Diamond Power: Gems of Wisdom from Americas Greatest Marketer

When you're negotiating, don't forget that the other party needs something you have—otherwise they wouldn't be bargaining with you.

J.P. Morgan once wanted to buy a large Minnesota ore track from John D. Rockefeller. Rockefeller merely sent John D., Jr. around to talk. Morgan asked, "Well, what's your price?" John D., Jr. said, "Mr. Morgan, I think there must be some mistake. I did not come to here to sell. I understood you wished to buy."