The issue of lowballing... What does that mean?

I have found the vast majority of offers made to me on this site to be very fair and I probably accepted most of the them, if not all. However, I think we've all had annoying people who are more interested in bargaining than actually purchasing something. You could put up a pair of Magico Q1s for $20 and they'll offer you $10. When I get an offer from one of these types, I will just reply "No thank you" and leave it at that. Sometimes they will raise their offers, but I honestly would rather not deal with them at all. I think that once they get the item, they will attempt to start re-negotiating the price, because that's what they live for. I just don't need the aggravation when there are so many people here who are a pleasure to deal with.

I grew up in the antique business. (school of hard knocks). A women came in and made an offer on an item marked 325-. She said (to my mother) would you take 2 dollars? My mother said "this is marked 325 dollars. The women walked out embarrassed. It sold very shortly after for 300-.
Another time a women came in and fell IN LOVE with a rocking chair saying "it is JUST what I have been looking for!!", and how much? While I called for the price she was sitting in it and loving it!! I came back and told her 125-. She looked funny and replied "I am really looking for something much nicer"!! That one sold very shortly afterward as well.
It goes both ways and every which way.

Fortunately, whenever I sold items on Audiogon, I have never been "desperate". So, I investigated the "market price" for the item, remembered how long I have owned it or how old it was to determine how much to mark it down or mark it up in the event that it was worth more and started from there. I always have a price point whereby I will not go lower so, when some send extremely low offers, I always respond and tell that person that it is wayyyyy to low. If their offer is close to my price, I may compromise, spit the difference if it isn't too much, etc. But, all buyers and sellers can check the blue book values of items. It also shows trends, average prices, low and high prices also. I always try to price my items to sell, so I typically price lower than average blue book prices anyway. Some may think that I'm desperate when they see my listings because it is lower than average blue book prices (unless it is a rare jem and I won't lower it), but when they submit their offers, and it is too low, I simply tell them thus and that is it. I will not respond to a stupidly low offer with a counter offer. It (to me) is up to the buyer to present a reasonable offer. I will not haggle when selling. As long as I'm within the respectable used sale price range for the item, I can dance a little. I'm not trying to make money here, but I do want to get what the item is worth. Yes, it is worth what a person is willing to pay for it, I've said that here many times. But we have agreed to establish a rating/pricing system (blue book, etc.) and I use that. Most stereo stores definitely use it for demo and used equipment for sale.

enjoy

The most accurate way to determine price when you are the seller, is to ask YOURSELF, "what would I pay for this". Ask for that amount. That's fair.

Cheers

Thanks for all the very thoughtful responses. I agree with the consensus, if you like something make an offer you are willing to pay. Simple. If the seller (including me) doesn't like the offer they are free to decline or ignore. Again, simple. If you don't want offers make the price firm.

As far is Markpao's comment... I still don't know what constitues a "lowball" offer. What is a bargin price? The prices on Audiogon for the same basic product sometimes vary wildly. Today there are two MD tuners for the same model differentiated by a 70% price variance. It's like my boss saying we need to cut expenses - does that mean I need to fire half the sales guys - or stop letting them expense Starbucks coffee?

I do want to respect peoples wishes. Many of the people I have bought from or sold to, I am still in contact with discussing music, product or life...

Thanks again for the feedback.

SB