Experts’ words: The art of bidding and bidding on jadeite

Due to its own characteristics, the price of jade is not very transparent and is very flexible, which makes many people feel very difficult to negotiate the price with buyers when purchasing jade. So how are transactions conducted in the jade market ? Let’s hear the experiences and opinions of experts today.

Golden Words - No Regrets for What You Speak

We often say that jade is a relatively traditional industry. One reason for this is its trading rules. Although it is a verbal transaction, the implicit rule of "words spoken are spoken with no regrets" must be followed. That is , when the seller makes an offer, he cannot regret it even if the price is wrong; when the buyer makes an offer, if the seller agrees to sell it, the transaction must be completed and the buyer cannot regret it.

In short, both parties are responsible for their bids/offers, which, once exported, constitute the contractual terms of the transaction.

However, when the buyer turns around and walks out the door and leaves the transaction venue, the verbal agreement becomes invalid. The buyer and seller will bid and offer prices for the same goods again in the future, so if you cannot reach an agreement in one go, you can wait for another opportunity.

Seller: Make more money

Generally speaking, the initial price is often inflated as a test, which is due to the interests. It would be even better if you happen to meet a buyer who is not knowledgeable or willing to pay a high price. During the trial process, when the buyer's bid has reached the owner's psychological price, experienced sellers can often "ask for a little more".

For example, when a certain price is reached, the seller will usually say, “I need to ask the boss (shareholder) for his opinion,” and then after the phone call he will say that the boss said the price has not yet been reached and that a little more needs to be added, and then I will ask the “boss to make a move.” At this time, the buyer only needs to increase the price slightly or even not increase the price at all to usually close the deal.

Finally, don’t forget to “ask for a little more”, which is the art of transaction for sellers. Any more you can ask for is profit.

Buyer: “Calm down a bit”

Transactions are a game between buyers and sellers, and this is true in every industry. When the buyer is very interested in a product, he or she will tend to keep raising the price. This is because the seller sees that the buyer is determined to win, so he or she will not give in easily and will test the buyer's bottom line step by step.

At times like this, calmness is the best medicine. Usually when the price increases to the level you expected, you should listen to the opinions of your expert friends, calm down, stop raising the price, and leave. At this time, the seller may agree to the deal. If he still doesn't agree, that's fine. You can negotiate again later. In transaction negotiations, a master is one who puts pressure on the other party at the right time and knows when to leave.

Common bidding methods for buyers

Depending on the buyer's personality and level of control over price, the bidding method varies and can be roughly divided into three categories.

1. Increase the price gradually and multiple times.

This fear of bidding too high leads to the method of gradually increasing the price multiple times. This seems to protect oneself from raising the price, but in fact, if the initial bid is too low, the seller will think that you do not know the goods. If you increase the price multiple times, the seller will think that as long as you do not agree to reduce the price or promise to make a deal, the seller will continue to increase the price.

In the jade industry, buyers use calculators to bargain

At the same time, because you don’t know the goods, he won’t show you the good goods easily. Even if he does, you don’t understand the price, and he is even too lazy to negotiate the price with you. For this bidding method, in addition to the low transaction efficiency, the seller will treat you as an amateur and you may not be able to buy the goods at a suitable price.

2. Increase the price rapidly, and the price will be in place in one or two bites.

This approach is for people with an impatient temper. The first bid is high, and the increase is large, which is often easily inflated. Sometimes, experienced people also make this mistake. Due to overconfidence, they offer a price all at once. However, the price of goods is complex, and the source of the goods, their costs, and the psychological selling price of the owner are also complex and diverse. Perhaps the deal can be made without adding too much price increase, but being too impulsive will result in a high price.

This type of buyer is the most popular with cargo owners (sellers). They are straightforward, knowledgeable, and have a common language. However, being too impatient as a buyer can lead to mistakes.

3. It is between the two, with price increases and pauses. The bid is more appropriate, but the number of price increases is not large.

Bidding appropriately, increasing the price by a certain amount, and pausing calmly and at the right time will not only give the seller confidence, but also protect yourself and avoid raising the price too much and going in at a high price. At the same time, when the price increase is within a certain range, do not increase the price multiple times easily, which will put pressure on the seller and force him to choose between selling and not selling!

In this dilemma between success and failure, the possibility of success is greater. Even if it fails, it doesn't matter, there will be opportunities in the future. Jade has a slow turnover and is not so easy to be bought by others.

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