Fair selling price

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Fair selling price

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Alonte

Posts: 214
Joined: Dec. 2 2008

Fair selling price

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?

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 29 2010 9:48:01

Pgh_flamenco

Posts: 1506
Joined: Dec. 5 2007
From: Pittsburgh, Pennsylvania

RE: Fair selling price (in reply to Alonte)

It's best to check the completed listings on ebay for this. It depends on supply and demand. A rare guitar can go for more than the original price. Used items usually go for about 50 percent to 30 percent of the original value (which is why I recommend buying used instruments since re-sale value is so poor). The economy is still pretty bad and a lot of items are being listed for unrealistically high prices. This stuff can take a long time to sell--if it sells at all--so be careful what you buy.

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 29 2010 9:59:14

daffey

Posts: 98
Joined: Aug. 20 2008
From: Los Angeles, California

RE: Fair selling price (in reply to Pgh_flamenco)

i would agree and disagree lol!
yes, from now on i will be used, however, 50% off of list....... I have NEVER even heard of luthier built guitar for that cheap..... LOL

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 29 2010 10:33:14

Alonte

Posts: 214
Joined: Dec. 2 2008

RE: Fair selling price (in reply to Alonte)

Ouch! 50% off? That is quite painful no?

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 29 2010 10:40:16

Pgh_flamenco

Posts: 1506
Joined: Dec. 5 2007
From: Pittsburgh, Pennsylvania

RE: Fair selling price (in reply to daffey)

quote:

i would agree and disagree lol!
yes, from now on i will be used, however, 50% off of list....... I have NEVER even heard of luthier built guitar for that cheap..... LOL

I bought quite a few guitars and amps over the past 30 years and lost big money on them when it came time to sell. This is the main reason I promote used stuff--in case you don't like it you can usually get your money back.

I'd hate to be the guy that bought the Conde AF25 for $12,500 and sold it for less than $5,000 last year. Ugh!

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 29 2010 10:44:32

Arash

Posts: 4495
Joined: Aug. 9 2006
From: Iran (living in Germany)

RE: Fair selling price (in reply to Pgh_flamenco)

i agree and disagree too.

if i want to buy something: max. 50%
if i want to sell something: min. 50%

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REPORT THIS POST AS INAPPROPRIATE | Date Mar. 29 2010 10:47:43

Pgh_flamenco

Posts: 1506
Joined: Dec. 5 2007
From: Pittsburgh, Pennsylvania

RE: Fair selling price (in reply to Alonte)

quote:

Ouch! 50% off? That is quite painful no?

Quite painful yes! Waiting long enough for the right buyer is a good idea. I have a Alhambra 7FC which is only worth about $600 used and the new ones are going for over $1300. All I can say is I'm glad I bought it used.

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 29 2010 10:47:48

Pgh_flamenco

Posts: 1506
Joined: Dec. 5 2007
From: Pittsburgh, Pennsylvania

RE: Fair selling price (in reply to Arash)

quote:

i agree and disagree too.

if i want to buy something: max. 50%
if i want to sell something: min. 50%

Yes, BUT...buy 50% used on ebay and sell for the same price locally. That way you don't lose 15% to ebay and shipping.

REPORT THIS POST AS INAPPROPRIATE | Date Mar. 29 2010 10:50:08

Arash

Posts: 4495
Joined: Aug. 9 2006
From: Iran (living in Germany)

RE: Fair selling price (in reply to Alonte)

quote:

ORIGINAL: Alonte

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?

if you have a Reyes Sr., then more than 100% from original shop price

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REPORT THIS POST AS INAPPROPRIATE | Date Mar. 29 2010 10:51:18

a_arnold

Posts: 558
Joined: Jul. 30 2006

RE: Fair selling price (in reply to Pgh_flamenco)

quote:

It's best to check the completed listings on ebay for this.

Unfortunately ebay has a new policy to limit user access to past sale listings older than 6 months. They SAY they are limiting our access as a service to us (!) The "service" they say, is to not confuse us with out-of-date sales info.

Trouble is with some rare items (like guitars by a particular luthier) sell so rarely that we get no information at all. But they figure that guitars made by, say, Jose Ramirez II can be handled the same as lightbulbs and Nike running shoes. I wrote to them, and some underling ended by telling me "Sorry, but its a new policy."

I wonder if it works to their advantage to keep buyers ignorant?

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REPORT THIS POST AS INAPPROPRIATE | Date May 6 2010 17:23:57

buleria74

Posts: 135
Joined: Jan. 23 2010

RE: Fair selling price (in reply to Pgh_flamenco)

quote:

I'd hate to be the guy that bought the Conde AF25 for $12,500 and sold it for less than $5,000 last year. Ugh!

my condolences to you, unbelievable how they trick people buying something
for that price and it's worth maybe 30% of that.

well you have learnt something, don't do it again. I sold a new instrument
yesterday which I got form the Luthier for €2000, sold it for €2500,
I mean I brought it from Granada but it was a great instrument.

good luck and be careful with those $5000

.

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Flamenco no tiene mas que un escuela, transmitir o no transmitir !

REPORT THIS POST AS INAPPROPRIATE | Date May 18 2010 11:29:08

Alonte

Posts: 214
Joined: Dec. 2 2008

RE: Fair selling price (in reply to Alonte)

I have an interesting story. A few weeks ago I was trying to sell a mid level spanish made guitar. I paid more 2k, I was selling for 1500. I was getting frustrated because no takers, so locally I was selling it for 1300! Geez! No takers still! One guy tried to lowball for 1 grand, I almost did it but I backed out.

