This is all true, but...so exhausting! I'd be happier in a no-haggle society but we all do what we got to do, to get our mitts on more guits.I don't use EBay anymore but one nice feature of a standard listing (at least how they used to do it) is you actually have your lowest price as a floor, which is secret, but then it goes out for bid. And then you wait to see who wins as the highest bidder. You sell it for a number you were willing to accept, and they buy it for a number they were willing to offer. The listing and bidding process automatically creates competition, and the market determines the final strike price.
If I'm using Craigslist, or selling my house, or whatever, as a seller I'm basically trying to create the same scenario-- get ideally at least a handful of buyers and put them in competition with one another so I get a good final price.
If I'm on the other side-- the buyer-- I try to cut out the competition by giving a competitive offer and saying let's do the deal, now, at this price, and you don't have to hassle with other buyers or deal with this anymore. I will give you the $$ now, no flaking, and you can have this whole process over with, and I'm sure saving you more time and stopping the headaches rom dealing with flakes is worth something to you.
If a buyer does the same thing to me-- I'm OK with that. Make me an offer that's real and allows me to have this over and done with, and I'm all ears. I'd love to get this done right now....but I can't go too low, either. I might even say a number. Let's say it's listed for $300. "I tell you what. I think $300 is a great price, but if you give me $270 cash right now, and that's you saving 10% and me saving the hassle of dealing with other buyers that might be flakes." They might come back with $250 and I might take that. But no way am I going to reveal my true bottom price, just as I wouldn't do that on EBay....
New prices have very little to do with the used market price. I understand why some people use it as a rationale, but it's not the right metric.
There are really only 2 things that count: recent sales of comparable items and comparable items currently for sale. Fortunately for music gear, ebay and Reverb give us good info on what items have been selling for. Apply some fudge factor for condition. If there are upgrades, add about 50% of the cost of the upgrade.
Take a DRRI for example. New price is $1500 for the standard one. 80% of that is $1200. Their price guide shows average recent sales right around $800-850, which is more like 55% of the new price. https://reverb.com/p/fender-65-reissue-deluxe-reverb-22-watt-1x12-guitar-combo#price-guide
There are a ton of them on the market between roughly $750 and $950: https://reverb.com/p/fender-65-reissue-deluxe-reverb-22-watt-1x12-guitar-combo?canonicalFinish=Black
If you think you're getting $1200 (80%) for a used one, I think you've badly overestimated the market. If I were selling one in very good condition, I'd probably price it around $800-$850, and wouldn't move much from my asking price for maybe a month. I'd clean it up well and post it with good pictures and lots of detail, whatever it takes to make my amp (and me as a seller) more attractive to a buyer than someone else's amp.
If I needed to move it fast, I'd price it around $700-750 and wouldn't budge. It's already a deal at that price, and I know it. Anyone who's spent 30 seconds shopping for one knows it too.
And if someone offered me $500, my response would be "For you: $900."
The best reply is "what's your highest offer?"You should know what the lowest price you'll accept is before you list it. If you're asking $750 for an item, but will take $650, I don't understand the consternation over just telling them your lowest price. Some people just don't like to negotiate.
I'm helping a buddy sell off some of his surplus gear, and I am both amused and annoyed by some of the offers. I've been careful about my asking prices, finding a good compromise between recent comparable sales and being competitive with other items currently for sale. So far, I think my pricing has been good. Most items have sold quickly, but not too quickly, and either at asking price or close to it.
The haggling strategy that always bothers me is the question "What's your best price?" Does this work for people? Every time I hear it, my reactions include "Why would I bid against myself?" and "Really? That's all the haggling skill you have?" (What can I say? I can be a bit of a hardass sometimes ) I usually just respond with my asking price, and they are rarely heard from again.
I find the "best price" ask even more annoying than stupid lowball bids. (One guy offered $150 on a vintage lap steel that I'm asking $650 for.) I sometimes wonder if they have any idea what a fair price is. I often price so there is a little room to haggle, but that margin is not the 20 or 30% that a lot of the lowballers ask for.
This is a good approach. Some sellers get very easily pissed off by buyers. But do you want to sell your thing? Sometimes annoying buyers actually come through and buy it.I usually price things about 10% above what I really want to get out of an item. If someone asks what my bottom dollar is I tell them it is what is in the ad, but if they will bring cash today they can take 10% off.
Usually this gets us going, I get what I want and the seller gets a little bit better deal which is what he wants.