eth2 Posted February 12, 2015 Author Share Posted February 12, 2015 I have negotiated lopsided contracts and unless it is a one time deal, it becomes a disaster. The other party is just waiting to get even and there is no trust. That's what makes a rummage sale different than a relationship. 1 Quote Link to comment Share on other sites More sharing options...
Jeff Matthews Posted February 12, 2015 Share Posted February 12, 2015 If you ever watch Shark Tank, it is interesting to see the negotiation strategies. I have gleaned a good deal of insight watching that program. I like Shark Tank, too. Quote Link to comment Share on other sites More sharing options...
eth2 Posted February 12, 2015 Author Share Posted February 12, 2015 (edited) Hot tub anyone? Edited February 12, 2015 by eth2 Quote Link to comment Share on other sites More sharing options...
eth2 Posted February 12, 2015 Author Share Posted February 12, 2015 Sorry. Wrong thread. Quote Link to comment Share on other sites More sharing options...
deep3shot Posted February 12, 2015 Share Posted February 12, 2015 I have negotiated lopsided contracts and unless it is a one time deal, it becomes a disaster. The other party is just waiting to get even and there is no trust. That's what makes a rummage sale different than a relationship. True words. Some punishingly tough business negotiators can be also be respected and trusted trading partners. I have several 20+ year relationships that have Frazier / Ali moments but we always jump back in the ring together. Quote Link to comment Share on other sites More sharing options...
Paducah Home Theater Posted February 12, 2015 Share Posted February 12, 2015 (edited) I have raised my sons with the idea that negotiating is the most important skill you can learn. As a demonstration, I let them watch me negotiate for a car, and in a few short minutes get a price down $1,000. Then I let them know that I made $1,000 in 5 minutes, which is equivalent to $12,000 per hour, and that was just for a car. Conversely, if you are the person giving up to the stronger negotiator, you are paying him $12,000 per hour to make you a nervous wreck and feel like you just got taken advantage of. They get the picture. Yes but this isn't the whole story. Sometimes being smart is better than being what you think is a tough negotiator. Case in point the Jeep I bought. I did my research for a long time. I knew exactly what I wanted, a 2012 cosmos blue jeep rubicon unlimited. Pretty specific. The thing is, there was only three left with that combination in the entire nation. The closest one was in Clarksville Tennessee. I knew what they could be sold for but these guys had the price jacked up because they take advantage of young soldiers who unfortunately don't know any better. Basically it was $38,000 MSRP and they wanted $42,000 for it. Which, surprisingly, isn't that uncommon. Anyway, we went, drove it, etc. When it was time to hammer out the price, these guys were ready to participate in the typical circus. They moaned and groaned and acted like I was pulling their leg and all the usual expected stupid shenanigans, but within a very short time they knocked $2,000 off the price. At that point it became apparent that this was pretty much it, and also that their bad acting was part of the plan. They were pretty shocked when I just up and left upon this realization, jaws dropped, never saw that coming. So, what I did was call up another dealer that had the same thing. As soon as he got on the phone I explained I knew what they could be sold for and I'm willing to pay that price. Boom, instantly got it for $500 less than invoice, $5,000 less than what I would have paid at the other dealer had I gotten all happy that I saved $2,000 in 5 minutes with them, with no unpleasant and cheap negotiation tactics needed. My wife was happy, I was happy, the dealership was happy, it was a good day. Win/win. Edited February 12, 2015 by MetropolisLakeOutfitters Quote Link to comment Share on other sites More sharing options...
