Sheik
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Well not only did i ask you guys, i asked my family, and some other older folks as well who i highly respect.
Pretty much everyone has told me 350-400 is more than fair.
I told him i think 500 is too much. He looked at me like i was crazy and when i explained why he just rolled his eyes and told me he didn't want to talk about it.
If it were me, I'd tell him if $550 is a fair price, just to buy it from you. If he doesn't wanna take it to his parents house, tell him you'll charge him storage fees for holding onto his half until he can find a place to store it.
It's easy for any of us to say because it's not our furniture or our friend. I wouldn't pay that much for it though, jmo.