Patrick,
I'm with swarmee on this (who posted just after you). COMC sellers can set the minimum offer threshold, which is even described on the COMC Profiles and Options page. The auto-accept threshold is a completely different ballgame.
I'm not sure what seller told you what to offer, the way you phrase that seems to indicate something else going on than a typical COMC transaction (in particular since there is no way for users to directly correspond through the COMC interface). A seller on COMC isn't saying, "Offer me 50 percent and I'll accept it," through the setting, the seller is saying, "I'm only willing to consider offers at 50 percent of the ask price."
At a card shop or show, my experience certainly includes countless times when cards have been priced by the seller, I make an offer and the seller makes a counter offer. I don't see how COMC is operating any differently than this.
I'm not a lawyer either, but I think a bait and switch is when whatever you are buying are substituted by an inferior version of the product. In this case, I think that's very different, as a seller can't switch cards out that are involved in a potential sale on COMC.
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