What does "OBO: or best offer" mean to you?

Had a random discussion with a fellow Taco owner and talked about how it's a pain in the ass to sell a vehicle. So many lowballs and crappy trades. One buyer was even offended about not getting 15% off of the posted price and "OBO" meant the buyer's best offer should be accepted.

 

Some people are just stupid.

 

What he said^

 

A mandatory best offer acceptance is called an unreserved auction. Anything else is a negotiation.

 

It means to me that the seller will accept the best offer from any potential buyers that are interested, as long as the seller likes the number they see. I stopped adding OBO to any ads I post, but I don't add "firm on price" either. It's implied that the buyer can negotiate if want, but don't have to. I generally post fair prices on things because negotiating is a hassle.

 

15% can be pretty huge depending on the price of the sale so I can see where he could have been offended.

I use a rule of thumb when buying used, take off $1000 from their price if it is a nice vehicle, $500 if it is old. Negotiate from there.

 

Has anyone ever considered that best offer could also mean above asking? If two people contact the seller could he not say to each "There's another guy" and one of them perhaps offer asking + 5%? Wouldn't that now be the best offer? This happens in hot real estate markets.

It's always implied that OBO means taking less than asking but it could also mean that even if you offer the asking that it's not a guarantee of a transaction.

 

Nobody knows what the best offer made is, so.. can't fault them for lowballing.

For all they know, their offering you $50 for your $100 item is the best offer.

I always list price with room to lose, and my selling price is often what my offers are. Some people are definitely dumb, but some know what it's worth in real life and they have the money to buy (not just time to waste) and it always works out great.

 

Selling items on Craigslist I often say "asking $xx.xx or reasonable offer", where $xx.xx is more than I expect to get.

Sold this for $50.00 to the first interested buyer, he thought he got a deal, and I got a bit more than I expected to get for a 20+ year-old turntable that cost $109.00 new...

 

I always use the term in buying or selling as an open offer to negotiate. Basically meaning that we will negotiate to get the best acceptable price for both parties.

Lowballers that haven't even put their hands on what I'm selling don't even get a return email/text/call.

 

In my eyes OBO opens the door to the negotiation room. If both parties are serious about making the deal happen then a middle ground can and will be found. If a seller listed an item as OBO and refuses to negotiate I walk unless the asking price is fair to begin with.

 

As a buyer I usually think maybe a certain reasonable percentage can be chopped off the asking.

As a seller it usually means every low baller in a three state area is going to come out of the woodwork and think OBO means it's 50-70% off.

 

Obo isn't necessary a group of people making g offers.

Obo in my opinion means I'll negotiate. You on your part make a reasonable best offer and go from there.

Craigslist turned in to this dumb shit with this. You ask them what is the asking price they just say what's your best offer. Screw that.

 

More than just sum.

 

In AZTW the rule is half of asking price plus $20 (@4Running Daily rule). Example.
Asking price for a well used doll @MaverickTRD $200.
Buyer @Brian007Taco offers (200÷2+20=$120)

That's how we do it in the wild wild west.

 

So, is @MaverickTRD the well used doll? Or selling the well used doll? And what is @Brian007Taco planning on doing to @MaverickTRD if he is the doll? This is all very disturbing.

 

I've never had any problem with using OBO/firm to let people know how willing I am to negotiate a price.

Semi-related though, my biggest beef with negotiation is people who believe that ghosting on electronic communications is an acceptable negotiation tactic for a reasonable offer. No, it just makes you a clueless dingleberry who doesn't know how to negotiate. It's not at all like a face to face "walk to get a better price" tactic at all. And yeah I know that works, I've used it and I've gotten good results, but it's a different ball game when you are messaging someone electronically.

When I receive offers that are reasonable, I reply to them even if I am not going to take them because that's what I regard as the first shot of negotiation.
For instance I list at 400, you make an initial offer of 200. I started with my top dollar, you started with your bottom dollar, we're bracketing a deal.
Even if I would never ever take 200 for it, we're in the ballpark so I reply.
I make you a counter offer, and try to sell you on that offer. "200 is too low. I'll come down to 350, but really, this the purple one that's super hard to find."
You make me a counter offer back, and try to sell my on your offer. "It does have that scratch on it so I don't think it's quite worth what you are asking, but I'll do 275."
At any point you can not make a counter offer, but your opting out should never be silence, it should be "Ok well, I can't do that price and I can't offer [more/less] so thank you for your time."

Just not replying is dumb. It's OK I guess, if your aim was to let me know you are immature and/or a shitty negotiator.

 

Disturbing? Shit the way you put it it's interesting as he'll. It was just a selling a doll post and now I am interested in finding out if @MaverickTRD is the doll. If that's the case then it's a bidding war. I'll see your $120 @Brian007Taco and raise you $2. $122 if @MaverickTRD is the doll.

 

It's only +$20 if he's your friend. It's -$10 if you want to piss him off

 

All these have been answered more than once over the past year or so!!!

The MASTER has spoken!!!