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Basses that lose a lot of re-sale value

Discussion in 'Basses [BG]' started by skit_skittson, Apr 22, 2002.

  1. skit_skittson

    skit_skittson

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    I have an Ibanez SR885 that I want to sell. You can buy one new from Musicians Friend for $710 but if you look on Ebay they are only around $300-$400. Why such the loss in value? Why would Musicians Friend keep selling the bass or people buying the bass from Musicians Friend when they could get it for such less on Ebay or from someone selling it?
  2. jasonbraatz

    jasonbraatz Supporting Member

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    Warwicks lose alot of value new -> used.

    i bought my brand new thumb 5 NT in 98 for 2200.

    i bought my used 98 streamer stage 2 shipped for 1500.


    oh well, if i buy a new one again it will be mostly custom.
  3. funkycarnivore

    funkycarnivore

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    The ones I can think of right away are G&L and Lakland.
  4. gweimer

    gweimer

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    G&L usually are great buys used.
  5. embellisher

    embellisher Holy Ghost filled Bass Player Supporting Member

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    High end basses are even more subject to this phenomenon than low priced basses.

    Foderas usually lose 25%+ of their value if resold, Pedulla's 30-40%, and Alembics often over 50%, especially the ones that list over $5000.

    All the more reason to buy used, instead of new.
  6. Basso Gruvitas

    Basso Gruvitas Supporting Member

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    Not everyone buys used because not everyone WANTS to buy used. There's something very exciting about getting a NEW instrument. In some cases you can get it with just the right options you want.

    But, there's a lot of financial wisdom in what you say. You save a ton of money by buying USED.
  7. Philbiker

    Philbiker Pat's the best!

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    The reason that this bass is so low value used is that it has the "Ibanez" name on the headstock. Take a look at how well Fender basses hold their value. It's the same with anything, basses, guitars, cars, etc. Different brands will hold their value better than others. :)
  8. rickreyn

    rickreyn

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    This is a fact of life. New is new.
  9. Brad Johnson

    Brad Johnson Supporting Member

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    I hear what you're saying, I've never really been able to understand it though. Unless I had really deep pockets and serious cooties issues, new only makes sense if you can't find what you want used.

    I still haven't seen anything take as big a hit as a custom Alembic. You could have a new $10k bass that you'd have trouble getting $3k for used.

    Must be the cooties problem ;)

    BTW there's something equally as exciting about getting a great used instrument. When I got my Elrick fretless, MTD 635, Lakland, 78 Jazz, etc. I don't think I could have been happier at the time:)
  10. alx564

    alx564

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    This is just my hypothesis on the reason why used Ibanez's drop so low in value:

    I think the reason is since there are so many Ibanez's being sold on the market the seller has to undercut all the other sellers out there if they really want to sell their bass fast. If you do a search on eBay for Ibanez you come up with a lot more results then most other brands and because of this large selection people will keep goin lower and lower........most hoping that the buyers will jack up the price fighting over it.

    In response to why people still buy from Musiciansfriend even though i think the prices are really high is because sometimes you just want new. I've bought two used basses but my next bass I will probably buy will be new just because I've never had a new bass before. Plus buying used can be unpredictable sometimes.

    Just my opinion.
  11. rickreyn

    rickreyn

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    but I covenanted with myself not to buy another new instrument. Taken too many baths.
  12. John Davis

    John Davis Guest

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    I think Alembic's go through the worse(better?) loss of re-sale value.
  13. spatters

    spatters

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    Anything which is available new in its current form will lose much of its value on the used market. This is why (for instance) you will take a bath on a G&L or EB Music Man, while a pre-EB Music Man is worth much more.

    It almost doesn't matter if the newer ones are better or worse: just the idea that something is no longer available is enough to get most people to shell out bucks for it.
  14. Eilif

    Eilif

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    I know that carvin's lose alot of value used. Probably b/c they are custom option, and not quite as big a "name".

