Quoted from usandthem:When you advertise that you'll take "best offer" and then don't, that's stupid. Otherwise, it should be called an auction with a reserve. I realize that in reality that that's not how it really plays out, but it should. Otherwise, why say OBO if you don't really mean it? Or perhaps you should say "OBO unless you're offer is less the $X, then don't bother" or something to that effect. Otherwise, OBO means that offer is game.
Except the options are OBO or Firm. So, to me, OBO expresses a willingness to go down a little within reason if that’s really the best offer you got. I don’t think you should have to say not to go below a certain amount because doing so telegraphs your bottom line, never a smart thing to do when negotiating.
