What is a fair used price?

[Brulaha]

What are you willing to pay for a used guitar, assuming it is generally in excellent condition, normal playing aside? I am just curious. I’m sure there are lots of different philosophies.

For our purposes here let’s assume MSRP. So for example if MSRP is $xxx, I’m sure you think to yourself (or at least I do) well I can buy it new for $yyy, so for me to buy used it would have to be a% off or b% off.

Just a little thought exercise.

[Johnny.guitar]

50-60% off sounds a bit much unless there’s excessive wear or issues.
I would say 35-50% off depending.
I’m amazed at how many used guitars I see for sale asking close to full price though....that I don’t get.

[ii Cybershot ii]

Well let's say there's a Maritn or Gibson on the wall at Guitar Center for $3k.

We already know immediately that forum sponsors, and other reputable outlets, could sell that guitar for 2400 easily brand new no questions asked.

So are we saying how much off the GC price? Or how much off of the price someone "in the know" would pay?

I think if someone paid the 2400 price, then 10% less is about how much you could expect to buy it for in excellent, barely used condition.

However off the GC, sweetwater, MF sticker prices you're looking at more like 30-40%

[Speedwagon]

Originally Posted by Johnny.guitar

50-60% off sounds a bit much unless there’s excessive wear or issues.
I would say 35-50% off depending.
I’m amazed at how many used guitars I see for sale asking close to full price though....that I don’t get.

Agree with this but percentage off MSRP is going to depend on the condition of the guitar.

Regarding prices in the dales forum...I agree that some of them are downright outrageius. Some are over 10 years old but the asking price is not reflecting that. Some have admitted “issues” but the seller is soldiering on with a price that would be appropriate for a very good guitar. The aforementioned guitars are not doing well and are lingering, almost loitering at this point.

[Brulaha]

I was trying to say list price is $x. New at the store is $y. Doesn’t matter if it’s 10% or 50%. Now to buy used the total discount from list would have to be say 60%; because you can already buy it new for 40%.

[ljguitar]

Originally Posted by Brulaha

What are you willing to pay for a used guitar, assuming it is generally in excellent condition, normal playing aside? I am just curious. I’m sure there are lots of different philosophies.

For our purposes here let’s assume MSRP. So for example if MSRP is $xxx, I’m sure you think to yourself (or at least I do) well I can buy it new for $yyy, so for me to buy used it would have to be a% off or b% off.

Just a little thought exercise.

Hi B

Are we talking a Somogyi? An Olson? A Martin D-28? 1954 Fender Stratocaster? A Voyage-Air VAOM-06? A Guild D-40? An Alvarez Yairi? An Estaban?

I think context has a lot to say about whether a used instrument is worth more or less than it cost new…

[Speedwagon]

Originally Posted by Brulaha

I was trying to say list price is $x. New at the store is $y. Doesn’t matter if it’s 10% or 50%. Now to buy used the total discount from list would have to be say 60%; because you can already buy it new for 40%.

Again...maybe it’s condition doesn’t warrant even 50%. Maybe you’ve been looking for “this” guitar for a while and you would pay more for it. Too many variables to give a pat answer.

[Tico]

What various people pay for the same guitar, new, is all over the map.
Some just pay whatever the sticker price is ... but then, I've seen some retailers have higher or lower sticker prices.
Then, some retailers will/can negotiate more or less than others.

The better-informed know that lower prices than the number on the tag are usually possible.
For example Martins have 3 prices:
1. MSRP found on Martin's website
2. MAP, Minimum Advertized Price, about 20% below MSRP
3. 40% below MSRP, but only enjoyed by customers who know to ask for it. (not guaranteed, so if one dealer says no, call the next dealer)

Then, as always, the most skilled negotiators pay less than the timid/less-informed/polite/nice.

Sorry but I can't vote in your poll because asking "Total % off to buy used" assumes everyone paid the same price for their new guitar.

[StringMeUp]

Originally Posted by ljguitar

Hi B

Are we talking a Somogyi? An Olson? A Martin D-28? 1954 Fender Stratocaster? A Voyage-Air VAOM-06? A Guild D-40? An Alvarez Yairi? An Estaban?

I think context has a lot to say about whether a used instrument is worth more or less than it cost new…

This....it depends

[TBman]

If someone is selling a guitar that is in like new condition, I would think 60 to 70% of the new market price would be fair. Generally when you buy a used instrument there is no warranty so you have to keep that in mind. Another thing to consider is that solid wood guitars generally get better sounding over time so it isn't surprising to see a price close to a new one.

Someone in the business of flipping guitars probably won't agree, and they shouldn't, but that is a different usage of the instrument than many of us here intend for them.

[jpd]

Originally Posted by Brulaha

I was trying to say list price is $x. New at the store is $y. Doesn’t matter if it’s 10% or 50%. Now to buy used the total discount from list would have to be say 60%; because you can already buy it new for 40%.

I'm so confused. There's no mention of year, added pick-ups, etc. Way too many variables must come into play B4 you can set a *fair* price!

[Brulaha]

Yeah I may not be explaining well. It’s hard to have a baseline because of MSRP MAP etc. I agree there are a lot of variables, which also makes it hard to compare.

[Rev Roy]

Depends on the guitar...but you can buy highend Martins/Taylors for 40% off MSRP. And expect guitars like that in excellent condition to sell for 50% off MSRP used.

[BT55]

Originally Posted by jpd

I'm so confused. There's no mention of year, added pick-ups, etc. Way too many variables must come into play B4 you can set a *fair* price!

Generally speaking upgrades add little to a guitars resale price.

Secondly, prices are based on supply and demand. A high end Taylor or Martin will sell for a higher percentage than either brands lower priced offerings. If you are shopping for a Carbon Fiber guitar you will pay a much higher percentage.

I will pay 50-60% of the original purchase price, not MSRP. If a $3800 guitar sells in the real market for $2800 I'll pay $1400 or $1500 for it used. The reason why is that is all I ever get selling them used so why would I pay more buying them used?

And upgrades add very little to anything when they hit the used market. You had a K&K pickup installed for $200? Doesn't matter, maybe you get $30 more for the guitar because of it. More likely it helps you not at all.