Is anyone else interested in determining a fair value for used high end equipment? I understand we all try to sell and buy our equipment at the best price, but where to start? I recently listed a item for sale and set a price that I thought was competitive based on very limited past sale information. I did receive an offer that was $500 less than asking price. Was I too high or was the offer too low. It would be helpful if we could see what others sold their equipment for and the condition of the equipment. I want to sell my equipment, but I don't want to give it away. Any thoughts on this matter?
What jperry said.... Also you can search here (and on AudioAsylum or USAudioMart) by brand and/or by type of equipment to see the asking price for similar gear, which can help with your pricing strategy. However, keep in mind the asking price is not necessarily an accurate indicator of what people are selling for. Also, "fair value" is really arbitrary and frankly doesn’t mean much if there are no buyers willing to pay the "fair value" price you are asking. Sometimes, it just takes patience and that "one best buyer" to come along and want the gear you are selling.
There is a lot more that enters into successful selling here, such as your willingness to hang on if there are no ready buyers vs. how bad you need the cash, condition and owner history of the item, the time of year, whether the item is likely to hold its value (i.e., many amplifiers), whether it is over the hill and sliding down the depreciating side of the curve (i.e., digital gear), or whether it was a flash-in-the pan item that has subsequently seen a lot of competition (i.e., USB doo-dads for 5V and/or galvanic isolation, certain types of footers, and other tweeks). The manufacturer can make a big difference too. If many units of the item were sold (i.e., think Ayre gear) there are likely to be many other sellers so then the item is more like a commodity and the condition and price will be more likely to govern the sale. If the manufacturer has a propensity for constantly releasing new models, their gear may not hold its value simply because people will anticipate a short life-span before the next new thing comes along (Lamm would be the opposite of this).
Finally, your willingness to accept risk enters the picture with respect to whether you want to sell through a website with no feedback criteria, and whether you are comfortable selling to an unknown buyer with no feedback. Audiogon offers the ability to at least observe the buyer’s buying/selling history, whether they have negative feedback (and why), and how long they have been around. As the seller, you can choose who you sell to (although you should clearly define that in your advertisement). As one example, I require higher standards for my buyers (i.e., no newbies, no negative feedback, must have positive feedback, no proxies, no sales out of the USA) when I am selling big-ticket items than when I am selling cables. Whether you are willing to sell overseas or not is another issue - I have been successful doing this but there are usually fees, it takes longer, and if something goes wrong it is much harder to rectify. Finally, if there is one thing I recommend it is to over-pack and, for big items strap them to a pallet and ship freight since everybody loses if there is shipping damage.
@elf1 I've run into similar experience... A few things. I suspect the economy has affected even many of the mighty audiophiles. Getting someone to pay thousands rather than hundreds is tough. I have a pre for sale now. For what it is, It is offered at a fabulous price and I am already losing a few hundred dollars from what I paid for it just months ago. In this case, my assumption is that it isn't one of the Big Brand names, so being less known is not getting the looks of the big brands, but it is a fabulous product and I have no takers. Lastly, there are a select number of people interested in a narrow product category. I suspect that our audiophile community is aging and shrinking. Good Luck Brother, Tim
I do that daily and as a result of such endeavors, I'm not offended, frustrated or worried about low offers. All I do is agree or disagree. If you reveal component you want to sell, I'll throw few cents...
I guess I should have been clearer with my question. I am looking to sell a tube preamp that can be considered vintage. Needless to say it is difficult to find many of these AR SP6 preamps for sale. If Audiogon, US audio mart, ebay, etc. would provide the actual sale price would be helpful. I understand that vintage equipment to a collector could sell for a different price than someone who wants to use the equipment. I am sure all members would appreciate what other items sell for. To answer Yogiboy, I have the preamp listed on US Audio.
It seems to have been a buyers market here for some time now. I’ve sold a number of things in past year or so and received a reality check. As with all commerce, something being sold is worth only what another will pay.
