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Post by kcatthedog on Apr 11, 2020 7:13:00 GMT -6
Is it just me or where did this practise when selling of a buyer not offering something but just asking for you lowest price?
I get so frustrated with this approach, as I normally list at what is a good average price using reverb or ebay sales data?
Thoughts ?
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Post by Tbone81 on Apr 11, 2020 8:08:18 GMT -6
My favorite is when selling things on Craigslist and I get responses like, "yo, I know you're selling XYZ for $1000, but I'll give you $500, TODAY...CASH".
Like really? You think offering cash, on Craigslist, is going to sway me? Like I would take personal checks or something.
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Post by gwlee7 on Apr 11, 2020 8:18:22 GMT -6
A long time ago I saw an SG w a Bigsby for sale in the local paper for $425. I go over to the guy’s house to check it out. I like it and pull out $400 and say I’ll give you $400. He says it’s $425. I say what’s $25? He says the difference between you getting it and not getting it and put it back in the case and slid it under the bed.
I gave him the other $25.
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Post by kcatthedog on Apr 11, 2020 8:27:43 GMT -6
2-3% is reasonable, I laugh when peeps are offering you like 60% of your fair market value ask!
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Post by gwlee7 on Apr 11, 2020 9:44:43 GMT -6
2-3% is reasonable, I laugh when peeps are offering you like 60% of your fair market value ask! And when haggling even after reading the words “firm” and “non-negotiable”. |
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Post by svart on Apr 11, 2020 10:42:36 GMT -6
They figure that if you're selling because you need the money, a cash offer will sway your better judgement.
That and people sometimes just like to "beat" the seller. It's an ego thing about feeling powerful.
The only times I've found something I want but have asked for a lower price is when the item is listed at higher than average. Sometimes the seller will list at slightly higher and "let" you haggle them down to a normal price. It beats the buyer at their own game.
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Post by EmRR on Apr 11, 2020 13:11:40 GMT -6
Sometimes the seller will list at slightly higher and "let" you haggle them down to a normal price. It beats the buyer at their own game. I think a lot of buyers assume this is going on. |
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Post by johneppstein on Apr 11, 2020 14:59:04 GMT -6
Is it just me or where did this practise when selling of a buyer not offering something but just asking for you lowest price? I get so frustrated with this approach, as I normally list at what is a good average price using reverb or ebay sales data? Thoughts ? I generally ask for a seller's lowest price, it gives me some idea of how much tyhey really want to sell. If I make an offer I'm invariably accused of "lowballing", because if I make an offer it's going to be based on used wholesale value - in other words what a store would give you. Hey, people sell to stores all the time, wouldn't you rather sell to somebody who's actually going to USE it?
But a lot of people don't see it that way.
I recently responded to a Reverb listing for a KM84 in pretty whacked condition that had the serial defaced - the guy's published asking was what I'd expect for a mic in mint condition. The guy gave me his "lowest price" of $1,200. I countered with an offer of $600, pointing out that the mic was beat and the fact that the serial was ground off was very dodgy, probably indicating that the mic was stolen at some point. The guy blew up at me, saying among other thjings, that he is a "professional mic dealer". I told him that a professional dealer - which I had been at one point - would not touch a potentially stolen mic with a 10 foot pole.
Effing delusional.....
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Post by johneppstein on Apr 11, 2020 15:02:02 GMT -6
Sometimes the seller will list at slightly higher and "let" you haggle them down to a normal price. It beats the buyer at their own game. I think a lot of buyers assume this is going on. I always do if I don't know the seller. And I always do it in stores - I've worked in enough music stores to know that's how the "game" is "played". |
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Post by Tbone81 on Apr 11, 2020 15:22:55 GMT -6
So despite my previous post I must confess, I love to haggle. I'm middle eastern, it's in my blood. If I can get something for cheaper,l just buy asking, I will. I'm not trying to rip anyone off, but I'll take a deal when I can.
It's unrealistic/absurd offers, that assume I'm desperate to sell, that irk me.
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Post by johneppstein on Apr 11, 2020 15:38:58 GMT -6
2-3% is reasonable, I laugh when peeps are offering you like 60% of your fair market value ask! And when haggling even after reading the words “firm” and “non-negotiable”. Usually the words "firm" or "non-negotiable" accompany an item priced at or above the store retail price for such an item. Why would I buy from a stranger for the same price I can get it for from a dealer with at least some sort of warranty and other buyer protections?
