Second hand prices.

hunglikeaflee

Why oh why do people over price their equipment when selling.

I look at various websites almost every day to see if there is something I might be interested in. I baffles me where some people get their prices from? I know some will allow for a little haggling but it should only be a little.

An example of what I saw today. A Canon lens I have been looking for.

Private sale on a website they are looking for €380 and even say where it was bought new. This seller is in Dublin so let’s compare that first.
Go to that shops website and you see it new for €399.
Look at another shop and you see it new for €364.
A shop in Dublin has a second hand one for sale at €320.
(You can walk into these shops (in Dublin too) and haggle, I have done.)
Now if you want to take the chance you can buy it on line for about €300 new. My friend just did that and got it in 4 working days from the UK.

So now the €380 asking price looks ridicules. It just stops people even been interested in it.

When ever I have sold anything I have researched it a little (that can be done in minutes) and priced it based on that. Allow a little for a haggle and if someone wants what you have, they know the value and will pay accordantly.

Sorry rant over.

Tallon

It's the same with everything though

Retro games are the funniest, people selling mega drives for hundreds because its 'vintage'

I have 5 of them at home and I think the most expensive one was a tender

Paulw

If you don't ask a high price, you won't get it.

I have sold lenses for nearly the amount I paid. If people don't want to pay the price, then they can look elsewhere. But, I am almost always open to haggling.

Some people on boards have bought lenses from me, and none have ever had an issue with the lens nor the price. My equipment is treated very very well, so is in excellent condition when sold.

In your example above, if the lens is brand new for €399 (Dublin shop price), then I would ask €350.

hunglikeaflee

No the price brand new in a Dublin shop is €364 and I know this shop they will sell for less than that, I would expect to pay about €340 to €350 from them.

This seller is asking €380.

I know what you are saying but I would never even consider it if the asking price was not at least 20% less than the new price. For someone buying from this seller they are getting a lens with no warrantee yet walk into another Dublin shop and buy a second hand one with a warrantee for €320 or less.

Splinters

Its always the way. Some people have no comprehension of how much certain items devalue over time.

I use adverts quite a bit but it can be a test of patience at times. Im not really one for haggling so if Im selling anything, ill always check what priced similar items have sold for and base my price from that. It still never ceases to amaze me the ridiculous offers you get. I suppose thats always the nature of second hands goods.

Splinters

Paulw wrote: »

In your example above, if the lens is brand new for €399 (Dublin shop price), then I would ask €350.

Depends on the lens in question, how often they come up on adverts etc. Obviously we're just talking hypothetical figures here but assuming it was a common enough lens I think 320 would be a much more reasonable asking price, with a realistic expectation to let it go for 300. Thats still 3/4 of the new price with a warranty.

Effects

I find people over value cameras more than lenses. I guess lenses hold value better as the technology moves slower.
I once put a cropped sensor sigma lens on ebay at a reasonable price (it was also second hand to me). When a few people had finished bidding against each other the winner was paying more than the new price for the lens. I had already bought it second hand myself so ended up making a profit. Couldn't believe it.

Splinters

Ebay is typically quite expensive for lens. Im not sure why as a few years ago you'd often pick up some bargains. I think most people these days prefer local sales as you dont have the added expsense and hassle of ebay/paypal fees, shipping costs etc. Theres always the option to look at it before the sale which is rarely the case with ebay, unless of course the seller lives nearby.

dirtyghettokid

Splinters wrote: »

Its always the way. Some people have no comprehension of how much certain items devalue over time.

I use adverts quite a bit but it can be a test of patience at times. Im not really one for haggling so if Im selling anything, ill always check what priced similar items have sold for and base my price from that. It still never ceases to amaze me the ridiculous offers you get. I suppose thats always the nature of second hands goods.

THIS.
i'm selling all my nikon gear on adverts. i always look around to see what my items are worth second hand -- i check out competitors on adverts, ebay, etc.
i always have my price in mind and then have to lob a chunk on top of that, because the low ballers on adverts are ridiculous!

i think people just throw an offer in with absolutely no intention on buying it.
i absolutely despise those who only are out to ruin your listing. i've found that there's a few people that go around photography ads doing this on purpose. they haven't actually bought anything -- they only insult the seller by saying "dude, you know you can buy it at X for XXX" they say it in such an insulting way..

ugh.. adverts does my head in! i'm ready to bargain with a buyer, but don't insult me!

i'm always in the frame of mind that if you don't like the price, GO ELSEWHERE! makes common sense! but no, there's some sense of begrudgery or SOMETHING that makes people shít on your ad before leaving it.

sorry bit of a rant there

Paulw

Lenses last. Once the glass is well kept (not scratched), then the value of the lens doesn't decrease that much. People seem to undervalue lenses.

