Negotiating Essay example - 1017 Words

Negotiating The Situation: I am trying to sell my 1998 Volkswagen Jetta GL so that I can put a down payment on a new Subaru I have already agreed to buy. In fact, I am supposed to go and pick up the new Subaru tomorrow morning. If I am unable to sell my Jetta by tomorrow, I will have to borrow the money for my down payment at prime plus 5% interest. Needless to say, I would like to sell the Jetta today for no less than $4,700, which is what I need to put a down payment on the Subaru. If I am unable to sell to the party I am negotiating with, the Subaru dealer said he would buy it for $4,400, but I think I can get more than that. Negotiation Arrangements: The buyer I am negotiating with is Carole Meriwether. We have agreed to†¦show more content†¦Because of todays marketplace, I will stress the fuel economy and the reliability the most. Throughout this process, however, I will be asking Carole leading questions like, what will she be using the car for, will she be the only driver (if she has kids I will highlight the dual airbags). I expect I will have to make concessions, but I would like to get $5,400 and my resistance point will be $4,700. Target Setting: My asking price in the negotiation will be $7,800. It seems high, but in order to reach my specific target point of $5,400, I need the extra room to make concessions. I feel like $5,400 is a reasonable price for the car given the bluebook retail value is $6,600 and the average trade-in value is $5,125. After the Negotiation Carole and I met in BAH at 6:30pm and the negotiations were over in about twenty minutes. I do not have much experience to compare this too, but I feel like we discussed all the issues and I feel like I got the best price out of her that I could. In a buying and selling situation, I think that is it common for the buyer to say how much they want for an item, so I felt comfortable going first. I opened the negotiation with an asking price of $7,800. It soon became clear from her lack ofShow MoreRelatedNegotiating Skills2941 Words   |  12 PagesNEGOTIATING SKILLS CASE STUDY TOPIC: MANAGING INDUSTRIAL UNREST: A CARIBBEAN CONUNDRUM By David A. Matthery Table of Contents Executive Summary 3 Identification and examination of angle being used 4 Case Analysis (Application of negotiating skills concepts) 5 Conclusion 10 BibliographyRead MoreThe Art of Negotiating1715 Words   |  7 PagesThe Art of Negotiating : The Art of Negotiating T. 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