When you sell something..

[SouthPaw]

Do you research fair market value or what similar items are being sold for? I have been extremely froogle with my money lately, so I may be watching this more closely, but I have seem some out of this world pricing on things for sale. This goes between craigslist, armslist and the like websites. Yeah, they are all free market but I am just blown away by some of the things I have seen listed.

I recently sold my truck a few months ago and I began searching for a cheaper replacement vehicle to get me by for awhile (this is when I really started noticing it) and was BLOWN away but what others were selling. For example, a 17yo truck with 300K+, a rusted through bed and rusted frame for $8000! A truck that has 'typical dents from being a work truck' with the side of the bed caved in, or a 2015 with 60K for $2K less than a brand new one, etc. My neighbor had his truck for sale and I recognized it on craigslist by the background. It was listed as in excellent condition and very rare (GMT800 SCSB) and as I was driving past it, it literally had one of the torsion bars snapped off almost dragging on the pavement. I know it wasn't new damage either as it is still that way and its been over a month with the ad being refreshed. I know, I know; it's your item and put whatever asking price you want it; if I don't like it, don't buy it but man, good luck. My favorite two lines are "highly sought after" and "I know what I got, so no low balls." Don't get me wrong, some of those do apply to certain vehicles but sometimes what you got is a POS that is well past it's prime. It wasn't just vehicles either. I always browse through the motorcycle section since I always seem to have 1-2 in my possession at any given time but I am seeing used bikes with asking prices what they cost new? Guns too! I don't want to touch on this too much as feelers tend to get hurt but M&P 2.0's are on sale almost everywhere for $399 online with a $50 MIR (get one if you haven't, they are awesome!). Why on earth would I buy your used one for $475? I still will never understand the cash price is $400 but my trade value is $500 scenario either but that was a different thread.

Before selling my truck, I checked NADA, KBB, eBay and craigslist to find out what my asking price should be. Hell, I even called the owner of a local dealership to see what he thought. Lo and behold, I listed it with my researched value and it sold in 4 hours to someone who flew in from out state with people standing in line for it. Is that a sign I listed it too cheap? Maybe, but I felt it was fair price that I was willing to sell it for. I do my very best not to pay someone's asking price as I always want to feel like I got a deal. Sometimes it works for me and sometimes it doesn't but I am aware of that when I contact that person. I haggled on my truck when I sold it and I haggled on the vehicle that I bought to replace it. I found what I was looking for, at a price I was willing to pay with the understanding that it was going to need some work. Even after all the work I have done to my replacement truck, I am still under what others are asking for theirs that are still in need of repairs. I am sure many of us have been on both sides of this fence but this stuff never ceases to amaze me. Take this all with a big grain of salt. Maybe I just need to be like my dad and never sell anything and then you can avoid this all together. Sometimes he teaches me lessons when he isn't even trying to.

And yes, the truck I recently sold was a 'highly sought after/rare' Mega-cab Cummins turbo diesel and I got a kick out of this.

https://s33.postimg.cc/mspfiu60v/craigs.png (https://postimages.org/)





*Disclaimer* This is my attempt at a half ass rant and something my girlfriend doesn't quite understand, therefore I am expressing my thoughts to you monkeys. This is merely my opinion on the free market and not meant to be taken seriously. Please continue to list your items for sale at whatever price you feel.

[mattiooo]

I still will never understand the cash price is $400 but my trade value is $500 scenario either?

I agree with your whole rant, but this in particular. Value is value. But if you insist on inflating your trade value, I will do the same with what I'm trading you [shrug].

"MidwayUSA sells this for $125, but its trade value is $175."

[SouthPaw]

This is a good one too. Not listing all the obvious information that would be pretty damn important when selling something (year, model and miles). This just happened while I was typing the above:

https://s33.postimg.cc/zcfysf4pr/craigs2.jpg (https://postimages.org/)

[CapLock]

I'm buying a Toyota extra cab TRD. 200,000 miles for 3 grand. Looked up other listings to make sure I'm not getting hosed. It looks like I'm the one doing the hosing this time. Many of the same trucks on Craigslist for three times that amount. Toyota and diesel owners are out of their minds.

