First thing I do is decide whether or not I want the item. Then, I decide how much it is worth to me and what I am willing to pay for it. Then, I ask what the seller is asking for the item and try to get a feeling of what the seller is trying to accomplish. If he or she has a price that is not negotiable, if I want it for the price they are asking, I buy it. If I think the price is too high, I simply tell them they are asking more than it is worth to me and start to leave. I have never left without the person asking me to make an offer. Even if they won't come down any, they want to see what I think their item is worth so they can use it in their next attempt to sell. Unless the person shows they want to come down on price, I do not make an offer or tell them what I think it is worth.
If the item is not worth what they are asking to me, and I feel they will negotiate, I tell them what I am willing to give for it, but the offer is not any good after I drive away. I don't want an offer dangling that they can use as a base to sell to someone else.
Some examples: Looked at a set of cows and calves. The man had several calls and I was first there. I looked at them and we talked about them and I finally asked him what he had to have for them. He told me 24,000 and he had talked to a salesbarn friend of his and either he gets that or he takes them to the sales barn. I told him I thought they were worth it and I would pay that for them. So, we had a deal.
Another guy had set of cows and a buddy needed some cows, so I took him and we got there before the owner did and we looked at them and I told my buddy if he liked them, he could have as many as he wanted, but I was going to buy the whole bunch before we left. The owner got there, we talked and I asked him what he had to have for them. He told me and I told him I would do that for the whole bunch if he would deliver them, it was 80 miles and he said we have a deal. My buddy and his son ended up picking 25 out of the 32 cows for their replacements, so it worked out real well for all of us.
Another group, I found out a friend had to sell his cows because of a divorce. There were 3 people that I knew who were coming that afternoon to look at the cattle, all three would lowball, then come up, but all 3 had the money to buy the cattle and would, rather than let someone else have them. I had a friend who really wanted 20 outstanding, young pairs, and was willing to pay top dollar for them. So, I called the owner asking to look at them and he said go ahead if you can beat the others. I called my friend and told him get there as quickly as he can and he did and we looked at the cattle and figured each one of them as to what they were worth, added them up and came up with 72,000 for the herd. He was willing to pay for the 17 young pairs and I was willing to take all the older cows and the bulls for the money we figured them to be worth. I called the owner at work and he had not decided what the price them at. He asked me what they were worth and he would compare it to what the other guys offered. Then he said he hoped to get somewhere between 70-75 thousand for them but was afraid he couldn't get it. I thought we would only get one bid, so if I could not buy them before the other guys got there, I would lose them. So, I told him I thought they were worth 72 thousand but it takes money to haul them to the sale and it takes commission and costs to sell them and it would end up costing him around 4 thousand to get them to market and get them sold. I told him I didn't have time to try to fight with the other buyers over prices. I told him I would give him 72 thousand if he would let me have the pasture until Jan. 1, which was 8 more months. He said, "you will do that right now?" I said yes, so he said we have a deal.
A friend had a herd that was not fed well enough. There were several older cows. He wanted to sell but wanted too much money. He asked me what they were worth and I told him every penny I thought they were worth and even added a few dollars because I did not want him to let someone talk him into a cheap deal to get his cattle. He wanted more than what I told him, so he had several people come and look at them. The best offer he got was 200 dollars per head less than I offered, so he came and found me and asked if I would pay him what I said they were worth. I said yes and we had a deal. I fed them great, creeped the calves and they soon looked like a fine, polished set of cattle. I was really proud of them.
Big mistake. Another neighbor had not fed his cattle well and they looked terrible and there was some question of ages. He tried to sell that herd to everyone he saw. That was the most looked at herd of cattle I ever was around. He wanted 51,500 and he had an offer of 48,500 from a sales barn. I looked at them, figured generously what they were worth and I told him I could not beat the 48,500. Several other people looked, no one offered more and he never came down a penny. That was in Feb. 3 cows died, he sold just over 30,000 worth of calves off of them, and I paid 62,000 for what was left in October and I was glad to get them. So, he ended up getting over 92,000 for the cattle that he couldn't get 51,500 for 8 months earlier. He was smarter than all of us put together.
Then there are other times that a person describes their cattle and I go look at them and they have lied, so I ask to see the cattle they described when they say these are them, I just shake my head and drive away.
I sell my cattle at the sales barn. If I have a friend who needs cattle and I find what he needs, I pick them up for them and show them what they cost and unless I have had to put extra money or time in them, I let them have them for what I paid because these people also help me in other ways. I do not try to lowball, I try to pay fair prices, and every time there are cattle around here for sale, I get a call because people know I will be honest and fair with them. Even when I don't make money, the volume at the sales barn helps all my other cattle sell better. So, I never advertise and sell cattle. So, I can't tell you what kind of a seller, I would be. Just what kind of buyer I am.
I am a sad example of humanity. I like buying cars.
