How to Bargain and Get the Best Prices

Ever wondered why you paid a higher price than your friend for the same item? What made the seller quote a higher amount to you? What could you have done to get the best bargain?

Back from the US after living there for two years, I'd forgotten the art of haggling. But after setting up my home in India from scratch, I think I've re-learned the tricks a bit :)
A few tips that can be of help:

1. Remember that the seller wants to sell the item to you. So, you're always at advantage.
2. Do NOT be shy to bargain.
   
3. Do NOT wear expensive clothes or in general give an impression that you can spend a lot of money. If you have two vehicles, take the cheaper one to go shopping.
4. Start shopping early in the day as the shopkeepers do not want to turn away the first customers and will offer their best prices.
   
5. Know what is the right price for the item you want to buy. Before you decide on what you want to buy, ask your friends/relatives and survey the market a little to know how much you can bargain. Some shops quote much higher price and require much more haggling than others.
6. Even if you're not sure, pretend that you know a lot about the prevailing market price and about the product.
7. Mention repeatedly that the price on offer is "too high".
   
8. Never appear too impressed with the item you want to buy. That will make the seller's need to sell more than your need to buy and hence give you an advantage.
9. If you want really good deals, do not go to prettier or expensive looking shops, they would have higher margins of profit and hence higher prices.
10. It's best to mention that you were referred to this shop by someone so they know that you're aware of the prices and the quality of products available there. And you may also get a little more discount that way.
11. Quote a final figure that you're willing to pay and be prepared to walk away if the seller doesn't agree. In most cases, they will re-quote a price slightly higher than yours, but stick to yours if you know that is what you want to pay. Better still, in the beginning itself, quote a lower price so it is open to increase. You may even be pleasantly surprised if you get that low price.
12. You can get much better bargains at flea/street markets since the sellers there have lesser profit margins.
    
13. Remember that you will always get a product much cheaper if you buy it directly from the maker/producer. So, find out if you have some exhibitions or sellers from other regions of the country directly selling their products.
14. Off-season products are easiest to bargain. For instance, sellers want to get rid of their woollens at the end of winters and would be more open to decreasing the price.
    

Note that these tips can't be used in a fixed-price shop. So, make sure you know that the shop is open to bargaining (the "fixed-price shop" sign may be misleading). You can bargain at most of the shops that don't carry a price tag because they usually quote different prices to different people. Bargaining is a skill that can be easily acquired. But it does need some patience, knowledge and an urge to save money.

I'm sure many of you have your own tips or stories. Please feel free to share those in the comments.

Happy Shopping!