[SouthPaw]

For example, a 17yo truck with 300K+, a rusted through bed and rusted frame for $8000!


Toyota and diesel owners are out of their minds.

This statement was in reference to a Tacoma that's on craigslist..[LOL]

[MrAK]

Same thing with the housing market. I think everyone selling stuff at astronomical prices in Colorado are just hoping some Californian or similarly stoned recent transplant is ready to be parted from their money.

[mattiooo]

As annoyed with it as I am - a free market sets its own prices. If it's an outlier, they won't be able to sell it. If it's market price, then people are paying it. It doesn't matter what the blue book says it should be.

[ChickNorris]

I'm in agreement here & have never understood why folks inflate monitary value with perceived value. When I decide I'm done with something I usually just want it gone. If it has value/use, I do a couple of things:

I usually see if there's a need for it with family, friends, church or school. If so, then it's theirs. Occasionally I have to call it an 'extended loan' -lol

If I'm sentimental or it's a specialty item, I price it so it'll sell to a person who would be specifically looking for said item & knows I'm offering it at fair price/deal. Sometimes if I like them, I knock off a few bucks when they show up to buy it.

Obviously, there are some things that don't work under this general policy.

[kidicarus13]

Everyone knows CA$H Is king therefore less of it is required to by my item because in my experience many people value their possessions higher than my perceived value of their item. See endowment effect.

[Martinjmpr]

Interesting .... WRT motorcycles, what I'm seeing is nearly the opposite. I listed my 2002 BMW R1150R last year for what I thought was a fair price - $3500 - and heard nothing but chirping crickets. Dropped the price to $3k and still no real replies (some obvious scams but nothing else.)

I went to look and saw that in the 10 - 15 year old motorcycle market there is a severe glut of product on the market. I MIGHT be able to sell my bike for $2500 but then I thought "would I really want to sell it that cheap?" At the time I had visions of buying a newer bike but then it occurred to me that (a) there wasn't anything on the used market that appealed to me as much as my Beemer and (2) the bike was worth more than $2500 to ME (for one thing it's in a relatively uncommon color) and no way would I sell it that cheap. So it's still in my garage.

But there is a huge buyers market for used motorcycles out there if you're willing to get one that is 7 or more years old. $3000 - $4000 can buy you a pretty awesome bike.

What's funny to me is that prices for new bikes are insane. $15k - $20k is not uncommon for a major brand large street bike or "adventure bike." To me that's nuts.

[SideShow Bob]

Rant value: 3.5. Trade Value: 4.0

No foul language, no name calling and no blowing your top.

[SouthPaw]

Everyone knows CA$H Is king therefore less of it is required to by my item because in my experience many people value their possessions higher than my perceived value of their item. See endowment effect.

An item is only worth what someone is willing to pay for it and what the seller is willing to sell it for.


Interesting .... WRT motorcycles, what I'm seeing is nearly the opposite. I listed my 2002 BMW R1150R last year for what I thought was a fair price - $3500 - and heard nothing but chirping crickets. Dropped the price to $3k and still no real replies (some obvious scams but nothing else.)

With all due respect, I think you answered your own question on why it hasn't sold. Granite, I have only been selling/buying motorcycles for 10 or so years so take that for what it's worth, but to most people, motorcycles are a pleasure item; almost like a boat. Add BMW in front of it and you've really narrowed down your potential buyers. Just like their cars, most people have to be in the market for a BMW, not just out shopping. No different then Buell motorcycles. I have always wanted one either an XB12, Cyclone or an 1125 series but I know once I buy it, I may be stuck with it for awhile as they aren't a mover bike like the others brands and obviously they aren't made anymore. Until then, I keep waiting for the one that I can't go wrong with price wise.


But there is a huge buyers market for used motorcycles out there if you're willing to get one that is 7 or more years old. $3000 - $4000 can buy you a pretty awesome bike.

Depending on what type of bike you are looking for, I agree with this. If you are a young whipper snapper like myself, this will buy you a 20yo old crotch rocket that has only been wrecked a few times.


