Low-Balling

[kxxr]

The term pops up all over the place, usually with negative connotation and most recently in the "What is this SK socket set worth?" thread.
I think it's an interesting topic and I can think of no better place to seek informed opinions than from the esteemed members here at GJ. I'd be interested in hearing a few definitions and then arguments (in a civil fashion, of course) for and against.
So, for those interested or those knowledgeable or having strong feelings on the subject; define and discuss lowballing.

 

[Zebu Fellenz]

Lowballing in my opinion is offering significantly less than an item is worth.

As an example if a wrench set is for sale that retails new for $400 and generally sells used for $200 a $75 offer would be a lowball offer regardless of the seller asking $300 for the set or $100

I don't have any issues with lowball offers, the way I see it, if I'm selling something and need money I want to see and be able to consider every offer on the item because even if it's worth say $200, $75 is a heck of a lot better than $0 if there's no other interest.

Only thing I have a problem with are people who get too emotionally invested in their sales and are easily offended by offers.

I respect sales with "firm" prices and will not make offers, but if an item is OBO I'll happily make whatever offer makes sense for me.

 

[padronanniversary]

what cracks me up is when the low baller gets all mad because I did not reply. Its not personal, but if a low ball is somewhat insulting i.e. $10 on a $100 asking then I am not going to take the time to reply back.

 

[Avgas]

Agreed, you should not take offense to lowball offers and simply decline, I don't even reply to such offers. If you look at it from a buyers point of view, what do you have to lose in making such an offer? Nothing! You realize it is a low offer and are more then likely ready to be rejected. There will always be these types of offers out there, and I admit of even making one or another. The only person who looses in the end is the one who gets upset.

 

[0.511MeV]

Low balling is a "hardball" negotiation technique that can be engaged in by either party to the deal.

There are three key "variables" in a negotiation over a product or service:
time
cost
quality

Seller lowball: If a seller offers the good or service for an extremely attractive combination of two of those variables, gets commitment, and then springs a very unattractive requirement for the third, it is a lowball.

Example: A good is offered for $10/unit, quality meets and exceeds your expectations. You accept the offer. The seller then mentions delivery will take 6 months, instead of the immediate deliver you were expecting.


Buyer lowball:This is what many people think of when they hear lowball. A buyer makes an offer on a good or service that is significantly below market value on any or all of the variables.

Example: A buyer agrees to buy something for your marked price, at a given level of quality, but demands delivery today instead of the 30 day lead time you quoted.

Negotiation theory says to walk away from any lowball. The lowballer can not be negotiated with using reason and logic, they are too emotionally invested in getting something for nothing. It becomes combat rather than bargaining.

In real life, I find that to be true. I've only been lowballed once on a significant negotiation. I walked, and got the terms I originally agreed to for from another source about a day later (because they were fair given the market). For about two weeks I was hounded relentlessly by telephone and email by the lowballer, including some very angry voicemails.

When I offer things on Craigslist, I simply don't reply to any lowballs.

 

[honcho]

In a strict economic sense, every offer, regardless of how low it might be, is legitimate. However, buyer and seller psychology often trumps economic good sense.

I often write in my Craigslist ads that "lowball offers will be ignored" and usually I do ignore them. Sometimes I get my dander up over some stupid offer and make some snarky comment like "ok, If you'll sell me your car/bike/whatever for 20 percent of its' value." Generally, as a seller, I find it best just to ignore the offer or, at most, tell them no thank you. Although one time I agreed to a $5 offer on an item I had listed at $30 and then led the buyer on a wild goose chase before letting him catch up with me so I could tell him that I sold it to another person.

Buyers, especially predatory and opportunistic buyers who wouldn't buy what they're offering on if it isn't a incredibly good deal to them, have nothing really to lose by making ridiculous offers. If, by chance, the seller accepts then the buyer got the item at his price and as long as the seller freely agreed to the price, then all is well. However, sometimes buyers shoot themselves in the foot by making ridiculously low offers, especially if they want the item and are willing to pay more, even up to the asking price. I recently priced something at $150 and knew that I would sell it at that price given the number of responses I received to the ad. One prospective buyer responded with an offer of $100 which I politely declined. They raised their offer all the way to the asking price and by that time the item was sold.

