I don't understand used prices in the current market...

TwangerWannabe

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The used market is bananas! Be it Reverb, Craigslist, etc., people are asking insane prices for their used gear. In many cases near or slightly below retail and in some cases above retail! I'll send the seller a message with a very reasonable offer and it gets denied, but the item remains for sale weeks, sometimes months later still unsold. I'll reply and tell them if they reconsider my offer to contact me, but 9 times out of 10 nothing, and the guitar still sits there listed.

Sure, there are deals to be had still if you're patient and are int he right place at the right time. I recently picked up a mint Fender Vintage Hot Rod 50's Strat for $900, but for the most part I think most sellers think they have something special or valuable, when in reality they don't, and I'm have better luck just negotiating with a retailer.

I just picked up a brand new Real McCoy RMC4 wah pedal for a couple bucks more than what peopel are selling them for used on Reverb. I've bought two new acoustics recently and paid less for them new than people are asking for them used, which makes no sense to me. One of those new guitars was 27% off retail with no tax and free shipping and came out to be quite a bit less than what others are listing the same guitar for used on Reverb.

I get the whole supply chain issue, but you can still get guitars, and in many cases it's pretty easy to get at least 15% off retail, but I think many don't know that, pay full retail plus tax and then think they can sell it for $200 less than what they paid.

I guess everyone is trying to capitalize on inflation and the supply chain problems, but most of the instruments people have up for sale don't seem to be selling.

This was just a rant and my observations on what I've seen happened in the used market for a while now.
 
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nojazzhere

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The used market is bananas! Be it Reverb, Craigslist, etc., people are asking insane prices for their used gear. In many cases near or slightly below retail and in some cases above retail! I'll send the seller a message with a very reasonable offer and it gets denied, but the item remains for sale weeks, sometimes months later still unsold. I'll reply and tell them if they reconsider my offer to contact me, but 9 times out of 10 nothing, and the guitar still sits there listed.

Sure, there are deals to be had still if you're patient and are int he right place at the right time. I recently picked up a mint Fender Vintage Hot Rod 50's Strat for $900, but for the most part I think most sellers think they have something special or valuable, when in reality they don't, and I'm have better luck just negotiating with a retailer.

I just picked up a brand new Real McCoy RMC4 wah pedal for a couple bucks more than what peopel are selling them for used on Reverb. I've bought two new acoustics recently and paid less for them new than people are asking for them used, which makes no sense to me. One of those new guitars was 27% off retail with no tax and free shipping and came out to be quite a bit less than what others are listing the same guitar for used on Reverb.

I get the whole supply chain issue, but you can still get guitars, and in many cases it's pretty easy to get at least 15% off retail, but I think many don't know that, pay full retail plus tax and then think they can sell it for $200 less than what they paid.

I guess everyone is trying to capitalize on inflation and the supply chain problems, but most of the instruments people have up for sale don't seem to be selling.

This was just a rant and my observations on what I've seen happened in the used market for a while now.
One example......on our CraigsList there's a Fishman Mini-Charge (battery acoustic amp) that's listed at $450.....said to be $150 or so off. Well, that may be off MSP, but they can be found all day brand new for $499.99. This is a slightly older model, with visible scuffs on vinyl and other signs of use. Oh....and the ad states "Price Firm". I suppose it's everyone's right to be delusional, and try to get an unrealistic price, so I'm not "angry", but neither am I "buying".
I don't often visit CraigsList much anymore, but when I do now, I recognize items I remember from years ago......it's like Memory Lane. ;)
 

MarkieMark

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Not really a new thing IMO, just maybe more frequent?
Maybe its partly a "gig economy" thing.

But its the same in public sales, pawn shops, thrift stores, what have you.
I concluded a long time ago as to the "used market" many arent really motivated to sell.

It leads me to think there are two possible explanations:
1- They dont really want to sell badly, but will if someone is willing to pay too much.
2- They really dont want to sell but have listed it to prove to someone in their life they are trying to.

And then there are the ones that are either targeting the uninformed, or the seller themselves are uninformed.
"Vintage Squire Affinity" anyone?

But yes, appropriately priced used deals, or anything resembling a "bargain" has become the exception everywhere I guess.
 

brookdalebill

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I have noticed the phenomenon too.
I don’t understand it, but I believe sellers are indeed asking near-new prices.
Though new products are slow in coming from major manufacturers, it should not be a license to gouge.
Used stuff is not selling at the crazy prices.
Buyers are not paying the prices.
Hopefully things will level out soon.
 

