article_snippet.sent: This chart shows that when the posted initial price is of a round number (the red dots), like $1,000, the average counteroffer is much lower than if the average counteroffer is a non-round number (the blue circles), like $1,079 .
article_snippet.sent: For example, a seller of an iPhone may list a price of $1,000 (£660), and someone might come back with a counteroffer of $800 (£530).
article_snippet.sent: a counteroffer of $800 (£530) found that when the initial price is a round number, such as $1,000, a counteroffer of $800 (£530) is between five and eight per cent lower than if it is a non-round number, like $1,079.
article_snippet.sent: In fact, the economists said sellers can even end up with a higher counteroffer if sellers list at $997 rather than $1,000.
article_snippet.sent: For example, a seller of an iPhone may list a price of $1,000 (£660), and someone might come back with a counteroffer of $800 (£530), to which the seller could then accept or make a new offer.
article_snippet.sent: But the study shows that when the initial price is a round number, such as $1,000, a counteroffer of $800 (£530), to which the seller could then accept or make a new offer is between five and eight per cent lower than if it is a non-round number, like $1,079.
article_snippet.sent: In fact, the economists said sellers can even end up with a higher counteroffer if sellers list at $997 rather than $1,000.