When you reach 25 Commerce from selling items to merchants, you gain the "Haggle" skill.
(it will only appear after you relog or possibly zone. 25 commerce seems to be the cap point as far as aware from selling low value junk one at a time like basic torches/resin/animal parts etc unless i'm mistaken)
with this skill you can select an item a merchant is selling and use the skill.
you cannot haggle for items you are selling to them.
you can only haggle each specific item one time on a merchant.
however this resets when you log out and in.
you have a chance to either
make no change to the price
reduce the price
reduce the price "greatly"
or increase the price if you offend them.

seems to be some variability in the price changes even within the same tiers of result.
i have not seen any skill ups in commerce so far from only using the Haggle skill itself. (But some from buying after haggle even 25+ skill)
unclear the extent to which charisma may impact this.
for example on a new testing character (with 26 charisma or 36 charisma with wash buff) if I apply this to buying a lantern.
base price is 1 gold. if i get the +10 charisa buff (from 26 to 36) the lantern is 99 silver.
(if i compare to a character with about 50 charisma the 'base' price of a 1g lantern is also 94s 5c prior to any haggle. a 78 cha makes it 93s 10c. so very roughly 10 cha = 1 silver reduction on a one gold priced item)
on the 36 cha character a "regular" haggle success has given variable prices to
96s 11c (2s 89c reduced)
94s 50c (4s 50c reduced)
93s 85c (5s 15c reduced)
92s 93c (6s 7c reduced)
on a "masterful" haggle i have reduced the price to 69s 30c (29s 70c reduced)

on a failure when lantern price went up, it went to 1g 3s 36 (4s 36c increase)
any one else experimented with either Commerce more generally or this (new?) Haggle skill