A Negotiations quiz this time!

Bykeatingcwk

A little Negotiations 101 question for you….  Settle a bet that I witnessed the other day between two friends:

SITUATION: You are in a negotiation and you set a value range (let’s say $200-$275) that you are willing to accept prior to entering the negotiation.

QUESTION 1: If the negotiation starts above that range and never gets into your range, should you consider bidding on the item?

QUESTION 2: If the negotiation ensues and the bidding ends up that the final offer the person you are negotiating with is willing to accept is $274, do you accept or do you deny?

Friend #1 said that he would accept the deal because he has done the math to validate the fact that he can still make money off the deal.  Otherwise he wouldn’t have set that range.

Friend #2 said he would deny the offer because $274 is at the high end of the acceptable range, and if you pay that close to the high end of your range, then you lose because you aren’t getting the best value out of the market.

Which friend do you think is correct?

 

BTW, the answer to the other question was that there is no Starbucks in Starbuck, WA

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4 Comments

  1. Hi Chris. Well I work with negotiations all the time. Well if you are the only two and you set a range of 200-275. Id say accept. Of course Im thinking the original price must be more…say $300. or the seller isnt negotiating in good faith. one dollar less isnt a negotiation. imho. ma

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