What do you say when someone asks "What is your lowest price?"
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What do you say when someone asks "What is your lowest price?"
Hey, what is your typical response to the question, "What is your best/lowest price?"
My feathers get ruffled when I hear that, and I wonder if I should be looking at it differently.
I am selling my motorcycle and have a price listed, and someone asked for my "least price" (Idiot) but I want to know, do you set a low when selling a car, and if so what is it based on? e.g. Wholesale market, auction price, finance amount, etc...
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I just tell them, "As of right now, my lowest price is $____ and if it does not sell at that price I might consider an offer." I also consider how payment will be made when considering my lowest price.
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thats a fun one, I usually will go closer to my desired price but leave a little bit of room still for negotiation or a counter offer. It seems that when you give them the "lowest" price, they use that as a starting point...or at least I do so I've found it best to keep a buffer.
It's funny you bring this up, this drives me crazy as well. In my industry, I'm constantly negotiating deals. When someone asks me that, I simply respond with again what I have been advertising / asking originally. I'm not going to counter msyelf prior to them showing genuine interest. I will always let them know that I'm open to looking at any offer they would like to put forward, but I'm just not willing to counter mself.
I usually reply: “I think my asking price is very fair. However, feel free to make a reasonable offer and I'll consider it.” The absolute bottom price is what you feel comfortable selling your item for.
I dont think it is an ANNOYING question at all..it is a negotiation. Even if someone says FIRM on their price I always ask lower.
Come on...what is a definition of a "deal?" When both parties agree to a value of the item. So that is fluid and not locked ever. I consider the same as a JOB OFFER. The company is going to try and get as low as possible and you want as high a salary as possible...then you meet somewhere in the middle.
and dont tell me, when you are listing a price you are not padding it. If not than it is your bad. If I am selling something...that in my heart, I figure I would take $2000 for. I price it at $2500 obo. So there is room for wiggle. Of course someone will low ball and offer me $1500. I say no way...$2000...they say ok..$1700, I say $1800...DONE. Something like that...I mean thats typical.
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It's funny you bring this up, this drives me crazy as well. In my industry, I'm constantly negotiating deals. When someone asks me that, I simply respond with again what I have been advertising / asking originally. I'm not going to counter msyelf prior to them showing genuine interest. I will always let them know that I'm open to looking at any offer they would like to put forward, but I'm just not willing to counter mself.
I agree with this. People get nervous or feel awkward when it comes to negotiating money. If they can get you to drop the price right off the bat by asking you a simple question like this, why wouldn't they? Conversely, you don't have to work against yourself by letting them.
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Pretty standard practice IMO. Usually I know what the lowest I'll sell for is before I sell something and then mark that number up accordingly.
If someone bites on the marked up price, cool, I got more money than I would have sold it for, if they go lower to your lowest price, you're still good.
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I usually don't take somebody seriously if they ask this question. It's a cop out and one that, in my experience, is usually done by people shopping well outside of their price range.
I always have a lowest price in mind when selling items but you can't expect a coach to show his playbook.
thats my response...i usually ask what their highest offer is...then it lets you know if they are even in your price range...if they dont lowball you you can assume they are legitamate...when I sold a parents car the guy threw out a price that happened to be exactly what i wanted. Probably could have pulled a couple hundred more but I was happy.
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