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View Full Version : What is your definition of OBO ?



chillywilly
10-07-2014, 05:58 PM
I recently saw a uke on this forum i was interested in. Seller had listing along with the price and "or OBO". I sent a PM asking what the rock bottom price would be. I was given a price and said thank you but unable to swing that right now. I was then asked to give an offer. I did. I was told there was another offer that was greater. Ok...thank you i said. Then the uke went off to Ebay. And, now is back, at less than the alleged higher offer than mine. To me, OBO, means Or Best Offer.. and i guess that would mean if you had no offers, one offer would be the best.
And, before you wisenheimers out there start...i know OBO is NOT a woodwind instrument....:cool:

VegasGeorge
10-07-2014, 06:05 PM
Well, "OBO" does mean "Or Best Offer." So, most folks think that the seller will sell to whoever offers the most. But they fail to take into account the fact that an "offer" is just that, only an offer. There is no binding agreement until the offer is accepted. Some might argue that the OBO represents an express or implied promise that the highest offer will be accepted. But that isn't the law. So really, an "OBO" indication is essentially meaningless. It's really just the seller trying to encourage prospective buyers to make offers.

JonThysell
10-07-2014, 07:45 PM
I've always taken OBO to mean that offers are encouraged, that the seller isn't firm on the price, not that the highest offer will be accepted automatically. Otherwise it's an auction without a time limit, which doesn't make sense.

igorthebarbarian
10-07-2014, 07:47 PM
I always think OBO means round down to the next major $.... so if someone on Craigslist has something for $140 OBO, to me that means $100.... If it's $60 OBO, then round down to $40 let's say. Put "Firm" if you're actually firm on it.

janeray1940
10-07-2014, 08:03 PM
Back in another century and long before the internet, I worked for a classified ads publication in which "OBO" was clearly indicated to mean "or best offer" - we even printed a glossary of common abbreviations when there was space. But I was always amazed at how many people mistakenly thought it meant "or BETTER offer" which is what they would state verbally when phoning in their classified ad. I would always point out that "OBO" generally meant they were open to a LESSER offer, not a better one. Funny how just a couple of letters can change the meaning of things entirely!

hollisdwyer
10-08-2014, 12:27 AM
Well, "OBO" does mean "Or Best Offer." So, most folks think that the seller will sell to whoever offers the most. But they fail to take into account the fact that an "offer" is just that, only an offer. There is no binding agreement until the offer is accepted. Some might argue that the OBO represents an express or implied promise that the highest offer will be accepted. But that isn't the law. So really, an "OBO" indication is essentially meaningless. It's really just the seller trying to encourage prospective buyers to make offers.

Memories of that class where I learnt about Torts and what a contract was and wasn't.

Sporin
10-08-2014, 02:37 AM
I've always taken OBO to mean that offers are encouraged, that the seller isn't firm on the price, not that the highest offer will be accepted automatically. Otherwise it's an auction without a time limit, which doesn't make sense.

This /\/\/\ It's means make an offer and they might sell it for that price. Not make and offer and they are obligated to sell it to you for that price. You could offer them full price and they still aren't obligated to sell it to you.

PhilUSAFRet
10-08-2014, 03:14 AM
When I see OBO, I just assume there is, more or less, a minimum price the seller will not go below, and that they have a certain period of time, after which they will accept the best offer from however many offers they receive that is above their minimum. Whew! That was a mouth full.

clement1
10-08-2014, 03:27 AM
The meaning of OBO is - One by One. It is a internet slang word and some people called OBO is "Or Best Offer" .

johninmass
10-08-2014, 04:06 AM
Wouldn't be wiser and clearer if the seller used BRO or Best Reasonable Offer? If not sure if BRO is correct, so I would spell it out.

Rllink
10-08-2014, 04:45 AM
Years ago I was looking at a car on a car dealer's used car lot and I asked how much they wanted for it. The salesman kept saying "just make us an offer, we need to move it, make an offer." He wouldn't give me a price, so I said a dollar. He actually took it to the sales manager. Then he returned after a long time, like they either actually considered it, or they went to coffee, and he said that the sales manager couldn't let it go for a dollar, but to give them a higher offer. I told him two dollars. I don't remember what happened then, but I didn't buy the car.

UkerDanno
10-08-2014, 05:17 AM
I agree with most of your post, especially...

It's really just the seller trying to encourage prospective buyers to make offers. :shaka:

Tudorp
10-08-2014, 05:36 AM
Years ago I was looking at a car on a car dealer's used car lot and I asked how much they wanted for it. The salesman kept saying "just make us an offer, we need to move it, make an offer." He wouldn't give me a price, so I said a dollar. He actually took it to the sales manager. Then he returned after a long time, like they either actually considered it, or they went to coffee, and he said that the sales manager couldn't let it go for a dollar, but to give them a higher offer. I told him two dollars. I don't remember what happened then, but I didn't buy the car.

