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SOWPub Business Forum Seeds of Wisdom Forum |
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Great approach! Here's how to also "turn the tables" when you want to buy...
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I wish I knew of your system when I last sold a car (which was quite a long time ago, I have a tendency to drive my cars till they give up the ghost...!). I'm sure it must work better than the "look at the car at different times" approach. One way to look at it is the "supply and demand" way... When, you have a lot of people looking at the car at the same time, you create a situation where there is a lot of "demand" (lots of buyers), but very little "supply" (there's just one car)! This kind of situation (high demand, low supply), according to the economists, drives up the price... As usual, it's quite a brilliant approach! By the way, that's also why, if you want to buy something, it can make sense to run a "wanted" ad. Why is that? It's because, when you run a "wanted" ad, you turn the tables. When the sellers are coming to you, you have a large "supply" (lots of sellers), and little demand (just one buyer). In this situation, according to "supply and demand," you can get a lower price, since they're competing with each other to sell to you! Makes sense, especially if you're going to buy stuff for resale... If you ever watch any of those "pawn shop" reality TV shows (I sometimes watch "Hardcore Pawn"), you can see it in action... They can sometimes buy stuff for pennies on the dollar. It works that way partly because people are coming to them - they create a situation with lots of sellers, and just one buyer. Thanks Don, for sharing another profitable and educational story from the "field of battle!" Knowing about this will, without a doubt, help to skyrocket your profits! Best wishes, Dien |
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