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How do you decide on pricing, when you sell?

Discussion in 'The Watering Hole' started by kyteflyer, Aug 9, 2013.

  1. kyteflyer

    kyteflyer ~@¿@~

    Jan 31, 2011
    Newcastle, Australia
    Sue
    This is something I always fall over on. I sometimes get the price I want but more often than not, lately, the market does not want to pay what I want for an item.

    So.. what do others do, in order to make that decision..

    a) check ebay?
    b) check sold threads here and in other locations? (but then, the price that something sold for is not always available)
    c) Do some kind of mathematical calculation of depreciation based on price paid and current new prices?

    To be honest, I just guess, most of the time, and usually choose a price around 30% less than I paid.. or the current new price, whichever is the lesser.

    Help! I'm drowning in confusion.
     
  2. Armanius

    Armanius Bring Jack back!

    Jan 11, 2011
    Houston, Texas
    Jack
    I generally see what others have sold the same thing for. Then make adjustments if my gear is older or newer than the same item sold by others. I rarely look at Ebay prices, but check instead on FredMiranda.com, here, MU-43, Rangefinderforum, and GetDPI.
     
  3. christilou

    christilou SC Hall of Famer

    Jul 13, 2010
    Sunny Frimley
    I look on Amazon and see how many second hand ones are on offer and check the price v condition. If I really want to sell I make mine the lowest!
     
  4. kyteflyer

    kyteflyer ~@¿@~

    Jan 31, 2011
    Newcastle, Australia
    Sue
    Wonder what Aussies do. I see sometimes Aussies sell here, but not on amazon and other US locations, the shipping on cameras is horrendous if its even possible, since Australia Post refuses to let us send things with batteries by air. Unless we lie about it. I can't bring myself to do that.

    I don't even know if theres a decent second hand camera market in Australia... theres cameramarket.com.au but that has never been very successful for me
     
  5. Luke

    Luke Super Moderator

    Nov 11, 2011
    Milwaukee, WI USA
    Luke
    I check Amazon used prices like Christilou and price mine usually just below if it's newer and quite a bit lower if it's something a little bit older. You can also get a pretty good read of current values by looking at completed auction prices on eBay......not the asking prices (completed auction searches will show you a range based on condition, what's included, how professional looking the listing or how crazy one nutjob was when he put in his crushing high bid late night after a couple whiskeys.....it's not an exact science, but if what you are selling is common enough, you should be able to find some sort of median price...and then realize that you may need to settle for less than that).

    You could also just query the crowd here and crowdsource the used item's value.
     
  6. Isoterica

    Isoterica SC Hall of Famer

    Dec 6, 2011
    I am not a buy and sell person. I'll say that first, so my method isn't necessarily proven. I have yet to sell on ebay though I have bought there, been there for a decade. I have sold a few large things on craigslist. I sold one item here. How do I figure on pricing? I see what others have sold the same item for [Amazon, eBay] as well as look for what the item is selling for currently. If mine is in better condition than those I see offered, then I go towards the higher end 'completed' [ebay] price but never the highest. I do want to sell. If mine is not in as good condition or if I just want to dump something fast I go lower. If I have accessories, I look at each one, what they sell for both new and used and factor that in. In the case of the Ricoh I could have gone higher, even Popflash said they had sold used ones for almost the new price but I had already gotten the Fuji, impulsively, so I humbly went a hundred lower, gave all the accessories for free, paid insured shipping and ebay fees. Around a 170$ loss for two months use and probably foolish but a great deal for the buyer which Luke is extending in his ad. He could try to sell for more, they are hard to acquire and that camera is awesome. I have to pay the charge bill coming in. I humbled my asking price and from what I have seen here on SC others have marked their prices down.. and down again as well and that isn't including what concessions they are making in PM that isn't posted on the ad. You take your losses when you sell. If you aren't getting bites on your ads then wait a while and try again or be humble and consider what was lost a [sometimes rather high] rental fee. *Added note: I have brand new items for less than they are selling elsewhere and they still aren't going. Of course this is a compact digital camera forum too so probably not the best place to offer these things, but I did just in case there are others like me who like to tinker. Next will be ebay which terrifies me because of all the horror stories. If anyone that is experienced with ebay wants to mentor me.. I would greatly appreciate it. :)
     
  7. kyteflyer

    kyteflyer ~@¿@~

    Jan 31, 2011
    Newcastle, Australia
    Sue
    @ Luke, yes might do that, check with the crowd, on a couple of things.. I'll think on it some more.

    @ Kristen: I'm like you, but I just wont sell on ebay. The thing is, I want to sell locally rather than have to post anywhere, and I just don't trust ebay/paypal and the fees annoy me as well. I have bought a few things there, but usually only from buy it now HK dealers. I once bought from a mainland Chinese source and all that got me was a lot of grief, a dispute and a refund. Wont buy from mainland China again.

