Bidding Frustration

I would contact the person to whom I sent a counter and asked them to let me know as soon as possible if I received another offer and told them the time frame I needed a response or I would move on. To me that would be the honorable thing to do.

I never bid on anything for two reasons: First, there is always the possibility of someone outbidding you-fun for the seller, not fun for you; Second, many auction items begin where I think the normal resale price should be. Some slick sellers are hoping to snag a newbie at an inflated price out of ignorance. Very unethical!

I once went to see a Sony CD player at a sellers home and we agreed on a price and shook hands with an agreement to meet the next day with my cash in hand. I called the next day to confirm our appointment and found that he had sold it to someone else. I can't reveal the right word for that except that it starts with "B" and ends with "T".

I would contact the person to whom I sent a counter and asked them to let me know as soon as possible if I received another offer and told them the time frame I needed a response or I would move on. To me that would be the honorable thing to do.

Then as a seller, you must put the other offer on hold, and give him time to rethink and withdraw his offer, and then the guy you countered says no within the "time frame." Now as the seller, your item is still "for sale."

Your scenario would probably work among friends, but not on an open market. Suppose you make an offer on a used car, then the owner counters, but you leave to think about it, and when you return, the car has been sold. As Pbnaudio said, "You snooze you loose."

IMHO, if I gave someone a counter offer, and did not hear from them for half a day, I would assume the answer was no, regardless of Audiogon's time frame.

I agree--it's snooze you lose. That being said, I think that should be more clearly spelled out. In real estate, a counter-offer (written) is binding should the buyer accept it.

I think Audiogon (or at least Audiogoners) should make it clear that, hey, here's my counter but if someone else comes along with a better or full price offer, then I'm gonna take it.