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Post by captbob on Feb 25, 2016 13:01:49 GMT -5
Got a situation here that I am up in the air as to how to solve, so I figured that I'd put it to the group here. (numbers are strictly for example purposes) Say you had a crate with 300 widgets (could be anything!) that you were wanting to sell. Figure the RETAIL value is $10,000 A buyer is interested in buying the lot to resell himself. Now this person is going to want to make a good profit, so your sale price is moving to wholesale as it is a large lot. Now, the conundrum becomes: Is it better to offer a fair wholesale price, say $7,500, which allows wiggle room to negotiate? All the while hoping the lot sells for that price, but still able to go lower. OR Simply give a firm price, say $6,000, which is obviously a better price for the buyer, but is a bottom line / no haggling figure? My question: when buying something at a price that you have to think about, do you want the seller's bottom line or would you rather hear a price and dicker? Is it human nature to dicker? Is a "bottom price" a turn off if there is no room to negotiate, even if it is a better deal? Thanks for opinions! ETA: I guess part of the puzzle is, can the higher ($7,500) price scare the buyer away, his not knowing what the wiggle room factor is?
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Post by Garage Rocker on Feb 25, 2016 13:12:58 GMT -5
Never been a fan of haggling, never considered it fun. Nothing worse than going to a car dealership and trying to get yourself the 'best' deal, IMO. I always suspect that maybe I could have got them down lower. Better to know the rock bottom, sorry for the pun, price and skip the BS.
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gerard
starting to spend too much on rocks
Member since April 2011
Posts: 218
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Post by gerard on Feb 25, 2016 13:13:22 GMT -5
Firm! BUT most retailers work on a keystone margin, meaning if they pay $1 for it they want to sell for $2. Many jewelry stores will not buy anything that they can not get a 3 or 4 Key on. That is 3 or 4 times purchase price. JMHO
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Post by rockjunquie on Feb 25, 2016 13:20:16 GMT -5
I am very uncomfortable with haggling. That said, I know a lot of people who love it. I would rather have the best price. You can say it is your best price and aren't accepting offers.
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Fossilman
Cave Dweller
Member since January 2009
Posts: 20,687
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Post by Fossilman on Feb 25, 2016 13:50:35 GMT -5
I like them both,depending on what is purchased......Nothing like a good haggle!!! A few times,I will say what I will pay for it and that's that too...(sometimes it works).. Most of the time you can look at a person and tell if he (or she) is a haggler or a straight up price type of person....
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Post by Jugglerguy on Feb 25, 2016 14:04:29 GMT -5
I don't know what works better for the general population. I'm not a salesman. My dad was a salesman and sold boats for many years. He told me that he put his best price on his boats because he thought it was dishonest to sell the same thing to two people for different prices. He didn't want a customer talking to another customer and finding out that they got a better deal. That being said, when I sell a used car (personal sale, not for a dealer), I put a price on it and plan to lower it if it doesn't sell after a few weeks. My reason is that I don't know exactly what the car is actually worth, so I start a little high and work my way down if no one is interested at the higher price.
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Post by captbob on Feb 25, 2016 14:19:36 GMT -5
Thanks for the replies so far!
In my case, but using different numbers, the buyer can easily double their money at the higher ($7,500 example) price and possibly/probably even triple it at the lower price.
One shot, specific buyer, deal, not a Craigslist kinda ad.
Hate to leave money on the table (out of my pocket) at the lower price, but don't want to lose the sale at the higher price.
Only downside for the buyer is that it may take awhile (couple years?) to move 300 widgets.
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Post by broseph82 on Feb 25, 2016 14:46:02 GMT -5
Are you trying to buy that whole yard full of coral captbob?
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Post by captbob on Feb 25, 2016 15:01:10 GMT -5
This isn't about coral Jimi. It's actually about clams.
But yes, I do plan of buying that whole yard of coral. At least everything I figure is worth having. The owner just doesn't see that coming yet!