What's funny to me is that prices for new bikes are insane. $15k - $20k is not uncommon for a major brand large street bike or "adventure bike." To me that's nuts.

The only BMW bike I've ridden is the S1000RR and while I loved every second of it, I would never pay for one for this reason. Anymore though, large street bikes are completely ridiculous price wise.

[SouthPaw]

Rant value: 3.5. Trade Value: 4.0

No foul language, no name calling and no blowing your top.


Rant value: 3.5. Trade Value: 4.0

No foul language, no name calling and no blowing your top.

[LOL]

Funny thing is, yesterday HR decided to send an email to the management team explaining to us about proper language while working for an energy/construction company.. yes, she is new. I've been doing my best to not use my normal language, especially when going home.

[MrPrena]

FS glock19 gen3 $550 cash or $800 trade value.
I did the cutomized stippling.

Bump

Bump


Bump


Anyone? Weekend bump!


Labor day bump!


*****withdrawn!***** [Mad]

[68Charger]

I don't know why the Toyotas are overpriced, but the Diesels I have some idea...

Price a brand new Diesel truck lately? They start around $40K for a stripped down work truck and go up from there, most packages are over $50K... and they all take DEF fluid, so basically 2 fuel tanks to fill.

I'm not at all interested in paying that much for a hodge-podge urine soaked emissions system (I know it's not the same as urine).... you have re-gen issues and DEF fluid to deal with- and a lot of them have major emissions system failures at 150K with huge price tags to fix- that's why so many people do deletes.
So my pre-DEF '07 Mega cab or my '98 Quad cab 12V are what I prefer- and there's enough people that the newer emissions crap has failed or otherwise hampered their trucks (those that use them like a truck- heavy towing)
Law of supply & demand... there's no more supply, and problems with new $50k+ trucks are frustrating owners, so they look at buying something that worked for them in the past- hence more demand.

I need to sell one of our trucks, will probably be the '07, since we're just not doing that much hauling of hay, horses, etc as we did in Colorado- my wife isn't driving it when we are hauling (she hates the dual disk clutch in my '98). plus my 12v is just dirt simple and easier to maintain.... I'd hate to see my '98 go for less that $10K (I'd really just hate to see it go), even though it has 305K miles. So it really comes down to what Martin mentioned... it's worth that to THEM. They simply don't want to let it go for less than that.

[Little Dutch]

I see a lot of people basing their asking price for items (guns and cars mostly) based on what they see posted on the auction sites or craigslist. Don't get me wrong, that is a great way to base price...if you look at the items with bids and see what the items are actually selling at.

Instead I am seeing people basing their asking price on sale postings with higher-than-new retail cost, with no bids, that have cycled 20 or 30 times on the site, and will never sell. People can ask any amount they want to, it doesn't mean that's what the item is worth.

Example: I could go to gunbroker and post for sale a beat up 1905 S&W .38 for $2000. It will never get a bid, but guaranteed someone on one of the forums sees it and thinks their S&W is worth 2 grand too. "Cause that's the prices on gunbroker"

[Martinjmpr]

I see a lot of people basing their asking price for items (guns and cars mostly) based on what they see posted on the auction sites or craigslist. Don't get me wrong, that is a great way to base price...if you look at the items with bids and see what the items are actually selling at.

Instead I am seeing people basing their asking price on sale postings with higher-than-new retail cost, with no bids, that have cycled 20 or 30 times on the site, and will never sell. People can ask any amount they want to, it doesn't mean that's what the item is worth.

Example: I could go to gunbroker and post for sale a beat up 1905 S&W .38 for $2000. It will never get a bid, but guaranteed someone on one of the forums sees it and thinks their S&W is worth 2 grand too. "Cause that's the prices on gunbroker"

They're doing it wrong. I use GB for prices but I only look at completed auctions within the last few months, and if the auction 'closed" without a sale, I disregard that (for exactly the reason you stated.) By looking at what people actually PAID in auctions, I get an idea of what others might pay. When I sold some handguns earlier this year I used exactly that method and had all four sold within 2 months for what I considered to be a fair price.

