How to Haggle Prices

Haggling over a price can be a fun way to get the best deal on something you want. Follow some simple guidelines, and you can ease the strain on your wallet during your next shopping trip.

Instructions

Difficulty: Moderately challenging

Things You’ll Need:

• Calculators

1. Find a "haggle friendly" environment, such as a flea market, garage sale or craft fair. Major retailers and online commerce sites aren't the best places to try to negotiate prices.
2. Select the item you want and determine the maximum price you are willing to pay for it.
3. Start by offering 40 percent to 50 percent less than your maximum price.
4. Respond to counteroffers from the merchant by increasing your offer in small increments until you reach your maximum price.

Tips & Warnings

• The closer it gets to the time for the market or festival to close, the more merchants will be open to haggling.
• Make sure you know the item's fair market value before you start your negotiations, or you could wind up paying more than the item is actually worth.
• If the merchant won't come down to your maximum price, don't hesitate to walk away from the deal. Chances are, if you're anywhere in the ballpark of what he or she wants for the item, he or she won't let you - or your money - get away.
• Although major department stores and online commerce sites usually don't have the flexibility to negotiate prices, you may want to give haggling a try in those venues, especially if there is an obvious flaw in the product.
• Try not to let the excitement of haggling overpower your better judgment and lead you to exceed your maximum price.