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My policy is any offer over 50% gets a response. My response explains that I always counter with my best price first time, then when they don't come up to that price with their next offer I counter at the same price I did the first time and they USUALLY get the idea. Occasionally I've had a joker come up to within 25¢ of my best price to see what I'll do. Then it all depends on my mood!
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