Well ebay and reverb are the same. Low fees and high exposure to get users using. Then when things really take off start increasing fees. Keep increasing fees till only people willing to sell with fees baked in to the price remain. Small sellers find a new platform to sell. Repeat.
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Reverb - best thing ever?
- Thread starter TTA
- Start date
I think this explains much of what i am seeing. Great postLike most things these days, it all comes down to information access and basic economics.
Getting a “good deal” is often dependent on what economists refer to as “imperfect information” in a given marketplace. Fancy way of saying one party in the transaction (i.e either the buyer OR the seller) knows more than the other about what the going price of something currently is.
Time was that good pricing information was only available from paid subscription services catering to specific business abd industry segments. Similar to the multi-listing services used by realtors and rental agencies. Pawn shops had networked pricing database very early on as well. Notice how finding super deals on music gear in pawnshops has dried up compared to what you could find 10-20 years ago?
Here’s what happened: the Internet.
There’s a huge amount of price information readily available to anyone who bothers to look. And it’s also free. So comparison price shopping - and price setting - has drastically cut down on the number of totally clueless buyers and sellers out there.
As a result, the opportunity to get someone to pay more than the average going price of something -or- the opportunity to find someone selling something for significantly less (as in: getting a “really good deal” or a “steal”) is pretty much becoming a thing of the past. Because everyone now has access to the same “good” information to bargain from.
Reverb makes it even easier to check because they provide price trend information on their website.
This is what’s called economic “efficiency” where the bid price and the asking price are essentially equal. It’s extremely easy to buy and sell when the buyer and seller are in close to immediate agreement about the price. And as long as goods and services (and money) flow freely through the system it’s good (“efficient”) for the economy - even if it’s not so good for deal hunters anymore.
Buyers like to think they're getting a bargain. So if you set a price of $185 firm for an item, it might sit and sit. Put a price of $235 and allow offers, someone offering $185 will feel like they're getting a bargain. Setting low prices instead of the always available coupon almost killed JCP.
I bought one new and still have it - poplar body, I guess the neck was okay (mine broke practicing a stage trick) - when I got my Fullerton Jazz Bass in 86 it was like night and day, that Squier was crap seriously. I think this seller is trying to deceive, he’s saying it come with original case, but these didn’t come with a case, just a green box with the Squier logo.
Much better deal making right here in the TB classifieds!
Don't forget supply and demand right now is a little tough. Lots of items either out of stock or unavailable so prices go up on used. Also consider prices of lumber have sky rocketed as well. Quick example is if you have a swamp ash Fender, you simply can't buy a new one any longer so guess where those prices are going to go over time.
I sold a guitar earlier this year and took such a hit from reverb that I am really, really careful about buying gear now.
My first bass was a mexican jazz. Still have it. It actually plays great.
at about 25 years old i might need to sell it on reverb. I am sure the age will add a ton of “mojo” and inflate the price.
Lumber prices are funny. I know locals in the industry and they said there were never supply or production shortages. Of lumber. Sellers just saw an opportunity and began gouging. They said it was a supply issue, but it was not. Mind you, that is domestic. Where some supply would hurt is overseas shipping.
Just that people aren't averse to paying for shipping versus selling on TB where shipping needs to be included will often offset any listing fees. Selling on TB usually incurs a PayPal fee of (coming in August) 3.49% plus $0.49 per transaction versus Reverb and 5% listing plus 2.5% transaction + $0.25 and ignoring the TB membership fee, the difference is something like $45 on a $1000 bass. But if you have to pay shipping with a TB transaction and the $100 is included in the Reverb listing, Reverb saves you money.
I've had terrific luck with Reverb by doing two things:
I'm rarely in a hurry. I often will decide what I'm after and take several months, during which time I'm doing my homework as to the price range for what I'm looking at. I build that range in my mind to where when I DO see something that might be the one to buy, I look at the condition and the price, and now I've got a reasonable idea of whether or not I'm stealing it or they're asking me to pay for the gas while they take me to the cleaners.
Then, I ONLY buy from a real brick and mortar store. Enough bad experiences with individuals or the 'Bob's Bass Warehouse' that is actually some guy with a spare bedroom and a few old axes. Real businesses pay taxes, employ people, and usually have real policies and procedures for shipping, returns, etc. If this costs me a little more, it's insurance I'm glad to pay. I also see if they have a website with contact info, an address, pictures of the place, etc., just to be sure.
I only buy from a person on a local basis, when I can go see the bass and meet the seller, but ONLY local.
I'm rarely in a hurry. I often will decide what I'm after and take several months, during which time I'm doing my homework as to the price range for what I'm looking at. I build that range in my mind to where when I DO see something that might be the one to buy, I look at the condition and the price, and now I've got a reasonable idea of whether or not I'm stealing it or they're asking me to pay for the gas while they take me to the cleaners.
Then, I ONLY buy from a real brick and mortar store. Enough bad experiences with individuals or the 'Bob's Bass Warehouse' that is actually some guy with a spare bedroom and a few old axes. Real businesses pay taxes, employ people, and usually have real policies and procedures for shipping, returns, etc. If this costs me a little more, it's insurance I'm glad to pay. I also see if they have a website with contact info, an address, pictures of the place, etc., just to be sure.
