I have been exploring more about negotiations, the psychology behind it, and so on, after I recently blew up 2 deals while doing outbound (it was either my fault, or the buyer wasn't interested; but I was the one who was at a loss, given that the names were $2 hand reg which had limited visibility). For those of you who are not aware of biases, here is a video that you should invest some 12 minutes watching. I am thinking of applying some of these, the next time I am on the table, negotiating a sale. Here is how it works: Let us look at the first kind of bias, the ANCHORING BIAS Anchoring bias is the bias that is driven by the first number that comes up, such that it drives the decision. In domaining, it plays out in a way when we put out our first ask, during an enquiry. If the question comes up from the buyer's end, as to "How much are you looking at, for this domain?", how do you respond to that query. Your response will decide whether you leave a lot of money on the table, quote too high and lose the deal or you end up winning the deal and making a great ROI, extracting the full value from the buyer. Based on my research so far, one of the most important things to do, is to make the buyer feel that they are the smarter ones of the lot! And for that, your opening price is very important, as it ANCHORS the counter offer from the buyer. Which makes it all the more important to research any of their previous acquisitions from reverse WHOIS, their current business and the pocket size, the benefits of your domain name for their business and accordingly, quote a number (and may/may not highlight the benefits that they may derive from this sale). I am going to try this out, the next time in my deal and try to understand the right price range for the buyer. Any of these that you have tried during your negotiation and would like to share your experience about the same? Like a hindsight bias where you referred to a previous negotiation or sale, to price another domain that sold. And so on?