Quote:
Originally Posted by PFKMan23
I can see some of your points and yet I don't agree with others (but I have no idea if that's the overall mentality at all). While it may be true that you can so called "get lucky" I would venture to guess that if it's that low of an offer, that it would more likely be iugnored. But I guess that a lottery mentiality is possible, ie: send out a bunch of lowballs, then maybe one will actually work... Of course from a buyers standpont, I can see that lgoic to possibly get the seller out of his price. That being said, I do not agree with the statement that a first offer should always be atleasta little ridiculous. In my mind, that's just a insincere offer. My mindset is that if a price is listed, that it is more or less impled, that it is set and if haggling is to be done it should be not so deviant from that price.
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But then again sellers often set a price that is unrealistically high. Either because they are fishing for a higher price, or because the value they place on the item includes sentiment or some misplace ideal that they shouldn't lose much of what they paid (some even try to make a profit). This is no better than the buyer giving a low price.
By a little ridiculous what I mean to say is that you'd give a price you feel is the lowest possible price it might sell for. Remember, there are many times where someone will let something go for below market value simply because then need or want to make a quick transaction. If you offer market value, you may be cutting yourself short and paying more then you need to.
Consider this conversation for an item that the seller is asking $300 for.
Buyer: I'll give you $100
Seller: No way! That's way t0o low, but maybe I could do $250 (that's a $50 price drop right there)
Buyer: I don't know... I think I've seen those go for around $150-175...
Seller: Well maybe, but mine is in excellent condition, I still have the original box... Tell you what, if I don't find another buyer by tonight, I'll sell it to you for $225.
Buyer: I think you might still be a little high, but take some pics for me, and let me know if you don't sell it by tonight.
Seller: Okay...
Later...
Seller: Well, I never sold it... Here's some pics... <thinking ugh, I just want this done> Tell you what, I'll let it go for $200.
Buyer: Great, that sounds good to me.
VS.
Buyer: How about $250
Seller: I'll do it at $275
Buyer: Okay...
<In the first scenario, even if the buyer had taken it at the first price drop he'd save himself $25 over the second scenario. Remember, too, the first scenario is not entirely unrealistic, many times people will drop the price significantly from their original asking price before it sells.>
Of course they won't always be able to meet in the middle, and maybe the guy does find another buyer... That's part of the risk you'd take by holding out for a lower price. Obviously, if the buyer really wants it, and is worried that he might lose out on the deal, he'll come up faster and maybe pay a higher price. If the seller holds out with his inflated price, he may never sell the item...