It would also depend on the lens. Is it a common lens? Is it a cheap lens? Is it a pro lens? Is it a large prime lens?

I will always want to make as much as I can from selling on my gear. But, I am also realistic. When buying, I never pay over the odds prices. I always do my best to get a good price. When selling on, I want to get a good price too, to minimise my loss.

If a lens is €3,900 brand new then I would ask for €3,200. I might settle for €3,000.
If a lens is €399 new, then I would ask for €350. I would expect to settle for around €320.

I always browse sites for similar lenses for sale 2nd hand, to see the going market price. I will make my initial price competitive, but not always cheaper.

dinneenp

this is why-
Brian runs to the Beard Seller's stall and hurriedly grabs an artificial beard.
BRIAN: How much? Quick.

HARRY THE HAGGLER: What?

BRIAN: It's for the wife.

HARRY THE HAGGLER: Oh. Uhhh, twenty shekels.

BRIAN: Right.

HARRY THE HAGGLER: What?

BRIAN: There you are.

HARRY THE HAGGLER: Wait a minute.

BRIAN: What?

HARRY THE HAGGLER: Well, we're-- we're supposed to haggle.

BRIAN: No, no. I've got to get--

HARRY THE HAGGLER: What do you mean, 'no, no, no'?

BRIAN: I haven't time. I've got--

HARRY THE HAGGLER: Well, give it back, then.

BRIAN: No, no, no. I just paid you.

HARRY THE HAGGLER: Burt!

BURT: Yeah?

HARRY THE HAGGLER: This bloke won't haggle.

BURT: Won't haggle?!

BRIAN: All right. Do we have to?

HARRY THE HAGGLER: Now, look. I want twenty for that.

BRIAN: I-- I just gave you twenty.

HARRY THE HAGGLER: Now, are you telling me that's not worth twenty shekels?

BRIAN: No.

HARRY THE HAGGLER: Look at it. Feel the quality. That's none of your goat.

BRIAN: All right. I'll give you nineteen then.

HARRY THE HAGGLER: No, no, no. Come on. Do it properly.

BRIAN: What?

HARRY THE HAGGLER: Haggle properly. This isn't worth nineteen.

BRIAN: Well, you just said it was worth twenty.

HARRY THE HAGGLER: Ohh, dear. Ohh, dear. Come on. Haggle.

BRIAN: Huh. All right. I'll give you ten.

HARRY THE HAGGLER: That's more like it. Ten?! Are you trying to insult me?! Me, with a poor dying grandmother?! Ten?!

BRIAN: All right. I'll give you eleven.

HARRY THE HAGGLER: Now you're gettin' it. Eleven?! Did I hear you right?! Eleven?! This cost me twelve. You want to ruin me?!

BRIAN: Seventeen?

HARRY THE HAGGLER: No, no, no, no. Seventeen.

BRIAN: Eighteen?

HARRY THE HAGGLER: No, no. You go to fourteen now.

BRIAN: All right. I'll give you fourteen.

HARRY THE HAGGLER: Fourteen?! Are you joking?!

BRIAN: That's what you told me to say.

HARRY THE HAGGLER: Ohh, dear.

BRIAN: Ohh, tell me what to say. Please!

HARRY THE HAGGLER: Offer me fourteen.

BRIAN: I'll give you fourteen.

HARRY THE HAGGLER: He's offering me fourteen for this!

BRIAN: Fifteen!

HARRY THE HAGGLER: Seventeen. My last word. I won't take a penny less, or strike me dead.

BRIAN: Sixteen.

HARRY THE HAGGLER: Done. Nice to do business with you.

dirtyghettokid

i bought a sigma 70-300mm macro lens a few years ago from a shop in swords for €270. i realise this is not an expensive pro lens or anything, but i had a look around, and i would like €100 for it. so i advertised it at €120, leaving bargaining room.
so i get an offer well below asking, and when i politely decline, he says "sorry but 136e is price of new online...."
and it's like... well why are you wanting to buy mine? just go buy that one! last time i checked, the lens was €170 online new, but i'm sure deals can be got. i know i overpaid.. but jeeeeees!
then you have people offering, but saying i have to go to the city centre to give it to them. i stated in ad collection only and they said well blahdy blah is my best price considering collection location. i'm in north co dublin ffs! not kerry!
i'd rather keep the lens as a paperweight, than sell it to some ignorant person.

