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How flexible is the term 'OBO'

Discussion in 'The Hokey Ass Message Board' started by thewaxhead, Jan 6, 2014.

  1. deanopopino
    Joined: Aug 20, 2007
    Posts: 237

    deanopopino
    Member
    from Troy, MO

    The only time I'm "insulted" by an offer is when it's lowball and followed by the phrase "There has to be meat on the bone for me". I usually answer with "This ain't American Pickers and I'm not worried about your profit margin".
     
  2. thewaxhead
    Joined: Apr 3, 2012
    Posts: 80

    thewaxhead
    Member

    Thanks Ben!
     
  3. thewaxhead
    Joined: Apr 3, 2012
    Posts: 80

    thewaxhead
    Member

    yep i get ya, good feedback thank you!
     
  4. gkent
    Joined: Nov 21, 2011
    Posts: 102

    gkent
    Member

    We used to have a buy and sell paper (before the 'net) and I often saw ads that ended with NOTL. I always though they meant "no offer too low" until someone told me it was the sellers' location ... Niagara On The Lake !!!
     
  5. japar
    Joined: Jun 30, 2007
    Posts: 263

    japar
    Member
    from Seekonk Ma

    I once found an item advertised for $250 OBO, it just happened to be a wood/coal stove a twin to the one I have. I had called told him I would pay $250 no problem but if I could pick it up on Saturday because it was about a 2 hour drive. He agreed, but when I called on Saturday to set up a time ect he had told me he no longer had the stove. Someone had offered him $300 and it was sold. I was a little mad I had thought we had a deal but he said someone came by and made me a better offer. Another time I went to go look at an old screw type logsplitter that was advertised for $100. When I got there everything checked out and I paid the guy Bob $100. I was looking at other stuff the guy had then Bob got a call on his cell. Turns out someone else was on his way down at the same time and was asking about directions cause he was lost. Bob told him that he was sorry and that the logsplitter was sold. The man was Irate . I just happen to call get directions but didn't give a exact time I would show up. Bob handed me his cell phone and the other guy offered me $200 for the logsplitter and said he was about 5 minutes away. I told him it was not 4 sale threw it in the back of my truck and left.
     
  6. it happens all the time in So Cal Real Estate these days - still boggles the mind!


    many years ago (1975) I was selling my motocross bike. I priced it very fair in Cycle News and got Zero calls. My old auto shop teacher said raise the price and put "Divorce forces sale", even though I was only 19. original price was $350.00 New price was $550.00 and i sold it for $500.00!

    I don't agree with this - people say this all the time, but the truth is I have had cars for sale that people kept offering a lower amount. I held my ground and eventually found the buyer who agreed with me as to what they were worth. So just because someone doesn't want to pay it today, doesn't mean it's not worth it!




    As for OBO, I once asked a guy what offers he had on a car and he said he didn't have any. I said I'll give you $100 and since you put it out there for "Best Offer", that is a legally binding verbal contract, I'm a lawyer, and you have to sell it to me. he got really flustered and I started laughing and said I guess you didn't really mean "Best Offer" did you. It is kind of a stupid way of putting it.
     
  7. Don's Hot Rods
    Joined: Oct 7, 2005
    Posts: 8,319

    Don's Hot Rods
    Member
    from florida

    I really don't get why anyone would be "offended" by an offer lower than they think it is worth, after all, this is strictly business, not personal. If they call your Girlfriend ugly, that is an insult, if they think the car/part is not worth what you are asking, that is simply an OFFER. Nothing to get your panties in a bunch over, it is the way selling/buying works.

    If I am asking $10K and someone says $5K, I simply tell them that is not enough and it goes on from there. Maybe they will come up, maybe I will come down, and maybe we shake hands and no sale is made. But it is strictly business, not personal, and there is no harm in asking, you might just get lucky.


    Don
     
  8. maybe, Maybe not ;)
     
  9. kyvetteman
    Joined: May 13, 2012
    Posts: 760

    kyvetteman
    Member

    Well said!
     
