I was reminded again last night of the importance of anchoring while watching Oscar nominated film Marriage Story.
It tells the story of a marriage break up, and both parties get sucked into dispute once lawyers get involved. One of the lawyers essentially says you shouldn't be reasonable in your initial demands, and here's why. The other side will start at "Crazy" and so if you start at "Reasonable" and you settle half way you will be settling half way to "Crazy". The lesson being if you start at "Crazy" in the opposite direction - you might settle at "Reasonable".
Not I don't suggest that you start at "Crazy", apart from anything else in business negotiations you need a little good will, and the other side need to believe that it's worth putting the time into trying to get a deal with you. Which they won't if they think you might be totally unreasonable. But it's worth reflecting that anchoring the discussions will influence the subsequent negotiations.
If you have some insight into the other sides negotiating strengths and styles that can help too - just how crazy or reasonable are they?