gc used gear trading expo this weekend

Discussion in 'The Sound Hound Lounge' started by geddyentwistle, Jan 23, 2012.

  1. geddyentwistle

    geddyentwistle Member

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    did anyone go to the last one??

    is it a waste of time??

    i realize gc is a business and needs to make money, but is this a "we'll give you $900 for your mint gibson les paul custom but take 1% off that PRS" ??
     
  2. TeleBG

    TeleBG Member

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    They offer this every, single, day.
     
  3. Stinky Kitty

    Stinky Kitty Silver Supporting Member

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    Take whatever you think you can sell the guitar for on your own and subtract 50% from that number. If you get anything above that from GC, consider yourself lucky.
     
  4. whitehall

    whitehall Member

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    Not a good place to sell stuff, but often a great place to buy things. I have gotten great prices on used amps from GC in the past.
     
  5. imastratoholic

    imastratoholic Supporting Member

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    I took a really nice Strat plus in to gc just to see what they would be willing to pay out. ~$400. Thanks for your time.... Sold for $900 on CL.
     
  6. dlab

    dlab Member

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    Anyone actually GONE to one of these before?

    Besides screwing you on your trade-in gear, supposedly during the trading expo they set up areas outside the store for customers to trade amongst each other. I'm wondering if it's worth my time to check it out...
     
  7. hilux

    hilux Member

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    I live a few blocks from my local GC, so I'm going to make the pilgrimage down there to see what's what.
     
  8. franksguitar

    franksguitar Member

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    GC is owned by Venture Capitalists so $$$ is in their eyes
     
  9. 67blackcherry

    67blackcherry Member

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    What I might do is "camp" outside, and tell any prospective sellers "I'll offer much more than what they'll pay, let me give you a second offer" just to piss off GC.
     
  10. bsteff666

    bsteff666 Member

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    Be sure to bring a tube of KY Jelly if you are going there to sell.
     
  11. Teleman

    Teleman Supporting Member

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    They typically see what the instrument is selling for on EBay and take 40% off of that.
     
  12. evildik

    evildik Member

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    One of their employees told me that the rule of thumb is that they only pay 40% of what they think they can sell it for. I can understand that there is some lost value the longer they have to sit on it, but even with the time value of money/lost interest taken into account, a 60% profit margin when you are adding no value to what you are selling is pretty hefty IMHO.
     
  13. DrumBob

    DrumBob Gold Supporting Member

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    I think that's a great idea! That's what the "sharks" do at vintage guitar shows. They stand right by the door and ask people coming in carrying guitar cases what they have to sell.
     
  14. mixwiz

    mixwiz Member

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    It's 60% markup. That's different than profit margin. Employee costs, taxes, insurance, marketing etc. I'd be suprised if they make 4% of revenue.
     
  15. Guitar Josh

    Guitar Josh Resident Curmudgeon

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    That's how I got my first VHT Pitbull combo. GC offered the guy $350 for it. I said I'd give him $400 in cash if he followed me to the ATM. Done deal.
     
  16. 67blackcherry

    67blackcherry Member

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    That's what I'm talking about!
     
  17. dlab

    dlab Member

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    I understand GC's trade-in policy.

    What about the trading area they're talking about? Anyone ever score any good trades there? Or is that all a gimmick by GC to get people in the door to sell their stuff back?
     
  18. kensmith

    kensmith Member

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    yes while it irritates me that GC only offers 40-50% of market value for used gear....I completely understand. They have overhead...lots of it and their margins are pretty thin. Volume is their game. Their used gear is usually priced pretty competitively so not a bad place to shop for pedals/amps.
     
  19. Jahn

    Jahn Listens to Johnny Marr, plays like John Denver Supporting Member

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  20. sst

    sst Member

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    Who every said guitar center is marking it up at no additional value that is not entirely true. They are giving you additional value which is their return policy. Something you won't get on craigslist or most ebay sellers.

    Also anybody selling something has a choice to sell it anyway they want. Pawn shops, guitar center, craigslists, ebay etc.

    The choice is generally dictated by how fast you need the money, how much money you think you should get and how much of a hassle it is to sell.

    What guitar center offers is same day cash/check for items with no hassle. You can't get that from ebay or craigslist. Some people want the cash immediately and some people don't want to go through the time and trouble of craigslist and ebay. Therefore they are willing to accept less cash. It is simple economics. If people could very easily get more money through other avenues, guitar center would have no used inventory.

    I have sold all three ways (ebay, craigslist, guitar center) and there are advantages/disadvantages of all three ways. I was very happy with what guitar center gave me for a used ibanez RG2550e prestige. One that had been up on craigslist for over a month with multiple offers for trades of stuff I didn't want. I didn't need the money but wanted to clear up space in my house. I have no complaints.
     

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