This is an example of non-declarative knowledge. Most sellers do this and have done so for decades. If you ask them why, they probably couldn’t tell you. They might just say “because it works”.
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Why do most sellers give you a poor first quotation? Two types of buyers: savvy and not. Savvy buyers negotiate, buy in bigger volume, are long-term, and can be less headache. Starting at a high price deters bad customers or accepts their business only at high margins.
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Also anchors the buyer at a high number out of the gate. If it comes down 30%, buyer feels good even if the first price was 50% higher than minimum margin.
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Agreed. Another reason why it works.
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Been on both sides of this. I call it the “FU price”
Thanks. Twitter will use this to make your timeline better. UndoUndo
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