What to do with very low offer on an item for sale


I am pretty new to selling on Audiogon and with a component I have received an offer of 25% of the price; I had chosen a price, including shipping, at the low end of what I have seen on HiFi shark.

If someone with more experience than I could help; do I ignore it or come back with a sensible (10% perhaps) discount on my price.

Thanks for advice

 

retiredaudioguy

I am frankly puzzled by this thread.  If someone gives a lowball offer, they are either not serious or they are seeing if they can get a steal.  Who cares?  Either ignore it or, as I have done, simply respond politely that that is simply not feasible, but I will accept $X.  No reason to get upset about it or take it personally.  A buyer never knows.  Maybe the seller has fallen on hard times and needs to liquidate it quickly, in which case there is a great deal to be had.  Don't get offended.

If informal market research (ie, HiFiShark) reveals that your item is dramatically overpriced, lower the price to market level.

But assuming your price already is market level--IGNORE THE LOW-BALLER.

This gets back to the adage "what is anything worth...what others are willing to pay".

One time I had an item for sale on Audiogon and the "buyer" used their "in mail" to send his cell number, saying he had too many questions to send "in mails", we went back and forth and agreed on a price and he made the 90 minute drive to buy the item, but when he arrived in my driveway said that he thought about it and was only willing to offer me $600 less than we discussed.  Of course I sent him packing.  What I learned from this is that if someone is interested in making an offer, have them do so "officially" using the Audiogon site.  In my mind there's no big deal to refuse any offer, just that it's best that it be posted on the site.