Definition of "Low balling" and why it is horrible to do it

[Skribb]

Hey gamers epic gamer here,

so basically I want to talk about lowballing someone and how you can be losing profit, lowballing is the term used to sell an item for less than what people are selling it for, as one of the new items released in a game that is $12 but someone keeps it on the market for above the auto sell price. Now whoever actually does this is the bane of humanity because its annoying and all its gonna do is make the item take longer to sell than the others because the auto buyers have to sell some of their stuff to buy that thing.

I'm not saying f**k you to people who actually do this and make a profit but all you're doing is making an item take longer to increase in price. hope all of you know the definition and are ready to actually attempt to make a profit (which u all do)

- Skrib

[Spawn of Totoro]

What you state as lowballing is not accurate:

https://www.merriam-webster.com/dictionary/lowball

1 : to give (a customer) a deceptively low price or cost estimate
2 : to give a markedly or unfairly low offer

Neither of these apply.

[cSg|mc-Hotsauce]

Originally posted by Skrib:

Hey gamers epic gamer here,

so basically I want to talk about lowballing someone and how you can be losing profit, lowballing is the term used to sell an item for less than what people are selling it for, as one of the new items released in a game that is $12 but someone keeps it on the market for above the auto sell price. Now whoever actually does this is the bane of humanity because its annoying and all its gonna do is make the item take longer to sell than the others because the auto buyers have to sell some of their stuff to buy that thing.

I'm not saying f**k you to people who actually do this and make a profit but all you're doing is making an item take longer to increase in price. hope all of you know the definition and are ready to actually attempt to make a profit (which u all do)

- Skrib

Undercutting.

un·der·cut
verb
gerund or present participle: undercutting
/ˌəndərˈkət/
1.
offer goods or services at a lower price than (a competitor).
"these industries have been undercut by more efficient foreign producers"
Similar:
charge less than

[Skribb]

Originally posted by Spawn of Totoro:

What you state as lowballing is not accurate:

https://www.merriam-webster.com/dictionary/lowball

1 : to give (a customer) a deceptively low price or cost estimate
2 : to give a markedly or unfairly low offer

Neither of these apply.

so you hate me for speaking about something that had a incorrect definition that was defined by me? i was just saying you lose profit and it takes longer for other people to make profits... so what

[cSg|mc-Hotsauce]

They have every right to set whatever price they want on their items.

You're playing the wrong market if you are looking for profits.

[Skribb]

Originally posted by cSg|mc-Hotsauce:

They have every right to set whatever price they want on their items.

You're playing the wrong market if you are looking for profits.

:qr:

ok dude, its just annoying for most people, and alsowhats with the qr code lol

[Edifier]

Originally posted by Skrib:

Hey gamers epic gamer here,

so basically I want to talk about lowballing someone and how you can be losing profit, lowballing is the term used to sell an item for less than what people are selling it for, as one of the new items released in a game that is $12 but someone keeps it on the market for above the auto sell price. Now whoever actually does this is the bane of humanity because its annoying and all its gonna do is make the item take longer to sell than the others because the auto buyers have to sell some of their stuff to buy that thing.

I'm not saying f**k you to people who actually do this and make a profit but all you're doing is making an item take longer to increase in price. hope all of you know the definition and are ready to actually attempt to make a profit (which u all do)

- Skrib

So someone buys a thing and then sell it for higher aaaand he's the jerk now? What?

This sounds like Supple and Demand. There is a demand for the item but the supply is limited so the item goes up in price.

What's the issue here?

[Skribb]

Originally posted by Edifier:

Originally posted by Skrib:

Hey gamers epic gamer here,

so basically I want to talk about lowballing someone and how you can be losing profit, lowballing is the term used to sell an item for less than what people are selling it for, as one of the new items released in a game that is $12 but someone keeps it on the market for above the auto sell price. Now whoever actually does this is the bane of humanity because its annoying and all its gonna do is make the item take longer to sell than the others because the auto buyers have to sell some of their stuff to buy that thing.

I'm not saying f**k you to people who actually do this and make a profit but all you're doing is making an item take longer to increase in price. hope all of you know the definition and are ready to actually attempt to make a profit (which u all do)

- Skrib

So someone buys a thing and then sell it for higher aaaand he's the jerk now? What?

This sounds like Supple and Demand. There is a demand for the item but the supply is limited so the item goes up in price.

What's the issue here?

no, they have a new item, like a item from a crate. some are already on the market and he puts his up for less then all of theirs, take this

12 dollar item | average sell 11 | LB price 8

they don't buy and sell high its the opposite

[Crazy Tiger]

Originally posted by Skrib:

no, they have a new item, like a item from a crate. some are already on the market and he puts his up for less then all of theirs, take this

12 dollar item | average sell 11 | LB price 8

And how is that an issue? Or are you implying that they must sell it at the same price as others?

That's not how a free market works. People can set the asking price they want for the item. If someone is willing to take less so he can sell it quickly, there is nothing wrong in that.

[whatamidoing]

Like people are saying, that's how competition in a free market works. And these pixel items have zero actual value aside from what people put on them. I find it silly and don't get the appeal, personally, but apparently a lot of people do.

[Count_Dandyman]

Originally posted by Skrib:

Originally posted by Edifier:

So someone buys a thing and then sell it for higher aaaand he's the jerk now? What?

This sounds like Supple and Demand. There is a demand for the item but the supply is limited so the item goes up in price.

What's the issue here?

no, they have a new item, like a item from a crate. some are already on the market and he puts his up for less then all of theirs, take this

12 dollar item | average sell 11 | LB price 8

they don't buy and sell high its the opposite

That is still supply and demand after all if there are already some on the market then obviously the demand is not high enough for them to sell and the supply is too high.

[Karien]

Lowball means to lie to or trick some newb about prices to buy his/her items for way cheaper than average. It's basically reverse sharking.

[Spawn of Totoro]

Originally posted by Skrib:

Originally posted by Spawn of Totoro:

What you state as lowballing is not accurate:

Neither of these apply.

so you hate me for speaking about something that had a incorrect definition that was defined by me? i was just saying you lose profit and it takes longer for other people to make profits... so what

No idea where you get the "hate" idea from. Can't hate someone I don't even know, let alone not know in real life.

Just pointing out the correct definition to avoid people's confusion on the matter.

Originally posted by Miss Ann Thrope:

I always sell trading cards for a lower price than the market value. It's the fastest way to get rid of the damn things.

Same. My goal is to get rid of the cards quickly, not for profit. Besides, no matter how much it sells for, it is still 100% profit as they were all free.

Those I can't sell quickly (even at .03 cents) I've been know to giveaway.

[d7602002]

IF the market on a trading card is .08, I put .05 so it sell for .07....I put them on the market 1 penny less than the selling price and usually they are gone within minutes. Good for me, as I make money. Not so good for those selling at higher prices, but too bad to them.

[sfnhltb]

Originally posted by Miss Ann Thrope:

I always sell trading cards for a lower price than the market value. It's the fastest way to get rid of the damn things.

Well the way I look at it is that the items up for sale on the market are the prices no one has been willing to pay for it so far, so it often isn't a very good guide of what an item is worth - if people were generally willing to pay that price it would have already sold to someone.

For me a better guide is the prices that have been paid in the past for it, and also how frequently - if there are a lot for sale and comparatively few of them have sold in recent months that suggests the copy you might sell is fairly unlikely to go even for a bit under current lowest offer, and a more significant reduction in price is more likely to work (before someone else has one to sell and undercuts your copy in return, unless you plan to come back again and again to keep it the lowest offer).

[wuddih]

the market has nothing to do with the term "lowballing".