Dunno. Best offer (to me) always meant: "Give me your best offer. I'm not interested in haggling over or discussing things.Whoever made me the best offer once the the bidding window closes gets it for whatever they offered."
What that usually means, in practice, is that if the buy price is stated as $500 OBO, then that $500 is expected (or hoped) to be the lowball price. So you'll need to bid
above - but still want to stay as close as possible - to $500 if you expect to nail it. In short, it's basically an invitation to submit a sealed bid
above the asking price. It is
not the same thing as saying: "make me an offer."
In some ways it's similar to a "reserve" price at an auction where the item will be withdrawn from sale if the reserve price (minimum bid amount) isn't met.
OBO is a little different in that it means (or should mean since it's a term commonly misunderstood by many sellers) that the item will
still be sold for the highest bid received
regardless of how low it might end up being relative to the asking price. This is sometimes a requirement at sales/auctions that don't allow a seller to set a reserve price.
So in this case I wouldn't expect to hear from the seller until the bidding closes. And I'd only expect to hear from him or her if I successfully made the best offer.
But it doesn't really make sense in real time...
You're correct. But that's because OBO isn't a real time sales strategy. It's for someone who absolutely intends or needs to sell something, but is willing to gamble a little by playing the waiting game.
