One of the many things I taught my children was that whenever they were given a price for any substantial purchase, they should always say ‘HOW MUCH!’ and sound and look really horrified at the price.
In most cases, the seller comes back with a much-reduced price.
Just try it and see for yourself. It works almost every time.
A few weeks ago my wife and I decided to have some major work done at our home. We contacted five different companies, all of whom quoted a very similar and very high price for the work. It was more than we wanted to pay, even after using the ‘How Much!’ strategy in every case and getting a price reduction.
There was one more local company we could approach, notoriously expensive but with a great reputation, and we decided to get a quote from them anyway, if only to justify that the other five quotes were in fact reasonable.
The company rep arrived the following day, assessed the work needed, and gave us a price which was less than half the other five companies quotes.
I said ‘HOW MUCH!’ NOT in a horrified tone of voice, but in sheer SURPRISE at how much less expensive it was.
Never the less, the rep still immediately reduced the price by another £1000, and of course, we accepted.
The Moral: Never reduce your price! And certainly not right away. Instead emphasise and sell the value of your product or service.