Best strategy for eBay Best Offering on high ticket items?

[Kim N]

I'm looking to buy a diamond / diamond ring on eBay, and most of the listings are $20K+. What is the best strategy for Best Offering? Do I best offer at a lower price than I want to pay so that they have a chance to counteroffer? How much lower would I offer, then?

For most of these listings, I'd like to pay around 60%-65% of asking (and the asking prices are usually retail prices, not secondhand market prices, even though it's eBay).

 

[madelise]

Re: Best strategy for eBay Best Offering on high ticket item

Offering only 60% of their asking price is insulting, IMHO.
But sure, why not? The only thing they can do is reject the offer It's not the end of the world.



Really, though, if something is say $18500, I'd maybe offer $18000. If it was $1850, I'd offer $1800.
Or you can even ask them point blank, without a submitted offer, "What is the best price you can give me on this item?"
You don't want to insult a seller, because they won't even counter offer you their lowest price.
If you have been watching an item that has been sitting there, not moving for months, maybe you'd have more leverage for a lower offer.
It really depends.

But as a seller and a buyer, I'm definitely pushing that offering 60% of their selling point is just plain insulting.

 

[Gypsy]

Re: Best strategy for eBay Best Offering on high ticket item

I've offered 60% before and had it rejected and had it accepted and had it countered. It just depends on the seller. If they reject (or just don't answer) then you can make two more offers.

You can always go up. You can't go down, IMO.

 

[ihy138]

Re: Best strategy for eBay Best Offering on high ticket item

I'd made some low offers and had them accepted. Most of the time the seller just counters with something closer to the original price and I either accept it or we go back and forth. It's worth a try! The worst they can do is say no.

 

[smitcompton]

Re: Best strategy for eBay Best Offering on high ticket item

Hi,

I look at the previous items sold to see the difference between asking and what it sold for. Its on the feedback page. With one seller, I saw that he accepted one third to one half off his asking price(not diamonds, but original paintings). I only got countered on one bid and I accepted his counter.

I would never do what Madeline says. If an item is 18,500. I would offer 30 % for certain. But try 60 %. They can reject it.
I think its insulting for some sellers to ask what they do.

Annette

 

[Dancing Fire]

Re: Best strategy for eBay Best Offering on high ticket item

i wouldn't even make an offer unless they are within 20% of what i have in mind.

 

[canuk-gal]

Re: Best strategy for eBay Best Offering on high ticket item

HI:

Like SC--I do price comparisons. Many times the "offer accepted" has been half or less.
Like Gyspy said--they can accept or reject.
I do not take my rejections personally, and likewise I am happy when they are accepted.

Honestly, I look at ebay and some of the pricing with credulity: I have seen erroneous comparisons and often items no longer in production are priced very high....yet not everything is collectable and commands such attention.

If I am a lowballer--then so be it. No one has to sell me anything. So to the original poster--offer what you want! It hurts nothing.

cheers--Sharon

 

[ruby59]

Re: Best strategy for eBay Best Offering on high ticket item

If it is a seller you like and may want to purchase from in the future, I would be careful of offering too low a bid. From what I have read on the sellers board, some sellers will block low balling buyers from bidding on their auctions.

As someone else said, checking completed auctions to familiarize yourself with a seller, is an excellent idea. If your item is common and offered by a few sellers, then you could take a shot at 50%. On unique items, I would offer 60% minimum. After that wait a bit. If you counter right away, you will look anxious. Hopefully, no one else will bid and the seller may be more primed to offers. Towards the end of the auction, increase to 65%. The longer an item remains, the more the seller will be willing to compromise.

 

[madelise]

Re: Best strategy for eBay Best Offering on high ticket item

So a $12k offer (60% off) on a $20k item is okay? That's a $8k difference.

 

[ForteKitty]

Re: Best strategy for eBay Best Offering on high ticket item

My 2ct was listed for $10k, and I offered $5k, which was accepted. My 1.64 was listed at $8500 and the seller accepted $4k.

 

[dreamer_dachsie]

Re: Best strategy for eBay Best Offering on high ticket item

So a $12k offer (60% off) on a $20k item is okay? That's a $8k difference.

It is fine on ebay. Who cares about insulting? Its business. And asking prices are usually out to lunch.

One seller I just bought from usually sells his stuff at about 60% below his asking.

I offer what I think the item is worth based on what I have paid in the past or compared to retail comps, always assuming when there is no papers the color is much more tinted than they say. I always offer less than I want to pay. I look at the sellers past sales and calculate their most typical % off. I find for most sellers they sell for 30% below their asking. So I offer less, ususally 40% off. If its declined, so what. Try again or move on. Negotiation is not finished until you have the ring and have it appraised. If it is less than described, negotiatie a further reduction.

For example, I purchased my solitaire for 70% asking, then got another 15% of my purchase price as a partial refund because their color estimate was very very off (G to K), so my final purchase price was 60% asking. That is not unusual on ebay in my limited experience. I just helped someone buy a diamond loose that was originally offered in a mount for about 60% below original asking, including a partial refund because, again, their color was way off. These are estate sellers usually selling the high ticket things on ebay, and they are sharks. So be a shark.

