The art of bartering could help Kiwis get the best bang for their buck

June 18, 2020

The price that’s being asked isn’t always the price you have to pay.

With the threat of an economic recession looming, every dollar earned is becoming even more precious for New Zealanders. 

So when increasingly every cent counts, why not make it stretch as far as you can with the age old tool of negotiation?

While a price in New Zealand may appear as though it is fixed, it's really more like an advertisement for what they would like you to pay for it. 

Almost anything that you buy can be treated as though it is up for negotiation, whether it is big or small. 

A business' price is their offer and in order to make a financial transaction, you have to accept their offer to have a contract for the goods. 

Nevertheless, as a culture Kiwis tend to just pay up as opposed to contesting a price even if it means they are missing out on a deal. 

Negotiation expert Mark Simpson's advice for budding barterers is to do your research to help get the best bang for your buck. 

"Know what the market rate is for what you want to buy. Have a look on Price Spy, look on the internet and then determine what the best deal is." 

Often however, it's simply just a case of asking for a better offer on the goods. 

"Ask them what they might be able to do. Or if they can't do it ask them if there is someone with a bit more authority who can give you the deal you want," he says. 

Mr Simpson says it's best to focus on the overall value of the deal as opposed to just how much you can save. 

"Focus on what you get for your money rather than the amount of money yourself. So, if you are in with a electronics retailer trying to buy a TV, ask them if we are to buy a sound bar would they throw the cables in." 

Ultimately, if it's a deal that you really want and the business isn't willing to cave, his advice is to walk away if the deal is credible. 

While many would consider the act of bartering to be rude, especially at a time when businesses need support it's important to remember that businesses aren't going to sell people something if it isn't still making them a profit. 

"It would be a pretty foolish move for a business to just give things away. They're not going to barter away their future but they might be prepared to have 85 per cent of something rather than 100 per cent of nothing,' says Mr Simpson. 

According to Mr Simpson, the most success comes to those who are assertive but also friendly and kind in the way they barter. 

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