[Martinjmpr]

Depending on what type of bike you are looking for, I agree with this. If you are a young whipper snapper like myself, this will buy you a 20yo old crotch rocket that has only been wrecked a few times.

If you're buying a used crotch rocket for $3k you're getting ripped off. Those things are a dime a dozen. $1500 max and if it's been wrecked and reassembled, $700 - $1000. There are too many good bikes out there to spend real money on junk.

It's a serious buyers market out there for used motorcycles.

[mattiooo]

FS glock19 gen3 $550 cash or $800 trade value.
I did the cutomized stippling.

Bump

Bump


Bump


Anyone? Weekend bump!


Labor day bump!


*****withdrawn!***** [Mad]

Yeah - I was surprised that din't sell right away too. [eyeroll]

[Bailey Guns]

Yeah...I get the OP rant. It's even worse here than it was in the Denver area.

The only thing I find more aggravating is the asshole that always wants something for nothing and makes a ridiculously low offer, even lower than the average low-balling CL douchebag.

[SouthPaw]

If you're buying a used crotch rocket for $3k you're getting ripped off. Those things are a dime a dozen. $1500 max and if it's been wrecked and reassembled, $700 - $1000. There are too many good bikes out there to spend real money on junk.

It's a serious buyers market out there for used motorcycles.

I'd love to see what you are buying for $1500 for ANY motorcycle lol. They may be a dime a dozen but they sell like hot cakes around here. I've sold at least 15 of them.

[SouthPaw]

.Also I hate when people constantly answer every question by bumping their ad. If someone asks a question. You could send that person a pm. Then fix your ad. It would help if people would just add the proper info at the beginning.

Getting a tad off topic but I hate when people ask questions when they aren't really interested in said item..
-"What's the round count?"
-"Zero"
-"Ok thanks"
Were you generally interested in buying the item or just taking a survey? Let people who are actually interested in the item ask the questions they want answered.

Oh and can't forget the "Last bump before going back in the safe/Gunbroker!" - Two months later "btt." [Coffee]

[BlasterBob]

Recently sold our 2008 Toyota Tundra Crew Max LOADED. Had about 60,000 miles, absolutely immaculate and totally adult driven. Was sold in two days for $19,500 cash and buyer didn’t even test drive it drive it out of our driveway. I believe the buyer did get a bargain. Had spent all of it’s life in Trinidad so absolutley ZERO rust and a vehicle that age with no rust in Illinois (rust belt,of,the USA) is very rare.

[Great-Kazoo]

If you don't like the price Frugal or not, don't buy it. ;)

I (personally) price stuff to sell, as those who donated to our relocation sale can attest.

However i do agree a vehicle with even 80K is not LIKE NEW. especially when you mention has salvage title [facepalm]

Same for the EXCELLENT condition low mileage (gun, truck, boat) only X rounds, miles etc on it. Then when asked tell me well maybe 2-3 mags fired from me. But not sure what the guy i got it from shot ..................


IF you're not the original owner it's not LOW MILEAGE. UNLESS it's in the box, spotless, minimal if any brass marks etc.



FWIW: it's not limited to CO. Like Elvis, it's everywhere. The up side of the local gun show i went to last weekend. NO beanie babies or beef jerky. The tables with PSA AR's for $800 [ROFL3] Glocks for $600, no box 1 mag. Cash n Carry with no BGC means squat when you want $1-400 more for used than new.

[Ridge]

I mean, I don't see a lot of value in taking someone's virginity?

[Zundfolge]

The problem with used car "values" is that KBB is owned by AutoTrader (so they have incentive to inflate the value of vehicles since they facilitate a big chunk of the used market) and NADA is owned by JD Power (who also has incentive to inflate the value of their vehicles so they can sell advertising to car companies for more).

So the prices in the price guides have been massaged and don't really reflect the real market value of things (or worse, they have enough power to distort the market value).

