(Topic ID: 185954)

What Does (OBO) and (FIRM) Mean?


By ResidentEvil7

2 years ago



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  • 17 posts
  • 13 Pinsiders participating
  • Latest reply 2 years ago by CNKay
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    #1 2 years ago

    First off it's great to be a part of Pinside. I'm hoping to plan on building myself a pinball and arcade collection some day. I was directed to this site from some pinball collector on YouTube. I didn't realize that prices on this site were so competitive compared to other sites.

    Anyway...

    I need to know something. Next to the prices on the pinball ads is an acronym (OBO) and (FIRM) and I want to know is what does it translate to and what is the difference? Since I don't speak acronym, I need a translation.

    #2 2 years ago

    OBO = Or Best Offer

    Firm = no negotiation. That is the least amount that will be accepted for the sale of the game

    #3 2 years ago

    FIRM - This is the price I want and please don't haggle

    OBO - Or Best Offer - I will take a lower

    OBRO - Or Best Reasonable Offer - I will take a little lower, but please don't try and Low Ball me.

    #4 2 years ago

    Thanks. That was fast.

    #5 2 years ago

    And don't think that FIRM always means firm. I've seen some FIRM sellers that keep lowering their firm price. So, if it sits long enough and they want to sell, they'll negotiate.

    #6 2 years ago

    I've always found "FIRM" to be a bad business move. People like feeling like they got a deal, especially when spending thousands of dollars.

    If you truly are firm on your price, price it just a little bit higher than that, and let your would-be buyer haggle you down to your firm price.

    You get what you wanted, and the buyer feels good about themselves for negotiating a better price. Win-win.

    The only time it makes sense IMO is when you've already lowered the price a few times, and you've truly reached the point where you're just looking to get your "rock bottom" price.

    #7 2 years ago

    OBO = I know my price is probably too high.
    FIRM = Don't bother lowballing me, jackass.

    #8 2 years ago

    Not being rude and there is a lot of things I don't know that others do but how does a grown man not know what FIRM and OBO means?

    #9 2 years ago

    "I....don't....bargain"

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    #10 2 years ago
    Quoted from Taxman:

    FIRM - This is the price I want and please don't haggle
    OBO - Or Best Offer - I will take a lower
    OBRO - Or Best Reasonable Offer - I will take a little lower, but please don't try and Low Ball me.

    And I don't believe OBO even means what it stands for. In theory, the seller should be obligated to sell for whatever the highest offer ends up being. But they don't. People should instead use OMO (or make offer). But, as it's not a public Auction, no one but the seller knows what the offers end up being.

    #11 2 years ago
    Quoted from 30FathomDave:

    I've always found "FIRM" to be a bad business move. People like feeling like they got a deal, especially when spending thousands of dollars.

    It depends on where you're pricing it and your tolerance for hassle. If your firm price is below market price, it can sometimes help generate more interest since there is a set of buyers who won't make a lowball offer on an overpriced OBO pin. Plus some of the lowballers can be a PITA to deal with since these guys show up at your house and then they start to nickel & dime some more. Another common use for "FIRM" would be if you want to run your ad like a Dutch auction.

    #12 2 years ago
    Quoted from zr11990:

    Not being rude and there is a lot of things I don't know that others do but how does a grown man not know what FIRM and OBO means?

    Probably because english is not his 1st language?! Not everyone is from Texas ya'know

    #13 2 years ago
    Quoted from Dee-Bow:

    Probably because english is not his 1st language?! Not everyone is from Texas ya'know

    I didn't realize he wasn't from the U.S.. He writes better than a lot of people whose primary language is English, including myself. I can't spell for shit.

    #14 2 years ago
    Quoted from 30FathomDave:

    I've always found "FIRM" to be a bad business move. People like feeling like they got a deal, especially when spending thousands of dollars.
    If you truly are firm on your price, price it just a little bit higher than that, and let your would-be buyer haggle you down to your firm price.
    You get what you wanted, and the buyer feels good about themselves for negotiating a better price. Win-win.
    The only time it makes sense IMO is when you've already lowered the price a few times, and you've truly reached the point where you're just looking to get your "rock bottom" price.

    I don't understand this. If priced reasonably, you either want it or you don't. Cut the crapola and either buy it or don't.
    Expecting a few hundred off is fine on an OBO pricing, but when it's priced reasonably and labeled as firm I find it "bad business" by the buyer to insist on that same few hundred dollars off on the firm price. Sure, it never hurts to ask, but some sellers prefer to skip the haggling nonsense when it's time to sell an item. Most collectors know what price will sell a game and what price will not.

    #15 2 years ago
    Quoted from Agent_Hero:

    I don't understand this. If priced reasonably, you either want it or you don't. Cut the crapola and either buy it or don't.
    Expecting a few hundred off is fine on an OBO pricing, but when it's priced reasonably and labeled as firm I find it "bad business" by the buyer to insist on that same few hundred dollars off on the firm price. Sure, it never hurts to ask, but some sellers prefer to skip the haggling nonsense when it's time to sell an item. Most collectors know what price will sell a game and what price will not.

    Oh, I agree. If a game is priced reasonably, hagglers risk losing out to someone who's willing to pay a fair price. I've gotten many games that were priced fairly by telling the seller "That's a great deal, and I'm not even going to try to haggle you. I'll take it for your full asking price. I'll be there in 30 minutes with the cash."

    I guess my point was more about enticing would-be buyers to reach out (and I totally get the reverse of this: not wanting to deal with tire-kickers). It's like if you're selling something on eBay, it's usually a smart move to start the auction a little lower than what you actually want to sell it for, because once people bid, that desire to "win" kicks in, and they're suddenly willing to pay more once they feel like they might lose. I've listed things for sale at the price I wanted and gotten zero bidders, and then re-list it for less... and then it winds up selling for more than I listed it for the first time around because competition became a factor. Selling stuff in a non-auction environment can kind of work the same way, but instead of people bidding up, they bid down. If you start slightly above the price you want, that desire for the buyer to "win" kicks in, and they may be more willing to buy.

    "The Dance" can be frustrating, but I've had much better luck pricing things with flexibility and keeping my rock bottom price to myself... unless I'm in a big hurry to sell or don't want to field tire-kickers.

    #16 2 years ago

    I hate haggling. So to me it is bad business to tack on a few dollars and expect a haggle. You may easily price yourself out of selling to someone like me.

    If you have listed something for a price I'm willing to pay I will show up with all of the cash. As long as it is what you said it was condition wise I will leave and you will never hear from me again.

    I don't go to a store and expect to haggle.

    I expect to sell the same way. The last time I was going to sell something it was because someone asked to buy a game. I gave him the exact same price I bought it for even though the value had gone up. He kept insisting on knocking off $100. At the end of his continued attempt to haggle I told him he can never buy from me ever. Even if I list a game and he is willing to pay full price I just don't trust him to not play games with me again. I have no temperament for someone who plays games with me. He has apologized and says that is the way he does things. He says "the chase" is the fun part of buying games for him. I said that's fine, but I will never sell to him and he knows not to even ask.

    #17 2 years ago

    LH - let's haggle

    FIRM - equals pass

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