Is the used guitar market slow right now?

[Big Mike]

Just curious.

Seems to be. Thoughts? I've actually had like, no bites on my Radiance Red Luke on Craigs or any of the forums. No luck with a couple PRS I was trying to sell either.

I hardly ever see any used, so this surprises me. <shrug>

What say the brotherhood?

(gotta make room for the BFR offerings....)

 

[robelinda2]

personally i think ebay in particular is not the place it once was, but i guess thats obvious. guitars in particular seem to not sell unless they are a total bargain, and there's heaps of ebay stores selling at almost retail prices, they dont seem to be having a great deal of success. dunno what to make of it, but unless a buyer is desperate, he'll wait for weeks for the seller to bring the price down.

 

[Big Poppa]

early words of wisdom..."therre is only one reason why something doesnt sell....price

you can sell cat droppings if the price is right.

 

[58super]

I've noticed in the Great White North some used instrument prices going down due to the new prices declining because of the USD exchange rate being low to the CAD.

Some collector's guitars like L*s P**l Juniors still seem to going for silly money right now

 

[philiprst]

Here is what I have noticed. There is a huge amount of stuff on e-bay from dealers who basically use e-bay as a storefront. They list items over and over again at the same price which created the appearance that the market is slow. They are usually priced significantly above the average selling price. Good, genuine, sales from private individuals still get a good amount of attention in my experience.

My experience as a seller on e-bay is that the way to go is to list at a low starting price with no reserve. Most times this will get you the average selling price and above. The mistake many people make is to set a reserve price because most people don't like to play "guess the reserve". Just list it for the absolute minimum you are willing to sell it for and cross your fingers. It's as scary as hell but it works.

 

[Colin]

eBay was great a few years back, I still dabble as a seller but mainly buy. Is there a rival in the wings?

 

[robelinda2]

Colin, Ive picked up bargains a-plenty from trademe, in NZ, good dollar conversion too! a few EBMM's have cropped up too.....

 

[SteveB]

Big Mike,

I had a bunch of gear for sale on craiglist and no takers. But if you think used guitar sales are slow, try selling a house right now!

 

[pauldogx]

I personally think the market is very slow right now-----I've seen stuff on TGP and BAM at incredible prices and no takers---this is all different brands. At the Philly guitar shows last weekend------all I saw was vintage---no new or boutique(there were a total of 3 EBMM in the whole show!!!). If you have anything vintage--the market is nuts right now----if ya got anything else----good luck. the worm will turn though!!!!

 

[silverburst]

As an eBay seller, I've noticed a big slow down in the last 6 months. On the other hand, it is a great time to buy!

 

[Jimi D]

Maybe it's just me, but it seems that things never sell so well when the economy is in the toilet!

 

[Norrin Radd]

Maybe it's just me, but it seems that things never sell so well when the economy is in the toilet!

That's what I was thinking, but wait!, the DOW just broke 12,000!?!?

 

[CudBucket]

I think people are holding on to their money now because Christmas is right around the corner.

 

[Tim O'Sullivan]

I think people are holding on to their money now because Christmas is right around the corner.

I think you have hit the nail on the head with that one...

 

[Norrin Radd]

I think people are holding on to their money now because Christmas is right around the corner.

Hmmm....

I worked guitar retail for almost a decade. As I recall, November was very very busy with buying and selling used guitars as those shopping for a bargain (early shoppers) were hoping to snag somehting good (used) early and those who needed $$ for gifts were trying to unload guitars they didn't relly need/want to raise the funds. December is a harder month for used gear movement, but the new stuff takes off like mad 2 weeks before Christmas. IIRC.

 

[lenny]

yip people that need money are selling and people that dont have a ton are saving and the people that have all kinds can buy what they want Basic marketing actually
its like the 80/20 rule in Buisness 80% of your sales will come from 20%of your clients im sure BP will attest to that
just like
70% of your customers will/have to buy on a budget
25% of your customers will buy the best of the best BUT always on sale
5% price doesnt matter they have an expendable income

 

[Colin]

70% of your customers will/have to buy on a budget
25% of your customers will buy the best of the best BUT always on sale
5% price doesn't matter they have an expendable income

put me down in the 25% category

 

[candid_x]

80/20 = Prado’s Law.

Another handy tool is the “buy pie” wheel chart:

(all related to a given time, year, quarter, month)

What % of available market positively will buy (from someone)?
What % of available market positively won’t buy (from someone)?
What % would buy if given the right reason (from someone)?

Then it’s a matter of determining those various right reasons, and addressing each. A "now buyer" can be reached in different ways than the one who "would buy if given the right reason". The reason it’s called a wheel is that each category changes continually during the cycle. It’s a good way to objectify advertising budgets.

 

[Spudmurphy]

I'm not sure about the used market, but here in the UK there was a news item on the BBC that guitar sales have rocketed!

 

[Colin]

Another handy tool is the “buy pie” wheel chart:

Mmm pie