Not sure if you do, but I love watching the hit television show, “Pawn Stars”. If you are unfamiliar with the series, it features an owner of a Pawn Shop on the strip in Las Vegas. The main character of the show is a gentleman named Rick Harrison along with his son and a few employees. The premise of the show is that they get people coming into their shop mainly to sell items of value, memorabilia, and in some cases historic significance. A variety of things have made their way into the production from a Grammy Award to a New England Patriots Super Bowl ring. There is never a dull moment on the show. Before someone enters the store, the producers interview them and the seller usually talks a little about the item, what they expect to get for it, and their walk-away price. I chuckle when I hear them say things like. “I won’t take less than $1,000.” Or something to that effect.
In watching the show for some time now, I realized just how bad people are at negotiations. Despite their plans, the sellers go into the process with most capitulating quickly to Rick and his staff. Many seem to leave lots on the table by not having an end game or even knowing what they could obtain on the open market for their items. It seems like the lure of the TV lights takes over and all common sense leaves their bodies. Being in sales, we are called upon to negotiate frequently, so what does that mean for us, and do we act like Rick’s customers and just give it away.
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