I tell friends that if you want to buy something off Craigslist and you see an ad with what you want at an acceptable price, quickly respond saying you want it and ask when and where you can complete the transaction. Show up on time, inspect the item and negotiate in person. If the item is older/not in as good of shape as expected or otherwise not worth the asking price, politely point the flaw(s) out to the buyer and attempt to negotiate a lower price. I find, more often than not, I can obtain a somewhat lower price under those circumstances. But keep in mind that if a seller has had many responses to their ad, they may well refuse a much lower price unless they really just want the item out of their life and some money in their pocket.

 

[Carl B]

I sold cars for several years - as I worked my way though college, then as I tried to survive during those periods of 10%+ unemployment in the past 50 years.

As much as used car salesmen lie and deceive - - - they are usually matched by the lies and deception put on them by their potential customers.... Yes, it's just horse trading...

When a customer comes into your showroom - "just looking" - and you decide that they aren't really ready to actually buy - ie sign on the dotted line - - - you put them out shopping the open market on a "low ball"... Knowing that no one can match it - you expect the customer to return when he is actually ready to BUY. Of course you can't actually sell that low - but you have a second chance at the sale - this time with a more knowledgeable buyer with more reasonable expectations.

"Yes Sir - I understand that you want to consider all options, and you are wise to do that. When you are ready to buy, come see me and I'll take at least several thousand dollars off our window sicker for you".

OR as others have mentioned - you "low ball" them on their Trade-In when they are actually ready to sign on the dotted line with the right deal.

"Yes sir - my Sales Manager really liked your trade-in and he wants us to do business today. He stepped right up on this one and went over book for you. He's willing to go $2,000.00 on it."

Of course in this case the Customer has said he expects to get $10,000.00 for his $5,000.00 trade-in. Hitting him with a low ball of $2000.00 erases all memory of that $10,000.00 figure he gave you - when in fact he as hoping to get $8,000.00. Now he's ready to take $4,000.00.

In either case one uses the "low ball" to change someone else's perspective or mind set...

Is it "Fair"????..... da.......

FWIW,
Carl B.

 

[kc-steve]

As I stated in the "S-K thread" mentioned above, I haven't read the "Art of the Deal" but truth be told, a "good deal" is truly where EVERYONE feels good about a transaction. If you sleep well at night with offering people ridiculously low prices and sometimes getting them at those prices, then you have no conscience, or sense of right and wrong.

On the other hand, a seller in a garage sale, estate sale, pawn shop, is offering a price THEY consider to be a good deal. You cross the line when you make a counter-offer that is ridiculously lower.

Sleep well if you can.

Steve

 

[GTO]

If I feel an item is worth the asking price,I'll pay it.
If I don't, I make an educated offer of what it is worth to me.
I don't know about this lowball stuff you're talking about.

 

[wantedabiggergarage]

When I think of lowballer, I think someone who is attempting to buy, in order to resell. (they figure you don't have time to wait)

 

[Packard V8]

It's up to the seller to set the upfront guidelines for negotiations:

1. Price firm - don't bother with offers
2. Price $** OBO by Xxxday.
3. All offers considered.

If the seller doesn't control the conditions of sale, he has only himself to blame for getting lowball offers. If he engages with a supposedly potential buyer at too low a beginning of the bargaining, he has only himself to blame.

There are always a few bottom feeders who go through craigslist and/or yard sales and throw out lowball offers. They have plenty of time and only have to get a yes once in a while. (Reminds me of a guy I knew back when who propositioned every girl he met, sometimes while on the streetcorner waiting for the light to change. "Costs me nothing to ask and only got to get one yes to make it a great day!")

jack vines

 

[DHS]

If I want/need it and its a fair price I pay it. Now on somethings that I dont need but would get if cheap enough I have been know to lowball.

 

[Zebu Fellenz]

If you sleep well at night with offering people ridiculously low prices and sometimes getting them at those prices, then you have no conscience, or sense of right and wrong.

Steve

So when I bought a toolbox that usually sells used for +$1500 for $800 because the tech was out of work and was losing the house the next day did it make me a bad person with no sense of right or wrong or a conscience?

The way I see it I helped him, he needed it gone and he needed money to take care of his family. Would I have been a better person if I didn't buy it?

I low-ball, I don't have any trouble sleeping at night because of it.

 

[RivennHewn]

Ya, your avatar creeps me out a little too.

 

[kc-steve]

So when I bought a toolbox that usually sells used for +$1500 for $800 because the tech was out of work and was losing the house the next day did it make me a bad person with no sense of right or wrong or a conscience?

