(Topic ID: 185954)

What Does (OBO) and (FIRM) Mean?


By ResidentEvil7

2 years ago



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  • Latest reply 2 years ago by CNKay
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    #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.

    #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.

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