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Over
the years I have come to believe that a stated reluctance to bid
against yourself is really code for the very understandable discomfort
you feel when the other side in a negotiation is not moving toward
you. And I have noted that there is a pervasive belief that bidding
against yourself, i.e. putting another proposal on the table
in the absence of a counter proposal, is a foolish thing to do.
And I regret this conventional wisdom very much because I have
seen all too many parties in a negotiation who stopped making
proposals suddenly scrambling to play catch-up ball or entering
a full-blown bidding war when a competing bidder showed up. The
frazzled reluctant bidder against himself then asks Why didnt
I move forward when I was the only bidder?
This
is exactly the point I would like to make; that it is wiser and
easier to bid against yourself than to bid against someone else!
In the Home Theater you will find harrowing tales of a buyer
who was reluctant to raise his offer by $2,500 to come to a conclusion
and who subsequently paid $30,000 more when a competing bidder
came on the scene, and of a seller who would not reduce his price
by $3,000 and who later accepted $70,000 less.
So
the real way to bid against yourself successfully is to be willing
to explore avenues of agreement even when your opposite number
doesnt seem to be willing to do so. Be thankful you are alone
and take every advantage of your fortunate position.
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