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Thread: This whole "lowballing" thing
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07-06-2017, 13:02 #1
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This whole "lowballing" thing
Hi everyone
Sorry to rant, but this is something I've noticed recently, and after chatting to a few other forumites, it seems to be happening more and more frequently, so I thought I'd bring it up.
Let's start with a basic definition. The Business Dictionary (http://www.businessdictionary.com/de...all-offer.html) describes a lowball offer as follows:
"An offer from a potential buyer that suggests a heavy discount to the seller's asking price. ... Whether an offer is truly lowball or simply realistic depends a great deal on market conditions, seller's financial situation, and expectations."
Yes, sometimes the seller might be slightly out with market pricing, or the potential buyer doesn't necessarily have the funds to meet the asking price, but don't be a tool and insult the guy buy offering <25% off the asking price? Don't make your problems his?
Eg. I ask R5000 for a scope that I'm looking to sell. If it says firm or doesn't say negotiable or open to offers, don't try your luck? It ends up showing you in bad light and makes the seller irate.
If the seller wanted to sell it at your lower offering price, he would have, or would have stated otherwise (eg. negotiable or open to offers)
By contacting the seller and showing interest, surely you are showing interest in the original asking price or there abouts. An example of this would be around 5% to maybe 10% less, but some guys seem to love to push the envelope. Back to my example - If I'm asking R5000 firm, for an item, and I might be open to 5% (R250) or 10% (R500) off, but rather you phone me up and say "Is that your best price?", and then tell me all you have is R3500 (30% less than the asking price), there's a good chance I'm going to laugh at you, hang up on you, and generally have a low opinion of you if not worse.
Firstly, have decency to inquire in a polite manor if you're interested in the item, and:
i - the item is listed as negotiable or open to offers
ii - your offer is within reason (5-10% lower)
iii - you've actually taken the time to think about it, and if the shoe was on the other foot, would you accept the offer?
Sorry to rant everyone, but the forumites on here make up a community, and it's just about being courteous to one another. For all you know, the seller is in a financial tight spot and you're insulting him by taking chances.
Anyway, rant over.
Looking for people's inputs
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07-06-2017, 13:16 #2
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07-06-2017, 13:18 #3
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Re: This whole "lowballing" thing
Here, here!
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07-06-2017, 13:18 #4
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Re: This whole "lowballing" thing
To be honest, I disagree. I've realised that in life, most items for sale, from cars, houses, items on Gunsite, hell, even at Woolworths can be haggled over. If you don't ask you don't get - that's my view. I've seen many lowball offers accepted on cars, houses etc.
Don't be offended if you don't like the lower offer, you don't have to accept it. Just like I wouldn't be offended if you turned me down.
As for "not negotiable", there are a lot of items on Gunsite where it starts off as not negotiable, only for the item to start coming down in price if there isn't sufficient interest. Even the "final price drop" often are not the final ones! That said, if it's something I want and it's something that sells quickly, then I'll likely pay the asking price if it is a reasonable price.
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07-06-2017, 13:19 #5
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Re: This whole "lowballing" thing
And then the oke rocks up in a brand spanking new luxury German sports car leaving you feeling like a right proper tit for having gifted him 200 bucks off the asking price of your 500 buck item cos you bought his sad story.
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07-06-2017, 13:24 #6
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07-06-2017, 13:25 #7
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Re: This whole "lowballing" thing
100% agree Marshy.i have a simple approach to purchasing anything-if I have a need for an item and someone advertises said item at a price that suits my budget,i get in touch,pay the price and move on.if it is something I want and slightly over my budget i will ask if the seller is open to negotiation and if they are,i make my offer.fwiw I would not look at something if it more than 15% over budget.eg:on for r1000 and I am willing and able to pay r850.i get that everyone is looking for a great deal but I always try to be respectful and considerate of the seller in that my guesstimating is that the seller has put some thought into their asking price taking into consideration the following:what do I need to get out of the item,what is current market value etc.if someone imo is being an asshat and asking way too much I simply do not give it any consideration.you are not forced to buy if you think the deal is not good enough but don't waste everyone's time by low balling just to take a chance.
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07-06-2017, 13:25 #8
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07-06-2017, 13:27 #9
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Re: This whole "lowballing" thing
got to admit though, have seen some items for sale drop drastically as the bump bumpity gets more frequent
personally I'd ask what i have and am willing to pay, don't like the offer don't take it, whats the use ine being offended
you dont even want to know how many times ive sold stuff on gumtree and get a call saying "howsit, best cash offer??"
i always ask, well what the hell else you gonna pay in? chickens??
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07-06-2017, 13:34 #10
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Re: This whole "lowballing" thing
I have also received lowball offers for goods for sale.
I don't see why you as the seller should get irate about an offer. If you don't like the offer, simply decline. Why take so much offense? He just offered you a low amount, he didn't swear at your mother. When did negotiation become so insulting?
I, as a buyer, couldn't care a fuck what you as the seller may think of me.
If you want me to buy from you, best you don't mark it as non-negotiable. If I can't negotiate, I'll buy elsewhere.
Unfortunately(or fortunately), times being what they are, it is a buyer's market.
Good luck with whatever you are selling.
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