I listed preamp for $1300 as it is a B model. The offer was $500 less than asking price. I am willing to reduce the price if it is a reasonable offer. Thanks for all the advice.
People just aren't spending on audio in general. I just sold a pair of Revel bookshelves... I got about $100 less than they were selling on eBay and other sites. Given that it was a local, cash sale with no shipping involved , I'd say we were both happy.
The only thing that keeps an item from selling in any economy is that the price is too high for the market conditions. That could be from too few buyers, an off brand, an item on the back-side of its life span or that it's a buggy whip for sale. The biggest problem is the initial mark-up on audio gear when new. The first buyer, if he/she doesn't keep that item, typically loses 1/3 to 1/2 of what they paid in a year... sometimes less time than that. I buy all top shelf equipment (readily recognized brand names), usually demo or single owner and typically pay about 40% of the suggested retail when i get it. So, when I go to sell it, the downside is hundreds, not thousands. But, there are plenty of folks who buy a preamp or amp for $10,000 and don't recognize it's worth about $7,000 on the second day they own it (particularly when warranty is not transferable), and it goes down from there. Please tell me honestly how many of you have purchased used items on a regular basis and have made substantial profits on them, or even broke even on a regular basis? This is a spendy hobby and making the right choice the first time, and holding on to your gear is the least expensive way to play in this arena--at least I have found it to be that way.
Without prejudice to its noble intent, this post is functionally elusive , rather useless IMO , for numerous reasons. The key one is the arbitrary and fluid pricepoint peg that is totally variable and dependent in lockstep with the economy.
Simply put:
-- in economic "good times", resale prices are comparatively "generous" and arguably inflated as buyers ride the "Good Times" wave;
-- conversely in economic "poor recessionary" downturns, resale FMV prices are dramatically reduced as buyers toss around nickels like they are manhole covers.
elf1, you have been lowballed. The 6b goes between $1000 and $1100 normally.
Lots of 6 series ARC preamps sold, and an active used market. Audiogon's Bluebook lists them all, and eBay sales, Audio Mart, and other sites tend to agree with the values posted there.
This series goes approximately as follows: 6, 6a - $900-950; 6b - $1100-1200; 6c a bit lower, and the all-tube 8 around $1300-1500.
One of the lucky transactions that I actually made money on. This is the exception to the rule.
I just sold a pre-owned, discontinued mint SACD player for more than list because the buyer, who is very happy, has a large collection of HDCDs. At first he asked a ton of questions but then I realized he was serious.
(The new models won’t play them. Does anyone know of current production model that will play HDCDs?)
There are always lowballs out there but some folks stick to an unreasonable price. And there is fashion to contend with. I wonder if the prices of AJ Conti and Ayre equipment will go down drastically since the eponymous founder has unfortunately passed away?
While the A’gon Bluebook is a fairly valid reference point for determining what is a “fair” price to sell something at, that it doesn’t offer an insight as to the item’s condition at time of sale leaves a pretty wide degree of latitude for making offers. Without that to take into account, relying upon a seller’s personal evaluation of an item’s operational and/or physical condition is debatable and as justified a starting point for negotiating as any.
I do research prospective purchases from fellow members whether they be individuals or retailers. I use the averaged value as a starting point - after all there is no weighted average for 7/10, 8/10, mint, etc. I also deal exclusively with fellow members who, like myself, have 100% positive feedback. That goes a long way toward determining what I may offer.
We all want to fetch as much as possible when we sell something here - human na’cha! I just purchased a Modwright KWI-200 integrated here at the seller’s asking price without negotiating because a.) the seller had 100% positive feedback b.) because I had been reading a lot of excellent opinions on Modwright in general c.) because the A’gon Bluebook average was spot-on
The seller did not describe the item as “mint” but it certainly was. Impossible to discern from new.
A little research goes quite a long way into having pleasurable transactions here
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