It depends on three things: Do you care how long it takes to sell? Finding someone that wants it. Price. If you don't care how long it takes to sell then interested party & price are your only hurdles. If it is not a high demand item, might take longer, 5 days is too soon. Two years old, no box and 1/3 off is not a bad start, however you are not going to get the bargain hunters with that. Personally, I rarely drop my price as I don't care how long it takes to sell. I have had items on Craigslist for up to a year without selling. Things do eventually sell at or near my asking price. If you are in the ballpark pricewise with other sales of your gear, there is nothing wrong with waiting for the price you want.
I recently sold a pair of Klipsch Heresy's on USAUDIOMART. Took about 2 weeks. Local pickup only - $525. When the buyer arrived he offered $500 - which I accepted. I reminded him that all the Heresy's on eBay were going for $700 - $800+ with shipping cost extra. I lost money on this sale but I priced them to move. Anyway I prefer and own vintage Altec and JBL - much better sounding than any Klipsch, old or new!
If you give us a link to your listing, perhaps specific advice, i.e. wording, will emerge from members with selling experience.
Equipment: I always consider the lowest price I would accept, then add 10%, list it as buy it now. So I can agree to a request for a discount from a potential buyer.
Buy It Now. I used to bid/spike years ago, now, I, and many others start by filtering their views as 'buy it now' only. You will miss those buyers if yours does not have a buy it now option.
LP’s: I start with minimum including shipping below $10. and let the market determine value. Same thing when I sell R2R tapes, start below $15. incl. shipping, desirable ones naturally get higher prices.
If, like me, the object is to make space, the money is nice, i.e. I just bought a nice CD player with my last 90 days of LP sales.
As for your item, if you don’t need the money soon, relisting is easy, I have 26 lps currently that have been re-listed many times, nobody wants them. I need to add some new ones. Point is, bingo, one undesirable will suddenly get purchased, just a matter of time.
Also, check what others are selling theirs for, ’watch’ others listed on eBay.
hifishark.com will show you more listings than eBay, both for sale, and prior sales, all good info.
btw, In my general notes I specifically offer ’unconditional returns’, gives buyers confidence they will receive a trouble free item.
one thing to keep in mind is that audiogon, as opposed to ebay or craigslist, is a narrower, more selective pool of buyers--i.e. your potential audience is much smaller, which logically means it might take a little longer to sell (also you're also a new seller, which makes potential buyers more wary). that said, if you're getting a fair number of watchers but no offers after three weeks or so, i'd rethink the list price. personally, i've never been one of those guys that is willing to wait a year to get what he thinks is the right price--if i'm that attached to a piece i wouldn't list it in the first place.
+1, @jperry. Lot of people are reluctant to buy electronics without original box. Buy a box from FedEx with packaging material that allows good protection and post pictures on your ad to increase your prospects.
Yogiboy -- good points. You're definitely not bursting my bubble. I'm starting at a higher price point because I think it's really a diamond in the rough. Those dual mono power supplies are pretty rare, and the company is kind of boutique-y but with a solid reputation. I will lower the price if it lags.
Thanks lalitk for the advice about the box.
Thanks elliot, I'll consider getting it further out there. And brightening the photos.
Thanks, jperry -- I especially don't want to mislead with the rating. Cosmetically and functionally it's in very close to perfect shape so that is why 8 seemed too low, but you make a good argument. Will probably adjust as you say.
I often keep things listed for weeks or months before dropping the price. I'm never in a hurry to sell things though, it's always something that I've made an upgrade from and want to find a new home for.
If you need the money or want it out of your house right away, drop the price every few days and it will sell.
Otherwise wait for the right buyer to come along. There are people that browse ads daily and there are those that only look when they decide they want to buy.
Here are some things I do when selling.
- Use hifishark to see what similar items have been listed for and start with my price in the middle of that range. - Always price things a little higher than what I actually want for them. If I get my asking price, that's a bonus. If someone wants to play "let's make a deal" then I've left some room for them to feel like they are a super duper negotiator. Know beforehand what the lowest is you'll accept. If they ask "what's the lowest you'll go", don't tell them. Tell them to make an offer and consider it based on your pre-determined limit. Stay in the driver's seat, but make them feel like they are getting a good deal. - Take good photos. - Be descriptive.