Sounds like something I would pull.. lol.. I have actually had a very similar used car experience years ago. I just told the salesman that if he didn't start the negotiations with a price, then we had nothing more to talk about. I simply feel that as a seller, the seller should put that initial $$ value on their item. And the negotiations start from there. If someone doesn't put any $$ on their item, I consider that they feel it has no value, so I won't give them anything for it. Just a personal policy of mine. You value your item, place that value on it, only then I will tell you what I value it at for me. We'll either agree, or not, or find that happy medium between those two values. period.

PhilUSAFRet
10-08-2014, 07:44 AM
The meaning of OBO is - One by One. It is a internet slang word and some people called OBO is "Or Best Offer" .

Says who???? http://www.internetslang.com/OBO-meaning-definition.asp - says nothing about One by One

https://answers.yahoo.com/question/index?qid=20061113102334AAJikyS - Or Best Offer

Etc. http://www.urbandictionary.com/define.php?term=obo

Can find no support for "One By One"....must be some obscure acronym that thumb pushers adopted.

stevepetergal
10-08-2014, 09:14 AM
OBO means offer half of what you guess would be that rock bottom price. (Asking is a waste of time) Promise yourself you'll be only half as offended as the seller is when he/she responds, and then negotiations can begin.

Dan Uke
10-08-2014, 09:17 AM
I recently saw a uke on this forum i was interested in. Seller had listing along with the price and "or OBO". I sent a PM asking what the rock bottom price would be. I was given a price and said thank you but unable to swing that right now. I was then asked to give an offer. I did. I was told there was another offer that was greater. Ok...thank you i said. Then the uke went off to Ebay. And, now is back, at less than the alleged higher offer than mine. To me, OBO, means Or Best Offer.. and i guess that would mean if you had no offers, one offer would be the best.
And, before you wisenheimers out there start...i know OBO is NOT a woodwind instrument....:cool:

Many things could have happened as there's no consideration to be a contract. OBO means or best offer acceptable to the seller. This isn't ebay with no reserve...just move on

The other higher offer could have backed out and the seller didn't contact you as yours was too low. Who knows?? I personally find it insulting when someone low balls you even though I do it too! :p

Rllink
10-08-2014, 09:45 AM
Many things could have happened as there's no consideration to be a contract. OBO means or best offer acceptable to the seller. This isn't ebay with no reserve...just move on

The other higher offer could have backed out and the seller didn't contact you as yours was too low. Who knows?? I personally find it insulting when someone low balls you even though I do it too! :pA few weeks ago I was at a garage sale and they had a Marshall Amp and a Peavey Guitar for sale. Asking price $20. So when I walked up the drive, the woman told me if I saw anything I wanted there, that she was open to offers. I bought the guitar and amp. I have to say that I would have been embarrassed to offer her less than $20 for the guitar and the amp. If fact, I was almost embarrassed to pay $20 for it all. But I was talking to a guy at coffee the other day, and he told me I should have offered her $15, to see if she would have taken it. Man, how cheap does a guy have to be?

Nickie
10-08-2014, 01:48 PM
The first time I saw STFU, I didn't know WTH it meant. Nor OBO. I don't use it. I use "whatever you'd like to offer". But then, I don't pay for ads, I use Craigslist.

I think it is okay to give someone in a yard sale the asking price, the stuff is usually priced at 10% of it's actual street value. That doesn't mean the price goes up when you take it from the yard to the car parked on the street, either.

I did offer a guy $3 for a $4 blender a while back, cause I dind't have $4. He took it. I would gladly have given him $4 if I'd had it, the thing still works!

Ukejenny
10-08-2014, 01:59 PM
Similar to what others have stated above, my definition would be a motivated seller who is willing to look at offers below the price being asked. Whether they take such an offer or not is totally up to them, but I've got nothing to lose by making an offer. If they say no, I'm no worse off than not making an offer at all.

moetrout
10-09-2014, 05:44 AM
I sell stuff on Craigslist from time to time and will often put things up with a price and OBO. This to me says here is a price as a starting point. If you offer me that price it is yours. If it's me doing the buying, a stated price with OBO is the starting point. I never offer them full price if there's OBO, unless, like the garage sale guitar above, it is ridiculously under priced and I know it. I usually start at half. I think stating a price with OBO helps people to know if the price they are thinking of offering is in the ballpark.

