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Why You Should Never Price Your Rarities

When you set a list price for an item, you are almost certainly going to get less than that list price. Why should you take that first step? With collectibles, you shouldn't.

When you see a selling method similar to a sealed bid auction, but with no time limit. So the seller can accept an offer or reject it, for as long as they like, but there are not competitive bids anyone can see. Godaddy calls it offer/counter and I am wondering if there is a formal term for what this style of selling is. ChatGPT The selling method you are describing is commonly referred to as a "negotiated sale" or "private treaty sale." In a negotiated sale, there is no fixed time limit for the bidding process, and the buyer and seller communicate privately to negotiate a price. This is in contrast to a public auction, where buyers compete with each other to place the highest bid within a fixed time frame.

The "offer/counter" system used by GoDaddy is a form of negotiated sale, where the buyer makes an initial offer, and the seller responds with a counteroffer. The negotiation process continues until the buyer and seller reach an agreement on the price.

Negotiated sales are commonly used in real estate and other high-value transactions, where there may not be a large pool of potential buyers, or where the seller is seeking a specific price that may not be achievable through an auction or other public bidding process.

Can you tell me the areas a negotiated sale system is used in, and what the benefits and drawbacks are? I am only referring to negotiated sales where there is no list price, and no bidding. The buyer makes the initial offer and the negotiation proceeds from there. ChatGPT Negotiated sales, where the buyer makes the initial offer and the negotiation proceeds from there, are used in a wide range of industries and markets. Some common areas where negotiated sales are used include:

Real estate: In the real estate industry, many high-value properties are sold through negotiated sales. This is particularly true for luxury properties or properties with unique features that may not appeal to a broad range of buyers.

Business sales: Negotiated sales are also common in the business world, particularly when a business is being sold as a going concern. The negotiation process may involve not only the sale price but also the terms of the sale, such as the timing of the transaction and any contingencies.

Art and collectibles: High-end art and collectibles are often sold through negotiated sales. This is because the market for these items is often limited, and the value of a particular piece may be difficult to determine through a public bidding process.

Benefits of Negotiated Sales:

Control over the sale process: Negotiated sales give the seller greater control over the sales process, allowing them to carefully consider each offer and negotiate the terms of the sale to their advantage.

Personalized negotiations: Negotiated sales allow for personalized negotiations between the buyer and seller, which can result in a more mutually beneficial transaction.

Flexibility: Negotiated sales are often more flexible than other sales processes, allowing the buyer and seller to negotiate the terms of the sale to meet their specific needs.

Drawbacks of Negotiated Sales:

Lack of transparency: One of the primary drawbacks of negotiated sales is the lack of transparency. Without public bids or a list price, it can be difficult for buyers to know if they are getting a fair deal.

Lengthy negotiation process: Negotiated sales can be time-consuming, as the negotiation process may go back and forth between the buyer and seller before a final agreement is reached.

Limited competition: Negotiated sales may not generate as much competition as other sales processes, which can limit the seller's ability to achieve the highest possible sale price.

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