It’s always important to consider your pricing strategy when you sell.
Recent research shows that in negotiations, higher first offers from sellers drive up sale prices—reversely, buyers benefit from lower first offers.
Here’s what they found. In an experiment involving customers in an antique shop, when a 1910 oak writing desk from the Jugendstil period was offered for €1,185, the average agreement price was €1,046.19; if the opening offer was €1,200, the final price was just €929.50 (customers didn’t actually buy the secretaire; they were simply asked to settle on a price).
Are you rethinking your pricing strategy?