I only buy from a person on a local basis, when I can go see the bass and meet the seller, but ONLY local.
When it comes to finding good deals you just have to keep searching until you find the right deal. Being a multi-instrumentalist I buy more than just Basses. A year or so ago I was looking for a particular keyboard. All the dealers advertise it at $3799 which is way more than I was willing to spend. I kept looking on various dealer sites foreign and domestic and eventually found a B-stock model for $2407 at well-known Florida dealer. The description said it was blemished. I took the chance and it turned out to be in absolutely perfect condition.
More recently I was looking for an acoustic guitar that sells for $1065 at all the dealers but the item has been backordered for months with no estimated delivery date. Over a month ago I placed an order with GC using a 20% off coupon and still have no delivery date. I found a small guitar shop in California that said it was In Stock at an even lower price than GC's 20% off. I placed the order but it was out of stock and they hadn't updated their website. Next I checked Amazon Warehouse Clearance and there was one listed as used with a large blemish for even less than the CA store. I figured it was worth taking the chance since it is returnable. I got it a few days ago and it is in new condition. I can't find a scratch or blemish anywhere.
This may be more difficult to do with highly collectible used items but with new items you can usually find a much better price if you are not in a big rush to buy.
More recently I was looking for an acoustic guitar that sells for $1065 at all the dealers but the item has been backordered for months with no estimated delivery date. Over a month ago I placed an order with GC using a 20% off coupon and still have no delivery date. I found a small guitar shop in California that said it was In Stock at an even lower price than GC's 20% off. I placed the order but it was out of stock and they hadn't updated their website. Next I checked Amazon Warehouse Clearance and there was one listed as used with a large blemish for even less than the CA store. I figured it was worth taking the chance since it is returnable. I got it a few days ago and it is in new condition. I can't find a scratch or blemish anywhere.
This may be more difficult to do with highly collectible used items but with new items you can usually find a much better price if you are not in a big rush to buy.
Bob's Bass Warehouse isn't intended to be misleading. Reverb wants you to name your store when you first set things up. Everyone will be paying taxes on profits if you sell more than $600 come January 2022's 1099K from Reverb / PayPal / etc.
No I wasn’t happy with Reverb as a Business! I wanted to make a simple purchase as a guest they blocked my purchase and said my account was screwed up in someway! First of all I don’t even have an account with Reverb that’s Y I was checking out as a guest then they blocked my ability to check out and then charge my bank account anyway. When I asked them to to cancel the order It ended up on my doorstep! Very unhappy with that kind of service very very unhappy! I did contact them and it was like I was wasn’t even there very unhappy!!
my biggest fear of buying used/vintage is the “why are they selling?” Every instrument regardless of make or price has the potential to be a dog. Bad neck, etc. Can i trust a seller to be honest, or even have the same expectations of quality as me?
same risk for new, but at least i can return or exchange it if i am not happy .
I understand that, but I still have preference for a free-standing store that's often been in business for years instead of a business license with a couple pieces under the bed. But, that's me, that's my comfort zone.
I have been buying musical gear for over 30 years now, since I was a young musician. I have scored good deals on good stuff over the years, largely locally. But Reverb has, hands down, provided me with some of the best deals on some of the coolest and hardest to find things. It was a bit of a godsend when it came out, and better than E-Bay, IMO. Great selection, decent communication interface, and feels pretty secure, as a buyer. Good mix of established brick and mortar shops and independent home sellers. And the fact that it is only for music gear helps weed out some of the know-nothing, I-claim-ignorance chaff sellers that you run into on E-Bay and the like. And, if nothing else, it simply lets you know what certain shops have on hand, so they can be contacted directly for a direct private sale (I do this whenever possible, if we're talking about a brick-n-mortar shop – killer deals to be had this way).
As a buyer, I would say that it has some problems, but they largely aren't with the platform itself, IME. They are the same general problems that are a potential with any online sales platform. Inaccurate descriptions, sleazy sleeps, etc. You need to develop an instinct for these things, and shop accordingly.
One problem that is with the platform itself is the images. They are not very high resolution, and they are a bit clunky to navigate.
Everywhere sucks to be a seller, however. I try to only sell locally or via direct private online sale, if selling at all (rare for me).
As a buyer, I would say that it has some problems, but they largely aren't with the platform itself, IME. They are the same general problems that are a potential with any online sales platform. Inaccurate descriptions, sleazy sleeps, etc. You need to develop an instinct for these things, and shop accordingly.
One problem that is with the platform itself is the images. They are not very high resolution, and they are a bit clunky to navigate.
Everywhere sucks to be a seller, however. I try to only sell locally or via direct private online sale, if selling at all (rare for me).
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This probably isn't the same risk for me: I've been around this for a long time, do most of my own basic setups and maintenance, and I generally have a pretty good idea of what's coming before I press BUY.
I also know where my knowledge stops and living here in Nashville, there are more than a few great repairman for the few times I've needed their experience and judgement, so generally I'm covered, and I always expect any of them to need at least a little tweaking to suit.
Also I'll call to during business hours to inquire about the axe and if I can get real answers to a few questions, that helps a lot. You can tell pretty quick if you're talking to someone qualified . . . . or not.
