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How to price a guitar

Discussion in 'Miscellaneous [BG]' started by graver555, Nov 27, 2013.

  1. graver555


    Nov 6, 2012
    Monticello IN

    "How to determine the value of your guitar:

    Step 1. Enter the amount you paid: $_________ (don't forget sales tax)
    - Congratulations! Your guitar is worth AT LEAST this much. Let's move on.

    Step 2. Enter the full manufacturers retail list price for any accessories, upgrades, or replaced parts: $_________
    - Did you have any of the above professionally installed? Include the labor cost: $_________

    Step 3. Add all amounts from step 1 and step 2 $________
    - We will use this as a baseline. But we're not done yet!

    Step 4. Is your guitar a particularly rare color, like bright pink, or neon green? What about a DIY refinish in camo or EVH franken-stripes? This will greatly enhance the value of your guitar compared to a boring, cliched finish like "black", "natural", "transparent red", or "sunburst". Add 20% to the value.

    Step 5. Is your particular guitar still being manufactured? Current models that are functionally identical do not count. If the maker of your instrument does not currently produce a model stamped with the particular combination of numbers and letters as yours, it is a discontinued model. Add 10% to the value.

    Step 6. Is your guitar
    - a) more than 20 years old;
    - b) older than you, regardless of your age;
    - c) of unknown age but in very poor condition
    If any of the above apply, congratulations! You posess a "vintage" instrument. Add 35% to the value.

    Step 7. Has your guitar had any major structural repairs? If so, good! Glue is widely known to be stronger than wood. Repairs make a guitar stronger, better, and more desireable. The only reason they use wood in the first place is to have something to hold the glue together. There is no need to discount for repairs, Dudley.

    Step 8. Honestly assess the condition of your guitar. Is there any cosmetic damage?
    - If none, your guitar is "Mint"; add 20%
    - If there is damage, would you consider it, "Not that bad"? Skip to the next step.
    - If it is in fact kinda bad, was the damage your fault, or the fault of a previous owner? If previous owner, don't mention it, take pictures from a forgiving angle and skip to the next step.
    - If your fault, was it intentional or an accident? If intentional, congratulations! Your guitar is "relic'd": add 20%
    - If accidental cosmetic damage exists due to your negligence, you really must consider lowering the price. A good rule of thumb is to deduct the amount of sales tax a buyer would pay on a new instrument (calculate this based on full MSRP of course)

    Step 9. Have you previously shown the guitar to other potential buyers who have rejected it based it's condition and/or your asking price? Consider adding 5% to the price and rewording your listing in a confrontational tone.

    Step 10. How badly do you want to sell?
    - Badly: Use the price calculated above along with the phrase "Or best offer - No Lowballers)"
    - Moderately: Add 5% to the price caluclated above, along with the phrase "I know what I have and I know what it's worth!"

    Optional: if using the above method yields a value less than the amount you need for some urgent purpose, just substitute that higher amount and follow with the words, "Firm! Must Sell Today!"

    Good luck sellers!"

    Thought I would share this gem I found today, sorry if its already been posted.