Paducah Home Theater Posted February 12, 2015 Share Posted February 12, 2015 (edited) My personal rules for negotiations based on experience and not exactly being trained: 1. Always know your market, always be smart, always know what competitors are offering. You should be the one who knows when BS is being spewed. When somebody tells you that your competitor down the road has the same thing for $200 less, you ought to know if this is true or not. 2. Always strive for a win/win. Negotiations should be a give/take, not a give/give or take/take, especially if you want repeat business. 3. If you are making somebody an uncomfortable nervous wreck, then you aren’t an alpha male, you are a bully and a jerk. If somebody is making you feel like that, the same thing applies, and they are not worth messing with. Walk away, life is too short to deal with that. Chances are you could provide somebody else with what they are asking and they’d be happy as a lark, so why are you helping the jerk out? 4. Always be aware of how rare an item is, but never let it slip that you know this if it is in fact rare if you are the buyer. The seller instantly thinks the thing is plated in gold and any leverage you think you might have is instantly gone. 5. Never act excited. You lose all credibility when you do this. If you’re going to act excited about anything, let it look like you are looking forward to doing business with the other person, not that you are desperate to obtain whatever he has. You want to come across as an alpha male and seasoned businessman, not a newbie. 6. Some things should never be on the table. Bending laws, putting you or someone else at risk, helping somebody’s shady business practices which may make you look bad, etc. You must retain integrity, some things are off-limits. 7. Time is typically your friend. If you rely on uncomfortable shock and awe tactics, then you are a bully and a jerk. There is a negotiation chapter in “The Millionaire Next Door” that you should read if you want to see how millionaire gentlemen negotiate a car price. It is the exact opposite of how a wheeler and dealer conducts himself and is much more pleasant, with no ego stroking or bad feelings involved, and with better results. 8. Know who you are dealing with. If somebody creeps you out with shady negotiation tactics, simply look him up online. Case in point I had a customer who I did this with, come to find out he scammed people through his business, and enraged an entire community by starving a pony to death. Some people just aren't worth dealing with. Send those guys packing. Edited February 12, 2015 by MetropolisLakeOutfitters 2 Quote Link to comment Share on other sites More sharing options...
mustang guy Posted February 12, 2015 Share Posted February 12, 2015 I have raised my sons with the idea that negotiating is the most important skill you can learn. As a demonstration, I let them watch me negotiate for a car, and in a few short minutes get a price down $1,000. Then I let them know that I made $1,000 in 5 minutes, which is equivalent to $12,000 per hour, and that was just for a car. Conversely, if you are the person giving up to the stronger negotiator, you are paying him $12,000 per hour to make you a nervous wreck and feel like you just got taken advantage of. They get the picture. Yes but this isn't the whole story. Sometimes being smart is better than being what you think is a tough negotiator. Case in point the Jeep I bought. I did my research for a long time. I knew exactly what I wanted, a 2012 cosmos blue jeep rubicon unlimited. Pretty specific. The thing is, there was only three left with that combination in the entire nation. The closest one was in Clarksville Tennessee. I knew what they could be sold for but these guys had the price jacked up because they take advantage of young soldiers who unfortunately don't know any better. Basically it was $38,000 MSRP and they wanted $42,000 for it. Which, surprisingly, isn't that uncommon. Anyway, we went, drove it, etc. When it was time to hammer out the price, these guys were ready to participate in the typical circus. They moaned and groaned and acted like I was pulling their leg and all the usual expected stupid shenanigans, but within a very short time they knocked $2,000 off the price. At that point it became apparent that this was pretty much it, and also that their bad acting was part of the plan. They were pretty shocked when I just up and left upon this realization, jaws dropped, never saw that coming. So, what I did was call up another dealer that had the same thing. As soon as he got on the phone I explained I knew what they could be sold for and I'm willing to pay that price. Boom, instantly got it for $500 less than invoice, $5,000 less than what I would have paid at the other dealer had I gotten all happy that I saved $2,000 in 5 minutes with them, with no unpleasant and cheap negotiation tactics needed. My wife was happy, I was happy, the dealership was happy, it was a good day. Win/win. That's an awesome color of blue! We sold our Jeep a couple summers ago. I miss that thing. 1 Quote Link to comment Share on other sites More sharing options...
eth2 Posted February 12, 2015 Author Share Posted February 12, 2015 Never assume. Here all this time I thought you were a guy. Clearly wrong! Just another chauvinist I guess. 1 Quote Link to comment Share on other sites More sharing options...
Paducah Home Theater Posted February 12, 2015 Share Posted February 12, 2015 (edited) Never assume. Here all this time I thought you were a guy. Clearly wrong! Just another chauvinist I guess. Ha! Who me? Nope, still a dude. That's my wife, I got the Jeep for her. Edited February 12, 2015 by MetropolisLakeOutfitters Quote Link to comment Share on other sites More sharing options...
eth2 Posted February 12, 2015 Author Share Posted February 12, 2015 Told you assuming was bad. 1 Quote Link to comment Share on other sites More sharing options...
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