Also, (real) dealers have operating costs and overhead to amortize. Private sellers don't. Private sellers are not dealers (who can also afford to wait months or years to make a sale and also have a guaranteed flow of customers through their doors. (Well, in "normal times", anyway).
So what is "fair market value"?
The one exception (which I've never dealt in) is the "collectables" market in which it's the wild west because the customers are "collectors" and, by definition, crazy. I HATE "collectors" - they drive up prices for those of us who actually use the stuff.
BTW, 60% of your "fair market value" is about 10% over average dealer used wholesale*. If someone offers you that you can assume that you're dealing with someone who is a small time dealer or at least someone who has done time working in music/audio stores. And he's not trying to "lowball" you (a really insulting term), he's offering what you van reasonably expect to get in a reasonably short period of time as a private seller. And he's being slightly generous in offering more than store wholesale.
* - generally a dealer's advertised price for used merchandise is twice what he has invested in it. Some dealers won't even pay 50%, especially if the item is (A) common or (B) an item that is currently subject to "inflated fad value") - for example I have an old Teisco Del Ray bass that's similar to one that GC had in their "vintage" section priced at around $500. IIRC they offered me $50. Which is actually about what I expected, as I hadn't expected to sell it, I was just curious about what the real value was, as opposed to the advertised "market price".
The one exception to all this about dealers is consignment sales, in which the dealer takes maybe 20-25% of the selling price. This is because the dealer gets additional stock without additional investment - his money isn't tied up in the piece.
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Post by johneppstein on Apr 11, 2020 15:41:30 GMT -6
So despite my previous post I must confess, I love to haggle. I'm middle eastern, it's in my blood. If I can get something for cheaper,l just buy asking, I will. I'm not trying to rip anyone off, but I'll take a deal when I can. It's unrealistic/absurd offers, that assume I'm desperate to sell, that irk me. You should look at it as them offering you quick money. Nobody's saying you have to take it. |
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Post by johneppstein on Apr 11, 2020 15:46:08 GMT -6
My favorite is when selling things on Craigslist and I get responses like, "yo, I know you're selling XYZ for $1000, but I'll give you $500, TODAY...CASH". Like really? You think offering cash, on Craigslist, is going to sway me? Like I would take personal checks or something. Well, there's the question of how long you want to expose yourself on Craigslist. <quizzical grin> |
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Post by kcatthedog on Apr 11, 2020 16:04:04 GMT -6
Reverb and eBay show you used sale prices, so if you pick a price in that range it is fair market value.
For me , a buyer is supposed to consider your post and make you an offer, asking me my lowest price basically takes haggling out of the process.
The guy this morning actually made an offer $500 below my asking price, then emailed me asking me to cancel his offer as he had made a mistake. I said sure and did.
Few minutes later he come back with the what is my lowest price. I told him I don’t play that game and for him to make his best offer: silence.
Got no time for that and am not in a desperate have to sell situation.
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Post by Blackdawg on Apr 11, 2020 16:08:32 GMT -6
Reverb and eBay show you used sale prices, so if you pick a price in that range it is fair market value. For me , a buyer is supposed to consider your post and make you an offer, asking me my lowest price basically takes haggling out of the process. The guy this morning actually made an offer $500 below my asking price, then emailed me asking me to cancel his offer as he had made a mistake. I said sure and did. Few minutes later he come back with the what is my lowest price. I told him I don’t play that game and for him to make his best offer: silence. Got no time for that and am not in a desperate have to sell situation.Then don't let it bother you. Just ignore it and chalk it up as a tire kicker. Someone who want's it will buy it and go through the process. |
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Post by kcatthedog on Apr 11, 2020 16:29:05 GMT -6
Yup, good advice thx!  |
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Post by LesC on Apr 11, 2020 18:12:15 GMT -6
A long time ago I saw an SG w a Bigsby for sale in the local paper for $425. I go over to the guy’s house to check it out. I like it and pull out $400 and say I’ll give you $400. He says it’s $425. I say what’s $25? He says the difference between you getting it and not getting it and put it back in the case and slid it under the bed. I gave him the other $25. I had a guy do what you tried to do once, never again. Before somebody comes over, I make sure they know that they will be paying the agreed-to price. What's $25? If you think it's nothing, why were you trying to withhold it? $25 is the difference between keeping an implicit promise and trying to cheat someone.
