Secondhand value???

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gjb02
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Secondhand value???

Post by gjb02 »

What formula do you use to determine a good secondhand price for things?
Thousands of items go up for sale secondhand/used everyday, and yet there doesn't seem to be a fixed value for worth on any one item.
Here is an example :
21" Television, >5 years old, Black, Good Condition. £40
Calculation :
Take new price £100 (What an average 21" Colour TV would cost Brand New),
minus 50% for age,
minus 10% for colour,
minus 10% for the fact the market is flooded,
minus 10% for the condition.(Not boxed, no instructions, no remote.)
Secondhand Value £20
So how do you determine that a TV worth £20 should make £40?[:0]
The reason I ask is because of the 16V I'm breaking, I haven't got a clue what things are worth secondhand. I know bits are expensive, and people are willing to buy used to save themselves a fortune.
So is it not a sellers market? Does asking £130 ono for a cylinder head seem excessive. Or £30 for 2 'as new' ACAV Vacuums (£35 each).
Have I been scaring potentional buyers away with a less than giveaway price??[:I]
Do people assume that because it's used, it's worthless? At what point should you just leave all of your used items out in the street for the dustman, rather than give them away to people who aren't willing to pay a realistic price for used goods.[V]
No I do not work for C@*h Gene*£$%rs![:)]
Discuss : If something is worthless because it's used how do you determine that all important asking price??
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Post by ActivaV6uk »

Look at the market, that will give you the guide to what you should be charging and that will be coming form the amount of call there is for what your selling.
I’ve sold a lot of 16v engines (1.9 BX type). This is how I priced them: (average market price £300 (£400-£150 depending on condition) these included the wiring loom and often the gearbox.
Engine 1
120k well looked after, reasonable condition pulls well £300
Engine 2
190K well looked after very good power no bad noises £200 down to mileage regardless of the condition
Engine 3
Complete rebuild after it died, everything replaced including the casting sump head casting etc. rebuild done less than 1000 miles ago by fat the best engine ive ever had. £400 sold to a trusted friend as i couldn’t prove the mileage also warranteed for 1 year.
Engines 4,5,6,7
sold for £300 a piece, bar 1 which was "given to a mate for around the £100 mark" (same guy ripped the wife off by £300 at a later date). All these engines were at 100k give or take 4k.
Now there are other engines I’ve sold too.
Activa 2L turbo 8v low mileage FSH £500 (these are very hard to get)
V6 24v from a police 406 now becoming my spare as there is no market and the engine owes me £550.
I’ve sold interiors for £120 and given better ones away. its really down to the market, sell things for that your gut feeling tells you as money becomes more of an issue sell it for cheaper. If something owes you money there is no point in giving it away some one will need it at some point. I also believe in giving mates a break there have been many times I’ve sold things for less than there worth to friends for the simple fact that money isn’t everything you always need good friends.
Andy
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fastandfurryous
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Post by fastandfurryous »

This is very much a case of an item being only worth what someone is willing to pay for it.
For example. 10 years ago, I sold a 1.9D engine. I got £600 for it, as there weren't many available for sale, and there was a demand. Nowadays you're lucky to get £60 for a 1.9D engine, regardless of the condition, as there are so many about.
Equally, I just sold the glass tailgate from a Range Rover for about £150. There's demand for them, and that what this one was worth. Try selling the same component from a Pug 309... £5? if your lucky!
This is one of the reasons I think Ebay is such a good idea. By starting a part at a low price, and giving it a long auction time, the item will find it's own market value for the current market. I often bid on things on ebay, and then see them sell for far more than I think they're worth, evedently the buyer thought the item was worth more than I did. Conversley, when you are the winning bidder, you usually get the item for less than you though it was worth.
The only advice I can give, just as ActivaV6uk has said... research your market, see what other similar items have sold for, and price accordingly.
good luck!
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Post by bxbodger »

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote">? At what point should you just leave all of your used items out in the street for the dustman, rather than give them away to people who aren't willing to pay a realistic price for used goods.<hr height="1" noshade id="quote"></blockquote id="quote"></font id="quote">
At least by getting an unrealistic price, in your view as opposed to the buyers view, you will be getting something back!!
Stuff is worth only what people will pay, and that depends on how much they want it and people often have hugely overinflated ideas of what stuff is worth on the secondhand market.
Some years back I was in need of a cheap car and there was an Astra up for sale nearby-the bloke wanted wanted £500, and In my mind it was worth £350 (metallic gold: not nice!), which is what I offered-in cash then and there. He wouldn't budge at all. I didn't particularly care what make of car I ended up with so went elsewhere and bought something else.
That Astra ended up sitting on his drive for months because he had an overinflated idea of what it was worth.
Had he been sensible after a couple of weeks or so he would have realised it was never going to shift it and dropped the price.
In answer to the question then,what you need to look at is how much YOU would pay for the bits, and how much you need the space they take up if they don't shift- and remember, the asking price is not usually the selling price!!!!
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Post by Kowalski »

Things are worth what people are willing to pay for them and no more.
If you want to know what something is worth, find out what else is on the market, i.e. what you're competing against and price accordingly.
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Post by ghostrider »

I gave up trying to sell Cit bits, in 25years of cit ownership I've only actually managed to sell 2 of my cars one of which is the recently departed GTI Tii, but BXs forget it, I even wound up scrapping my late fathers BX, FSH, 50K absolutely immaculate, best offer was ?100 from some guy in London who wanted it delivered for that! and others I've broken for spares have paid me about ?1.75 an hour for doing it in terms of the bits I managed to sell, I suppose I'm just old and sad but I've better things to do with my time than that.
I'm hoping Vanny wants some of my CX bits for project BX or they are going in the skip too, My trusty '93 BX is going to the scrappers within the month as well, can't give it away round here, but hey this is Yorkshire [:D] [:D] [:D] [:D] [:D] [:D] [:D]
Pete
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Last edited by ghostrider on 22 Feb 2011, 06:03, edited 1 time in total.
DoubleChevron
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Post by DoubleChevron »

NNNNNNNooooooooooooooooooo........... Bad Pete, must not throw out CX parts .... There getting to rare. As dumb as it sounds they will soon be worth something (as there so hard to find).
Same problem here in Australia. Eg: need a new headlight ?? Cheaper to find a whole CX for very little $$$$$, take it's headlights and dispose of the rest :EEK:.
Series II CX parts are worth good $$$ here ... But only to a very few people as only a very few people own Series II CX's.
Just what parts do you have there (let me guess, all big and very heavy which makes them worthless on the world market).
seeya,
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Post by oilyspanner »

I am now noticing that BXs are getting very rare in the breakers yards up here too, parts that I would have junked a few years ago are now worth keeping, all I need is a larger garage[:o)]
So I will keep a few spare struts, steering racks, rads, starters, engines etc etc, I agree with ghostrider about the time/money equation, I have done fairly well on a supply and fit basis though.
Stewart
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Post by JohnD »

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote"><i>Originally posted by oilyspanner</i>

I am now noticing that BXs are getting very rare in the breakers yards
<hr height="1" noshade id="quote"></blockquote id="quote"></font id="quote">
Very true! I enjoy a walk around my local breaker's, which is huge yard. A year ago, it was rare to see a Xantia in there. Last week, I quickly found four of them - all diesels with engines in various states of strip.
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