What's your best price for cash?

Petepassion

Sarge said:

Petepassion said:

Cash is often preferable if you’re self employed. 

A lot of banks charge businesses for depositing cash, so again that can be a hindrance. 

All the cash my business takes goes back out in paying for services, parts or wages…I can never get enough cash

guitars4you

Yet one, if not the largest, businesses in the world runs on cash
and another prominent business is a strong cash based business 
and I bet neither offer a discount for cash

Petepassion

When cash no longer exists, the self employed person on a modest wage will suffer, even though it will make little difference to the economy, whereas the politicians and corporate CEO’s will still steal billions from the tax payer 

jellybelly

I think it's just a euphemism for 'can we haggle', although not a very subtle one. 

I've long since learnt to disassociate my feelings from 'business' and just play it with a straight bat, no matter which side of the transaction I'm on. Just remind yourself 'its just business'. 

A low ball offer just needs a firm 'no', and an offer with strings or expectations weighed appropriately, little point in incredulity. If they start lying and telling me that's all it's worth without data to back that claim up, that's a different matter!

I've had this when buying a car - if I've got data saying it's worth X (autotrader's valuation tool, for example) or there's something similar priced Y below yours, it's almost as if doing some research is unfair or something.

Either an offer will let you turns a profit/break even/solve a cash flow issue or it doesn't. If it doesn't, ask the question as to whether the price is reasonable and realistic. If it is, then the guys got his answer. 

Kurtis

I think if you're worrying about depositing it you are kind of missing the point. 

JerkMoans

Isn’t it business French for ‘let’s lose the tax/fees/etc’?

JR-GibboMan

remember the buyer can't ask you "if I buy it direct can you do it cheaper if you don't have the ebay fees?"

As others have suggested it's just a question to get a little more off.

if I've got a guitar on ebay and I'm losing 10% (say £200 in fees) I'll give the guy the full £200 discount for a direct purchase on my website. makes zero difference to me but it'll save him £200 Bucks and might help get the guitar sold if its cheaper.

prowla

The “what’s your best price?” question. 

Cash can be handy for under the counter transactions. 

robgilmo

tThe EBay thing, you want to pay cash, its a buy it now auction, you buy it but EBay will only allow the sale to complete if you pay there and then, is it any wonder cash buyers/sellers will bypass EBay.

bgmartinsbridge

Used to get, can we split the ebay fees?

That to me is similar to what's your best price for cash/ bank transfer. 

Philly_Q

guitars4you said:

Yet one, if not the largest, businesses in the world runs on cash

Microsoft....?

CavemanGrogg

BillDL said:

I could imagine that asking for a cash payment rather than electronic payment would be beneficial to a seller that's claiming government benefits or similar and doesn't want extra income to show up in a bank account, but I don't really see the benefit of a buyer asking the seller to accept cash except if the buyer was claiming benefits and didn't want a record of outgoings on non-essential purchases showing up in a bank statement.  Similarly some guy that's accrued some cash and wants to hide purchases from a spouse would obviously prefer to buy using cash.

The last time I went to the bank to deposit more than £2,500 in cash was after my elderly mother had been in hospital and housebound and she insisted on me taking money from the ATM with her card to reimburse me for all the shopping I had been doing for her.  I wasn't familair with the machine inside where you shove your money and card into and it counts the notes, so I went to the counter to deposit it.  I was really annoyed when the cashier asked about the source of the cash with some excuse about having to be vigilant about money laundering or some nonsense, but obviously my explanation was acceptable and I told her that I strongly objected to being asked about my financial affairs.

Not just people on benefits, but anybody wishing to ''hide'' the transaction from their bank or the taxman.

Kurtis

BillDL said:

I could imagine that asking for a cash payment rather than electronic payment would be beneficial to a seller that's claiming government benefits or similar and doesn't want extra income to show up in a bank account, but I don't really see the benefit of a buyer asking the seller to accept cash except if the buyer was claiming benefits and didn't want a record of outgoings on non-essential purchases showing up in a bank statement.  Similarly some guy that's accrued some cash and wants to hide purchases from a spouse would obviously prefer to buy using cash.

The last time I went to the bank to deposit more than £2,500 in cash was after my elderly mother had been in hospital and housebound and she insisted on me taking money from the ATM with her card to reimburse me for all the shopping I had been doing for her.  I wasn't familair with the machine inside where you shove your money and card into and it counts the notes, so I went to the counter to deposit it.  I was really annoyed when the cashier asked about the source of the cash with some excuse about having to be vigilant about money laundering or some nonsense, but obviously my explanation was acceptable and I told her that I strongly objected to being asked about my financial affairs.

It's because it could be beneficial to the seller he's asking for something off. No record of incoming. 

bgmartinsbridge

Albeit Canada was able to close bank accounts of people who didn't comply through covid, so be careful what you wish for with a cashless society.

Albeit it's obviously coming down the track. 

Petepassion

bgmartinsbridge said:

Albeit Canada was able to close bank accounts of people who didn't comply through covid, so be careful what you wish for with a cashless society.

Albeit it's obviously coming down the track. 

I agree, it’s a slippery slope and no doubt this is where we will end up.
   Combined with ever further regulation, small businesses will be a thing of the past and the delusional idea that the free market creates the world we wish to live in through our purchasing power will be no more than a joke.
   You want cheap fuel? Where do you go?
you want cheap energy? Where do you go?
    Monopolies form, then you’re fucked, the divide becomes bigger and stronger…the rich slaves finally become poor and completely enslaved.

robgilmo

So how will they implement this? They cant just ban the use of cash, people will still use it, banks will still take it, it just wont be very popular.

Petepassion

robgilmo said:

So how will they implement this? They cant just ban the use of cash, people will still use it, banks will still take it, it just wont be very popular.

They won’t ban it, there is such a thing as the ‘manufacturing of consent’. This is how we are mostly governed. 

   If you want a populace to move in a certain direction they will be far more compliant if they believe the choice is of their own free will and in their better interests rather than being forced to do so.
   Just look at many of the comments in this thread, I’m not criticising anyone, there are justified reasons to opt out of cash transactions. 

fear is a powerful lever.

Petepassion

Apologies to the op if this is straying slightly off topic

RandallFlagg

“What's your best price” is the laziest, lamest and most ineffective negotiating tactic I ever come across.

It tries to imply the person holding the cash has some kind of power in the deal and that you are a distressed seller desperate to take whatever you can get.

I get it on Ebay auctions, quite frequently. I just tell them that the best price is the highest price it sells for in auction and if they are serious then they should place a bid.

The ones who post the questions and make the most noise about best price etc are very rarely the ones who even place a bid.

nero1701

Petepassion said:

Apologies to the op if this is straying slightly off topic

No worries man, I'm enjoying seeing where the discussion takes us :-)