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L & M Ripoff

#41
Jonyak said:
If you go in looking for something they don't have, you always get the "we can order it for you."

ya of course you can and then you will charge me more for what I could order it myself for online and it will take twice as long to get to me, if you even call me about it.
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yeah, I'm never ordering stuff from them ever for that reason. I do go there for small stuff - straps, strings, cables, etc... - just because they have a better selection of strings and stuff. I also use the store to check out some bigger stuff, but I've found that looking for gear used has given me the best return in terms of performance to money spent.
 
#43
aqsw said:
Not sure if this is in the right forum or not.
Long and McQuade Canada ripoff.After spending about $8-9 thousand there in the last 6 years, I went there today to order a Fender American deluxe Jazz, using a 4 year old Gibson SG guitar(mint-which I bought there for $1250.00) as a trade.
They offered me $360.00 for a trade in. :eek:Oh well, Kijiijii here I come. I will never step in their door again.

I think I'm going to have to spend an extra grand now and get that Dingwall Super J!!:hyper::D
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Half of "list" is usually what "market value" is on a used piece.
Then you figure that most places on trade ins will give you about 30% of list.
So, $360 may be a bit on the lean side, or they know that SG's just might not be selling much these days.
 
#44
aqsw said:
Long and McQuade Canada ripoff.After spending about $8-9 thousand there in the last 6 years, I went there today to order a Fender American deluxe Jazz, using a 4 year old Gibson SG guitar(mint-which I bought there for $1250.00) as a trade.
They offered me $360.00 for a trade in. :eek:Oh well, Kijiijii here I come. I will never step in their door again.
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Don't feel bad. They offered me $275 for a Godin 5 string that I paid $800 for. Needless to say, I sold it privately and did much better. Also, the buyer got a better deal than if he had bought it used from a store. Win/win!
 
#45
Jonyak said:
If you go in looking for something they don't have, you always get the "we can order it for you."

ya of course you can and then you will charge me more for what I could order it myself for online and it will take twice as long to get to me, if you even call me about it.
Click to expand...

Funny you mention that. I ordered a keyboard at Steve's last week, left a deposit, and they said it would arrive in 2 weeks. Sure enough, 2 days later I get a call saying it's an 8 week wait! :bawl:

It worked out though: they shipped a floor model from their Toronto store and I got it yesterday! :hyper:
 
#46
I have never really had a problem with L&M. Obviously they are going to give you a lower trade value than you could get in private sale as they need to make money on it as well. They are a good store for ordering big name products as they can ship different items from different stores all across Canada and usually get them to you in a couple of days.
 
#49
Moosehead1966 said:
I laugh out loud looking at the prices at L & M, L.A. Music, Steve's etc.
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Good day, eh? :D

This is a huge problem in canadian retail. I love it how the dollar has been at par (+/- 5 cents) for ages, yet the prices still reflect the days when $CAD = $0.70USD.

You don't see this in consumer electronics, for instance. You do see it a fair amount in MI sales. I realize there's a distributor problem at work here, but hey - we live in the internet, post NAFTA age. Don't gouge me when I can check prices in NY or Podunk in 20 seconds or less.

The worst is the book publishing industry. I hate that $19.99US on the back, and $29.99 CAD you sometimes see. It is doubly galling when the book is actually published in Canada.

I realize this has nothing to do with the OP's point. I'm just ranting. :)

Back to topic / to the OP : Not really a ripoff, but a lowball offer.

I would expect a lowball offer from retail or pawns. Sell on Kijiji & stop wasting your time with these guys. You'll get much better $ on a private sale.

-GT
 
#50
GoesThump said:
The worst is the book publishing industry. I hate that $19.99US on the back, and $29.99 CAD you sometimes see. It is doubly galling when the book is actually published in Canada.
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That bugs the hell outta me too. I'm not a huge fan of Amazon but I am really digging my new Kindle. That's leveled the playing field in a huge way. Be interesting to see where it goes.

With large retailers in the music and sporting goods businesses (probably others but these are what I know) you have to consider where the Canadian dollar was when the goods were ordered often six to eight months before they hit the store. That's where the price is determined.
 
