How much do you discount telescope prices when selling second hand?

ozskywatcher (Josie) · #1 22-02-2010, 08:14 PM

Hi all,

Is anyone aware of a recommended rule of thumb for setting the prices for second hand equipment?

I have a couple of pieces of equipment for sale (telescope and mount) which have only been used a few times and which are almost eight months old (when I bought them). I need to get back as much money as I can but want to ensure that the purchaser feels they are getting value for money.

Suggestions would be appreciated (percentage reduction suggestions would be appreciated).

Regards,

Paul Floyd.

casstony · #2 22-02-2010, 09:33 PM

For gear that's not very old and in excellent condition I reckon 75% of current new price is a good deal for the buyer (and a touch on the skinny side for the seller), but it all depends on whether someone is looking to buy at the time you want to sell. For example, there's a near new 17mm Nagler on offer for 75% including post - that's a great deal for someone looking for that eyepiece. Who knows when it'll sell though - we're very careful with our pennies here at IIS

.

leon · #3 22-02-2010, 09:44 PM

About 2/3rd's of the going price is always a good rule of thumb.

Leon

pmrid (Peter) · #4 22-02-2010, 11:56 PM

Having recently had a need to make a warranty claim on a mount, I encountered a reluctance on the part of the original dealer who sold it and the principal Australian distributor to honour the 5-year warranty on the mount since I was not the original purchaser - even though I had the original receipt and the thing was less than 6 months old. Needless to say I was surprised - to say the least.
The problem seems to be the 'grey' importers - people selling direct imports who are not authorised Australian distributors. The principal distributor here doesn't want to be repairing equipment that is in that category - not unreasonably.
So, if the equipment you are buying/selling has been purchased from a grey importer, you cannot be at all sure that it is covered by any Australian warranty. This will have a pretty major impact on perceived value and saleability. I don't want to suggest a figure, but do want to alert fellow IISers to this issue.

Peter

ozskywatcher (Josie) · #5 23-02-2010, 06:08 AM

Thanks,

Regards,

Paul Floyd.

Quote:

Originally Posted by leon

About 2/3rd's of the going price is always a good rule of thumb.

Leon

gmbfilter (Geoff) · #6 23-02-2010, 08:29 AM

Sell it for as much as you can get
Worth is an emotional concept and variable as well
You can do percentage calculations if you sell it not before

casstony · #7 23-02-2010, 09:03 AM

Quote:

Originally Posted by gmbfilter

You can do percentage calculations if you sell it not before

I often do percentage or fractional calculation in order to set the price at which an item is offered for sale.

leon · #8 23-02-2010, 03:16 PM

Hey Geoff, I tried to sell some top Tak gear a short while ago at a very reasonable price, and all I got was some ridiculous offers, where some people here on IIS just wanted to rip me off,

and get it for nothing.

Some of the offers were actually offensive

and an insult to my intelligence.

If you list it at a fair price it should move.

trying to get the highest price is not always the answer.

Leon

gmbfilter (Geoff) · #9 23-02-2010, 03:32 PM

I saw, Leon it was sad
It would be hard not to take offense

I wonder if there are very many real bargains around, its very easy to check out new and used prices and what's selling these days

gbeal · #10 23-02-2010, 05:14 PM

Being a notorious buyer and seller, I reckon let the market decide, same as always.
Yes, you can take offence, but just let it go, if you want to sell or buy and the item is for sale then as long as both are happy, all is good.
I like to get as much as I can for what I am selling, and equally pay as little as I can for what I am buying. I challenge anyone to differ on this, it is human nature.
No offence meant Leon, but the lowball offers are easily dealt with, either ignore them or simply say no. You had the last say in the matter anyway, retaining the items.
It is a sort of self-adjusting sort of issue anyway.
Gary

Miaplacidus (Brian) · #11 23-02-2010, 06:02 PM

Half to two-thirds, in my opinion. I feel sorry for things that aren't being used and I always want them to go somewhere they'll be happy.

Even "LNIB" &c shouldn't command much of a premium either, if you ask me. We all know how much cars depreciate the moment we drive them off the show room floor. There's nothing like knowing you bought it from the shop...

Besides, let's face it, unsold inventory is an invisible impost on the soul. Anxiety, insurance, storage space — these are real costs upon my person, and I am never freer than when I'm free of things, especially things I do not need. Material possessions are like the tentacles that entangled Laocoön. ("The chap who is compelled to lug a corpse a year or two always loses more than the original cost of the deceased; he is sure to find himself tied up with it when some really good things come his way..." Reminiscences of a Stock Operator.)

Incidentally, surely there is a difference between a low-ball offer (even one deemed to be insulting) and a rip-off. Rip-off implies an attempt to deceive someone as to the true value of something, and therefore involves exploiting someone else's ignorance. But when economists talk about asymmetrical information, it almost always favours the seller. It is hard to see how a potential buyer can be meaningfully more informed than the seller.

