Greentoe & M43 lenses

Joined
Dec 31, 2012
Messages
1,126
Sure, but isn’t a greentoe bid a commitment to purchase (sure, you can get out of it, but that’s extra work)? So you have to spend several iterations increasing your bid from a reasonable low starting point until one closes down the spread.

Also, I am suggesting that the used (definitely) overseas (maybe) prices are good datapoints to anchor the starting point for bids.
A contract is formed when there is a "meeting of the minds", e.g., when both parties are in agreement. You make an offer - if they accept, then it is a contract. If they counter, then that is a counter-offer - if you accept the counter-offer then it is a contract. Unless both parties agree, no contract is formed. That is how contract law works.

From GreenToe's FAQ: (https://www.greentoe.com/faq)
"When you place your offer you are agreeing to buy the item at the price you have entered."
"We guarantee that any counter offer you receive will be valid for at least 24 hours."

So you are only agreeing to buy at the price you enter. If a counter-offer is not to your liking, you can just let it lapse - there is no obligation to buy.
 
Joined
Dec 31, 2012
Messages
1,126
Yes it's a commit to purchase.

I normally start with a pretty happy price and limit the number of days to 3-4 depending on the day of the week. Sometimes you hear nothing, other times you get a counter offer. From there you can decide to up your offer or accept the count if given.
It is only a commit to purchase at the price you offer. If they don't accept your price and make a counter-offer, you can accept or decline the counter-offer.
 
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