What is "best offer"?

[Ohgary]

What is the general understanding of "best offer"? Does it mean the seller will accept less than the asking price if it is the best counter offer he receives? Or does it mean the highest offer above the asking price?

[thunderbirdbat]

I always thought it was the highest price offered. Above or below the asking price does not matter.

[JPG]

Typically it means the seller will consider an offer less than the 'buy it now price'. The seller may accept or decline an offer or make a counter offer. Works better when no bids are already made.

My experience with a 'bid' greater than the buy it now price will continue the auction at the normal e-bay bidding method. I think the seller(caused someone) ran the bid up to just below the BIN price.

Well it made sense at the time! i.e. an impractical 'tactic'.

[oldiron]

It could go either way however, I've always understood it to be the best offer below the asking price.

If the seller is asking say $329.00 for an item and everyone interested is submitting offers below the asking price. Whoever is willing to pay the most(below the asking price)is usually the one who wins...

Of course, Despite the fact they say "Best offer", You'll run into the stubborn ole goat who won't go for anything less than $328.99 LOL....

Mike

[skou]

What is the general understanding of "best offer"? Does it mean the seller will accept less than the asking price if it is the best counter offer he receives? Or does it mean the highest offer above the asking price?

Depends! (Just like John McCain's underwear.)

Ebay, best offer UNDER the lower limit.

Craig's list, best offer ABOVE advertised price.

At least, that has been MY experience.

steve

[roy_okc]

Excluding eBay and such, I've generally experienced that the seller will consider, but not necessarily settle on, offers lower than the asking price. For instance, the above $329 asking price, may agree on $300, but probably not $3.

I've experienced once where a bidding war happens on CraigsList that exceeds the asking price. I saw an item in Dallas (I'm in OKC area) in the middle of the week, offered the seller full price, but couldn't be there until that Saturday, thought we had an agreement. When I contacted him on Friday evening to get his address, he stated that he was instead taking higher offers. Turned out to be good thing for me as shortly later I got a much better item locally instead.