There are many countries in the world where bargaining is a daily practice, which has its own uses and codes. Not everyone is used to this, and we may end up being victims of overpayments or missed opportunities. Therefore, it is very important to know some tips to haggle.
Bargaining is that negotiation between a buyer and a seller around the price of a product or service. Typically, the seller asks for a much higher value for their merchandise, waiting for the buyer to offer a lower price.
The goal is to reach a cost that satisfies both parties, although, in general, the seller has all the money to win.
Although in principle haggling has no mystery, yes it is important to know the best way to do it. In countries like Bolivia you can pay up to 10 times more for a product if you don't haggle properly. And there everything is haggling, everywhere. These tips can help you.
To haggle properly, you must have a general idea about the price of a particular product. It is not enough that you do a survey among the merchants, which usually have the same base price.
In this way,You already know the starting point for negotiation. Also, avoid that, if they see you with very little experience, they decide to raise that base price.
It is essential that you are familiar with the local currency. Particularly, you must be very clear about the change of one dollar or one euro in the specific market. Otherwise, you could get confused. Many thousands can be equivalent to a few dollars, or vice versa.
Just don't go haggling carrying foreign currency. This is done in local currency, better low denomination. Make sure you have it before you haggle.
Bargaining is a small war between conflicting interests. But beware, it is a "friendly war," so to speak. You should not be angry if the merchant is very stubborn, or if he invents things that you know perfectly that are not true.
The idea is to keep everything in a cordial tone, but without losing firmness. If everything stays within the limits of the camaraderie, you are more likely to be victorious. If the seller is rude, just don't negotiate.
Before buying anything, you must keep in mind how much you are willing to pay at most for the product. Set that price based on previous quotes and asking the locals about the matter.
At the time of negotiation you can discover that the price you set is not realistic, but there are sellers who are very close to it. Do not miss the opportunity to buy something if the difference is very small.
Definitely, The best time to haggle is in the hours before the trade closes. Sellers are tired and, if they have not had a good day, they will be more flexible.
But it's not always like this. In some places it is also good to try early. There are many informal sellers who have the superstition that making the first sale as soon as possible will give them luck during the rest of the day.
Particularly in Latin America and Asia, and in the most popular markets, it is advisable to offer less than half of what the seller asks you. If he asks you for 10 dollars, he offers three, although the seller laughs.
The game is that each one yields until reaching the true cost that satisfies both parties. If your initial offer is very high, the result may not be the best.
A good bargaining technique is to ask first about other products, different from the one that interests you. Make haggling simulations with lower priced products. Then go to the one you want. The seller will feel that he has a better opportunity and will be more open to negotiation.
If you go with someone, let one be the friendly and the other the inflexible. Play with that duality. Remember that if you see a very poor or needy seller, bargaining with him would be too selfish.