| I learned this technique from an ancient Umatic (3/4 | | | | cameras/recorders, two video tape recorders and a |
| inch) video cassette. It was produced to assist car | | | | controller for editing. They were a few years old, but in |
| dealerships in getting the most money from trade-in | | | | tip top condition. They were being offered for about |
| sales. I don't know if car dealerships still teach this, but | | | | ten percent of their original price. This was a super |
| I've never had it fail me, yet.Here is how it works in the | | | | deal at $21,000. The ad also mentioned O.B.O (or best |
| video. Someone wants a thousand dollars for their | | | | offer). I knew I could deal with this. I made |
| trade-in. It's worth a thousand dollars, but you don't | | | | arrangements to fly from Washington State to Texas. |
| want to pay them a thousand dollars. You only want | | | | The producer picked me up at the airport and took me |
| to pay them six hundred dollars, which they have | | | | to his studio and showed me the equipment. We then |
| already turned down. You let them see you think about | | | | went to a restaurant for lunch on the way back to the |
| it and then you pull your money out of your pocket. | | | | airport. The equipment was in great condition. It was a |
| Into their hand, while counting, you put a one hundred | | | | super deal. I asked him for his best price. He gave it to |
| dollar bill, then another, then another, then another . . . | | | | me: $16,000. I told him that was a great price, a fair |
| you hesitate . . . you slowly give them one more | | | | price, and worth every penny, and I was sure that my |
| hundred dollar bill . . . and then add one more hundred | | | | partners would agree to that when I explained about |
| dollar bill, and stop. You think about it and then say | | | | the quality of the machines when I got back. I then |
| something like, "No, I'm sorry I know it's worth more | | | | mentioned that I had a money order with me for a |
| than that, but that's all I can afford to pay." You have | | | | price that I was authorized to grant right then, but it |
| placed them in a predicament. They have six hundred | | | | was much less than the value of the video equipment. I |
| dollars in hand. Ready money. Hard cash. You reach | | | | pushed it over to him with an apology. It was four |
| out to take it back. What do you think they do? No | | | | thousand less than his best price. The money order |
| one ever, ever, ever wants to give back money. They | | | | stayed in Houston. The video equipment went to |
| pull it towards themselves. In that one little action | | | | Washington.The reason this technique works is |
| you've made the deal. You just bought their trade-in | | | | because people know how hard it is to find someone |
| for six hundred dollars and gave yourself a 40% | | | | who wants to buy what they have, and once they |
| discount.The first time I used this technique was to buy | | | | have cash in hand, or a money order, they just can't |
| a gold necklace for my wife. I slowly played out the | | | | turn it away. It's easier to complete the deal then it is to |
| money and bought the necklace for my price. I've | | | | turn it down . . . even if it means making a little |
| done this for over twenty years from antique stores | | | | less.Author Don Doman: Don is a published author of |
| and car lots to negotiating tables. The technique works | | | | books for small business, corporate video producer, |
| well with variations and for all kinds of | | | | and owner of Ideas and Training ( which provides |
| transactions.Years ago, I needed to update my video | | | | business training products. Don also owns and Human |
| production studio. I saw an ad in a professional video | | | | Resources Radio ( which provides business training |
| magazine for a complete television studio: two | | | | programs and previews 24-hours a day. |