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Lowball: How much is too much?

#125
As a seller I don’t think in terms of lowball. To me any offer is opening a negotiation. If the offer is too low to be realistically countered, I thank them for their interest and tell them we are too far apart so any further discussion would be pointless.
If they don’t disappear, the typical response is, What’s the least you’ll take or what’s your best price. My reply is I cannot sell my item and buy it with your money. If you want to make a more realistic offer, please feel free to do so. Sometimes it works and sometimes not, but it works often enough to give it a shot.
As a buyer i do my research and decide what a reasonable offer would be for an as new example, then go look and adjust that number based on wear, function, and rarity. I usually cut that number a little so I can counter if my first offer is refused. Often times a seller who believes they have out negotiated me will take less than I’m willing to give simply because they believe they bested me in the negotiation, which is why I usually add a little to my asking price so I can get talked down.
Buying and selling of wanted items is a game of allowing the other party to the transaction to feel like they’ve “won”. Buying needed items is much simpler, shop for the best balance between price and reliability of your seller.
 
#126
I think the lowball threshold is dependent on how much the original ask is. If I see something listed locally for $20 and I offer $10, I don’t see that as a lowball since the original amount is not that much. But if I offer $100 for something that’s listed for $200, that’s worse.
 
#127
I have sold stuff on Craigslist and FB Marketplace for many years, and even sold items in a local sales publication called Pennypower before the internet was a thing. Lowballing has been around a long time. I am one of those people that I will research things before I set a price on anything I'm selling. I will then set a price that is more than fair for the item and always add the following to every posting:

Price is firm. Cash sale only. No trades.

Even with that, I will still get people lowballing, offering trades or asking if I will take a personal check.

When it comes to buying from an individual, depending on the item and what the going rate for said item is, I will likely pay their asking price, unless they are asking way too much for what they are selling. Music stores I will try to get them to give me an out the door price for what I can get it online for. Pawn shops? I know those folks got the instrument for what amounts to highway robbery, so I will lowball them over and over again to get to a price I am willing to pay for whatever it is they have.

When I bought my '74 Fender Bassman 50 with the matching 2x15" cab from a guy on FB Marketplace, I never hesitated to pay the $500 the guy was asking. I still feel like I stole it from him.

When I bought my '74 Ric from a pawn shop? Fortunately, they had realized they were asking too much for it to move it at $5500. The morning I went in there, they had already marked it down to $3500. I offered them $3000 out the door. They came back with $3200. For the record, I was more than willing to pay them $3500 out the door for the bass, but wasn't going to give them the satisfaction of not haggling with them over it. I walked out with it for the $3200 with the case and even a Shure SM58 mic that was in the case.

All of that said to say that lowballing has been around a long time, but it definitely seems to be happening a LOT more than it used to happen. I know people that intentionally inflate their prices so that when an offer comes at a lower price, they still might be able to negotiate the price they REALLY want for the item.
 
#128
If I’m willing to go and look at something, it’s already priced fairly. I always do my homework and in the case of a bass purchase, if the seller hasn’t bothered to set it up well, dead strings etc, then I use that as a bargaining tool. You’re taking a chance when you see a huge bow in the neck or nut slots to high / fret sprout. I start taking money off their price based on the money I may have to spend getting it playable. It’s their fault for a crappy presentation. I always offer less and they always take it. OTOH, when I’m selling I don’t budge, and they never walk. But I’m always priced fair and my presentation is always great.
I’ve always been amazed at how a person will always take my offer. One time I made an offer on the spot for an entire rig for about 60% of his asking price ( he was out to lunch). He wasn’t happy but he took the money. That’s capitalism- it’s called negotiating.
 
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#129
davec said:
At what point is an offer an insult?
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If you're wise you'll leave the entire notion of “insult” along with your ego out of your business dealings. Allowing someone to push your buttons gains you zero benefits when negotiating.

Just view offers as either being acceptable or declined and you'll save yourself a world of aggravation getting into pointless exchanges with someone over a sale that isn't going to happen anyway.
 