The way I see it I helped him, he needed it gone and he needed money to take care of his family. Would I have been a better person if I didn't buy it?

I low-ball, I don't have any trouble sleeping at night because of it.

I'm speaking in general terms. Yes, we can ALL find instances where we have helped someone with our purchase. But if you had offered him $100 then I would have a few more descriptive words for your character than can be said in mixed company.

Get over it dude.

piece yourself,
Steve

 

[Frank The Plumber]

Low balling in my opinion is done by an individual who has no absolute need for the item in the hand of the seller. I believe it is done as a form of gamesmanship. A toying or playing with the mind of the seller in more of an attempt to win a physcological victory than to actually acquire the item. The item becomes residual and any profits or mark up from the game is only timber to fuel the ego, large or small of the gamesman.

In truth Low balling can only be done on an item you care little about, it's a game, you can lose a game, thus if you care about the item you would not low ball.

As a seller when a person comes along whom obviously is lowballing you should use this understanding of their gamesmanship to your advantage. If you seek to actually sell the item you can successfully win against a low baller by marginalizing his victory.

It should be understood that he does not care about your happiness, he only truly cares about a win, he is not like other buyers who are honest and fair. There fore the more wincing moaning and seeking of forgiveness from the mighty you do during the deal with a lowballer the better off you are.

There are those who actually really enjoy the lowballer and enjoy trying to counter maneuver this guy like a chess match. It can be great fun to watch two guys go at it over a piece of junk, faking the sweats and posturing.

For the rest of us , who don't play games, a lowballer is a pain in the ***.

 

[Lookin4'67Galaxieconv]

If you sleep well at night with offering people ridiculously low prices and sometimes getting them at those prices, then you have no conscience, or sense of right and wrong.
On the other hand, a seller in a garage sale, estate sale, pawn shop, is offering a price THEY consider to be a good deal. You cross the line when you make a counter-offer that is ridiculously lower.

Sleep well if you can.

Steve

C'mon people. We're adults here, are we not? Why all the moral indignation? If a buyer lowballs a seller, the seller can ignore the offer or take it. Simple as that. Why all the "you've crossed the line" and "I hope you can sleep well at night" kind of talk? This is a free society (mostly) and in a free society people have choices.

Lowballing isn't prostitution or selling drugs, it's offering less than an item is worth. Big deal. I don't see the moral dilemma here....

 

[srmofo]

An item is only worth what the buyer is willing to pay for it. If the seller doesn't like his offer then he needs to find another buyer.

Personally if I'm not embarrassd by my first offer then it was too high. I don't make an offer without first looking at the item though. I'm respectful about my offer and explain why im only willing to pay X amount, and I never harass a seller

 

[Chris Adams]

I'm speaking in general terms. Yes, we can ALL find instances where we have helped someone with our purchase. But if you had offered him $100 then I would have a few more descriptive words for your character than can be said in mixed company.

Get over it dude.

piece yourself,
Steve

I know of a case where no one would 'low ball' the lady.
My mother in law.

She was trying to sell a complete machine shop, her late husbands.
She was hoping for about 10 cents on the dollar of what it was worth, but everyone that started to make an offer was hated on by the family for not offering more.



I was almost assaulted by inlaws because I wanted to offer her 2000 bucks cash.

I didn't need the stuff, didn't want it at the time, had no place to store it, but I hated to see it scrapped.

The family would not give her my offer.
So it was scrapped.
Her total was 60 dollars.

But hey, at least she wasn't low balled. That's what scrap sold for that day.

I bought a very nice Matco box a couple years ago, like new, for 600 bucks.
I've had people on forums say I 'cheated him'.
No I didn't.
I would NOT HAVE BOUGHT IT for 650. I didn't need it, and a 'fair price' was not going to happen.

I had 600 bucks to throw away, the box was there, and while he was asking 1500, it was not moving, no one else would even make him an offer.


I didn't actually, myself.

I had told my wife I would love to have it, but didn't want to offer him what I would actually pay.
She called him, politely told him it was worth more than we would pay, but if he decided to sell it for that, it would be cash and we would pick it up immediately.
Three days later, he called. His choices were sell it, pay to have it moved or give it away.
Our 'low ball' was the only offer.

 

[kxxr]

Ya, your avatar creeps me out a little too.

Is it my tie? I knew I should have picked a different tie.
Great discussion, thanks everyone. Very informative.

