How do you judge value ?

[Scotbear]

Hi

When a bass is discontinued and not many have been for sale how do you guys come up with prices? Or do you just seek offers? Or use things like price when it was sold as new less obvious depreciation? 

Many thanks

Scot, Glasgow 

[Acebassmusic]

Not an easy question to answer as there are so many different ways of interpreting "the value of an item". The only info we have to go on is:

 

1) it's a bass - depends on the make, model, features, condition and desirability of the bass. A Wal will currently hold it's value, my old first kay bass would not even make good firewood! 🤣

 

2) its discontinued - why was it discontinued? Was it a limited run, end of production, bankruptcy or did people just not want them? Theres another thread about Fender Dimension basses where they are rated as a good bass. However traditional Fender fans didn't buy them in lorry loads as they weren't the traditional Fender shape / spec etc. Some basses that were discontinued in the 80's or 90's now attract mythical status (which changes over time).

 

3) not many sold - is this due to availability, exclusivity, not a good design, limited run etc?

 

Over the years I've owned a number of "non-standard" basses that were not easy to determine the value when I came to sell. Usually searching the internet for similar basses helped give me a range of values. What would I pay to own the bass? What would I be happy to let the bass sell for?

 

There's also a forum on here that you can post photo's and further info and the community will help you assess it. It's linked here - "Wotzit werth?!!" The responses to valuation questions are pretty accurate as there is a lot of knowledge on the site. Also in so much as "keeping it real", if a price is proposed that is too high or too low then someone usually comments to bring some sense into the proceedings.

 

I would post the bass details on "Wotzit werth?!!" first which will hopefully give you an idea of the range of value. Decide what price you would be happy to sell the bass for then advertise it at that price. If it doesn't sell then re-evaluate (it could just be a slow market and nothing to do with price).

 

Good luck.

[BillyBass]

Difficult question.  

 

Any object is worth as much as others are willing to pay for it.  A Mexican made Fender P or J is easy to price as you see what others are attempting to sell them for, and there would be plenty of interest if the bass was in good condition and your price was reasonable.

 

When I sell stuff I usually look at prices others are charging for them and offer a similar, or slightly lower price.  I normally sell stuff for between 65-70% of the new price.

 

With something more obscure, you might have to drop your asking price to attract offers and you might end up waiting a while before anyone shows interest.  A shop can overcharge and people might think the object has a higher value, but that doesn't work when the object is sold second hand by a private seller.

[TheGreek]

You are describing, as @Acebassmusicsays,  the Fender/ Squier Dimension and Modern Players perfectly.

 

Both great basses which play like a top end bass and sound fantastic. However they suffer from the old school Fender owners seeing them as "not a P or a J". Both are selling used for ludicrously low prices considering what you get for your money.

 

Sometimes the price items sell for does not represent what you get for your money.

[chris_b]

Vaule = Features, quality, price, reputation, reviews.

[GuyR]

2 hours ago, Scotbear said:

Hi

When a bass is discontinued and not many have been for sale how do you guys come up with prices? Or do you just seek offers? Or use things like price when it was sold as new less obvious depreciation? 

Many thanks

Scot, Glasgow 

Look on eBay, filter in the left of the screen for sold prices. That will give you a start,

[Scotbear]

3 hours ago, Acebassmusic said:

Not an easy question to answer as there are so many different ways of interpreting "the value of an item". The only info we have to go on is:

 

1) it's a bass - depends on the make, model, features, condition and desirability of the bass. A Wal will currently hold it's value, my old first kay bass would not even make good firewood! 🤣

 

2) its discontinued - why was it discontinued? Was it a limited run, end of production, bankruptcy or did people just not want them? Theres another thread about Fender Dimension basses where they are rated as a good bass. However traditional Fender fans didn't buy them in lorry loads as they weren't the traditional Fender shape / spec etc. Some basses that were discontinued in the 80's or 90's now attract mythical status (which changes over time).

 

3) not many sold - is this due to availability, exclusivity, not a good design, limited run etc?

 

Over the years I've owned a number of "non-standard" basses that were not easy to determine the value when I came to sell. Usually searching the internet for similar basses helped give me a range of values. What would I pay to own the bass? What would I be happy to let the bass sell for?

 

There's also a forum on here that you can post photo's and further info and the community will help you assess it. It's linked here - "Wotzit werth?!!" The responses to valuation questions are pretty accurate as there is a lot of knowledge on the site. Also in so much as "keeping it real", if a price is proposed that is too high or too low then someone usually comments to bring some sense into the proceedings.

 

I would post the bass details on "Wotzit werth?!!" first which will hopefully give you an idea of the range of value. Decide what price you would be happy to sell the bass for then advertise it at that price. If it doesn't sell then re-evaluate (it could just be a slow market and nothing to do with price).

 

Good luck.

I can't get link to work. Too few posts maybe ? 

[BigRedX]

Just now, Scotbear said:

I can't get link to work. Too few posts maybe ? 

 

You need to be a subscribing member to see that forum.

[Scotbear]

36 minutes ago, BigRedX said:

 

You need to be a subscribing member to see that forum.

I sort of thought I was...I have a log-in etc.

