Jake Hushka Post 6 -Souveniors and Bartering

I am assuming everyone on this trip will, in one way or another, be bringing some gifts/souveniors back from the trip. Below is a quick writeup from some of the research I found when searching how to barter with street vendors and suggestions on how to get your item at the best price.

Bartering with street vendors/at the market

Bartering with street vendors and at the Chinese marketplaces is a trade society; besides at restaurants, malls, and supermarkets, you haggle for whatever the stuff is worth. The point isn't to rip off foreign tourists or purchasers, as even Chinese students and other locals don't know the prices and therefore pay too much. In the end, you pay whatever the items are worth to you. If the seller determines that you, even as a foreigner, understand the prices, negotiation goes quickly and smoothly. Many products are quite inexpensive to westerners even without lengthy bartering, and one is tempted to pay more for small purchases (for example vegetables) in order to save time. But when you're stocking up on clothing or souvenirs, haggling become an interesting experience. Save money with the following guidelines:

Rule of thumb for determining price (not guaranteed):
· Start by dividing the opening price by three, this will be considered a decent result in bargaining; opening price divided by four is an outstanding outcome. Always let the seller name a price, then begin with an offer 1/5 of that. Increase your offer slowly.
· When you find something you really like and definitely want to have, don't telegraph how eager you are.
· Be polite and patient, and realize that haggling is fun for the seller as well, because he'll be more likely to make concessions. Traders occasionally let their wares go very cheap, as long as they can save face doing it.
· If an item seems too expensive, don't purchase it out of false politeness. Walk away from the stand and see if the trader will then come down on price; if not, well, you can almost certainly find the same product a few meters down the street. Otherwise, if you don't care at all what the trader thinks of you go back and buy from him.
· Counterfeit currency is very common in China!

Price negotiations at a marketplace go by very different rules than during business transactions, so always be wary.