It's interesting to hear about the many superfluous aspects of a transaction people concern themselves with. There are only two things to consider in a business transaction: the value of item being traded and the compensation offered for it.
Enjoy the benefits of a premium membership!
Upgrade Account
-
TalkBass has been independent since 1998. Add your voice.
Create a free account to reply to discussions, view embedded media, and browse with fewer display ads.
Join free Log in
Want zero display ads or expanded classifieds tools? Compare plans.
At what point is it lowballing. A poll.
- Thread starter TheReceder
- Start date
-
- Tags
- lowball
I totally get the aversion to negotiation.
Sure, there are always other buyers, whether it's one you may never make contact with or 1,000 beating down your door.
Most of the gear I buy is rare. Not necessarily collectible/expensive, just uncommon. Not too long ago, an unusual speaker cabinet came up for sale in a not-too-horribly distant city. I knew this cabinet existed but had never seen one for sale (I scan Reverb, Guitar Center Used, Craigslist etc daily). I don't look at this town's CL very often and, as it turns out, the cabinet had been for sale for some time with zero interest. The seller was asking $300. I would have gladly paid $400. I made an offer and a deal was made. If fate had landed another must-have buyer in the mix, the seller could have easily gotten twice what I paid. What would this seller have gained by ignoring anyone? So keep in mind that the price paid for an item can be negotiated to be HIGHER than the asking price.
Ignoring potential buyers is certainly the prerogative of the seller. And it may not always negatively affect the sales effort. It's just one of many possible actions to which there is no benefit.
Confession: If the asking price suits me, I pay it without any effort to negotiate.
Understandable, I should have been more clear.
In my first post I'd commented that "I've made offers as low as 60% below asking price". I should have worded it like that in the poll.
It's probably just a personal quirk, but I don't haggle. By the time I put something up for sale, I know what the market says it should sell for. I've done the research and in some cases have even had the item appraised. I'm not looking to make more than what it's worth. That's what guitar stores are for.
That said, I have been known to offer a lower price if I know the instrument is going to go to a good home and it's something that will be beneficial to the person buying it. I'm one of those people that someone said has too much personal investment in the guitar, but that's probably because I don't buy something I'd turn around and sell the next day. I do have a personal investment in each guitar I've purchased.
If I'm buying something, I don't haggle. Again, I'll do the research, find out what it is worth, and look for a listing that gets as close to what the value of the item is and that I am willing to pay. If someone wants to list something for more than it's worth and haggle, that's fine. I won't be the one buying it. I value your and especially my time too much to do that.
That said, I have been known to offer a lower price if I know the instrument is going to go to a good home and it's something that will be beneficial to the person buying it. I'm one of those people that someone said has too much personal investment in the guitar, but that's probably because I don't buy something I'd turn around and sell the next day. I do have a personal investment in each guitar I've purchased.
If I'm buying something, I don't haggle. Again, I'll do the research, find out what it is worth, and look for a listing that gets as close to what the value of the item is and that I am willing to pay. If someone wants to list something for more than it's worth and haggle, that's fine. I won't be the one buying it. I value your and especially my time too much to do that.
I believe that most folks that sell stuff on the internet or that sell second hand stuff at all, expect to haggle. To some it's part of the fun of the interaction. I have posted listings where I literally challenge the potential buyer to use the opportunity when contacting me, to practice their haggling skills.
There is nothing wrong with making any offer as long as the seller has not explicitly stated that their price is firm and they will not entertain offers.
It can be a waste of time if your offer is not informed. You do run the risk ticking off the seller, as this thread thoroughly illustrates. So make it count!
Sellers, try not to let low or misguided offers bother you... I once had a shopper offer me 50% of my asking price for just one of a matched pair of doodads I had for sale, even though I clearly stated in my ad that I would not separate them. I didn't freak out... I simply told the guy that I would sell him one at 90% of my asking price and then I would throw the other one in for free and made the sale! Win/win.
There is nothing wrong with making any offer as long as the seller has not explicitly stated that their price is firm and they will not entertain offers.
It can be a waste of time if your offer is not informed. You do run the risk ticking off the seller, as this thread thoroughly illustrates. So make it count!
Sellers, try not to let low or misguided offers bother you... I once had a shopper offer me 50% of my asking price for just one of a matched pair of doodads I had for sale, even though I clearly stated in my ad that I would not separate them. I didn't freak out... I simply told the guy that I would sell him one at 90% of my asking price and then I would throw the other one in for free and made the sale! Win/win.
About the only thing I consider lowballing is when someone says they'll give me twenty bucks for a five hundred dollar item and the offer is only good for the next hour. While I would love to blow them off i just thank them for their offer and decline. If someone makes a realistic offer that's within reasonable haggle range I'll make a counter offer. Before I list something I've already decided what my bottom dollar is but I only go there if the ad is getting stale with not a lot of interest.
What I do get frustrated with are buyers who open with "what's your bottom dollar" or "What will you take for it". All my adds clearly state the price is firm or I'm open to offers and I always list a price. If someone can't muster the castanets to make an offer, or wants to beat around the bush I just tell them (politely), I'm selling the thing, they surely can't expect me to negotiate with myself and buy it for them as well.
Last, and I've learned this the hard way, if you can't list something without getting butthurt over a low offer, you should wait until you can divorce yourself emotionally from the inanimate object you are trying to move. If you find that to be impossible don't try to sell it as you will only wind up wrenching your knee kicking yourself in the butt, even if you get what you're asking.
