Most people think they know how to negotiate .. very few do. It's hard. It's human nature, body language, patience, control.
But most important may be the resolve to say no and walk away.
"But I have all this time and money invested ..". That's exactly what I would be thinking if I were the seller.
- Have the terms pre-defined, i.e., cash .. cashier's check, etc.
- Get a look at a Rappaport Report for the diamond your negotiating for. True wholesale will be about 35-40% of Rappaport, depending on the popularity of the diamond
- Go to the meeting having absolutely determined the top figure that you will pay for the diamond.
- Start low, but don't offer a ridiculously low price. Consider 20 % lower than you are willing to pay.
- Keep the conversation low key, don't insult the person or the diamond.
Start counting out $100 bills. Pause every so often and make eye contact with the seller. Count out a few more banknotes. Anytime the seller picks up the cash, the deal is done.
If the seller hasn't taken the cash when you place the last bill on the stack, make eye contact again and this time with a , "Well, too bad," expression.
Shrug.
Reach for the stack of money.
If the seller is going to crack, that's when they will do it. Cash has a way of undermining the resolve of most of us.
If you have to start again, you have learned some valuable lessons.
If you have just bought yourself a diamond, it's time to start shopping for a cutter.
Re cutting or polishing you estate diamond. Re cutting estate diamonds.
Okay, I know there are folks out there who are more skilled at this than I am. Share your tips. I'll include them here with attributes.
