.bodytext {float: left; } .floatimg-left-hort { float:left; margin-top:10px; margin-right: 10px; width:300px; clear:left;} .floatimg-left-caption-hort { float:left; margin-bottom:10px; width:300px; margin-right:10px; clear:left;} .floatimg-left-vert { float:left; margin-top:10px; margin-right:15px; width:200px;} .floatimg-left-caption-vert { float:left; margin-right:10px; margin-bottom:10px; font-size: 10px; width:200px;} .floatimg-right-hort { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 300px;} .floatimg-right-caption-hort { float:left; margin-right:10px; margin-bottom:10px; width: 300px; font-size: 10px; } .floatimg-right-vert { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 200px;} .floatimg-right-caption-vert { float:left; margin-right:10px; margin-bottom:10px; width: 200px; font-size: 10px; } .floatimgright-sidebar { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 200px; border-top-style: double; border-top-color: black; border-bottom-style: double; border-bottom-color: black;} .floatimgright-sidebar p { line-height: 115%; text-indent: 10px; } .floatimgright-sidebar h4 { font-variant:small-caps; } .pullquote { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 150px; background: url(http://www.dmbusinessdaily.com/DAILY/editorial/extras/closequote.gif) no-repeat bottom right !important ; line-height: 150%; font-size: 125%; border-top: 1px solid; border-bottom: 1px solid;} .floatvidleft { float:left; margin-bottom:10px; width:325px; margin-right:10px; clear:left;} .floatvidright { float:right; margin-bottom:10px; width:325px; margin-right:10px; clear:left;} I went to The National. I collect sports memorabilia, and The National Sports Collectors Convention is the place where everyone who is a serious collector or dealer goes. People fly in from all over the world to buy and sell every kind of sports collectible imaginable. And 50 sports celebrities are there signing autographs (for a fee).

I got there early because I’m not just a collector; I’m a fanatic. I wanted to get the jump on all the other collectors who might seek to purchase what I want to purchase – proving that fear of loss is greater than desire to gain.

Every form of ball, bat, glove, helmet, card, jersey and autograph is available, dating back to the turn of the century. Prices range from 1 cent to $100,000.

When I go to a dealer’s booth, I look very carefully at the items for sale. If I like one, I ask the price – even if it’s marked on the item.

Once I ask this question, every element of salesmanship is revealed. I’ve basically told the seller that I want to buy what he’s offering. How much more of a signal can I throw out? More than 90 percent of the sellers will say something like, “I’m asking $150 for it, but I’ll give it to you for $100.”

Now maybe this is a ploy on the part of the seller to make me feel that I’m getting a bargain, but the bottom line is he just cut his price by one-third as an incentive for me to buy.

But my real incentive was I wanted it.

And I was willing to pay $150 for it.

A small percentage of the dealers will say, “I’m asking $150.” And I’ll say, “Is that your best price?” Or I’ll say, “Is that your cash price?” And then the bargaining begins.

But there are a small handful of dealers who will look me straight in the eye and tell me that $150 is their firm price. And you know what? I pay it. The same guy who reduced his price by a third could have had more money if he had just changed his language, if he had just changed his manner, if he had more self-confidence or belief in what he was offering, or if he hadn’t developed the habit over the years of having to haggle over the price with each customer.

The bottom line in sports memorabilia is that it’s a supply/demand marketplace driven by desire, perceived value, actual value and pride of ownership.

By now you’re wondering what my sports memorabilia buying has to do with your selling structure or strategy. And the answer is: The price process of the memorabilia dealer is no different than yours. Your customers ask for discounts, and the first thing you do is try to figure out how low you can go, still making somewhat of a profit, and complete the deal.

If you were able to stand your ground by proving your value, and having your customer perceive that the value was there, not only would you get your price, but you would also have the beginning of a mutually respectful relationship that will end with customer loyalty rather than customer satisfaction.

Oftentimes, when I ask a dealer, “How much is this?” he begins with a story rather than a price. A story of what the piece is, where it came from, why it’s unique, what gives it value, and why it’s worth owning. He’s proving the worth or the value by telling a story.

CHALLENGE: What stories are you telling? How deep is the engagement with your customer?

I’m a loyal customer to sports memorabilia. But the bottom line is if any dealer put up a banner behind his booth that said, “Our prices are fair and our prices are firm,” they’d make a heck of a lot more money at the end of a show.

I have a few more points to share about the negotiation process. Go to www.gitomer.com, register if you’re a first-time user, and enter the words PRICE POINTS in the GitBit box.

Jeffrey Gitomer can be reached by phone at (704) 333-1112 or by e-mail at salesman@gitomer.com. © 2007 Jeffrey H. Gitomer