 

[Chris Adams]

C'mon people. We're adults here, are we not? Why all the moral indignation? If a buyer lowballs a seller, the seller can ignore the offer or take it. Simple as that. Why all the "you've crossed the line" and "I hope you can sleep well at night" kind of talk? This is a free society (mostly) and in a free society people have choices.

Lowballing isn't prostitution or selling drugs, it's offering less than an item is worth. Big deal. I don't see the moral dilemma here....

An item is only worth what the buyer is willing to pay for it. If the seller doesn't like his offer then he needs to find another buyer.

Personally if I'm not embarrassd by my first offer than it was too high. I don't make an offer without first looking at the item though. I'm respectful about my offer and explain why im only willing to pay X amount, and I never harass a seller

Yep.


Low balling (as used in forums, not 'technically') is always in the mind of the people involved.
I sold a Jeep TJ recently for 20% under my asking price. The guy kept apologizing for 'low balling me.

I've gotten offers for 10% of asking price many many times.
I laugh and forget it.
It doesn't mean anything.

Funny, lots of guys have called me, CL usually, and offered 25-40% right off the bat, then ended up buying the item (usually a tool box) for 85-90%. When the offer is declined, the bargaining starts.

 

[kxxr]

I know of a case where no one would 'low ball' the lady.
My mother in law.

She was trying to sell a complete machine shop, her late husbands.
She was hoping for about 10 cents on the dollar of what it was worth, but everyone that started to make an offer was hated on by the family for not offering more.



I was almost assaulted by inlaws because I wanted to offer her 2000 bucks cash.

I didn't need the stuff, didn't want it at the time, had no place to store it, but I hated to see it scrapped.

The family would not give her my offer.
So it was scrapped.
Her total was 60 dollars.

But hey, at least she wasn't low balled. That's what scrap sold for that day.

Excellent point: Value is relative.

 

[Beerman]

I guess "lowballing" in some ways is in the eye of the beholder and aligns itself with one's moral compass.

What one individual would consider "lowballing" might be considered "gamesmanship" or "smart negotiation" or even "cheating" by someone else.

As an example, there's a guy I know from the local flea market that I see from time-to-time named Jim. Behind his back, he's known as "rip-off Jim". The joke is, Jim never met a man he was unwilling to try to cheat. One day, Jim was at my table and we were running our mouths and a 10-12 year old boy came up and offered to sell Jim a knife-a seller at another table pointed Jim out and told the boy that Jim collected knives. Jim took a look at the knife the boy had and asked how much? The boy said $10 or so (this has been around 8 years ago, so I don't remember the exact dollar figure). Jim talked him down a few bucks, the kid agreed and Jim handed him the money. As soon as the kid was out of earshot, Jim started grinning from ear-to-ear and PROUDLY told me that the knife was some sort of military knife from WWII and that he knew a couple of guys he worked with that would be happy to give him $100 or so for it on Monday.

That right there speaks volumes about Jim and his character.

If you're like Jim, and you have no trouble morally taking advantage of some young boy (or grown man for that matter) and then want to pat yourself on the back about it, then you're an air waster and I have no use for you. I don't hate Jim (or others like him), but I sure as Hell don't respect the SOB. Have I met worse people? Yes-but I've always felt that if you lie, cheat, steal or are otherwise dishonest to someone else, eventually you'll lie, cheat or steal from me. And thus I have no use for you.

Jim is what I think of when I think of a lowballer. If you're like Jim, or wouldn't hesitate to behave like Jim, then God bless you. How you live with yourself is beyond me. It doesn't matter if you're cheating some kid, or cheating some down on his luck mechanic out of his tool box or tools.

Not to pat myself on the back, but I like to think that I take the high road. I would hope others here would do the same thing. Around Christmas of this year, I found a very collectable razor at a local antique mall. It was priced at $50. The owner of the booth happened to be there and I spoke to her about it. I was very upfront-I told her it was a collectable razor and that it was worth MUCH more than $50. I then offered to sell it for her and split the proceeds. She wouldn't hear of it-she said it was her mistake, she should have done her research and that I was welcome to it. She even offered to take less if I would purchase it then and there. Additionally, she thanked me PROFUSELY for being upfront and not trying to take advantage of her.

I'm no boy scout, but like to think that I don't or won't cheat, lowball or otherwise be dishonest towards someone-even if I can get away with it or if others who don't share my ethics think it's ok. I would hope others here would feel the same way.

It's America-be a lowballer if you want and you can look at yourself in the mirror afterwards. But don't expect my respect if you do or find it acceptable behavior in others.

