What is " lowball"

I think I have a better understanding of how to make my offers now but here is my next question.
When I make an offer I do it only when the money is set aside and I am ready to commit. I try not to have offers with different people at the same time. This means I am looking to buy now. How long do you guys wait for replies before making other offers?

Mthieme,
Conventional wisdom suggests that while considering offers and counteroffers the seller has a reasonable time to respond. To avoid tying up your dough waiting on that open ended response, nail it down by providing a time limit in your offer. At the same time spell out all your other terms. For example say: I'll give you $$$ paid how and when for XYZ, its original power supply, power cord, box and manual shipped how and when if you respond by 6pm today.

Genuine sellers respond fairly quickly to sincere and reasonable offers. Market testers, wishful thinkers and daydreamers may not respond at all. Making your offer clear and complete paves the way for agreement on both sides.

Once I commit to an offer I give the seller my phone number. If you truly want someone to communicate with you provide them with every means possible.

Sellers of second hand goods should always price their products with some wiggle room.
Buyers on a forum like this want to feel they got a deal.
Some percentage off, throw in some wires, share shipping costs or offer a solid guarantee, somthing.
I like to see items listed low and have the buyers bid it up to the proper price.

Should be fun.

I'm more annoyed with people who inquire about an item listed for sale, make an offer to buy and then when an agreed figure is decided upon, they back out! Seems to me these folks never intended to buy anything! Just like to play "lookelou" and "kick the tires" or were just looking for some reason not to buy!
P*sses me off!

Sorry if this is a dupe posting to this thread. I'm trying to get this out there as I'm tired of getting hit with lowballers.

FYI

Audiogon has now defined lowball offers to be 55% off of what you list.

I don’t know if you all saw this but I got an e-mail from A’gon stating they have a new feature in place to hinder insane lowball offers.

After you log in go to your Account and select Edit Account. Then scroll down in the Policies section there is a check box to automatically reject lowball offers.


Policies

Lowball offers

Automatically reject offers below 55% of your asking price.

I wish this could be user specific. I would have set this to 45% off of listing price for my tastes but it is a start for Audiogon. I hope this button works and deters the stupidity of the lowball offers some people send.

Thanks