Best time to sell music equipment?

[andrewsrea]

I've got a few items for sale in the usual places and was wondering your opinion on what do you believe the best conditions to sell are?

A certain time of year? When the economy is doing well?

The reason I ask is: back in the 70's through the 90's when live music was booming, fall was a great time to sell and then again for a brief time around tax season. Musicians who played their cards right and got booked in the summer, were cash heavy during the late summer lull and eyeing up bookings for post-labor day to post New Years. They (we) would buy up for that, whether it was to replace busted stuff or get than next big thing.

I've come to believe that 'fall' effect is gone.

So what are your thoughts?

[uwmcscott]

I think the best time is whenever you can find a buyer that wants what you have for sale. Not trying to be a smart-ass, just based on my experience. I’ve had items sit on reverb for months when others seems to me moving quickly, and others that I just put out for a feeler that sold within hours during COVID.

Pricing is probably the biggest factor IMHO - if you price it fairly it will generate more interest, especially if it’s on a site like Reverb where potential buyers can sort a search based on price.

What makes people buy things or not is an industry in itself, and even they don’t always have the answers. For example, we are at the height of a pandemic with hospitals becoming overrun in places again, unemployment rising again and banks going out of business, yet the housing market is hotter than its been in years, around here at least.

[mickey]

All I can say is that any time I need to sell something is the worst possible time!

[Lacking Talent]

BEFORE you need the money.

[Gear_Junky]

Great topic! I think the current conditions may have disrupted the "fall effect" (or whatever "effect" may have existed). But by the same token the local pawn shop was cleaned out of all but the junkiest guitars, basses and amps. And I am noticing that certain cheap Squiers that I might consider grabbing for a project tend to be scooped up fast. But there's lots of used fenders and gibsons on CL - I see them from month to month, same guitars, not selling. I think those folks must be like antique car show guys, it's not about selling, it's about showing that you own an antique/vintage item

On the other hand I doubt that now is a good time to be selling a Marshall stack

CL is free, so if you know the target price, just list and see what bites. Or maybe trade.

I agree with Mickey and others. I tend to be a reluctant buyer most times. And when I sell, I don't really need the money, so I am not that eager to accept a lowball.

[Chocol8]

I think the late summer effect was real and in part because a lot of HS and college kids worked during the summer and had cash. I know most of my big purchases in my youth happened in the summer months for that reason. Locally, we used to have Kodak bonus week, a phenomenon long gone, but 10’s of thousands of workers gettin very large checks spurred a big bump across all parts of the local economy for a few weeks each Spring. Now I think they are down to 3-4 employees and I don’t even know if they get paid, let alone paid bonuses (slightly kidding) so the impact is gone.

I do think there is a real lull in the later Fall and Winter as people start to focus spending on Christmas, and then spend a couple months paying off bills. Also, for local in person sales, warm weather and no snow makes the process much more inviting than say whiteout conditions, or a foot of slush on the ground. There is nothing like carrying a big Fender combo down an outdoor staircase covered in a layer of wet ice with slush on top to make you swear off used gear purchases for 6 months!

[MichaelR]

Great topic! I think the current conditions may have disrupted the "fall effect" (or whatever "effect" may have existed). But by the same token the local pawn shop was cleaned out of all but the junkiest guitars, basses and amps. And I am noticing that certain cheap Squiers that I might consider grabbing for a project tend to be scooped up fast. But there's lots of used fenders and gibsons on CL - I see them from month to month, same guitars, not selling. I think those folks must be like antique car show guys, it's not about selling, it's about showing that you own an antique/vintage item

I found this to be true in my area also, the local pawn shop which usually has quite a few over priced guitars is down to pure junk. Also the local shop moved the few guitars I wanted to sell in a couple days in fact the firefly went the first day. I'm hoping to hear some new artists soon featuring the guitar instead of all the digital junk that fills the airwaves now.

[Gear_Junky]

A market is a market, but sometimes, with certain things "on the market" there's literally one buyer out there. I had an old Kay tube amp (little 5-watt, as I recall a Champ copy). Some chap was very happy to get it from me, but I had no other interest.

