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gj Michelob -> RE: Fair selling price (May 19 2010 6:02:43)
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quote:
I have never sold a guitar before and I have one listed right now. What's considered a fair selling price? % from original market price if it is in excellent condition? Is there a standard?
I would think that the 50% off the listed price rule should only apply to products which are readily and vastly available both new and used.
Guitars, particularly if luthier’s made, are subject to other variables.
Main factors to be weighed really are those based on the usual Offer v. Demand market mechanisms:
Availability or Scarcity of product on the market (say, a Conde with Brazilian from the days when it really was Brazilian Rosewood);
Length of waiting list (DeVoe is 3 years and Vazquez Rubio [even a Student Navarro] is 3 months);
Brands which are known to no longer be what they used to…. the “older is better” factor.
Conditions of the instrument (added value of restoration or depreciation based on repaired cracks and damages).
My rule of thumb is that –unless one has no luxury of time and must sell- a used instrument in fairly good conditions should re-sell between 80% and 70% of its price as new. Anything less than that range is an “incentive” to induce a quicker sale, and naturally, urgency never was a helpful counsel when selling your guitar, or your house.
Finally, comparative prior sales may be affected by a variety of subjective factors and must be valued cautiously.
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