[Little Dutch]

The problem with used car "values" is that KBB is owned by AutoTrader (so they have incentive to inflate the value of vehicles since they facilitate a big chunk of the used market) and NADA is owned by JD Power (who also has incentive to inflate the value of their vehicles so they can sell advertising to car companies for more).

So the prices in the price guides have been massaged and don't really reflect the real market value of things (or worse, they have enough power to distort the market value).

KBB is on crack. NADA is sometimes better, in my limited experience.

Blue book of gun values calls the importer of the firearms for the current value every year. They print whatever the importer thinks it should be. Very little of the blue book stuff is an exact science.

[Irving]

I don't think insurance companies have used KBB to value vehicles for at least ten years now. Not sure about NADA.

[ray1970]

I’ve been looking daily for about three months for a decent deal on another motorcycle. Zero luck so far. I have actually seen better prices on used bikes at local dealers than I have from individuals lately.

[CS1983]

While we are complaining, I'd like to thank ya'll as a forum for being cool about payment methods and such as I have experienced both as a seller and buyer here.

I've been spending more time on archerytalk lately to scour for good deals. Their forum exchange rules are quite strict and selling there is a pain because paypal has to be regular, not friends/family. A lot of guys are basically giving things away once paypal takes their cut, shipping is factored, and tire kickers have done their rounds.

[Irving]

How can they tell what method you use?

[CS1983]

If nothing goes wrong, they can't. But if you never receive an item and bring it up to the mods, or a buyer states you sent a damaged product and didn't, etc. they apparently will not help mediate if it was a paypal friends/family method.

I haven't experienced any issues on there, but it's definitely much less laid back than transactions here.

[Hummer]

It's good to know a realistic value for what you're selling and buying. My practice is to look for the bargains and offer honest good deals for things I want to pass on. I personally think it's a waste of time to price something higher than the going price unless there's something special about the item.

My wife's Camry and Corolla were both high mileage but brought 2.5 & 3 times dealer book value because of their condition. People are willing to pay for honest value and the Toyota brand is value.

In the past few years I've made many fairly major purchases off Craigslist, a pottery studio, orchard and winery equipment, and Danish/Scandinavian furniture, appliances. Most were like new for 10-15 cents on the dollar. I've also sold a lot of older furniture for cheap just to get it out the door, and it adds to the net gain. Used furniture is worth about as much as used underwear. I don't care if Madonna designed the stains. Why waste time on a $20 or $100 item? I usually pay asking price for things priced fairly, and seldom dicker because I don't bother with people who price items unrealistically. In the past 18 mo., I've replaced much of the old furniture in our cabin in 17 separate buys for about $1500 net. Nice Scandinavian furniture that originally sold for ~$20K+.

Recently sold a cider mill and wine press for $650, half it's new price. But 12 years ago I bought it off CL for a cord of apple wood.

On this forum I've sold one item and bought six. I've been pleased with every transaction. Good people here.

[MrPrena]

Yeah - I was surprised that din't sell right away too. [eyeroll]

LOL. After reading your comment, I thought for a second you posted a glock similar to my made up examples.
I checked 5 pages of TP. :)





Now going back to car and firearms.

Firearm market is very soft right now. Im surprised Some guns are not selling.
If I had the money I would buy every deal I can get hold of.
Currently I would like to buy 4 listed on TP. I just can't go crazy with purchase right now.

As for vehicles, there maybe some temporary (possibly artificial) price increase (perhaps by lack of supplies in the used market or higher demand...don't know and just speculating*) due to this tariff. Again it looks is just a guess.

* you can spend $6000 of your own $$ and purchase a freedonia report or Edmunds next year for actual market analysis.

[Grant H.]

If you're buying a used crotch rocket for $3k you're getting ripped off. Those things are a dime a dozen. $1500 max and if it's been wrecked and reassembled, $700 - $1000. There are too many good bikes out there to spend real money on junk.

It's a serious buyers market out there for used motorcycles.

I have to agree with SouthPaw here, I don't know what you are seeing as available in that price range.

I got offered $4k for my 05 GSXR1000 on the last group ride I did. Granted, it's only got 7k miles on it, but it's also 13 years old.


