Thornybank Posted March 31, 2008 Share Posted March 31, 2008 This should be fun.... Pricing a second hand item is always fraught with doubt and nervous indecision. Having paid shop price because you HAD TO HAVE IT! or having scooped a free ads bargain, what do you do when the old girl's gotta go or the GAS hits critical? All things being equal (not a re-routed hash job, a dropped-from-a-height cracker or a central heating neck twister - nor a raving beauty) shops around here will offer 1/3 of retail so they can sell out at 2/3 of retail and still make a bit after the inevitable tidy, set-up, restring, shop warranty (if any) and VAT. So, unless you know the piece to be a peach, it is a collectable or you owe the seller a favour, private purchase should come in somewhere under that, n'est-ce pas? And less still if you are trading in against it = seller has to wait even longer for his £s. Street price, then, is 1/2 shop price? Or less if there are any issues/mods? Or wot...? Quote Link to comment Share on other sites More sharing options...
OldGit Posted March 31, 2008 Share Posted March 31, 2008 Yep, given all your "all things being equal" 40-50% of current retail is about normal. Quote Link to comment Share on other sites More sharing options...
thedontcarebear Posted March 31, 2008 Share Posted March 31, 2008 There is no way to set a percentage because of all the factors that would need to be taken into account, plus it all depends on the market of that particular item, things are worth what people will pay for them. Quote Link to comment Share on other sites More sharing options...
OldGit Posted March 31, 2008 Share Posted March 31, 2008 [quote name='thedontcarebear' post='166922' date='Mar 31 2008, 02:16 PM']There is no way to set a percentage because of all the factors that would need to be taken into account, plus it all depends on the market of that particular item, things are worth what people will pay for them.[/quote] Yeah but as a starting point.... Quote Link to comment Share on other sites More sharing options...
thedontcarebear Posted March 31, 2008 Share Posted March 31, 2008 I see no point in trying to give a figure, it's irrelevant because there are so many factors. Quote Link to comment Share on other sites More sharing options...
thedarxide Posted March 31, 2008 Share Posted March 31, 2008 As a general starting point I would expect 30% less than the average shop price. Quote Link to comment Share on other sites More sharing options...
Marcus Posted March 31, 2008 Share Posted March 31, 2008 Totally depends upon the Instrument i'd say I bought my Stingray 2 Band Natural (Real Stonker) for £999 Brand New from Guitar Guitar I'd suggest in the current depressed Stingray Market £650 would be about right 65% residual ! However I bought an Alembic Series II a while back for £3k which would have been the thick end of £10k New even with the current £ / $ ratio 30% residual ? I'd suggest a 60% Residual would be about fair on most instruments (just my opinion ofcourse) Quote Link to comment Share on other sites More sharing options...
john_the_bass Posted March 31, 2008 Share Posted March 31, 2008 everybody's different and different instruments (or stuff in general) have different values according to how exclusive or popular they are or how flooded the market is with said item. personally i would say that i'd pay about 60% of shop price max for second hand stuff, (or less - depending on what it was) which differs to several other people on this thread already. Quote Link to comment Share on other sites More sharing options...
Beedster Posted March 31, 2008 Share Posted March 31, 2008 This thread could go on forever. IMHO a bass is worth what someone will pay at the time you want to sell it. There are no rules whatsoever, not even of thumb C Quote Link to comment Share on other sites More sharing options...
CS2 Posted March 31, 2008 Share Posted March 31, 2008 Depends if you are buying or selling. Quote Link to comment Share on other sites More sharing options...
P-T-P Posted March 31, 2008 Share Posted March 31, 2008 If I'm buying, it's worth about 25% less than the asking price and if I'm selling it's gonna be at least 50% of the difference between what you've just offered and what I originally asked for more than what you offered! lol Joking aside, the only thing you can do is look around and see what similar items are selling for (not the asking price, the selling price). Failing that, if you're selling, sell it for what it's worth to you and be prepared not to make a sale and if buying, pay what your prepared to pay and be prepared not to make a purchase. Quote Link to comment Share on other sites More sharing options...
bigjohn Posted March 31, 2008 Share Posted March 31, 2008 I've posted this before. If you're interested in understanding why things cost what they do you should learn some basic economics... [url="http://en.wikipedia.org/wiki/Supply_and_demand"]wikipedia supply and demand[/url] What is important with second instruments is how rare they are, which makes the supply curve steeper (inelastic) and therefore the price becomes more sensitive to changes in demand. And how desirable the instrument is - which pushes the demand curve further from the origin on the graph, because more people demand the instrument at every theoretical price. The transaction price occurs where the demand curve crosses the supply curve. The price someone is willing to supply something for, is equal to the price someone is willing to pay. Quote Link to comment Share on other sites More sharing options...
warwickhunt Posted March 31, 2008 Share Posted March 31, 2008 How much was a new Fender jazz back in 1961? So a used one should be worth about...? How much was a new Wal back in 1978? So a used one should be worth about...? How much was a new Warwick Streamer in 1991? So a used one should be worth about...? As has been said they are worth what someone wants to pay for them. Fashion and current economic trends have some impact but when it comes to value, you can start sticking zeros on if it's old... regardless of whether it's a bag of sh*te or not Quote Link to comment Share on other sites More sharing options...