We had a similar situation when we were buying our house. It was priced a bit higher than we though it was worth (they'd come down in asking price 2 times before we even made offer). We liked many aspects, so we made a lower offer, they made a counter, it went back and forth for the whole summer (and their realtor/friend was acting all wounded and hurt with our offer). During that time I figured that there's no other buyers since they were going back and forth with us. When I submitted my lower offer I included "comps" from the area that had more bedrooms/bathrooms, etc. and had recently sold for less. We accepted an offer that was $10k higher than our initial "target", but after the septic failed inspection we proposed that they repair or discount. They happily gave us $10k off and it was done (around $40k below their initial ask). After that I read up on how septics work and took care of it without any digging, it's been 6 years and it's fine. Sorry about the long story, but the point is: there were no other buyers Some items are just like that.

[Flatline]

I've got a couple guitars and a few pedals I've been dragging my feet on listing for sale. It is just a hassle to deal with people anymore.

[adad]

I noticed a big jump in sales of the stuff I had listed when the stimulus check was given out months back. If we get another I would expect the same to happen. I also notice a jump in sales when tax refunds are handed out. It seems many don't have much extra cash anymore.

[Gear_Junky]

I noticed a big jump in sales of the stuff I had listed when the stimulus check was given out months back. If we get another I would expect the same to happen. I also notice a jump in sales when tax refunds are handed out. It seems many don't have much extra cash anymore.

Great observation. But perhaps also: people don't want to spend money on frivolous items, unless it's "free" money (or a windfall, funny that people perceive their tax refund as a windfall, when it's in fact their free loan to the uncle, paid back without interest).

These "stimulus" handouts are likely very inflationary - once people start "competing" for the same items with all this extra liquidity, prices tend to notch upwards. Which is why my approach is to buy (what I need or was going to buy anyway) BEFORE (at "before" prices). Then put back the "stimulus" money to recharge the "net balance".

But you're right, so I should really dust everything off and prepare those CL listings in time for the next injection

[andrewsrea]

I appreciate everyone's thoughts so far!

To [mention]uwmcscott[/mention] 's point, it depends on what you are selling. Agree and for example, I saw that the Ibanez TS10 Tube Screamer was spiking in interest the other day. I wasn't using mine much and can build a clone inexpensively (I have all the parts on hand, as it is). So I listed it on 10/2 with the original box, the sought after JRC4558D chip and me as the second owner, for $329. Other's had recently sold for $250. It got snapped up in 7 minutes - full price.

BTW the TS10 paid for a replacement Hafler HiFi amp (an SE240 to replace the DH-200 I keep blowing up) and a blown woofer (yep - blew that up as well), with a little left over for other stuff.

[mention]adad[/mention] & [mention]Gear_Junky[/mention] 's point is interesting. Perhaps many find the stimulus checks as found 'fun' money and will spur the market again? Even though there has been significant progress on the bill, the soonest I see this happening is Thanksgiving, given the speed of the Cares Act.

[mention]mickey[/mention] & [mention]Lacking Talent[/mention] : yep - the market seems at its worst, when you need the money. I don't need the money. I think my motivation is a combination of anthropomorphism (treating things as if they are living beings) and mild OCD. I own things that I no longer use (or never used), know they have value to someone out there and would like to see them in a home where they will be appreciated. I also have this behavior I picked up when I had little money and needed my music purchases to no harm my family, which is I need to earn some extra money or make a trade, to purchase new gear.

I also do hang on to music equipment long after I get the notion to sell, which I picked up that behavior from a friend. I also sleep on purchases for a long time, often missing great deals - but I don't recall having much buyer's remorse.

[Mossman]

It's been a while since I sold guitars and gear on a regular basis for fun and profit (ok, it wasn't that much fun or profitable), and most of the stuff I sold went pretty quickly (this was when ebay was the only game in town besides Craigslist for selling guitars), so I never really noticed any particular time that was "best" for selling gear, but sales did seem to pick up a bit as Christmas approached, and if you didn't sell it by Christmas or shortly thereafter, it would probably languish until February or March after people started recovering from their holiday debt.

[Gear_Junky]

...for example, I saw that the Ibanez TS10 Tube Screamer was spiking in interest the other day.

This made me think of one thing: there are some channels on YouTube with lots of viewers. Some of these are music lessons, some - guitar mods and reviews, some are both. With lots of people being at home more, out of work, etc., they are watching more and enjoying their hobby. So once someone like that does a fresh video on a piece of gear, i.e. the TS10, you'll get a spike of interest. Even if it's small and temporary, it will be enough to scoop up the few used offerings out there.

