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| The art of negotiating; "What's your bottom dollar" | |
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| Tweet Topic Started: Jun 18 2015, 01:22 AM (1,224 Views) | |
| Horn | Jun 18 2015, 01:22 AM Post #1 |
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So I have been flipping quite a few items lately. I deal with both buying and selling. Over the last few years, "what's your bottom dollar?" has been a big question. WTF!? I never answer this question. That is not negotiating. That is bitching out. Make a fucking offer. The seller shouldn't talk himself down. I usually respond with "I don't have to sell the item", "I don't have a bottom dollar", or "That's your job to talk me down". Jesus Christ! It's not just young people. I get it from all different age groups, races, and nationalities. I like negotiating. I don't get stupid like some people where I have to get on top as a pride thing and have to have the other person agree to the last number you say. Today I had 5 people call and ask my bottom dollar. Then they lowballed the shit out of me. Idk why they even called?! |
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| Spud | Jun 18 2015, 01:43 AM Post #2 |
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It's cause this economy has taken a downfall that no one wants to believe. You should post your prices above your bottom dollar and if they ask for a bottom dollar price tell them a number between your top and bottom dollar and see if that works. |
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| myredvert | Jun 18 2015, 02:00 AM Post #3 |
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myredvert
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They asked to see if you would accept it, just like you post a price to see if you can get it.
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| Hotrodray1 | Jun 18 2015, 02:09 AM Post #4 |
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Over Educated parts guy
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I know what you mean had same thing happen to me today on a engine I have on Craigslist. I even said in ad not to try to lowball me I knew what parts on this new v8 and machine labor cost! Got some wise ass Finely make a offer of half what I am asking? Told him to get lost! My wife told me next time they ask bottom dollar tell them $200.00 higher than asking price then ask them for there offer! |
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| Horn | Jun 18 2015, 02:42 AM Post #5 |
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These offers today were closer to 1/3 of what I'm asking. I have a good idea of the market on this vehicle and some of these people were nuts. Offering $500 for a running, driving van with an LS 4.8 and 4l80e trans. NUTS! It's all good though, it'll sell sooner or later to someone who actually wants to make a deal. This has less to do with the economy and less to do with people watching all these shows on TV and seeing it happen on facebook. Every post for a vehicle I see on a facebook group has someone asking what the bottom dollar is. BEFORE THEY EVEN SEE IT!!!! Oh well, it just boggles my mind though. Now if I'm working with a person and we just can't come to a deal (after several offers), I might ask. Often times the deal wasn't going to happen anyway. What I really like are the guys who think they know the market on everything. I was selling a nice Sportster 883. A guy responds with an offer of $2200. I declined since I was asking $3600. Then he offers $2500 (not in person and hasn't seen the bike). I decline. He then says you can't get more than that and the max they go for is $3k. Now you can get them for 3k, but in my area sportsters go for quite a bit more than 2500.....usually 3-4k for an 883. It's all good though. Its all good though. |
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| Horn | Jun 18 2015, 02:47 AM Post #6 |
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Yea, I've actually started doing that. I really don't have a "bottom dollar" on most of my items. Now obviously everyone has a bottom dollar, but I usually have a bottom dollar range and tell them the top of that range. I've been getting a bunch of sob stories and people begging to take payments, but want it done on their terms. HA! You came to me for a favor, you play by my rules.
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| Old Man | Jun 18 2015, 05:25 AM Post #7 |
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I always tell them I will take payments. I also tell them that when the last payment is made I will give them the title AND THE CAR. |
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| Freeman | Jun 18 2015, 05:33 AM Post #8 |
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The Family Man
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I'm a 'what is you bottom dollar' negotiator. I also rely on you being honest about that. If you have a $2500 car but you really know it is worth $1800 and you say you'll take $1800, I'll give you $1800 for it. I don't like to haggle. I also don't budge on my asking price for items. I list items at what I value them, which is usually a very fair price based on similar sale items. But I've never been inline with the norm. Most people offer me the 1/3 and really want to meet in the middle somewhere. Just a pain. Actually, I have an anecdote. When I bought my Honda I think it was listed at $2000. I showed up, with $2000 in hand. I asked him what the minimum he needed for it was. He said $1700, I gave him $1700. Was the car worth $2000? Probably. But he was comfortable with $1700 and that is what I gave him. Lots of people list items high because they plan on negotiating down. Edited by Freeman, Jun 18 2015, 05:35 AM.
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| Car Nut | Jun 18 2015, 06:03 AM Post #9 |
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When they ask what's the lowest I'll take, I quickly respond with what's the most you'll pay? If they don't respond, I tell them to have a nice day. |
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| bkelly | Jun 18 2015, 06:21 AM Post #10 |
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Gear Head
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I like it Carnut I set my price at what I think it should be, that is my bottom dollar most of the time. If I'm flipping something that I picked up on a good deal I will try to make $200-300 |
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| Freeman | Jun 18 2015, 11:05 AM Post #11 |
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The Family Man
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I can work with that. But if I say the most I can pay is 'X' and you then ask for 'X+$50', we aren't getting anywhere. That is usually what happens. My top dollar was exactly what I said, that's all I got! I try not to deal with stuff like this anymore. |
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| 68custom | Jun 18 2015, 12:37 PM Post #12 |
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craiglist economy! old man has a good idea if you feel like becoming a used car salesman. make em sign a contract that states if they don't make timely payments they forfeit the car and their money!! |
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| Coche Blanco | Jun 18 2015, 01:19 PM Post #13 |
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Troll Certified
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I've had three CL transactions last week, and I surprisingly didn't get raped/murdered any of the times. First one is a selling a treadmill. Ask 150 on the ad. 3 or 4 emails of people interested in a couple of days so I knew it would sell. A week goes by and a guy sends me a text (I said "texting is preferred" in the ad") saying he'd like to look at it, and would be willing to pay the asking price if it was as described. He gets there and notices a knob that isn't crucial is broken. What does he offer me? $150 + my delivery fee. Got it to his house and dropped it off on his driveway. Easy as that. Second was selling some cordless drill batteries. Bought them for $100 on sale, listed them at $160 on CL. Same thing as the treadmill. A handful of people emailed me, and one guy texted me. He got them for $160 later that day. Third was a baker's rack (or whatever it's called). This wasn't mind to sell so I wanted to get it out of my hair. Listed it at what was basically MSRP; and said it was OBO. A guy texts me asking if I'll take $50, I said "no, it's worth more than that for me to keep it." he replies "I'll do $100 and pick it up today." to which I replied "See you soon, here's my address." Some times you get lucky! |
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| Car Nut | Jun 18 2015, 01:45 PM Post #14 |
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I think you better rush out and buy some lotta tickets. Your CL experience is so un CL like, that I'm thinking you gotta come up with a winner or two.
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| Car Nut | Jun 18 2015, 02:02 PM Post #15 |
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I used to sell automotive repair information like Chilton, Motor, Mitchell. Started out selling books, then software & online stuff. Anyways, my territory was northern VA, DC & MD. In those areas there's a very high concentration of "foreigners". (Woodie can relate to this) Talabans, Chinese, Vietmanise, Afghans, folks from Somalia, Koreans. They ALL wanted a deal, & wouldn't buy unless they got one. After a few months of getting beaten up to make the sale, I printed up a jacked up price list that I would show them, did the dance back & forth, made a cheaper deal & we were both happy. Think they liked me because I would wheel & deal with them.
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