"What's Your Best Price?"

An old story: A couple decides to sell their home for "$120,000.00". A potential buyer comes along. He's sensitive to others feelings. So he tries breaking the ice by replying " whats your best price?" The seller then accepts a 50,000.00 cash offer. Who is the fool here? Neither! The prospective purchaser was smart enough to at least ask the opening question and therefore winds up with a killer deal. The purchaser ends up with the funds he needs in an emergency situation. It's a win, win situation. This was an actual real estate transaction while I was selling real estate.

Another story: A friend of mine had heard about a guy in trouble with a corvette for sale. He figured what the heck and took the time to go look at it. His wife said "they were asking $7500.00 for it". Turns out the owner needed the funds very soon so at to avoid going to jail. So my friend asked "what was the best he could do on it". The guys wife said " I could take $6,000.00 today". My friend offered $3500.00 and the guys wife accepted to offer with out hesitation. My friend then sold the vehicle only weeks later for $5,500.00

Moral to the story is you don't know if you don't ask. We all see ads stating "we buy homes" "we buy furniture" "we buy autos". You can bet your bottom dollar these ads would not keep reappearing if they were'nt making money.
I myself have purchased many homes at 30% discount to retail not by placing these ads though.

Everyone likes a good deal but not everyone treats their equity the same. To some equity in things like homes, autos, furniture, audio etc... is not treated the same as cash in their hand. I just don't think we should get overly excited when someone is looking for a deal, after all we don't have to take it. For what ever reason some of us are more frugal than others and some not frugal at all. Actually this can be proven.

Just look at the sales history on some of the equipment sold here on Audiogon. Some are selling for less than actual value and some for more. I'll also bet there is a lot of reselling going on here at Audiogon which they could not afford to do this if they were'nt getting a deal some where.

Happy Holidays!

Did you ever see those commercials for the dollar store, where the customer keeps asking 'how much does this cost?' and the clerk keeps responding 'for you, one dollar'?

That's a great reply.

"What's your best price?"

"For you, one dollar."

LOL.

Onhwy61,

You nailed it for me. I put up a number so now it is time for the buyer to put up a number. "What's your best price" especially irritates me when it comes five minutes after my ad has been posted.

As someone else pointed out, I have never sold an item to a "what's your best price" buyer. But I have had very successful negotiations with serious buyers who were willing to make a reasonable opening offer.

I pretty much ignore "WYBP" buyers unless my ad is about to expire. I also never list an item as "OBO". I almost always get other offers regardless of how the ad is posted.

Maybe I just don't get it.... But this thread (and the majority of the posts) are people complaining about interest in their items for sale?

Someone is sending you an email because they may be interested in purchasing it... otherwise, why would they be sending the email?

When someone asks what your best price is, you simply turn around and ask a question of them. "What price would you feel comfortable with paying?" Who knows, maybe it will lead to a sale. No need for emotions.

It seems negotiation may be a bit of a stretch for some of those responding. You want to buy or sell with no effort.

"best offer" and "best price" simply gets things started. If you don't respond to either positively nothing happening is usually the result. Try not to take it as personal affront when someone starts a negotiation.

When you buy you want the lowest price possible and when you sell you want the highest. Getting to either place is part of the fun for many of us.

Sidebar:

Is an auction really a negotiation? Once a price is established it always goes up not down.