I’ll leave that one to be caught by the wicket keeper.
If it's Kamran Akmal, then I'm in good hands. 😄
Used gear prices and the state of the hobby.
I am always on the look-out for quality used gear, especially CD/SACD players.
It seems that lately (especially), I am seeing a lot of used gear come up at (what I consider to be) ridiculous prices. I've gone through enough CD players that I sort of know what they can be had for.
I am fully aware that the market will drive pricing, but some of these prices are insane.
Asking 75% of MSRP for a player that's more than 10 years old isn't going to happen, at least in my world.
I see the same ads come up, over and over, which tells me that these things aren't selling. In some cases, the asking prices are absolutely ridiculous.
Maybe the dealers/whomever are underwater on their product, but in case anyone hasn't noticed, the economy is starting to dive.
I'm not ranting, just stating that perhaps your stuff isn't selling because you're overpriced (in some cases by several hundreds to thousands of dollars!).
Other no-no's as far as I'm concerned:
No remote. Buy one THEN put the unit up for sale. In most cases, I will not consider a piece of equipment without an original (and in good condition) remote control.
"Rare". Sure it is. If it's so rare, well, that makes me wonder WHY it's so rare, now doesn't it?
"Giant Killer". Un-huh. Sure.
"Mostly Working". Well, get it repaired, and make it "totally working". THEN offer it for sale.
I view used gear like cars. When you drive it off the lot, well, you just lost 10% of the value. And it's all downhill from there.
I just wonder if anyone else had noticed this, or if I am just turning into an old man yelling at clouds?
If it's not a buyer's market at the moment, it will be shortly.
Yes, that is actually very much caught by asymmetric information. The Lemons thing was in part based on the market for used cars.
I actually don’t know the import of that multi-faceted statement ending with a preposition, but I could speculate that "it" means information. I’ll leave that one to be caught by the wicket keeper. |
@noske , I'm talking about the intentional misuse of information and not the natural tendency to hold different views due to how we've come to gather it. All the best, |
I am in disagreement with you - this has been a feature of civilization and human interaction since time dot and without this there would be just dust like the dark side of the moon. |
@noske , Asymmetric information... Sounds like what's behind a lot of societies woes. As for economics, I'd venture to say that a lot of information is intentionally left out to come to the conclusions desired by those with an agenda unrelated to economics. All the best, |
Without knowing more, I'd humbly suggest that perhaps 6moons did not have sufficient information, and perhaps some of the bidders had superior information. Or not - the other way around? There is a great deal of economic theory devoted to the study of asymmetric information. |
Online selling has turned every seller into a marketing firm from real estate. They are no longer just selling their product but “selling” their items. Like everyone there is a give me a price I can’t refuse. They are not serious sellers as in getting ride of equipment that they no longer use. Then we also have the hoarders who are being hounded by a wife so they agree to sell some but only at their price. Look at antique collectors a piece of junk that is 100 years old is not an antique of collectible it is just a 100 year old piece of junk. |
Fair is subjective. And something is worth what someone else is willing to pay. I sold a McIntosh C2600 for more than I bought it for as a demo after using it for a year. The buyer bought a preamp at a price the were willing to pay and I gave them a good piece of equipment. I sold it via an auction and there were 5 bidders. |
Despite much pseudo-economics and handwaving and yelling at clouds on this thread, yes, that is a gem. |
Greetings all. Haven’t commented in awhile. Busy with remodel of house and new other new toys. I too have noticed a significant rise in prices of goods listed here. My thoughts are that listers are trying to get the most out of whatever they have for sale. Basic economics. However, if you jack up the price it probably won’t sell. I know I won’t buy. I love the comparison with used cars and watches. As a collector of both , I have noted a tremendous rise in the prices of both. Two examples I saw recently are $15,000 for a rusted out, rattle can painted, no interior 1970 vw bug. Second a 5 year old Rolex gmt with no box or papers for $20,000( probably stolen). I won’t be buying them and I don’t think any reasonable person will. It’s just what the lister thinks they are worth. |
A growing economy with full employment where inflation is reducing peoples’ real income level is not the same thing as an economic collapse. Restaurant prices are going up like gasoline but people are eating out in droves. What you really ought to look at is not what people asking for gear but what they’re paying for it. If people aren’t getting the prices they think they’re going to get they have the option of leaving it in the closet. Recent sold listings for the Oppo 205 on eBay seem to range from $2500 to $3500, which is not surprising for something that’s perceived by its cult as a classic. If I were selling a piece of used gear I’d check what the item is going for and price mine a little bit lower. What gets me are these booksellers who act like a book becomes a priceless collector’s item the minute it goes out of print. My personal policy on auctions has always been to decide how much you are willing to pay for something and bid that. |
I agree, asking prices are absurd - by private sellers and the two most egregious online sellers out there- commonly asking 75% of list price or more on equipment that years old. The asking prices strongly suggest there are people buying at those prices; Just like they're buying 20 yr old average watches worth $1500 for $5000 and just like the "more money than brains" crowd on Bring A Trailer are buying 20 year old, beat to snot M5's for 45k when they're worth 25k. All things will pass, especially during a recession. |
@bigtwin 50% off msrp is a fair starting point for a one year old piece of gear. why? Because often product can be bought at a discount from MSRP- in the ten to twenty percent off range. So, fifty percent off for used is really not enough of a discount to get someone to buy used. The other reason is that if someone expects me to pay 20-30% off of list I'll just buy it new, know it's history and get a full warranty. |
I sometimes will offer a 30-90 warranty on my used gear but I do require the option to repair the unit first and I do not pay for the shipping to and from costs if it ever comes to that. You should pay what you want to for anything new or used so it does not matter what the asking price is. Now for the rest of you , I have a bridge for sale, slightly used but in overall pretty good shape. Google the Brooklyn Bridge for condition. Happy Listening. |
So far, I haven't been burned by overpriced used gear. The one case where I felt I paid too much is in the case of the Oppo 205 Universal disc player. When it first came out, I seem to recall it was listed at about $1,200. I opted for the less expensive 203. When Oppo sadly ceased making digital gear, the price of the 205 when up about 3X its original cost. Supply and demand I guess. I recently decided I wanted a 205 and purchased a upgraded one for $3,400 on Audiomart US. But, in a momentary lapse of reason, I did this with full knowledge that it was overpriced. |
Many warranties are not transferable; they typically apply only to the original purchaser when bought through an authorized dealer. There are exceptions, such as Bryston.
I'm sure you accept that your experience isn't universal. |
@cleeds No warranty? That would not be the case in something less than a year old? In 40 years of buying new equipment, I have never filed a warranty claim. I get your point but would say warranty is way over rated. |
It's not only used, it has no warranty. I never offer more than 50 percent of list for anything used. |
No remote, a darn shame, not always a deal breaker. I would put a link in my ad to OEM remote(s) for sale by others to increase probable sale. Some units, like my beloved Chase RLC-1 remote line controller MUST have a remote, zero controls on the unit; and sellers do not mention that, potential buyers may not know.
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Old man yelling at the clouds. I have no problem with people getting as much for something as the market will bear. That doesn't mean they'll get what they ask. That's the whole meaning of 'if given the freedom and opportunity the market will correct itself'. You're right though, the economy is going south, into a nosedive as a matter of fact. I think there will be a sharp drop in sales of new gear. As we've seen recently, mfgs might not even be able to get supplies to build units. This could ultimately drive prices up on good used equipment. It's already happened in the auto industry. I agree on the remote and working order of gear for sale. There too if you wait long enough someone will buy it. |