7 tips for negotiating the best price

Now that the holidaze are over I thought I'd give ya a little help when shopping for something you want...Phiip Jay LeNoble, Ph.D. Publsiher
CBS Money Watch
December 21, 2011 7:28 AM
By Steve Tobak

(MoneyWatch) It's often said that successful people are frugal. Some say that wealthy people are cheap. I don't know if any of that is true, but I do know that it makes me feel really good to know I've negotiated a good deal.
No, I'm not a consumer advocate, but negotiating is in my DNA.

You see, I grew up relatively poor on the streets of Brooklyn where getting stuff for the best price was a way of life. Work ethic was a big deal in my family, and so was making sure you got a good deal when you plunked down your hard-earned cash.

Of course it doesn't hurt that I spent a good many years as a sales and marketing executive in the high-tech industry, either. Put it all together and I guess you can say I'm pretty adept at getting the most for my money without working too hard or, let's face it, coming off like a cheap, pushy jerk.

Here are 7 tips for negotiating the best price I've learned over the years:

It never hurts to ask. The easiest trick that most people don't think of is to simply ask, "Is this your best price" or "Is there anything you can do for me on the price?" Even if you're not into being pushy or negotiating, it never hurts to ask. If they can give you a break, they will. Worst case, they say no and you take it.

Comparison shop. If it's between two competitive models, use the best price to negotiate the other down. Example: I was researching notebook PCs and had it down to similar models from Dell and Sony. I configured it online with Dell, got the price, then called Sony on the phone. The similarly configured Sony was a couple of hundred dollars more, and when I told the salesperson the specifics, he gave me $100 off and threw in a three-year onsite warranty.

Walk away. Especially if it's a relatively big-ticket item like furniture or high-end electronics, you've got to be prepared to walk away from the salesperson with a line like, "Well, that's more than I'm willing to pay. Thanks." The salesperson really doesn't want you to leave, so if he can do anything on the price, he'll usually stop you. If he doesn't, it never hurts to walk away and test his resolve. You can always come back.

The no-hassle negotiation. Here's a negotiating technique that's easy and relatively hassle-free for those of you who hate negotiating. Just be honest. Tell the salesperson, "Look, I hate the whole negotiating thing so why don't you just give me your best price and let's be done with it." You may leave money on the table, but you will get something off the price that you wouldn't have gotten if you hadn't been honest up front.

Get a sale price even when there's no sale. Most places that have periodic sales will give you the sale price even when there's no sale going on. That works with online sites, as well. Usually they're just trying to clear inventory or make their quarter or quota, so as long as those criteria are still in effect, they'll give you the sale discount if they can.

Quantity discount. Most people think that online shopping means everything's discounted as low as it'll go. That's simply not true, especially if you're buying in quantity. You just have to be willing to pick up the phone and ask. If they can give you 5 to 10 percent off, they will. And sometimes they'll throw in free shipping or an upgrade.

Damaged goods. I don't know about you, but oftentimes I'm willing to suffer a small defect, as long as I get something in return. If you're buying something made of pottery, wood or metal, for example, and it has a scratch or something wrong with it and you still want it, don't be afraid to point it out to a salesperson. They'll usually discount it 10 percent or so