How to price a bass guitar?

[TJ1]

Hi

 

I won’t mention the specific model because I  am aware that it could be  seen as a sly for for sale ad.
 

But suffice to say I’ve got quite a rare and sought after bass which I probably need to sell for reasons of financial degeneracy/stupidity.

 

The problem the model does not come for sale very often and second hand prices seem to be all over the place on Reverb, EBay as well as here.

 

I’ve got an pretty firm idea of the minimum I would accept, but let’s say I were to put up for sale on this forum - is it best to ask for a considerably higher price and invite nearest offers( ie Ono).
 

Or alternatively ask for the minimum I need with the proviso of ‘no offers’.

Any advice appreciated

 

It’s difficult to judge myself  as a buyer I find the challenge of getting money off an enjoyable part of the process.

 

Otoh I tend to get put off by sellers who are too flexible about the price- it looks like they were originally trying to scalp buyers or they are desperate to get rid of it. As said - any opinions appreciated however off the wall.

 

Many Thanks

 

 

[uk_lefty]

I would try asking some of the big bass shops what they would pay you for it in cash and what they would want to price it for on a commission sale. Then you might get pleasantly surprised and you can decide whether you sell through them or privately. 

[TJ1]

1 minute ago, uk_lefty said:

I would try asking some of the big bass shops what they would pay you for it in cash and what they would want to price it for on a commission sale. Then you might get pleasantly surprised and you can decide whether you sell through them or privately. 

Thanks - do you have an idea of what % commission these shops usually charge? 

( I am aware of one in Camden Town)

[jezzaboy]

Most charge 20%, I think the bass gallery is 15%?

 

The advantage is they can give you an idea where to price it but the downside is the 20%. But it saves you the hassle of selling it yourself. I had a bass for sale on here that had sod all interest, gave it to Will at Bass Bros and it was gone in a week.

[spacecowboy]

If it’s a bass in the circa 4-8k market shops will lower their commission, I sold a bass for 6.5k and got the commission moved from 20% to 12%.
 

As others have said contact a shop Bass Direct / Bass Bros and they will give you a realistic figure.

[pete.young]

Try asking in here: https://www.basschat.co.uk/forum/121-wotzit-werth/

[jezzaboy]

Just now, pete.young said:

Try asking in here: https://www.basschat.co.uk/forum/121-wotzit-werth/

I think you need to be a supporting member?

[SpondonBassed]

1 minute ago, pete.young said:

Try asking in here: https://www.basschat.co.uk/forum/121-wotzit-werth/

 

Supporting Members only Pete.  It was changed recently to help manage scammers.

[pete.young]

I'm aware that he needs to join the site. That forum has always been members-only. It's the 'Wanted' forum which has recently gone subscription only.

[Reggaebass]

As mentioned above I’d ask will at Bassbros, he’ll give you a good estimate and possibly even sell it for you 

[TJ1]

Thanks again for the replies. I talked to a couple of shops about selling it through them on commission.

 

Although their commission rates seemed reasonable, a possible disadvantage is that they have to take physical po

[TJ1]

Sorry to continue - the shop has to take physical possession of the bass for the entire period starting from when they act as an agent- this might make it difficult for me to market elsewhere like Reverb or here. Although I guess I could point potential buyers to the retailer.

 

The other thing is the bass is in virtual ‘as new’ condition with all the paperwork, so perhaps does’nt actually need the additional stamp of approval/ assurance that a shop could provide.

[Mykesbass]

4 hours ago, TJ1 said:

Sorry to continue - the shop has to take physical possession of the bass for the entire period starting from when they act as an agent- this might make it difficult for me to market elsewhere like Reverb or here. Although I guess I could point potential buyers to the retailer.

 

The other thing is the bass is in virtual ‘as new’ condition with all the paperwork, so perhaps does’nt actually need the additional stamp of approval/ assurance that a shop could provide.

Using a specialist shop gives you:

Their customer base

Their reputation and credibility 

Their market knowledge 

Somewhere easy to view and try your bass

 

These shops are not going to want your bass hanging around for ages, so talk with them, and if they come up with a good price let them have a short period of exclusivity. 

 

If you do advertise it yourself, I read recently that second hand values for 'as new' basses are around 70-80% of the new price (street price not RRP). 

 

Good luck whichever way you choose, and if it is the shop route and you are in London, give Wunjo a try.

[TJ1]

12 hours ago, Mykesbass said:

Using a specialist shop gives you:

Their customer base

Their reputation and credibility 

Their market knowledge 

Somewhere easy to view and try your bass

 

These shops are not going to want your bass hanging around for ages, so talk with them, and if they come up with a good price let them have a short period of exclusivity. 

 

If you do advertise it yourself, I read recently that second hand values for 'as new' basses are around 70-80% of the new price (street price not RRP). 

 

Good luck whichever way you choose, and if it is the shop route and you are in London, give Wunjo a try.

