Ascertaining resale value?

[area51recording]

Hi guys.....still in the midst of this COVID nonsense, and it looks like I'm going to have to try to liquidate some older gear. I know, there's no way to do this without taking a beating, but the meager unemployment is running out soon, and things are still raging around here, every little bit helps. I check Ebay, Craigslist, and so on, but I was wondering if there were any sites that I could look at to give me an idea of what an actual realistic starting off price on things would be (some people's asking price on stuff is totally out of line) I'm talking about a couple of keyboards (Yammie S and P 90) and maybe some recording mics, Audio Technica stuff, Rode, a Mackie Onyx mixer, etc....as I say, know I'm gonna get smacked on it money wise, but groceries must be purchased.....thanks.

[Bif_]

I'm sorry for your circumstances. Tough times indeed.

 

Aside from Ebay, I'd suggest Reverb.com. For some items you can see price trends. I got this from a quick check on their site. S90 for sale

 

Guitar Center's 'Used' site is indicative of the 'going rates' for gear too.

 

Between these three you should be able to get a reasonable gut check price.

[wineandkeyz]

I'd also check Music Go Round's website to see if they have the same items.

[miden]

As much as someone is willing to pay, and usually with no reality check on price paid. I start a lot of auctions at $1 - you need to accept that what you get back will not be what you expect.

[AnotherScott]

The key to useing ebay (or reverb) to determine value is to clock the "SOLD ITEMS" filter. That tells you what items actually sold for, as opposed to merely what people are asking.

[KuruPrionz]

Ebay "Sold" listings can be an indicator, so can Reverb and Guitar Center.

 

You can beat the odds if you play the game properly. I've been on Ebay since 2000 with over 900 feedback, all positive. I also sell on Reverb, it depends. See below.

 

2 options work the best in my experience. It depends on how popular an item is.

 

If the item is not highly sought after cult classic or collectable then list it on Reverb. The fees are significantly lower so you'll end up with more money. Start your listing with the price a bit too high, intentionally. Reverb buyers will offer you less. Take the first reasonable offer from a solid member of Reverb, pack it well and make it go away. Be sure to carefully weigh and measure your items and charge a fair and correct price for shipping.

 

If the item is popular then you want to use an auction - Ebay is the way to go. List the item on a Thursday, you want it to end on Sunday no later than 7pm Eastern Time so everybody gets a chance to bid. Ideally it ends on the Sunday after the second pay period, middle of the month. First paycheck goes for rent, bills etc. so you won't get as many bidders and it won't go as high. Start the auction at .98 cents and let it run. If it truly is a popular item it will be well on it's way by late Sunday of the first weekend it's posted. It could end higher than you expect, I've done very well many times with this strategy and continue to use it.

 

The advantages are that it gives the item exposure for 2 full weekends, it is available when the most people have the most money and starting low gets a ton of bids. Many people feel like they "own" an item once they bid on it and will come back and bid again and again. The last 30 seconds or so can be pretty exhilarating, by then it has become an ego war with the seller being the winner.

 

Same as above on packing and shipping, always pack very well and be fair with your shipping prices. You may do better than you think! Cheers, Kuru

[area51recording]

Thanks guys for your help! A lot of the gear is stuff I haven't played in forever, as well as half a dozen mics that haven't been out of the box since I closed my studio 5 years ago, so at least I don't feel like I'm liquidating anything I'm currently playing (yet, anyway). Haven't played a gig since March 14, so that unemployment and stimulus has gotten me pretty far down the road. I'm hoping to play some (safe) gigs next year, and I'll probably go ahead and take retirement a little early (I'll be 64 in May). I don't have a ton coming my way, but it'll help......

[ProfD]

A lot of the gear is stuff I haven't played in forever, as well as half a dozen mics that haven't been out of the box since I closed my studio 5 years ago...

I agree with the recommendation to start the bidding low and let it play out. Whatever the gear sells for is what it's worth. Sitting in a box or closet it's worthless.

 

At some point, we all have to decide what's essential and important. I wish you all the best in staying above water.

[Wrrtyuuiioop]

I do not agree with the eBay process stated.

 

That may work in the USA but it will be different in other Countries.

 

Here in the UK the bidding will not start until within the last day to depress the final auction winning bid and so that the vendor cannot pull the listing.

 

The very high eBay and Paypal fees will eat into and cash due to you.

 

Ensure the item is insured and that if something is lost it can take two months plus to resolve.

 

Set a Reserve price on items of value.

[KuruPrionz]

I do not agree with the eBay process stated.

 

That may work in the USA but it will be different in other Countries.

 

Here in the UK the bidding will not start until within the last day to depress the final auction winning bid and so that the vendor cannot pull the listing.

 

The very high eBay and Paypal fees will eat into and cash due to you.

 

Ensure the item is insured and that if something is lost it can take two months plus to resolve.

 

Set a Reserve price on items of value.

 

 

I can't disagree with experience and yes, other countries are probably different. If I started an auction low with 10 days to go and it wasn't ripping along by the end of the first weekend, I would pull it and relist on with a full price.

Your point is made but the seller is not trapped unless they don't pay attention.

[AnotherScott]

If I started an auction low with 10 days to go and it wasn't ripping along by the end of the first weekend, I would pull it and relist on with a full price.

Your point is made but the seller is not trapped unless they don't pay attention.

eBay can penalize you for cancelling auction listings. For one thing, they will charge you the fee that would have been due if you had accepted the highest bid (after one "grace" occurence per year). They also say they "may place limits and restrictions on your account if you are doing so regularly."

[KuruPrionz]

If I started an auction low with 10 days to go and it wasn't ripping along by the end of the first weekend, I would pull it and relist on with a full price.

Your point is made but the seller is not trapped unless they don't pay attention.

eBay can penalize you for cancelling auction listings. For one thing, they will charge you the fee that would have been due if you had accepted the highest bid (after one "grace" occurence per year). They also say they "may place limits and restrictions on your account if you are doing so regularly."

 

I've never had any problems like that. But, I am careful about what items I choose to place on auction. It needs to be a very popular and desirable item, research can provide that answer.

 

As an example, I'd list a Moog synth in great condition as an auction. I would not list a Casio that way, I'd find the median price that has been paid in the recent past and list it a bit higher with a Make Offer option or more likely, just put it up on Reverb with the same parameters.

 

Re-read my post above, there is a method to my madness. I do not just toss everything up as an auction, it is a carefully orchestrated move.

The 82 Gibson Les Paul Custom in excellent condition I listed as an auction for 98 cents was over $1,200 within 12 hours and ended at over $3,200.

 

There is nothing random about my technique.

[The Real MC]

Viewing auction histories to ascertain market value does not take into account that there are fewer buyers on the market laid off their jobs due to Covid. Good luck. You might want to be open to international buyers.