What to actually say
Open with this, more or less word for word: Too high compared to what, exactly?
That's useful to know. Can I ask what you're comparing it to?
Most people say 'too high' as a reflex, not a data point—this makes them supply the reference number, which is the only thing you can actually respond to.
If the number's the only problem, I want to know that. If something about the value isn't landing, I'd rather hear that too.
It separates the two objections out loud instead of guessing, and it doesn't accuse them of hiding anything.
I can't move much on the price, but I can move on what's included, if there's a number you're trying to hit.
You hold the price and offer a real lever in the same breath, so it doesn't read as a wall.
If this isn't the right fit right now, that's fine—I'd rather know than keep guessing.
Giving them a clean exit removes the incentive to use price as a polite way of saying no without saying it.
How it usually goes
A version of the conversation with the push-back left in, because that is the part you need to have already heard once.
What not to say
This is actually a great deal for what you're getting.
It tells them their read on value is wrong, which makes people defend their position harder, not soften it.
I understand price is important, but quality costs more.
It's a line they've heard from every vendor who ever raised a price, so it registers as noise, not an answer.
Let me see what I can do.
It signals you'll move before you know why they're pushing, which trains them to push again.
If they just repeat 'it's too much' without giving a reason
Some people say this because it's the safest sentence in a negotiation—it costs them nothing and tells you nothing. Don't argue with it or discount against it. Get more specific than they were: 'Too much for the budget, or too much for what you think it's worth?' That question forces a choice between two different problems, and most people will answer one of them honestly rather than repeat the vague version a third time. If they still won't specify after that, treat it as information—they may not be a real buyer yet, and no amount of discounting fixes that.