Why do buyers all ask the same stupid question

[drooartz]

So I've been selling off vehicles this past week (3 in all). Two are gone now and I've got a few bites on the third. All of the buyers have asked some version of this question (all vehicles were listed with a price like "$XXXX or best offer"):

"So what's the lowest price you'll take?"

I want to answer with "What's the most you'll pay?" but always do some version of "I'm asking $X, but make me an offer and I'm sure we can work something out."

I get why folks want to know that piece of information, but why do they think I'll give it to them? Strange.

 

[JPSmit]

So I've been selling off vehicles this past week (3 in all). Two are gone now and I've got a few bites on the third. All of the buyers have asked some version of this question (all vehicles were listed with a price like "$XXXX or best offer"):

"So what's the lowest price you'll take?"

I want to answer with "What's the most you'll pay?" but always do some version of "I'm asking $X, but make me an offer and I'm sure we can work something out."

I get why folks want to know that piece of information, but why do they think I'll give it to them? Strange.

I realize you're likely asking that rhetorically but, I do recall reading a "how to haggle" article years ago and it was one of the suggested questions. So, it's out there and I suspect for people who just want rid of stuff (like yard sale stuff) it works.

 

[drooartz]

I realize you're likely asking that rhetorically but, I do recall reading a "how to haggle" article years ago and it was one of the suggested questions. So, it's out there and I suspect for people who just want rid of stuff (like yard sale stuff) it works.

I suppose if you ask that question you might get an answer and that gets you some leverage as a buyer. On the "it can't hurt to ask" track.

 

[Basil]

I just hoped my son but a PT Cruiser Turbo from a local lady. Her ad said $XXXX or best offer. So, made her an offer based on the prices I found in Kelly's Blue Book and Edmunds.com. My offer was less than her asking price, but reasonable considering the values that KBB and Edmunds stated for this year of PT Cruiser. She accepted the offer.

 

[CZ_Dave]

So I've been selling off vehicles this past week (3 in all). Two are gone now and I've got a few bites on the third. All of the buyers have asked some version of this question (all vehicles were listed with a price like "$XXXX or best offer"):

"So what's the lowest price you'll take?"

I want to answer with "What's the most you'll pay?" but always do some version of "I'm asking $X, but make me an offer and I'm sure we can work something out."

I get why folks want to know that piece of information, but why do they think I'll give it to them? Strange.

As selling things off is allowing me to survive these days, when people ask "those questions" I reply the price that is stated in the ad and quote the same price, and when they ask "are you firm on that?" I tell them that "CASH,... makes people do funny things, so if you are to stand in front of me and make a CASH offer, we might find a happy ending"

I won't even dignify making a purchase when I call on things I am looking to flip, I tell the seller, that I will come to inspect the item and then and only then will I discuss money.
It seems to make for a more comfortable transaction.

Read Herb Cohen's book "You can negotiate anything"

 

[JodyFKerr]

I often find myself at the opposite end of the spectrum. I go and look at cars all the time only to see a pile of car that is nowhere near what was advertised and even worse, not worth anything near what the asking price is.

9 times out of 10 I leave after putting down a fair offer on a business card. I tell them to give me a call when they're ready. I'm willing to bet that most of those cards get thrown away in disgust.

 

[Gliderman8]

Just an interesting story about buying and selling unrelated to cars. I was in Africa some years ago and was approached by a guy offering to sell me a hand carved statue. He asked me for $15 dollars. As I was trying to decide whether I liked it enough to actually buy it, the seller kept dropping the price; down it came from $15 to $5!
I finally decided that I would buy it and use it for a gift for a friend. I reached into my pocket and gave the guy his original asking price of $15. The look on his face was that there must be something wrong with me!
I gave him the $15 since the $10 difference would make a world of difference to him and at the end of the day I felt better not taking advantage of the guy.
OK, back to cars......

 

[drooartz]

I suppose that buyers are trying to figure out which party is the most motivated -- sometimes sellers need a sale now, sometimes there's less rush and top dollar is more important. Same issue for buyers, as I've certainly been in spots where I wanted the car more than I cared about getting the lowest price. It's all a bit of a dance.

