Emporium: take it, or not?

[Blindspot]

Hypothetical, to try an understand the different pricing philosophies with sellers (myself included):

You list something for $550, which is in the range -within 10% of what the same item has been selling for in the Emporium in recent times.

Someone PMs you an offer for $520.

Take it, or not?

I know it can be more complicated than that, as you may have what you paid for it in mind, differing desires to sell or not, a need for a certain amount of cash to pay a bill or buy something else, but, as a instant decision, faced with that $520 (especially in this economy):

QUICK - What do you do?

[scottlr]

Probably take it, but maybe wait if I just put it up.

[pickaguitar]

It's a buyer's market

[stratotastic]

Depends. What is the item? How long have I had it? What does it mean to me? How adequate is my replacement for it? How fast do I need the money? I've taken half the asking price on some items, others I won't budge on.

[Blindspot]

Just to be clear on my position, I would, in most imaginable circumstances, take it. Bird in the hand is my feeling about it.

[rmconner80]

Unless I am posting something rare or at a stupid price already (happens frequently), then yes, take it. I'd rather sell it right now than hold our for 5 weeks just to get that extra $30.

[derekd]

Seems an easy answer to me. If the offer is close enough to your original price, and you actually want to sell, take it. Do you think another week on the Emporium is gonna get you that extra $30?

[jazzgtrl4]

take the $520. its seems more like you post something for $550 and get an offer for 350-$400

[shredtrash]

Take it. I think most sellers have some wiggle room built in.

[TravisE]

I guess its a percentage thing. On an item that's $500+, $30 isn't that big of a deal and I would take it. When it's a pedal that I bought for $120, priced to sell at $105, and got an offer of $95 (shipped and paypal'd), I don't really want to take that offer...especially since I'm not hurting for the money. Thats very specific because that was an offer I got today. I decided just to hang on. If I leave the pedal on the shelf, that's not gonna hurt my feelings too bad.

[Corinthian]

I'm sure most people list a price above what they have I mind in preparation for lower offers (who doesn't offer slightly below listed price?). We're talking just over 5% lower here, which doesn't seem unreasonable to me so I'd take it.

Economically speaking, how much you paid for it shouldn't be relevant. Emotionally might be a different story but what matters is its future value and what it costs to keep it.

[AmplifyMe]

I think you missed the rest of it.
Here on TGP they will offer $520, you'll say OK (take it), then they PayPal you the money hitting you with the fee also, assume you meant shipped without negotiating.
That is the TGP way!

You can always say no, but most of these guys just push the issue then go back to litigating!
:sarcasm

[amigo30]

I like my deals straightforward.

If I price it at $550.00 thinking that's an honest price, I'd probably hold out for $550.00.

A lot of people just HAVE to get SOME KIND of discount just so they can say they "won". Honestly, that mindset gets on my nerves. The buyer can budge by $30.00 bucks just as easily as the seller can. I'd probably hold my price on philosophical grounds.

On the other hand, if I wanted a quick sale, I'd probably say what the heck...but still be annoyed that somebody is nickel and diming me on a fair price.

I really hate the mindset that has developed that price is EVERYTHING. It's not.

[pickaguitar]

I was raised to always try for a discount.

[popinvasion]

I listen to all offers, even the offensive ones, as they don't offend me. I am always flexible and ease of sale always figures into a transaction for me. And I always offer less than the asking price, its just part of the fun isn't it. What I find strange is when someone is firm on their price and this has happened recently a few times, and in fact even happened while shopping for a car. Why be firm in your price? Seems strange, people like to negotiate.

[saijo]

sell it on ebay,youll get $800

[jguitarnash]

take it-assuming you didnt say FIRM on the original price.


Side note, whats with the guys asking for additional price for shipping? Thats just not cool.

[Gasp100]

I'm sure most people list a price above what they have I mind in preparation for lower offers (who doesn't offer slightly below listed price?). We're talking just over 5% lower here, which doesn't seem unreasonable to me so I'd take it.

