What is " lowball"

Viridian, I'm not sure I understand your viewpoint, and I want to. As an example, let's say twelve CD players of identical make and model have sold within three months for an average of X dollars. One sold for 20% less than X and another sold for 20% more than X, but the other ten sold for +/- 5% of X. Would you agree that the market has determined the value of the CD player to be X? And, if this is the market value, then wouldn't an offer of 50% of X be "lowball"? Or, are you suggesting that the market value is determined anew each time one of these CD players comes up for sale, and the offer of 50% of X is just a starting point to determine the new value?

Yes Tvad, I am suggesting that, with a limited pool of buyers for a specialist product, the market determines a "spot" price for the item, which is different for each like item sold depending on the supply and demand at the time of the sale.
Marty

OK, Marty, I see your point. However, I'll agree with Don that even given a limited market, and a limited sales history, a 50% offer is lowball if the item is priced close to previous sales.

Now, I'll also agree that a lowball offer is as valid as any other offer and worthy of response. But, I sure haven't come across any Audiogon sellers that have been willing to continue negotiating with an offer that was far more generous than 50% of the asking price.

50 % is way low I agree, and would never make an offer that low. I always try to make an offer consistent with prices I've seen recently and use that average as a start, buying or selling. I want to get a good price and thought it was because I love money, but I was reading the post above and found out that I have a genetic disposition towards being tight because of my race. Now I don't feel nearly as responsible for my behavior. Great responses, I never thought this post would draw the race card.

Mthieme, you mean you're Scottish? Like my great, great grandfather. :)