Yup -A time limited period of exclusive selling rights sounds like an excellent idea, not least because it gives them more incentive to push the item within the limited period. And gives me an out if they turn out to be the wrong agent for the instrument.

 

Treating a bass shop like an estate agent might not be seen as being cool with the groove though.

[LukeFRC]

On 06/10/2024 at 11:58, TJ1 said:

 

I’ve got an pretty firm idea of the minimum I would accept, but let’s say I were to put up for sale on this forum - is it best to ask for a considerably higher price and invite nearest offers( ie Ono).
 

Or alternatively ask for the minimum I need with the proviso of ‘no offers’.

Any advice appreciated

Work out what you think it’s worth and stick it up for that - your “minimum price” is irrelevant to everyone but you. I tend to accept and listen to lower offers.
Go low if you just want the cash but don’t be surprised if it turns up on reverb a week later with a 200% mark up! 
that said the great post covid price spike seems to be dying and I would question if some ‘advertised’ prices have bared much relation to sale prices.
 

the other thing you could do, depending what it is is look round on here and reach out to people who have owned or own similar make/model basses and get their view, for instance a while back I was looking at vintage precisions and the advice and expertise of members of this forum was invaluable. 
there tends to be clusters of owners on here of most things

 

[spacecowboy]

I don’t know about anyone else but I’m incredibly intrigued to know what this mystery bass is! 

[TJ1]

10 hours ago, spacecowboy said:

I don’t know about anyone else but I’m incredibly intrigued to know what this mystery bass is! 

It’s a Bongo, otherwise known as ‘the toilet seat bass’, so please don’t get too excited, particularly as it’s only the bog- standard version

[Mykesbass]

30 minutes ago, TJ1 said:

It’s a Bongo

Bass Bros (good reputation) are selling two 20 year old one for £1549 and £1469.  Even taking into account the 20 years difference, that's way short of the 75% ballpark I suggested earlier. But it would put Bass Bros at the top of my list of people to call for a commission sale valuation as they would be able to gauge the level of interest.

Edited October 10 by Mykesbass

[OliverBlackman]

By the number of basses listed and subsequently sold, it does seem at the moment many private sellers are preferring to sell through or to bassbros, even compared to here or eBay.

[TJ1]

1 hour ago, OliverBlackman said:

By the number of basses listed and subsequently sold, it does seem at the moment many private sellers are preferring to sell through or to bassbros, even compared to here or eBay.

There’s certainly an attraction from the point of view of convenience and expert valuation to selling thru a reputable shop.

 

But having been forced to part with some guitars in the past, there’s an emotional satisfaction(over and above price) to putting my ‘babies’ up for adoption to appreciative private individuals, rather selling them to shops/dealers who see them as mere inanimate units.

 

 

[OliverBlackman]

34 minutes ago, TJ1 said:

There’s certainly an attraction from the point of view of convenience and expert valuation to selling thru a reputable shop.

 

But having been forced to part with some guitars in the past, there’s an emotional satisfaction(over and above price) to putting my ‘babies’ up for adoption to appreciative private individuals, rather selling them to shops/dealers who see them as mere inanimate units.

 

 

Yeh I agree but there are also members on here who buy to flip at a higher price or will buy to try and sell on quickly if it’s not for them. I’ve experienced both! 

[alyctes]

7 hours ago, TJ1 said:

It’s a Bongo, otherwise known as ‘the toilet seat bass’, so please don’t get too excited, particularly as it’s only the bog- standard version

I see what you did there

[peteb]

On 06/10/2024 at 12:32, jezzaboy said:

Most charge 20%, I think the bass gallery is 15%?

 

The advantage is they can give you an idea where to price it but the downside is the 20%. But it saves you the hassle of selling it yourself. I had a bass for sale on here that had sod all interest, gave it to Will at Bass Bros and it was gone in a week.

 

Don't disregard going for a commission sale. In addition to reducing the hassle of selling it yourself, a place like Bass Bros (or Bass Direct) will generally achieve a far better price than selling it on Facebook or on here.

 

They will also make sure that you get a realistic price and reduce the chance of you making a costly mistake if you get the selling price wrong. 

 

[prowla]

8 hours ago, TJ1 said:

It’s a Bongo, otherwise known as ‘the toilet seat bass’, so please don’t get too excited, particularly as it’s only the bog- standard version

 

2 hours ago, TJ1 said:

There’s certainly an attraction from the point of view of convenience and expert valuation to selling thru a reputable shop.

 

But having been forced to part with some guitars in the past, there’s an emotional satisfaction(over and above price) to putting my ‘babies’ up for adoption to appreciative private individuals, rather selling them to shops/dealers who see them as mere inanimate units.

 

 

Well, selling a toilet seat could be something of a convenience... 🙂

[Geddys nose]

On 06/10/2024 at 11:58, TJ1 said:

It’s difficult to judge myself  as a buyer I find the challenge of getting money off an enjoyable part of the process.

 

Otoh I tend to get put off by sellers who are too flexible about the price

That’s a oxymoron 😁