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Summary of Negotiation

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Summary of negotiation simulation

In this negotiation simulation, my role is the buyer.The final price the seller gave me is £7500, but my expected price is £7000. Even so I have not been able to reach my expected price but I did not beyond my highest limit £8000.Before the negotiation I have done some preparation work which is helpful for later negotiation. At first I checked the secondhand car market online to know more about the price of another sellers so that I can give a competitive price in the simulation. Then I have calculated the cost I have to pay, in order to buy this used car, and then deduct it in expected price,so I know at what price I buy it that I will not loss. However, what I did wrong may only focus on the price of the car , not the whole value and I have not read detailed information about the used car carefully, so in the latter negotiation I could not come up with any alternatives that can be deserved to ask for sellers.
Through negotiation simulation practice, I have summarized some negotiation skills as both buyers and sellers must acquire, in order to strive for the best profit of each side, this essay want to specifically describe how to successfully implement a negotiation from the two sides. Because in the negotiation simulation exercises my identity is a buyer, so at the beginning I want to illustrate the skills from the perspective of the buyer. First of all,before the negotiation the there are some important preparation work the buyers have to do. Firstly, as a buyer it is suggested to know more detailed information about the secondhand car the seller provide(BMW Z3 2.8 Roadster), including price, configurations, usage, appearance,etc.Then check relevant market quotation of secondhand cars both in France and Britain, after understanding the level of price for multiple sellers, comprehensively estimate the price. Secondly in order

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