"Your item is over-priced..."

UnclePsychosis

As if by magic

https://www.thefretboard.co.uk/discussion/159965/optimistic#latest

VimFuego

mikeyrob73 said:

Why has this turned into some kind of shitfest ? 

hi, welcome to the internet.

Jimbro66

When John Sullivan created Only Fools and Horses back in 1981 could he have anticipated that Del Boy would become a role model for 21st century society?

fandango

SimonC said:

mbe said:

Anyone said, "Your item is over-priced..." to a shop?

No, however I have had several well known retailers make extremely insultingly low offers on gear I have attempted to trade in.

They’re a business, not a charity. Whilst the offer(s) might have been insulting to you, it doesn’t sound like it was good business sense for them to have offered more. And you answered their offer with your feet. This issue was extensively addressed on the forum last year. Remember that with the number of guitars in circulation, it’s a buyers market for approx 99% of gear these days.

Blaendulais

imalrightjack said:

I’ve actually been offered £200 more than it’s apparently ‘worth’. 

I don't mind offers, at all, but to be dogmatically told that I’m wrong for the second time by the guy was just annoying. 

Don’t get me started on people’s valuations on trade items which I never asked for...

name and shame 

Wolfetone

ICBM said:

Strat_a_tat_tat said:

You could consider using one of these reply options...

You could consider using the option of simply ignoring the message. Why reply, unless you want to get into an argument or a negotiation?

Or just telling him your absolute lowest price and leave it at that.

Nikc

By putting something up for sale - you are inviting offers - That is the legal process. Please note Offers means offers buy

As to someone coming along and criticising your curtains, well ........................ (nothing better to do?)

prowla

fandango said:

SimonC said:

mbe said:

Anyone said, "Your item is over-priced..." to a shop?

No, however I have had several well known retailers make extremely insultingly low offers on gear I have attempted to trade in.

They’re a business, not a charity. Whilst the offer(s) might have been insulting to you, it doesn’t sound like it was good business sense for them to have offered more. And you answered their offer with your feet. This issue was extensively addressed on the forum last year. Remember that with the number of guitars in circulation, it’s a buyers market for approx 99% of gear these days.

A business has to offer at least 20% less in order to sell at market value, because they have to add VAT to the selling price.

They also have to factor in their time in dealing with the customers (both the seller and buyers), cover the use of their wallspace, and then of course there's yer overheads.... And of course they need to make a profit, or they won't be a business. If they took less than 10% for that, then they'd be losing out.

So, based on that, the most a shop could offer would be at least 30% below m.v.

From that, you could infer that if someone is going to sell to a shop, then they are really prepared to accept less than the asking price for the item.

Similarly with ebay - if someone will pay fees and accept PayPal, then they're prepared to accept less in their pocket.

Some shops will do commission sales, which is an option.

Cols

prowla said:

fandango said:

SimonC said:

mbe said:

Anyone said, "Your item is over-priced..." to a shop?

No, however I have had several well known retailers make extremely insultingly low offers on gear I have attempted to trade in.

They’re a business, not a charity. Whilst the offer(s) might have been insulting to you, it doesn’t sound like it was good business sense for them to have offered more. And you answered their offer with your feet. This issue was extensively addressed on the forum last year. Remember that with the number of guitars in circulation, it’s a buyers market for approx 99% of gear these days.

A business has to offer at least 20% less in order to sell at market value, because they have to add VAT to the selling price.

No, they don’t.  For secondhand goods a business pays VAT on the margin between what they paid for it and what they sold it for.  So if they buy a guitar for £800 and sell it for £1000, they pay VAT at 16.67% on the £200 margin; £33.34 in this case.

crunchman

Cols said:

prowla said:

fandango said:

SimonC said:

mbe said:

Anyone said, "Your item is over-priced..." to a shop?

No, however I have had several well known retailers make extremely insultingly low offers on gear I have attempted to trade in.

They’re a business, not a charity. Whilst the offer(s) might have been insulting to you, it doesn’t sound like it was good business sense for them to have offered more. And you answered their offer with your feet. This issue was extensively addressed on the forum last year. Remember that with the number of guitars in circulation, it’s a buyers market for approx 99% of gear these days.

