The buyer needs a hundred eyes, the seller needs only one. In any transaction, the buyer bears most of the risk of being deceived and must inspect carefully; the seller needs only to show what is advantageous. Caveat emptor — let the buyer beware — is the proverb's underlying principle.
This proverb from Italian commercial culture encapsulates one of the fundamental asymmetries of trade: the seller knows everything about the goods, while the buyer must discover what the seller may prefer to conceal. The asymmetry of information in transactions was well understood by Italian merchants, who practiced the art of presentation with great sophistication — showing the best side of cloth, letting the finest fruit sit on top, positioning the most attractive animal at the front of the herd. The buyer who failed to look underneath, behind, and beneath the surface was easily deceived, while the seller needed only to arrange things advantageously and wait. The proverb appears in Italian commercial literature from the 16th century and was standard advice in merchant education: before buying anything — from a house to a horse to a bale of silk — examine it from every possible angle, because the seller has arranged it to look its best. Today the principle applies to everything from property purchases to second-hand car deals to financial products sold by banks.
Documented in Italian commercial literature from the 16th century; reflects the sophisticated market culture of the Italian trading republics and the principle of caveat emptor.
A horse trader advising a young buyer examining a horse
Guardalo da tutti i lati. Le zampe, i denti, gli occhi. Chi compra ha bisogno di cent'occhi, chi vende ne basta uno — e io vi sto vendendo.
Míralo por todos lados. Las patas, los dientes, los ojos. El comprador necesita cien ojos, al vendedor le basta uno — y yo soy el vendedor aquí.
A lawyer advising a client before signing a property contract
Prima di firmare, fate ispezionare tutto — fondamenta, tetto, impianti. Chi compra ha bisogno di cent'occhi, chi vende ne basta uno.
Antes de firmar, haced inspeccionar todo — cimientos, techo, instalaciones. El comprador necesita cien ojos, al vendedor le basta uno.
A consumer educator speaking about financial products
Le banche sanno esattamente cosa vendono. Voi dovete leggere ogni clausola. Chi compra ha bisogno di cent'occhi, chi vende ne basta uno.
Los bancos saben exactamente lo que venden. Vosotros debéis leer cada cláusula. El comprador necesita cien ojos, al vendedor le basta uno.
A market inspector explaining the rationale for consumer protection laws
Le leggi a tutela del consumatore esistono perché chi compra ha bisogno di cent'occhi, chi vende ne basta uno — e gli occhi non bastano mai.
Las leyes de protección al consumidor existen porque el comprador necesita cien ojos, al vendedor le basta uno — y los ojos nunca son suficientes.