Used gear market

[charic]

[quote name='colgraff' timestamp='1445880000' post='2895003']
I've bought a couple of basses this year and sold a couple of pedals.
[/quote]

Excellent plan, pedals are much easier to sneak in

[Lw.]

Of course you would - it's a free market so you can charge what you want, I'm not trying to knock you down on price - we're just discussing the used market.

If it's only been a day then it's probably too soon to say which way the market is leaning, give it a month & see.

Though some people seem to be in a mad rush to sell on here sometimes but that's probably a different discussion.

[CamdenRob]

I think the % saving against the new price people perceive as good value is related to the list price...

32% off a bass that cost £100 to start with isnt really going to interest anyone as it's such a small extra amount to get a brand new one with warranty, the right to return it etc.. This changes for a £8000 fodera, where you'd be saving £2.5k.

Edited November 20, 2015 by CamdenRob

[CamdenRob]

Also just to clarify, I'm not suggesting the 32% saving on the bass you've listed isn't a good deal... it is... but it's not a ridiculous bargain so you're limited to selling to someone interested in that specific bass. Which is likely to be a few people anyway given their popularity

I bought a roscoe fretless sixer off the marketplace last week... I was after a fretless sixer but had no preference on model (waiting for one I've ordered from Wal to arrive anyway) I only bought it because it was such a great price.

As has been said above a great price attracts people outside of those looking for the specific instrument you are selling. A reasonable price means waiting for the right buyer to come along

Edited November 20, 2015 by CamdenRob

[PaulWarning]

[quote name='Machines' timestamp='1448016247' post='2912255']
Not free.
[/quote]this is very true, but the potential market, if you're willing to deliver, is huge compared to Basschat (which is also not free) and Gumtree, if you're selling something at the low end the fees aren't that bad, it's when expensive items are being sold the final fees are prohibitive, but a better price is probably obtained which can compensate for this.
I think when people put stuff on here there's an unrealistic expectation of the value, I recently bought a combo off ebay far cheaper than the asking price was for an identical model on here.
One thing to remember is when buying an item new there's VAT on it, so that means you lose 20% straight away

Edited November 20, 2015 by PaulWarning

[karlfer]

For me, it's always got to be that compromise of a price both buyer and seller are happy with.

Thankfully, many of us have feedback which suggests the buyer will be getting a responsible deal.

THAT is one of the beauties of selling gear on Basschat

[mrtcat]

I think that on BC some people over price items, some people under price items and some get it spot on. It's when I find someone with good positive feedback, selling what I want at a price I find acceptable that I buy it. I'm happy for anyone, regardless of location, with whatever feedback, to advertise at whatever price they see fit. I will only pull the trigger when all my previously mentioned boxes are ticked.

I really enjoy buying and selling on here as it's very rare that I come across anyone that isn't a pleasure to deal with.

[karlfer]

[quote name='mrtcat' timestamp='1448019220' post='2912310']
I think that on BC some people over price items, some people under price items and some get it spot on. It's when I find someone with good positive feedback, selling what I want at a price I find acceptable that I buy it. I'm happy for anyone, regardless of location, with whatever feedback, to advertise at whatever price they see fit. I will only pull the trigger when all my previously mentioned boxes are ticked.

I really enjoy buying and selling on here as it's very rare that I come across anyone that isn't a pleasure to deal with.
[/quote]

^^^^
Nail>>>>head

[Damonjames]

[quote name='karlfer' timestamp='1448017442' post='2912276']
Have to disagree with you.
Currently Nate Mendels, new, selling for around £770.
Mine is 1 year old, new strings, properly set up, all the extras you would get with a new one. It's out at £525.

I think a 32% saving on one that is frankly indistinguisable from new is a very good saving.

If people are looking for more of a saving than that, no wonder the market is slow.

Oh, I did have some EXCELLENT trade offers but they all involved rosewood fretboards, which I'm trying to get away from.
[/quote]

I don't think this is a bad deal either Karl, if it were me, id put it on at that and be expecting offers somewhere near (+/- £50ish). And I am surprised that it's hung around, they are VERY good basses, and as I've said to you before, they are the only precision I've picked up and like the feel of due to the slim neck.
However, I find the reference to the new price a little irrelevant. Sure, it has some influence, but when you are talking £250 quid extra for a brand new bass with a warranty, I'd personally be on the fence as to whether or not that represents great value by buying used and taking your chances. I wouldn't hesitate to deal with YOU on a bass, but peace of mind for me is a big thing. For me, even though I dont gig excessively, I want to know my gear is going to work out if the bag, and while I have good equipment, I've bought it used and have suffered reliability issues at times.
I saw a Spector euro on here not too long ago for literally £100 quid cheaper that what bass direct had it on for brand new... Now spectroscopy are amazing basses, but there is NO way I'd pay anywhere near new price for a used one, they come with a lifetime warranty to the new owner. Now while I know spector's customer service is amazing, and they would always try to help you out, I wouldn't risk that kind of cash without SOME level of warranty.
In your case also Karl, as fickle as it seems, signature models can be harder to shift, especially "rock" bassists models. My mike dirnt fender took an age to go and had to trade in the end, and why?? It's a 51 body with a tele neck, it's not like it's some angry pointy thing... The Nate Mendel is an amazing bass, nothing overly signature about it other than the "FF" neck plate but yet it's "rock".

