My theory on Low Ballers

[Soundguy]

Have you ever tried it this way? ,

did you read my message? didn't I indicate that when i sold on craigslist if I got a call that was over my asking price I usually hung up... wouldn't that indicate that I HAVE in fact sold this way???

OBO.. or best offer. just says best. best for sure could be a high offer.. or a low offer. best offer doesn't designate a minimum ( or maximum ).... thus I expect when listing with OBO.. to get offers , generally, lower than posted asking price.

IE.. asking price 800$ OBO I expect to get 800$ and down.. though OBO WOULD cover someone offering 850$ as you point out, asking if I can hold it for them till saturday.. OR even asking if I can deliver a short distance. It also covers the guy offering 1000$ with me paying the fee to a trucking company to ship the widget to japan where he is stationed..and he will gladly send me a certified check to cover the price, shipping and I can keep the extra.

those are the common ones I hear when they offer more than i ask.

 

[joshuabardwell]

if you price something lower than its worth you'll get folks quicky linteresteded, and then you have the seriously interested people who are willing to pay a little more than you're asking in order to get the item

That just sounds like bait-and-switch to me. If you listed something for one price and then tried to talk me into a higher price, I'd be pretty upset that you were jerking me around.

 

[Gale Hawkins]

On another note: most people think of the "OBO" is the open door for submitting a lower offer than the original asking price,
When I use the term OBO in an ad and receive low-ball offers, My reply is ( I have already had a better offer),
The OBO means (Or Best Offer), not! best low offer-----> but best highest offer for example: if I'm asking 50.00 for a 100.00 lawn mower and someone realizes the lawn-mower is worth 100.00 they will inquire to buy without a Low-ball offer, or may even offer me 65.00 for the sake of not having anyone else to get this mower for 50.00, some might think it's like auctioning an item off, But not really, I think of it more as a tactic I use to help weed out the low ball offers, usually if you price something lower than its worth you'll get folks quicky linteresteded, and then you have the seriously interested people who are willing to pay a little more than you're asking in order to get the item, ......Though If you put your set price out there and use the term "Firm" it may be too high that most people won't even bother to inquire, unless of course they think it is a good buy:thumbsup:

Your twist on the meaning of OBO is a new one on me.

 

[Soundguy]

That just sounds like bait-and-switch to me. If you listed something for one price and then tried to talk me into a higher price, I'd be pretty upset that you were jerking me around.

i fully agree. it's exactly what it is.. bait and switch. drum up interest then raise price due to demand.

i try not to do business with unethical sellers/business's like that.

soundguy

 

[joshuabardwell]

i fully agree. it's exactly what it is.. bait and switch. drum up interest then raise price due to demand.
i try not to do business with unethical sellers/business's like that.

And, for what it's worth, I have lost money before because I listed something too low and got a lot of offers, but didn't feel right changing the price after the fact. Once or twice, I have realized that I dramatically under-priced something, and re-listed the item at a higher price, but usually I feel compelled not to raise my price, which is why I start high and work down from there.

 

[Soundguy]

it's the safe way. I figure what I want/need out of something. add in some 'fluff' for those that want to dicker and then list it.

my want / need # has my cost and some small engineered in profit margin, if applicable,.. the fluff is just there for people to dicker on. I know some people like to do the offer / counter offer thing.. actually get mad when you won't.

other times I simply want to just BE RID of something but feel someone else might want it vs me taking it to the dump.

I usually price those low, and keep going lower till it sells. I've listed stuff for sale that I've GIVEN away just to get rid of it.. VS me loading it up to haul away.. still a win-win for me if I don't have to handle it anymore..

 

[Pitch1]

I don't respond to OBO ads. Maybe if it was something I really needed,but I have never run into that scenario.
If I respond to your ad,it is because I am ready to buy then and there if an agreement can be reached. I show up at your place with trailer hooked on and cash in my pocket. If we can't agree I leave my number and say to give me a call if you will meet my price in the future. That in no way disqualifies me from buying a like item from someone else for a better deal.

