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I think it's essentially gambling on different expectations of the final price. You offer something that is lower than what you think the price might go up to if there is a bidding war, but which is high enough to make it worth it to the seller to go "fuck it, I'd rather have this money now for sure than hold out to see whether the price will go higher during the actual auction".
Also, in general, if there is an 'offer' option, I make use of it. But then, I usually offer something vaguely reasonable. I have a suspicion that might still come across as 'lowballing' to some sellers, because some sellers seriously overestimate how much their stuff is worth. Some of those guys eventually realise it, after lowering their 'buy it now' price £20 at a time, over months and months.
SwissChap-
I’m sure I’ve made sub starting price offers and had them accepted. Not often but I’m sure it has happened.
BIN or best offer can be a bit wired too. I get it on high value stuff where you might be a bit flexible on price but on stuff at a fiver where I offer £4 and get a counter offer of £4.50, was it really worth the sellers time to-ing and fro-ing over 50p? It’s worth it to me coz I’m only buying one thing but it can be powersellers that are selling huge volumes of stuff. Just lust it at what you want to get surely.
M_V
Yeah, if you get an instant rejection then chances are your offer was below the threshold, if it takes a while then it was either above the threshold or there wasn't one and the seller has had to respond to it in person. Can be useful for judging a 2nd offer if one is required.
I don't get the thing of offers on items that are on auctions. Like if the starting price is £50 I'm not going to offer £60 coz I could just bid £60 and I might get it for £50. So am I meant to offer less than the starting price and hope the seller wants to take £40 now instead of waiting X days to maybe get £50?