[DavidMcKay]

I've had items for sale for upwards of 90 days and then, bam, someone contacts you telling you that they must have it. 24 hrs later the deal is done.

To me it is like selling a house. There is a right buyer out there for every item - they just have to happen across your sale.

[Twincam]

There's a bass on here going for more than the price of a new one!

Some people are charging just a little too much, not by a massive amount but enough, on other selling formats it's the same. If you actually want to sell something remember many people are skint, especially this close to the festive period.

Edited November 23, 2015 by Twincam

[Machines]

I think I would never sell a bass for less than i'd be willing to pay for it myself, and often that price is what I in fact what I did pay. I'd rather keep it and let it collect dust than let someone have a better deal than I did.

I'm pretty resigned to keeping my Warwick now though, it's a great bass and sounds immense, if it was a 5 string i'd probably never have put it up. Trading it in for something else isn't a real option, I think PMT Birmingham quoted me £250 on it ! Oh how I laughed.

[dave_bass5]

Maybe the marketplace situation is a sign that we should all just go and play what we have and stop wanting something we dont really need ;-)

Ive brought a few things, and sold a few on here, but i am very wary of getting ripped off, or having complications. I wouldn't buy anything expedience from anyone overseas without seeing some feed back from members i trust, and as mentioned at the start, properly posted ad's and not just a couple of lines of standard seller stuff which requiems the buyer doing all the work in getting the info.

I would also not post a bass (although i have in the past and there were no issues). Ive read too many complaints where things haven't been as described etc, either by propel trying it on or damage in the post, so for me its face to face only. I supouse im lucky that i live in central London, and most of the things i sell are fairly low cost anyway.
I do factor in that by not posting ill limit myself, but thats my choice for peace of mind, and im really only talking about basses here.

What "erks" me is that my ad's are fairy comprehensive (IMO), yet i get time wasters asking about trades/posting to other countries etc, when i have already stated the opposite.By time wasting i mean that i have to reply to these people, even though ive taken the time already to state certain things in my ad. I really dont get people sometimes. What part of UK mainland is so hard to workout, or that i need the money not something i cant use as currency. Incredible really.

[ivansc]

Here is a thought:
A new bass comes with an Added Governmental Bonus of 20% VAT added on.
With just about any other used item, that is going to come off the top before anything else.
And then there is the lack of warranty and the fact that regardless of how carefully you look after it and how little it has been used, it is STILL a used item.

If you take your pride and joy into a typical second-hand store they will offer you about 1/3 of hat you think it is worth.
By the time they pay 20% VAT on their selling price, factor in an allowance for any warranty work that shows up once it is sold, etc,. etc. they will be lucky to see a net profit, even without allowing for the premises, staffing costs, etc., of 10-15%.
I used to work for a Cash Converters years ago, so I know these figures are correct.

Now turn that round and look at it from the point of view of a potential used instrument purchaser.
How do you feel about only saving 30% when there is already 20% tax inflating the original price? No warranty? got to be worth at least 15%. Condition, etc all play a part.
I would say you are probably going to be lucky to see 50% of new price and then only if the manufacturer hasnt cut his current price to way less than you paid.
It is a hard cruel world out there at the moment.
There are always people on ebay that havent done their homework looking to sell for over the current new price and sadly there is usually the odd sucker who pays it without bothering to check their "bargain" price

I recently bought a used Godin LGP90 guitar for £230.
I happen to have a suitable tweed case for it which will help,but I am now getting tempted to chop it in for an even nicer 2xP90 guitar.
I would hope to get back what I paid for it, but even though they are still out there new for I believe £595 it will all depend on the market.
Original MSRP was £699!

Stuff is worth what a willing and able buyer (one with money) is prepared to pay.

Edited November 24, 2015 by ivansc

[PaulWarning]

yep, I'm very loath to pay more than half the new price for anything second hand and that's if it's in good condition, of course if it's a rare item and I really want it, I could pay more, being cack handed this does happen when looking for left handed basses, I recently paid £315 for a nearly new Fender Rumble 500, but it did have a transferable 5 year warranty and there's not many second hand ones about, which is a good sign if you've got one

[karlfer]

All interesting stuff. As it happens my Nate went a couple of days back having been up around 10 days.
More often than not when I've needed to flog something, it's gone in a couple of days.

