Used Equipment Pricing Etiquette

[flyfisher]

I know there are no absolute rules for pricing used gear, but I'm wondering if there is a generally accepted etiquette. Is it reasonable to sell something for more than it was bought for? Is it reasonable to buy something, use it for a period of time, possibly for fee-earning gigs, then sell it on later for the same price. On that basis, we'd never have to incur any wear-and-tear costs ourselves would we?

Just wondering.

[BigRedX]

You buy second hand instruments based on what you think they are worth and you sell them on the same basis. Sometimes over time they will be worth more and consequently sell for more and sometimes less.

What's the problem?

[Clarky]

My philosophy is to 'spread the love'. I have bought gear at great prices on BC and I have never knowingly made a profit by selling on again (of course I also try not to make a loss, unless there's a reason eg, wear and tear). But thats me. Plenty of people on BassChat, based on other threads covering the same topic, think that is naive and see no harm in pricing for maximum proceeds. Noone is right or wrong. Entirely depends on your personal stance

[Jellyfish]

I recently purchased a Jackson RR5 off a bloke who wanted £130 for it (a figure [i]he [/i]asked for). I knew a friend who wanted a Flying V so I purchased it and was going to ask for the same amount in return but he then later said he was no longer interested. It was only then that I found out that they go for much more and I ended up selling it for over £400 (despite trying to sell it on here for £300!) I don't feel bad for selling it for that much, as the guy got what he asked for it, but I wouldn't ever think about doing it intentionally.

It still comes down to the point of "it's worth what someone will pay for it."

[bassace]

[quote name='Clarky' timestamp='1377356903' post='2186676']
My philosophy is to 'spread the love'. I have bought gear at great prices on BC and I have never knowingly made a profit by selling on again (of course I also try not to make a loss, unless there's a reason eg, wear and tear). But thats me. Plenty of people on BassChat, based on other threads covering the same topic, think that is naive and see no harm in pricing for maximum proceeds. Noone is right or wrong. Entirely depends on your personal stance
[/quote]

Clarky is an open handed and fair guy when it comes to doing deals, and I know there are others who will readily share this opinion. I'm not aware of having made a profit on any of my several churns, but at the end of the day a fair price is simply what the buyer is prepared to pay. Supply and demand. Probably the main benefit of the BC marketplace is that it enables us to try a different piece of gear and keep or pass on according to whether we like it or not. The small amount of cash lost on the turn is probably a reasonable price to pay for the experience.

[flyfisher]

[quote name='BigRedX' timestamp='1377356631' post='2186669']
What's the problem?
[/quote]

No problem. As I said, just wondering.

[uncle psychosis]

[quote name='flyfisher' timestamp='1377356197' post='2186665']
I know there are no absolute rules for pricing used gear, but I'm wondering if there is a generally accepted etiquette. Is it reasonable to sell something for more than it was bought for? Is it reasonable to buy something, use it for a period of time, possibly for fee-earning gigs, then sell it on later for the same price. On that basis, we'd never have to incur any wear-and-tear costs ourselves would we?

Just wondering.
[/quote]

I sell stuff at, or just below, whatever the market-rate for that piece of gear is at the time I come to sell it. If I get a ridiculously good deal on something and my own finances allow it then I will try and pass that deal onto other people, but at the same time I have a family to provide for and their needs come first!

[Ziphoblat]

It depends what it is. I bought an '86 Gibson Explorer Bass for £450 and sold it for £650. Also bought a Gibson Grabber for £400 and sold it for £850. However that was on eBay, and I took a bit of a risk with both listings because all that was provided was one or two phone-camera pictures and a hastily written sentence or two. I sold them back on with proper photographs and descriptions. There's also the fact that Gibson basses from that era are appreciating in value.

When I sell on here though I just look to get my money back, unless I bought something new in which case it'll be listed for the going rate.

[largo]

I tend to search on ebay using the "Sold" filter and then price what I'm selling at the same, or slightly under what people seem happy to pay.

[Lozz196]

[quote name='Clarky' timestamp='1377356903' post='2186676']
My philosophy is to 'spread the love'. I have bought gear at great prices on BC and I have never knowingly made a profit by selling on again (of course I also try not to make a loss, unless there's a reason eg, wear and tear). But thats me. Plenty of people on BassChat, based on other threads covering the same topic, think that is naive and see no harm in pricing for maximum proceeds. Noone is right or wrong. Entirely depends on your personal stance
[/quote]

A good philosophy Clarky, this is the way I I buy/sell as well.

[SpaceChick]

Profits and losses I have made have been marginal. I agree, share the love

Something is only worth what someone else is prepared to pay for it whether you are buying or selling.

I'd rather hold onto something than undersell it, and I'd never want to be ripped off as a buyer either!

[Kev]

I think its totally dependant on circumstances. It seems quite common on here for someone to buy something cheap off gumtree/eBay and sell for more on here (i recall someone bought a Warwick Vampire for pennies off eBay and sold on here for £800 odd days later, and there is a Sandberg in the forum at the moment that was bought for half the price on eBay) and i think plenty buy cheap on here and sell on eBay for more. I was heavily criticised on here a few years ago for selling a bass for £200 more than i bought for on here (student and [i]very[/i] hard up at the time), but it seems to have calmed down now a little.

[RhysP]

[quote name='Kev' timestamp='1377372914' post='2186897']
I was heavily criticised on here a few years ago for selling a bass for £200 more than i bought for on here....
[/quote]

I can't see what the problem is personally.

The bottom line is if somebody thinks something is overpriced they don't have to buy it.

I bought a bass on here a couple of years ago for a stupidly low price - I could ask £250 more than I paid for it & it would still be a bloody good buy. If I can make a decent profit & still sell something for a good price then I'll do it.

