What is " lowball"

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. :)

To me OBO means I would like to get my asking price. If I can not get this price, then what is your offer? Most reasonable buyers typically offer my asking price. If they have a good vibe, I typically will pick up or offer to split shipping if the item is heavy. If I detect that they are just trying to gouge me by offering a lowball and really don't want the piece but are just looking for a deal, I try to get them to pass. If someone wants something that is priced at market, they should be willing to pay the market price. If not, they really don't want it.