Economically speaking, how much you paid for it shouldn't be relevant. Emotionally might be a different story but what matters is its future value and what it costs to keep it.

:agree

[Dr. Tweedbucket]

It kind of depends on how hard it is to get. Rare items usually sell fast if it's a proven good piece and in demand .... usually at a premium. :dunno

Average stuff.... if it's priced the same or higher than what I see on ebay, then forget it :red

[Tom Gross]

In MBA programs, they always have at least one "trick question" where you get it wrong if you calculate in sunk cost. Debt & Asset Capitalization aside, when selling something, it's value is what it is worth to others compared to what it is worth to keep it.

[Honga Man]

Tell the guy who offered you $520 that you'll give him a definite yes or no answer on Monday because you're waiting for other offers.

List it on craigslist for $600 on Friday morning (payday for many folks). If no results from CL by late Sunday afternoon, delete the ad from CL and then sell to the $520 guy.

You do run the risk of the $520 guy changing his mind over the weekend, but look at it this way - if one person is willing to pay $520, there's someone else who will pay that also, if not more.

Good luck.

[michael patrick]

Unless I think I can get the full asking price without an undue wait, I'd take it.

[carbz]

I generally list stuff here at my rock bottom price. I figure I can usually get a little more on ebay even after fees on most stuff. If I had something I was selling for $550 I'd probably go $520 but really depends on my motive. If it were something I bought to make money I'd probably hold out, if just something I am not using anymore the $520 would be fine. Close enough.

[Polynitro]

Ill give you $300

[jimtaka]

I'd respond and ask him/her to meet me in the middle at $535. :dunno

[niersbach]

For me it really depends on what I am selling. If I am already listing something at a huge loss and the guy wants to just beat me down some more because as one poster said "he was raised that way" well they can pound sand. I figure if I own it, its something I really liked, which to me says other people will like it too...which means if I have it priced fairly that it will sell for my asking price.

Tell the guy yeah, the 520 is fine but then he pays all fee's involved...


Like I said it all depends on what it is and how bad of a beating I am taking on it. If its something I got dirt cheap, that is worth 600 and I have 400 into it, yeah I take the 520....dont think this doesnt happen...it does...

[gururyan]

I give and take what I feel is fair. I have paid more than the asking price on here as well as garage sales if I feel they are unknowingly lowballing themselves.

I sleep well at night.

[brlfq]

Hypothetical, to try an understand the different pricing philosophies with sellers (myself included):

You list something for $550, which is in the range -within 10% of what the same item has been selling for in the Emporium in recent times.

Someone PMs you an offer for $520.

Take it, or not?

I know it can be more complicated than that, as you may have what you paid for it in mind, differing desires to sell or not, a need for a certain amount of cash to pay a bill or buy something else, but, as a instant decision, faced with that $520 (especially in this economy):

QUICK - What do you do?

Take it and be done with it.

[Mr. Kite]

counter

[Phil M]

There seem to be a lot of people who think they've got you by the balls simply because you're selling something.

I try not to get offended. An offer's an offer and I'll listen to all of them. I had one recently that was priced fairly at $1400 (probably a $2700-$2800 guitar if brand new) and some guy offers me a grand. I politely declined and told him my bottom line and he keeps sending me offers in increments of $50. I finally just ignored him. And yes, the guitar did sell to a happy new owner.

I like to haggle and kind of expect it but you have to know when you're being unreasonable.

BTW, I would take the offer in the OP. $520 when I wanted $550 seems good to me.

[brlfq]

I like my deals straightforward.

If I price it at $550.00 thinking that's an honest price, I'd probably hold out for $550.00.

A lot of people just HAVE to get SOME KIND of discount just so they can say they "won". Honestly, that mindset gets on my nerves. The buyer can budge by $30.00 bucks just as easily as the seller can. I'd probably hold my price on philosophical grounds.