A business has to offer at least 20% less in order to sell at market value, because they have to add VAT to the selling price.

No, they don’t.  For secondhand goods a business pays VAT on the margin between what they paid for it and what they sold it for.  So if they buy a guitar for £800 and sell it for £1000, they pay VAT at 16.67% on the £200 margin; £33.34 in this case.

That's not a big margin though.  For a shop to survive, they are going to want to be buying it in more like £600.

Cols

Quite possibly, but VAT’s not the primary driver for that.

SimonC

fandango said:

SimonC said:

mbe said:

Anyone said, "Your item is over-priced..." to a shop?

No, however I have had several well known retailers make extremely insultingly low offers on gear I have attempted to trade in.

They’re a business, not a charity. Whilst the offer(s) might have been insulting to you, it doesn’t sound like it was good business sense for them to have offered more. And you answered their offer with your feet. This issue was extensively addressed on the forum last year. Remember that with the number of guitars in circulation, it’s a buyers market for approx 99% of gear these days.

Well I eventually got a discount for paying cash on the item I wanted. The actual discount was more than what I was offered for trade in.....go figure!

brooom

I don't really get the whole "will you sell it for X, if I pay cash"... I mean if anything cash is going to be more work for me as I have to go into the bank to deposit it. Why don't you just transfer it to my bank account.

So essentially I'd be giving you a discount, because you made me work harder??

And I don't mean this like a Seinfeld routine... I genuinely don't get it.

Arjailer

mbe said:

Anyone said, "Your item is over-priced..." to a shop?

In a shop manned by low wage till operators, selling low margin goods (e.g. the local supermarket or corner shop) - no, they have no latitude.

In a shop manned by commission-based salesmen selling higher margin goods (e.g. car showroom, furniture shop, guitar shop etc.) - absolutely - we always ask for a discount. Doesn't always work, but you get it more often than you might expect.

Clecko

Lordy

jpfamps

UnclePsychosis said:

History has shown time and time again that (some) people on this forum (and others) are utterly obsessed with what other people choose to price gear at. There's a thread every second day about something thats "overpriced" on eBay.

Why these people get quite so upset I have no idea. Even if something is overpriced, who cares? 

I never get upset, but I find grossly overpriced gear amusing.

I also think there are plenty of "dealers" out there trying their luck on internet fora, which I do find beyond the pale.

thegummy

brooom said:

I don't really get the whole "will you sell it for X, if I pay cash"... I mean if anything cash is going to be more work for me as I have to go into the bank to deposit it. Why don't you just transfer it to my bank account.

So essentially I'd be giving you a discount, because you made me work harder??

And I don't mean this like a Seinfeld routine... I genuinely don't get it.

I've heard of saying that to shops, dunno why someone would say it to a private seller. Maybe they've just heard it being said and think it's a thing without ever thinking it through?

I've thought the possible reasons a shop would take cash - either they mean they'll pay in full now rather than take finance (so not technically cash, it could be debit card etc.). Not sure how the shop would even benefit from that unless maybe the finance company takes a cut or doesn't give the shop the full money at the start.

The other could be so the shop doesn't have to declare it for VAT but would be surprised if big shops would do something like that but perhaps a small one-off shop would.

brooom

It's possible it might have stuck around for those reasons. But yes it literally brings no advantage to a regular seller. Yet I hear it all the time. I don't mind taking cash, of course, but there's no reason to discount anything because of that.

DeeTee

@thegummy Got it right, for me: "Customer service doesn't really apply when it's just someone selling their own guitar on the internet."

We're not running businesses. We're just moving on a shiny thing because we didn't bond with it, or want to fund a new shiny thing. This isn't the same standard as a retail business. 

Arjailer

brooom said:

I don't really get the whole "will you sell it for X, if I pay cash"... I mean if anything cash is going to be more work for me as I have to go into the bank to deposit it. Why don't you just transfer it to my bank account.

So essentially I'd be giving you a discount, because you made me work harder??

And I don't mean this like a Seinfeld routine... I genuinely don't get it.

It makes sense for shops, where debit / credit cards incur fees that the shop typically absorbs, but yeah, for private transactions cash is not a benefit.