The Art of Bargaining

I visited Battery park in Manhattan last week searching for some bargains. I was never the best negotiator of deals, usually settling for the advertised price. So, I instead observed my friends as they bargained with the street vendors for some fake designer goods. Here was the conversation that occurred.

Friend: How much for that item.
Street vendor: $45
Friend: $45 ? ... I will give you $20.
Street vendor: No mon, I cannot do that, you crazy man.
Friend: I talked to the vendor a few stalls down and he was giving me that same item for $20.
Street vendor: Brutha, I cannot do that deal.
Friend: That's fine, I will just go to the other vendor and purchase it.
Street vendor: aight, aight, give me $20.

The three lessons that I learned from this conversation were:

1) Starting bargaining at half the initial price and work up.
2) Use the "The other vendor is giving me that same item for that price" line .
3) Act like you have nothing to lose, the vendor is the one who is losing the sale.

Use this advice at your own risk, don't be spamming me if it doesn't work.