2nd hand price for 3 month old Uke?

Ben_H

Ben_H

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Hi,

I'm looking to sell a uke. I bought it at the same time as another one 3 months ago with a view to choosing between the two. It's not getting played so choice made really.

Trouble is I have no idea a what % of shop price to ask for it. As I said, I've had it for three months, there is only one outlet in the country and they have no stock. I have an interested buyer and they know there are none for retail sale in the country at present (they told me.)

What do people think is reasonable given there could be a long wait for the shop to get more stock in? Obviously the more I can get for it the better as I want to put a down payment on a custom baritone.

All sensible suggestions appreciated
 
The general rule is that you don't sell it for more than you payed for it. Some ukes appreciate over time, but 3 months is not a long time. ask for what you payed, take no more than a 10% loss.
May I ask what it is?
 
Hey Ben
I don't think it is outrageous to start with the price you paid for the instrument -- as long as it is in mint condition. If the buyer wants to negotiate, then the 90% of that price is reasonable, too.


Ben_H said:
Hi,

I'm looking to sell a uke. I bought it at the same time as another one 3 months ago with a view to choosing between the two. It's not getting played so choice made really.

Trouble is I have no idea a what % of shop price to ask for it. As I said, I've had it for three months, there is only one outlet in the country and they have no stock. I have an interested buyer and they know there are none for retail sale in the country at present (they told me.)

What do people think is reasonable given there could be a long wait for the shop to get more stock in? Obviously the more I can get for it the better as I want to put a down payment on a custom baritone.

All sensible suggestions appreciated
Click to expand...
 
My rational goes some like this, why would I buy something from a previous owner for the same price I could buy the instrument new from a dealer? It's the law of depreciation. Kind of like buying a new car and driving it off the lot. Regardless of it's condition or mileage, it's pre-owned. At a minimum, I would go with "eukeeu's" advice and sell for 10% less of what you paid for it.
 
You might buy full price if you new it was in mint condition and the wait for similar from the dealer was longer than you wanted. I'm not talking about making a profit -- and I don't think the OP is either. But if he truly believes this instrument is the same as it was out of the box and the buyer feels the same, there is no reason not to sell for what it cost him.

delray48209 said:
My rational goes some like this, why would I buy something from a previous owner for the same price I could buy the instrument new from a dealer? It's the law of depreciation. Kind of like buying a new car and driving it off the lot. Regardless of it's condition or mileage, it's pre-owned. At a minimum, I would go with "eukeeu's" advice and sell for 10% less of what you paid for it.
Click to expand...
 
I work for a store and have been selling instruments for around 13 years now. General rule is a used instrument is a used instrument, and its worth about 75% of the new price when you leave the store. So a $100 instrument would generally sell for $75 used, $1000 for $750, now not all instruments will have this. Some have a much higher demand. Moore Bettah & Devine instruments would certainly not be in this category, these would easily sell for the same price as new.

But the old saying, "Something is only worth what someone is willing to pay for it," also stands true.

10% less than new I would think most people would realize isn't worth buying it. If you're going to spend $900 on an instrument that sells new for $1000, its worth spending $100 for the warranty.
 
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luluwrites said:
You might buy full price if you new it was in mint condition and the wait for similar from the dealer was longer than you wanted. I'm not talking about making a profit -- and I don't think the OP is either. But if he truly believes this instrument is the same as it was out of the box and the buyer feels the same, there is no reason not to sell for what it cost him.
Click to expand...

There is still the warranty issue to consider though. As much as I'd like to get full price if I were in the OP's shoes, I'd feel (my personal feeling not saying you should feel this way too) that it is used and there won't be a warranty so starting at 90% is reasonable.
 
PedalFreak said:
I work for a store and have been selling instruments for around 13 years now. General rule is a used instrument is a used instrument, and it loses about 25% when you leave the store. So a $100 instrument would generally sell for $75 used, $1000 for $750, now not all instruments will have this. Some have a much higher demand. Moore Bettah & Devine instruments would certainly not be in this category, these would easily sell for the same price as new.

But the old saying, "Something is only worth what someone is willing to pay for it," also stands true.

10% less than new I would think most people would realize isn't worth buying it. If you're going to spend $900 on an instrument that sells new for $1000, its worth spending $100 for the warranty.
Click to expand...

fixt :) Not a math guy but that caught my eye.
 