On the other hand, if I wanted a quick sale, I'd probably say what the heck...but still be annoyed that somebody is nickel and diming me on a fair price.

I really hate the mindset that has developed that price is EVERYTHING. It's not.

Interesting philosophy. You have a right to whatever sales tactics you prefer but in practically every area of life getting a better deal is the idea. We now have a virtually universal "old stuff" sales price system (eBay) that is easily searched and we are able to find out a reasonably certain range of used prices for most stuff. 30 years ago, lots of companies made their money selling books with the prices of used stuff. Now we can look up the latest sales of a used Fender MIM Precision Bass in a few seconds.

eBay and Amazon and the other online auction/sale places have taught us that getting a bargain is usually the result of judicious shopping or haggling. (Not to mention eInsurance, Priceline, etc.) Most folks I know add a bit into their sales price to make sure there is room for the haggler AND the trader.

Again, you can sell stuff on your own terms but it seems to me the vast majority of folks, will be more motivated to buy if I'm willing to deal a bit.

[Tuberattler]

I really hate the mindset that has developed that price is EVERYTHING. It's not.

I'm sorry to say in sales, pricing is everything. Buyers determine market value when they lay down their greenbacks for said item.

Pricing also drives potential purchasers to or away from an item. In today's economy a prudent purchaser as well as a seller will deal shrewdly to enhance one's individual economy, hence their back pocket.

Final price is what the seller will take and the buyer will pay, no more, no less.

However, I do see the point of aggravation with seller's if buyers are being ridiculous or penny pinching just to be cheap. Bargaining for goods between buyers and sellers have been constant in any society since the creation of the world.

Oh, I voted to take the offer.

[whomad1215]

did something similar to a pawn shop. they had an Ibanez PM120 (the $3000 one) in absolutely perfect condition. they had it priced for $1650. offered em $1400 and they said ok.

take a bit less and have it gone or hold on to it for who knows how long to get that extra bit.

[daddyo]

I always figure out the market value and I try to avoid self-delusion. So what if I stuck Seth lovers in the thing, not a great chance I'll make that back. Then I add in any shipping or Paypal fees. Then I'd add 10%. Most people need to feel they won something in their lives. The vast majority of people have sh*t rammed down their throats all day every day so doing a 10% beat-down on me is cheap psychotherapy. But I won't budge past the 10% not even by $1. If I get no takers, then maybe I misjudged the market value - or nobody wants it - like my 1985 Ibanez Proline which was a fantastic guitar but unsellable in 1994 so I gave it away to some teenager who trashed it then lost it:(

[amigo30]

I'm sorry to say in sales, pricing is everything. Buyers determine market value when they lay down their greenbacks for said item.


Yep, but we're talking different things here.

The sellers I'm talking about don't REALLY care what they end up paying..if the price is fair or not. The ones I'm talking about just won't buy anything unless they can make the seller take a discount.

So..If you priced it at 650...and sell it for 630..they'd be happy. But ask 550 for it and NOT give them a discount...and they just won't buy. It's crazy...it's not about the price..it's about the discount...if that makes any sense. Screw em.

Yes, I go through life as a frustrated idealist. I recognize that.

[bigdaddy]

Yep, but we're talking different things here.

The sellers I'm talking about don't REALLY care what they end up paying..if the price is fair or not. The ones I'm talking about just won't buy anything unless they can make the seller take a discount.

So..If you priced it at 650...and sell it for 630..they'd be happy. But ask 550 for it and NOT give them a discount...and they just won't buy. It's crazy...it's not about the price..it's about the discount...if that makes any sense. Screw em.

Yes, I go through life as a frustrated idealist. I recognize that.

You are very right. Everybody wants a discount. The next question is "how do I take that knowledge and use it to achieve my ultimate goal?"

[Hacksaw]

counter

+1

535.00

[cubistguitar]

take it

or depends ( sometimes you don't care if it sells )