Abacus Wealth Management

Bei Ya Kuongea – Mastering the Art of Bargaining

Some find it too low class and pedestrian. Others see it as a sign of economic arrogance. But bargaining is an economically upright practice. This might be probably one of the reasons why most men would rather hunt squirrels with spears than take a woman shopping. Most women are known to be legendary hagglers. They will get it for a penny less or two if they can.

Bargaining on the street market or even at the salon is not easy. It is calculated and scripted, like a lie. You need to say your lines well without faltering, and blink at the right interval. You must make it believable that the amount in your wallet is 200 shillings, nothing more. And if you give him more, you risk sleeping in his stall or on the street. It also requires patience. The seller is not a fool; otherwise he wouldn’t be out there selling. He has his script internalized just like you have yours. It is a tug of war. You push, he pulls, and at some point if it is a successful buy, you both meet in the middle.

So what are some of the pointers to a perfect haggling session?

1. Remember, your uptown look does not help with haggling at all. Put the iPhone in the pocket and try not to floss your Rolex. The first sight does not matter to lovers alone. It does to sellers as well. The hawker will look at you and put you in a moneybox. Do not lead him on.

2. It is good to know the market price before you start the push and pull. It is only fair that you quote a realistic price and that you don’t get played.

3. Don’t be the first one to quote. Let him quote the price first.

4. Once the seller makes the offer, look shocked! Extremely shocked. Let him know that his is the highest price you have ever heard for that specific item.

5. Now quote your price. Do not quote exactly the amount you are willing to part with. You will of course have to meet the seller somewhere, even with an extra 20 shillings. That is always the deal. So quote your price.  Half of the originally quoted price is advised.

6. Once you quote your price, be prepared to handle him because he will act offended. It is all a script, always remember that. You must play right. Do not let his offended face weaken you.

7. Make sure you show interest during the push and pull. Hold the shoe in your hands and scrutinize it. However, let the interest be marginal. Sometimes a seller will take advantage if this and take you for a desperate buyer. Do not be obsessed with the item, acting like not buying it will kill you.

8. Once he refuses to come down to your preferred price, make it known that you would have purchased were it not for the high price. Feel no guilt pushing for a lower price. Attempt a walk off. Prepare to be taken on a guilt trip- on how you have quoted below the purchase price, and how much you are driving the business into a loss. I say again. Feel no guilt. Smile, and tell him how much you would love to buy at the quoted price, and how much you’d hate to be the reason his business will ‘go up in flames.’ You can push it further and pretend to walk off.

9. Two things might happen here. He will let you go because for real you quoted an unreasonable price, or he will run after you, with the item already packed and ask you for the money. Then click of course to show dissatisfaction.

10. Take it, pay, and say thank you. Promise to be back with your rich friends.

Remember, bargaining is a game, an art as well, but a person’s livelihood is in the line here. It is not just your pockets. Do not stretch the limits. Be reasonable. And be nice.

Happy Haggling!

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