What I do get frustrated with are buyers who open with "what's your bottom dollar" or "What will you take for it". All my adds clearly state the price is firm or I'm open to offers and I always list a price. If someone can't muster the castanets to make an offer, or wants to beat around the bush I just tell them (politely), I'm selling the thing, they surely can't expect me to negotiate with myself and buy it for them as well.
Last, and I've learned this the hard way, if you can't list something without getting butthurt over a low offer, you should wait until you can divorce yourself emotionally from the inanimate object you are trying to move. If you find that to be impossible don't try to sell it as you will only wind up wrenching your knee kicking yourself in the butt, even if you get what you're asking.
I think it depends on the item % less on a $20 dollar item as opposed to % less on a $5000.00
I always provide examples when I make what could be considered a "low ball" offer.
Every bit of this ^ . I got better things to do than argue over a couple of bux. Nor was I the type that would go anywhere near a shopping center on Black Friday, pre internet or post.
Any time.Bolded answer below is gold
Mind if I borrow that reply sometime??
To clarify, I'm talking about asking after I've actually looked the item over in person. I rarely buy used gear unless I've checked it out first.Bolded answer below is gold
I don't reply to ads by asking up front. That is silly, I agree.
Offer me whatever you want. I'll either give you a yes, a no or a counter offer.
I don't mind low-ball offers one bit.
As a general guideline I would say 25% off is the start of low-ball territory. But there are so many variables. I generally do some research and come up with what I would be willing to pay. Then I offer about 10% less expecting to negotiate.
As for those who take offense, I feel you are wasting time and energy on a non-issue.
I don't mind low-ball offers one bit.
As a general guideline I would say 25% off is the start of low-ball territory. But there are so many variables. I generally do some research and come up with what I would be willing to pay. Then I offer about 10% less expecting to negotiate.
As for those who take offense, I feel you are wasting time and energy on a non-issue.
This is a little bit annoying to hear as a seller... it's a typical negotiating tactic to make the other party start the ball rolling but you are skipping ahead, in most cases there has already been an offer of price in the listing.
Once you've considered the seller's item and listed price, it is now your turn to come up with an offer.
When I get hit with this one, I usually reply, "I haven't decided yet... what would you like to offer?".
I don't negotiate. Buying or selling I state a reasonable price and it's either yes or no. I rarely hear "No."
I admit I don't like haggling so when I sell I price things fairly and accept only full offers. I say "firm." They are priced well so the items move but what irks me is even if I put "firm," people will still offer lowballs. I've come to the conclusion that while just about everyone wants a sweet deal, some people want something for nothing and don't respect the process or the people involved in the process. Real @@$%#@'s and "lowballing" is an indicator I'm about to deal with one.
In the past, I've had people agree on a price and then when they arrive to pick it up say "I only have $___", less than the agreed upon price. These were the naive days when you brought a stranger into your home. I could tell him (it was always a him in my cases), "sorry, no deal" or accept the $20 or whatever less that he was offering. It was an irritant. In today's times, where we do deals like this in public, this is a major waste of time and feels downright dangerous.
I know this is about percent off asking price but buying/selling is complicated. Firm should mean firm but apparently to some people that's acting "butthurt."
In the past, I've had people agree on a price and then when they arrive to pick it up say "I only have $___", less than the agreed upon price. These were the naive days when you brought a stranger into your home. I could tell him (it was always a him in my cases), "sorry, no deal" or accept the $20 or whatever less that he was offering. It was an irritant. In today's times, where we do deals like this in public, this is a major waste of time and feels downright dangerous.
I know this is about percent off asking price but buying/selling is complicated. Firm should mean firm but apparently to some people that's acting "butthurt."
I see what you are saying but would you consider asking someone what their best price is lowballing ?
Me, personally... I'd rather you made an offer, even a low one, as opposed to having you ask me what my best price is. The actual best price is a moving target that depends on the present circumstances and also the credibility of the buyer.
Again, it's just a bit annoying that you wanna know my best price... without revealing how much you are willing to pay. You're obviously afraid that my best price might be less than your best price and you're hoping to eek every penny out of the deal. In my for sale ads, I've made my assessment and listed the starting price for the haggling to begin... I almost always invite offers. If you are interested in buying... have the nerve to actually make the next move, and include your own offer.
That said, I would never freak out or get bent out of shape at all... I would just throw it back on you.
I know... I know... if you make your own personal low end offer you may run the risk fo getting run off by a seller who thinks you're lowballing... this wouldn't really matter to me though. If I've made an honest offer and it was rejected or taken as some kind of insult, no big deal. Everyone will get over it and life will go on.
I always offer a little less and it almost always works. When I list my stuff, I’m pretty firm because I know the value.
I’ve walked into situations and shown the money and it hard for people to turn it down. I had one guy who was pissed at me for my offer because it was half what he was asking, but he still took it. My price was realistic and his wasn’t
What bugs me is when someone wants my gear but then wants a cord or a strap thrown in. That’s when I tell them buy it or beat it
I’ve walked into situations and shown the money and it hard for people to turn it down. I had one guy who was pissed at me for my offer because it was half what he was asking, but he still took it. My price was realistic and his wasn’t
What bugs me is when someone wants my gear but then wants a cord or a strap thrown in. That’s when I tell them buy it or beat it
