I'm pretty sure that sellers on CL and the Bay have lost their ever lovin' minds.

[Katastrophe]

I was just looking around at Teles, just seeing what they are going for, on CL and the 'bay.

The prices are absolutely nuts, and way overpriced. Folks charging what MAP was on the instrument when it was new.

I see y'all (Commodore 64, Duffy, Brian and others) coming up with these great deals. They ain't around here, that's for sure!

Not that I'm gonna be buying anything in the near future, but I might be willing to trade sometime sooner or later.

Sheesh... Folks is just greedy and proud of their guitars!

/whiny rant over.

[bcdon***]

If you think it is bad down there, check out CL up here in Canada. People around here think they can ask the brand new price because they aren't charging you taxes. Occasionally there is a good deal but they are few and far between.

[Commodore 64***]

Another annoying thing, is that folks with older MiM Fenders think they are worth more because the newer MiM teles are slightly better quality (And pricier).

[kiteman]

and I thought I was asking too much for my toys.

I see the same thing here on CL but I saw an ad for a Gibson Custom Les Paul for $250 and that didn't stay long. Whenever it's real or not I'll never know.

Anyway I didn't bother to try selling something anymore, buyers are too cheap and they want something for nothing.

[FrankenFretter***]

I read the two local CLs every day, just out of curiosity mostly. I've mentioned this before, but the people around here seem to think that 85-95% of retail is a fair asking price. I know Heywood has noticed this too. I guess it's not just here. You would think with the economy the way it is, people would be a little more reasonable. There are deals to be found out there, to be sure, but you have to look often. The good deals usually disappear pretty quickly.

[Katastrophe]

Anyway I didn't bother to try selling something anymore, buyers are too cheap and they want something for nothing.

There is that side of the coin, too. When I sold my motorcycle, I received quite a few emails that were just silly. I just said, "no thanks," and moved on to the next email. Found someone that made a reasonable offer in my acceptable range, and we did the deal. He got a motorcycle well under blue book value, and I was able to pay the bike off and put a little cash in my pocket. Everyone was happy.

BTW, I think your stuff was listed at a fair price, with the custom a great deal. Only lack of cash prevented me from buying your Blackheart.

[hubberjub***]

Most sellers on CL or Ebay don't have any idea what their item's worth. It takes a lot of patience but it can pay off in a big way. What annoys me most is people who put a reserve on Ebay auctions. I never use one. I just set my minimum bid at the least I'd be willing to sell for.

[Eric***]

Most sellers on CL or Ebay don't have any idea what their item's worth. It takes a lot of patience but it can pay off in a big way. What annoys me most is people who put a reserve on Ebay auctions. I never use one. I just set my minimum bid at the least I'd be willing to sell for.

I hear you on that one. I guess I never understood it. Maybe it's people trying to get you to look by having a ridiculously low starting bid, then hoping the frenzy of auctions ends up netting them more that they would get otherwise? I can't tell what its use would be otherwise.

I feel like at least to some degree, ebay has become less of a contest and more of just a way of doing regular transactions these days. So maybe the day of the reserve is coming to a close? I hope so.

[kiteman]

Oh boy, here comes a dumb question but what is a reserve?

[FrankenFretter***]

Most sellers on CL or Ebay don't have any idea what their item's worth. It takes a lot of patience but it can pay off in a big way. What annoys me most is people who put a reserve on Ebay auctions. I never use one. I just set my minimum bid at the least I'd be willing to sell for.

Most people will tell you what their reserve price is if you ask them. I agree that the reserve thing is irritating. I've never sold anything on Ebay, but from a buyer's standpoint, I wish that the reserve thing would go away.

[Katastrophe]

Oh boy, here comes a dumb question but what is a reserve?

On ebay, the reserve is a minimum price that the seller sets prior to the start of an auction. If the auction doesn't hit the reserve amount, then the seller can pull the item and keep it for resale later. It is a hidden amount that buyers cannot see. It's supposed to keep items from going at too low a price, but it really is a pain in the butt.

I prefer the no reserve style, too, with a minimum bid, so one can judge if the item is worth it or not.

The only thing a buyer can see is if the reserve has been met or not.

