Piobaire
Not left of center?
- Joined
- Dec 5, 2006
- Messages
- 81,860
- Reaction score
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Pio - re: the comic book story - how does such a huge disparity in values occur? If you've already done your research and set your values, how does it come to pass that someone who does this for a living and is reputedly knowledgeable would be so far away from your estimates? Either you worked with two grossly different sets of value bases (rendering one invalid) or one of you didn't do quite enough homework. Either way, there was an information disparity between you and the dealer (which, truth be told is the case in every negotiation), and that leads me to wonder what he would really have been willing to pay, and why. After it was said and done, did you find out why he was willing to pay so much?
Never found out, and never asked. Figured he'd be pissed at me. He either made a mistake, or had a buyer I didn't know about, willing to pay even more. And really, is not a large part of most negotiations trying to take advantage of "information disparity" (usually between markets)? In fact, there's even a word for it. Arbitrage. And the only way to get these 1:1, informational arbitrage opportunities, are not to name your number first. You'll never get the other party to expose their initial position. Also, say it was me that had the wrong information. If I had given my number first, think of how much cash I would have left on the table!