To begin with, you have to follow the market to be an informed consumer, at least for your favourite products/manufacturers. By doing this, you will know what a fair price is. I will also assume that I'm dealing with somebody who also knows the market; at least I'll start with that assumption. With this starting point, first I'll discuss purchasing. Upon seeing an ad for what I want, if I feel the asking price is fair market value, I offer full price immediately so that somebody else doesn't grab the item. After all, it's a fair price. If the price is higher than fair market value, either the person is unfamiliar with the used market for the item, or the person is leaving some haggling room. I'm not sure which is the case. So I offer the lower, but fair market price. I wouldn't insult him by lowballing less than fair market value and assuming the person is stupid. If he doesn't take the fair price, I walk. I don't look to take advantage of another person with a lowball offer, but neither will I be taken advantage of by paying an unrealistic price or by wasting my time haggling with a person who has an unrealistic expectation as to the value of his item. Next, selling, It's a bit simpler since I don't haggle. I offer my item firm at fair market value. If the purchaser know the fair market value, it's a quick deal with an offer at the list price. Any offer for less is a lowball. The person either doesn't know the market or thinks I'm stupid. Communication ends pretty quickly. Also, as some other posts note, the market moves in cycles. Just because you don't get an offer at your price doesn't mean the price is not fair. Something that is listed for a couple of months without selling can sell immediately at another time of year. Overall, my experience has been to buy and sell at list price, with no haggling, with courteous, decent AudiogoN members. The only bad experience I had was with a guy who offered 25% less than fair market value, plus lowballed shipping costs, plus wanted me to eat PayPal costs. When I courteously told him that I couldn't sell to him, he got supremely ticked off. Having had this experience, I can understand why some listings state that lowballers will be ignored. Lowballers assume you're stupid and are most likely to be discourteous to you.