All things being equal, if you have a mandolin for sale, and you know the price of one new, but a good price of one used is less clear due to lack of examples, or extreme variation in examplets, what do you feel is a fair ballpark percentage to ask?
Or to give a practical example, if you have a mandolin that sells new for $2000, what would you price it at on the used market in excellent condition?
I'm thinking 70% is fair. $1400 used for a $2000 new mando seems about right to me. Guess it would kinda depend on the demand of the mando in question.
Depends on how collectable it is? Also if the builder is back logged?
If it is a production mandolin you have to take in effect retail vs.dealer cost vs. actual purchased price vs. the market.
If it is a highly desired instrument you can guess about 80% of what they sell for new. If it is a situation like above where a builder is backlogged and the market is scarce sometimes you can get the same price you paid for it. If it is not highly desired instrument your more in the 50 to 60%
Really they are a bunch of variables.
I just recently sold a Killer Colling F mando for 5800 to a gentleman on the cafe.
When they first came out these mandolins were pretty hard to get and used ones was right near the price of a new one $7200 but now since Collings has made them readily available on the market the used price has dropped. You can get a killer deal on used Collings mandolins right now and yes they are great mandolins.
If it's a mandolin from a small hand builder with a significant lead-time for a new one I'd think the mint-used price would be nearer to 90%, or more if they're highly desirable. But an off-the-shelf mandolin would drop closer down to what Mandodon said. Go to Elderly and check out their price structure.
Wye Knot
I really don't want to name the builder as to give anyone offense or anything.
It is a builder who does not deal through dealers, and typically has 3-4 mandolins available at any given time. #Backlog is reasonable for a custom order, 3-5 months from what I understand, and demand doesn't seem super-high over supply.
Because there are very few used examples on the market, I'm not sure how to price this, but I feel I should be fair and careful, because the interested buyer could easily turn around and pick one up new at the builders price. #In fact, I know there is a new one available now because the buyer pointed me to the listing.
Is it a BRW?
If a new one is available, then I'd say go for 70%, if you're comfortable with that. 70% would be probably be low enough to make me think it was a bargain. Anything higher, and the warranty for the new mandolin would look more attractive, and also since you say there's a relatively short wait, I'd think the extra money would be worth it to work with the luthier on personal customizations.
It is not a BRW, but I'm familiar enough with them to know that that example would work well here. Similar supply, demand, lead time, etc.
One thing you could do is just ask the customer what he'd be comfortable paying. Maybe give a counter-offer if you're not comfortable with the figure the buyer comes back with.
One thing to think about is how long ago was the instrument purchased? Did you pay $2000 new and now they sell for $3000 new. Do you sell at the price you paid or the market price? Interesting thread.
I never wanted them all, Just the ones I wanted.....
Post a pic of it and say whats it worth? Thats fair. better than guessing a price for a mandolin that we don't have any clue of the brand or maker.
Mav, sorry for not naming the model and such, but you must understand that this isn't a certain deal I have going, and I wouldn't want a price I state here used against me should my deal not go down and I choose to advertise on the MC classifieds. #It is not a BRW, but it might as well be for the sake of discussion.
I bought the mandolin new in 2002 for 75% of the current market value. #To keep the $2000 analolgy going, I would have paid $1500 new, and since then they have risen in price to $2000. #If I were to sell for 70%, I'd be losing a bit of money my intitial investment.
Sorry for the vagueries. #I admit I am a paranoid man
I bought my BRW from Scotti for what he paid for it....At the time I thought that was fair considering I would have to wait for one to be built...ie time value of money....I still think it is a fair deal and if I were to try and sell mine I would try and get the same price I paid out of it......If Ben were to raise his price I would probably sell mine for somewhere between what I paid and the replacement cost. #Just my opinion!
I don't plan on selling so.......how many licks does it take to get to the center of a tootsie roll tootsi pop?
I never wanted them all, Just the ones I wanted.....
Sometimes that happens.. Just like in Cars as soon as you drive it off the lot the re-sale price goes down.. Now if you by a collectable car and hold on to it for a period of time it will go up and you can make some money.
In other words unless it is a famous builder or a collectable piece or a builder that has since risen his prices. You will more likely lose the intial investment.
Hey I have had to do it before sometimes and take a loss. Sometimes you just got to feed the family.
Just another thought.....What if it is a killer mandolin....Meaning you got real lucky and it was a tone monster. Don't you think that you could demand some sort of premium over one that looked identical but didn't have the tone?
What if it were a two horses from the same mother....One turned out to be a champion race horse and the other a horse on a dude ranch. Is their value the same? They came from the same place?
I don't know either!
I never wanted them all, Just the ones I wanted.....
I am not totally averse to taking a loss, and I believe I could ask more if I waited. Though I am selling this mando to buy a new one, so I might just go ahead and ask for what I bought it for...roughly 75% new value.
I think you're right BenE...if it were way ahead of the norm I wouldn't sell it. In honesty it is basically the same as the new models, which is very, very good, so I can't really play that card.
All a moot point. Just checked my e-mail and the guy said he wouldn't go more than 50% of the new model. Obviously, the mandolin is worth more to me than that.
This was an interesting subject, though.
This is an interesting discussion....Have you ever seen two identical looking mandolins for sale and one was priced more than the other because the tone was better?
I never wanted them all, Just the ones I wanted.....
I really have never seen that, thank God. That would be really hard to tell over the internet. I guess you'd have to be in the store with two used examples. Pretty rare for stores to carry the same exact model used.
I think if a builder tried to price the same model differently based on tone, I don't think consumers would accept that type of pricing.
I think your right....but I could understand it if they did...
I used to sell guns for a living and sometimes you would see two identical models (ususally used)....one would sell at a slight premium due to better wood. It could get confusing fast!
I never wanted them all, Just the ones I wanted.....
I think asking the same as what you bought it for is not unreasonable.
I think I know what it is. No one's mentioned it yet.
Wye Knot
BenE.. yup I have seen and sold used mandolins just alike and one priced more because of the tone. Better tone better mando
Just had a funny thought. You go into a pizza joint, and you ask "How much for a slice of cheese?"
The guy says "$1.50....but you see that one over there...that one costs 2 bucks, it tastes REEAAAALLLL GOOOOOOOOOD!"
Maverick...I think as a buyer I would appreciate that....If I guy told me over the phone he had two of the same models but one sound better and was $100 more I would have no problem. I would want the better sounding mandolin!
I never wanted them all, Just the ones I wanted.....
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