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#130
JC BASS 91 said:
All of that said to say that lowballing has been around a long time, but it definitely seems to be happening a LOT more than it used to happen. I know people that intentionally inflate their prices so that when an offer comes at a lower price, they still might be able to negotiate the price they REALLY want for the item.
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That's the real problem with BSing. It inevitably leads to an arms race over who can tell a bigger lie. :laugh:
 
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#131
el murdoque said:
Lowballing is a form of art.
You need to deliver an offer that is way below the asking price AND make people want to accept that at the same time, within a few lines of text.
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A little story justifying a lowball offer guarantees I will not reply. I don’t care why you lack the funds to pay me a fair price, we’re not friends.
 
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#132
smogg said:
I agree. I expect to barter whether buying or selling. I've never paid asking price for a car why would I do it for a bass or amp? But then again I am a bit old school.
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My economics teacher taught me this is high school. He was also a business owner. He said that if you ask for a deal on everything- I mean everything… he said 90% of the time you’ll get it. That is the best thing I learned in school and has saved me a ton of money over the years
 
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#133
Just the other day I bought a used bass locally. I spent a lot of time examining the bass ( it was a signature model I wasn’t familiar with). I felt he was 10% more than I wanted to pay. I asked him “ what do you need to get out of this?” He said the number I had in mind. Deal. Everyone was happy.
As a seller - if I know someone is driving out two hours to look at an item, I know he isn’t leaving without it. If has asks for a deal, a firm no is in order. There is some psychology to this as well.
 
#134
Muttleybass said:
I have never been one to put "OBO" after anything I'm selling. I put what I feel is a decent price and see what happens. IMO, OBO just means you're not going to get what you want.

I don't get insulted anymore by lowballers. Annoyed, maybe, but not insulted. I'll usually respond by taking $5 off the price of a $500 item. (No, I won't take $200, but I'll take $495)

The reason people make low ball offers is because, like a spam email, you never know if it might work. I've heard of people getting ridiculous deals by low balling.
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#135
Muttleybass said:
I have never been one to put "OBO" after anything I'm selling. I put what I feel is a decent price and see what happens. IMO, OBO just means you're not going to get what you want.

I don't get insulted anymore by lowballers. Annoyed, maybe, but not insulted. I'll usually respond by taking $5 off the price of a $500 item. (No, I won't take $200, but I'll take $495)

The reason people make low ball offers is because, like a spam email, you never know if it might work. I've heard of people getting ridiculous deals by low balling.
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I once went to look at a Mesa walkabout combo locally; he was asking $500CAN- it was mint. I actually told the guy you could get more you know… he said I realize that and I don’t care; I don’t want it in my house a second longer. I said ok lol
The same thing happened last year when I did a task for my neighbor. She asked me if I drank scotch; I said yes. She said “ I have a bottle in the garage I’ll give to you because I don’t “
She brings out a 21 year old bottle of Balvenie worth over $500 CAN. In good conscience I asked her “ do you know what that is worth?” She had no idea- I told her and she gave it to me anyways. I guess my point is, I only like to make deals where everyone walks away happy.
 
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#137
There are people who sit in their parents basement and send out half-price offers on gear and if the seller said yes, they'd be hard pressed to come up with that much cash. ... Someone saying, "You're asking too much." without coming up with a counter offer annoys me the most. It's not up to the seller to come down to a price the buyer can afford. ...
At the moment I have a 72 Jazz for sale for $5000 and one guy offered $3000 because that's all he could afford. I get that, I wasn't insulted, I declined and I told him, "If I found this bass for $3000 I'd buy it."
I never add OBO to a listing, you're asking for trouble.
 
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#138
Gorn said:
Any offer is less insulting than "what's your best price", IMO.
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One time, I was visiting my parents while on leave in the Marine Corps. I needed a car, and their neighbor had a Suburban for sale, $4000 OBO. I went to the door, and spoke with the owner. I explained my situation, and told them I don't the time or desire to do a proper negotiation, so could you please just tell me your lowest acceptable price, and I'll pay it. They gave me the number (I forget if it was $3400 or $3600), and I paid it. I didn't get the sense they were insulted.
 
#139
Sometimes when I'm buying strings online, I'll make a low offer, along with the comment, "If you can accept this price for these strings, I'll buy five sets of them." That has always prompted a response, usually with a counter that is close enough to my price that I'll do the deal.
 

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