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What is a lowball offer? How low is low?

Recently I was looking at 2 -3 preamps. One was particularly interesting which was a Conrad Johnson 16LS2. The asking price was $3500. I have always wanted the 16LS2. But it was out of my price range. I couldn't make a serious offer. So I didn't and moved on. A few days later I see that it has sold for $2500! What? That was in my budget. But I would have considered that more an insult than a offer. And because I didn't want to insult the seller, I lost a good preamp to someone who was willing to take the chance. So what is the lesson learned here? Apparently I should insult more sellers . The seller wasn't insulted after all. he sold it for $2500. Or is the lesson that I take this stuff too seriously?Should sellers be insulted when offered 50% of their price?  I had thought that 10-15% below the asking price was a realistic offer. Now I'm not sure. So what do you consider a low ball offer? And please, I understand that a product is worth what someone is willing to pay. So no economic lessons please
128x128artemus_5
larry5729's avatar
larry5729
1,008 posts
 
When you travel outside our country you will realize other cultures barter for everything.  We are one of the few societies that are willing to pay retail.  I have purchase expensive Stickley furniture when they have had a 45% off sale.  I often ask if you give me another 5% off we will buy it on the spot.  Then say, this is certainly better than a goose egg.
artemus_5's avatar
artemus_5 OP
1,926 posts
 
@larry5729
I suspected that was the case. I had never seen it done by my parents. I've learned to haggle because that is what is generally expected anymore
mr_m
1,900 posts
 
artemus_5

I think you might be over thinking the situation. Offering what you can afford is not low balling. Just use a little common sense. For example, you don't want to make an offer of only $200 to someone who is asking $1500 for what they are selling. To most, that would be an obvious low-ball offer. Your asking of 10 to 15% off a seller's asking price doesn't seem unreasonable. As one other person said,  it depends on how you say it.

minorl
1,016 posts
 

I'm not sure I agree with many of the responders.

There is such a thing as the "blue book".  just like other blue books out there, one can find the high, low and average sale prices of items.

This gives a very good idea of what items are worth and what they are typically selling for.

When I buy and sell, I try to have a good idea of what the item is "worth" or what they are selling for.

I typically list items for sale at slightly below average blue book sales price.

Because I don't like to haggle.  i understand other countries and cultures.

I sell for what I feel (after research) what the item should be priced at (actually, slightly lower).

I try to not be desperate to buy or sell and I have a firm commitment to walk away or not respond if the offer is stupidly low.

Another thing, people some times feel that your listed price is one that they can dicker over.  When in many cases, it is already below blue book and it is what it is.

Also, not every used item should be and is listed at 50% below new.  That makes no sense to me.

If it is rare, it may be priced at higher that new or higher than blue book.  If it is still in production and not old at all, then no way will it be priced at 50% of new. 

my prices are slightly lower than blue book based on the condition (that I list honestly every time).  So, I don't really haggle much on the price.

enjoy

gillatgh's avatar
gillatgh
381 posts
 
I believe that an offer that one makes should be the offer one can afford to make and immediately pay if the offer is accepted. I also feel that a prior communication with the seller can go a long way to come to a fair tranaction that satisfies both the seller and buyer.
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