The issue of lowballing... What does that mean?

Superbike,

Your idea of the value of a product, regardless of audio, or motor vehicle, or whatever, is realistic. You strike me as a good person to deal with.

Just for the record, I'm not talking about 30 cents on the dollar for what something was new. Most people are pretty realistic about what they ask for things. I was speaking of the offers for 10% of that price. For example, a $7500 pre/pro. (original MSRP) listed at $2500, and maybe the guy has 2k in his head for bottom dollar. Then an offer of $299 comes in. What would you call that? I'm not opposed to someone that's looking for a deal. I do it myself, but, IMO, when offers that low come in, there is no chance we can reach an agreement. I simply can't believe anyone really thinks they can get something for those kind of offers.

I don't mean to be combative. If my comments are perceived that way, I'm sorry. I list a fair amount of items, and get so many crazy offers these days that its something I deal with on a daily basis.

Well we still haven't decided what the definition of a lowball is beyond the most blantant examples and virtually anything below the asking. (Less than 10% below asking see Polk's last post)
I tried to think of a good way to put a price on something but was only able to return to the oft said, anything no matter what it is -is worth what someone will pay for it. There are too many variables. Even my own thinking that a used item should be priced at its wholesale price of approx 50% of full retail is challenged by scarcity, condition, age ,product support, ease of shiping, etc. etc. That such offers are not lowballs in my mind but clearly are to others.
If our auctions functioned as well as they possibly could then perhaps that would answer the question. However the seller would put a reserve on anything of substantial value to him and lowballs would be all the bids below that figure.
So we have yet to agree on any convention in this regard. Given that how can you fault some one for an offer that is anything not patently ridiculous.

Thanks All!

Sorry if this is a dupe posting to this thread. I'm trying to get this out there as I'm tired of getting hit with lowballers.

FYI

Audiogon has now defined lowball offers to be 55%.

I don’t know if you all saw this but I got an e-mail from A’gon stating they have a new feature in place to hinder insane lowball offers.

After you log in go to your Account and select Edit Account. Then scroll down in the Policies section there is a check box to automatically reject lowball offers.


Policies

Lowball offers

Automatically reject offers below 55% of your asking price.

I wish this could be user specific. I would have set this to 45% off of listing price for my tastes but it is a start for Audiogon. I hope this button works and deters the stupidity of the lowball offers some people send.

Thanks