advancedValuation
Price Anchoring
A negotiation tactic where the first price stated sets the psychological reference point for the deal.
Price anchoring is a negotiation tactic where the first price stated in a negotiation sets the psychological reference point (anchor) for all subsequent discussion. In domain sales, sellers who state a high initial price anchor the buyer's perception of value upward. Buyers who open with a lowball offer try to anchor downward. Experienced domain sellers typically set anchors by stating their full asking price first.