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  1. #21
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    Re: Walk in an AD with cash ready

    Last time I bought a watch I was asked if I wanted to pay cash and my yes prompted them to deduct 10% from the original price.

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  2. #22
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    Re: Walk in an AD with cash ready

    When I went to buy a used car, I had the cash in the glove box (If I was especially worried, I could have hidden it in the trunk). When it came time to make the deal, I went to the car and got the cash. No reason to walk around with a big lump of cash until you need it.

    Chad

  3. #23
    Moderator Public Forum John MS's Avatar
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    Re: Walk in an AD with cash ready

    Quote Originally Posted by mailbolt View Post
    Hello!

    I've heard a lot of people (around the web) that advocate walking in an AD with cash when you are decided to buy something, and are just looking to negotiate the price.

    The rationale is that staff will prefer cash as it means less credit card costs for them, and thus they will be more likely to give you a better cut.

    Sounds reasonable.

    But do you really want to walk around town with that kind of money in your pockets? Where I live it is not legal to have over a certain amount of cash on you.

    Any comments? Thanks.
    I haven't heard of any people on this website who walk around with cash in pocket in order to negotiate a better deal. I'm perfectly happy paying with a credit card because I then have the bank on my side in the event of a dispute. And it is a whole lot easier to carry around than a wad of hundred dollar bills. If someone offers a discount for cash then a personal check will work.

    BTW, staff in a watch store will be ambivalent toward accepting cash vs a credit card. The owner might be interested.
    Last edited by John MS; July 20th, 2015 at 21:45.

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  5. #24
    Member Synequano's Avatar
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    Re: Walk in an AD with cash ready

    In this part of the world,most of the high amount transaction are often carried out in cash,and fully packed $100k is still manageable in a medium sized backpack just as an example...

  6. #25
    Member cedargrove's Avatar
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    Re: Walk in an AD with cash ready

    For me the most important aspect of negotiation is conviction. The seller needs to be convinced that you will buy immediately if you get your price. Furthermore they need to also be convinced that you will walk away if you don’t get your price.

    I would think that a wad of cash would certainly help convince the seller that you are prepared to buy, which gets you half way there.

    Personally I’d have no problem dealing in cash, but have never required it in order to convince the seller.


    As for extra discounts, I once got a 24% discount if I paid cash, or 23% if I paid by credit card. I still paid by credit card because it was much more convenient at the time, although it cost me $100.
    Last edited by cedargrove; July 20th, 2015 at 21:59.
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  7. #26
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    Re: Walk in an AD with cash ready

    Quote Originally Posted by mailbolt View Post
    Nice.

    I forgot to mention, but I also think that having the cash ready and actually showing that to the AD staff will help reassure them in the fact that you are serious about buying, (i.e. that you have been preparing to make the deal). Showing the bills has a "flashy" effect.

    Which is why I like your idea of having a bank certified check, that is ready, with the amount you are ready to spend on it. Certainly not the same "flashy" effect of showing them the bills, but still.
    In theory? If the AD declines, I guess there's no problem in getting the bank to cancel the check free of charge or do you just keep going round to AD's till one bites, hopefully doesn't take a few years . . .
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  8. #27
    Member Perseus's Avatar
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    Re: Walk in an AD with cash ready

    When I was looking to buy a Monaco I went to two or three local places and the prices stunk. I even offered to pay in cash and they wouldn't budge. I believe credit card companies charge vendors about 3%. I ended up buying out of state from a forum sponsor.


  9. #28
    Member Luskar's Avatar
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    Re: Walk in an AD with cash ready

    Why not just use a debit/bank card? Same as cash, not the "dangers" of carrying big amounts of bills.
    Last edited by Luskar; July 20th, 2015 at 22:09.

  10. #29
    Member dbakiva's Avatar
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    Re: Walk in an AD with cash ready

    Quote Originally Posted by cedargrove View Post
    For me the most important aspect of negotiation is conviction. The seller needs to be convinced that you will buy immediately if you get your price. Furthermore they need to also be convinced that you will walk away if you don’t get your price.
    This is absolutely key. In order to negotiate successfully you have to be willing and able to do either of two things:

    Buy it.
    Don't buy it.

    As for method of payment: I've been offered additional discount for cash, but my check would be considered same-as.
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  11. #30
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    Re: Walk in an AD with cash ready

    In Spain vendors must report cash payments above 2500euros now. But my AD sells watches to chinese tourist, mostly in cash. My wife`s BFF paid more than 20k for a Patek in cash....got only 9% off.

    Paid with cc in HongKong for a Bovet and paid cash for my Yachtmaster ,all the others with cc or paypal.

    It all depends on the AD. But my two give more discount when paid in cash.
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