Stunned at abysmal offer for my LP 60's

[Libitina]

I know somewhere in here theres a thread about my LP when I purchased it but, damned if I can find it, even with the filter searches.

Anyway, due to unforseen circumstances for getting an Amp and Cab is going by the by for this xmas. best made plans and all lol.

Looks like I’ll be going doen the Neural DSP road for now, anyway…

because of these 2 unforseen circumstances (the big 3G switch off and a washing machine throwing a wobbly.

I decided to get an offer for that LP 60’s Bourbon burst, stunned and lost for words about how low it is. Less than £900 for a £2300 guitar thats barely been out of its case lol

Stunned…

R

[mattswain]

I assume the offer came from a shop or business?

I know it doesn’t help you any but it might simply be unfortunate timing. Back in the pandemic, supply of guitars was short and you could get premium money for any old plank of wood with a few strings attached. I get the impression that we’ve moved on from there, seeing lots of shops doing discounts as there’s a lot of folks that just can’t afford expensive guitars and that impacts used prices as well. That’s how I see things at least.

If the offer was from a business then you might do better with a private sale if you can put up with the hassle that may come from it

Hope you can get a better price or ideally find plan B that doesn’t involve selling your LP

[RobDickinson]

https://community.justinguitar.com/t/so-i-just-put-a-deposit-down

Whoever is offering you 900 is taking the piss.

[Libitina]

Couldn’t agree more, the RRP is the same today but that is just a joke…

Thank you for the link, I simply coudn’t find that.!

R

[Libitina]

Even so, a very bad offer I feel not even close to what I would expect. !

R

[theoldman66]

Put it on eBay or Reverb for somewhere between 2/3 and 3/4 of the current new retail price (actual price not RRP). If you sell to a business they have to lowball you so they can sell it on for profit.

[LievenDV]

Don’t be discouraged by an opportunistic bid.

This is what my friends and I call “pot shots”

I made some low bids(not so low though) before in the past, offering to contact me in a couple of months if they couldn’t get rid of it and still want to sell.

Sell at a price that seems fair to you, foresee some negotiation margin,
make good pictures, don’t overdo the sales pitch but illustrate its strong points and excellent condition.

As a seller, you have to be patient and don’t cave in at the first offers.
You can’t go too high either, or you’ll fare as some of the home owners here, thinking their house is palace and get burned with a house that doesn’t sell after numerous price dorps

[Elixir1253]

It doesn’t help you much Rachel, but it’s market forces I’m afraid. The same model is still currently retailing for £2,300 at Andertons; which suggests the marketplace prices are not buoyant.

As a “rule of thumb” I gauge a “business’ offer” to buy as being around 60% of what one might expect to achieve from selling to a private buyer. TBF to retailers, they have overheads and need a profit margin to remain a viable business.

That said, “caveat venditor”: selling privately has challenges, as already mentioned by @mattswain , Matt. Rogue agents are available on both buyer and seller sides in the marketplace.

So, how much might a retailer buy-in a new Les Paul (to sell at £2,300) for … … that all depends on the wholesaler chain, but a guitar leaves the factory at around 50% of the retail price, and often less. I only know this having had sight of paperwork left inside a packing box from a guitar I bought 2 years ago. The importer/wholesaler paperwork referred to a few other guitar models made by two well known manufacturers … .

The guitar marketplace is fairly slow currently, one only has to look at the deluge of “Sales” by well-known retailers … Halloween is over, next Black Friday, closely followed by Cyber Monday, then the “C” word in December, preceding January Sales: … all of which are interweaved by Flash Sales …

Cynic, arguably, but will own up to being a realist …

Being simplistic, with no intention to patronise anyone reading this, perceived “value” is in the control of the buyer. To make a market simply requires a buyer and a seller to agree on a monetary value of their ‘trade’. Underpinned by that is another balancing act of; supply and demand.

Sadly, for all sellers, there is currently an oversupply by the larger-volume build guitar marketplace; putting downward pressure on prices to attract buyers. This also affects the resale marketplace too.

All this doesn’t help sell your LP for a price you might be interested in accepting; and I too would baulk at £1,400 write-down. That said, the bulk of a write-down occurs on day 1 immediately after the transaction. (overlooking the “30-day money back” guarantee, which is a separate topic in itself).

I guess by Neural DSP you mean a plug-in, which would seem a workable compromise, while you need to prioritise spending elsewhere in the short-term. I sincerely hope things work out soon for your Amp and Head plans …

[Kasper]

Don’t trade it in at a store, unless absolutely necessary.
The math actually adds up pretty well…

At the used marked, I would never pay more than 70% of new price for a used item. Often less. Because you’re not offering warranty etc. A shop also needs to make a profit. Let’s say their rule of thumb is that 60% suggested by Elixir:

£2300 * 0,7 * 0,6 = £966

Sadly, it’s really expensive to buy music gear from new and then change your mind. I’ve lost more money than I want to know on that stuff over the years

[Tbushell]

If you search for “used guitar crash” on YouTube, there are a lot of videos that claim the used market has gotten much weaker in 2024.

[Libitina]

Sadly I’m all to aware having worked in orders and sales, all good point, all good points. Just taken back a bit. So a few changes need in the interim period. I’ll get a nice speaker and opt for a Neural DSP plugin until I can get a suitale amp.

R

[RobDickinson]

NDSP should have a 50% sale shortly.

Until then have a go with NAM (neural amp modeler)

[Libitina]

And thanks for the initial heads up on those plugins, I’ve listened to vids on everyone.

R