OBO

K-Mo · Aug 8, 2016

What is "Or Best Offer" (OBO) assumed to mean?
I always assumed an item could be bought for the asking dollar amount or a lower negotiated amount.
A friend had first chance on an item. He had a few questions the seller was going to check on and call back. When the seller came back with the answers, he wanted more than the asking price. I'm assuming another person called and was told someone else was first in line. Then the second buyer offered a higher than asking price.
I think if an item is up for bids, they should say up for highest bid.
It also rubs me the wrong way when they don't give a price. I don't care for guessing games.

gtractorfan · Aug 8, 2016

Never thought of it that way, but I guess "or best offer" could also be "up for the highest bid". The best offer might be more than the first asking price?

TomH in PA · Aug 8, 2016

It could be another buyer expressed interest, or maybe the seller just decided to hold out for more because your friend seemed interested.

I agree with what you say about no asking price. If the seller is too lazy to do a little research I'm not interested.

Glenn F. · Aug 8, 2016

Actually I think it's, "or better offer."

Glenn F.

greenmech · Aug 8, 2016

I always took it to be best offer under the asking price. Ron Mn

Tom in NE · Aug 8, 2016

Quote: Actually I think it's, "or better offer."
Glenn F.

Winner! (Grin)

RodinNS · Aug 8, 2016

In plain simple English.... it means the best price the seller can get. It doesn't imply to me that it means less than the asking price... although that's how most of us as buyers would play it.

Rod

Royse · Aug 8, 2016

(quoted from post at 22:03:25 08/08/16) In plain simple English.... it means the best price the seller can get. It doesn't imply to me that it means less than the asking price... although that's how most of us as buyers would play it.

Rod

That's the way I take it.
I sometimes list things for xx amount or best offer.
If someone offers me my asking price I take it like I said I would.
But if people offer me a reasonable amount that is less, I take
their name and number and set a date a couple of weeks out.
On that date, the best offer owns it if they still want it.

dhermesc · Aug 8, 2016

Or best offer. Doesn't mean it has to be below asking. The best offer can be more than asking - as in someone knows the asking price is low and offers more to make sure it doesn't disappear before they can get there to pay for it. Now that many ads have pictures or even videos its a bit easier to do things like that.

Gets kind of embarrassing though when a seller hits you with that line about having a higher offer then calls back wanting to know if your lower offer is still good, which is usually a big NO on my part.

K-Mo · Aug 8, 2016

Well, I'm glad we got that cleared up.
If the ad just says "OBO", does it mean best offer or better offer.
If they want high bid, just say so.
From the responses, it seems like we have some straight shooters and we have some game players.

jimg.allentown · Aug 9, 2016

There are a good many game players out there. Seems like every time I see something I would like to get, there always seems to be "several other people" looking at the same item. Even though the ad is only 10 minutes old. I generally figure that the seller is just trying to squeeze more money out of the sale. I don't play that game. My offer is what I am willing to spend on that item, and if somebody wants to pay more, I let them. Auctions are famous for prices either going too high or too low.

Bonnan · Aug 9, 2016

K, when I buy I am a straight shooter, when I sell I'm a game player. (grin!)

Mike M · Aug 9, 2016

I got into one of those situations where the guy must of thought it to be "or better offer" I played along a bit and helped him get a better price. I then proceeded to tell him that if he wanted to run an auction to say so ! This was a few days after I had already agreed to meet him after work. I showed up with the truck and trailer and proceeded to hand him his asking price in CASH when he then told me about trying to get better offers ! I tried to get him to commit to a price then and there and he would not. No mention of this when I talked to him on the phone a couple of times before I showed up.

Meangreen · Aug 9, 2016

I've never thought of it as getting a better price than asking. I always put it on my stuff as a sign to show i'm willing to negotiate. Flash some Franklins and it'll speed up the negotiation process :lol:

Everything I have purchased off of the ads here or craig's list I have gone in, made an offer and then the deal was sealed. I pay in cash and we're both happy. If some guy told me he had to sit on my offer I tell him to.... Not going to play that game or waste my time.

I had one guy chew me out at a flea market for putting OBO on a tractor I had for sale. He was like I don't understand it, just put your price out there and then I will decide if I want to pay it or not. Either he must have been burned by someone taking bids or hated negotiating. My dad can't believe how cheap I get things sometimes. I love negotiation.

Hay hay hay · Aug 9, 2016

That is how free enterprise works. If you don't like the sellers terms or actions, you are free to go elsewhere.
This is the system we all defend so vocally.

OBO

K-Mo

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gtractorfan

Well-known Member

TomH in PA

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Glenn F.

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greenmech

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Tom in NE

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RodinNS

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Royse

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dhermesc

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K-Mo

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jimg.allentown

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Bonnan

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Mike M

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Meangreen

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Hay hay hay

Well-known Member

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