How Billionaire Warren Buffett Negotiates

Here's how Warren Buffett negotiates. I remember years ago, a designer quoted me about $5,000 for a project, and I asked him this question. And after I asked this question, price dropped from $5,000 to $1,000. That's an 80% discount just by asking this question. And so the question that Warren Buffett likes to ask before he makes a decision is, before I make a decision, what is the best possible price that you can give me? And this gets people to think, and maybe he'll let them sleep on it as well. But by asking this one simple question, people might start to negotiate with themselves. People might start to question themselves. They might wonder, who else is Uncle Warren talking to? Who knows? And it starts to cause a lot of anxiety and they just want to get the best deal.