Selling stuff online, how to negotiate price?

[goldenstar]

Hi all,

I''m selling a secondhand item online (craigslist and the like) and I''ve received inquiries asking if I''m willing to negotiate the price. I am, but I don''t know how to do it. Should I let the potential buyer make the first offer, or should I make an offer first?

On one hand I don''t want to lowball it so much that I miss out on a good sale price, and other the other hand I don''t want to scare buyers off by asking for too much.

This is a big ticket item so its not a small amount that is at stake. To give you an idea, my asking price is $3400 but I am willing to go down. I''m not sure how much lower, it would depend on how motivated to sell I become.

Does anyone have any tips? It would be much appreciated!

 

[neatfreak]

I would let them throw it out. Just say, "yes I am open to negotiating. What did you have in mind?" and you can go from there.

 

[scarleta]

It would depend if the item you are selling is easily available elsewhere at more reasonable price.
If so then you really don''t have much room providing that the buyer is aware of your competition.
If on the other hand the item you have is not easily available at the price you are offering then you have a good chance to get close to what you want.
In this case you can point them to identical or similar item at a higher price and point it out to them that they would also pay taxes etc if applicable.
Start your negotiations in small increments and if you have more than one person interested in your item you can take advantage of it and make the other potential buyer aware without scaring them off.
Good luck to you.

 

[diamondseeker2006]

You have set the initial price. Then it is up to them to make an offer. Generally you''d come back with a counter-offer (something in between).

 

[Gypsy]

Ask them to make you an offer. See where they are at, then go from there. Have a firm idea in mind of how low you are comfortable going. And if you counter their offer use words like, "I''m sorry, I can''t let it go for any less than THIS PRICE." So they know that it''s a final counter.

 

[D&T]

i''d just let them know there are a few other buyers interested as well, and I''m looking at all offers and to let them know of a timeframe of who you would want to go with and if they ask to hold the item, more often than not, it never works out well at least for me anyways on craigslist, then it starts all over again.. Good luck.

 

[Dancing Fire]

Date: 5/30/2009 7:01:15 PM
Author:goldenstar
Hi all,

I''m selling a secondhand item online (craigslist and the like) and I''ve received inquiries asking if I''m willing to negotiate the price. I am, but I don''t know how to do it. Should I let the potential buyer make the first offer, or should I make an offer first?

On one hand I don''t want to lowball it so much that I miss out on a good sale price, and other the other hand I don''t want to scare buyers off by asking for too much.

This is a big ticket item so its not a small amount that is at stake. To give you an idea, my asking price is $3400 but I am willing to go down. I''m not sure how much lower, it would depend on how motivated to sell I become.

Does anyone have any tips? It would be much appreciated!

be careful, don''t do the transaction at your house.

 

[goldenstar]

Date: 5/30/2009 9:21:33 PM
Author: Dancing Fire

Date: 5/30/2009 7:01:15 PM

Author:goldenstar

Hi all,


I''m selling a secondhand item online (craigslist and the like) and I''ve received inquiries asking if I''m willing to negotiate the price. I am, but I don''t know how to do it. Should I let the potential buyer make the first offer, or should I make an offer first?


On one hand I don''t want to lowball it so much that I miss out on a good sale price, and other the other hand I don''t want to scare buyers off by asking for too much.


This is a big ticket item so its not a small amount that is at stake. To give you an idea, my asking price is $3400 but I am willing to go down. I''m not sure how much lower, it would depend on how motivated to sell I become.


Does anyone have any tips? It would be much appreciated!

be careful, don''t do the transaction at your house.

Don''t worry, I won''t! The item will likely be shipped and if it isn''t I''d meet somewhere away from my house and safe.

 

[goldenstar]

Thanks for the responses! You all really helped a lot. I am such a newbie at this type of thing and since its a good chunk of money I don''t want to mess it up (and I want to protect myself). It looks like I should let the buyers come up with a number and work from there.

On a related note, if and when I do find a buyer, what is a safe mode of payment? I''m thinking Paypal or cashiers check but I know that problems can still arise with those two options. Any others I might consider?

 

[Dancing Fire]

Date: 5/30/2009 9:59:55 PM
Author: goldenstar

On a related note, if and when I do find a buyer, what is a safe mode of payment? I''m thinking Paypal or cashiers check but I know that problems can still arise with those two options. Any others I might consider?

U.S. postal money order.

 

[strmrdr]

Date: 5/30/2009 10:23:01 PM
Author: Dancing Fire

Date: 5/30/2009 9:59:55 PM

Author: goldenstar


On a related note, if and when I do find a buyer, what is a safe mode of payment? I''m thinking Paypal or cashiers check but I know that problems can still arise with those two options. Any others I might consider?

U.S. postal money order.

and meet at the post office, or cash

 

[isaku5]

I''ve sold several pieces on eBay that were high value items and, although I don''t like their fees, PayPal has worked well for me. If you consider using PP, figure that cost into your lowest acceptable price.

Good luck!!