  10. budd
    Joined: Oct 31, 2006
    Posts: 3,478

    budd
    Member

    i was at a swap meet when i saw a guy i know selling an old bicycle, really nice looking bike style wise but rusty, i go over and say hello and chat with him, he says he has so much stuff at his place he can't move any more, in my mind i'm thinking he will want lots for the bike but i ask anyway, he says $40, i thought wow jackpot, i offer $30 just, the guy gets all upset and puts the bike behind his truck and will not sell it to me, as he is rolling it away i say ok i'll give you $40, nope hes not selling it, i would of given him $100.
     
  11. The37Kid
    Joined: Apr 30, 2004
    Posts: 28,752

    The37Kid
    Member

    It does't always have to be cash, sold my '56 Half Ton many years ago for cash and an original '32 Ford chassis. Good deal at the time, but I wish the chassis was still here. Accepting the right cars or parts can acutally allow you to make more money that the original vehicle selling price. Profit, The American Way! Bob :)
     
  12. The37Kid
    Joined: Apr 30, 2004
    Posts: 28,752

    The37Kid
    Member

    I stopped going to flea markets with a guy that did that on everything except breakfast and lunch. Then there was the ride home listening to him bitch about what he should have offered. EVERYTHING had to get a low ball offer. I stopped going to meets with him, couldn't afford to have people think I acted like him. As you get older, and you see someting in a flea market with a market price or less I just buy it and keep moving. Time lost playing Mr. Big Shot Wheeler Dealer allows others to move past you and buy stuff in the next spaces. Bob :rolleyes:
     
  13. Squablow
    Joined: Apr 26, 2005
    Posts: 15,867

    Squablow
    Member

    A good attitude gets a good deal from me. If you show up with cash and a trailer, and you say "I like it, I'm willing to pay $xx for it", you get a car. If you say "it's really rough, I'm doing you a huge favor by offering you $xx for it" you can get fucked. I don't negotiate with assholes who think they can get a better deal by shit talking me or whatever it is I'm selling.

    And I NEVER talk price over the phone with someone who hasn't seen the car! If the first words out of someone's mouth when they call is "what's your bottom dollar" I know I'm dealing with a bullshitter and I can just hang up.

    I sold quite a few cars last year, all my ads had a price, and then said "will be negotiable to someone with a good attitude". I was very pleasantly surprised how well that worked, made some deals with some very nice people that way. Bullshitters must know their bullshit won't work and just move on.
     
  14. There you go.

    They're a BS'er or they're looking to flip it. I get those on eBay a lot and I tell them "it's up to you to make an offer" ... never hear from them again most of the time.
     
  15. joedoh
    Joined: May 5, 2007
    Posts: 188

    joedoh
    Member
    from Wichita KS


    Agreed, I have never understood the negotiation tactic where someone tells ME the seller what its going to cost HIM the buyer to fix a project up. Why the hell do I care what you want to do with it? Moreover, you want ME to discount the sales price that amount? Isnt that the exact same as you buying the car full price and having me pay to fix it up?

    I have told this story before but I had a truck listed extremely generously, way under the value because it had bangs and dents on about every panel. A guy and his son shows up and he starts bitching and moaning about what each ding and dent is going to cost to fix, I listened for a while then just went inside the house. It took him a while to notice I was gone, and he knocked on the door and said "hey I wasnt done NEGOTIATING!". sure you were. you just didnt know it.
     
  16. Ive asked that before knowing that I only have $XXX to my name, and if his bottom dollar and what I have in my pocket dont meet up, there is no reason to waste either of our time.
     
  17. squirrel
    Joined: Sep 23, 2004
    Posts: 50,927

    squirrel
    Member

    then you should say "I can only offer you XXX, should I come look at it?" or something.

    I sounds better than asking what is the minimum they'll take.

    I got that call today asking what was the least I'd take, I told him the ad had what I wanted for it, and to show up with some money and take a look at it and see if he thought it was worth the asking price.
     
  18. Why? Often times the number they give me is less than what I had to spend. If I say it your way, it puts a number in their mind that hurts any negotiating on my side.

    Ive yet to have anyone ever hang up on me by asking what is their bottom dollar.
     
