It is new - I just used it as a seller. Ebay offers you this option to send an offer directly to a watcher. I am not sure what determines when eBay decides to provide this option as I only got it for a few of my listings even though others also have watchers. The lots where you have this option are listed on the Selling--Overview tab.
Similarly, sometimes when you are exchanging messages a "make an offer" box will appear - I think I have seen this as both a buyer and a seller.
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