Question on eBay "Best Offer" and how it works?

Geoman

I have recently submitted a "Best Offer" on two separate eBay auctions and both times I immediately get the "Congrats... You have won the auction..." page. So I am guessing that the sellers can set a value where if you bid (offer) above that price, they will sell it. So you don't have to wait for the sellers to consider the offer and reply; instead, it is automatic. Is this a correct assumption?

Another thought I am having, maybe I could have won it for less. I try and offer a price what I think is fair, and both times I have won. For example, the latest coin I offered $310 on. Maybe if I would have offered $300 I still would have won. It has me second guessing at least.

What have been other's experiences with these sort of auctions? Do you ever find out what the lowest the seller would have sold for?

commoncents123

I've never encountered it but you can set it to where it automatically accepts an offer. So that's what the seller did in your case.

scotty1418

I believe you get 3 opportunities to submit a 'best offer', so in the future, you might want to try a certain percentage below your 'best offer' and work up.

It helps give you a better idea of the seller's minimum acceptable offer too.

LindeDad

Yes you can pre set the Minimum that you will accept for an item. And no the buyer does not know what it is.
You can also put in your own decline massage if the offer is not high enough.
I use it sometimes it is part of turbo Lister.

JCMhouston

What difference does buying it at $300 or $310 make? If that $10 was causing me to second guess myself then I would be worried I was buying coins too expensive for my checkbook.

frnklnlvr

Yes the seller can set the best offer to accept or decline automatically at a certain price.

If you made an offer that you thought you were happy with then I wouldn't worry about it. Whether the seller has it set automatically or whether he has to respond there's still a chance you could have gotten it for a little bit less.

coinpictures

Been there done that. Made an offer and it was instantly accepted. My first thought was "dang, shoulda offered less!"

coinmanic

I have seen a great deal at the buy it now price, but offered 10% less to see if it would be automatically accepted. if not, i hit the buy it now.