FWIW. I'll climb off of my soapbox now. You lowballers reading this probably have someone you want to go cheat-I mean bargain with.



Beerman

 

[91bronc300]

I guess "lowballing" in some ways is in the eye of the beholder and aligns itself with one's moral compass.

What one individual would consider "lowballing" might be considered "gamesmanship" or "smart negotiation" or even "cheating" by someone else.

As an example, there's a guy I know from the local flea market that I see from time-to-time named Jim. Behind his back, he's known as "rip-off Jim". The joke is, Jim never met a man he was unwilling to try to cheat. One day, Jim was at my table and we were running our mouths and a 10-12 year old boy came up and offered to sell Jim a knife-a seller at another table pointed Jim out and told the boy that Jim collected knives. Jim took a look at the knife the boy had and asked how much? The boy said $10 or so (this has been around 8 years ago, so I don't remember the exact dollar figure). Jim talked him down a few bucks, the kid agreed and Jim handed him the money. As soon as the kid was out of earshot, Jim started grinning from ear-to-ear and PROUDLY told me that the knife was some sort of military knife from WWII and that he knew a couple of guys he worked with that would be happy to give him $100 or so for it on Monday.

That right there speaks volumes about Jim and his character.

If you're like Jim, and you have no trouble morally taking advantage of some young boy (or grown man for that matter) and then want to pat yourself on the back about it, then you're an air waster and I have no use for you. I don't hate Jim (or others like him), but I sure as Hell don't respect the SOB. Have I met worse people? Yes-but I've always felt that if you lie, cheat, steal or are otherwise dishonest to someone else, eventually you'll lie, cheat or steal from me. And thus I have no use for you.

Jim is what I think of when I think of a lowballer. If you're like Jim, or wouldn't hesitate to behave like Jim, then God bless you. How you live with yourself is beyond me. It doesn't matter if you're cheating some kid, or cheating some down on his luck mechanic out of his tool box or tools.

Not to pat myself on the back, but I like to think that I take the high road. I would hope others here would do the same thing. Around Christmas of this year, I found a very collectable razor at a local antique mall. It was priced at $50. The owner of the booth happened to be there and I spoke to her about it. I was very upfront-I told her it was a collectable razor and that it was worth MUCH more than $50. I then offered to sell it for her and split the proceeds. She wouldn't hear of it-she said it was her mistake, she should have done her research and that I was welcome to it. She even offered to take less if I would purchase it then and there. Additionally, she thanked me PROFUSELY for being upfront and not trying to take advantage of her.

I'm no boy scout, but like to think that I don't or won't cheat, lowball or otherwise be dishonest towards someone-even if I can get away with it or if others who don't share my ethics think it's ok. I would hope others here would feel the same way.

It's America-be a lowballer if you want and you can look at yourself in the mirror afterwards. But don't expect my respect if you do or find it acceptable behavior in others.

FWIW. I'll climb off of my soapbox now. You lowballers reading this probably have someone you want to go cheat-I mean bargain with.



Beerman

I like you

 

[Packard V8]

You lowballers reading this probably have someone you want to go cheat-

The vehemence of this thread does come as a surprise.

Just asking - how do those for whom it is a mortal sin/immoral act to make a offer at less than the asking price or less than what is perceived as fair market price then continue to share bandwidth here on GJ - the land of "You ****!"?

Hard bargaining and quick decision making isn't exactly new news on GJ. So why all the sudden scramble for the moral high ground? For anyone who may have joined yesterday, a quick search will come up with several years and several hundred posts where the high point of the week is sharing tales of bargains bought at what the member feels is much less than the going market and thereby being awarded the supreme accolade of "You ****!"

Each has his own moral code, his own religion, his own hereafter, his own kharma, Judging others is a slippery slope. Go in peace and travel safely.

jack vines

 

[pipsters]

Just because a seller doesn't do their research in pricing doesn't mean you are low balling them.

Also if the item isn't selling, just because you are offering less than what you think it's worth doesn't mean it's low balling. If the seller needs it gone, and accepts your lowball offer, there ain't nothing wrong with that. There is no gun to their head.

