henry_flower | The most patient people

'I have made many trips to the diamond district in L.A. to sell my diamonds. If I find myself in possession of a very large or valuable diamond, I have no choice but to head to L.A. and negotiate with the best there is. And there is no doubt who owns that title: The Hasidic Jews in the diamond district are the best negotiators in the world.

They will look at a diamond for three hours. They can learn everything in the world they need to know about the diamond in three minutes. They’re smart; they do this all day and they do it better than anyone. Doesn’t matter. They look for any angle or edge they can get, and then they exploit it until you show them you are either going to hold your ground or cave in. [...]

I took it [the diamond] to Los Angeles and went through two days of negotiations. I was dealing with three different guys. I dealt with the first guy for six hours. Six hours. And another was three hours. And then the third was six more hours. That type of negotiation is based on one thing: time.

They look at you and say, “I’ll give you a hundred dollars.”

“No, that’s not going to work.”

“OK, let me look at it again.”

So they take it back, roll it over in their hands for about ten minutes, and then say, “I’ll give you a hundred dollars.”

“I told you, that’s not going to work.”

“OK, let me look at it again. . . . I’ll give you a hundred dollars.”

It’s endless, and it’s tedious, but damn if it isn’t effective. I’ve been in there and said, “I need to use a restroom.”

“Sorry, we don’t have one.”

[...]

They come into our shop, too. I’ll deal with them, [...] But if they show up and Old Man is behind the counter, he kicks them out.

A diamond dealer walks in to talk to Old Man, they’re gone. He knows how good they are, and he knows he doesn’t have the patience to deal with them. If you know you can’t win, sometimes it’s best not to play the game.'

(From License to Pawn: Deals, Steals, and My Life at the Gold & Silver by Rick Harrison & Tim Keown.)