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What does OBO mean?

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  #1  
Old 07-30-2003, 11:16 AM
Charter Charter is offline
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What does OBO mean?


[Seinfeld Moment]

If someone has an item for sale for "$100 or best offer," and you are the first to offer the $100, should you get the item despite possible future offers? Does "$100 or best offer" mean $100 or best offer less than $100, or best offer regardless of the $100? If the latter, why mention the $100 in the first place, and when does the offering period end? Did Seinfeld ever do a bit on this?

[/Seinfeld Moment]



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  #2  
Old 07-30-2003, 11:17 AM
ENH Jonathan ENH Jonathan is offline
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Or best offer.

  #3  
Old 07-30-2003, 01:28 PM
MDJ2000 MDJ2000 is offline
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Someone obviously didn't read the post...

Interesting thoughts anyway, I think it should mean $100 or best offer less than $100, but who knows what the intent is from the person saying it.

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  #4  
Old 07-30-2003, 01:55 PM
fog fog is offline
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I'm sure if you walked up and offered them more than $100, they'd take it.

I'm 99% sure it means that they want $100, but if no one offers them more, they'll consider going lower. If you offer $75 the day they put it up for sale, I doubt they'll take it. (I'd take your number and call you back if it's been a while and I decide $75 is better than nothing.) But if they've been trying to get rid of it for weeks. they'd take a lower offer.

  #5  
Old 07-30-2003, 03:04 PM
dapon dapon is offline
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Quote:
Originally posted by fog
I'm sure if you walked up and offered them more than $100, they'd take it.

I'm 99% sure it means that they want $100, but if no one offers them more, they'll consider going lower. If you offer $75 the day they put it up for sale, I doubt they'll take it. (I'd take your number and call you back if it's been a while and I decide $75 is better than nothing.) But if they've been trying to get rid of it for weeks. they'd take a lower offer.
I agree with you.

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  #6  
Old 07-30-2003, 03:05 PM
Def Ault Def Ault is offline
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I thought it meant if more than one person offers $100. The one that bids highest gets the item.

  #7  
Old 07-30-2003, 04:04 PM
dapon dapon is offline
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Quote:
Originally posted by Def Ault
I thought it meant if more than one person offers $100. The one that bids highest gets the item.
If I'm selling something for $100 or best offer and someone comes up to me with $100 it's sold. I'm not waiting to see what other offers I get. I wanted $100, was offered $100, end of discussion, no bidding.

You never sell something buy putting down a price and hope someone offers you more. If I have a widget and I want $100 for it are you coming to me and saying, "Oh no, that's worth $120 let me give you that". I don't think so. When someone puts down a price or OBO that means they would like to get that price but may settle for less.

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Last edited by dapon; 07-30-2003 at 04:11 PM.
  #8  
Old 07-30-2003, 04:10 PM
dapon dapon is offline
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duplicate post

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  #9  
Old 07-30-2003, 04:19 PM
westcan westcan is offline
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Quote:
Originally posted by dapon
When someone puts down a price or OBO that means they would like to get that price but may settle for less.
Uhm.. Not necessarily. If more than one person wants it, the price can go above the starting point. But if no one wants it, then the seller is willing to go below the starting price.

At least thats the way it's done around here.

  #10  
Old 07-30-2003, 05:41 PM
RajanUrs RajanUrs is offline
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100 dollars or best offer means means the price is negotiable [obviously no buyer is going to negotiate for a higher price.....but a buyer may make an higher offer to clinch the deal.

100 dollars minimum bid means its an auction and it is sold to the highest bidder

  #11  
Old 05-25-2005, 12:41 PM
David Irwin David Irwin is offline
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OBO To some people may mean "or best offer". To others, OBO means "On Buyer's Onus". This would be the equivalent of "Caveat Emptor" or Let the buyer beware.

If you want to say "Or best offer", make it clear to all. Actually write, "Or best offer" If you are buying something that sasy OBO,
do not assume anything. Ask the seller what OBO means to him.

  #12  
Old 05-25-2005, 12:51 PM
saqibisdon saqibisdon is offline
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Hmmmm, I've always thought ONO (or nearest offer) was the highest one UP to the price they have asked and OBO (or best offer) was jus the highest price if some one offers MORE than the price they are asking for... if you get me.

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  #13  
Old 05-25-2005, 12:59 PM
SniperDevil SniperDevil is offline
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Quote:
Originally posted by David Irwin
OBO To some people may mean "or best offer". To others, OBO means "On Buyer's Onus". This would be the equivalent of "Caveat Emptor" or Let the buyer beware.

If you want to say "Or best offer", make it clear to all. Actually write, "Or best offer" If you are buying something that sasy OBO,
do not assume anything. Ask the seller what OBO means to him.
In classified ads, at least the ones I've seen and look at, OBO almost always is an acronym for "or best offer." The acronym OBO was "invented" for just the reason that it costs money to put those extra and needless letters and actually spell out "or best offer." Thus, people intending to use OBO for its originally intended use should not have to spell it out, but those who are not using it in its conventional meaning should.

  #14  
Old 05-25-2005, 01:11 PM
Douglas Douglas is offline
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David, you dragged a thread up from almost two years ago, silly. Wow. Talk about something coming back to haunt us...

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  #15  
Old 05-25-2005, 01:15 PM
SniperDevil SniperDevil is offline
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Quote:
Originally posted by The Bear
David, you dragged a thread up from almost two years ago, silly. Wow. Talk about something coming back to haunt us...
Wow, I didn't even notice that. Feel free to delete my posts or close this topic.

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