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S/H basses - pricing


andy67
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How do you price your bass once you've decided to sell it?

For me, I look at new price say £700, shop offers 1/3 in trade £233, I do a bit research and generally think about 50% £350 is pricing to sell.

Its a really tough balancing act as most buyers are looking for a bargain and if you go to close to new price, it kinda turns folk off or they'll buy new.

I know it changes instrument to instrument but I'm genuinely interested to see how folks calculate the S/H price.

Andy

Edited by charic
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Very difficult, after all anything is only worth what somebody will pay for it. I tend to do a bit of research and then price according to whether I want a quick sale or I'm prepared to wait.

Probably no help at all, sorry,

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For non-bass related stuff I usually aim for 50% of retail with a +/- of 5% dependent on condition - the market for instruments (and other music items) seems to be higher than that when I've looked, often nearer 65/70% so it depends how much you like haggling; if haggling is likely to happen I think a lot of people add a little more to the price so that they can drop down & still be happy with the result.

Obviously this is all just my opinion so take it with a pinch of salt, really prices are driven by what's already on the market so it could go anywhere - though the few people I've seen asking full retail for s/h goods did give me a smile.

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[quote name='andy67' timestamp='1422621411' post='2674694']
How do you price your bass once you've decided to sell it?
[/quote]

Lots of variables - age, condition, make & model all make a big difference.

The standard stuff like Fender & Musicman always seem to hold their prices better than other makes or the more esoteric, custom stuff, but even that is subject to the fickleness of what's "in" at the time.

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I have a bass for sale on an enthusiasts forum, I priced it accordingly but getting mails informing me that I'm underselling and being daft! Maybe so but I kinda like to sell at an affordable yet realistic price. If it were for example an all original 1951 Fender p-bass, well that would be different.

The bass in question cost me £1050 17years ago, its been revised and upgraded to the mk3 version which now means mine is discontinued however, to buy the mk3 version costs £2672 I priced my obsolete version at £850 and have had some real cool mails in response!

Edited by andy67
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[quote name='RhysP' timestamp='1422627244' post='2674796']
Lots of variables - age, condition, make & model all make a big difference.

The standard stuff like Fender & Musicman always seem to hold their prices better than other makes or the more esoteric, custom stuff, but even that is subject to the fickleness of what's "in" at the time.
[/quote]

Definitely! Warwick and Musicman are the strangest ones. Sometimes they are so cheap and the next real expensive S/H, I always feel for Warwick owners given the price point they came in at in the late 80's and now so low.

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My advice is decide the price that is right for the instrument, right for the market and right for you. . . . then bloody well stick to it!

So you get no nibbles in the first week, just sit tight. As soon as you start dropping your price you've killed the sale. People will sense a [i]need to sell[/i] as a weakness and try to turn it to their advantage.

Anyone with any sense will just sit back and see how far you'll go, then step in when you start complaining that this is your last price drop.

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[quote name='neepheid' timestamp='1422626935' post='2674790']
Do research for past prices, eBay, here, gumtree. Decide how desperate I am to shift it, versus condition, rarity etc. and adjust accordingly. Hold off if Thomann are doing daft end of line prices (new stuff for second hand prices) ;)
[/quote]

All good advice. And it's not just Thomann! I'm trying to sell a used amp, and now GAK are doing a brand new one for not much more than I was asking... <_<

Part of the problem is that the seller always wants to get the highest price possible and the buyer wants the lowest. That's where haggling and negotiation come in (for some people - not everyone!). Added to that, it is very much a buyer's market at the moment so if you want to get a sale you may have to come down a bit from your asking price. :(

Then there's the problems of sentimental value and upgrades.... and the "I want to get back what I paid for it" mind-set. Problem with that is that the market changes!

It's complicated, but generally you can tell the genuine sellers from the opportunistic chancers (famous last words, I know!).

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[quote name='chris_b' timestamp='1422628588' post='2674823']
As soon as you start dropping your price you've killed the sale. People will sense a [i]need to sell[/i] as a weakness and try to turn it to their advantage.
[/quote]

I see what you mean, but I'm not sure I totally agree with this. Sometimes (as in my case and a couple of others recently that I know of) a price drop reflects a change in the market - such as that mentioned above.

It doesn't indicate weakness on the part of the seller IMO. The desire for a quick sale is not a weakness!

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[quote name='Conan' timestamp='1422629745' post='2674858']
All good advice. And it's not just Thomann! I'm trying to sell a used amp, and now GAK are doing a brand new one for not much more than I was asking... <_<

Part of the problem is that the seller always wants to get the highest price possible and the buyer wants the lowest. That's where haggling and negotiation come in (for some people - not everyone!). Added to that, it is very much a buyer's market at the moment so if you want to get a sale you may have to come down a bit from your asking price. :(

Then there's the problems of sentimental value and [b]upgrades[/b].... and the "I want to get back what I paid for it" mind-set. Problem with that is that the market changes!

