I always reply with something or a counter. If its the first day I have had something listed, I tell them no but will keep them in mind. Never burn a bridge.
If people would not start out at the premium price, only the lowest they will take, this would not be a factor.
Low ball offers are to try to find out what you would really take for something, not the bonus someone might give. I would suspect the used car dealers type attitude started all this. Usually when I get ready to sell something, I decide a price, mark it up for negotiation, and then advertise it. It seems to be the American way.
If you price your item at a fair price and do not negotiate, many people will not purchase, no mater how good a deal it is. I have tried this and been told that they are not purchasing unless I go down on my price. I am already 20% below market value to move it. Sorry, I will wait for someone else who is interested.
It seems some people are more interested in negotiating than realizing they are getting a bargain to start out with. Go Figure.
If it is an item I need and priced right, I purchase it. If I feel it it is not priced right, I feel someone really wants to rip me off, but I will try to negotiate to see what the real price is that he is willing to take vs what I am willing to give.
If you have an excess and are trying to sell $20 bills for $22, I might try to "low ball" to try to negotiate. If you really have an excess and want to get rid of them, I will offer $18. I send an email offer, Yes/No, please respond. and if /No, I might reconsider my offer and might bump it up to $19 to help you out with your excess problem. I already have a lot of 20's, but if I can find a bargain, I can add to my collection. Otherwise, I will pass. The American way.
This is also why when I advertise something or see something advertised as $X firm. I consider that the price. If they might take 1% less, they missed a sale or purchase with me. Firm to me means, that's it, take it or leave it. Make a decision, the American way.
I would suggest if you want to advertise something and have a price you will not go below, advertise it at that price and use the word "firm", which in some worlds means "not open to negotiation" or if that word is not there and if I might have some interest, expect me to try to find out what that low number really is. My American way.
Unfortunately some people would like to sell something in excess of the value of what is perceived as the open market to help their situation. In reality they need to turn it, no longer need it, are tired of it. Somehow they have to find out what the market value is for the seller vs the buyer. They put out their $20 bills out at $22, someone might bite on what your $20 silver certificates are worth. Ya never know.
If I throw out a Low Ball, I expect to hear from you. Yes/No, Kiss my Ass, or you are close, can't quite take that, but how about $19.55?
do you guys respond to them?
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