In his 1987 book, The Art Of The Deal, the then New York property developer Donald Trump tells the story of how he bought a Boeing 727 at a bargain price.
The going price of the plane in the market was estimated at US$30 million. Mr Trump offered US$5 million. The seller counter-offered the plane at US$10 million. At that point, Mr Trump knew that no matter what the final price would be, he had got himself a terrific deal. He ended up buying the plane for US$8 million.
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