Equipment buying negotiation strategies, haggling stories sellers, etc.

[Fxfymn413]

Cash on the hip is always a good negotiating tool. I bought a very lightly used 32 foot hydraulic dovetail trailer for $2K less than the asking price, which was already low, when I told the seller I had a stack of Benjamins in the truck. He was a business owner; "As long as Uncle Sam never knows I sold this its yours." Two hours later I had the title in hand in my name and was on my way home.

Because of many factors that trailer is now selling for almost double what I paid for it seven years ago. Probably the only thing with wheels I ever bought that went up in value without me doing a thing to it.

 

[ultrarunner]

Location is also a factor…

When I sold a tractor the buyer traveled some distance and when he arrived in East Oakland exit he told me he almost turned around thinking it was a set up…

About a mile after he had that thought he reached my address and waited in the car… he said had I not went out to greet him he would have left.

 

[part-time-Farmer-NC]

As a buyer, I search out the item I am interested in, or have found I didn't know I needed. I do my research to determine a fair price for new/used item. I then reach out to owner and confirm price/basic condition etc. If I am satisfied its within my judgement for a fair price I buy it. If I think its high after looking at it (they all ain't mona lisa's) I offer what I feel is fair. That's it. I can usually walk away without issues.

If something is listed overpriced I rarely contact to negotiate the price.

When selling I try to determine a fair price. If buyer tries to negotiate I will say you know I am open to negotiations, I will take $500 more than my asking price... Makes me laugh anyway... Them not so much sometimes. I guess it also depends on my mood.

 

[tradosaurus]

I tried selling various items at a firm price, but soon realized that everyone wants a discount, so I then started adding the amount I was willing to discount to the selling price, let them talk me down to want I actually wanted for the item, and it is a win win for both of us.

That sounds about like what you would do.
I'm sure quite a few people don't even bother asking about what you are selling.
A savvy buyer will know that the item you are selling is worth so you must be able to take advantage of some poor sap.

 

[howardjohn]

I have found that cash is king! Showing up to look at something with cash in hand is a really good incentive for a seller to sell at a lower price. Also if it is on craigslist I wait to see how long it stays on. If it is on a long time at a price I think is high the seller maybe more willing to deal if he has not gotten a lot of calls about it.

 

[part-time-Farmer-NC]

Reminds me of the time I bought a enclosed trailer. I saw the ad on CL. Was to meet the buyer in a food lion parking lot several miles from my house. I was there on time, so were 3 other potential buyers. Talk about non negotiations... Luckily I had cash and walked away with it.

 

[WinterDeere]

lol... seller was hoping to start his own private bidding war!

 

[Flogger]

I figure I’m too old to argue. I started with car dealers by doing my research on value. When I contact the dealer I make my offer which is immediately followed by foggy bs in an attempt to leave the door open for their revenue enhancers. I give them a few minutes to bloviate to reduce the swelling in their head and then I say I will pay you $xxxxxx and that is the number that will be on the check. All I need from you is yes or no. It really stuns them and since I really do make fair offers they always call me back. The closest I have come to a rejection was on my wife’s current car. I made the offer and then got tied up at work so the search stopped momentarily. When he called back 3 weeks later I got another $1500 by feigning disinterest.

 

[kenmac]

That's exactly what I paid for the same mule about 6 months ago. Mine was a 'demo' that had been loaned to the local small college. It had about 250 miles on it and came with a full warranty. Sales tax here is about 9.5% and that was included in the 18K.

Mine wasn't a demo and I really didn't need the wheel/tire upgrade, or the winch. I had never gotten stuck in the 4010 that I use to own and it didn't have a winch. just got a better deal on this because it was a left over 24 model ranch edition .

 

[Hay Dude]

I am in the negotiation process right now on a fairly large item. I’d like to share with you how I negotiated this sale.
It has sort of “evolved” over the last 2 weeks.

The first negotiating strategy I used was the truth or “facts” whichever you chose to call it.

I immediately noticed the unit is manufactured by a “tier-2” manufacturer, so it is automatically worth a bit less than the more prevalent “tier-1” manufacturers, despite being similar quality. The seller wasn’t aware of this and wanted same as the biggest/best manufacturer.
That was the first strategy that allowed me to negotiate price, but I never offered a number. He lowered the price because I merely pointed this out to him.

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The second strategy was also using truth.

While he lowered the price initially about 6% to keep my interest, I told him I was looking at other units. Of course, I did go look at other comparable units. In the ensuing days, he would contact me, but I would not return much communication. I let about 2 weeks go by, looking at similar units, letting the seller know I was looking at other similar units. Silence is a strategy. And of course competition is a strategy.

Then the dam broke over the weekend. He brought his price down another 6%. I believe it was because he understood he might lose me to another comparable unit. We talked a bit and I negotiated some additional services from the lower number HE gave me.
I never offered any number in the entire negotiation process.

It looks like the deal is done. Will let you know if it goes through. I don’t like to count my chickens before they hatch.