4 Sep 2013

The Art of Bargaining

Art-of-BargainingMoney doesn’t grow on trees (at least not yet), and unfortunately, the odds are that most of us can’t afford everything we want. That being said, there’s a good chance that you can afford more than you think you can, just by mastering what I like to call “the art of bargaining“.

If there’s one thing you should know when shopping for anything, it’s that price tags are rarely set in stone, as much as a shop owner or vendor might want you to think otherwise.

Indeed, there’s a good chance that you can talk down the price of your desired item to just a fraction of the price just by following some of these bargaining tips:

Know Your Price (or at least act like it)

The first step to bargaining is confidence—both in yourself, and in the value of whatever you’re purchasing. If you spend too much time hemming and hawing, you’re practically asking for your wallet to be taken advantage of. Find out the going rate of the item at hand in other shops and online, and use this as leverage to convince your seller to beat these prices.

Any business is better than no business, so almost all shop owners will lower their prices before letting you give your money to the vendor down the street.

Aim High

Don’t be afraid to set your discount standards high even if you don’t expect your seller to meet your initial request. This leaves much more room for negotiation—after all, a 25% discount will sound like peanuts if you originally asked for 75% off.

Bring Cash

Whether you’re buying a car, new suit, or groceries at the market, you’re more likely to get a good deal if you offer cash up front.  As well, bringing out money in increments can entice a seller to meet your desired price. For instance, keep some money in your wallet, and the rest in your pockets so you can pull the “Look, I’ve only got X-amount of dollars” trick.

Bluff

No matter how badly you want to buy a certain item, a good bluff goes a long way. Show some hesitation, or pretend to consult with your shopping partner. If a shop owner sees you’re on the fence about a purchase, they’ll be more prone to try sealing the deal with a bargain offer.

Walk Away

If you’re confident that you can buy an item for cheaper somewhere else, or simply can’t afford to buy it at the listed price then don’t be afraid to walk away. Odds are that with a bit of bargaining, you’ll be able to get your desired discount from another vendor.

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