I don't know the UK warranty regulations exactly, but as they are in the EU I would assume that warranty is not a problem here as it sticks with the purchased item, not with the buyer. In other words: if the uke was bought with a 12 months warranty it will still be covered even if resold within these 12 months (provided the original proof of purchase is still available).

Regarding the price I'd ask the potential buyer for a bid first (tell him what you paid and ask). As there is no retail stock available, you are in a kind of seller's market. Without knowing more about the uke in question I'd still say ~80-90% of your purchase price could be realistic.
 
PedalFreak said:
I work for a store and have been selling instruments for around 13 years now. General rule is a used instrument is a used instrument, and its worth about 75% of the new price when you leave the store. So a $100 instrument would generally sell for $75 used, $1000 for $750, now not all instruments will have this. Some have a much higher demand. Moore Bettah & Devine instruments would certainly not be in this category, these would easily sell for the same price as new.

But the old saying, "Something is only worth what someone is willing to pay for it," also stands true.

10% less than new I would think most people would realize isn't worth buying it. If you're going to spend $900 on an instrument that sells new for $1000, its worth spending $100 for the warranty.
Click to expand...

Oh my goodness, that scared the pants off me till I realised you really meant a loss of 25%. :D

Not trying to make a profit at all. I always new that the strategy of me buying two to then decide between would mean I would take a loss on the resale. I kind of figured it would almost be like a rental period.

Having said that, the potential buyer wouldn't have to pay the postage that I did and they have already tried it out on many occasions. In fact they've been trying to decide if they wanted one since I bought this one.

I was going to ask them to make me an offer, just wasn't sure what my expectations should be and what I should hold out for.

Ukeeku you have PM.
 
kvehe said:
Hey, Ben - How's the black Dolphin doing these days?
Click to expand...

Sssssshhhh! That's the one I'm selling ;)


It's waiting for a quiet day so that I can strip it back totally and reassess. Unfortunately with 4.5 yr and 18 month old daughters such moments are few and far between (and that's not even mentioning dogs, chickens, fish, allotment......).

Thanks for asking
 
I'm in the camp that says "used" is anything not brand new, being sold directly by the store, meaning you shouldn't really expect to get the same price as you paid for it new. Once you buy it and bring it home, it's used. Unless there was some other factors at play, the 25% depreciation seems about right to me. Even if you've only played it for 5 minutes and kept it in the case the whole time, etc. etc.

Of course, if you have an instrument that's extremely hard to find, out of production, etc., then those factors could push the price back up to the price that you paid. In those cases, it's all about what someone else is willing to pay.

As a buyer, if the price was roughly the same, I personally would wait however long it took and get it from a store with a warranty. It's just something I prioritize, after having to pay for neck resets on guitars out of pocket because there was no warranty.

(Just curious, what are you selling?)
 
PedalFreak said:
I work for a store and have been selling instruments for around 13 years now. General rule is a used instrument is a used instrument, and its worth about 75% of the new price when you leave the store. So a $100 instrument would generally sell for $75 used, $1000 for $750, now not all instruments will have this. Some have a much higher demand. Moore Bettah & Devine instruments would certainly not be in this category, these would easily sell for the same price as new.

But the old saying, "Something is only worth what someone is willing to pay for it," also stands true.

10% less than new I would think most people would realize isn't worth buying it. If you're going to spend $900 on an instrument that sells new for $1000, its worth spending $100 for the warranty.
Click to expand...

+1 I am in the old school belief that 25% or more is a fair price for dolphin no matter if it's in excellent condition...you have to add the depriciation factor in.....I certainly would not be comfortable
going any higher...but it is your uke and your decision.....and what the buyer is willing to pay for it.... he he you can ask whatever you like.. Like previous said, if it's a custom high end uke, now
that's a different matter... to be honest, my asian built ukes...I would just rather give them away to someone who needs it...rehome it...Good luck on your sale...sorry if I sounded kinda harsh, , did not mean to .....It was just my honest opinion...of course you can ask him what he would pay for it first...always hard and you would like to hear the others sides offer first..
 
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It's not the dolphin I'm selling. That uke is in pieces.

I'm going to ask the possible buyer to make me an offer and see where we go from there.

Thanks all and goodnight :)
 
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