The Music Room

I have receipts, I just have to figure out where they are. From now on I'll be more organized. @allenf1963 Here's a list of the gear:

1. Primare Pre32 preamplifier with manual, power cord and remote. 8/10 condition.  Original boxes.

2. Musical Fidelity MM/MC M6 Vinyl phonostage  with manual and power cord. in 8/10 condition. Original boxes.

3. PS Audio PerfectWave Power Plant 5, Condition 7/10 with manual, power cord, remote and original boxes.

4. T+A DAC8 DSD with manual, remote, power cord and original boxes. Condition 8/10

5. Audio Research Reference 75 Tube Amplifier with tubes, power cord and original boxes. Condition 9/10

Always had a great experience they never overstate the condition of their products and give good advice my brother and I have made many transactions with Nick for years fair and Honest cannot say that about to many people in this industry 

I have nothing but good things to say about TMR.  I have sold them several pieces of equipment when I either didn't get any interest here or USAM, or wanted to move the piece because I had another waiting in the wings.  Yes, you will not get what you could selling it yourself, but they always quote what I considered to be a fair price and it is the lowest hassle sale you can imagine.  No flaking, weirdness, etc. and you get instant payment.  Plus, since I have purchased almost all of my equipment used anyway, the difference between what something would actually sell for on here and what they would pay is not a dramatic difference. I would highly recommend them, and especially if you want to move your gear quickly.  Ask them for a quote . . . It can't hurt.

I've tried to sell both ways- here's my conclusion:  TMR is reputable. Used gear wholesale is about 1/4 of retail. They will need to be lower than that if they're tying up their cash and taking risk on someone else's probable problem unit. 

Selling to a HiFi buff is hard. We are a demanding lot and require a LOT of hand holding to get a deal done. After all that time spent (often enjoyable BTW) I've only been able to get about 40% of retail on the best sales and more often 1/3 of retail. 

When all the variables are shaken out I have this conclusion:  Use my old gear as trade-in on new gear to achieve a "better" sale price. Since you don't want to buy more gear you have to ask yourself: "Can I deal with the kind of buyer who will actually pay for my used gear?"  If no;  wholesale it and don't look back. 

As far as the IRS is concerned you bought your gear with after-tax dollars and sold it for less than your basis. This is not an income event. Nor is it deductible.  Your CPA can easily account to the IRS for the PayPal "income" on your 1040. I don't see risk there for you.

Personally, I think all the hyperventilating over the IRS is unnecessary.

I've bought from them once and they seemed very professional. Unless you are selling used gear for gain (then please write a book about how to do that so we all can!), you shouldn't worry about 1099s from Paypal.  They are reporting revenue, not income, and I am assuming you aren't actually making profit from these sales relative to your acquisition price.  

I have had nothing but wonderful experiences with TMR.  I have purchased 5 items from them, each of which was exactly as described, and I sold my tube amplifier to them. One thing to keep in mind is that, if you can happen to find something they have for sale, they will give you much more money for the item you are selling to them if you use the money to trade towards another item they have for sale. For example, in my case, I found a pair of amazing, truly one-of-a-kind speakers on their website and discussed with them what they could give me for my amp if I used the money towards the speakers. They ended up giving me roughly what I could have sold the amp for on my own, plus they covered the shipping of the amp to them, which was NOT cheap, as the amp shipped in its own custom Pelican case. When I received my speakers, they were packed far better than the factory would have done, on a large pallet, carefully wrapped and padded. They packing was so robust, I think if they had fallen off the delivery truck, they probably would have emerged unscathed. All in all, I could not be more pleased with every interaction I have had with TMR over many years.

Chris

FWIW, I sold over 10k in used gear on ebay last year. No tax implications at all...

TMR new employee Day One: "we would suggest you put that item on Craig's list."

I have dealt with them since their early days.  Many and years transactions have gone by.  They are still a 'go to' for reliable used purchases and sales. Also live nearby, so no shipping ever needed.

They are good until they aren't..."we would suggest you offer that on Craig's list." WTF!!!...yeah, that's what I said.

BTW- When the Aurender was working....I thought it was fantastic.

I think TMR is on the up and up. However my experience was awful. I bought an Aurender N 100 which was defective from jump street. At the time they had a 2 week return policy. It was delivered while I was on vacation. By the time I got home I had maybe 6-7 days left. I needed help setting it up, and had connectivity issues.