Big ticket items are hard to sell. Go in hard and low. If they are smart, they will negotiate. If they won't negotiate... pay more or move on.

 

[madelise]

Re: Best strategy for eBay Best Offering on high ticket item

Shoot, I totally have been missin out. Is this only for non-bidding items?

 

[Kim N]

Re: Best strategy for eBay Best Offering on high ticket item

Thanks, everyone, this has been extremely helpful!

Fortekitty and Dreamer, you're my eBay heroes.

One seller I just bought from usually sells his stuff at about 60% below his asking.

Seriously? You mean he sells stuff for only 40% of asking? That's an incredible discount.

I always offer less than I want to pay.

Would you recommend offering maybe 10% less than I want to pay? Like I want to pay 60% of asking, so I offer 50% of asking?

 

[Kim N]

Re: Best strategy for eBay Best Offering on high ticket item

My 2ct was listed for $10k, and I offered $5k, which was accepted. My 1.64 was listed at $8500 and the seller accepted $4k.

ForteKitty, before you offered, did you know from your sellers' past listings that they usually accepted lower offers like that? Or did you just offer what you wanted to pay, and they just happened to accept?

 

[ForteKitty]

Re: Best strategy for eBay Best Offering on high ticket item

My 2ct was listed for $10k, and I offered $5k, which was accepted. My 1.64 was listed at $8500 and the seller accepted $4k.

ForteKitty, before you offered, did you know from your sellers' past listings that they usually accepted lower offers like that? Or did you just offer what you wanted to pay, and they just happened to accept?

I offered a little lower than what I was willing to pay, then negotiated up to what I was willing to pay. Some people will entertain that kind of offer, some wont. I got lucky with those.

 

[ruby59]

Re: Best strategy for eBay Best Offering on high ticket item

You need to take who the seller is into account.

Fortekitty, if I remember correctly, you bought yours from the state of Texas? Abandoned property. Those kinds of auctions, they are willing to take less just to move the stuff along. Others who sell on here are high priced retail jewelry stores who are used to getting top dollar, and will be more likely to stick closely to their asking price. With your mom and pop guys, it all depends. Some desperately need the money and will negotiate, others will not budge and inch in their price.

And to answer madelise's question - this refers to "make an offer" auctions.

 

[Enerchi]

Re: Best strategy for eBay Best Offering on high ticket item

As Dreamer mentioned above, I offered an eBay seller 1/2 price from the listing which was a completed ring, to purchase the diamond only, and he accepted. I then phoned and spoke to him directly, which netted me another $100 off. Once it arrived, and I had it appraised, it was significantly off colour from what was posted, plus a separate concern, so using the eBay email he agreed to a further price reduction. All in all, from the initial listing I ended up paying 40% below original price. Now, I would probably never have thought to go thru all those contacts or questions if I didn't have the support and experience of someone who was well "in the know" about these things, which is exactly what you are doing now. There will always be someone on PS who could support you in advice as to how to negotiate if you are getting close to an agreement!

I think you offer what you are comfortable with. You have 3 opportunities to make your best offer and if they are rejected, they are rejected. You can always phone them directly after and speak with the seller, if you are still interested. Just purchase thru the ebay system - they will set up a private listing for you - where there is protection should something not go well. Never purchase off eBay.

No harm in trying!

 

[Kim N]

Re: Best strategy for eBay Best Offering on high ticket item

Enerchi, thanks for sharing your experience. That is terrific that you were able to get guidance during your purchase, and get such an awesome deal by doing all that. Just curious, how did calling and talking to the seller net another $100 off, after the offer was already accepted?

 

[Enerchi]

Re: Best strategy for eBay Best Offering on high ticket item

Just my dazzling charm, I guess! no idea but thought I'd take a chance when I was talking to him, and just asked! He agreed so I was thrilled! And the diamond turned out to be closer to what I really wanted in terms of colour. I was looking for creamy and more antique lace, overall, so a Q-R ended up being perfect for me. I hope you find the stone of your dreams soon...are you close? Is there one you are now zeroing in on??

My fingers are crossed you'll be just as lucky!

I just noticed my financial error in my original post. I paid only 40% of the original price, so I think that means I got 60% off of the original listing! Clearly math is not my strong suit!!

 

[Kim N]

Re: Best strategy for eBay Best Offering on high ticket item

Thanks, Enerchi! So happy for you that you were able to find exactly what you were looking for at a great price! I'm getting a little bit closer and hope I'll be as lucky as you!

 

[Kim N]

Re: Best strategy for eBay Best Offering on high ticket item

I offered a little lower than what I was willing to pay, then negotiated up to what I was willing to pay. Some people will entertain that kind of offer, some wont. I got lucky with those.

Thanks, FK! Lucky and skillful!

 

[dreamer_dachsie]

Re: Best strategy for eBay Best Offering on high ticket item

You can only play hard ball with offers if you are willing to walk away. There is, as some mentioned, the risk of offending the seller. Its ridiculous to be offended by an offer, you can refuse or counter and its business after all, but some sellers do react that way. I have had more than a few turn me away!

