BUYER: Toy Car

Please read the following information and plan your negotiation. Do not read your partner’s information. During the negotiation, you may disclose whatever information you’d like to your partner. Feel free being creative, and please don’t read the information directly to them. Be conversational! Prices are in United States Dollars.

When looking through a local flea market, you see a hard-to-find toy from your childhood. It’s a limited-edition Road Racer with custom paint and rotating wheels. You remember seeing TV commercials for this toy car when you were young and you’ve seen recent internet videos from collectors. However, you’ve never seen this item for sale anywhere. A recent online article said this same limited-edition Road Racer sold for $1000. More importantly, you have other Road Racer cars from the same year and this specific car would increase the overall value of your personal collection. You imagine the bragging rights this Road Racer would give you, too.

You decide you must seize this opportunity and buy the car. There is no price tag on the car, and because this is a flea market, you know everything in the store is negotiable.

You have $1,500 you could spend on this car. Even though the recent article showed a selling price of $1,000, the increased value to your personal collection and your personal pride gives you motivation to make a deal. How will your expectations and budget align with the seller’s?

This scenario is inspired by a case study from Leigh Thompson, an exquisite negotiation researcher