  19. fat141
    Joined: Jul 30, 2006
    Posts: 1,575

    fat141
    Member

    I think that I would hang upon you. Do you want to buy my car (whatever) because thats what you want, or do you just want something (anything) to buy with the dollars you have so that you can flip it? Think that you have a hide asking what the bottom price is before you even look at the product.
    Rod
     
  20. chopped
    Joined: Dec 9, 2004
    Posts: 2,105

    chopped
    Member

    When someone wants to know what's the least I'll take the only answer I give is what's the most you'll give.
     
  21. slowmotion
    Joined: Nov 21, 2011
    Posts: 3,309

    slowmotion
    Member

    That's it in a nutshell right there, show me the MONEY! Then I'll decide if it's the least I'll take.
     
    Last edited: Jan 8, 2014
  22. To the "bottom dollar" callers, I say, "Make me an offer I can't refuse". You'll know quickly if you have an interested buyer. Looking at a vehicle now that I like, but need to move another first. Add has price as "firm", but hasn't sold yet, so figuring a bottom line for me and will take cash to offer.
     
  23. RichFox
    Joined: Dec 3, 2006
    Posts: 10,020

    RichFox
    Member Emeritus

    If I advertise $900 OBO. That means I would sure like to get $900 , but I don't expect to and would really like to move this POS.
     
  24. Captain Chaos
    Joined: Oct 16, 2009
    Posts: 596

    Captain Chaos
    Member
    from Missery

    lol , yep . I dint put obo because buyers offer less even if it says FIRM!

    to origianal question. offer what you feel comfortable paying , if they say no, walk away. pulling cash out w low offer tends to help a lot. you can also use the old ," Im leaving tiwn intwi weeks, if you change your mind before give me a call" this puts a little preassure on them if there hasnt been much serious interest.
    Dont be afraid to make the offer, some clowns shoot for the moon and let price drop til it finds a buyer .
     
  25. George/Maine
    Joined: Jan 6, 2011
    Posts: 949

    George/Maine
    Member

    I had been trying to sell a pickup for couple years was asking $13000. then went to $12500.Got a call wanted to see it. The guy looked it over and said he had $10K in his pocket, I thought do I want to sell it or is he bull shiting me. I said show me the money. I sold it. I did the same thing a bought another car same way.
     
  26. EZ Cool
    Joined: Nov 17, 2011
    Posts: 265

    EZ Cool
    Alliance Vendor
    from Slaton TX

    Its about as flexable as 'rust free' which sometimes should mean 'free rust'
     
  27. Mr48chev
    Joined: Dec 28, 2007
    Posts: 30,844

    Mr48chev
    ALLIANCE MEMBER

    Went to look at an ot car for my wife a couple of months ago that had obo on the add and that seller got real cranky when I offered him 300 less than the asking price. Turns out he was looking for guys to bid against each other to make a "best offer" above what he saw as his starting price. It was still for sale yesterday.
     
  28. These days OBO means absolutely nothing, as a rule. Sellers expect your best offer to be the asking price as a rule.

    To me if I have an ad that says OBO I will work with you, if you low ball me then your best offer just became 20% more than asking and it keeps going up every time you insult me. I think that OBO should mean 15-20% less than asking.

    Now let me muddy up the waters, there are people that think that OBO means it is an auction. case in point I have gone to look at jalopies and figured that the asking was fine, only to have the seller tell me that he had other people comming to look at it. basically he wanted to take the "best " offer.
     
  29. Personally I don't put $10K OBO. Just opinion here, but it opens the door to the $10K NOT being the price, when it is the price. You're gonna get people that wanna grind your tits off anyways, so why encourage more of it? As far as deals? I DO grind tits. LOL. My one friend says he can't do what I do, but I wouldn't have half the shit I have if I didn't grind. So, I do respect (to some degree) when someone grinds me. Oh, back to the deals? I recently bought a pretty nice 442 convertible for $11K. He was asking $18K. I can give literally hundreds of examples, but one more was a cool tri-power/4 speed 60 Pontiac Ventura that I bought for HALF the asking price and the guy thanked me for a smooth sale
     
  30. No, I would not be offended. BUT, if he insisted and failed to move on, after me making it clear that he wasn't even close then I'd walk away, knowing he was wasting my time. Oh, more annoyed than offended at this point.
     

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