Putting a Price On your Car

The shop owner then did something that absolutely destroyed the couple. He said, "Okay." No resistance, no attempt at negotiation -just "Okay."

The couple took the clock home and hated it. Why? Because the shop owner had violated the one rule of negotiation: You must make the buyer feel like he or she's gotten a deal. That they've won. This couple left wondering if the clock was worth $250, much less $500. Why had he given in so quickly? Unless maybe he knew something they didn't. Now, had the shop owner attempted to negotiate, had_ he said he couldn't part with it for less than $400 and then settled at $375, the couple would have left believing that not only had they managed to "steal" the clock, but they had proved themselves able negotiators. The satisfaction would have been not only in owning the clock, but in the achievement of a negotiation victory.

Let the, Buyer Think He or She Has Won
Keep this in mind as you price your car: You want to leave "victory" room. One of the great ploys of successful car salespeople is to make their customers feel that they have somehow won the negotiation and have gotten a deal. The salesperson lets the customer believe he or she has won as they laugh all the way to the bank.

In addition, people expect you to negotiate the price. That's part of the game, and if you deny them the opportunity to play the game, they may not buy your car. So the key is to put your price above that which you really want or need to get. If by chance someone pays your full asking price, then you really have done well.

The only exception to the tactic of creating negotiation room is in those situations where you have a truly unique, one-of-a-kind high-demand car. One that is so sought after you might find two potential buyers bidding up the asking price. Note, however, that these situations are rare ... very rare!