The Art of Haggling: 5 Tips for Bargain Shopping

The Art of Haggling: 5 Tips for Bargain Shopping

If you’re a shopaholic, then you might as well be a smart one. There are people who know how to sniff out a deal from a mile away and negotiate deals like top-tier sports agents. The good news is that you can become one of those bargain shopping gurus as well.

Believe it or not, when you’re dealing with a private seller, prices are almost always negotiable—you just need to know how to negotiate. Getting the best deal possible requires that you balance standing firm in your spending convictions and being willing to give a little to get more. Continue reading to get more haggling and bargain shopping tips.

1. Know the value of the item you’re interested in.

When it comes to negotiating to get a discount on a product that you desire, knowledge is power. How can you tell a merchant how much you should pay for an item if you don’t have any idea about how much it’s worth? The more you know about the product’s value, then the better you’ll be able to negotiate a fair deal.

Before you go to a merchant and try to get a deal on a product, do some intense research first. When approaching a seller about coming down on their price for a piece of jewelry, you need to know what the piece is worth.

Also, you should do some reconnaissance on the merchant and their competitors as well as the piece before going into negotiations. One of the most powerful tools you have in a negotiation is the ability to walk out and take your business to your counterpart’s competition.

2. Buy secondhand and refurbished goods.

One of the keys to being a great bargain shopper is to know where to look for great bargains. One of the main things that people overpay for is technology.

New devices hit the shelf almost every day, and there are tech enthusiasts who would give their all to be the first with the latest iPhone or Galaxy. Every year, people spend billions of dollars on smartphones, their accessories, and other new devices.

You can get the latest smartphone for half of what others pay for it if you’re willing to be patient and buy used. You can find refurbished cell phone deals in a matter of minutes online. Being a great bargain shopper is as much about having a keen eye for a great bargain as it is about haggling.

3. Let the other party make the first proposal.

Often, people talk themselves out of a great bargain by being the first to speak. Sometimes silence is golden, even when negotiating.

One of the most important things about negotiating a price is to always let the other side make the first offer. Letting your counterpart make the first offer gives you an idea of how much wiggle room you have to work with. It also keeps you from blurting out a number that the person you’re negotiating with can’t wait to jump on.

4. Don’t be afraid to ask for what you really want.

One of the main keys to haggling is to ask for what you want without flinching. If you’re shopping for womens business casual clothes and feel like a certain pair of peep-toe shoes should come with the suit, then go for it. One thing is certain, if you don’t make the request, then you won’t get those shoes. Even if you can’t get the shoes for free, you may be able to get a discount on them. But the key is to ask for what you want because closed mouths don’t get fed.

5. Be firm but friendly.

One of the most important things to remember when haggling over prices is to keep it friendly. Remember, merchants are in business to make a profit and not for the joy of negotiating prices. Your best bet at getting a good deal is to remain friendly in your approach while remaining firm in your conviction to get a bargain.