If a price tag says an item is “$80,” then that’s how much you have to pay for it, right?
From cars to dental appointments to Tickle Me Elmos, you can always get a deal. Here are some extremely useful tips on how to get the best price for just about anything.
1 – Don’t appear too eager
Whether you’re in a high end clothing store on 5th Avenue in New York City, or a street market in Nepal, you have to give off the impression that you are ready to “walk away” at any time. Not to say that you should come off as rude or arrogant, by any means; just appear that you are not too committed to the wares that are being sold.
2 – Do your research
If one store is offering a plasma television for one price, and you have a print out from their website confirming this, then you can leverage this info for a better price another store (pending their price is higher). Often businesses will be able to match their competitors’ rates. If you’re at a local shop, who is competing with a larger name chain, explain that you would rather give them the business, especially if they can give you a slightly better deal.
3 – Timing is everything
The beginning of day (or the end), the end of month and the end of a quarter: all great times to seek a stellar price. At the end of certain periods, stores are looking to unload any unsold inventory. Just forget the holiday season; this is clearly the worst time to try to cop a deal (as demand is at its highest). However, right after the holidays is a gold mine of sales/flexibility on the part of vendors.
4 – First ask the salesperson, and then the manager
Some salespeople only have so much wiggle room when it comes to negotiating prices. Ask to speak with the manager; they often know exactly what is in stock, and what they would like to move. Asking the right person a simple ‘can you give me a sales price on this item’ can save you oodles of dough.
5 – “I can pay in cash…”
A quick trip to the ATM can lighten the burden on many a purchase. If you approach practically any business with a cash offer, it obviously is more appealing to the owners as they will not have to pay the high fees involved with credit card transactions. Most customers like to pay with credit cards, so they can accrue points; this costs the business every time. The more expensive the item or service, the more a cash sale ends up saving the seller. Bring cash; ask for a deal.
6 – Go for the floor models / flawed items
Retailers are often more than happy to offer discounts on floor models/slightly scuffed up or damaged items. Just ask! A 10-20% discount is the norm, but the sky is the limit if they haven’t been able to/do not foresee being able to sell the merchandise in question.
7 – This is not a contest
The goal here is to get the best price for yourself – not to just “win” the sale “argument” for the sake of winning. Check your ego at the door. Keep the conversation light. The best negotiators interject a little humor even, to get the seller on their good side. If the talk is going on and on, back and forth, exercise something referred to as the “psychology of silence.” If you just clam up, and the salesperson keeps talking and talking, pitching and pitching, they will eventually feel uncomfortable with your silence. They will often lower their price just to end the awkwardness.
8 – Buy in bulk
The more items you purchase, the greater a discount you should receive on each. This is sales math 101, and you should always employ this technique.
9 – Be willing to compromise
Sometimes stores simply can not lower their prices on select items. If you find yourself in this situation, just ask what else they can hook you up with. Many businesses have things that they can easily part with (which cost them virtually nothing), but can really sweeten the sale for you.
10 – Leave your card
It never hurts to leave your information behind. A salesperson or manager may not be in the right mindset to give you a deal on the spot, but come closing time…and they have not met their quotas…they may be singing a different tune (then the odds are forever in your favor). This is especially true when dealing with roadshows or outdoor sales, where vendors may be reluctant to want to pack everything away and cart it back with them to another locale. Just leave your number behind with a smile – you may be surprised how friendly a call you’ll receive later that day.
Just as there are various techniques which you should employ in order to garner the best deal when purchasing something, there are instrumental practices you need to use when selling as well. The most essential thing is to be fully educated on the value of what you have. If you are selling a particularly expensive item, such as a house, you may contact a real estate broker (who knows the ins and outs of the industry) to help find you the best price for it. The same applies to jewelry, specifically, diamond jewelry. Diamond Lighthouse is comprised of a team of thoroughly experienced diamond experts; we can help you uncover the true value of your diamond jewelry. Next, we take on the responsibility of getting your diamond sold. We receive a commission from the sale of your jewelry, so it’s in our best interests to get you the most cash we can. We do all the necessary negotiating to get you the best price possible, allowing you to sit back at home, with your feet up and a smile on your face.
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