(Topic ID: 100974)

The true meaning of the terms FIRM and OBO?

By Piparoo

9 years ago


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    #128 9 years ago

    Op,
    I have started using ORBO, spelled out , Or Reasonable Best Offer

    If you saw ORBO, would you think something different then OBO?

    I know why I'm using ORBO, just curious on your interpretation

    #132 9 years ago
    Quoted from ovfdfireman:

    As for ORBO
    (1) the seller doesn't know what the true "reasonable" value of their item is and they are fishing,
    (2) "reasonably" desperate to sell, pure and simple

    Thanks for your interpretation.

    I was going with reasonable, as in fair, and rational, or with merit. In example,
    $2,500 ORBO, meaning I the seller have an idea of how much they cost to be replaced.

    *If* I was disparate to sell, I'd price it like a fire sale, and have in gone in under an hour.

    #136 9 years ago
    Quoted from fosaisu:

    What's the point? OBO already means the same thing as ORBO. Of course you and the potential buyer may not agree on what's "reasonable" with regard to your item, but I doubt anyone adds OBO to their add with the intention of selling their item for an "unreasonable" price.

    The point is hopefully to weed out the low-ballers that offer 15%-25% (or whatever) of your asking price.

    just 'Best Offer' implies you are running an auction, and the highest bidder, no matter how low, could be accepted.
    With that, the low ball 25% might win.

    Just me; best wishes to all on their transactions. May you never drive 3 hours, to see your deal fall through.

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