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When Is A "Best Offer" Too Low?

 
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2505 Posts
 Posted 04/19/2017  4:07 pm Show Profile   Check BigSilver's eBay Listings Bookmark this topic Add BigSilver to your friends list Get a Link to this Message
Poll Question
This question may have been asked here before, but I haven't seen it. On eBay- the BIN listing option has a best offer feature that sellers can elect to include as an option.
The seller can set auto decline for any offer that is below a stated threshold and an auto accept for offers that exceed a stated threshold. They can also opt to manually reply to each and every offer no matter how low or high.
Now that I have given the basic rules of best offers, here is the question:
Is there a level at which an offer is considered rude, or offensive? Such as a $1 offer on an item that the seller is requesting $100.
Please pick which reply best fits you, or reply with more options that I will add to the poll.

Poll Choices
  A buyer can offer any amount. Just decline if you don't like it.
  Anything less than 60% of the asking price is offensive.
  Anything less than 50% of the asking price is offensive.
  Anything less than 40% of the asking price is offensive.
  I don't think the asking price matters at all. FMV is more important.

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 Posted 04/19/2017  4:34 pm  Show Profile   Bookmark this reply Add Mark1959 to your friends list Get a Link to this Reply
I get alot of offers that are 50% what I was asking and to avoid wasting my time anymore I just set up the automatic decline feature.
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United Kingdom
221 Posts
 Posted 04/19/2017  4:35 pm  Show Profile   Bookmark this reply Add TobyJ to your friends list Get a Link to this Reply
Very interesting question. Thought I'd chip in if I may...

I think it depends entirely on the item. But lets say its a fairly common 19th century shilling, that in VF might catalogue at about $40. If the buyer has it on at $80 or best offer, and there's nothing much special about the coin to make it any different to the others, I might start with a $30 offer, which I don't think would be too rude in this instance. The buyer might counteroffer $60, and we may well end up at around $40 to $50.

It depends entirely on the seller, whether they think it is rude or not. I won't mention the item... but yesterday I saw an item had been listed for 3000 or best offer, but they stated that they hadn't seen another item like it to compare it to so they had just put an inflated value on. I asked them in a message what they would realistically take, and they said about 900 might sway them! A quick and huge drop there.

As a seller myself, I try not to ask for ridiculous prices. If I have a best offer option, it means that there may be some drop in the price, but nothing huge. I think offering 10 for a 100 item is rude, but again, it depends on the item and the seller. Sorry for rambling! :)
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 Posted 04/19/2017  4:56 pm  Show Profile   Bookmark this reply Add crazyglue to your friends list Get a Link to this Reply


I try not to make ridiculous offers, but I would not find it offensive, as a buyer or a seller.


I will set my auto decline to the lowest point I will consider and then will entertain anything above that.

If I do not want offers, I should not put it as "best offer" allowed.


When I get a truly ridiculous offer on something I am selling, I don't get offended. I hit decline. Takes me about two seconds on my phone or laptop.
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 Posted 04/19/2017  6:05 pm  Show Profile   Check Andrew99's eBay Listings Bookmark this reply Add Andrew99 to your friends list Get a Link to this Reply
I no longer list with Best Offer. I used to, them I was getting ridiculous offers. When I declined them, I was getting arguments about why the coin should sell for this or that. I know have in every listing "if it doesn't say or Best Offer, do not message me with Best Offers."
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 Posted 04/19/2017  6:21 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Just use auto decline ......that is the most courteous way to deal with time wasting" Ebidiots" of whom there are many.
There are lots of buyers on eBay who bottom feed and Troll thus annoying honest sellers .
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 Posted 04/19/2017  6:25 pm  Show Profile   Bookmark this reply Add Coconutjoe to your friends list Get a Link to this Reply
Auto decline works great. Although some sellers will over price an item way too much, expect to give hefty discount to begin with.
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 Posted 04/19/2017  6:44 pm  Show Profile   Bookmark this reply Add kanga to your friends list Get a Link to this Reply
If I'm using Best Offer I list items at retail and set the BO to wholesale (greysheet or auction results).
Describe it as if there were no picture.
Picture it as if there were no description.
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3049 Posts
 Posted 04/20/2017  12:41 pm  Show Profile   Bookmark this reply Add AgCoinAu to your friends list Get a Link to this Reply
I'm not sure why the word "offensive" is being used....

They're not saying anything bad about you, your family or even the product...

