Negotiation (Auction Hunter)

Auction Hunter

Episode-105: the real thing

 (Interaction with a dealer-selling a coke machine)

 

1.  What were they trying to sell to who?

Ton and Ellen found the 1st upright Coke vending machine. It was the real coke vending machine. It was good as new and well painted.

They took it to a person named Dennis who is an Antique Expert. He has a lot of experience with coke machines. So, he is a good dealer who would understand the value of the object and may also be interested in it.

.            2.  What were the opening bids for both side?

The opening bid for the buyer was $2000 and the opening bid for the seller was $4800. But the buyer was not aiming for that high, so the seller brought it a little lower for making a good deal. Their next bid was $2100(from the buyer) and $2600(from the seller). Then the sellers convinced the buyer with $2500.

      3.  Name three things you off of observing the body language during negotiation.

a) While they were negotiating, they tried to establish their point in a very gentle way and listened to the buyer attentively while he was talking.

b) They reacted by listening to the bids from the buyer.

c) They congratulated the buyer in the end and shook hands.

  

4.  Identify any negotiation strategy.

The strategy of the seller in this deal was some sweet and convincing conversation and they also started with high price with the intention of bringing it down. This way the buyer felt more comfortable with the deal.

  5.  In your opinion, who got the best out of this negotiation?

In my opinion I think the sellers had the best out of this negotiation. Because they sold the coke machine by a good price and they also earned they buyer’s satisfaction. They earned more than triple amount of money than they bought the storage for. So, they had a very good profit.