    The problem is that I don't buy and sell either... or rather, I buy, and keep. But I'm looking at my growing camera collection and think to myself that its just crazy having all that stuff, and not even using a lot of it. Its been 3 months since I used the K-5 outside the yard, and that was only a guilt thing because it was a few months before that! It does make me feel quite guilty when I know I ought to sell something before buying something else. Right now I am also considering letting the X100 go, but I have no idea what to ask for it, there wont be a case for it, but I'd throw in the artisan and artist neck strap and the little ladybug soft release. I'm also considering letting the GRDIII go, but with that broken battery latch (not the door, the little yellow latch that keeps it in place) I doubt I would even get enough to warrant selling anyway, so that will liekly just end up being a sometimes camera. The XZ-1 is going *nowhere*. Really, its about the K5 and the X100. and a truckload of lenses for the K5.

    sighhh... and then... as soon as I would sell, I would want it again!!
     
  8. Lawrence A.

    Lawrence A. SC All-Pro

    Nov 8, 2012
    New Mexico
    Larry
    Amazon, Ebay, this site and mU-43. I do sell a fair amount on ebay,and, yes, resent their fees, but it is fast and cconvenient for me. Here in the U.S., I always tell them there is a battery in the camera and, if an extra is included, thet basically want to know the contacts are securely in plastic.
     
  9. stratokaster

    stratokaster SC Top Veteran

    886
    Dec 27, 2010
    Kiev, Ukraine
    Pavel
    I usually study used prices and then price my items REALLY competitively. I like my items to go fast.
     
  10. Luke

    Luke Super Moderator

    Nov 11, 2011
    Milwaukee, WI USA
    Luke
    +1.... once I decide to sell, I want it gone (before I can change my mind!)
     
  11. aleksanderpolo

    aleksanderpolo SC Regular

    112
    Apr 18, 2013
    Polo
    Check ebay's recently sold item price, adjust from there. Auction can sometimes be significantly lower so I usually used the item sold through "buy it now" as reference. The completed unsold one would be the high limit.
     
  12. Biro

    Biro SC All-Pro

    Aug 7, 2011
    Jersey Shore
    Steve
    LOL! You and me both. But something is going to have to change soon.
     
  13. wt21

    wt21 SC Hall of Famer

    Aug 15, 2010
    I ignore eBay because I've never sold there.

    I assume a buyer will shop Amazon, so that's my ceiling price, but if you price that high, people can get it on Amazon often quicker and many times with a better return policy (even used).

    I mainly benchmark to FredMiranda. Also look at current sales. I had to hold onto a 9-18mm lens until Oly stopped putting the darn thing on sale!

    Lastly, I adjust the price according to speed of sale desired. Sometimes I want my price and sometimes I just want it gone.

    In general, though, I've found the market has gotten soft in the US. Prices are pinched, and sales take longer, especially with mirrorless systems stuff.

    I just took a bath to get out of m43, but some of my Canon DSLR lens used values have gone up.
     
  14. teacat

    teacat SC Regular

    67
    Jul 27, 2013
    Melbourne, Australia
    Maggie
    Sue - like you I can't bear to get rid of my gear, even if I know the camera is not stacking up to my expectations. Gear remorse LOL. But if I have to sell it on to fund my next purchase (which I do do occasionally) I will check out prices on ebay australia and whirlpool forums and here and a few others and then I list on Gumtree. It's free, it's local and I can usually get a buyer fairly quickly - although that depends what I'm selling. I'm finding that cameras are falling in value faster than I can keep up with, so it's usually not worth my while selling it on, but keeping it and using it.

    The other thing too is that technology is advancing at such a rapid rate that our digitals are relatively obsolete in a few months rather than like film cameras which didn't really change much over the years (IMHO). What you buy today is replaced by a new model six or so months later and that'll have even more bells and whistles.

    I must admit, carrying the G1X around instead of my massively heavy DSLR and accompanying kit is a relief, although the camera still doesn't do what I'm looking for. The day they launch a camera that fits in my hand bag, takes crystal sharp images with the clarity of a full frame DSLR and has a lovely zoom and macro without compromising image quality is the day I stop looking :D Until then, it's a camera for each situation :D
     
  15. kyteflyer

    kyteflyer ~@¿@~

    Jan 31, 2011
    Newcastle, Australia
    Sue
    LOL! Maggie maybe you need to look at the Nikon 1 stuff. Its tiny and the IQ is amazing Its a 1" sensor so not going to be as good as APS... but I don't print much, and I'm not working professionally, nor likely to... so it suits me, weight wise and size wise.

