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Old 02-11-2011, 04:29 AM
 
Location: Columbia, California
6,664 posts, read 27,869,072 times
Reputation: 5127

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I have wondered for decades. I will place a ad give a price say $1000 or OBO. I think we all know that OBO is or best offer. Someone will visit and ask "what is your cheapest price?" What part of "offer" did they miss. Not once have any of these people actually made the sale. Now days with internet sales I still get the "what is your cheapest price?" in email responses. I tell them politely I have made the ad with a price I want, if you chose to you are welcome to make a offer.

As any savvy person who wants to make a sale I research and see the going price on a object. I have been selling Mandolins for a few years and know the value anyway. But there is always someone trying to tell me the running price on a Gibson model to be $500 when in fact a used one in that model in good condition is worth $2000, and new retail to be $5000.

I understand we all want a deal, I use every advantage I can when purchasing. But I never make insulting offers. If I see something I like and the price is near what I want I may make a offer, sometimes the price is good enough I just pay it. But if the price is far too much I pass on even talking to them.

Your thoughts?
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Old 02-11-2011, 05:05 AM
 
3,313 posts, read 4,311,709 times
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I took a class in Negotiation once, and it was an eye-opener for me. It changed my own negotiating methods and I have been better at getting deals ever since then.

Basically, by asking "What is your best price?", you are trying to determine the trading range by getting the seller to commit first to something lower than their listed price. Haven't you ever visited a car dealership? Those guys are pros because they always get people to commit by asking "What is your price range?"

Since you are giving a price and then 'OBO', you are trying to get them to commit to their 'OBO'. If they can get you to come down on your price ("What is your best price?"), they can then lower the trading range well below your listed price.

Tell these guys -when they ask the question- that your best price is the listed one. That will force them to give a beginning point in the negotiation closer to your listed price.
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Old 02-11-2011, 05:50 AM
 
Location: Columbia, California
6,664 posts, read 27,869,072 times
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I have also been preyed on by gypsies, we have quite a few here. They will attack you in mass, two or three driving down your price. When you can detect them it is best to slam the door in their face.
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Old 02-11-2011, 05:54 AM
 
Location: Columbia, California
6,664 posts, read 27,869,072 times
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Quote:
Originally Posted by Teak View Post
,,, Haven't you ever visited a car dealership? Those guys are pros because they always get people to commit by asking "What is your price range?",,,.
Here in So CA the dealers start off asking how much of a monthly payment you can afford. I always cut them off by stating I had my own financing. They are expert at adding thousands of extra charges to the total.
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Old 02-11-2011, 06:59 AM
 
85,277 posts, read 82,783,289 times
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i do quite alot of purchasing for my firm. there is no bottom these days.. it all depends how badely someone needs to move product. i usually low ball them then agree to meet somewhere in the middle between my low ball and the asking price . if they arent flexible find someone else who is..

i have had deals go together at near cost just so vendors can make their goal with certain manufacturers to get a year end rebate on all their buisness with that vendor.
.
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Old 02-11-2011, 11:22 AM
 
5,725 posts, read 9,105,677 times
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... Because it doesn't cost to ask....
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Old 02-11-2011, 04:34 PM
 
Location: Wisconsin
7,214 posts, read 8,439,356 times
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It's best to just not offended. You get tire kickers in any sales industry.
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Old 02-11-2011, 10:58 PM
 
4,246 posts, read 11,035,769 times
Reputation: 3135
Quote:
Originally Posted by ferretkona View Post
I have wondered for decades. I will place a ad give a price say $1000 or OBO. I think we all know that OBO is or best offer. Someone will visit and ask "what is your cheapest price?" What part of "offer" did they miss. Not once have any of these people actually made the sale. Now days with internet sales I still get the "what is your cheapest price?" in email responses. I tell them politely I have made the ad with a price I want, if you chose to you are welcome to make a offer.

As any savvy person who wants to make a sale I research and see the going price on a object. I have been selling Mandolins for a few years and know the value anyway. But there is always someone trying to tell me the running price on a Gibson model to be $500 when in fact a used one in that model in good condition is worth $2000, and new retail to be $5000.

I understand we all want a deal, I use every advantage I can when purchasing. But I never make insulting offers. If I see something I like and the price is near what I want I may make a offer, sometimes the price is good enough I just pay it. But if the price is far too much I pass on even talking to them.

Your thoughts?

I think they know what OBO means but they want YOU to tell them what your lowest price is so they can haggle even more. They think, well this person just went "x" amount of dollars below their selling price. I bet we can offer "x" amount lower than their own lower price and get it cheaper.

And this may be true if the person is just ready to unload the item. So it's a good tactic to try. Since at the end of the day it's a transaction for goods. And not people trying to negotiate the price for brain surgery in a 3rd world country.

I also think it's not a good idea to not offer something even if you think it's to low. The person trying to sell an item may be fed up that they can't sell it and just take anything for it. But you don't know since you never offered anything since you thought it was to low.
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Old 02-13-2011, 08:59 PM
 
Location: Canackistan
746 posts, read 1,548,345 times
Reputation: 680
Quote:
Originally Posted by mathjak107 View Post
I do quite a lot of purchasing for my firm. There is no bottom these days. It all depends how badly someone needs to move product. I usually low ball them then agree to meet somewhere in the middle between my low ball and the asking price. If they aren't flexible find someone else who is.

I have had deals go together at near cost just so vendors can make their goal with certain manufacturers to get a year end rebate on all their business with that vendor.
I fixed your post. You had some spelling mistakes and you forgot to capitalize the beginning of a sentence. Sorry, I'm a grammar nazi!

I also do a lot of purchasing for my company, and one thing we remember is that we're in the drivers seat. Basically as a buyer, the vendor works for me. He/she needs to meet my minimum line in order for me to do business profitably.
A great book I have read is called No: The only negotiating system you need for work and home by Jim Camp. He basically dissects everything about the power of a great negotiation.
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Old 02-13-2011, 09:44 PM
 
Location: Columbia, California
6,664 posts, read 27,869,072 times
Reputation: 5127
Well I do understand business purchasing.
My topic is about personal sales, small out of the garage or the home. Not a single time has one of these individuals made a purchase when they ask me "what is your lowest price?" And not a single one of those individuals has been a buyer for a company. I never set my price above the average for that object and I am open to offers.

I have had people call me on newspaper ads and ask me the same inane question. I just tell them it is a fair price and you have not even seen it yet.
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