Check Youtube, search for TS10 and sort the videos by upload date. You'll learn something

I like the JHS Pedals channel and I've seen commenters joking about some pedal spiking in price after a review. When you have someone like that, a pedal designer/builder, tell you that a certain old pedal is "great" or "the best", etc., it gets attention.

[golem]

[mention]Gear_Junky[/mention] the TS10 hype is a John Mayer and SRV thing. I see some on Reverb for 500-700 which seems insane.

[voodoorat]

i dunno man i sold like 3 basses and an acoustic in like 3 days just now. except for the acoustic they were all pretty cheap (< $200) but i was still surprised by how quickly everything got snapped up. may go ahead and list a few other things i've been considering selling.

[Gear_Junky]

Speaking of changed circumstances (and fortunes), while some people are obviously hurt and even devastated financially, there are a lot of people who went from working at the office to working at home, meaning they no longer need to commute, which is a bump in disposable income, including not having to buy lunch. And people who took early retirement while the getting was good. Those are potentially your buyers who have more dough AND more time on their hands for hobbies.

I am not trying to say that things are looking good for the economy as a whole, but even during the Great Depression there were people who did better - not just better than others, but better than they did before.

When things get bad (or are perceived to be), there are always "certain items" that sell better.

[uwmcscott]

BTW the TS10 paid for a replacement Hafler HiFi amp (an SE240 to replace the DH-200 I keep blowing up) and a blown woofer (yep - blew that up as well), with a little left over for other stuff.

That brings back some memories. I had a Hafler DH500 that survived 5 or 6 years of college and plenty more years after that, it was a tank and LOUD! I ended up selling it for probably twice what I paid for it - probably one of the few pieces of electronics that I could ever say that about ( if any other! )

[andrewsrea]

Speaking of changed circumstances (and fortunes), while some people are obviously hurt and even devastated financially, there are a lot of people who went from working at the office to working at home, meaning they no longer need to commute, which is a bump in disposable income, including not having to buy lunch. And people who took early retirement while the getting was good. Those are potentially your buyers who have more dough AND more time on their hands for hobbies.

I am not trying to say that things are looking good for the economy as a whole, but even during the Great Depression there were people who did better - not just better than others, but better than they did before.

When things get bad (or are perceived to be), there are always "certain items" that sell better.

I minored in economics in my undergrad degree. You'll find economic events are mostly paradigm shifts like you mentioned. For example, there were quite a few people who maintained or prospered during the Great Depression of last century. For really bad events, it typically has radical shift involved that it ripples through the populace, for example the great depression or even the 2008 recession caused by the sub-prime lending.

As you pointed out for this pandemic recession, their are people who have been crushed, those who have had win-falls and many who have maintained. I can envision a post-pandemic that many of the crushed recover, say like restaurants. Some may be gone forever. I am wondering if this si the death of movie theaters?

[Gear_Junky]

I minored in economics in my undergrad degree.

Funny you should say that, so did I It was always just an interest to me, I like the study/subject, but I have no respect for the "economists" who preside over the disasters that are unfolding (from Greenspan, to Bernank to the likes of Krugman, et al., whadda bunch of scoundrels).

Anyway, I've read fascinating articles about people during the Great Depression, who were not the "fat cats", but were comfortably rich (what true middle class should be in a healthy society). And many of them owned luxury cars of the era - Dusenbergs, Packards, Studebakers, Willys (I can't remember all the brands, they disappeared, and I don't want to verify spelling). And it became rather dangerous to drive them, drawing attention to their financial means, so the cars were garaged, preserved, while the owners drove more modest cars to blend in. Not an obvious change.

Time and again, people who insist that "economics" is purely a science, like math, fail to account for the behavioral, psychological aspect of it. Behavioral economics is my interest. I've been watching the real estate bubble since maybe 2005. I can't say I profited, but I sold a dwelling in time, rented for about a decade, then comfortably purchased a house in rural-ish area with low taxes. But I've learned a lot about realtors and the psychologically manipulative things they are taught to do (many of them don't realize that, they're just adherents of a cult).

I recall that during the Econ courses it was explained that if a buyer and seller agree on a price, then that IS the most reasonable value, something that they both rationally agree to. There was a premise that market actors act rationally in their self-interest. In reality that is very far from the truth, of course. They may strive to be rational, but people are swayed by tropes, propaganda, manipulation (as we learned in the car buying thread).

