What's up with the ridiculous offers?!?

Just had the same thing happen. I have a "9" component listed for roughly 55% of it's new price, and get an offer 25% below that. I respond with a counter in-between. Response: Declined. I think you're right. These are dealers just wanting to get an absolute bargain, so they can resell it for more elsewhere. Hey, it's America. I've got no problem with that. I just wonder if that's what Audiogon had in mind. One problem w/ the interface is that once a counter offer is declined, Audiogon closes out the offer completely, so you don't have a chance to make a counter-counter.

what is lowball to me is also different for an item that has been listed for under one hour vs an item that is unsold after 25 days...

Assume you are a very truly honest with your sale, right. You only really know the real value of the item you have. You only, of course you can describe it as honestly as you can. But usually buyers speculate that the seller is just trying to sell for a too high price compared to its "real" value or whatever. So lowballers who maybe really don´t want the item at all just make stupid offers, just try to get it cheap to sell it again for a higher price perhaps. Others just like to have it for cheap, whatever the real "value" may be.
Simply ignore low ballers, you owe then nothing. Wait for a person who truly wants your item (maybe has searched it for ages) AND HE WIIL GET IT and is happy ´cos he ever had the change to get it.
I was selling a NOS Oracle Groove Isolator for nearly 2 years on regular basis here on A´gon. I asked 250 euros for it... reasonable price. A german guy bought it and never asked anything. He even may have had paid for some more perhaps. We both were very very happy. Once I had one very rare record for sale on another (totally free) auction site for 7 years. Suddenly a guy from Åland bought it and couldn´t be more happy.
Collectors search for items that have reasonable prices for THEM, of course. Some wealthy fanatics don´t have to consider the price, just get the desired thing,
IME it´s sellers market but you must be very patient. And wait for another thousand years... but it is worth. Frankly, I prefer eBay and always auction ´cos that reveals the real deals.

greginnh, I like it. That is exactly what you do. Buyer should make a formal offer and the seller either accepts it or makes a counter offer. This is work in progress.

I think there are many low-ball offers around, but also many sellers asking for unrealistic prices (I am not implying that you are one of them!). I understand is hard to swallow the loss when you are selling an equipment you bought new and you took lot care of it, but the market always wins...