RWN PART II - Priya Patel Real World Negotiation Part II:...

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Priya Patel Real World Negotiation Part II: Experience Before taking a course on negotiations, I did not realize how much our lives revolve around negotiating with others. The knowledge I’ve obtained from this class has truly helped me navigate my way through a negotiation efficiently. My real world experience would not have been as successful if it weren’t for the various strategies we studied. When my sister’s boyfriend, Jay, approached my parents about marriage, I was very happy but I knew he would need my help in picking out a diamond. We arranged days that would be suitable for the both of us to pick out the ring and during this time, I knew it would be a perfect way to test my negotiation skills. This negotiation was based on finding the loose diamond for the ring, not the ring setting. There are certain elements of a diamond that the buyer must understand before searching for one. The first aspect would be the weight of the diamond which is also known as the carat. Then you must decide on a clarity grade and color grade for your desired diamond. Lastly, you must decide the cut of the diamond. Jay wanted to get the diamond my sister has always wanted, therefore he allowed me to choose what would be the best. Before venturing to different diamond dealers, we extensively researched market prices for a two carat, princess cut diamond with an H color grade with a clarity grade of VVS2. By seeing the prices that were listed on the internet, we would be able to recognize a fair price in order to steer away from any highball tactics used by the seller. Jay discussed prices that we found with his friends that recently purchased diamonds and I spoke to family member in order to get a good idea of these prices. We would
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This note was uploaded on 04/29/2011 for the course ECON 101 taught by Professor Gottlieb during the Spring '08 term at Rutgers.

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RWN PART II - Priya Patel Real World Negotiation Part II:...

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