I did this indirectly, when i applied for my today's job. After hearing my hourly rate I was really pissed but just didn't say anything because I didn't want to spoil the deal just because one overconfident offer. So I sat there, silently. And in the end my new boss himself made me a better offer, without hearing any counter argument/offer from me. I think it is really a powerful tool, especially when you know how and when to use it.