An example would be selling a house. It is very common for someone to list a house at a reasonable price based on market research, do an open house, and then receive multiple offers. They then choose the best offer, which may not be the highest offer either (conditions, buyer's ability to pay, etc factor into "the best offer"). This is so common here, that they do open houses with a "no offers to be presented prior to" some specific time, at which point the seller chooses between offers. It is very common for bidders to significantly overbid the asking price in these situations. If someone showed up with a lawyer saying "I bid your asking price so I get the home" they would be laughed at even if they were first to submit an offer. It simply doesn't work that way.
All offers on houses generally have a time limit for the seller to make a decision after which point the offer is no longer valid. David could have made an offer like that if he felt he was first and was concerned that the car would sell fast. Still not binding, but might increase the seller's urgency to sell.
I personally think the best way to nab a highly popular car, like this SPG, would be to mildly overbid, responding quickly and politely in the hopes the seller would agree before getting in a bidding war.
I agree with others below. Re-list it for $25k OBO and see who is really interested! It would also be a good idea to list known mechanical issues, state of repairs, availability of records etc so everyone doesn't have to ask that stuff. Personally I would find it hard to agree to a price without seeing a car - could be all kinds of unstated issues, intentional or not! Maybe $5000 is way too much to pay for it, who knows!
The 1 picture does look beautiful though. I hope it finds a good owner!
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