The art of negotiationContrary to what most people believe, the initial price set by a seller is not always a final, immutable fact. Unless both seller and buyer agree on it, the price remains to be a proposition set by the seller. And you, the buyer, can negotiate for a better price – if you are prepared to drive a bargain. So, how do you do it without offending or earning the ire of the seller? Here are some tips on how you can get a better deal by haggling the right way:

Change your mindset. To perfect the art of haggling, you may need to change the way you see it. If you previously think that haggling is nothing but a cheap shot to get lower prices, you need to make a complete turn-around and start thinking about it as a savvy move to get better prices. Think of haggling as a means to break your bad money habits and you’re good to go.

Do your research. As always, you should do your research first before trying to buy something, especially if it’s a big ticket item. Arm yourself with the prevailing rate for an item or service so you can negotiate for a better price. However, don’t try to lowball the seller by going lower than 25% off the ticket price. You should also try to learn about the markdown policies of the store and ask about store coupons, discounts and any scheduled future markdowns to be able to get the best deal for your hard-earned money.    

Show some respect. Being nice and cordial when negotiating for a better price will help you achieve your purpose while being grumpy and disrespectful when haggling is a sure way to lose any chances you have of securing a better deal.

Do it in private.
As a general rule, you should never try haggling in public where other customers can hear you. No seller will be willing to give you a discount under such circumstances for fear that the other customers will follow suit.

Find valid reasons why they should give you a discount. If you really want to increase your chances of getting huge discounts, try shopping at the imperfect rack. Sellers are often happy enough to get rid of these slightly damaged items that they are willing to give great discounts just to recoup their investment. So, if the damage is fixable and is not that significant at all, this can be a great idea to consider.

Don’t show it. Do not let the seller know how badly you needed something since they can use it against you. Do you think the seller will give you a better deal if you are willing to pay a higher price for it? Think about it.

Mastering the art of haggling can help you get a better deal for your money – especially if you know how to do it right.