2 weeks later, I tried to give it another chance. Sell it locally, list it higher. Close to how much I paid for it. Within 2 days it sold! I dunno what lesson I learned here. The general public who doesnt know much will think a more expensive instrument is better so... dont sell out and get too emotional about the sale.

REPORT THIS POST AS INAPPROPRIATE | Date May 18 2010 12:21:08

Escribano

Posts: 6415
Joined: Jul. 6 2003
From: England, living in Italy

RE: Fair selling price (in reply to Alonte)

quote:

dont sell out and get too emotional about the sale.

Folks get way more emotional when they buy, so they are likely to buy high. I find eBay is great for selling, rubbish for buying - the prices are generally too high or else the auction is cancelled. I rest my case.

Make sure the auction ends on a Sunday evening. They are often a bit drunk and have been thinking about it all week. "Work tomorrow - what the hell?"

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REPORT THIS POST AS INAPPROPRIATE | Date May 18 2010 12:34:44

Alonte

Posts: 214
Joined: Dec. 2 2008

RE: Fair selling price (in reply to Alonte)

Wow! Thats quite an amazing tip!!! Honestly I feel so dumb how much money I have lost when I sold and traded my violins. I get too carried away I just wanted to get rid of the instrument or get too wound up about the other instrument I am upgrading to. Will never happen again. The weird stupid thing is... I initially brought a good one because they are future investments... then why oh why oh why I used to be the guy who brought high and sold low.

REPORT THIS POST AS INAPPROPRIATE | Date May 18 2010 12:39:42

Ron.M

Posts: 7051
Joined: Jul. 7 2003
From: Scotland

RE: Fair selling price (in reply to Alonte)

quote:

then why oh why oh why I used to be the guy who brought high and sold low.

I'm even worse Alonte..

Anything I don't use anymore, I just give away for free to someone who has to watch the pennies but who I think would make good use of it.

I've always done that.

Things are just things..and I can't be bothered wheeling and dealing..

So I'm even worse than you!

cheers,

Ron

REPORT THIS POST AS INAPPROPRIATE | Date May 18 2010 12:52:17

Escribano

Posts: 6415
Joined: Jul. 6 2003
From: England, living in Italy

RE: Fair selling price (in reply to a_arnold)

quote:

I wonder if it works to their advantage to keep buyers ignorant?

Yes they do. No reference, no guide... then more emotional bidding. Once the "bargain price" has been passed, a lot of bidders just want it by then and you only need two.

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REPORT THIS POST AS INAPPROPRIATE | Date May 18 2010 12:54:17

Pgh_flamenco

Posts: 1506
Joined: Dec. 5 2007
From: Pittsburgh, Pennsylvania

RE: Fair selling price (in reply to buleria74)

quote:

my condolences to you, unbelievable how they trick people buying something for that price and it's worth maybe 30% of that.

well you have learnt something, don't do it again. I sold a new instrument
yesterday which I got form the Luthier for €2000, sold it for €2500,
I mean I brought it from Granada but it was a great instrument.

I didn't buy it--I watched the person who bought it new list the guitar and end the auction early four or five times before accepting the low offer and taking the loss.

Ebay's always up to something. They're as smart as the casinos that comp winning players because they know the odds are in their favor.

At least end your auction at night when most bidders are up and have access to the net. Pricing is critical--too low and they'll wonder what's wrong with the item, too high and they'll wonder what's wrong with you.

REPORT THIS POST AS INAPPROPRIATE | Date May 18 2010 14:03:48

buleria74

Posts: 135
Joined: Jan. 23 2010

[Deleted]

Post has been moved to the Recycle Bin at May 19 2010 2:37:07

REPORT THIS POST AS INAPPROPRIATE | Date May 18 2010 20:23:31

buleria74

Posts: 135
Joined: Jan. 23 2010

RE: Fair selling price (in reply to Ron.M)

quote:

I'm even worse Alonte..

Anything I don't use anymore, I just give away for free to someone who has to watch the pennies but who I think would make good use of it.

I've always done that.

Things are just things..and I can't be bothered wheeling and dealing..

So I'm even worse than you!

cheers,

Ron

believe me Ron, I know exactly what you are talking about

.

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Flamenco no tiene mas que un escuela, transmitir o no transmitir !

REPORT THIS POST AS INAPPROPRIATE | Date May 18 2010 20:25:43

Arash

Posts: 4495
Joined: Aug. 9 2006
From: Iran (living in Germany)

RE: Fair selling price (in reply to buleria74)

quote:

ORIGINAL: buleria74

believe me Ron, I know exactly what you are talking about .

I don't believe you

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REPORT THIS POST AS INAPPROPRIATE | Date May 19 2010 3:01:31

gj Michelob

Posts: 1531
Joined: Nov. 7 2008
From: New York City/San Francisco

RE: Fair selling price (in reply to Alonte)

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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gj Michelob

REPORT THIS POST AS INAPPROPRIATE | Date May 19 2010 6:02:43

buleria74

Posts: 135
Joined: Jan. 23 2010

RE: Fair selling price (in reply to Arash)

quote:

I don't believe you

you are not Ron, so not important , didn't want you to believe anything.

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Flamenco no tiene mas que un escuela, transmitir o no transmitir !

REPORT THIS POST AS INAPPROPRIATE | Date May 19 2010 12:15:02