What is a good guideline of how much you should be paying (percentage wise) of the first price

at the

1) fake markets
2) pearl markets
3) fabric markets.

thanks.

1) 0%
2) 75% (Pearl market at Hongmei Lu)
3) 80% (399 Lujiabang Lu, standard items*)

very rough guideline... once you have found your "dealer" the next time you will get a good price immediately

*) if you go for any "tourist" clothes you can bargain much harder... I once got a silkrobe and the tailor tried to rip me off. Also if you buy ties or other fake products you have to negotiate like on former XY market

Your best bet is to know what is a reasonable price to begin with. In my experience, the bottom price is pretty fixed. Different vendors will size you up in different ways, I don't think you can consistently predict a percentage.

Two bits of advice, make your first counter offer low enough that you can raise it a couple of times. You need to provide that back and forth exchange, but only raise your price a few rmb. At the fake market (and that includes downstairs at Hongmei Lu) walking away can be part of your bargaining strategy. They'll drag you back.

Secondly, if the vendor is talking to you, then you're in their range. Doesn't matter if they are laughing, telling you how ridiculous your price is, etc., they're just trying to milk a bit more out of you. You'll know when you are truly below their selling price -- they'll just dismiss you with a wave of the hand.

have to agree with mswp.

If you just want to get in and out quick, use what Angie said. But, notice the look on the sellers face as they give your change. Sometimes you can see amazement about how much profit they just made and they want to get you out of there before you realize you've been had.

There used to be some 'cute' bargaining guidelines, but the sellers know these, and they know a lot more about sizing you up than you do about what the real price is. I've seen friends and strangers start at anywhere from 300 to 800 rmb for a fake purse, for example, and ultimately the sales price is about 40rmb for those that are willing to haggle correctly.

I have learned the 'wholesale price' for a couple of things. Based on that, I suggest looking at the item closely, figue out how much it would cost in a very low-end store in the west (an obscure brand in a no-name store in a bad neighborhood), then take 80% off, so start bargaining at 90% off. If you're truely confident, they'll know you know, they may even get angry....seriously angry from what I could tell. Just know that even if you have reduced the item to 5 or 10 rmb profit for them, that's one meal for them, so it's a good profit for one sale. Always walk away at least once.

They know hardcore bargaining, it's their life. They also know that profit margins of 300% or more are possible, and every one of those sales makes up for many lost 10rmb profit sales. If you want the satisfaction of a fair deal, you have to work for it. The worst thing that will happen is you are too low and they will let you walk away, but probably still counter offer. Use that information and go find the same item at another shop and start over.

This will work for purses, bags, clothes, belts, etc. Jewelry and DVD's are based more on what the market will bare.

BTW...
Do a search on this Forum. There is a running thread on what people have paid at the markets. Will help you get dialed in to what the range is for the final sales prices for many items.

Easiest rule here: if the store owner is one step away from crying in tears or a HUGE fist fight is about to erupt, then you're doing well.

I think the real truth is that if they sold it to you at all....you were above the lowest price.

After that...it is just guesswork