Correct. Around here, there are a few exceptions. Sadowsky seems to hold north of 60% of retail on a good day. Having said that...Barely any brand has a re-sale value over 60%. Used guitars, on the other hand, sell again for pretty much what you paid for them, provided you looked them up on ebay first.
I think Sadowsky may have moved up from strictly boutique status. But guess what? I've had a thought in my mind lately about moving my main player of 4 years, an NYC Will Lee 4. I'm really getting into my Precision. I'm old, so a few hundred bucks don't matter as much. I thought I'd call the local shops to see about consigning it before I listed it here, save the hassle of shipping/Payal fees. Guess what? They're basically not interested in offering me anything reasonable because they say a bass like this is hard to move.some of them will fare worse (virtually any... 'boutique' bass).
So maybe the vaunted Sadowsky value retention is limited to marketplaces like ours here. I can hardly find an NYC Will Lee 4 For Sale thread that lasts more than a week when the bass is properly priced.