    I think that alot of loosing value is based on a couple of things (note: I could be wrong)
    1) How long you are willing to wait to sell it. If you put out an ad or use consignment, and wait a while, you will probably find someone to buy it.
    2) Name recognition. Fender, Ric, Musicman, these bassses are instantly recognizable by both name and type. Other brands without as much ( instant) recognition won't be quite as desirable. Example: a ernie ball only makes 3 different basses, and they are instantly recognizable and have always been. An ernie ball will lose value, but not as much as a given Ibanez or ESP, which is one of many varienties, none of which have probably been around enough to create (instant) instant recognition. There are of course exceptions.
  15. Munjibunga

    Munjibunga Total Hyper-Elite Member Gold Supporting Member

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    If you're looking for a good investment, stay away from insurance policies, diamonds, and bass guitars. I've never bought a bass thinking about resale. When I buy it, I plan to keep it. But I'll bet I can get more for my Fender Roscoe Beck than I paid for it ($640 used). Not true for my Laklands, Pedulla, or Stingray. Possibly I could get close to what I paid for my Fender Jazz FMT.

    Keep in mind that a dealer pays half of list or less for the new basses you see on the wall. The instant you take it out the door, you're going to have trouble getting much more than that. Think about it. I usually pay 60 to 65 percent of list for new basses. Why would I pay you that much for a used one? Fifty percent of list is going to be in the ball park for a perfect used bass.
  16. rickbass

    rickbass Supporting Member

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    I've seen that said about Carvins but found it to be more rumor than fact. When I was going to put one on the used market and was checking sold Carvins on eBay so I could decide on setting the price, I found the "low Carvin resale" rap to be a myth. What I found was they may not do as well as Fenders or Stingrays but you certainly don't take a bath like selling an Alembic or even worse, a true custom.

    A big part of the reason Ibanez sellers take a big hit is twofold, IMO;

    1. The name isn't generally respected
    2. The fact that they have about 40,000 models means that the many, many, lower priced models drag down the higher priced models

    What Brad Johnson says about the thrill of getting a great used bass is interesting because it shows how different buyers are. While getting a great used bass would certainly be a buzz for me, there still remains a feeling that we're buying what someone else is rejecting or what isn't good enough for someone.

    Even if the bass received great care, there are certain unavoidable cosmetic flaws such as surface scratches that take some of the excitement away for some people.

    Often, there's the fact that the warranty is either expired or isn't transferable to you.

    Still, buying used makes the most economical sense if you know what you're doing. Many people don't know the market and many people don't want to take the time to learn. They buy new and like the assurance they aren't buying someone else's "problem child."
  17. Brad Johnson

    Brad Johnson Supporting Member

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  18. Bruce Lindfield

    Bruce Lindfield Unprofessional TalkBass Contributor Supporting Member

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    I agree with everything Brad has said and this is great advice for anybody.

    But I wonder about the question here - so the poster has answered their own question in the first line - the fact that he wants to sell, is surely a major part of the reason that those Ibanez basses are losing their value.

    If everybody wanted to hang on to them, then they wouldn't lose value? Too simple ?

    As has been touched on - Ibanez just release too many models in confusing numbers - you can't guarantee that the model you buy today, will be around tomorrow or that anybody will know anything about it - whereas the Fender Jazz or P has been around for nearly 50 years and if anything gets closer to the original - you know what your buying and can easily upgrade - whereas with Ibanez you have no guarantee that any upgrades exist or that anybody will know anything about the particular bass when you want to upgrade.....etc etc
  19. brianrost

    brianrost Supporting Member

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    Why buy it from MF:

    1. They want a new one

    2. They want it in a particular color

    3. If noone buys new gear, those of us shopping for used gear are in BIG TROUBLE :eek:

    Why the price drops so much:

    1. No warranty

    2. It's got dings, scratches, the knobs are missing, it's been "modified" using kitchen utensils for tools

    3. The case has been lost or beaten to crap

    4. There are stickers for bands you never heard of all over the body

    5. Nobody likes Ibanez basses anyway :D

    6. The seller needs cash so lowballs the price

    7. On eBay, the buyer has no cash so lowballs

    Think about it, if you were shopping for a USED bass, would you want to pay almost as much as a new one, after all, you're looking for a deal, right?

    On average, the second you leave the store with a brand new bass (or amp), it is worth 20% less than what you just paid for it.

    The funniest thing is that used gear holds it's value way better than new gear. If you bought that bass for $300 used you can resell it for $300 and get all your money back. I've even sold used gear at a PROFIT!!!! :cool:
  20. brianrost

    brianrost Supporting Member

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    A new MIA Precision sells for close to a grand, recent model used ones are about $600. Not any different than the Ibanez example ($700 vs. $400).

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