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Offers: How it works
Firm versus OBO (Or Best Offer)
Listings will display an Asking Price, with either "obo" or "firm" next to the price. Generally speaking, OBO means "or best Offer up to my asking price", while FIRM indicates very little room for negotiation. A Seller is expected to sell to the first Buyer to meet their asking price and other terms. However, a Seller may Accept or Decline any Offer for any reason.
Before submitting an Offer
A Buyer should first email the Seller with any questions, and conduct their own research about the item and the Seller. If there is continued interest, then the Buyer should submit a formal Offer to finalize the details. If an Offer is Accepted by a Seller, then the Buyer is obligated to purchase the item as per the Offer. Thus, a Buyer should submit only as many Offers as s/he is able to complete, even if they are all Accepted.
The Offer mechanism
- Seller posts an item with an Asking price.
- Buyer emails a Seller with questions.
- Buyer submits an Offer, including price, their location, how they will pay, Offer expiration, etc.
- Seller may Accept, Decline, or make a Counteroffer to any Offer received.
- If an Offer is Accepted within the specified time, then a deal has been struck.
- If the Seller Declines or fails to act before an Offer expires, then there is no deal.
- Seller may submit a Counteroffer, which the Buyer may Accept or Decline.
- Any Offer (or Counteroffer) Accepted by both parties is considered a binding agreement.
The Seller may Accept / Decline / Counter
Upon receiving an Offer, the Seller may take one of three actions before the Offer expires. If the Seller fails to act before the Offer expires, it is treated as if it was Declined. If the Offer is Accepted, then a Transaction will be initiated. If the Offer is Declined, both parties are relieved of any obligations. If the Seller submits a Counteroffer, it will also have a specific duration, and the Buyer may choose to Accept or Decline the Counteroffer.
Email Notifications
Our system sends an email to both parties after each action. When a Buyer submits an Offer, the Seller will receive an email notification and the Buyer will receive a copy. If the Seller Accepts or Declines an Offer, the Buyer will receive an email indicating the result. If the Seller makes a Counteroffer, the Buyer will be emailed, and the Seller will receive a copy. Thus, emails will alert you to the other party's decision.
Useful Classified Information
The current number of Offers and views are displayed on each classified ad. This gives Buyers and Sellers valuable information regarding how to proceed. If a Buyer sees many Offers on a desired item, then the best strategy is to make the best Offer they have available immediately. Likewise, if a seller wants to sell an item and discovers a similar item listed with many Offers; he would want to list the item immediately. The number of views shows how many people have seen the ad indicating the general interest of the item.
Buyer access in MyPage
If you submit any Offers, you will find them in your MyPage through the "Currently Open" link under Offers to Buy. You will be able to view all Offers and contact the Seller if necessary. If the Seller Accepts your Offer, then you have made a purchase and your MyPage will show a "Pending Order" for that item.
Seller access in MyPage
A Seller may lookup Offers in one of two ways: "Active Classifieds" or "Pending Leads". You can view all Offers for a particular item by finding that item through the "Active ads" link available under Classifieds. Otherwise, you can view all outstanding Offers through the "Pending Offers" link listed under Leads.
More about Offers
Overview
Audiogon rules
Expected Etiquette
