How good are you at getting what you want?
Say if a motorcycle list for $10k. How low do you reckon you can squeeze the price?
Say if a contractor is asking for $500k for the job. How much wiggle room can you push him?
How good are you at the table?
- Cunning as a fox , slippery as an eel50%(9)50%(17)Vote50%(8)
- Derpy average joe6%(1)12%(4)Vote19%(3)
- *incoherent rambling*44%(8)38%(13)Vote31%(5)
Most Helpful Girl
I mean, there are a couple of key variables you aren't specifying here.
* How rare is the item?
* How bad do I want it?
* How much demand is there? (If I use the walk-away tactic, how much time will probably pass until someone else bids on it?)
I am normally VERY good at negotiating, but, in a perfect-storm situation -- it's a rare item, there's lots of demand, and I know others will come knocking -- I'll have to just belly up and pay the asking price.
Even so, I'd still try to use my own connections and expertise to bargain a little. If I could trade with my own services -- or with equally hard-to-find motorcycle or car parts (we have lots of those at my father's garage) -- I'd try that route.
For items with less demand, I am pretty amoral when it comes to negotiating tactics. For instance, if it's a meet-up for something that's being sold online, I'd think nothing of setting up fake eBay or Auto Trader listings for "other sellers" with prices closer to my asking price. Also, the art of the fake phone call (have yr friend call you during a negotiation and pose as "another seller" as you step outside and talk really loudly) is a fine art indeed. LOL
My favorite thing, in negotiations, is the strategic use of perfect silence.
Most people just TOTALLY CANNOT HANDLE silence. They'll make a counter, or an offer... and then I'll just stare at them ahahhah. It's AMAZING how much most people will be willing to do some additional bargaining after you do this -- especially if they are the one who breaks eye contact first.
(I think this is even more effective because I'm female. Men are totally not prepared to deal with a woman who actually knows how to negotiate, as opposed to that "being coy" bullshit that I've never been able to do anyway.)0
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Most Helpful Guy
Bike sell for $10,000.
1. You go with a buddy, give him $3000 to hold onto or leave it in the glove compartment while putting $5000 in your pocket.
2. You inspect the bike and discuss the many good aspects with your buddy while always returning to it's biggest flaw (less is more in this case).
3. You pull out the $5000 in hard cash, tell him you want the bike but it's all you have. It's his right here and now if he want it.
4. If he sells it for $5000 (unlikely), awesome. If he doesn't. You ask him what is the ABSOLUTE lowest he'll let it go.
5. When he says something like $8500 or $9000 you go back to your buddy and talk in hushed voices.
6. Return to him and tell him that you can get another $2500 thanks to your buddy, totaling $7500 later that very day... provided of course he lets you go take a trip to the bank with your buddy.
7. If he says yes (frequently), you go for a coffee with your buddy and come back 45min later and make the exchange.
8. If he still says no, you pick up the phone and make a fake phone call. Discuss is with your imaginary friend and Wiesel another $500 into the offer as if by magic. Tell him that that is the final offer- you can't get more.
9. Make the exchange otherwise walk away and wait to find another bike that catches your eye.
My first experience with this sort of thing was as the buddy for my uncle who was actually buying a bike... it's funny you picked that exact situation.
$5000 listing paid something like $2600 and managed to get it with a spare set of forks, fork seals, and a new chain as the cherry on top.
I had a teacher who could sell ice to an Eskimo.0