I just need some clarification on riba because I recently read up on it and I need to find out if I engaged in it or not. Earlier this year, I sold a collectible item I had for a while. It gained value over the years and it ended up being sold on ebay for close to triple the price I got it for. Is this riba? If so, I've clearly committed one of the major sins (not to try and confess or anything).
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Ok thanks. I always understood riba as something to do with interest but I read one of the links on Islamqa and was a little confused. I read it as something about selling a product for way more than what it was worth being classified as riba. I think I may have misunderstood it.
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Riba is interest not cost/bidding. What you're doing is setting a price/bidding which is halal. What would be haram is if a person says they can't pay you in full at the moment, and you say ok I'll take half now but I will charge you 2% every month until you pay the rest or something along those lines.
Also what you're talking about in regards to the value of the item has more to do with sincerity. So if you walk away feeling like you've cheated someone out of their money then that's an insincere transaction, but if you believe that it was fair considering the item's market value or what you believe it is worth then you should be fine inshallah.
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for the clarification
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