So by the time I got it up and running it was well past the 2 weeks. I ended up sending it back to Aurender Service at least 5 times. Every time I had a power outage or glitch it wouldn't boot back up. Ari with Aurender was extremely helpful and accommodating , but every time I had to have it serviced it was at least a 3-4 week turn around. They finally totally rebuilt the whole unit. This was clearly the worst audio purchase I ever made.

Also- TMR charges sales tax also. So factor that into their pricing, along with horrible trade in value...Their not an option for me.

Agreed.  I have used them.  Fair, honest, easy to deal with.  If you want to take the work and hassle out of selling used gear, they are a great option.  But their service comes with a significant cost.  If you are looking for maximum value and don't mind the effort to photograph, list, screen, deal with payment and ship, sell yourself. Sometimes the best choice depends on the individual piece of gear.

TMR is a class A outfit that would offer you a fair price for selling a used car to a used car dealer....don't go in expecting to get anywhere close to what you want for the sale from an ad.  I have gotten quotes from them and Paragon and they were more fair.

Since your concern is the IRS, I will also comment on that.  My understanding has been that as long as we use F&F or Zelle then we are immune to getting a 1099.  This is how I have operated the past couple years with several transactions buying and selling.  

TMR is a dealer for a number of premium brands. Anyone ever bought new and gotten a discount from them?

TMR does a good job. Very nice people and easy to talk to

I've bought NEW from TMR and they are a good company especially if you are in the market for used gear. I have some gear to sell but with them charging a 35% consignment fee there is no way I will sell that low. To each his own, I guess.

Great company, I have dealt with them on buying and selling equipment. Super smooth transactions each time. 

TMR pays by your choice of check, or Paypal - no fee Friends/Famiy...

@mewsickbuff  -- What gear are you selling?  I did not see that listed.

What form of payment does TMR make when buying your gear?

I've bought from them numerous times, but never sold to them. I use a detailed spreadsheet to track all my purchases and sales for possible IRS audit some day.

Make no mistake - you are paying for convenience and more instant gratification selling your gear to TMR Audio. This is an option some prefer to selling it yourself over a longer period of time in most cases. They are not going to pay you retail for your gear, and making a profit is how they can afford to receive, test, market, list and re-sell your gear, along with them paying for a large staff to be able to offer these types of services to the general public.

In return, they take it off your hands relatively quickly. and you are off to shopping for your next piece of gear or thinning down your collection, whatever the case.

Its also a great service for those who enjoy buying gear from TMR. Ive bought and sold gear to TMR several times, and 95% of the transactions have been seamless. They seem to have a solid business strategy, continue to stay in business, and still growing. Can’t complain about that for an industry that was kinda struggling five years ago. Its also fun to just browse their site once in a while. Enjoy!

@geof3 

Well said and correct. The market will find a way to place a value on items that you want to buy or sell (whether you think it's fair it or not). :-)

Most used items will net you 30% to 50% of retail. Some less than 30% and not many more than 50%.

That is the item value lost by the enjoyment gained from being the first person to open the box.

I have used TMR many times both to buy and sell.

If they give you a cash offer the amount will make sure they can end up with a profit for the sale. For very new gear this might be the best choice.

Also as stated above you can consign to them and you will (possibly) get a little more money for your gear.

I have actually done better just consigning to them but as stated you will have to be patient and not need the money right away.

I give them 10 out of 10 for everything they do and how professional every aspect of the selling process is handled.

@passfan70 

All you have to do is find the original cost to you and give that receipt to your tax preparer. As long as it is more than your proceeds from the sale it is not considered income. But also most likelt not a deduction for the loss either. Thats why they call it a hobby.

I use TMR all the time both buying and selling. While one could loosely argue you might make a bit more selling on Agon or USAM, when you consider ALL the hassle is taken on by TMR in a sale, it becomes much more with the consignment fees they charge. Selling these days is a PITA. Between PayPal’s new policies both effecting sellers and buyers, shipping issues, dishonest people etc. it make the whole selling game not very much fun. I’ve been VERY fortunate that I’ve never had any significant issues as a seller with other members, minor shipping issues and PayPal’s new hold your money policies I’ve had good success. Having said that, for bigger items, they always go through TMR now. Highly recommend 

TMR is a very safe and reliable company to deal with. Much easier and less risky than buying or selling direct with end users. Transacting with a local user usually helps make things easier and more cost effective, but TMR is a good go to in cases where you want the other guy to do all the work and you are willing to pay a reasonable fee for that service.