CX Hunter

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A lot of used equipment was flying out the door during the worst months of “the plague”. Same kind of mania that fueled the real estate frenzy where houses in the country, away from big cities were being snatched up at 15 - 20% over market value. Now that that’s all winding down, and people know it’s not the end of the world, they’re calming down and buying more sensibly. There will always be clowns who try to sell used stuff for a few dollars less than whatever inflated price they paid for it. Other than guitar stuff, I also buy and sell (not as a biz) motorcycles and there’s always some doofus trying to sell a 10-year-old Honda for $200.00 less than he paid for it, and more often than you’d think, there’ll be some guy who is obsessed with that bike for whatever reason willing to pay a premium price.

I have a 3-year old Ebony black Les Paul Classic in showroom condition up for sale online, and I get idiots offering me fifteen hundred or sixteen fifty for it. It’s a perfect guitar that just ain’t getting used. But before I sell it for $700.00 off the original buying price, I’ll donate it to the local highschool music department and take it off my taxes as a charitable donation.
 

Toto'sDad

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Prices of almost anything you can name are up in California. I saw a Ford pickup with 279,000 miles on it, that was priced at 25,000 dollars on Offerup the other day. It was fairly late model, but with that many miles, you ain't going too far in it before you spend a ton of money on it. I've known at least two people who have sold their pickups back to a dealer. My brother-in-law bought a fancy new Ford F-150, drove it a year, and sold it back to the dealer for the same price he paid of it. It's insane.

Somehow this seems to be a common theme no matter where you go. No matter what figure people name on HGTV whether their looking to rent or buy, it not going to be enough to get what they want. I saw some people moving to Australia looking to rent for around $5500 a month, the agent said, well you know the market it so limited, but we'll see what we can do.

Also, I constantly see people exclaiming we got a wonderful deal, we went in high and got our new home for only $125,000 over asking! Whuuuuttt?
 

cometazzi

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I wonder how much of it is also the people who never played guitar, but always wanted to. The Plague gave them an excuse to buy some gear starting in 2020, and now they're trying to sell the gear and don't realize that the stuff depreciates like it does. "I mean, I paid $1500 for this, and it's barely a couple years old..." It doesn't help that they look around and everyone else is pricing their 2-year old guitar at retail price also.

Some of it also is just people trying to gouge because they can.
 

Killing Floor

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Exact same item. Used is $33 more than new. New ships free, used ships for a fee.
People are funny.
1648306501645.jpeg
 

Jakedog

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Yeah, folks are listing way high, but nobody is buying. Nobody. Every deal I’ve done lately has been a trade. I’ve had stuff listed for weeks and weeks at very fair prices, and have been getting offers for half or less what I listed it for.

I have a practically brand new ‘68 CDR amp that I listed yesterday for $900. $500 off new price. It’s mint. That’s fair. I’ve gotten three offers so far. All three were for less than half of that.

It’s cool. I’ll get a fair price. Or I’ll just keep it. It looks cool sitting in my gear pile downstairs.
 

SixStringSlinger

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It's interesting. We all thought we'd be knee-deep in barely used gear offloaded for cheap by pandemic-era dilettantes by now, but that attitude seems to have been shortsighted/overly simple.

Lots of stuff is still unavailable/subject to long waits due to various supply line-related issues, which means that if a seller has something you can't easily find through a retailer, they stand a better chance at getting a higher price for it than if you could pick up a brand new one with warranty at Guitar Center today.

Also, those same amateurs and newbies we want to take advantage of for dumping a temporary hobby are also probably amateurs and newbies at selling the stuff, so they're not going to be as "accurate" in their asking prices, in their receptiveness to offers, or in their reactions to their high-priced stuff not moving. It's a whole new generation of "I know what I have" people who really only know what they paid for it, and who don't know that they paid for it motivates their asking price but means jack to a buyer.

For my own part (speaking in general and not of current times), when I make an offer I try to back it up, especially if my offer involves more than just shaving a few bucks off the top. I'll research selling (not asking) prices on eBay and Reverb. If a seller is ignorant of the reality of what they're trying to tell it will make my offer appear legitimate and not like an insulting low-ball. And if the seller does know what they're doing and they're just trying to filter out low-ballers it shows that I'm not just throwing numbers out there.

Aside from that, I'll also throw in little incentives like letting them keep a case or gig bag so they can sell it separately, offer to meet closer to them than to me so they don't have to go out of their way, and if I make a serious offer make sure I'm ready to go with cash in hand the moment they accept.

Of course, the final prices tends to end up somewhere between their ask and my offer, which is just how this sort of thing goes most of the time. And some people will still turn you down no matter how reasonable you are. In those cases I find it best to encourage them to keep my number in case they change their minds, but then I forget about it on my end and keep looking.
 




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