Quote:
Originally Posted by Exhibitman
I watch Pawn Stars with my daughter and I try to use it to discuss negotiating techniques with her. One of the things I tell her is never to give your opponent information that can be used against you--like answering a cost basis question from an opponent or volunteering that the item cost a certain amount, or assigning a value to it. Whenever some rube tells Rick that he paid ten bucks for the item at a garage sale, you know he's going to get low-balled in the negotiation. The correct answer is "what I paid and what I value it at are irrelevant to the discussion of what it is worth to you on resale."
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You hit the nail right on the head with that one, Adam! From a sheer business perspective, Rick really knows his stuff--if he makes 1,000 deals and saves $100 on each one, he figures he's ultimately made $100,000 thereon.
Best regards to the most knowledgeable Exhibits guy I know.
Larry