Saturday, 23 October 2010
MONEY SAVING TECHNIQUE I’d like to share
I’d like to share a money saving technique which I reckon will save a lot of us literally thousands of pounds over the years on a variety of pre-owned products, like cars, appliances, furnitures, jewellery to name but a few.
What you’ll need is PATIENCE. You will see why in a moment
This hit me when a friend tries to sell a car through a local newspaper. When it was advertise, he’s really confident and ‘bullish’ about the price, saying he is not going to accept any penny less. But as time went on and no potential buyer came forward, his resolve disappeared and reduces this target by £1000. A month later, he sold it way way below the price he really wanted.
That got me thinking. If he felt that way, so must everyone else with something to sell. Confident at first, but becoming increasingly ‘flexible’. Can you see the technique here?
So, here’s you going to do. When you see something you’re interested in, advertised by a private seller, make a note of the date; sit on it for three weeks or a month. I’ve found that very few things sell quickly, so chances are, still available after a month. I find that the longer the thing has been for sale, the bigger discount you can get.
You can use this technique with trade retailers of second goods, like car dealers, antique dealers, and jewellers. Make it a business to find out how long they have had the item in their stock. This will give you a good indication of how low the price might go. You can find this information observing the retailers over a period of time, asking to see the original price, or simply asking. Most retailers will give you the information, it only because they’d look pretty evasive it they didn’t.