prices outrageously... That's sinful!

Peace

B

It Becomes a Sin If you Are Greedy and You Don't Like Sharing

I know the profit margin in drugs are always very high. That's, the profit is even x2 greater than the cost price. Do you now mean those selling drugs (pharmacy) are commiting sin? How about the cost of going to school to qualify as a pharmacist?

Some people will reap a 100 fold, some 50 fold, etc. The person with 100 is not a sinner. He has good business acumen, better negotiation skills. In fact there is a parable in which the servant who doubled his master's money was rewarded with more.
However, it is sinful to use false scales, but not sinful to use negotiations.

First, How much profit is too much and by what standards?
Second, What are the risks in the business?
Third, What other cost might the trader be bearing? Examples: interest on loan, wages, rent, CAPEX etc
Fourth, Have you considered inflation and how much time it may take for the trader to sell out and restock?

At the end of the day, you are not a sinner but because of who you are. All our righteous acts are like filthy rags before God. Faith in Jesus raises us above condemnation so at that level, you just strive to keep your conscience guilt free. John 3:18

So far the customer feel satisfied .Its a win win

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

Ok, let’s add
Additional Info:
Deducts Rents
Deduct Refunds
Deduct Returns
Deduct Salary
Deduct Tax
Pay yourself salary, very important.
Deducts bills such as electricity bill, lga bills and what not
I’m sure there are a host of other deductibles, whatever is left, if it is in excess of 100% then we may say you should seek your spiritual counsel for advice . Shalom!

is your final commodity price resonable for the average person to afford ? Is your pricing predating? Are you selling according to imposed market price (eg oil �) ? If your answer to this questions are in the affirmative, then you're doing the right thing.

Its about being on the good side of your conscience. We are all humans, but not everyone is humane.

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Wetin concern God with money weu you make? God didn't create money humans do, so dealing with money you have to be logical

As far as you don't put the customer under duress, and the customer doesn't complain, I don't see a reason why it should be a sin. If the price is too high, you walk away, it's a choice.
I wonder what you'll say about domain investors buying for as low as $10 and selling for $10,000, sometimes even millions of dollars.

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

Too much of everything is greediness and ungodly bro.

You bought an item for #100 and you know the highest you should sell is 150 buh you place #300 on it, that's not smartness that's greediness!


And let's remember, it's God that rewards labour not our business skills or smartness.

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

In Islam, any profit greater that 100% is a sin.

That's shit. What if i start a company with 1000 naira and my laptop and after a year it grows exponentially and i sell it $100 million dollars. How do u consider that a sin?

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

i remember the day me and my friends argued this same topic till we were got to the road.... There is no such thing as too much profit.... Its just profit and business when you start to lie abt the good like the cost price, quality etc then its a problem.... If a buyer is willingly paying the amount without further questions then u did not rip them off.... They paid what they deemed fit

I like this topic. Really thought provoking.

it is the same scam as what hush puppi did

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

The sin will be upon the Price regulatory and Monitoring team who have failed to perform their functions.

Go to the market... Inflation everywhere without increase in salaries or income.

A paint rubber of Garri cost 350 in 2017 ,today in 2020 just 3yrs it's now 800.

Or is it rice that was 17k in 2017 now 25 to 35 thousand.

The heart of man is desperately wicked, who can know it.

We are all suffering this. Worst thing is prices never ever decline only up up up

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

Me i like that kinda biz oo .
Abeg which kinda biz be that

thariodamaniac:

i remember the day me and my friends argued this same topic till we were got to the road.... There is no such thing as too much profit.... Its just profit and business when you start to lie abt the good like the cost price, quality etc then its a problem.... If a buyer is willingly paying the amount without further questions then u did not rip them off.... They paid what they deemed fit

Isn't a 10 to 20% total cost of an item as profit, isn't it enough?

Must it be 100% or 50% profit.
Maybe biblically it isn't a sin but look around Nigeria brother, how many people can afford these prices of goods and services everywhere.

Truth is Nigerians are wicked beings.
Go overseas food, common man items are the cheapest.
The expensive things are called luxury items. We all know who those items are meant for.

Which kain mumu question be this?

I have another matter to settle jare

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

GodPunishBiafra:


In Islam, any profit greater that 100% is a sin.

3xactly what I just quoted to someone.
What's wrong with a 10, 20% at most 40% profit.

The word of God is quite clear on this, and not subject to human reasoning (Which has become the anomaly these days):

"Dishonest money dwindles away, but whoever gathers money little by little makes it grow..." (Proverbs 13:11)

A believer should know better than overcharge on goods and services especially at the economic peril of his clients or customers. This is even a worse spiritual infraction where you sell at a mark-up way higher than what your counterparts sell within the same business!!!

This is what I expect Christians to abide by. A believer who lacks contentment and is filled with avarice will end up in ruin!!!

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

The fact that you don't have any knowledge about business that makes you ask this question

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

did u add shop money, lga task force money, fg tax, environmental task force fees, damaged goods loss?

otomatic:
Some people will reap a 100 fold, some 50 fold, etc. The person with 100 is not a sinner. He has good business acumen, better negotiation skills. In fact there is a parable in which the servant who doubled his master's money was rewarded with more.
However, it is sinful to use false scales, but not sinful to use negotiations.

thanks a lot, learnt something

BurnStoner:
Ok, let’s add
Additional Info:
Deducts Rents
Deduct Refunds
Deduct Returns
Deduct Salary
Deduct Tax
Pay yourself salary, very important.
Deducts bills such as electricity bill, lga bills and what not
I’m sure there are a host of other deductibles, whatever is left, if it is in excess of 100% then we may say you should seek your spiritual counsel for advice . Shalom!

good one

sonofthunder:



Everything done in excess is sin. I wonder if we truly understand the meaning of sin but I have no desire to go into that. From multiple sexual partners, to eating to love for money anything done in excess (and to the conscious or unconscious detriment of those around us) is totally wrong. We do not often see the effect now until it gets back to destroy us. This is the basic reason we have failed societies in every corner of the world. But in line with your question, this doesn't mean you should labour for loss. You must determine how to measure a fair price by doing some simple things like determining how often do you sell your product, how long the product will last for a single use, is it a year or just a month amongst other factors. Most people don't have the patience to carry out this basic activity especially when operating a monopoly. They know their customers have limited choices.

"Therefore to him that knoweth to do good, and doeth it not, to him it is sin." James 4:17

People who unnecessarily inflate prices of goods and services do so out of greed!!! They know it is wrong!!!

which business are you talking about first?

...for as long as you abide by the laws of the land, I don't see anything wrong with profiting greatly from the works of your hand.

Profiting is a product of hardwork. Your profit might even be God's way of telling you to scale your business. As you expand, you have the opportunity to positively impact your environment (business, community, family, and church or mosque) even in a better way.