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Post by broseph82 on Feb 25, 2016 15:28:20 GMT -5
This isn't about coral Jimi. It's actually about clams. But yes, I do plan of buying that whole yard of coral. At least everything I figure is worth having. The owner just doesn't see that coming yet! Ha ha ha. Clams from rucks pit? You'll have to sell some in the buy/sell/swap section at RTH prices
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indiana
spending too much on rocks
Member since October 2015
Posts: 285
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Post by indiana on Feb 25, 2016 16:38:27 GMT -5
I don't care for haggling. However, most people seem to want to feel like they are getting a good deal, so I almost always price things higher than I want and let them talk me down. That way I get what I want so I'm happy and they feel like they got a better deal, so they're happy. Really only a valid strategy for things that don't have an easily discernible price.
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Post by snowmom on Feb 26, 2016 20:08:17 GMT -5
I knew somebody who bought and sold for a living. She always tried to get the seller to name their price. Hated it when the seller simply asked 'what am i ofered?". I have been asked many times what my rock bottom price was, and when i gave it, immediately offered less. and then they were upset because I would not lower the price. In my experience, people in the business of selling need to expect to haggle. Hope you will tell us how this all works out so we might could learn from your experience!
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Post by captbob on Feb 26, 2016 20:13:05 GMT -5
snowmom !!! Where the heck ya been hiding? Welcome back!
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Thunder69
Cave Dweller
Thunder 2000-2015
Member since January 2009
Posts: 3,102
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Post by Thunder69 on Feb 26, 2016 21:07:20 GMT -5
Something to remember ...They offer you a price , but take into consideration of your further expenses of getting the material from point a to point b.. I would go like this.. The seller wants 10000 dollars for the lot..I know it will take ,say 1000 dollars to transport and time to pick it all up (rental and such) So I am down to $9000 at my top ..also if you know how much it would go for in bulk price that would figure in..if you are going to make a small profit when all is said and done offer lower .. I would start my offer at $7500 but would be willing to go to $8500... that would be my top offer...John
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Post by toiv0 on Feb 26, 2016 21:10:22 GMT -5
I myself like to haggle, I even haggle the big box stores. You can't get a better return on your money if you can get that extra 10 or 20 percent. It would also depend on my cost and if I needed cash flow.
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Fossilman
Cave Dweller
Member since January 2009
Posts: 20,687
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Post by Fossilman on Feb 26, 2016 22:15:36 GMT -5
snowmom !!! Where the heck ya been hiding? Welcome back! Yes,welcome back.....................long time no see!!!!!!
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Post by snowmom on Feb 27, 2016 5:29:38 GMT -5
snowmom !!! Where the heck ya been hiding? Welcome back! Thanks CaptBob I have spent most of my winter in Illinois for a family emergency situation, all pretty much back to normal now. glad to be home with the snow and the trees, managed to sneak home between snow systems and feeling cool, like i pulled off a miracle, avoiding Lake effect snow as well as the storm. Much as i like snow i don't like driving in it. Looks like loads of posts to catch up on.
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Post by snowmom on Feb 27, 2016 5:30:33 GMT -5
snowmom !!! Where the heck ya been hiding? Welcome back! Yes,welcome back.....................long time no see!!!!!! Thanks Mike! happy to be back!
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mikeinsjc
spending too much on rocks
Member since June 2010
Posts: 329
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Post by mikeinsjc on Mar 2, 2016 12:53:57 GMT -5
captnbob, this summer will be my 11th summer selling my rocks in Montana. Here is what I've learned.
1) What appeals to my wife and I doesn't necessarily appeal to the tourists. We may go gaga over a set of petrified wood bookends, but they may sit on our shelves for 3 years. Too pricey. 2) Our customers are tourists (95% are), so rare or valuable stuff is lost on them. Got to be cheap and pretty. 3) As to wanting to dicker, this is a sore spot with me, because I know my prices are a good deal. Sometimes bargaining is a cultural thing. Asians are the worst. Sometimes people feel entitled, as "Do you give military discounts?", to which I say "Only if you were drafted". 4) People do not read your signage for the most part. I have a large sign saying "Credit cards OK". And sure enough, they ask "Do you take credit cards?".
Info you didn't ask for, but just what I have learned.
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timloco
has rocks in the head
Member since April 2012
Posts: 545
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Post by timloco on Mar 2, 2016 22:07:26 GMT -5
I hate haggling, I'm not good at it, I need to practice more... The last time I bought rough at a rock show I felt like that Monty Python movie... "He's not haggling!" But it seems like that's pretty much how it is in the rock bidness. Just gotta learn how to do it better, which requires better people skills.
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