General advice about selling your "used" guitars.

[Silly Moustache]

I have long understood that the price for an instrument used should be IRO 60% of the new purchase price.

I put a guitar on consignment a little while ago, not really expecting it to sell so quickly (if at all).

This is (was - sniff) a 20 year old well used guitar and it sold for a little more than I bought it for less the dealer's 15%.

I recently saw a (rare) new model which is now 170% of what iIpaid (20 years ago).

So, should that 60% be what it was when I bought it, or what it would cost new, now?

Just wondering.

[rick-slo]

Probably calculate based on the price of a new one for your typical (non collectible) in very good condition used guitar. However there is really no "should" involved.

[Oldguy64]

Originally Posted by Silly Moustache

I have long understood that the price for an instrument used should be IRO 60% of the new purchase price.

I put a guitar on consignment a little while ago, not really expecting it to sell so quickly (if at all).

This is (was - sniff) a 20 year old well used guitar and it sold for a little more than I bought it for less the dealer's 15%.

I recently saw a (rare) new model which is now 170% of what iIpaid (20 years ago).

So, should that 60% be what it was when I bought it, or what it would cost new, now?

Just wondering.

I just posted a guitar.
The highest price was ridiculous, the lowest price is a good bit more than I paid.
I priced between the lowest and second lowest price.
I’m $11 above the lowest, so final price will still be lower than that price plus tax for the lowest price.
Hope that helps.

[DesertTwang]

I don't believe in any fixed rules regarding percentages or fractions of original vs. new vs. used price. After all, there is no one valid estimate on how those are related. For example, used pre-war Martin guitars go for sums that would buy you a nice home in some cases, while any other used guitars go for a fraction of their original price.

Plus, how do you factor in modifications that lessen the value (dings and the like) and modifications that raise the value (such as replacement bone nut and saddle, for example)?

When I sold a Martin dreadnaught recently, I scanned Reverb for the typical range of prices that particular model currently sells for and adjusted my price accordingly.

In the end, I sold it for about 90% of what I had paid for it, but that price included a few minor dings as well as upgrades including a nice pickup.

[stephenT]

AS it's been said, there is no "should" in pricing. It's about desirability and rareness. Ultimately the market decides.

I had a microphone for sale here in the classifieds a couple years ago, one forum member took the time to message me to tell me my price was too high, mind you he wasn't a buyer. I later sold that mic for my asking price, because it was the right price to THE BUYER.

There are no hard and fast rules except there's a buyer for most everything and price is a moving target.

[L20A]

Look at the price for a new guitar and then subtract 20% to 40% depending on how popular the guitars is and the condition.
If it doesn't sell in a timely manor lower the price accordingly.

Many times you will break even on an older guitar or even make some money on the sale.
You may loose a bit on the sale of a newer guitar. Appreciation is a huge factor.

[MoJoe]

I usually check all "sold" prices on eBay/Reverb and also see what is out there and how much they are asking. If it's something that has no sold lineage then you can price at at what you feel it's worth and go down from there.

[beatcomber]

A 20-year-old guitar is almost vintage, so the general rules don't apply.

(Consider the resale value of a 1958 J-45 vs. a 2018 J-45.)

[Shades of Blue]

I've had pretty good luck, but I can generally sell for 75% off advertised prices online. It always varies, but typically I price myself wherever the competition is on reverb or ebay.

[Tube Sound]

Originally Posted by MoJoe

I usually check all "sold" prices on eBay/Reverb and also see what is out there and how much they are asking. If it's something that has no sold lineage then you can price at at what you feel it's worth and go down from there.

I agree with this. The internet is your friend. Unless your guitar is incredibly rare, you can almost always find sales or at least asking prices. I try to do as little math as possible and base it on sold/for sale listings. If I had a rare guitar I would get an opinion from a respected dealer. If all else fails, I lick my index finger and hold it up in the wind.

[colder]

I would look at 60% of new as a target price for something that new versions of are still available. Otherwise I would be looking at the used prices of comparable guitars in similar condition. You can always find an outlier on either end of the spectrum but I wouldn’t want to pay more than 60% of MSRP on a used item. Good luck

[Silly Moustache]

OK folks,

Thanks for your input.

I can't really make easy comparisons on eBay or elsewhere because you don't see a lot of Collings 12 fret dreads around .... It's not like a j45 or a D28.

The price realised before the 15% commission was indeed about 60% of the new price and whilst the guitar had recently been refretted, it did show signs of use and repairs.

Apart from seller's remorse, I don't feel that I've been swindled or anything.

Thanks again folks.

[merlin666]

The cost of guitars has gone up a lot along with inflation and earnings for most people, so it is very difficult to put the cost of guitars 20 years ago or longer into context of their potential value today. Rather than think about what you paid for it decades ago it's probably more relevant to look at market factors of today, like how much would it cost to replace with an equivalent guitar, or what the supply and demand for similar guitars is.

Like last fall I bought an old (maybe 40 years) ukulele for about $550. This was probably a lot more than it cost new, and it was also pretty banged up and has patched holes etc. On the other hand, a brand new equivalent model like this now costs about $1900, and the new ones lack some of the cool vintage feature that I like. I feel like a got a fair deal and am very happy with it.

[gmel555]

Silly: Maybe using current prices as a "guideline" is okay for fairly newer guitars, but only using a percentage of the "new price" doesn't take into account condition, desirability, etc. As you pointed out some guitars go up in value -and given inflation- almost any decent, older guitar will sell for more now than when it was new. The best way I know to value a guitar is try and see what same/similar ones are selling for.

[Pitar]

Asking for a market price is impossible because the market doesn't know how to evaluate it due to unknown criteria that should affect valuation.

One guitar, used, displaying its scars, unable to tell me what kind of atmosphere conditions it has been exposed to, what kind of beating it might have experienced from the previous owner, how many times the neck truss rod was unprofessionally rotated, how many times it was tuned to a tuning that increased the neck tension, how many times heavy gauge strings were experimented with, if polishes and/or oils were applied, etc.; the market cannot set an offset for these things because they are unknown. It can only generalize.

Even a statement claiming good condition is really only tongue-in-cheek. The best a luthier or tech can do is a visual check for security of the bonded components and neck relief. Neither person can answer most of the unanswerable questions previously posed.

The most plausible criteria in the sea of unknowns is if it looks good, plays good, it is good and the rest of the unanswerable questions left behind are like raised hair on the back of the neck.

That's why my idea of valuing a used guitar is based solely on what I think it owes me. If it gave me 10 years of recreational returns and inspired me to evolve as a player, I owe it more so than it owes me. So, after full disclosure, I'll ask what a buyer is hoping to pay for it. If his price seems reasonable I'll accept it.