The social media landscape is full of acronyms and shorthand abbreviations of commonly used terms.
While some of them are obvious, due either to their clear interpretation or their use away from the social media sphere, others require a little explanation… which is where we come in.
Today’s acronym relates specifically to the use of Facebook Marketplace and is a term used by sellers looking to complete a sale on the platform.
OBO means ‘Or Best Offer’.
It’s used as away of marketing the price of an item – letting potential buyers know that the price of an item is open to discussion, inviting them to make what they feel to be a fair offer.
Let’s take a look at a few examples of how OBO can and may be used.
Examples of OBO in Use
- Product available for $XX OBO
- Price OBO
Both of these examples are most often used in cases where the seller is flexible with price and is willing to let the buyer dictate the price in order to part with the item quickly.
It is a sales technique that will usually invite more enquiries and pick up more interest than a product may receive if a set price is listed.
So, the next time you see OBO listed next to the price of a product, you know that the seller is inviting you to make an offer. Happy buying!
