TB Classifieds - Am I doing it wrong??

[anyonefortennis]

Is it a mistake to list an item for the price you actually want?

It's starting to feel like buying/selling a used car around here.

If I want something from the classifieds and the price is what I'm willing to pay I PM the seller saying "I'll take it", otherwise I move on. If I decide it's been too long on an item I want to sell, I post a lower price on the thread.

I got a bass listed for $1200 here. The exact same bass sold here for $1200. I have about 5 offers for $1000. Do I need to list for $1300, get the $1100 offer, say $1200 to meet in the middle?

What am I missing here?

[chokeslam512]

Unfortunately value is in the hands of the buyer. I am trying to sell an amp on my local CL and have gotten nothing and I believe it is a fair price but apparently I'm the only one.

[superbassman2000]

Originally Posted by anyonefortennis

What am I missing here?

a lesson in economics?

[anyonefortennis]

Originally Posted by superbassman2000

a lesson in economics?

Enlighten me, Adam Smith.

[superbassman2000]

People will pay for things what they think they are worth --A. Smith


ok, that's not a real quote, but I also notice you didn't say you were firm in your prices on your current listings, so factor that in.

Also, for used instruments, there is no standard for pricing, so you can ask 1200 for a bass all you want, but if you can't find a buyer who is willing to spend 1200 on it, then it's not worth 1200. maybe to you, but not to everyone else lol
It goes along with what I was saying in that overpriced vintage fender thread that was popular a few weeks ago. A guitar shop can ask 35K for a 68 Jazz, but that doesn't mean they are worth that, because if they were, it wouldn't be for sale, it'd be sold. That would be the economics part of it--The invisible hand of the market theory, which coincidently is what Adam Smith pioneered in his book "The Theory of Moral Sentiments"

[anyonefortennis]

All good points. The listing was for 1200 since the last 5 string bongo that sold here went for that, just 20 days ago. Maybe he was the last man willing to pay that much.

[Staccato]

Disagree with the idea that all buyers offer what they're worth. That's what people do that are interested in doing the right thing. The world has a significant population of those that are not interested in doing the right thing.

One type of bidder makes insulting low offers to get a steal deal, and still another is people that would like to try a bass, and flip it for a profit-when they become tired of it (hence a low offer-not what they already know it is worth).

[Selta]

Here's how I work when I'm putsing through the FS ads...
I look for things I want, only. I used to click on every. single. bass. but that was just a huge waste of time - better spent practicing.
If I find something I want, I look for pictures. If it's an "e-mail me for pics" type deal, I just click out and move on. I have basically everything I want, so I don't want to play games or give the seller hope up that I'm a serious buyer, cos I might not be that day.
If I find it, and it has pictures, and I like it, I check the listing for the sell price. Usually I end up actually reading the title at this point and find out that it's FT only. Click, move on. I look for "obo" "firm" or the lack of either. If there is no qualifier with the price (in your instance, just "A different EBMM Bongo 5HH recently sold for $1200 here on TB so that will be the priced shipped to lower 48.") I throw out an offer, banking on the idea that it's likely open for discussion. Before that, I make sure I know what a good and fair offer it. I rarely lowball - I mostly use eBay to gauge pricing of the current market. I supplement that with TB, but you have to realize that TB is a smaller sample size, but most of the time the prices are more or less in line with one another.
In your particular case, $1200 is not too far out of line to be honest. There's one on eBay right now for $800, and one sold just a few days ago for $1199 shipped. As you point out, there's been a couple that have sold here for $1200. I, myself, can't offer $1200 for a Bongo 5, even though that red is a sexy color.
If you're dead set on getting $1200 from it, I would say put something like "firm" or "non-negotiable" in the listing, that way people know that's what you want. Since $1200 seems to be on the higher end of what Bongo 5s go for, you are going to have to wait until that one person comes along who wants it, in that color and right then.
Good luck with the sell. I by no means represent the whole community, but maybe this input will help?

[SoonerMatt]

In my experience with selling instruments here, the best thing you can do is be patient. However, the instrument is also 3 or 4 years old now so you have to take its age into account, regardless of the like new condition.

[superbassman2000]

Originally Posted by Stacatto

Disagree with the idea that all buyers offer what they're worth. That's what people do that are interested in doing the right thing. The world has a significant population of those that are not interested in doing the right thing.

One type of bidder makes insulting low offers to get a steal deal, and still another is people that would like to try a bass, and flip it for a profit-when they become tired of it (hence a low offer-not what they already know it is worth).

The value comes from the negotiated price, not from the first offer.

[anyonefortennis]

Maybe it's my fault for not editing the original post. In post #21 on the thread I state the price is firm and throwing in a brand new set of strings for it in post #18.

[Selta]

Originally Posted by anyonefortennis

Maybe it's my fault for not editing the original post. In post #21 on the thread I state the price is firm and throwing in a brand new set of strings for it.

I would certainly edit the OP in that thread, if you even can. If not, just closed it and start another one

[anyonefortennis]

Originally Posted by Ray Salamon

I would certainly edit the OP in that thread, if you even can. If not, just closed it and start another one

Edited.

[Pilgrim]

If you want to list for the bottom line price, say so:"$1200 firm."

That doesn't mean people won't make a lower offer - that's always fair. Don't be insulted, because there is no insult meant. It's buying and selling, and you need to get over it.

You can always say no, but if this goes on for six months, I'll be that "firm" price will become at least slightly negotiable.

[electracoyote]

Originally Posted by anyonefortennis

Do I need to list for $1300, get the $1100 offer, say $1200 to meet in the middle?

What am I missing here?

You're missing the aspect of negotiation, a common part of buying and selling used items.

It goes by such colloquialisms as "dickering" or "haggling."

And yes, beyond understanding and having a little more patience for the concept of haggling, you may want to play the buffer game where you list your item a little higher than you're willing to accept, and let the buyer "talk you down" to your bottom line.

Or use the word "firm" as suggested above, and politely reply to inquiries that you're in no hurry to sell, your price is indeed firm. It shouldn't be that hard.

I'm not trying to be mean here, but if you can't play the game or at least have patience for those who do, classifieds are not for you.

[bigfatbass]

Just because it is worth $1200 does not mean there is anyone seeing your ad that wants it AND has the money available. Bongos are a niche market, to put it mildly. I think the only lesson you are not getting here is patience. Your need to sell it has exactly zero bearing on anyones else's need/ability to buy it.

I sold a very nice G&L here a while back for exactly my asking price, because I was willing to wait for the right buyer. Took almost 2 months, but it was worth the wait.

[bassrique]

If it's an "e-mail me for pics" type deal, I just click out and move on.

+1 What poor marketing that is.

[jmattbassplaya]

Originally Posted by bassrique

+1 What poor marketing that is.

On those lines, I find that I get a lot more responses if I include pictures of the gear in my thread.

[Chebass88]

Throw in other stuff to sweeten the deal. $1200 is nice, but maybe include a set of straplocks, a new set of strings, etc. That is ~$70 worth of improvements, so the buyer is getting a "deal".

Put yourself in the buyer's shoes - would you rather pay $1200 for a used bongo or $1000 for a used bongo?

If you price it appropriately, gear moves REALLY fast.

[DwaynieAD]

that fact that you should have to say "firm" is ludicrous, you listed the price you wanted.

you dont go to the grocery store, see a gallon of milk for 3.69 and say i'll give you 3.25

i just ignore lowball offers

getting people who buy from you or sell to you to leave feedback is another headache entirely