What is your definition of OBO ?

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chillywilly

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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:
 
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.
 
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.
 
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.
 
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!
 
VegasGeorge said:
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.
Click to expand...

Memories of that class where I learnt about Torts and what a contract was and wasn't.
 
JonThysell said:
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.
Click to expand...

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.
 
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.
 
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.
 
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.
 
I agree with most of your post, especially...
VegasGeorge said:
It's really just the seller trying to encourage prospective buyers to make offers.
Click to expand...
:shaka:
 
Rllink said:
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.
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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.
 
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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.
 
chillywilly said:
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:
Click to expand...

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
 
nongdam said:
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
Click to expand...
A 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?
 
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!
 
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.
 
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.
 
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