I'd love to see what you are buying for $1500 for ANY motorcycle lol. They may be a dime a dozen but they sell like hot cakes around here. I've sold at least 15 of them.

I've bought and sold several bikes over the past 2 years, and if they aren't completely thrashed, they sell quickly and for a lot more than $1500.


As for general "for sale" etiquette, a little bit of research goes a long way to getting things to sell quickly. Pricing things fairly based on the market helps move things along. However, notice that I said fairly based on the market.

While I agree with the OP that truck prices are insane, if trucks are selling at those prices (and they are), that is the fair market value of that truck. You just have to decide if you're willing to pay those prices.

[Erni]

Honestly I too have trouble valueing things properly. But a good indicator is when things just dont move, and then I just drop the price until it sells. A few items sold way too fast, meaning I underpriced them, like my old fridges.

Oh, and BUMP!

[RblDiver]

Granite


https://www.youtube.com/watch?v=T6ohx6rXOFw
(Language warning around 22 seconds in)
:D

[Irving]

I thought of that exact scene, but didn't have the heart to post it, especially since he might not watch the show and understand the relationship dynamic between the characters.

[SouthPaw]

I was hesitant to post this thread but I am glad to see that everyone kept a usually touchy/grey area, from going off the deep end. Thanks to everyone who has shared their opinions and comments.

[Fentonite]

Seems like the FMV always works against me - I take a loss every time I sell. I just took a huge loss selling a motorcycle. It doesn’t matter what KBB / NADA lists as the value if nobody is knocking down your door to pay it. So I kept lowering the price until the right guy came along and got a really good deal. I’ve accepted that I’ll never make money selling stuff, I’m just not good at it.

[BPTactical]

One thing I learned on CL- if your item doesn't sell in a reasonable time at your asking price delete the post. Relist it 2 days later at the original price but mark the title as "Price Reduced".
Works damn near every time.

[ray1970]

I had an item I was trying unsuccessfully to give away on Craigslist once.

A buddy suggested I repost it for sale instead. It didn’t make sense to me but he had a theory so I went with it.

Two days later the item I couldn’t give away for free sold for $150.

[CS1983]

I've done the same thing, Ray. I think it has to do with perception of value. Free = something is wrong, not "Ray doesn't want this and wants no hassle getting rid of it"

[SouthPaw]

One thing I learned on CL- if your item doesn't sell in a reasonable time at your asking price delete the post. Relist it 2 days later at the original price but mark the title as "Price Reduced".
Works damn near every time.

I do the opposite. New price = new ad and pictures. Personally, if I see the same item listed for sale for awhile with the price dropping, I assume something maybe wrong with it. I recently contacted a guy about a motorcycle for sale and after talking to him on the phone, it had tons off issues that were not listed in his "runs excellent" ad.

[Great-Kazoo]

I do the opposite. New price = new ad and pictures. Personally, if I see the same item listed for sale for awhile with the price dropping, I assume something maybe wrong with it. I recently contacted a guy about a motorcycle for sale and after talking to him on the phone, it had tons off issues that were not listed in his "runs excellent" ad.

It does run excellent. How long it will keep running is another issue.

[SouthPaw]

It does run excellent. How long it will keep running is another issue.

With coolant, fuel and oil leaks, a long time obviously.

[DocMedic]

We've been looking for a "newer" car for my wife, and I was hoping with the recent hail storms people would be selling there dented cars for cheap... Nope.

[CS1983]

What are you looking for?

[Irving]

This year's auto dealers hail sale radio commercials are driving me crazy.

[DocMedic]

What are you looking for?

Early 2000 -'10ish smaller size car, thinking Civic size, sporty? Her current car is a '07 grand Marquis with 210+ on it. It's to big for her to drive comfortably. I like to stay under budget of 2k but that's because I'm cheap. Or guns, have plenty I could trade lol.

[mattiooo]

One just popped up in the Trading Post: https://www.ar-15.co/threads/169755-WTS-reloaded-ammo-boxes?p=2158373#post2158373