Before getting to the formula that will make you the best bargainer any merchant (business man or woman) has ever seen, these some of the facts you should know;
Fact #1:
Every business person is always willing and ready to give a discount on any commodity just to make sure he sales it off.
Fact #2:
Always, there is a lowest price for every commodity in the market.
Fact #3:
Price discrimination is a fact in many markets.
Fact #4:
Personality has a lot to do with prices, but status doesn't mean you'll get a commodity cheaper or expensive.
Fact #5:
Politely, humbly and in a friendly-funny way, proving to any business person that you're aware (informed) about the commodity (it's good and bad side) and the prevailing market price will earn you a discount.
Fact #6:
Patience will always earn you a discount before most business people if they realise it in you. It's good to wait for "rush-rush" customers to get what they want first and then follow with a bargain.
Fact #7:
It's good to survey the prevailing price(s) of a given good at both whole and retail sale. This will help you make a bargain in the way that doesn't irritate the saler but gives you an advantage.
Fact #8:
A customer that returns to the saler, in most cases, stands a chance to earn a discount, so it's good to always return to the person you last bought from a given commodity; it's good to know your suppliers... and continuously buying from them will earn you a discount.
Fact #9:
But, also a good new customer stands a chance to earn a discount, so, make sure the first impression you give earns you sympathy; a discount.
Fact #10:
Avoid places with fixed prices if you want to enjoy bargaining.
O, however, many times salers prefer selling at a high price because this broadens their profit margine, so they will always try as hard to sell to you at a higher price.
While bargaining, always esnure that the sales person offers you his or her commodity at the lowest price possible, but this takes patience and good speech, so don't rush or you'll buy at the highest price available in the market.
When a sales person tells you a price, in most cases it means that the given price is the highest at which he or she can sale that given commodity to you, but not to all he can sale the same commodity.
In most cases, the "normal" price for a given commodity is always approximately 60% of the first given price, but a good bargainer stands a chance to drag it down to 30 or 40% of the first given price. If the first price was exaggrated or if the saler hasn't made any sales or is tired, has encountered a loss, has already sold at abnormal prices, is winding up the stock and has already made a lot of profits, is impressed or challenged by the bargaining power or language, or can still earn a profit even when he or she sales it at 30 or 40% below the first quted price.
I guess this is a good guide to lead you to the market. Let's go shopping...!