In my next life I really want to be a sociologist -- I love studying the hows and whys of human behavior. Fascinating stuff.

 

[Boink]

As others have said, I think it's slightly rude to inquire on a different price when one hasn't gone to the trouble to SEE the vehicle (or gather details even by email). Otherwise, it's presumptuous to assume that a lower price is in order. OK, that written, the price might be obviously too high and the seller may need to know that (up front); otherwise, it might be a waste of the seller's time to inquire further.
My take.

 

[Guest]

but why do they think I'll give it to them? Strange.

Because you posed the question. I always do that too when folks don't know how much they will take. As someone who used to sell cars for a living, I hate wasting my time on shoppers. I'm only interested in buyers.


I always list what was done or needs to be done in an ad along with a copy of current NADA vaulues. I leave NO guess work to be done. Everyrthing a buyer needs to evaluate the deal is right in front of them. Whenever I sell, my price is FIRM. I figure the least I can live with and post that price...along with FIRM !!!! BOTTOM DOLLAR !!!! NO OFFERS !!!! DO NOT CALL WITH AN OFFER !!!! Respect my time and I'll respect yours.


I hate to have to be that forceful, but you would be surprised the amount of idiots that will still call and make an offer despite the fact I clearly stated not to. I feel that I have the right to promptly hang up on them like they are a telemarketer, as they clearly have no repect for my wishes or time.

If I do leave some wiggle room with price, I'm ALWAYS asked what's my lowest price is. I always reply, "I have to see money before I talk money, I certainly can't transfer cash or keys over the phone. I'm just as serious about selling as someone is about buying. Show up with cash and we'll talk."

If they then say, "I'll give you $XXXXX for it."

To which I'll reply," You'd buy a car over the phone without looking at it or test driivng it?!?!?!"

They always reply no and I point out it's just a waste of time to talk money before they even know what they are looking at or are able to even give me said amount. These people aren't serious and never buy. They just want to see if they can get you to come down.



FWIW, I have NEVER wound up selling to someone who makes an offer over the phone. They aren't serious buyers. These are shoppers. If you don't prequalify a buyer with your ad first, you'll wind up wasting a lot of time.

Personally, I can't stand people who don't put a price in their ads. I no longer call those. I've found they always want too much, try to "sell" you the car and always have a big long speach/list of things the feel compeled to suject me to in order to justify their price before they can answer one simple question, "How much will you take for it?"


I don't see how they can expect to sell something without the most important part of a sale...the price.

I also can't stand when someone points out an obvious flaw when calling about something trying to beat down a price that I made it clear was FIRM!

"But it's got --------!"

"You saw that before you called, right?

"Yes"

Then if it's a problem, then why did you call ? Did you think I didn't notice it and needed to bring it to my attention?

"Uhhhh, no"

"Then why did you call me if it's a problem?"

They never know how to respond to that.



Or another favorite, "Well ----- down the road has a ---- for $XXXXX." (AND IT'S NOT THE SAME CAR!)

"Then go buy it! That has nothing to do with me or this car"

I once had a punk 16 y.o kid come out and tell me for five minutes what a POS my car was. After his rant, he asked if he could test drive it. I responded, "You said it was a P.O.S, right? Why would you want to test drive a P.O.S ???" and then I walked away.

You shoulda seen the shocked look on his face. His mouth literally dropped open. It was the last thing he expected. I still laugh about it.

Be honest, nice and direct and it'll sell. Everyone else is just a waste of time.


I know I sound like I'm hard to deal with or harsh but I'm not. I'm honest open, helpful and always happy to answer any questions or devuldge any flaws. I have no use for anyone who doesn't respect my wishes or time. Lay it all out in the open in your ad and you usually only have to take one phone call. Rarely will I ever have to take more than one. I usualy sell in the first week. Rarley will it go two.

I have on occation been called and offered money on an O.B.O deal and responded and sold ONLY beacause they stated they were at the car and had CASH IN HAND!

At that point I only say I will immeadiatly meet them there. If they hemhaw at all they aren't serious and never buy. Once a guy said he was there with cash. When I said I was comming he said he left and was already gone, to call him tomorrow. I never did. Lie and play games...no soup for you...