I disagree with the person who said rating it a 9 is not realistic because others have owned it. I use the Audiogon rating scale and grade the condition on... yes, the condition. If it's been taken good care of and is in good cosmetic condition, it doesn't matter how many owners, at least not in terms of grading. Some people are interested in the "history" of the item, how many have owned it, how it was kept, if there were smokers, pets, etc. (which are all valid), so keep that in mind.
When buying used gear, unless it's a really highly sought after piece and hard to find, I rarely pay more than 50-60% of the original retail price.
As others have said, no rush to drop price, of you are not in a hurry. That said, +1 yogiboy, jperry. Unless it is a "hot" piece, in basically new condition, I'm looking to pay around minus 40% or less for used kit. For a second owner (condition therefore 8 tops, usually) piece, introduced in 2014, minus 33% certainly seems ambitious. Personally, although I don't churn kit, when I do sell, I ask on the low side; things move fast, with happy buyers, with less haggling. Worth passing on a few bucks for me.
I usually underrate items I sell to avoid discussions about the rating. The Audiogon scale in addition to appearance states 9/10 is “light use”. I would not rate something as light use unless I was the only owner and knew personally that the use was “light”.
I would really like to rate it eight and a half! So many people are making very good points and I think I'll just wait a little while and see what happens and then perhaps just drop the price and the rating a little bit. I truly believe it is an excellent shape but I see your points and I do want to sell it but I am not in a hurry. I appreciate you passing on your experience to me. I am not churning gear I am simply moving to a better amplifier, solid state.
Value of anything is in the eye of the buyer, not the seller or anyone here ...
That is really not quite true. There's actually a legal standard for this, which is applied in cases such as condemnation and eminent domain disputes. Financial value = what a willing seller will accept from a willing buyer.
When I purchase here on Audiogon, I will never pay more than 50% of retail price and if there is no original box, I don’t put in an offer. Not trying to hurt feelings but you won’t sell it at that price. It is not a well known brand and I see nothing that would make me want to buy a 2 owner piece of equipment at only a third off. If you are a motivated seller, drop the price and edit the ad title to say new lower price. That in itself will get you more looks.
Others have covered the ground. My approach to selling begins with buying. The last time I bought something not in original shipping cartons it arrived on a pallet with bits of cardboard held together by twine. You could literally see more of the speaker than the box it was supposed to be in. Always keep your shipping cartons, always take lots of clear pictures, and always clearly state it will be safely and securely packaged in original shipping containers. These few things are worth big money in my experience. You don't have any of them.
My psychology is quite different than most. I do sometimes put a little extra in the price but mostly I look around see what there is and price mine to sell. Because you can be sure someone out there is watching and waiting (what I do!) and when they see the price drop they don't leap they drool at the thought of..... the next price drop! Price drops are weakness. They show you are weak, the market is weak, maybe the piece for sale is weak too. Don't kid yourself, that is how it works.
@stereo5 My feelings aren't hurt. I appreciate knowing why you won't buy my gear and perhaps others will see things the way you do. If so, I'll drop the price and change the title. That's good advice. I will wait a while and see how it goes. Will try to update folks so they can see how they're predictions bear out. (Betting pool in 3...2...1...just kidding.) @dill Excellent! An oversight. Thanks! @donvito Didn't mean to do that, just have not posted it here yet. My OP didn't include a link or mention of where I was selling it; you saw that, right?
I have had a lot of success selling components but I do somewhat panic for no reason. Recently, I sold a DAC. I had 5 offers from one guy who also bid on something I had 5 years ago. All Low ball offers and having to listen to him tell me that I will never sell it for the price I am listing it at. I got 3 other offers....again all low ball offers. It does make you think. I think people automatically assume a used piece is worth 50% of the retail value even if it is less than one year old.
I did get a decent offer after three weeks. The buyer and I were both happy. It really depends a lot on the brand. If it is a known brand people will tend to pay more because they know they can turn around and sell it if they don't like and they won't lose money. It is harder to sell boutique components.
