Sunday morning Reverb Rant

[CT77]

Reverb isn't exactly innocent in all this. They benefit from price reductions that lead to quick sales more than sellers do, just like Realtors with houses. That's why they push you to accept offers when you list an item (the listing form actually complains when you turn off "accept offers"). Further, their default for auto-rejection of offers is low - I believe it's only around 65%. Increasing this threshold to something reasonable, like 85-90%, works wonders for separating the good vs bad offers.

Personally, I think accept offers should be off by default. Then it would be more like selling on the forums, where buyers would be forced to - gasp - communicate and think - in order to make an offer, processes which tend to attract the more serious buyers.

[semi75]

Originally Posted by Rudy4

Very true!



Years ago I listed a house and had an offer for a full 50 thousand less than the listing price. It made me extremely angry at the time and I told the listing agent to throw it in the garbage. She (wisely) advised me to step back and consider they were new to the real estate market and counter to them.

They accepted my counter-offer of $500 less than the listing price.

Ive bought a few houses over the last 20 years and sold a few and I’ve offered 40k less than asking and worked out deals somewhere close to my offer in the right circumstances. If the property is unique and possibly have been on the market for awhile I don’t mind making or entertaining a low offer because it’s a starting point. Heck I’ve sold a house at 45k less than asking because it was a cash close with no contingencies. It’s amazing that some folks will pay asking price on a house but want closing costs paid plus a million little small additions that really add up. I went a little off topic there.

It seems to me that many of the used prices of reverb are listed too high. Probably has a lot to do with the reverb fees and policies.

[JackB1]

Easy fix....just don't check "allow offers".

Folks will lowball you everywhere you go, trying to get lucky. You think Reverb is bad, try having a garage sale...."Would you take $25 for that jet ski?"

Originally Posted by Slothead56

Actually, this is more a rant about people ON Reverb.

I don’t do a a lot of horse trading. Every listing I’ve ever put up is researched and fairly priced, including the 3 guitars I currently have up. Every listing says “respectful offers considered”.

So why do some folks seem compelled to ridiculously lowball prices? I mean seriously offering 40-50% less than my asking price is an insult (from a stranger-I get it).

Secondly, if I respond with a counter have the stones to reject if you’re not interested instead of just letting it hang for 24 hours.

Now, before I get totally flamed, I know that a) this is pretty minor in the scheme of things, b) typical and natural human behavior c) that everybody wants to get lucky and d) pretty minor in the scheme of things.

I needs another cup of coffee. Rant over.

[jim1960]

Originally Posted by Brent Hahn

Agreed. I've come to learn, though, that when selling to a "tactician," it's not always over when you think it's over. Things arrive "broken" or "not as described" or they don't arrive at all. With Reverb and eBay backing the buyer to the hilt these days, if my spidey sense is tingling at all I'll just tell the potential buyer no thanks, please shop elsewhere.

I'm sure that happens but that hasn't been my experience ...not yet anyway. My worst experience was in selling an Oktava MK-319 which was returned because the buyer said it sounded thin and something was wrong with it. I tested it before I sent it and after I got it back. Nothing was wrong with it. No idea why the buyer actually changed their mind. He paid the shipping back to me so in the end it wasn't a bad hit on my wallet.

On the buying end, I figure it doesn't hurt to ask. For instance, on a new elysia xfilter 500 listed by one of the well known shops for $975, I put in an offer of $780, they countered with $850 and we eventually agreed on $830. That really minimizes the loss I'd take should I decide to part with it one day. It's just the way business is conducted in some sectors. I'll be leasing a new ride in December. They'll throw me a number in the $600s and I'll walk out of there paying something in the $400s.

I've no idea why we have negotiations on some products or in some marketplaces while on other products and in some marketplaces the prices are firm. It would be interesting to read how these dual systems came to co-exist.

[phcorrigan]

Originally Posted by Slothead56

So why do some folks seem compelled to ridiculously lowball prices? I mean seriously offering 40-50% less than my asking price is an insult (from a stranger-I get it).

A couple of years ago I was selling a car. One guy came to look at it, and then, of course wanted to drive it. I handed him the keys and jumped in the passenger seat, and he proceeded to drive like a madman. At one point I had to tell him to slow down.

When we got back he offered my half of what I was asking. I said "No." It was obvious he was a car flipper, and was looking for bargains to resell. Some people can do this without being jerks, but he wasn't one of them.

I suspect most of those low-ball buyers fall into the same category--they are looking for bargains to resell and are less than artful about it.