Here is a paraphrased recounting of an actual price negotiations exchange a couple of months ago between me and a customer who was attempting to buy a used Volkswagen Jetta that we had for sale.
Customer: “Is $ZZ,ZZZ your best price?”
Me: “Yes, it is. The car has already been marked down twice. This is as low as we can go.”
Customer: “Hmmm, well, I don’t think it’s worth quite that.”
Me : “Oh-kay…, well, I'm sorry you feel that way. We put the car on the market for $XX,XXX, which was at market value. After 30 days we marked it down. And then just last week we marked it down again. So now it is priced well below market and is a heck of a good deal. Um, just curious, then, what do you think it’s worth?”
Customer: “How should I know? You’re the dealer!”
He bought the car for $ZZ,ZZZ.
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