    I advertise on gumtree most of the time, but being unwilling to post things, my market is somewhat contracted. Novocastrians seem to think that Canon is the only DSLR on the planet, so selling Pentax ain't easy. The only advantage I have, I guess, is that I am prepared to travel in order to make the sale, but I will not do it any way except face to face. I'll post to people I know, but not random Gumtree people.

    @wt21, I will look at fredmiranda and amazon but because I can't sell on either, and because US prices probably wont reflect anything of the Aussie market, I'll take what I see with the proverbial grain of salt.
     
  16. teacat

    teacat SC Regular

    67
    Jul 27, 2013
    Melbourne, Australia
    Maggie
    I just had a look at the Nikon 1 range here : Bildqualität | Testberichte | dkamera.de | Das Digitalkamera-Magazin - which is where I screen test all my cameras before I buy them because they have such a brilliant comparison tool. It still doesn't stack up to the G1X, which is performing excellently but still lacks the sharp focus of film I miss so much. The only camera I've ever used that came close to my old film cameras are the medium format cameras but I sure as hell can't afford one of those LOL, even though Sony is touting the RX1R as coming close - but again - the PRICE! Eek!

    I understand what you mean about gumtree and if I stumble across any site in Oz I'll let you know, Sue xox
     
  17. wt21

    wt21 SC Hall of Famer

    Aug 15, 2010
    Sorry Sue. I should have thought about location before posting. GLWS.
     
  18. Andrewteee

    Andrewteee SC All-Pro

    Jul 8, 2010
    I always research Fred Miranda which seems to have the best price references for used gear. I price my gear on the low end of what I find there so it will (hopefully) move quickly. Sometimes there are no price references there or anywhere else so I just ballpark 50% of retail. I also offer to pay for shipping which seems to help encourage buyers. I adjust my price upwards $10-20 to accommodate.
     
  19. wt21

    wt21 SC Hall of Famer

    Aug 15, 2010
    Other thoughts:

    Generally, I look for at least $100 off retail on a used lens (for the $500-$1100 range). If it's a hard to find lens, I might go down to $50-70 off retail. If it's an older lens, or an off-brand, I might look for up to $200-$250 off (example, an older Sigma lens).

    For camera bodies, I generally look for a more aggressive discount. In m43: Take the OMD for example: While it was still $1,000 retail, they were selling privately selling for $700-800. Also, ANY equipment with a history of issues (OMD's bezel crack, X100 SAB, Canon 50mm 1.4 focus motor burn-out) get discounted used.

    Supply/demand come into play. OMDs are for sale all over the place, driving the price down, EPL5 and EPM2s are a bit rarer, and already pretty low priced, so they are seeing less of a discount. I think Panasonic bodies come free with the purchase of a McDonald's Happy Meal. Not sure why, though...

    One thing you might be able to get from FredMiranda, Amazon or whatever your local site is -- see HOW MANY are for sale. One or two? You might be able to price well. Sometimes you'll see just one or two other listings, and one is a ridiculous price. This is actually a great position for you! If you can be patient, price reasonably above the low-baller. Then someone buys the low price one, and the next person who just missed the low-priced listing figures they better get yours quick, before that one's gone too! (just make sure you are the SECOND-lowest price).

    Two pages of listings of used items? You're in trouble, lol. Best option is to be the price leader.

    The one thing you should NOT do, it price intentionally high. This just scares people away. Do some research on the price, take your best shot, and don't let yourself regret the sale.

    If you have multiple items, give a discount for multiple item buyers. Remember, each additional item saves you like $10-25 on shipping, and you are tracking one less package.

    The other thing I'd suggest -- if your item has major knocks and dings, come clean and price low. If it has really, really minor flaws, then list those, and let people know you are interested in "full disclosure" even though the item is mint except for this tiny rub mark near the battery door. Rate your item a 9 or something, and not "like mint" or "like new." I've found people are more comfortable when you do the nit-picky thing for them, and tend to trust you more. There is also less chance of them complaining afterward, and often you get feedback like "they listed a minor scratch, but I really don't see anything at all. Great Buyer!" Over-communication and conservative equipment ratings help your buyer, and in the end help you!
     
  20. olli

    olli Super Moderator Emeritus

    Sep 28, 2010
    Metro Manila
    olli
    I sell very little second hand but when I do I sell to KEH (at KEH.com). I realise I might make more selling directly, but I'm lazy and don't want the hassle. KEH offers decent prices and are a breeze to work with.

    I realise that doesn't help you in Australia (I'm watching the Ashes as I type) but at least KEH will give you a consistent idea of what all kinds of gear is selling for (in the US market.)