3. Counteroffer A counter offer refuses a portion of an offer or a bid, but suggests a change or changes "Thank you for your letter of.. I appreciate the exceptional quality of your product and the way in which you have handled my inquiry, but your prices are too high even for this quality It approximates a yes-but declaration3. Counteroffer A counter offer refuses a portion of an offer or a bid, but suggests a change or changes. “Thank you for your letter of … . I appreciate the exceptional quality of your product and the way in which you have handled my inquiry, but your prices are too high even for this quality.” It approximates a “yes-but” declaration