Haggling is an accepted practice for determining prices for tradesmen. When when using local tradesmen always haggle the price. This implies that both you and the tradesmen should negotiate to reach a selling/buying price that is okay for either you or the seller. You should also understand that a seller will want the highest possible price while as a buyer, you are interested in the least possible price.
What to do before you haggle
Think about the cost of carrying or shipping the item that you are buying. Additional costs may be too high to limit the gains that you make by haggling a low price. Ask yourself whether you are comfortable with the cost.
Secondly, know the location of the tradesmen. If it is a busy large market, in a tourist town, think twice because merchants are notorious for over quoting prices so that the haggle price is actually still high than conventional prices. They take advantage of the lack of local knowledge by the tourist.
Boost your self-confidence and assurance that you are able to haggle. Being confident or appearing to be confident are essential qualities for bargaining prices. Tradesmen watch out for nervous buyers. They spot this as a weakness, take advantage to offer a high price, and pretend to cut a large chunk while still selling an item at a decent profit. Be confident even when quoting ridiculously low buying prices.
How to haggle
Ask for the offer and then wait. After the first offer, assume interest and then ask for a second lower offer. Tell the merchant that the first offer is way to high for the item. After the second offer, make a claim for half or slightly above half of the offer.
Give all kinds of reasons that you can come up with for your offer. If nothing comes to mind, just stick to a price and keep saying that the tradesmen should lower their prices to your level. By this time, the seller will be hinting at an acceptable price of the item. If you think there is sufficient need and interest of the item from your part, slightly adjust your offer, very slightly, and ask the seller to go lower.
Ask for volume discounts. For example, tell the merchant that you might buy mor if the price is good. Normally, merchants may be interest in volume sales and can lower their prices under these conditions. Nevertheless, asking for a volume discount only helps you to understand additional pricing points of the seller.
Things to avoid doing
Do not push for a settlement; be flexible and willing to leave should the price not suit your pocket. Being pushy can cause a seller to ask you to go away. Just wait for a counter offer on your price and stick to it while using common sense to judge whether you have a good deal.
Do not haggle on everything. Consider what you want to buy and ask prices from different local tradesmen before settling on one, where you proceed to haggle. For more helpful tips watch the video below. It could save you a bundle!