To find out what happens with a Best Offer, please read on.....
Advantages and Disadvantages of Buy it Now or Best Offer
I am sure many of you will have seen that some Buy it Now listings on eBay,are shown with a Best Offer facility which gives the potential purchaser the opportunity to make an offer below the advertised price and possibly grab a bargain whereas in an auction the price can carry on going up. When considering what offer to make it can pay to do some research first.
Is the item I am looking at New or Used, Antique or a Collectable, is the postage excessive or can I collect in person are just a few of the things to take into consideration. Are similar items being sold on eBay and what are they fetching ? (Do an Advanced Search and tick the completed listings box to get those results).
* When you have done your research, then consider putting in an offer But also consider whether the offer you are about to make might seem insulting to the seller. If for instance he has an Antique Table or a modern LCD Television priced at £350 he is unlikely to accept £25 for it and putting in such a low offer, might just mean the seller ignores you and does not even offer you a counter offer facility. In my experience offering anything less than half price is unlikely to succeed but offer a reasonable offer and it might, eg, £80 on a £100 item rather than £15 on a £100 item. The seller might also make you a counter offer as well if he feels that your offer is close to what he will actually take.
# When you make your offer, the seller has up to 48 hours to decide whether to accept or not, or make you a counter offer for your consideration. During this time someone else might make a better offer or even decide that the item is just what they have been looking for and press the BUY IT NOW Button instead.
# Under eBay rules when you make an offer your ID is hidden from the seller but it is very often worth emailing the seller to see if he is flexible in any way, for example his delivery charges if you are buying more than one item or even want a piece of Furniture delivered. That way you might end up with the item you wanted but with free delivery. Both you and the seller are happy! #
# Another VERY important point to consider is when to make your offer. If you leave it too late someone might just beat you to it!
# Many sellers do not sit permanently in front of a computer screen and if you chose to make an offer in the closing minutes of an auction it is unlikely that it will either be seen or have the chance of being accepted. Some purchasers also think that these best offer listings can be Sniped by putting in a crazy low offer at the very last second, we know of one instance of someone offering £101 on a £3,750 listing. It does not work. Most sellers also set auto decline to decline offers below the amount they would consider reasonable.
# Please also be aware that any offer you make, if accepted is legally binding. Some sellers also set limits that will also automatically accept or decline offers, these are legally binding too. I hope that you have enjoyed reading it and found it to be helpful.
If you have any comments to make on my guide please feel free to email me and I will try my best to help.
All the best and good luck to all who trade on eBay in an enjoyable and friendly community.
Adrian Jennings (nthctraders)