Haggling 101

The Route to Traveling on a Budget

Haggling, or as Wikipedia calls it “Bargaining”.  In an excerpt from Wikipedia located at Wikipedia Bargaining they refer Haggling as “is a type of negotiation in which the buyer and seller of a good or service debate the price and exact nature of a transaction.”  This type of negotiation is key to keeping your bank accounts high and the money coming out of your pockets low.

How to Haggle (and save money)

  1. Don’t seem too interested.  “I kind of like this one” is my go to line.
  2. Let them sell you on the product.  Don’t confuse this with letting them actually sell you the product, but rather let them “sell” you on the benefits of having such product.  This allows them to get their time invested in you.
  3. Try to wait for them to tell you how much it is, but a price doesn’t come up quick then ask.
  4. Take that price, then counter offer with 1/5 of the original price.  Example: If a guy in Haiti offers a mask for you for $65, offer him $13 bucks for it.
  5. He’ll give you a really hard time – that’s the point.  Wait for his counter offer, and then put the mask your interested down.
  6. Slowly walk away, and you’ll get hit with another counter offer.
  7. Offer 2/3rds of the price that he offered with his latest counter offer.
  8. Buy it for that price if he obliges, but make sure to not have enough $$.  If he said yes to your offer than you could have done better. “I know we agreed on $23, but I only have $20 I hope that’s OK?” – then put the money right in his hand then walk away.
  9. If he doesn’t agree then walk out of the store.  Remember that number.
  10. Come back to the store later on.  Take the difference between the two prices, and offer that.
  11. When he accepts the final offer make sure to do the “I only have this much $$ trick”

 

Sounds fun right?  Disclaimer:  The store owner will get emotional, and say anything he can to persuade you to buy at his price.  When you walk out the store after getting your haggle on make sure to look back to see if he’s happy or upset.  Upset means you got a good deal, but if he hits you with a wave & a smile then you got screwed!

 

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