I like TMR and have purchased new gear from them but the prices they give you for your gear seem really low. I will sell privately first, and they would be a last resort for me.

I have found TMR to be very reasonable, trustworthy, easy, and helpful to deal with.

Re the IRS, PayPal and/or selling your gear - remember - you will only have to pax tax if there is a gain on the sale which is now another reason to have kept your receipts for purchase.

Since most gear is sold at a loss fm when we purchased, it's really no big deal and you can always argue that you bought new at retail if you don't have the receipts 

I trust TMR. But the prices they offered me for the gear I wanted to sell was SO far below what I could make privately, that I have gone the private route so far. FWIW.

Looks like payments via Zelle require a lot of trust because there's no buyer recourse if things go sideways. Probably not much recourse for the seller either. And Stripe declares you're a business (which I'm not). Maybe I'll dig through my records and find receipts to the items I want to sell. That way if IRS wants me to itemize, I can show I either incurred a loss, or the profit was quite small. If I can't find a receipt then I'll see what TMR will offer.

I have worked extensively with TMR. Buying selling trading and consignment.  It really helps when they have something that you want and you get it for a bargin. It helps ease the blow of the low offer you get for selling.  Ir helps to live about 30 minutes away.  I like dealing with TMR the staff is great and returns are easy.

You are trading receiving less $s than if you sell a piece of equipment yourself for not having the potential nightmares that can occur if you sell yourself and the equipment is damaged in route or the buyer is a rip off artist.

+1 for another happy TMR customer here also

I’ve dealt with TMR on 3 occasions and they were great to deal with.   One was a trade towards a sale , a killer close out on a great integrated amp and an accessory.  All great transactions 

great people; excellent experience buying and selling.  they will take trade on new, providing they have access to what you're interested in.  they represent the best spirit behind our crazy interest in audio.

I’m going to talk to my tax guy and see if there is a loophole where you can one can write it off as a business expense or some other write off…

You will not get for like used. Even 50% on average maybe 40% of its cost and you 

pay the. Shipping most of the times with TMR.

I have traded/upgraded for preowned four times with TMR - headphones, phono preamp, server, and power conditioner.  All good experiences.  You will get less than attempting to sell yourself.  But you will not need to list and deal with the public.  You will pay more than buying directly from an independent.  But TMR certifies the units operation, provide accurate descriptions of cosmetics, package well, and ship on time.   You do not have to deal with sellers subjective opinion on the condition of their unit or scams.   TMR offers a return policy - sort of a guarantee. Consider the lower sale and higher purchase price over independent public sale a service charge. I am very happy with my 4 transacions. 

Thanks all, for your input. I guess I'll inquire and see what they propose.

I have successfully sold several items to TMR.   Each transaction was easy and quick.   The lower price that they offer is well worth the lower hassle of selling the items myself online.   They even handle the shipping and once they sent a logistics company to palletize the shipment.  Highly recommended.

I have also seen an item that I have sold to TMR on their website and they perfectly described the item.  Each dent, smudge and scritch was pictured clearly.  Again highly recommended.

They offer rather low on gear you want to sell. I sell on my own. 

I have bought a few things from them and returned 1 of them. That was useful since I hated the component.

My experience buying and selling with them has always been positive.... 

Very pleased with my transaction with them.  I sold them my Rogue Sphinx V3 and bought a used Denafrips Terminator II. Very friendly to deal with and I felt the prices on both sides of the transaction were fair.

I've bought from and sold to TMR in last few years. They have always been wonderful and efficient to deal with. As has been said, no hassle and no time wasted. I could have sold my old speakers (PSB Imagine T2's) for more and possibly my Bel Canto 500m monoblocs, but I would never know how long it would take, what the buyer would need or do, and even what my own shipping costs would be. TMR has their own deal with FedEx. TMR worked well for me.   The stuff I bought from them was packed very well, received quickly, and worked perfectly out of the box with no issues to date.

Unused gear…funny..  I usually buy my unused gear from a dealer.  I buy the gear with after tax money.