It's complicated, but generally you can tell the genuine sellers from the opportunistic chancers (famous last words, I know!).[/quote]

That's the one thing that gets me! Squier basses, just because it has been upgraded imo, doesn't mean its worth anymore. I have witnessed some trying to get more than new just because they have upgraded the pups! Its still a Squier and realistically is only worth what its worth S/H.

Edited by andy67
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Research on past prices is best as things vary so much. Warwicks cost an absolute fortune brand new but go for peanuts second hand. Other basses hold their value pretty damn well. Look at what other ones have been sold (I generally search on here/talkbass) then ask for a price close to that (that you're happy with selling for)

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[quote name='chris_b' timestamp='1422630957' post='2674898']
It is if you're a buyer who's willing to hold out until the price drops even further.
[/quote]

Maybe, maybe not. I think we'll have to agree to disagree on that one! :D

A buyer who holds out for an extended time period (denying themselves access to something that they have already identified as desirable) just to save a few quid - is not exactly in a position of "strength" IMO... :)

Edited by Conan
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Eh?

Surely this is basic market forces at work?

If you [i]have [/i]to sell or buy then you're not in as strong a position as if you will sell or buy but don't [i]need[/i] to at this time. Hence, in either case if you can wait you'll get a better price.

But my basic point is when a buyer sees a price dropping he will wait for it to reach rock bottom, and in most cases that's not going to be good for the seller. That's text book deflation and in many cases that seems to be happening in the classifieds at the moment.

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If I`ve bought it on here, I`ll sell it for what I paid for it.
If I`ve spent extra cash on it, I`ll try to recop that as well.
If I didn`t buy it on here I`ll just look to see what similar basses are going for and price it in the same area.

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Regardless of what you pay or researching sold prices of similar models I still get a pile of lowball offers when selling :lol:

I've even agreed a price , delivered it for free and then the buyer thought now was the time to haggle over the price!
Humans eh :)

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[quote name='RhysP' timestamp='1422627244' post='2674796']
Lots of variables - age, condition, make & model all make a big difference.

The standard stuff like Fender & Musicman always seem to hold their prices better than other makes or the more esoteric, custom stuff, but even that is subject to the fickleness of what's "in" at the time.
[/quote]
That's my take on things as well. I've never gone for the percentage thing (at whatever rate somebody decides is correct) for exactly the reasons you've mentioned. Picking up an American Standard Precision for 50% of the list price isn't going to be easy. Gear that's been deleted can often go for more than the retail price just a few months earlier if there's still a demand for it.

Research on the current market is the only way to go really. Just too many variables otherwise.

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[quote name='3below' timestamp='1422632905' post='2674939']
S/H Warwicks are a steal at the moment representing outstanding value for money. As mentioned above research and price accordingly, lower if you want a quick sale.
[/quote]

I cannot believe the prices they are going for. SSIs for less than £1k a plenty this year already, and there is a Thumb NT5 for £975! Considering what you are getting for your money, crazy!

The market is everchanging, some brands will, for whatever bizarre reason, always attract a good price (Fender e.t.c.), others go through fazes. One thing us for sure, there is no set 'rule' in valuation.

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[quote name='Kev' timestamp='1422661477' post='2675503']


I cannot believe the prices they are going for. SSIs for less than £1k a plenty this year already, and there is a Thumb NT5 for £975! Considering what you are getting for your money, crazy!

The market is everchanging, some brands will, for whatever bizarre reason, always attract a good price (Fender e.t.c.), others go through fazes. One thing us for sure, there is no set 'rule' in valuation.
[/quote]

"There is no set 'rule' in valuation." This is an interesting point and one we should explore, perhaps a guide? I've seen some trying to attain almost full value on a second hand instrument with the upgrade/two weeks old caveat.

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Most of what needs to be said has been said already, but just on the point of having confidence in your valuation:

I have a vintage classic bass up for sale through The Bass Gallery ATM. The price was set according to it's age, condition, quality and rarity, and was arrived at after a fairly lengthy and detailed conversation with people at the store who know what they're talking about. It's now been up on the website about 6 or 7 weeks. I checked in with them the other day just to get an update, and they confirmed the valuation. I'm in no rush to sell it and don't need the money for anything in particular so I'm happy to go with their judgement. If it doesn't sell then it's not a catastrophe - I'll simply withdraw it and hold on to it for a while until the value goes up a bit more.

Like everybody who's been here a while I've seen basses sold well below their market value because the seller is desperate to raise some capital. If that's the case then of course you do what you have to. Failing that, if you've done your research, have an objective approach and have confidence in your valuation then stick with it and be patient.

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[quote name='Freddy Le Cragg' timestamp='1422707564' post='2675839']
I use completed/sold listing results on eBay, take a median average from the previous 10 to 20 sales, then knock 10% off that.
[/quote]

Yup, very similar to what I do too. I do check a lot of places and use my own experience too. Personally feel there is a couple of hundred quid between modern standard US and MIM Fenders e.g. A MIM P new £501 - used £350, this will be contentious but in my experience US Fender Ps don't go for much over £600 used. And to be fair, I think the MIM Classic 50s P is every bit as good as the U.S. Standard P.

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