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Is this a profitable idea? Do you have Exp. With this? Please help

C

crozier247

Jan 16, 2011
127
0
30
#1
-Sorry if this is the wrong section but it's hard to classify-

I am browsing the used section on Guitar Centers website and surprisingly there is some pretty fair deals I've seen a few MIM Fenders go as low as mid 200$ range. Before guitar center launched the used section I pretty much only looked on ebay for used gear. I was wondering since the prices seem not too shabby on a few of the guitars on guitar centers used section, would it be easy buying basses from guitar center used then selling them on ebay for a little more then I bought them for to make a profit? Have you ever tried anything like this? because all the MIM's on ebay are higher in price then I have seen on GC used. Please give me any feedback and this is only an Idea I have. Please also include any experience you have or any potential problems I could run into if I was to actually start doing this.
 
#6
OldDog52 said:
Be sure to factor in eBay's current fee schedule, and PayPal fees as well. I recently sold some stuff on eBay after a long hiatus, and their fees seem a lot higher now than they used to be.
Click to expand...

ALOT HIGHER!! It ran me $40-$50 to sell something for $300 bucks a couple of months ago. Not worth getting on eBay anymore. Not for selling at least.
 
#7
This can even make you poorer in a subtle way - you'll think you made $ while you will actually have lost a bit on each sale (if you do make a sale). You'll walk around thinking you're doing "business"... All the way to bankruptcy.

Do you really think you'll outsmart GC and eBay combined?
 
#8
OldDog52 said:
Be sure to factor in eBay's current fee schedule, and PayPal fees as well. I recently sold some stuff on eBay after a long hiatus, and their fees seem a lot higher now than they used to be.
Click to expand...

+1. Also, there is a good bit of headache involved dealing with e-bay buyers plus time you would have to invest in packing, shipping, tracking shipping, ect.

I really don't think that a major corporation like GC would leave cash on the table by under pricing their merchandise that much under current market value on a regular basis. You might get lucky on a few items, but overall I would bet that the "lower" price is correct after adjusting for condition.
 
#9
-Kramer- said:
I would bet that the "lower" price is correct after adjusting for condition.
Click to expand...

I think you nailed it. The most reasonably-priced used gear at the local GC usually has notable wear and tear on it. It may be cosmetically-challenged to the perfectionist but still play fine though. GC seems pretty savvy when it comes to pricing their used gear.
 
#13
This is all very helpful, thank you all and I'm deciding not to do this. The point of this thread was for me just to explore an idea and hear some feedback but this is all great information thank you guys!
 
#14
Yeah, the GC-to-eBay profit margins would probably be pretty tight I'd imagine. In order to really pull a good profit from that, you'd have to invest a LOT of time and effort into it in order for it to be viable. Just grabbing a bass once or twice a month for $200 and selling it for say, $300 and having to deal with all the questions, tire-kickers, and non-paying "winners" might not be worth it in the end.

Probably the best options these days is to browse Craigslist for awesome deals and then flipping it. Get a Rickenbacker for $600 and sell it for $1200, or something along those lines. Even then, you still need to be on top of things, since obviously awesome deals don't stick around forever.
 
#15
The first rule of business is to not disclose what you are trying to do in an open forum where others could steal the idea and compete against you.

As far as your larger question is concerned, most of the GC used gear deals are not that great. There are a few exceptions, but most of the time you get a better deal from a private seller.
 
#17
Even after considering all the costs and such, a huge part of it is supply and demand. Not many things are selling quickly. I have a friend that does stuff like this regularly. He buys from all over the place and sells for profit but only because he deals in a market that is seemingly unaffected by the current economic situation.
 
#18
I buy and sell about 30-40 guitars and basses a month. Right now I have about 25 parted out in my room. It has been slow recently.

$250 for a MIM Fender is average. You won't make any money on that, ESPECIALLY on Ebay. They are now collecting fees on shipping as well. Add that to 11% of the final value and roughly 3% Paypal every $250 MIM you sell would dock you about $25-$30.

I've been doing it for years. It's fun stuff, but it's a terrible pain on Ebay and you spend more time in fear and stress of the wrath of ornery buyers, mis-communication, shipment damage, and scammers.

Flipping a $250 MIM will be a waste of your time. Parted out a MIM in near-perfect or perfect shape might bring in $300, depending on color. After time listing, packing, and shipping you'll break even, if you're lucky.
 
#19
Newer models ('09 and up) might bring in $20-$30 more...but it's still little consolation. If you see one with a Hard case or one going for $200 by all means, jump on it.

There will be some in this thread who will tell you that making $100 on a flip isn't good enough. Don't listen to them.
 
#20
I would not recommened it. I'm in the middle of a similar process and its too much of a hassle. Not to mention that people these days can get desperate for money, so you might have tons of people beating your price just to get money. That's been my case. Now people expect me to sell at that price and I would lose money. I'd say unless your getting something thats almost free its not worth it. The markup isn't worth the hassle, if there is one.
 

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