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Post by Tbone81 on Apr 11, 2020 18:24:16 GMT -6
My favorite is when selling things on Craigslist and I get responses like, "yo, I know you're selling XYZ for $1000, but I'll give you $500, TODAY...CASH". Like really? You think offering cash, on Craigslist, is going to sway me? Like I would take personal checks or something. Well, there's the question of how long you want to expose yourself on Craigslist. <quizzical grin> I try to only expose myself in private, too many weird looks when I do it any other way! |
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Post by Tbone81 on Apr 11, 2020 18:27:57 GMT -6
A long time ago I saw an SG w a Bigsby for sale in the local paper for $425. I go over to the guy’s house to check it out. I like it and pull out $400 and say I’ll give you $400. He says it’s $425. I say what’s $25? He says the difference between you getting it and not getting it and put it back in the case and slid it under the bed. I gave him the other $25. I had a guy do what you tried to do once, never again. Before somebody comes over, I make sure they know that they will be paying the agreed-to price. What's $25? If you think it's nothing, why were you trying to withhold it? $25 is the difference between keeping an implicit promise and trying to cheat someone.
I love it when people do that! Seriously, I always just smile and say, "did you drive all the way across town, in traffic, to leave empty handed?" Throwing it right back at them is always so satisfying. |
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Post by gwlee7 on Apr 11, 2020 18:36:59 GMT -6
Yeah. I started laughing and gave him the money. It was funny to me.
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Post by EmRR on Apr 11, 2020 18:42:24 GMT -6
If I think someone is high, I'll lay out what I've paid in the past (if I've bought the item before, sometimes multiple times), or what ended auction sales show on average, and offer something in that range with the statement that I understand that might not be what they want to take, and that's fine. It can lead to more conversation that way, or at least less hard feelings. Sometimes they turn you down but call back a few days later. There've been cases with stupid heavy hard to pack items where I broke down the difference in someone's ebay BIN versus their opening price, told them what the fees they'd pay would add up to, and offered to come pick the items up with a cash payment, THEN made my offer.
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Post by ericn on Apr 11, 2020 19:22:04 GMT -6
From the days when selling gear paid the rentIm not a fan of the whole back and forth. See time is money so I’ll sell at a good price or make a reasonable offer. If I see a great deal I’ll jump if I can and close it quick.
If you low ball I’ll probably counter above my asking and tell you it’s simple your paying for the time I have wasted. If you tell me your buying for a church blah blah blah the price just doubled, it just won’t work on me, sorry to many churches didn’t pay on time and I didn’t get paid.
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Post by Tbone81 on Apr 11, 2020 19:55:38 GMT -6
From the days when selling gear paid the rentIm not a fan of the whole back and forth. See time is money so I’ll sell at a good price or make a reasonable offer. If I see a great deal I’ll jump if I can and close it quick. If you low ball I’ll probably counter above my asking and tell you it’s simple your paying for the time I have wasted. If you tell me your buying for a church blah blah blah the price just doubled, it just won’t work on me, sorry to many churches didn’t pay on time and I didn’t get paid. I sold a PA system to a guy who told me Jesus would bless me if I sold it to him cheaper, because it was for his church. He said it would be an "answer to prayer"...I told him it would an answer to my prayers if he paid full price and that god would bless him for helping me in my financial needs lol. Yeah, that was a fun exchange |
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Post by LesC on Apr 11, 2020 21:57:39 GMT -6
I had a guy do what you tried to do once, never again. Before somebody comes over, I make sure they know that they will be paying the agreed-to price. What's $25? If you think it's nothing, why were you trying to withhold it? $25 is the difference between keeping an implicit promise and trying to cheat someone.
I love it when people do that! Seriously, I always just smile and say, "did you drive all the way across town, in traffic, to leave empty handed?" Throwing it right back at them is always so satisfying. I see why you might find that satisfying, but I found it very irritating. I couldn't care less about his time, I care about wasting my time. It's just plain ignorant and disrespectful. |
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Post by LesC on Apr 11, 2020 22:02:10 GMT -6
On the other hand, I've often charged people less when selling something. Once I understood their situation, I would reconsider. I recently had a man wanting to buy something for his son with sickle-cell anemia, a 3d phone gizmo. I was asking $70. He was going to come pick it up, and the coronavirus thing happened. I mailed it to him at my expense,and gave it to his son as a present.
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