When I sold my Thumb I was offered a nice bass in trade, the value given by the other fella was “30% off the new price” ... which was a bit odd as that valuation was about £1k more than he had bought it for on basschat six months previously. (Presuming he paid the advertised price)
i honestly think the slowdown down is that folk just have that little bit less cash in their pockets than a few years ago, it doesn’t take much before dropping £1k on a nice bass you don’t really need isnt as appealing.
In a normal market the prices would drop to match what people can afford, and in some cases they are, but I think a lot of people don’t have as much cash, but aren’t doing so badly that they want to drop their price to get a sale... so it feels more stagnant.