 

[91bronc300]

I don't think people are scrambling for the moral high ground. Selling on the secondary market is just a grey area and everybody has a different 'grey' that they consider the turning point of nice bargain into dishonest. For example, the guy who bought the toolbox for 600 instead of 1500. Nothing wrong with that. The last large item I sold on craigslist was an 18 foot flatbed trailer. Guy looked it over good then asked me what my absolute lowest price was. I told him, he made me a counter offer that was 200 lower. I accepted and was happy. The guy in beerman's post who bargains that kid down from 10 dollars for a 100 dollar knife operates in a grey area that beerman wouldn't do himself, and I wouldn't either. Everybody has their own grey area that is 'just too grey' and everybody's is different. If somebody's grey area cut off point is vastly different from mine then I may not like them and they may not like me either, but that's just life.

 

[0.511MeV]

Has anyone seen that tv show called Hoarders? I remember an episode that featured a gentleman that had filled his yard with scrap metal. He just had big rusty piles of metal everywhere. He seemed to think these piles would have value above and beyond scrap value. He was absolutely appalled when a scrap dealer gave him an estimate, based on scrap prices.

The gentleman felt he was lowballed.
The scrap dealer felt he was making a fair market value offer.

Was it a lowball or not?

 

[Lookin4'67Galaxieconv]

FWIW. I'll climb off of my soapbox now. You lowballers reading this probably have someone you want to go cheat-I mean bargain with.

Beerman

Yep, you may want to climb down out of the clouds before you fall on your *** and break your tailbone. To make the equivalent of anyone who makes a lowball offer to the guy who talked the kid down on the knife is disgusting.

Just asking - how do those for whom it is a mortal sin/immoral act to make a offer at less than the asking price or less than what is perceived as fair market price then continue to share bandwidth here on GJ - the land of "You ****!"?

Hard bargaining and quick decision making isn't exactly new news on GJ. So why all the sudden scramble for the moral high ground? For anyone who may have joined yesterday, a quick search will come up with several years and several hundred posts where the high point of the week is sharing tales of bargains bought at what the member feels is much less than the going market and thereby being awarded the supreme accolade of "You ****!"

Excellent point on the "you ****" posts, Jack.

 

[Hiball]

Low Ballers Dont bother Me, I fully understand that everyone wants to buy as much for there dollar as Possible. In the End the Power is still Mine and if i dont feel the offer is fair, Ill decline it politely and Move on.

 

[ajchien]

Robert Kobayashi, who has written many investment books, says that he uses the lowball often to find out who is really willing to deal. For example, when buying real estate, he would simply lowball offer on 20 properties at the same time. He would get out right rejected on 18 of them, but perhaps 2 would counteroffer. Those two counteroffers would be where the best deals were going to be. Conversely, he has said that there has been times he just wanted to dump a property and would seriously take any offer. Any at all.

I think the lowball is certainly an effective probing technique when you know there are many sellers and not many buyers. It's just used to find out if the seller is desperate. If you got a low ball offer accepted, it wasnt because you were a great negotiator, it's more likely that the seller really wanted to get rid of it.

 

[treasureseeker]

The term pops up all over the place, usually with negative connotation and most recently in the "What is this SK socket set worth?" thread.
I think it's an interesting topic and I can think of no better place to seek informed opinions than from the esteemed members here at GJ. I'd be interested in hearing a few definitions and then arguments (in a civil fashion, of course) for and against.
So, for those interested or those knowledgeable or having strong feelings on the subject; define and discuss lowballing.

With used Sk I don’t think the suggestions are low balling. I have a used SK 1955 set listed for half of what the lowest price new is selling for and no interest even with used just a few times. Used SK draws little interest until the price gets in the You **** range for the buyer.

The only great deal I can think of getting was getting was a $50 Maytag wrench for 50 cents at an estate sale but I purchased it hoping it was worth something. I have purchased at least a $100 of items that turned out to be worthless like that.

I thought low balling was the start of a negotiation where the seller counters with their offer on the way to hammering out a price.

 

[kxxr]

a 10-12 year old boy came up and offered to sell Jim a knife-a seller at another table pointed Jim out and told the boy that Jim collected knives. Jim took a look at the knife the boy had and asked how much? The boy said $10 or so (this has been around 8 years ago, so I don't remember the exact dollar figure). Jim talked him down a few bucks, the kid agreed and Jim handed him the money.

In this case, where one party is a minor, you have to wonder if the transaction was even legal. I know that isn't the point of the story, but you gotta wonder.