Interesting about the 50%. I look forward to seeing a year old US Jazz coming up at £550

[sammybee]

I think 50% discount is about right as a rule of thumb on used gear - unless its vintage or rocking horse poo. I definitely think the inflated prices we've seen in the past 5 years or so are definitely behind us.

I've used this formula for many years and has always served me well when it comes to buying and selling. A couple of pieces I've paid slightly more on (but I know I wont sell them on).

Karl - my jazz was £580 which I thought was very fair

[Wonky2]

Any advice on couriers?
I have a Mesa walkabout rig listed at the moment which is I feel fairly priced in reflection of its as new condition.....
(300w4ohm combo and 300w4ohm ext cab.)

I've had some interesting trade offers as understandably its a lot of money for anyone to find, but my trade requirements are quite specific... Only a walk about 12 and cash otherwise it's cash I want....

Trouble is, all the cash enquiries are too far away for buyers to collect and I just haven't a clue how I could safely package and courier two separate units ( combo and cab), safely, with at least some degree of piece of mind....
Wouldn't know where to begin ? How to package them best? If I package them for protection, they'd be difficult to handle and likely thrown about..... What courier will or is best for collect a two part consignment which is tricky to handle and delicate ?
I did see a thread on this recently but can't for life of me find it again !!!
These walkabouts as we all know usually shift quite quickly?

[Twincam]

[quote name='ivansc' timestamp='1448369522' post='2914774']
Here is a thought:
A new bass comes with an Added Governmental Bonus of 20% VAT added on.
With just about any other used item, that is going to come off the top before anything else.
And then there is the lack of warranty and the fact that regardless of how carefully you look after it and how little it has been used, it is STILL a used item.

If you take your pride and joy into a typical second-hand store they will offer you about 1/3 of hat you think it is worth.
By the time they pay 20% VAT on their selling price, factor in an allowance for any warranty work that shows up once it is sold, etc,. etc. they will be lucky to see a net profit, even without allowing for the premises, staffing costs, etc., of 10-15%.
I used to work for a Cash Converters years ago, so I know these figures are correct.

Now turn that round and look at it from the point of view of a potential used instrument purchaser.
How do you feel about only saving 30% when there is already 20% tax inflating the original price? No warranty? got to be worth at least 15%. Condition, etc all play a part.
I would say you are probably going to be lucky to see 50% of new price and then only if the manufacturer hasnt cut his current price to way less than you paid.
It is a hard cruel world out there at the moment.
There are always people on ebay that havent done their homework looking to sell for over the current new price and sadly there is usually the odd sucker who pays it without bothering to check their "bargain" price

I recently bought a used Godin LGP90 guitar for £230.
I happen to have a suitable tweed case for it which will help,but I am now getting tempted to chop it in for an even nicer 2xP90 guitar.
I would hope to get back what I paid for it, but even though they are still out there new for I believe £595 it will all depend on the market.
Original MSRP was £699!

Stuff is worth what a willing and able buyer (one with money) is prepared to pay.
[/quote]

Disagree not in principal as your reasoning etc is correct, but you've not taken into account actual brand performance in a used market.
Some makes say ibanez can perform badly and there a good brand, where as fender will perform better, neither brand is better than the other.
Like the used phone market look how long apple products hold there value compared to other brands.

The smart play would be to only buy brands that hold there value. Or to just enjoy what you buy and not give a toss to its used price. I honestly think we instrument players as a whole are very good at placing to much importance in used prices. This was mentioned in a very good documentary about effects pedals.

[40hz]

Not very scientific I know, but I always sort of expect most used bass gear to be around half and a bit (5/8th's?). Quite specific I know xD. Down the years IME that's what most stuff goes for (certainly what I've shifted) and IMO, I think that is about right.

Edited November 25, 2015 by 40hz

[martin8708]

I joined basschat in 2010 , I think we were well into the recession by then , ( property prices peaked in sept 2008 ) .
The basschat market was still very vibrant then , with certain members seeming to keep the whole market place afloat single handedly .

I never struggled to sell basses back then , Ok , they were fenders , but they sold in a matter of days / weeks .
I remember any Barefaced cab would last for an hour or two , sold for nearly new prices.

I think stuff still sells , it just takes longer , and you have to work harder at it .
As Karlfer says , good ads , clear / sharp photos , willingness to ship or travel and setting your price at a realistic level .

Everytime I phone Mark at Bassdirect or Rudi at the Fellowship of Acoustics , they always seem very busy , so someone must be buying guitars .

My take on the mega-bucks basses from EU from low post members are they very nice to look at ( window shopping ) , but it must take huge amount of faith in humanity to bank transfer £5k plus to a bank account abroad , and have that agonising wait for a shiny new bass in the post a few days later . But that Carl Thompson 4 looks absolutely stunning , nice to see one in the market place .