Wednesday, December 9, 2009

Negotiate the Best Price for a Mattress

This Christmas I am getting a mattress from my parents for Christmas. I know, I'm so grown up. I'm actually getting bunk beds...in the shape of race cars...with GI Joe sheets. I can't wait! Well, don't tell the mattress salesman that. Don't tell him that I know what type of mattress that I want and that I want it very badly. I went into the store with my BATNA which was to keep the mattress that I currently owned and not buying a new one. My reservation price was my race car bunk bed which I valued at no more than $300, the GI Joe sheets would just be icing on the cake. I started off by anchoring with $200 as what I was willing to pay for the bunk beds that were sold at full price at $500. I had seen some race car bunk beds in the newspaper for $300 so I knew this was a realistic price. He countered with $900. I then began talking to him, making plenty of references to $200 to create some cognitive dissonance in him. He started talking about a $400 price. We finally comprised on a $275 which was below my reservation price! After the sale I found out that the lowest the bed would sell for directly from the manufacturer was $250. We both got a $25 value out of the transaction. What an equitable split!

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