Rllink
10-09-2014, 06:17 AM
I sell stuff on Craigslist from time to time and will often put things up with a price and OBO. This to me says here is a price as a starting point. If you offer me that price it is yours. If it's me doing the buying, a stated price with OBO is the starting point. I never offer them full price if there's OBO, unless, like the garage sale guitar above, it is ridiculously under priced and I know it. I usually start at half. I think stating a price with OBO helps people to know if the price they are thinking of offering is in the ballpark.
I generally negotiate, even if it doesn't say OBO. The guitar and amp were just already so low. That was an exception.

chillywilly
10-10-2014, 04:51 PM
Thank you all for your input. I learned a couple of things. And I did move on. I REALLY didn't need another one....of course that's according to the wife...

IamNoMan
10-10-2014, 05:58 PM
Wouldn't be wiser and clearer if the seller used BRO or Best Reasonable Offer? If not sure if BRO is correct, so I would spell it out.
It is clearer and wiser to spell out what you mean in financial transactions. OBO goes back to the days of paper and ink publishing when advertising was sold on a column inch basis. This doesn't really apply in the internet publishing era.

itsme
10-10-2014, 06:31 PM
I generally negotiate, even if it doesn't say OBO.
Well, if they say "firm" I know they're not open to negotiating.

Generally, there's no harm in asking if they'll take less, and there's sometimes a counteroffer or two involved.

But to completely lowball someone is an insult.

I go to yard sales a lot... some people offer good stuff dirt cheap, in which case I generally pay the asking price because it's more than fair to begin with. Other times people have such an inflated idea of what their junk is worth that it's ridiculous and I won't even bother with an offer. Most stuff lies somewhere inbetween.

Tootler
10-10-2014, 10:25 PM
I've not come across OBO before. Over here in the UK it was ONO - "Or Nearest Offer" As one recent post said it comes from the days of small ads in local newspaper or cards in a newsagent's shop window. I've not seen the term used here for a long time.

IamNoMan
10-11-2014, 04:43 AM
So how often do offer above the asking price. To me this is an ethical question as much as anything else.

A while ago my handy-man stopped by. He had just cleaned out an old house and obtained a fiddle an electric guitar and a Gibson Mastertone banjo, (in good condition I might add). Rob knows I play the banjo and asked me if I was interested. I asked his asking price. I realized that if I took him up on the offer I could turn around and sell it for 10x his price, without looking at the serial number. Or I could invest an equal amount of money in Scruggs Tuners, a fifth string capo and a good hardshell case. I play open back banjos and the mastertone is a very heavy banjo but.... What to do? I told Rob the approximate worth of the banjo and suggested he sell it on the internet. I also said I would spread the word and take a finders fee if he wanted to sell it locally. The finders fee would have been higher than his original asking price.

Where do you draw the line?

epilog: About a month later I bought my first uke instead. A 1T Martin tenor brand new and at 60% of list price. AND now you poor folk have to deal with my rants.;)

ps: Oh, and I might still get the finders fee. Anyone interested?

Rllink
10-11-2014, 06:03 AM
Hear, hear! One of my pet peeves: if I put "firm" in an ad, I've explicitly gone beyond saying "or best offer" or just stating a price; I mean firm, and no one should doubt I mean it. I'm insulted if someone tries to offer me less: it means they think I'm either a bluffer, a cheat or a pushover. I know the price I ask is more than fair, and someone else will buy it. If they think a firm price is flexible, I'm happy to flex it—up.My neighbor had a 1967 Camaro for sale. A guy calls up and tells my neighbor that he wants to drive up from Kansas City to look at it and tells the neighbor to not sell it as he doesn't want to make the three hour drive for nothing. So the guy from KC shows up that evening driving a big Ford F-250 with a car trailer hitched to it. He gets out, looks at the Camaro, and offers my neighbor $500 less than he had it advertised for.

sam13
10-11-2014, 10:21 AM
If the end goal is to sell the uke after trying it, then you make THAT money when purchasing it. The lower the OBO the better for the buyer when he/she resells.

But they are always out shipping and taxes ...

Larry D.
10-11-2014, 05:36 PM
[QUOTE=itsme;1588713]Well, if they say "firm" I know they're not open to negotiating.

My wife owned a car lot for 20+ years. She would put the price of the car on the windshield and that was the price she wanted. She would only mark up the cars a couple hundred dollars and her lot was known for "good deals". I would laugh when someone came in and attempted to "low ball" her. The price on the windshield would then go up. More than once a customer would agree with the original price for when they shopped around some would realize there were some good deals on the lot.

I would "pity the fool" when she did see a car she wanted.....she had no fear to make a ridiculous offer and drag a new treasure home. I never had that courage. If the seller said....OBO....it was open season for her.....lol