#16
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Who's on first?
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Brucebubs 1972 - Takamine D-70 2014 - Alvarez ABT60 Baritone 2015 - Kittis RBJ-195 Jumbo 2012 - Dan Dubowski#61 2018 - Rickenbacker 4003 Fireglo 2020 - Gibson Custom Shop Historic 1957 SJ-200 2021 - Epiphone 'IBG' Hummingbird |
#17
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I buy guitars to play. Not to sell. I have a friend who does this. He makes a couple bucks now and then. I don't see the point. It's not going to make you a significant amount of money/ Unless you deal in high end stuff. In which case, you probably don't need the money anyway.
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#18
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I calculated a profit of $100. You made $200 each time you sold it; that's $400. But you lost $300 when you bought it back. So a net profit of $100.
HOWEVER - - - since you said it is a trick question, no doubt someone will point out how and why I cam wrong.
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The Bard Rocks Fay OM Sinker Redwood/Tiger Myrtle Sexauer L00 Adk/Magnolia For Sale Hatcher Jumbo Bearclaw/"Bacon" Padauk Goodall Jumbo POC/flamed Mahogany Appollonio 12 POC/Myrtle MJ Franks Resonator, all Australian Blackwood Goodman J45 Lutz/fiddleback Mahogany Blackbird "Lucky 13" - carbon fiber '31 National Duolian + many other stringed instruments. |
#19
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Let’s do the accountancy exercise..
Trading Account Sales - 1,200 + 1,700 = 2,900 Purchases - 1,000 + 1,500 = 2,500 Sales 2,900 - Purchases 2,500 = Profit 400. It matters not a fig that it was the same physical guitar, there are four transactions to take into account - the OP bought two guitars for a total cost of 2,500 and he sold two guitars for a total sales value of 2,900, thus making a profit of 400.
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John Brook ‘Lamorna’ OM (European Spruce/EIR) (2019) Lowden F-23 (Red Cedar/Claro Walnut) (2017) Martin D-18 (2012) Martin HD-28V (2010) Fender Standard Strat (2017-MIM) Last edited by JayBee1404; 09-20-2020 at 06:28 AM. |
#20
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The real question is what $1000 guitar could inspire such idiocy.
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#21
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Quote:
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Martin |
#22
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I come up with $200 to the good. Before the last sale you had $1500 in it. After the last sale you were ahead $200. It doesn't matter how many times you buy and sell it, it only matters what you have in it and what you get for it.
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#23
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But you’re ignoring the 200 he made when he sold it the first time! 200 + 200 = 400.
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John Brook ‘Lamorna’ OM (European Spruce/EIR) (2019) Lowden F-23 (Red Cedar/Claro Walnut) (2017) Martin D-18 (2012) Martin HD-28V (2010) Fender Standard Strat (2017-MIM) |
#24
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He lost that "profit" when he bought it back for $1500, at which point he was $300 in the hole. The question was - did he gain or lose money. From a business point of view the transactions might be considered separately, but from a "horse traders" perspective it is only the money you are ahead or behind that matters.
Last edited by hermithollow; 09-20-2020 at 07:20 AM. |
#25
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Quote:
As I said, you’re ignoring the 200 he made on his first sale. Check my post #19. However you slice and dice it, over the whole of the four deals, he made 400. Trust me, I’m an accountant.
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John Brook ‘Lamorna’ OM (European Spruce/EIR) (2019) Lowden F-23 (Red Cedar/Claro Walnut) (2017) Martin D-18 (2012) Martin HD-28V (2010) Fender Standard Strat (2017-MIM) |
#26
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Quote:
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#27
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That's what mine said. He's now in the British Virgin Islands with all my money.
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#28
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-$1000+$1200-$1500+$1700=$400
Buying the guitar puts you $1000 in the red. Selling it puts you $200 in the black. Buying it back puts you $1300 in the red. Selling it puts you $400 in the black. I think that's right.
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Jim _____________________ -1962 Martin D-21 -1950 Gibson LG1 -1958 Goya M-26 -Various banjos, mandolins, dulcimers, ukuleles, Autoharps, mouth harps. . . Last edited by PHJim; 09-20-2020 at 08:25 AM. |
#29
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I hope all taxes from each sale were forwarded to the IRS . That's the only accounting that matters.
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#30
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These are two separate transactions. In the first transaction, the seller made $200. The second transaction netted the seller $200 as well. Too bad. I was expecting a trick math question.
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Barry 1969 Martin D-35 (Brazilian Rosewood/Sitka Spruce) 2002 Taylor 355 12-string (Sapele/Sitka Spruce) 2014 Taylor 914ce (Indian Rosewood/Sitka Spruce) 2016 Breedlove Oregon Concert (Myrtlewood) 2018 Taylor GS Mini (Walnut/Spruce) 2021 Taylor 326ce (Urban Ash/Mahogany) 2021 Kevin Ryan Paradiso (The Tree/Sinker Redwood) 2022 KaAloha KTM-10RP Ukulele (Koa) |