I do occasionally buy bits of gear (when I see them at crazy low prices) purely with the intention of selling them for a profit. I've not done it on here but I've done it on Gumtree & Ebay with no qualms whatsoever.

A good example of this is a valve guitar combo I got from a local seller early this year for a seriously stupid price (I don't haggle or try & knock the price down BTW - if I think it's a bargain I'll pay what the seller is asking) & recently sold at auction on Ebay for a 100% profit.
Even at the price it went for it was a bargain, I made a tidy profit & the buyer got a great amp for a great price - what's the problem with that?

[fretmeister]

It's yours. You and the market set the price at the time you sell it. The price you paid is utterly irrelevant.

Spotting a bargain and buying cheap does not mean you have to sell it onwards cheap.

In these days of hard times if you have the chance to put a little extra food on the table by making some profit and you decide not to - you need your head examined.

[Lozz196]

To further my post earlier, I`ve no problem with people selling something on for more than they paid for it. It`s up to the buyer how much money they are willing to give for it, not how much money the seller gave for it. As said, personally I keep to the same prices but that`s me, no issues with anyone making a little extra.

[uncle psychosis]

[quote name='Kev' timestamp='1377372914' post='2186897']
I was heavily criticised on here a few years ago for selling a bass for £200 more than i bought for on here (student and [i]very[/i] hard up at the time), but it seems to have calmed down now a little.
[/quote]

The last time this topic came up (a few months back) there were quite a few posters who were adamant that selling stuff on here for more than you paid for it was a massive abuse of the community and completely and utterly unforgivable. It got fairly heated as I recall.

[Dad3353]

Some folks buy houses and sell them a few years later for a higher price. In fact, houses, it seems, are [i]supposed [/i]to increase in price, over time. Is there a difference..? Is there an explanation..?

(Please note: I wrote "price", and not "value". The two are seldom correlated.)

[RhysP]

[quote name='uncle psychosis' timestamp='1377376208' post='2186946']...... It got fairly heated as I recall.
[/quote]

Really? I find it hard to believe that would have happened on a Basschat thread......

[neepheid]

[quote name='uncle psychosis' timestamp='1377376208' post='2186946']
The last time this topic came up (a few months back) there were quite a few posters who were adamant that selling stuff on here for more than you paid for it was a massive abuse of the community and completely and utterly unforgivable. It got fairly heated as I recall.
[/quote]

Yes, unfortunately I remember. I'm a free market radical. Not to mention the worst kind of amoral profiteer it would seem.

Edited August 24, 2013 by neepheid

[karlfer]

[quote name='Ziphoblat' timestamp='1377361455' post='2186747']
It depends what it is. I bought an '86 Gibson Explorer Bass for £450 and sold it for £650. Also bought a Gibson Grabber for £400 and sold it for £850. However that was on eBay, and I took a bit of a risk with both listings because all that was provided was one or two phone-camera pictures and a hastily written sentence or two. I sold them back on with proper photographs and descriptions. There's also the fact that Gibson basses from that era are appreciating in value.

When I sell on here though I just look to get my money back, unless I bought something new in which case it'll be listed for the going rate.
[/quote]

Wish I'd known about the Gibson Explorer

[uncle psychosis]

[quote name='neepheid' timestamp='1377384425' post='2187038']
Yes, unfortunately I remember. I'm a free market radical. Not to mention the worst kind of amoral profiteer it would seem.
[/quote]

I just thought the whole thing was weird.

[borisbrain]

Stuff depreciates, but money does too. And there are so many other factors - vintage value, availability, modding etc.

You might have bought a P Bass in 1962 for £79 and thruppence-tuppence h'apenny but that doesn't mean selling it for less. A MIM Jazz bought last year probably won't go for more. Some new Jaydee custom basses have an 18 month waiting list, so they probably will go for more. Other stuff can be improved (or indeed wrecked) by modding.

I guess you win some, you lose some. I once bought a Fender Rhodes eleccy piano for £100, and sold it a year later for £200. I also bought a Trace Elliot Series 6 full stack a few years back for £600, and sold it for a disappointing £250 on fleaBay. I subsequently bought an American Ampeg SVT half stack for £450 from the same place, and shifted it for more when I sold it recently.

I guess it's all down to market forces. We've all known on BC how certain brands can fall in and out of love...

BB

[thisnameistaken]

I don't really like the idea of people buying stuff with the sole intention of selling it for a profit. Either here, or on eBay, or in life in general.

Although it seems to me that most stuff in the for sale forums is over-valued these days anyway.

[BigRedX]

[quote name='thisnameistaken' timestamp='1377417196' post='2187176']
I don't really like the idea of people buying stuff with the sole intention of selling it for a profit. Either here, or on eBay, or in life in general.
[/quote]

I don't have a problem with that. It's how all retail works anyway.

Most stuff that sells for less than it should on eBay is because the seller seemingly can't be bothered to make an effort. A few murky out of focus camera phone shots and collection in person only. If someone can make a bit of money by doing what the original seller should have done in the first place then good on them.

[Martin E]

My pet hate is sellers using the phrase 'I just want to get back what I paid for it'.

If selling an amp for example my immediate thought would be - well you say you've had it for two years, so done maybe fifty gigs with it and countless rehearsals and now you have the audacity to say you want your money back.

This also implies that the seller having had two years of use and wear and tear of this item would normally be selling at an increased price but in fact is doing us a favour 'just' asking to get back what they paid for it.

OK, rant over, I know you can look at this from an entirely different angle but personally I'd never reply to such an ad because rightly or wrongly puts me off straight away.