October 2020
Canton First Monday Trade Days is a mammoth affair. There are thousands of vendors selling everything from fine art to lengths of old, rusty chain. One person’s garbage is another’s gem and the only difference between the two is usually just the “agreed upon price”.
Quite often that the sticker price is not necessarily the real price . . . the price that you could pay.
The first thing to understand is that you must ask for a lower price. No seller (OK, maybe there’s one or two, but they’ll be extremely rare) is going to just voluntarily offer to sell you the same item for say $5 less than the price you would have originally paid.
You: “$20 sounds like a reasonable offer for the vintage t-shirt. I’ll take it.”
Seller: “Seriously? I paid like $1 for this old thing at an estate sale. You really shouldn’t pay me more than $15.”
Yeah, that’ll never happen. They have costs and expenses involved in getting that t-shirt from somewhere in Arkansas to Canton, TX. A “reasonable offer” amounts to simply the price that a buyer and seller have agreed to at that point in time and the variables can include things as unquantifiable as the general overall demeanor of the seemingly unrelated guy in the stall next door when you walk up. Bargaining is an art. Most of us have been raised on commercial retail stores where the price you see is the price you pay. It’s not second nature to ask for a lower price. Most of us really dislike rejection and there’s not an easy way to tell if a vendor will accept a lower price other than simply asking. One really has nothing to lose by inquiring if a lower offer would be accepted.
If you are so inclined, and don’t mind being told 'no' a few times, here are some quick tips on how to successfully negotiate a price, relative to the highest price you were originally willing to pay, that is more in your favor.
Be Friendly
Kindness goes a long way. So does a smile. Understand that vendors at Canton Trade Days are there to end their weekend in the black. And for a good number, this is their business and livelihood. Keep that in mind when bargaining, but you don’t have to negotiate from guilt. Have fun and try to make sure that you both come out of the deal a winner.
Play the Long Game
Go in with your preferred lowest offer price, but don’t cave too soon when they decline. Slow whittling can take a while and may involve some creative story crafting on both your and their parts. Typically, if the seller is receptive to negotiation, the longer you can keep them interested, the better off you’ll make out in the end.
Have a Poker Face
Approach relaxed and with the “There’s nothing to see here” attitude. Don’t let her know that the little refrigerator magnet that she has priced at $5 would absolutely complete your set. “This is a cute little magnet. Would you accept $2?” But, don’t look TOO nonchalant otherwise you’ll give your ruse away.
Know When to Walk Away
It’s supposed to be a non-contact sport and the fun can’t last forever. So if if wallet is about to take a serious financial hit, walk away. Realize what you are seriously willing to pay. Budgets and desires can occasionally get out of balance. If the lowest price is much higher than you are comfortable paying, say thanks and move on.
Increase Your Offer
“Wait what? Wasn’t my goal to get them to come down to my price?” Well, yes, but if the negotiation is going nowhere, you’re going to have to throw something else in to entice them. When you were looking around, it’s sure that you found something else that might be useful. Use that as a bargaining chip.
You: “$2.25 for the magnet.”
Her: “$4.50. ” (She’s finally budged after several minutes of sticking to $5 and you raising your offer by $0.01. You really haven’t perfected the art yet. That’s OK.)
You: “I really can’t see paying more than $2.50”
Her: “It’s in mint condition. It belonged to my grandmother. $4.25” (Classic vendor strategy of tugging at your heart strings. Stay strong.)
You: “Tell you what. Throw in the shot glass over there (you noted the pink heart on it that was so cute and sticker price of $3 several minutes before) and I’ll give you $3.75.”
Her: “Hmmmm….Ok, sold.”
Remember, practice, a little patience, and a since of humor are the keys to really develop this skill. For a true free-market auction kind of experience head to the fields at Canton First Monday Trade Days. It’s a little less structured and free-wheeling than some of the pavilions and other buildings.
For tips and stories about Canton First Monday Trade Days, be sure to check the Canton Shopping Guide blog often. Are you a vendor with unique art or that sells some really interesting finds and would like to be featured? Let us know. We love to feature interesting and unique vendors.