It appears as if there is a mark on the front face below and left of the aux button. ANY mark on the face will make the grade a 7 if you go strictly by the rating scale. For many, over rating an item will be a red flag. It is a nice looking piece and 7 seems harsh, but that is what the rating scale states. It is always better to under promise and over deliver. As already mentioned, not having factory packaging causes it to take a hit. I also see no mention of an owner's manual. All of these things make a difference in price. When looking on HiFi Shark, I see these going from $1000 to $1300. The SE version is going for a bit more, but still not up to your asking price. You can let it sit there at that price, but I have my doubts that it will sell until you are within the range listed above. Good luck.
@cmsgolf Thanks. There is no mark. That is likely a camera related issue. I will correct it. Thanks for taking a close look. The manual is a PDF. I can mention that. I understand what you've seen on hifi shark and it's a good point. I left myself room to be flexible, and didn't want to start it too low, but I think you've convinced me, as have others.
@willgolf I hear you, and think you're probably right, too. More good reasoning to drop the price.
lot of views and no offers clearly indicate pricing too high and/or not enough
demand to generate offers near the asking price. Also, there does not appear to
be much of market for that particular brand.
it were me, I’d start with what I paid for used equipment as my initial asking
price (plus 10% at most); and then be willing to back off some percentage
(10%-20%) off of that to move it. Presumably I’ve gotten some enjoyment out of
the gear and won’t really leave much money on the table when I sell.
300+ views in 5 days, why wait to start dropping price in order to spark some
interest? Just my 2 cents.
just takes one person who wants it, combined with do you really need to sell it...I put up an integrated a few years ago, on multiple occasions, with no responses at all...put it up a month later at same price and received 3 full price offers within a few hours...on Audiogon
One more thing. You said this was your first sale on Audiogon. I didn’t check but I assume you don’t have any feedback ratings. Some buyers may be a little less likely to accept your representations if nobody here has dealt with you before. You might consider selling a little below your expected price to gain some recognition as a trusted seller.
You should to state what type off equipment , how well known and the condition , most all equipment doesnot even get $50% used . cables the biggest drop in price ,if it’s a well known hot product , like Wilson Audio , Pass labs, McIntosh and a. Few others keep their value very well ,the majority after 2 years 50% if you are lucky ,you should get the original box if possible people want all original packing materials.
I tried to sell a pair of speakers here a month ago. They were brand new, they didn’t work well with my amp but they were high end and decent speakers. Regardless what I listed it for, all the offers came in at around 55% of the original price. First I felt insulted. I didn’t understand why everyone’s offer was so low. Later I found out they wanted to flip it for a profit. Given that it was brand new, box, warranty and all, I still think it was disgraceful. I later figured that eventually someone will pay slightly more, someone who won’t flip it. It’s a matter of time. I would check how many of the same items are up for sale and if you want to sell, price it at the lowest or slightly lower than - and offer something extra
If there are any glowing reviews of your item, include a link. USAudiomart is free. Not so here. Shark picks up pretty much everything so most buyers look there first. Maybe your question really is: "How do you price an item"?
I agree with millercarbon's 2nd paragraph. Ask a price that is fair and reasonable after doing some research and hold to it because if there are knowledgable buyers out there, they will know that and won't haggle just to shave a few bucks of one's price. That is not to say that they can't or wouldn't make a counter-offer which you are free to accept or reject if you think it's close enough (or not). But just dropping the price on your own is negotiating against yourself and shows lack of confidence and buyers will pick that up.
I agree with millercarbon's 2nd paragraph. Ask a price that is fair and
reasonable after doing some research and hold to it because if there are
knowledgable buyers out there, they will know that and won't haggle
just to shave a few bucks of one's price. That is not to say that they
can't or wouldn't make a counter-offer which you are free to accept or
reject if you think it's close enough (or not). But just dropping the
price on your own is negotiating against yourself and shows lack of
confidence and buyers will pick that up.
Your item might take longer to sell simply because it is a less familiar brand. Conversely, I was wondering what brands sell more readily or command higher resale prices. A lot of good advice you're getting here. Educational thread for those of us who've never sold a piece of audio equipment .