[Acebassmusic]

37 minutes ago, BigRedX said:

 

You need to be a subscribing member to see that forum.

Oops, sorry didnt realise that. 😬 

[Acebassmusic]

2 minutes ago, Scotbear said:

I sort of thought I was...I have a log-in etc.

 

The subs is extra to your standard login. Well worth it I think to help keep the site going👍

[Scotbear]

6 minutes ago, Acebassmusic said:

 

The subs is extra to your standard login. Well worth it I think to help keep the site going👍

Thanks - I will have a look. 

 

[BlueMoon]

5 minutes ago, Scotbear said:

I sort of thought I was...I have a log-in etc.

You are………as a member of the forum.

 

If you want to advertise gear for sale on the forum etc, then a small annual subscription will allow you to do that, and………will allow you to ask feedback from within the community on "Wotzit werth?!!"

 

Asking questions directly on the forum about the value of specific (i.e. your) gear will likely get a response from the moderators

[BlueMoon]

11 minutes ago, Acebassmusic said:

Well worth it I think to help keep the site going👍

^^^^^^this

[Machines]

6 hours ago, GuyR said:

Look on eBay, filter in the left of the screen for sold prices. That will give you a start,

 

There are some shocking underpriced examples where the item is collection only in a remote location. 

[GuyR]

2 hours ago, Machines said:

 

There are some shocking underpriced examples where the item is collection only in a remote location. 

Maybe but what they sold for is what a buyer was prepared to pay in an open market situation. More relevant perhaps than an owners interested opinion.

Edited October 4, 2023 by GuyR

[Rusco]

Value based / value add pricing is a whole topic in itself.

 

You're factoring in desirability, demand and availability + alternative options and value to the individual (plus pricing can influences all those too)

 

As a place to start you could try looking at previously sold pricing (as mentioned above) and then possibly pick the mode value to stop the extremes at each end skewing it, like the collection only prices.

[TheGreek]

15 hours ago, GuyR said:

Maybe but what they sold for is what a buyer was prepared to pay in an open market situation. More relevant perhaps than an owners interested opinion.

 

This phrase really gets on my nerves - it's become a common response to "what's it worth" - ridiculous as the buyer may well put the item back up for sale the following day ("flip it!" ) and get several hundreds/ thousands more.

 

So which is it? The first amount? The second? An average of the two? 

 

I advertise my gear for what I think it's worth, taking into account condition -v- similar items I've seen sold. Basically what I think would be a fair price to pay if I was buying it. Want to buy it at that price? If the answer is "no" then I'll hold on to it till somebody will and you can find one at a price you are prepared to pay (and take the risks of the unknown). 

 

My brother sells antiques and is often "lowballed" - his attitude is "fucck 'em" - when they can't find it at the price they want to pay they'll either come back or they can go without.

[GuyR]

13 minutes ago, TheGreek said:

 

This phrase really gets on my nerves - it's become a common response to "what's it worth" - ridiculous as the buyer may well put the item back up for sale the following day ("flip it!" ) and get several hundreds/ thousands more.

 

So which is it? The first amount? The second? An average of the two? 

 

I advertise my gear for what I think it's worth, taking into account condition -v- similar items I've seen sold. Basically what I think would be a fair price to pay if I was buying it. Want to buy it at that price? If the answer is "no" then I'll hold on to it till somebody will and you can find one at a price you are prepared to pay (and take the risks of the unknown). 

 

My brother sells antiques and is often "lowballed" - his attitude is "fucck 'em" - when they can't find it at the price they want to pay they'll either come back or they can go without.

I’m sorry I got on your nerves. 

 

[TheGreek]

Not you...the all too common phrase

[BigRedX]

Stick it on eBay with a 99p starting price and no reserve. What it sells for at the end of the week is what it is worth at that moment in time.

[GuyR]

1 hour ago, BigRedX said:

Stick it on eBay with a 99p starting price and no reserve. What it sells for at the end of the week is what it is worth at that moment in time.

There speaks a man with an understanding of the basic laws of economics 

[TheGreek]

1 hour ago, BigRedX said:

Stick it on eBay with a 99p starting price and no reserve. What it sells for at the end of the week is what it is worth at that moment in time.

 

...but bear in mind that it could sell for more the following week.

[LukeFRC]

EBay, reverb and basschat/talkbass for used prices.

 

if that doesn’t tell you rough prices then either:

nobody cares and it’s worth £30

or 

theres a community of geeky fans of that instrument online somewhere and you need to find them.

 

if the company is still going how desirable was it when it was released, how desirable are other similar basses from that maker. 

 

[BigRedX]

14 hours ago, TheGreek said:

...but bear in mind that it could sell for more the following week.

 

Of course...

 

A couple of years back I sold a Marshall PowerBrake on eBay. It got damaged in the post - nothing serious, one of the chunky handles and a small section of the front panel where it attached were bent. However the buyer understandably decided they didn't want it, so it got returned for a full refund. I was able to hammer out most of the damage and re-listed the item mentioning the problem and showing extra photos of where it had been bent. This time it sold for almost 50% more than before despite the fact it was in less good cosmetic condition. The two listings were only 2-3 weeks apart.