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Had my first positive best offer experience yesterday. I have never been a fan of doing best offers because I always thought that when I would counter offer it took it off the market for 48 hours or until it was accepted or declined. Come to find out that was not true.
Well I gave best offer a try for an item I got at auction on Saturday. I won a box lot of four items. One item was a WWII empty box for the Jacobson Belt Filling Machine which accompanies the Browning.30 Caliber Machine Gun. Paid $52.50. The other three items comped out at $85. The comps from WorthPoint were $770 for the machine and box, $660 for just the machine without the box, and $66 for a reproduction box.
I listed it Saturday night for $175 buy it now, and 18 hours later there were about 40 views, 6 watchers, and one question. I liked those numbers and added the best offer option. I got an offer right away for $140, countered $150, and sold. Pretty happy with that.
eBay item # 352324792112My question is what guidelines do others use when deciding to use the best offer option?
Thanks
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I have a good strategy for dealing with best offers. I don’t mind taking BOs for 10 or 15% off, but if I get one more than that, I’ll counter with what I think is fair with a message that reads “Hello. $xx is as low as I can go at this time. Thanks.” It’s quick and courteous, lets them know that you’re done haggling, and lets them know that they’re dealing with a person and not some big business. It’s good to be confident with your pricing too. I’ve gotten some sap stories along with the best offers and I’ve had to learn to stand my ground.
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Hoping for some quick advice on an item I’m selling right now. I just listed a hat for $110, and already have four offers. Two at $50, one for $55 and one for $60. Maybe this should tell me that it’s worth closer to that amount, but I’m hoping for more since there is so much interest. What’s your strategy for countering in a situation like this? Counter everyone the same amount at the same time? One at a time and wait for a response? I’m never sure how I should handle that. Heck, I’m not even sure how low I want to go! Any advice would be great. Thanks!
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I would wait it out. If you just listed it and you already have 4 offers, this means you have something good.
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Great advice all. In Idahoarder’s case, did or can the buyer see that there were 5 offers pending when they decided to buy it at full price?
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I’m pretty sure you can’t tell if there are best offers pending, as a buyer. You can only see if there are watchers.
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Right. I don’t think they can tell if there are offers. Sometimes I consider telling someone when there are competing offers, but I figure that just sounds like a scam (even though it’s not).
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Managing offers has been mostly hilarious. Had one book that had several steady offers for ~75% less than asking price – which I declined – then a couple of people came back at ~60% off, countered at 10% off… which the buyers declined – then someone else bought it at full price!
Or the buyers that make an offer and then just pay full price 10 minutes later … Too nervous I guess, this has happened regularly.
I also agree, if you get a number of fast lowball offers, you may have something with more appeal. raise your price and wait it out, there’s something special there.!
(everything in my store is Make an offer, no limit. It’s entertaining.
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