[kiteman]

On ebay, the reserve is a minimum price that the seller sets prior to the start of an auction. If the auction doesn't hit the reserve amount, then the seller can pull the item and keep it for resale later. It is a hidden amount that buyers cannot see. It's supposed to keep items from going at too low a price, but it really is a pain in the butt.

I prefer the no reserve style, too, with a minimum bid, so one can judge if the item is worth it or not.

The only thing a buyer can see is if the reserve has been met or not.

So without the reserve you have to sell the item at the winning bid even it's below what you want or you can set the minimum bid which is your price?

Just wanna be sure I've read it right.

[Katastrophe]

Yep, the seller sets the first bid at whatever the minimum is. The auction, at least, won't go any lower.

When we sold our video camera, we set the minimum bid at $100, which was the lowest amount we would take for it, no reserve. That price insured that we would cover any fees associated with the sale. We got more for it, and shipped 'er out. All in all a easy process.

[kiteman]

That makes sense. I can see why we need no reserve but what's the purpose of it anyway?

[Eric***]

That makes sense. I can see why we need no reserve but what's the purpose of it anyway?

My best guess is what I said earlier: lure people in to look at it with the promise of a below-market price (low starting bid), and hope people get into a bidding war and inflate the price. That's the best explanation I can come up with, anyway.

[deeaa*]

Apropos, what _is_ the correct value of a used item in your book?

When I buy stuff used, the norm here is you google the cheapest price you can get a new one, with shipping & tax if applicable, and then the normal selling price is -30% off that, or that item should sell for 70% of the value of a new one.

That is, if the item is in comparable condition to a new one.

Sometimes people ask for more, in which case I've told them, look, I can get a new one at this price any day, with my store card I get 10% off even that, and do you think it's worth for me to save (say 15 bucks) and discard the warranty? They always agree the price is too steep.

But, in old/discontinued/classic instruments of course it's anybody's guess what the price is. Also, if the item isn't readily available anywhere that affects the price. For instance I could probably sell my Ceriatone for pretty much exactly the same as new one would cost, due to the wait period and the long shipping risks on a new one, and the lack of any real warranty.

[Eric***]

I've never thought about it in formula terms, but I have come around to thinking that people prefer new, so if you're going to sell used, you had better make it worth it to the buyer. It doesn't matter if you've upgraded stuff or had it set up or whatever (on a guitar, for instance). You'd better make sure it's a good bit less than a new one if you expect to sell it.

Sometimes people stick to their high prices, and I just figure they're not ready to sell it yet. Maybe they think they are, but they probably need some more time to come to realize that they really don't want it any more, at which point they'll probably come back to earth and drop the price.

[Katastrophe]

Apropos, what _is_ the correct value of a used item in your book?

I think your method is entirely fair. If the item in question is not in "new" condition, how do you adjust down for wear and tear?

[deeaa*]

I think your method is entirely fair. If the item in question is not in "new" condition, how do you adjust down for wear and tear?

That would be entirely up to the individual case in question...say, a guitar retailing at 1000 even would usually be priced 700, i.e. 70% of new.

Now, if it has improving mods, those don't really change the price much, unless they are reversible and/or comes with original parts as well, and are clearly saleable also when removed from the guitar. Say it has EMG's but comes with original pups, in this case you'd add ~70% of the EMG price as well, thus this guitar would sell roughly at 770;-

Blemishes...any cosmetic dings and scratches save for slight 'belt rash' would in this range drop the price by about a hundred, I'd say. Refinish or extremely worn/needing new frets, anything from 2 to 3 hundred down.

Good examples: right now on sale locally there are two Epi Flying-V's.

The other has a duncan and a dimarzio in plus a Bigsby copy trem installed.
Sells for 250;- and labeled 'there's a bunch of dings as well', with a bag.

Next to it is an original one, like new, with bone nut installed, 350;-

A new one costs 400 at the mo, so the latter one would only appeal to someone who's very keen on just such guitar and probably won't sell anytime soon, probably only to a local who can test it as new, and the first one is priced just right, and is even cheapish if the frets are still OK.

Hm, there's a good selection of V's around just now here...also a red Tokai V for 400, and several other makes like Deans etc.