Marcus Posted March 31, 2008 Share Posted March 31, 2008 [quote name='bigjohn' post='167028' date='Mar 31 2008, 05:32 PM']I've posted this before. If you're interested in understanding why things cost what they do you should learn some basic economics... [url="http://en.wikipedia.org/wiki/Supply_and_demand"]wikipedia supply and demand[/url] What is important with second instruments is how rare they are, which makes the supply curve steeper (inelastic) and therefore the price becomes more sensitive to changes in demand. And how desirable the instrument is - which pushes the demand curve further from the origin on the graph, because more people demand the instrument at every theoretical price. The transaction price occurs where the demand curve crosses the supply curve. The price someone is willing to supply something for, is equal to the price someone is willing to pay.[/quote] I'm not sure elementary A level Economics applies to Bass Guitars, firstly we're all nuts here ! and secondly we buy on emotion and try to justify with logic - not the other way around ! Quote Link to comment Share on other sites More sharing options...
markytbass Posted March 31, 2008 Share Posted March 31, 2008 [quote]There are no rules whatsoever, not even of thumb[/quote] I agree, even new prices vary so wildly these days. What with internet prices, imports, highstreet prices and ebay. I've seen 2nd hand basses go on ebay for more than what I could pay for a new one, whilst some others go for less than half price. Everyone has their own idea of what price they are willing to buy and sell at. Quote Link to comment Share on other sites More sharing options...
Thornybank Posted March 31, 2008 Author Share Posted March 31, 2008 Yep - everyone is right! The best "average" I can work with is to google up a best best shop price, then scan current ebay completed items to see what current fashion says. Then I consider paying less than ebay with the option of washing my face if I hate the thing, or charging less because that's the kind of guy I am.... The latter is probably nuts...? Fun, huh? Quote Link to comment Share on other sites More sharing options...
The Burpster Posted March 31, 2008 Share Posted March 31, 2008 [quote name='Beedster' post='166952' date='Mar 31 2008, 02:55 PM']This thread could go on forever. IMHO a bass is worth what someone will pay at the time you want to sell it. There are no rules whatsoever, not even of thumb C[/quote] Best £400 I've spent yet! Quote Link to comment Share on other sites More sharing options...
David Nimrod Posted March 31, 2008 Share Posted March 31, 2008 [quote name='Marcus' post='167057' date='Mar 31 2008, 06:14 PM']I'm not sure elementary A level Economics applies to Bass Guitars, firstly we're all nuts here ! and secondly we buy on emotion and try to justify with logic - not the other way around ![/quote] +1 to that Quote Link to comment Share on other sites More sharing options...
martthebass Posted March 31, 2008 Share Posted March 31, 2008 (edited) I think rule of thumb is that if I'm selling it's worth 'bu**er all', and if [u]I'm[/u] buying the price seems to double Edited March 31, 2008 by martthebass Quote Link to comment Share on other sites More sharing options...
warwickhunt Posted March 31, 2008 Share Posted March 31, 2008 [quote name='martthebass' post='167128' date='Mar 31 2008, 07:24 PM']I think rule of thumb is that if I'm selling it's worth 'bu**er all', and if [u]I'm[/u] buying the price seems to double [/quote] +1 for that Quote Link to comment Share on other sites More sharing options...
originalfunster Posted March 31, 2008 Share Posted March 31, 2008 This rule does not apply to me in any way, shape or form...... as I just seem to spend a shed load on buying stuff, but never actually get around to selling the old stuff the new stuff was supposed to replace!!! I start out with the full intention of "selling this" to "buy that" (and to the Wifes knowledge thats exactly what I have done!! It's a good job she never goes in the garage or the loft!) but just never manage to get round to parting with any of it.... Quote Link to comment Share on other sites More sharing options...
bigjohn Posted April 1, 2008 Share Posted April 1, 2008 (edited) [quote name='Marcus' post='167057' date='Mar 31 2008, 06:14 PM']I'm not sure elementary A level Economics applies to Bass Guitars, firstly we're all nuts here ! and secondly we buy on emotion and try to justify with logic - not the other way around ![/quote] Well, in fact, it does! And it's the same elementary economics that every economist will use in some shape or form for everything in the world ever™. Demand and supply curves can been used to show what's behind every market transaction I can think of. "Buying on emotion" as you describe it just means that sometimes you're willing to pay more for an instrument than you perhaps your brain tells you it might be worth - which pushes your demand curve further from the origin - resulting in a higher price being paid. I would argue though that it's the inelasticity of supply which is the main factor in determining most prices. If vintage basses weren't rare or difficult to find, they wouldn't be worth much anymore. This also explains why trends in desirability of certain vintage basses causes such huge fluctuations in their prices over time. In some ways, "how much you're willing to pay" is irrelevant - it becomes more like "if you can afford to buy the one you find". Edited April 1, 2008 by bigjohn Quote Link to comment Share on other sites More sharing options...
loweringthetone Posted April 2, 2008 Share Posted April 2, 2008 Time to simplify. My personal rule of thumb is to take 1/2 to 2/3 of new shop price as being reasonable, if it's not been hammered. Any lower may be a bargain, but is more likely to be modifed/ damaged/knackered/stolen. Anything higher has to be in perfect nick, or a truly exceptional instrument that feels like my perfect partner, or has a sound that melts in my knees like ...... hmm.......a pint of Harvest Gold (best beer of Britain 2007) Vintage gear is another world entirely, and much more subjective/market forces/whims of the time. However, a good rule for me is never to even consider anything at Denmark Street prices. I look on ebay for final prices and dont just take one, but at least 3 if possible. Sometimes convincing folk that age doesnt mean it's a good or desirable musical instrument can be difficult. I once saw a guy advertisie a refinished 1966 Baldwin Burns at £10,000 because his mate had a 1960s Strat. I just couldnt convince him that it was worth perhaps less than 20th of price. Its probably still in his garage and probably got woodworm.. Ho hum. Im sure we have all heard tales like this. Quote Link to comment Share on other sites More sharing options...
budget bassist Posted April 3, 2008 Share Posted April 3, 2008 If it's in good condition i usually say about 2/3 to 3/4 of shop price... seems to work for me. Quote Link to comment Share on other sites More sharing options...
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