What should my asking price be?

[guitardustin]

Hey

 

I've been trying to sell my Martin SWOMGT for a little while now and I took your advice about putting it on Craiglist.org and so far i've gotten about twice the responses from anywhere else. My problem is though I think I'm asking waaay too much. It occurred to me today that if I were to be looking for the exact same used guitar, there is no way in hell I'd pay what my asking price is...

 

So it's a Martin SWOMGT, about two months old. Mint condition and has a Fishman Natura Pickup installed by a martin tech and includes the martin molded case....it lists for a bout $1700 and usually goes for about $1300

 

Any idea what I should be asking for it??

 

Thanks

 

Dustin

[Freeman Keller]

Dustin, here are some worst possible case prices.

List per Martin's site $1699

It is usually possible to find new guitars on line or in big stores for up to 40 percent off, so 60% is $1020

That is a new guitar with warranty.

My rule of thumb is a new guitar without warranty should be worth no more than 50 percent of list, $850

Now start factoring in age, condition, playability (is it set up perfectly?) and any structural issues. Lets say it needs a setup - that is going to cost the new owner 35 to 70 plus string, saddle or any other parts - lets just say $100. Some pick wear? Maybe another 50. What is the p/u worth (to me nothing, in fact I would want it out of there, to someone else lets say +50). Is this a desirable model with a bidding war going on? Or a slow mover? To me the SWOMGT is a great idea (and goes along with my personal green streak) but lets face it, it is not an HD-28. That means your audience goes way down - you either need to really push what it is (a great OM sized guitar made from sustainable materials) or take a beating because "it isn't real wood" or a "real Martin".

So what is your guitar worth? Without seeing it I would say 700 and a long wait before it sells. Which brings up a question I always ask - what is it about this guitar that makes you want to sell it?

[da mayor]

How much are you asking for it? What was your cost, not including the Fishman? A dealer I know of says that used guitars in good to excellent condition are generally worth something like 50% of their "street" cost, but I don't think he's talking about something that's only a few months old. Even though it's "pristine" and only a few months old, I would want to see a savings of, at a minimum, $300-400 from what I would otherwise pay new before I'd be tempted. But then I'm just a cheap bastard.

[Freeman Keller]

Dustin, as I recall when you first started talking about where to sell this thing I suggested UMGF. Here is a SWDGT for $700 that has had some interest. (FK feels better about his pricing logic)

http://p082.ezboard.com/ftheunofficialmartinguitarforumfrm3.showMessage?topicID=9580.topic

[guitardustin]

Ok thanks guys

Man the depreciation really sucks though. I'm not selling it because anything is wrong with it, just because I'm leaving for the air force soon and can't bring a guitar and can't leave it home. So I thought I would be able to at least get back a little of what I paid for it. I'm going to actually try to go back to the place I bought it from...the owner is an incredibly nice guy. He might actually sympathize a little.

Thanks though

Dustin

[Freeman Keller]

Maybe he would sell it on consignment for you. Or just put it away - you'll need a git when you get back and you just know prices are going up. Remember as the original owner that warranty is golden.

Good luck, both with the git and the AF.

[Whalebot]

I'll hold onto it for you, keep it company, sing to it.

[Freeman Keller]

Dustin, meet 48729zjd. 48729zjd, meet Justin.

http://acapella.harmony-central.com/forums/showthread.php?s=&threadid=1338237

my commission on this sale is....

[Dave W.]

The problem is selling it so soon after buying it. Like a new car, once you drive it around the block, it's used. This is compounded by the fact that Martin's lifetime warranty does not transfer to the next owner. That is a powerful marketing point. Many people would pay a few hundred dollars more for that warranty even though your guitar hardly has a fingerprint on it. Dollars wise, you are in a very bad spot, you should really work hard at trying to find a way to keep it, otherwise you are going to take a beating. Best of luck, I have a year old Martin nylon that I am trying to sell and am in the same boat. I only got it for 30% off, and had to pay sales tax...ouch. I paid $1600 for it and the best offer I have had is $900.

Dave

[Freeman Keller]

OTOH, when my wife bought my 314 the PO had not registered it, so I got the warranty. Not only do I get "Wood and Steel", the reset will be free. Something to think about if you are not sure you will keep a new git very long.