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Old bike is sold !

Old bike is sold !

David agrees to buy Alex's old bike at $8,000.
David pays $400 as token money to Alex and agrees to pay balance money in next 7 days upon bike delivery.
Alex is in fix, when Newton offers $11,000 for the same bike. What should Alex do?
Photo Adaptation : https://pixabay.com/photos/yamaha-motorcycle-biker-motorbike-8057245/
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Negotiation is an important life skill

We negotiate most of our waking hours. We negotiate with our team members, colleagues, bosses and vendors at work, with our kids, spouse and parents at home. We negotiate during buying or selling of an asset e.g. house, car and also conflict resolution and during salary negotiations. Negotiation is an important life skill and it contributes to our success.

If we do not negotiate well or don’t negotiate at all then there is a big chance that we are going to leave money on the table, which could have been ours. We often don’t negotiate because we feel it is inappropriate or feel uncomfortable and fear it.

“You don't get what you deserve. You get what you negotiate.” Chester Karrass