#51
jeff arddun said:
With large retailers in the music and sporting goods businesses (probably others but these are what I know) you have to consider where the Canadian dollar was when the goods were ordered often six to eight months before they hit the store. That's where the price is determined.
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Absolutely true. But $CAD hasn't been more than 6 cents away from parity in over a year. Some of the prices here suggest they're looking at the exchange rate from five years ago.

GT
 
#52
GoesThump said:
Absolutely true. But $CAD hasn't been more than 6 cents away from parity in over a year. Some of the prices here suggest they're looking at the exchange rate from five years ago.
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I guess because we're lazy enough not to raise hell and cause change. The big one that gets me are Canadian cell phone rates. A friend of mine had his phone die while he was on a long Cirque tour so he got a temporary phone with Verison in Arizona. Four years later he still has that US phone because he's paying $40 a month for a better plan than I'm paying a minimum of $70 (and often more) a month for. Ever wonder why it's common in the US to pay for usage while in Canada you buy a package of minutes you pay for whether or not you use all of them and if you go over you pay through the nose?
 
#53
aqsw said:
I guess it all comes down to "my fair market value" and" their fair market value" as promised four years ago when I bought the SG. We should of clarified then.
I have learned my lesson, and I apologise for saying rip-off. I should have used a different phrase, but I can't edit it now.
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IMO, you did get ripped off. There is only one definition of "fair market value". Not yours or theirs.

From: http://www.investopedia.com/terms/f/fairmarketvalue.asp
What Does Fair Market Value Mean?
The price that a given property or asset would fetch in the marketplace, subject to the following conditions:

1. Prospective buyers and sellers are reasonably knowledgeable about the asset; they are behaving in their own best interests and are free of undue pressure to trade.

2. A reasonable time period is given for the transaction to be completed.

Given these conditions, an asset's fair market value should represent an accurate valuation or assessment of its worth.

What they offered you was wholesale value. What they promised you was resale value.

f64: The following link lets you know every SG that’s for sale across the US that’s not in a store.
Link Removed
Right now there are 1279 SG's for sale on eBay, CL and other platforms. The average sale price asked (asked on CL isn't what it goes for and the eBay prices move) is from $ 600 to $700.
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Based on on the above, you should have been offered $600-$700. or even the $550 to $650 that was posted. Depending on condition.

Next time, get everything in writing and if they promised "fair market value", include that as well along with the definition.

Obviously, the promise was made to you to get your future business and w/o consideration of how much money they would make on your trade-in. Or consideration of how much time has passed.

I suggest you speak to the manager/owner and explain your situation and let them know the name of the sales person that made the promise to you. Bring him/him some info as far as what SG's are going for on the open market. Ask for the $600 you think is "fair".

Best thing to do is keep cool when discussing the situation. If you have receipts from past purchases, I suggest you bring those along with you to prove that you're a very good customer.
While they may have many customers, repeat customers keep them in business.

Since you were in the process of purchasing more equipment by applying the trade-in amount to your purchase, maybe you can ask for additional discount on the item you were going to purchase? Maybe there's leeway in their new equipment profit margin as opposed to their trade-in value?

Whether you shop there in the future, well, just let them know it's up to them and how they treat you now by resolving this situation in your favor.

Hopefully you can get them to work with you. If you still cannot get them to give you what you were promised, consider it a $250 educational lesson that you paid for the hard way.

Good luck.
 
#54
Well, there's a lot of support for and against me. The final story is, I sold the SG on Kijiji(Canada Craigs list) in two days for $800.00. Went to the only Dingwall dealer in Winnipeg, and it ended up I could of bought 2 1/2 of those Fender American deluxes for what I paid for the Dingwall.( SJ4 Exotic). Money never was the issue. Sometimes when you are promised something and you not only don't get it, but you are treated with disrespect, you have to do how you feel. And now I'm Happy!!
 
#55
Greetings from the North,

Glad it ended well for you. I buy from both sides of the border. And I do a fair bit of business from L&M. But I NEVER trade in gear at any store. Always sell it off if you don't want the trade in insult.

Rezdog
 

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