I suppose the only thing you may get offended at is the time it takes for you to address such an offer.....

Perhaps I'm a bit nieve, because I don't really sell coins... on eBay or any other platform .... yet...

I just don't get the offensive part....
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 Posted 04/20/2017  1:03 pm  Show Profile   Check BigSilver's eBay Listings Bookmark this reply Add BigSilver to your friends list Get a Link to this Reply
Thank you everyone for your opinions.
I will add the case in point as an example. I have listed on eBay a rare civil war token. It is graded by NGC MS64 and is an R7 rarity.
I feel that $365 is a very reasonable price, considering and would entertain any offer that would earn me a profit return on my investment. (Sorry, but I am not disclosing the number).
I received an offer for $50. I understand that values are not so established in the CWT market as they are in the coin market, but $50 is obviously too low a price for such an item.
I am not upset, nor even annoyed about it, made me laugh actually. just wanted to gather opinions from others about this.
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 Posted 04/20/2017  1:33 pm  Show Profile   Bookmark this reply Add CLS12 to your friends list Get a Link to this Reply
I don't have a ton of experience as a seller, but I've had some items get a low ball bid for example.. listed $120 retail.. I'd take as low as $100 and get a $50 offer.. I counter $115 and the buyer pays.. I never expected them to accept.. I find that this "negotiating" method sort of gives the buyer a chance to feel out what your response is and then 2nd offer is more serious. Auto reject will just make them up it from $50 to 60 for 2nd offer and then 60 to 70 before they run out of offers.
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 Posted 04/20/2017  2:06 pm  Show Profile   Check Mister Kairu's eBay Listings Bookmark this reply Add Mister Kairu to your friends list Get a Link to this Reply
I don't find offensive those offers for like $1 since I just refuse them and counteroffer. Also because I have from time to time been that guy that lowballed offers because you never know what sellers have as their "auto accept" amount and have gotten a deal or two before...
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 Posted 04/21/2017  8:23 pm  Show Profile   Check John77's eBay Listings Bookmark this reply Add John77 to your friends list Get a Link to this Reply
As a general rule of thumb, for non-damaged and non-cleaned coins, and coins which are graded correctly, anything under 70% of the asking price is usually too low for a Best Offer. I really wish eBay had a feature where you could have all offers below a certain percentage of your asking price rejected automatically.

As a seller, it is EXTREMELY frustrating to deal with buyers who either
a) want to get something for nothing.
or
b) think you're stupid and are desperate to sell an item.

To discourage this behavior, I've put verbiage on my coins under my terms and conditions which states that any offers below 70% of my asking price on non-silver coins, and any offers below the spot price of silver will be rejected.

While the above has helped discourage this sort of behavior, I still sometimes get ridiculous offers such as $2 for an $9 coin which I'm selling for $8, and other similar stuff.

Another thing which this kind of predatorial type of buyer likes to also do is make ridiculous "lowball" offers in the final 24 hours of a listing... as if I'm desperate to sell the coin or something... those just get ignored... to end this practice, it's not uncommon for me to end an item that is being "watched" a day or two before the end of the 30 day listing period and then just re-list it at a slightly higher price.

I've also blocked several buyers who have made repeated "lowball" offers on my items.




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Edited by John77
04/21/2017 8:27 pm
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 Posted 04/21/2017  8:26 pm  Show Profile   Check John77's eBay Listings Bookmark this reply Add John77 to your friends list Get a Link to this Reply

Quote:
Just use auto decline ......that is the most courteous way to deal with time wasting" Ebidiots" of whom there are many.
There are lots of buyers on eBay who bottom feed and Troll thus annoying honest sellers .


eBidiots... I LOVE that one! Thanks, Pacificoin!
CRH Nickeloholic. On the way to 1,000,000 nickels searched in two years! Already have found TWO complete Jefferson sets over that time!
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126 Posts
 Posted 05/11/2017  08:18 am  Show Profile   Bookmark this reply Add MerlinAurelius to your friends list Get a Link to this Reply
I like what John77 has to say. I do not offer Best Offers anymore except of items I am looking to sell below cost. Any offer less than the cost of the item is too low IMHO.
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 Posted 07/01/2017  09:40 am  Show Profile   Bookmark this reply Add jmkendall to your friends list Get a Link to this Reply
I only use a "best offer" on items that I'm willing to take a small loss on. I price those on the low end of the sold items range. In no case will I discount the item more than 25 percent. As stated my prices are low enough to begin with.
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