Around here, the prices on guitars has not declined, but tube amps sure have. I have seen a couple of Mesa and old Twins drop over $300 in a week. If that trend continues, I might have to scoop something up and keep my fingers crossed that I don't end up needing to sell it later.
I think that word "recession" has spurred the sellers impulse in many areas. If you are young enough to not live through such an era, you might be a little freaked out right now.
My suggestion is to make unreasonably low offers. What I've found is that more often than not, they'll either be accepted or outright, or they'll be greeted with reasonable counter-offers.On EBay there are a couple of MIM Strats and Jazzmasters that are way over priced. I'm watching to see what direction they take. Generally speaking I don't see any real trends at the moment.
I wonder if we've reached a point in the market where people who picked up the instrument for the first time during the pandemic (and bought up all the new inventory) are now letting go of their stuff and flooding the used market.