That is what you're after, selling the car not talking about selling it. I'm not difficult, I just don't put up with crap. If you list things the way I do, you'll find only nice friendly respectful people will call.


Bottom line, get as serious as they are.

You got cash in hand and are there? I'm on my way !

 

[drooartz]

So how do you really feel, Billy...

To clarify, these questions have all been in person as folks were looking at the car or bike in question. It's just a pet peeve of mine as I was clear in the ad that I had a price (set reasonably) and that I was taking offers. So make me an offer already -- I've put my line in the sand (asking price) so put your line down and let's get to work.

I've always got a firm minimum price in mind that I would accept. When time is more important than money I'll set that as the asking price (firm) and off we go. If I've got more time I'll set it more market based and see what happens. I'm not doing this for a living so I'm usually in no big rush and don't mind the shoppers as much. But if we've gotten to the negotiation stage, let's get to it.

 

[Guest]

I'm with ya, if they are there, you have a price set and they don't make an offer walk away. Shoppers. I think some people get some kinda jollies if they can get someone to come down even if they know they won't buy. In your case it sounds like they are hoping/willing to buy only if you give it away.


"no soup for you".... :smirk:

 

[mailbox]

I want to answer with "What's the most you'll pay?"

Been there, done that, got the tee shirt for it.

 

[John Turney]

I knew one guy who said "The price is (say, $5,000 for example) firm, or $7,500 negotiable."

 

[CZ_Dave]

Bottom line, get as serious as they are.

You got cash in hand and are there? I'm on my way !

No, Really, don't be shy, Kellysguy,
How do you REALLLLLLY feel?


I have even gone as far as putting in all my ads
"cash makes people do funny things"

And still people don't understand this, and ask over the phone,
"so how low will you go" and not to be rude, I tell them that I will not negotiate over the phone, BUT if you read the ad, it states in there "cash makes people do funny things"
SO bring cash and we will see how low I will go!

And we still get the calls form the morons who can't read english.

press 1 for english

 

[Guest]

I love the people who call and ask how much am I asking for it...when I purposely put the price right next to the phone number <span style="color: #FF0000"><span style="font-weight: bold">IN BOLD RED NUMBERS</span>.</span>
I ask them if they saw the car and they say yes. I tell them apparently they didn't take a good enough look, that the price is right next to the phone number. I suggest they return and look at the car once again to make sure they didn't miss anything important.... <span style="color: #FF0000"> <span style="font-weight: bold">LIKE THE PRICE </span> </span>


Ya'll have to understand, I've had 20 years of this.

 

[PC]

... I do recall reading a "how to haggle" article years ago and it was one of the suggested questions. ...

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[vagt6]

But . . . no matter what we're selling, we must remember the Golden Rule of customer service:

"The customer is always right".

In other words, respecting your buyer's needs and being polite will, generally, earn YOU more money when the sale is finalized.

Be nice, respect your buyer.

Pure gold.

 

[drooartz]

Be nice, respect your buyer.

Precisely why I don't always say what I'm thinking... I do a fair amount of customer service work for my day job, so I get in that same mentality when dealing with sellers or buyers.

Some of it I think is just a bit of awkward semantics -- I'm not sure that most folks know how best to open negotiations, so asking this sort of question is just a way to get into that part of the process.

It's all a small thing, really. So long as the stuff gets sold I'm happy.

 

[Boink]

Reminds me of the time we had a garage sale (years ago when the kids were little) - note to self, don't ever do that again - and we were getting rid of a lot of stuff. My general philosophy is that I want to get RID of something and I will price it VERY low so it will go away (otherwise, I'll take it to charity and write if off). So, we had a snow sled (Flexible Flyer or equivalent). It was a bit of an antique and probably worth $10 or more. I priced it for $1 (yep, just one dollar) and some clown shows up and say he'll offer me 75 cents! I said "I would like to counter-offer that 75 cents." To which he said "I'm listening" and I said "you can have it for $3, otherwise I'm donating it to charity." The guy wanted to haggle for 25 cents!!! I guess some like the thrill of the hunt more than they have good sense.