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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
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.
kink56's avatar
kink56
91 posts
 
So many people are so afraid they might be paying too much. Oh the horror if one finds one less expensive after they buy something. And as it has been already stated, even after accepting a lowball offer, often times they still don’t buy it. I NEVER make an offer I am not prepared to pay IMMEDIATELY. And I never accept an offer I do not expect to be paid IMMEIDIATELY. So many wishy-washy types.

I have stopped bothering to list items on Audiogon because in my experience these problems are worse than on other place I list my gear.

I have had people email me for up to a YEAR about something I have for sale, trying to decide. I finally told one I would not sell anything to him no matter what. He came back that he did not understand why people (apparently he does this to others as well) get upset just sitting at a computer and answering questions. I told him people get angry answering the same questions over and over again for a year from the same person. And that HE was not the only person asking questions.
iopscrl
196 posts
 
You never know why someone lists an item for sale.  Do they need to sell, do they just want to see what they can get for the item, are they thinking of upgrading etc etc.  You will not get a sense of a seller's motivation if you do not engage the seller.

I try to make sure I am never in a position where I have to sell an item.   I generally research CMV, and set my price a little higher than that.  Sometimes the item sells immediately, sometimes not.  But I always sell for my price.

Most of my equipment was purchased used.  I have no qualms about offering what *I* think is a fair price....it is my money after all.  If the seller disagrees, then we agree to disagree.  If the seller makes a counter offer then I know a deal can be made.   Everything I have purchased would qualify as a "good deal" in the opinion of many observers.  

Offer what the item is worth to you.  Be polite.  Be firm.  Be prepared to move on.  There will always be another seller.
desktopguy
367 posts
 
Every situation is different. Factors that make a given offer "reasonable" vs "lowball" include:

1 - Whether the unit being offered F.S. was purchased used or new
2 - Age & condition of the unit
3 - Relative rarity and/or reputation of the unit
4 - Reputation of the seller

Let's say I purchased a new headphone for $3K, then sell it after 2-3 months, in perfect condition, relatively little use. It's a much in demand headphone. My instincts in these matters tell me that an aggressive price would be $70%-80% of list, incl. paypal & shipping in U.S. (everyone pays list for this thing when new). Given all that, if someone offered me 50% I'd laugh in their face--a clear lowball. But if I'm @80% of list and someone offers 70%, it's not lowball at all. They've done their research & we can start dickering...
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