Splinters

Yep it can be frustrating experience alright. I usually state on my ads very clearly now that Im in no hurry to sell and that silly low ball offers are a waste of time. It probably makes no difference at all but at least I feel justified in telling somebody offering a tenth of an items asking price to **** off

DaireQuinlan

dirtyghettokid wrote: »

i absolutely despise those who only are out to ruin your listing. i've found that there's a few people that go around photography ads doing this on purpose. they haven't actually bought anything -- they only insult the seller by saying "dude, you know you can buy it at X for XXX" they say it in such an insulting way.

... resists ... temptation ... to go to adverts ....

Yeah adverts can be a little fraught at times. People normally over-price their stuff though because they expect low-ball offers and a bit of haggling. There are some ... aspirational ... sellers though. Another thing I hate is getting in there first on an adverts bargain and having queues of people trying to dissuade the seller from selling it, or offering more than the asking price, or (in at least one case) PMing the seller trying to spoil the sale :mad:

I find EBay is still cheap if you can play the long game. I have a pile of watched searches. I put low ball bids on things when I see them first and then forget about them. 95% of the time I don't get stuff, when I DO get them I generally get them quite cheaply. Can take months and months though.

Effects

DaireQuinlan wrote: »

I find EBay is still cheap if you can play the long game. I have a pile of watched searches. I put low ball bids on things when I see them first and then forget about them. 95% of the time I don't get stuff, when I DO get them I generally get them quite cheaply. Can take months and months though.

I tend to put them in my watch list and set reminders. Then I put my bid in when there's about ten seconds to go on the auction. Quite often you can get something like that before someone else ups their bid.

mehfesto

Just a reminder that it's not uncommon for the prices of old gear to go up because of new discoveries.

The D70 has a shutter that allows flash synching of up to 1/2000. When Strobist put it up on his site the prices doubled overnight online. Same with some lenses that are no longer in production.

I'm not saying the seller is always right, I'm just saying there is method to the madness sometimes.

amdgilmore

I hate Adverts.ie.

I tried to sell a phone on there, unlocked, brand new, unused and with €90 knocked off the price and still the chiselers showed up.

I kid you not, two users working together set up a fake auction for the same model of phone, selling at a hugely reduced price, and then linked to it to try to get me to knock 50 quid off my asking! I realised what they were up to when I went through their history and discovered that they both worked for a mobile phone repair shop in the Camden Street area.

After about a week of dealing with people trying to hijack the ad I put it up on donedeal and sold it at the asking within 24 hours.

Oh and, like the OP, when I tried to buy a DSLR on there in April, all the asking prices were €50-100 more than the prices on eBay and nobody was leaving any room for negotiation. One guy was looking for 600 and was just flat-out refusing offers of 550.

I checked just now and I'm unashamedly pleased to see that he's been unable to sell the camera in the last 7 months. Greedy git.

dinneenp

....reduced the price of my Pentax K-7 in adverts to a realistic €450 now (down from €549)

Adrian.Sadlier

I've bought some lenses from people on adverts and have been quite pleased with them. As suggested, I do my research on pricing, and take a long term approach. Sometimes the prices are just crazy (high) but you can also get bargains. I got a Sigma DC (cropped sensor) 18-50mm f2.8 EX D for €150

You just have to be patient.

FoxT

If I am buying, I will decide on the price that I am prepared to pay, and I will not exceed that price. I will write the price on a postit & stick it to my monitor so if I am in a bidding war on ebay or whatever, I will NOT get caught in the moment.


If I am selling, I'd start off by figuring out how much I wanted for it. Then, I'd advertise it at a price 10% higher. That gives a bitta wiggle room for haggling.

I kind of assume that most sellers do something similar - if I see a listing on adverts I'll assume buyer will settle for 10-15% less than asking. So if something is advertised for eu400, I assume a deal is doable somewhere in the 350-360 range...

dirtyghettokid

adverts isn't really an auction though. you never get more than you ask for, like you can with ebay.

what i don't get is the real low ball offers. do people actually think a seller would accept 50% less than asking price? i know in some rare cases someone might be desperate, but in most cases people really want near enough their asking.

dsaint1

Low ball offers are ridiculous but so are prices that are way above the market value.

The amount of sellers on adverts that don't check the current value of the piece of kit they are trying to sell is unreal. They over price it and then take offence when you point out you can get a new item for less than they are asking for their second hand, used item.

If you want to sell then go and bloody check the CURRENT price of the item and price your second hand/used item accordingly!

amdgilmore

dsaint1 wrote: »

If you want to sell then go and bloody check the CURRENT price of the item and price your second hand/used item accordingly!

I'm pretty sure they're all well aware of the current prices. They're just hoping that you're not. They take offence because you've blown their chance of taking some poor sod for an extra 50 quid.