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Bargaining is the name of the game in Peru in the markets and often in the craft shops too. Indeed, in the markets there are no prices on display. You need to bargain prices with the stall holder. Wait until the seller suggests a price, and then offer to pay half to two-thirds of that price and take it from there. To find out the lowest price that a vendor will accept, ask "el último?"
It is worth checking out prices on a few different stalls with similar products before entering into bargaining, to get a good idea of value. Also recommended is to buy a lot of things at the same stall. Sellers will often discount prices for those buying in bulk. Stalls away from the main arteries of markets will often have better bargains than those near strategic corners. Most importantly, don't pass up that unique sweater for the sake of a dollar. That dollar will mean more to the stall holder than to you, and you will surely regret it when you get home.
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