What percent of the BIN price do you consider a "Lo-Ball" offer?

CopperWire

Title says it all. 80%? 60%?

CopperWire

commoncents05

Depends on how much higher the asking price is over a true market price.

-Paul

Rampage

I've seen cases where the seller had a price a many times over a coin's actual value. I once offered Blue Moon less than 10 percent of the asking price on a coin they had listed and they accepted. What I paid was average selling price for a coin of that quality and type.

Rampage

I've also seen sellers list coins at or near average selling prices with a best offer listed. I doubt he/she would accept much less than the BIN.

seatedcollector

this is BOUND to stir the pot, but here goes. TIMING is everything ! people that offer in the first few hours get blocked, after the item has had some exposure (three or four days) and no one seems to be interested in it, that is the time to make the offer, if a seller has his prices set too high, the item wont sell. and the seller gets this, the low ball offer accompanied by the explanation of the item not being worth the asking price is an excellent way to get blocked. the seller owns the item, it is disrespectful to tell someone that thier price is too high, when the item doesnt sell, the seller can figure out for himself that the price is too high. i usually start off with a high price, by the third day i drop it down to what id like to really get, by the fifth day ive added another dozen or so to the blocked bidder list. consider this, you are selling your old car, you know what you want to get for it, say you ask $1200 and the first guy to call comes out, looks at it, magnifies every little flaw the car has, wants a handwritten guarantee that everything works on the car, and then offers you $300 now mind you hes the first guy to look at it, are you gonna jump on that offer or maybe let a few more people look at it ? or are you going to ask the guy why he is even interested in such a hunk of junk ? now if this guy offered $1050 or $1100 he stands a MUCH better chance of getting the car. if the car hasnt sold in a month, that $300 offer still feels like an insult. but seeing that no one is waving money, you may be more willing to lower the price to say $750 then if some guy comes along and says hey i'll give you $550 as is and you'll never see it again, you may sell it just to be done with it. timing and attitude. if you want the seller to give up something, why not also be willing to give up something ? example: a coin is listed at $100 you want to pay $75 so dont offer the guy $50 hoping he will counter with $75 or you can steal it for $50 ask a question such as: "hi, id like to offer you $75 for your item, but i see that it still has six days left, i also see that you offer a 10 day money back return policy, well, i like the coin, enough that i dont really see any reason why i would return it so would you be interested in taking my $75 and having the coin out of your life ? if youd like to kick my offer around for a day or two, thats fine, id just hate to check back and see that it sold for less than i would have paid" believe it or not, sellers respond quite well to a little decency. remember, THEY are the ones paying the listing fees, plus the 10+% FV fees plus the 3% paypal fees,

rec78

Why is a low ball offer more insulting than a moon money bin? Say you both know the car or (coin) is worth say $600 and that is what your buyer will pay. He offers you $300 in the hopes that you will come down to $600. Trying to sell a $600 car or coin for that matter for $1200 is insulting to me as a potential buyer. I am more insulted by a dealer's high hopes than a low ball offer.
I do not consider a low-ball offer any percentage of a bin. A lowball offer is lower than the coin is worth and will most likely be rejected. Some people have high hopes for common coins.

seatedcollector

rec, you are insulted when you look at a listing and you feel the price is too high ??? is that what you are saying ??

ricko

'MOST' of the time, I will not even consider a coin priced too high. I just move on... be it ebay, coin show or BST. Just not worth the hassle. In the rare case that I am highly interested, I will make an effort to discuss the price and make a reasonable offer (within the bounds of reality). I have had some take it, some reject it. Cheers, RickO

FullStepJeffs

<< <i>Depends on how much higher the asking price is over a true market price.

-Paul >>






I have seen many coins currently listed for double the PCGS price guide and triple recent sales figures. I've also seen others that try to sell a $400 coin for $550.

I understand there are always those who want to make as much money as possible for a coin in question, but to get angry when shown what a coin should sell for... well, I just have to move on to the next possibility.

And yes, I would be a buyer of at least three coins out on the market right now, if the seller had a reasonable price listed. I've decided to let them continue to pay the Ebay and TT fees.


Steve

RedTiger

The converse might be: "what percentage price over recent auction results do you consider a ridiculous asking price?"

Like others have said, different sellers use different tactics with different expectations. The seller that list coins for over 10x current market value expects low ball offers. There are sellers that list for double or triple current market, that may just be fooling themselves or using old price sheets, and thinks the offers at current market or 10% below to be insulting because they are so far off their list price. Often times, it is the seller that is way out of touch and keeps relisting their coin. One would think that after several months of relisting they would get the message, but they don't seem to. Now that Ebay has some free listings every month, it seems to encourage this type of behavior. Ebay needs to pump up listing numbers because that is one measure of activity.

I see this all the time on BST, coins listed for 2x or more of current market value. The same coins often get relisted time after time because the seller may be out of touch or is hoping to land a fish.

drwstr123

Just me, but if you list "or best offer", you should be ready for anything. What the hell, you stated it in your title.
If you are not agreeing, decline the offer respectfully and move on.

dizzyfoxx

Isn't it all about "what someone is willing to pay"???

When looking, I'm not offended by a high BIN, or when selling, I'm not offended by a low ball offer. After all, it's all about what someone is willing to pay, whether that amount be high or low is inconsequential.

Billet7

Lower than 50% the asking price is what I consider lowball. 50%-20% range is fishing for a great deal, and 1%-20% off is a respectable offer.

nicetoning42107

Of course there are many things that factor in here, many already mentioned.

But in a very general sense, anything lower than 70% of the price listed would be lowball to me as a buyer or seller.

Coppercolor

I collect colorfully toned coins. It's a market where there's an EXTREMELY high degree of emotion and subjectivity driving the price, and almost NO guidelines for how prices are established. It's customary for toned coin dealers to list BIN's at 10-20 times PCGS price guides hoping that someone will see the toned coin, and think "god I've never ever seen one with color like that, in a pcgs holder, and I'm freaking never going to see it again". Whamo, guy buys it, I've done it. But if that person doesn't cruise along, then it goes to auction, or it goes to BIN/Best Offer and then it may only go for 2-5 times guidelines depending on how common the date is with color, and how good the color is.

To answer the question:
There's 66RB lincoln right now listed on ebay with a BIN that's 15X the 66RD price. Though not two toned coins are alike I've seen similar ones go for $40-295, so in that instance I think offering in that range is entirely acceptable and the willingness of the buyer to accept usually depends on how much he/she paid for the color on the coin.

Jeff

Bayard1908

If my offer doesn't generate an auto reject, I figure I'm in the ballpark.

ttown

No such thing these BIN auction are priced way to high the majority of the time. I offered someone $400 for a 1/4 2000 W proof that he had listed for $475 and he came back with $470. Needless to say it was getting like a car deal and I moved on. A few days latter in a real auction I got the same coin for $375 which is about right up to $400.