Also, don't low-ball for the sake of low-balling. Do your comparison shopping so you know fair value, and if something is priced fair, then BIN or make an offer close to asking! I only low-ball when the asking price is legitimately way too high for ebay in my humble estimate.

 

[ruby59]

Re: Best strategy for eBay Best Offering on high ticket item

Just to add: some sellers have their parameters set where low offers below a certain amount are automatically declined. So if you bid too low, they may not even see it.

 

[TravelingGal]

Re: Best strategy for eBay Best Offering on high ticket item

I never worry about offending an ebay seller. It's not hard to refuse an offer. My brooch I offered over 30% less, and my platinum eternity even more, percentage wise. The platinum ring was accepted, and the brooch was counteroffered and we split the minor difference.

 

[ForteKitty]

Re: Best strategy for eBay Best Offering on high ticket item

You need to take who the seller is into account.

Fortekitty, if I remember correctly, you bought yours from the state of Texas? Abandoned property. Those kinds of auctions, they are willing to take less just to move the stuff along. Others who sell on here are high priced retail jewelry stores who are used to getting top dollar, and will be more likely to stick closely to their asking price. With your mom and pop guys, it all depends. Some desperately need the money and will negotiate, others will not budge and inch in their price.

And to answer madelise's question - this refers to "make an offer" auctions.

The bold part is an assumption and completely not true. My 9.9mm (3.788ct) oec was auction style, and started very low. Think it was under $100. When referring to the offers I've made, I meant the 2ct and the 1.64ct that I had purchased prior to the big one.

State auctions are usually auction style only, and they do not take offers because it gives an unfair advantage to the buyers who may know the person who is controlling the auctions. If the items are listed as an auction and sells to the highest bidder, there is no unfair disadvantage.

And I never consider who the seller is. If I make an offer and they don't accept, I move on.

 

[ForteKitty]

Re: Best strategy for eBay Best Offering on high ticket item

I offered a little lower than what I was willing to pay, then negotiated up to what I was willing to pay. Some people will entertain that kind of offer, some wont. I got lucky with those.

Thanks, FK! Lucky and skillful!

Thanks! I admit it was more luck than skill.

 

[ruby59]

Re: Best strategy for eBay Best Offering on high ticket item

I see I am in the minority here, so let me ask: How many of you are sellers on ebay, Diamond Bistro, Preloved. I know I sold a couple of things and some of the low bids I got were insulting. So when I bid I take that into consideration.

And I meant no disrespect Fortekitty. I saw your auction on ebay. I know it was a true auction. But imo high priced jewelry stores and many mom and pop's will not take that chance anymore for fear the item will go too low.

If you read the OP's question, she is talking about high ticket items - over $20,000. I am an avid ebayer, and items like those as true auctions - no reserve, are far and few between. Some mentioned they got great reductions on their items. But they alsp commented it was because their diamonds were overgraded. As for the most part, high ticket auctions where the diamonds are graded correctly or hav GIA, EGL reports, sellers are waiting it out and sticking close to their prices. I have followed more than a few which have multiple offers - all rejected.

 

[ForteKitty]

Re: Best strategy for eBay Best Offering on high ticket item

Ruby, I didn't take offense. I just didn't want people to see that and run with it and accuse them of being biased, when what Texas did was complete fair and legitimate.

I wont make an unreasonable offer, so maybe that's why I don't feel bad offering a lower amount. Offers I make are usually in line with other used jewelry pieces of similar specs. If they are asking retail for a used item, of course my offer is going to seem low. But considering they usually don't have a grading report, I'm taking a huge chance on it not being what it's described as. They can always say no, and many have. If it was a piece I really wanted, I'll continue to email with the seller and work out a fair amount. (and a return policy in case they are WAY off!)

I have sold on ebay and DB, and have received as low as 10% of my asking. I usually just laugh it off, especially when it's the same person repeatedly asking!

 

[canuk-gal]

Re: Best strategy for eBay Best Offering on high ticket item

HI:

The pieces I've purchased from ebay were from vendors with a presence on every auction site online; notwithstanding owning B & M's as well. Very high priced branded pieces. In one case, the Tiffany gold bracelet I bought was one the lower priced items offered for sale.

I offered half of what they asked and NOT ONE minute ofter the auction ended I got a "congrats" email. Would they have been as gracious/eager to sell the item had been 20K? Don't know. And I don't know if it is even as issue--I mean if they are selling does it follow they have an emotional attachment to every piece? Sure everyone wants to make a profit, and that is fair. But I think given the economy, it is difficult to hold onto large inventories without even considering offers, however "odious".

I have sold many branded pieces and have been shocked at how little returns yield and therefore have a sense of how it is calculated. I think about that when I am bidding.

cheers--Sharon

 

[Kim N]

Re: Best strategy for eBay Best Offering on high ticket item

Thanks, everyone, I appreciate reading the responses!

I do have another question: If an item has a grading report, it's possible for me to figure out its regular retail value. However, how do I figure out what's a fair value on eBay? There aren't a ton of huge stones listed on eBay to use as comparison, and even fewer already sold huge stones (which would actually give a truer comp value).