Artifice and guile are ubiquitous in nature. Admire the disarming, by all means, but you have no one else to blame if you allow yourself to become disarmed.

And Leon, I love you dearly, but let it go...

casstony · #12 23-02-2010, 06:54 PM

You guys are swaying me over - 75% for top condition gear is too much - 50% is more like it. Now if there's anyone out there who'd like to sell a like new C11 for 50% of new price, gimmee a call

. I expect my meesage box will be overflowing by morning

.

taxman (Matt) · #13 23-02-2010, 07:04 PM

Quote:

Originally Posted by Miaplacidus

Material possessions are like the tentacles that entangled Laocoön.

I think I have a man-crush

Barrykgerdes · #14 23-02-2010, 07:23 PM

For me to even contemplate a S/H purchase it would need to be no more than 50% of new price inless it had something else going for it. If you can get 75% grab it.

To value my gear I depreciate it over 5 years. Then anything I can get is a bonus. That is practical.

Barry

DavidTrap (David) · #15 24-02-2010, 06:39 PM

You must consider what the item is currently retailing for, not when you bought it.

eg. I bought a Meade LX90 last year for around $3500. They are now selling for $2795. I think there has been a price drop by Meade and the exchange rate is much better than last year. If I were to sell it now, I think I'd be lucky to get $1750 for it, probably less...

The "entry level" telescopes will always decrease in value faster - the more "high end" stuff seems to hold its value better (based on my observations of the trade pages on this site)

Regards
DavidT

Starkler (Geoff) · #16 24-02-2010, 11:53 PM

Quote:

Originally Posted by Miaplacidus

Even "LNIB" &c shouldn't command much of a premium either, if you ask me. We all know how much cars depreciate the moment we drive them off the show room floor. There's nothing like knowing you bought it from the shop...

The difference is that most gear like telescopes and eyepieces doesnt wear out or deteriorate in the same way that cars do. A five year old apo refractor might be as good as the day it was sold if well looked after.

Quote:

Incidentally, surely there is a difference between a low-ball offer (even one deemed to be insulting) and a rip-off. Rip-off implies an attempt to deceive someone as to the true value of something, and therefore involves exploiting someone else's ignorance.

It could also be an attempt to probe for and exploit a persons vulnerability.

citivolus (Ric) · #17 25-02-2010, 01:11 AM

I always take into account several factors, none of which is the price I paid for it:

-Current domestic new price

-Current foreign new price

-Current foreign used price

-Current exchange rate

-Condition of equipment

My general rule is to try to target a price close to astromart * exchange rate for similar condition and age of gear. If I could buy gear in similar condition for 40% of what I paid for it, I wouldn't expect someone else to pay more than that. On the other hand, if the going used rate is 85% of what I paid, then that is what I will ask. If it hasn't sold after a few weeks, you can always lower your asking price, or re-evaluate its worth to you and decide to keep it

Astromart has a big enough archive of sold equipment that you can usually find something similar that has sold in the past 12-18 months to use as a baseline. If you don't have an Astromart account, feel free to PM me if you want research done.

Regards,
Eric

ozskywatcher (Josie) · #18 25-02-2010, 06:50 AM

Good advice.

Regards,

Paul Floyd.

Quote:

Originally Posted by citivolus

I always take into account several factors, none of which is the price I paid for it:

-Current domestic new price

-Current foreign new price

-Current foreign used price

-Current exchange rate

-Condition of equipment

My general rule is to try to target a price close to astromart * exchange rate for similar condition and age of gear. If I could buy gear in similar condition for 40% of what I paid for it, I wouldn't expect someone else to pay more than that. On the other hand, if the going used rate is 85% of what I paid, then that is what I will ask. If it hasn't sold after a few weeks, you can always lower your asking price, or re-evaluate its worth to you and decide to keep it

Astromart has a big enough archive of sold equipment that you can usually find something similar that has sold in the past 12-18 months to use as a baseline. If you don't have an Astromart account, feel free to PM me if you want research done.

Regards,
Eric

Miaplacidus (Brian) · #19 25-02-2010, 09:39 AM

Quote:

Originally Posted by Starkler

It could also be an attempt to probe for and exploit a persons vulnerability.

Well, that's just *******ry, isn't it? (I'm not going to defend that sort of behaviour, but surely on a forum or in emails or PMs, one can easily choose to refuse to be so probed or exploited. There is no obligation to reply to anyone who is so obviously out of line. Low life exist everywhere, and we'd be swamped if we didn't learn to ignore it without taking it to heart.)

PhilW · #20 25-02-2010, 11:05 AM

Some astro equipment has rarity value or collectible status (think Astro-Physics scopes, FC-series Taks, Vixen fluorites, Zeiss anythings, maybe Questars). So it tends to hold its value reasonably well. Different rules apply for mass-produced dobs. Also, the Australian secondary market is very illiquid, so you might just find that nobody is interested in your stuff, even at a knockdown price.

Wonderful advice from Miaplacidus: watch out for those entangling tentacles!