 

[Packard V8]

Originally Posted by Beerman View Post
a 10-12 year old boy came up and offered to sell Jim a knife-a seller at another table pointed Jim out and told the boy that Jim collected knives. Jim took a look at the knife the boy had and asked how much? The boy said $10 or so (this has been around 8 years ago, so I don't remember the exact dollar figure). Jim talked him down a few bucks, the kid agreed and Jim handed him the money.

Reductio ad absurdum is a mode of argumentation that seeks to establish a contention by deriving an absurdity from its denial, thus arguing that a thesis must be accepted because its rejection would be untenable.

Bottom line, trying to prove anyone making a lowball offer is the same as stealing money from a kid.

jack vines

 

[Lt CHEG]

An item is only worth what someone is willing to pay for it. You could be selling a car for let's say 10% under blue book value but that doesn't mean that you'll be able to sell it for that price. Any price guide or anything of that nature is only a guide. I've offered significantly less than what someone was asking for before, and I've offered less than so called "book value" on things before too. Sometimes my offer was accepted and sometimes it wasn't. I never took offense if my offer was rejected or if a counter offer was given. I've had people say, "Well this item is worth XYZ amount," and I've replied that XYZ may be the going market price but I'm unwilling to pay that price as I don't place as high a value on the item as the rest of the proverbial market. I don't see that as bad either, in fact I liken it to waiting for an item to go on sale in a store before purchasing it. For example, I might like a particular style of pants that are sold at a certain price every day, but I might not like them enough to pay full price. If they go on sale I might be willing to buy them, but not unless they go on sale. In fact that's pretty much how I buy my suits, I wait for them to go on sale at one of the outlet stores. I've got a bunch of Armani, Brooks Brothers and other designer suits that I've bought at huge discounts. I've never felt like I've taken advantage of the retailers because I've bought most of them at 25% or less of their retail price. I've always just felt like I purchased them at the price that I was willing to pay.

 

[kxxr]

Reductio ad absurdum is a mode of argumentation that seeks to establish a contention by deriving an absurdity from its denial, thus arguing that a thesis must be accepted because its rejection would be untenable.

Bottom line, trying to prove anyone making a lowball offer is the same as stealing money from a kid.

jack vines

'cept it ain't illegal between consenting adults

 

[oilslick]

I am interested in a commercial prop. listed @295K I believe it is overpriced but still want it! I want to submit a written offer of 100k but think this will end any chance of buying it 2yrs from now when it is still for sale and finally priced closer to actual value, whats your opinions?

 

[pcpro15]

Low Ballers Dont bother Me, I fully understand that everyone wants to buy as much for there dollar as Possible. In the End the Power is still Mine and if i dont feel the offer is fair, Ill decline it politely and Move on.

Just the way it should be You the man

 

[Lookin4'67Galaxieconv]

I am interested in a commercial prop. listed @295K I believe it is overpriced but still want it! I want to submit a written offer of 100k but think this will end any chance of buying it 2yrs from now when it is still for sale and finally priced closer to actual value, whats your opinions?

Why?

 

[housey]

I don't see a problem with low balling, provided its not on an item where the seller has listed the price as firm or non negotiable, and provided the buyer/seller doesn't try to decieve the other person into thinking an item is worth less or more than it is. At the end of the day the seller has the power to say yes or no to an offer. It doesn't cost you anything to recieve an offer, so even if its a ****** offer its better than nothing at all.

Heres another moral conundrum, do you think its fair when a seller lists an item at a price, and then goes back on that offer and jacks the price up?

Around 18 months ago I sold my car, an ae86 corolla. I had only paid $1100 for it around 3 years prior, so I put it up for sale at $900 on a car forum without even checking the prices. Unbeknownst to me in that time the car had appeared in a certain japanese cartoon, and examples similar to mine were going for upwards of $4000. I had about 8 offers to buy it when I checked my ad the next day, so I adjusted my price to include the "takumi tax" and sold it 5 days later for $3450.

Prior to sale, I offered it at this price to the bloke who had been the first to respond to my advert and he was not happy at all, explaining that it was his god-given right to purchase an item at the price it has been advertised for, and that it was a **** move to up your price no matter how undervalued you have put it at. I replied with something like "I'm sorry for getting you excited at the prospect of making money at the expense of myself now kindly f$%# off" and he got real ****** and sent me a bunch of angry messages and texts and I'm pretty sure he egged my house.

I feel that just as buyers can offer less than the original asking price, sellers can increase there price if they feel they can get more for the item. For some reason its seen as less acceptable than it is for a buyer to make a lower offer on an item though