 

[greasemonkeyok]

i fully agree. it's exactly what it is.. bait and switch. drum up interest then raise price due to demand.

i try not to do business with unethical sellers/business's like that.

soundguy

Just asking: how is that any more unethical than calling the seller and offering a ridiculously low ball price to induce him to take a later low price offer? Seems to me to be the exact same use of psychological ploys that advertisers and horse traders have been using for a long time.

By the way, it is not "bait and switch" as that phrase is normally used in advertising, which involves selling an inferior product from what was advertised. It is "I've changed my mind and don't want to sell at that price anymore".

 

[Soundguy]

Just asking: how is that any more unethical than calling the seller and offering a ridiculously low ball price to induce him to take a later low price offer? Seems to me to be the exact same use of psychological ploys that advertisers and horse traders have been using for a long time.".

if the add is listed as OBO or make offer.. I fully expect the seller to EXPECT people to call in and make an offer. The seller can always choose to keep the thing as long as he needs and not take the 'offers'.

By the way, it is not "bait and switch" as that phrase is normally used in advertising, which involves selling an inferior product from what was advertised. It is "I've changed my mind and don't want to sell at that price anymore".

which is unethical.. if someone has agreed to sell something, and then the buy drives over ( across town? across the state? ) and thenthe seller decided to up the price... that's not right... and the seller deserves some serious bad karma for doing that. In many cases the buyer may be 'stuck'. IE.. I'f I've driven a few states to buy a tractor for 3500$.. and invested 600$ of diesel, and get there and the seller now wants 3700$.. as the buyer.. i have to look at the following. If I turn around and leave.. I've lost 600$ of fuel.. and still have to find a machine.. meaning possibly another trip and more expense.. and time. OR I pay the extortion price premium tot he seller who told me he'd sell for 3500$ before I left florida a day ago.

like I said.

BAD karma...


soundguy

 

[Gale Hawkins]

When driving a great distance I will ask how many $100 bills will it take to get it if it checks out.

Real sellers do not get upset over low ball offer BECAUSE the deal is not dead. A true low ball bid (one that the prospective buyer will show you the $100 bills to your face) is at least a valid prospective buyer and not just a tire kicker.

The last vehicle we bought was a GM product from a Ford dealer. They asked $17K (retail NADA/Bluebook) and I said no that I would not even drive it at that price because I buy at wholesale with cash but was looking for the same type SUV but a Navigator. They cut it to $14.5K and called it the deal of the day. I said no but that I would drive it home for the wife to drive (60 mile round trip). Returning a few hours later they asked my offer and I stated $12K.

The sales manager ran backwards and stated they did not sell at whole sale and that they had to cover overhead, etc, etc.

I let him know that I was totally fine with his position because I was in business as well.

They had the 2003 Escalade with 102K miles for over 90 days and one failed sale due to guy could not get a loan.

I just told the sales manager I just made an offer if he wanted to trade his aging metal/plastic for my cash and stopped talking the deal and just got into talking with the saleman about people we knew in common. Finally they were closing about 4 and I said I had to go get some lunch that I had missed and the salesman asked would I write them a check for $13K if the manger would agree.

At that point I released if I said YES that I was going to be out $13K without a doubt.

They had made me park my Blazer over on the back side of the parking lot in a line of junkers so I told the saleman's I was going to get my Blazer and he could let me know what they decided on the deal. I was out the $13K as expected.

The 10x16' building I bought last week the guy was asking $850 and I asked him how many $100 bills to close the deal as it was getting dark and I had driven 60 miles after a long day. He said he wanted to see my offer in cash so I counted him out 5 bills since I had 9 that was going to pay the guy for another option but he could not meet to get the cash so I looked at this second option.

He said NO but he would take $650. I thanked him and started to get into the car when he said $600 would buy it. He had had one looker that walked. The building had no sled runners so it had to be raised nearly 3' to clear the trailer which is hard to do and keep it stable and it was 120 miles round trip in the old F700 at about 7 MPG. It was on the place when he bought it and wanted it GONE really bad. My low ball bid met is primary objective to clear the building from his lawn with no cost to him but some cash.


Low ball bids are a good thing for the seller and maybe even the buyer. I lets the seller set the final value on the item for sell.