And then in other cases people DO act in their rational self-interest, totally contrary to what the "brilliant" "chief" "economists" in their ivory towers expected them to do Like now with the "stimulus". People are expected to "spend, spend, spend" - to restart the economy (at least that's the official mantra, most likely not true). But most people already spent the "stimulus" before it was issued, whether on preps or other essentials, or just to cover the loss of income. So it's nothing but a bandaid on a sucking chest wound.

[uwmcscott]

Time and again, people who insist that "economics" is purely a science, like math, fail to account for the behavioral, psychological aspect of it. Behavioral economics is my interest.

I am currently working toward an MBA degree and had an Economics course this past spring. The faculty member teaching it consistently reminded us that Econmics is really all about tellling stories. Sure there are numbers and all that fun stuff, but at the end of the day you are trying to tell a compelling story based on your findings. In fact one of our text's was entitled "Macroeconomic Patterns and Stories" which really boiled it down to the fact that good economists mostly look for interesting patterns and use the findings to tell stories - being careful not to infer causation just because of the numbers.

[Gear_Junky]

Time and again, people who insist that "economics" is purely a science, like math, fail to account for the behavioral, psychological aspect of it. Behavioral economics is my interest.

I am currently working toward an MBA degree and had an Economics course this past spring. The faculty member teaching it consistently reminded us that Econmics is really all about tellling stories. Sure there are numbers and all that fun stuff, but at the end of the day you are trying to tell a compelling story based on your findings. In fact one of our text's was entitled "Macroeconomic Patterns and Stories" which really boiled it down to the fact that good economists mostly look for interesting patterns and use the findings to tell stories - being careful not to infer causation just because of the numbers.

Oh, they'll have you "infer causation", depending on where these students end up. The "stories" they will tell will be dictated by the office they occupy Paul Krugman is one such example. These people are moral chameleons.

[uwmcscott]

Oh, they'll have you "infer causation", depending on where these students end up. The "stories" they will tell will be dictated by the office they occupy Paul Krugman is one such example. These people are moral chameleons.

Actually this professor was a pretty levelheaded dude and earned his keep in the private sector too. I worked for a large state university for 2 decades, and I know the type of individual you refer to, but fortunately they are not the norm anymore. Running a college is a lot like running a business nowadays, and you need to not only compete for students but also prove that your graduates are marketable. That doesn’t happen if you do things the “old way”.

On the contrary this particular class focused on exactly the opposite - and the pitfalls of trying to prove causation.

[nomadh]

I think the late summer effect was real and in part because a lot of HS and college kids worked during the summer and had cash. I know most of my big purchases in my youth happened in the summer months for that reason. Locally, we used to have Kodak bonus week, a phenomenon long gone, but 10’s of thousands of workers gettin very large checks spurred a big bump across all parts of the local economy for a few weeks each Spring. Now I think they are down to 3-4 employees and I don’t even know if they get paid, let alone paid bonuses (slightly kidding) so the impact is gone.

I do think there is a real lull in the later Fall and Winter as people start to focus spending on Christmas, and then spend a couple months paying off bills. Also, for local in person sales, warm weather and no snow makes the process much more inviting than say whiteout conditions, or a foot of slush on the ground. There is nothing like carrying a big Fender combo down an outdoor staircase covered in a layer of wet ice with slush on top to make you swear off used gear purchases for 6 months!

Local powerhouse employers are interesting. Reminded me of a story I heard about that happened when my dad was a kid then later worked for the compny. Rohr industries grew the town from 4k to 30k and the city council was getting a little uppity with the company founder.

To show the impact of Rohr in Chula Vista, the company paid all of
its employees in silver dollars on one payday in the 1950s. Instead of
paychecks, each employee received their share of the 12 tons of silver
coins in individual canvas bags.

It was nuts for a year. And people didn't know what to do with all the coins. The council backed off on whatever it was that spurred Rohr. I even went to the elementary school named after him and so did one of my coworkers.

[Gear_Junky]

A local "city" (municipality) decided to raise taxes on a big company that built its own campus and provided lots of jobs in my town (more like a small city). So they counted the beans and moved right next door - where taxes are lower (this practically doesn't affect anyone's commute). "My offer is nothing".