Originally Posted by
noglider
For a bike with a chrome-moly frame, I generally say $300, but your market may not bear that price. In my eyes, $280 is a good price, and it appears to be in good condition.
My approach in situations like this: I say I'm interested. I go look. If it is everything it appeared to be in the craigslist ad, I drop the price and ask: "Would you accept $260?" Then I accept whatever the answer is. Usually, I get a yes without hesitation. There was one bike where the asking price was $75 and I offered $60. He came back with a counteroffer of $65, and I accepted immediately. If he had said $75 firm, I would have accepted that, too. But it never hurts to ask to lower the price.
This is a typical buying approach and one that sellers expect. That's why they always factor in the "spread" into the asking price, knowing full well that they will get offers from 10-20% below what they are asking.
The supreme law of negotiations is to never suggest a price first. The first one to suggest a price loses the negotiation. You could offer $280 on a $300 bike and get the offer accepted and walk away thinking you got a good deal when the guy (or gal) may have been willing to sell for $150!
Always put the asking price to the test. "How did you come up with this price?"
You'll find most sellers pull the price out of their butts.
I like to draw a price from the seller by asking what their bottom line is. That is the best starting point. Quite often, you can get the price below their bottom line with some rational discussion.
Do your homework and don't be afraid to haggle, that's half the fun of buying something.
If a buyer states "firm" in his ad, then that means he(or she) is willing to outbid you, the buyer during the negotiation process. In effect, they are buying their own bike. I generally stay away from these people because they tend to be arrogant and unreasonable.