why do people post a higher price than what they'll accept when selling?

[The motor guy]

I just bought a boat trailer and I already knew what the guy was asking based on the ad. I guess this is a little trick of mine. As time goes by and more people look, the price goes down automatically. He had it listed for $1100 and I asked how much he wanted for it he goes $900. SOLD! I was just going to offer $1,000 even to cover the taxes and registration lol. I don't get why people do this though. I guess they figure since you're standing in front of them they just tell you what they really want? Maybe they forgot what they had it listed for? Atleast start with the listing price and work down from there lol

 

[fantastic]

Seriously?
You know that people want something for less.

I've posted sale ads over the years for what I wanted out of the item but ended up letting it go for less. That's not "Posting a higher price" per se. Seems the seller was reasonable to me. Listed it for $1100 but let it go for $900.

The real problem is folks posting absolute garbage that should either be donated or given away but they want too much money for it & won't "budge on price".

 

[The motor guy]

Seriously?
You know that people want something for less.

I've posted sale ads over the years for what I wanted out of the item but ended up letting it go for less. That's not "Posting a higher price" per se. Seems the seller was reasonable to me. Listed it for $1100 but let it go for $900.

The real problem is folks posting absolute garbage that should either be donated or given away but the seller wants $ too much for it & won't "budge on price".

Obviously, but you're missing my point. Atleast let the buyer spit out a number first

 

[Tdbo]

It doesn't matter if something is reasonably and fairly priced, just about everyone wants it for less.
However, the only thing I will volunteer is the asking price.
So if I am selling a car for example I will take my desired price and add 2-300 to it to allow a buffer for "Dealing."
If they come in less than that, I'll either consider the offer, say no, or cut the conversation short.

 

[fantastic]

Obviously, but you're missing my point. Atleast let the buyer spit out a number first

Maybe but Why? You asked him "How much he wanted for it?" so the seller has the decency to answer your question.

 

[dadto2]

Here are a bunch of maybes:
His wife just told him it has to go.
He's tired of it sitting in the driveway and needs it to go
You're the only person who responded to his ad after 3 weeks, and he really wants it to go NOW
It's his brother's trailer, but he was put in charge of selling it and just wants it gone
And the list of reason could go on and on and on...

 

[55hambone]

No matter what the price is, people are going to try to beat you up to get the price lower. Ask a price higher than the price that you really want and you can either make more money or avoid the beating and let it go for the price you want.

 

[tnt_motorsports]

I think the simple answer is psychology. In this instance, both the buyer and seller feel like they got a deal.

 

[zzyzzx]

Even if you post something priced to sell, they will still offer less.

 

[cptbarkey]

Uh huh, well, good for you on the new boat trailer for less than expected. He probably would have taken $800

 

[rszappa1]

Its called wiggle room....

 

[BHopkins]

Obviously, but you're missing my point. Atleast let the buyer spit out a number first

From the thread title, I interpreted it the same was as @fantastic. But now I get where you are going. What you are really saying, is many sellers are all too quick to agree to a lower price, without the buyer even really asking for a lower price, but instead, just asking what the seller wants for the item.

I totally understand why sellers list an item for more than they hope for. But I don't get why some are so quick to agree to a lower price. I make buyers work for a lower price, especially if a potential buyer is already meeting with me.

I recently sold a .22 pistol. The buyer asked me in a text message conversation, if I would take $75 less than my asking. I was asking $50 more than what I wanted for it, but I intentionally hesitated in my response to his -$75 offer. Before I made a counteroffer, he sent me another text, offering to pay my asking price. Who am I to argue with someone who has very limited negotiation skills? I took the full amount.

Just this week, I also sold a .22 rifle. In this case, I was asking $25 more than what I wanted, but I would have settled for $50 less than my asking price. The buyer didn't even ask me what I would take, instead just paying my asking price. He was a super nice guy, but again, why would I turn down what someone is willing to pay? Perhaps I had underestimated it's value.

 

[fantastic]

Supposedly, in this instance the seller offered $100 less than what OP was going to offer & came here to post "Why" the seller would do such a thing after OP asked them "How much they would take" first. Saving OP $200 off price!

OP could've just given the seller exactly what they were asking, like some do, or not ask the seller "How much they'd take" first if you don't want them to answer the question.

Can't make this stuff up!

I'm out, I'm done!

 

[Skippy722]

That’s his “I have better things to do” price.

Or he got a killer deal on it and he’s still coming out ahead

 

[BMWTurboDzl]

I just bought a boat trailer and I already knew what the guy was asking based on the ad. I guess this is a little trick of mine. As time goes by and more people look, the price goes down automatically. He had it listed for $1100 and I asked how much he wanted for it he goes $900. SOLD! I was just going to offer $1,000 even to cover the taxes and registration lol. I don't get why people do this though. I guess they figure since you're standing in front of them they just tell you what they really want? Maybe they forgot what they had it listed for? Atleast start with the listing price and work down from there lol

The same reason why buyers don't have a problem with the advertised price but must negotiate for a lower price.

 

[tcp71]

It's about "THE DEAL". To brag later how he talked the seller down, showing his amazing negotiating skills. I always add 20% to what I want so the buyer can feel good and brag to his friends.

 

[Blagoje]

I want to sell something for $1,000 but I advertise it for $1,500. If someone is happy to pay $1,500 for it, we are both happy. If someone offers me $900 and I am unwilling to accept that offer no deal happens.

Business only occurs when at least two parties come to one agreement. If everyone sold everything at break even or a loss, less business would occur, which is effectively what the OP is asking as to why this is not occurring more often? If someone has less money to spend because they've then they can't spend it on other things which means less business occurs.

 

[Lubener]

I want to sell something for $1,000 but I advertise it for $1,500. If someone is happy to pay $1,500 for it, we are both happy. If someone offers me $900 and I am unwilling to accept that offer no deal happens.

Business only occurs when at least two parties come to one agreement. If everyone sold everything at break even or a loss, less business would occur, which is effectively what the OP is asking as to why this is not occurring more often? If someone has less money to spend because they've then they can't spend it on other things which means less business occurs.

I don't have a comment but started cracking up when I saw your Heenan/Andre pic.

 

[eljefino]

Americans are bad at haggling; we're conditioned to pay full price by our media overlords. The rest of the world is much better. Used stuff, person-to-person, is about the only place we haggle. That, and houses and new cars.

It's hard setting a price for used stuff but cheap/free to run ads these days, so I overprice by a little bit to see if there are any nibbles then back the price down after a week or two. I even tell interested buyers that I might be able to meet their lower price "after a week or two if it doesn't sell", giving them the fear, uncertainty, and doubt to counter-offer a higher price that day.

 

[69GTX]

Obviously, but you're missing my point. Atleast let the buyer spit out a number first

The buyer did exactly that when they posted the item at the listing price. There could be a line of buyers to buy it at that price.
The next price offered should come from the buyer. And the buyer should understand that if they offer less, they might not get
the item. Happened to me many times.