What is the "standard" for pricing a used guitar?

[PajamasMusic]

I was reading this over in the CF thread and it made me think. I have always ASSumed the general guideline for pricing a used guitar was based on retail price vs manufacturers advertised price (MAP). Without (hopefully) starting an all out war and/or upsetting the delicate harmonic balance of the universe, what say you?

Sorry if the question has been done before. I'm just wondering if I've been over-paying and under-selling all this time. Thanks in advance for your opinion.

[HHP]

For most domestic brands, popular models, 50% of MSRP.

[printer2]

What the buyer will pay.

[PajamasMusic]

Which begs the question, is there a difference between MAP and MSRP?

[HHP]

Originally Posted by Cap'nCrunch

Which begs the question, is there a difference between MAP and MSRP?

Yes. MAP is minimum Advertised Price and is typically lower than MSRP which is Manufacturer's Suggested Retail Price, sometimes commonly called list price.

[PajamasMusic]

Originally Posted by printer2

What the buyer will pay.

Of course, and value is certainly subject to perception, market forces, supply and demand etc. Not to mention the condition of the guitar itself. But which price would one use as a jumping off point? Or does it really matter whether it's "80% of this" vs "60% of that?"

[Ed-in-Ohio]

IMO the most useful guideline is not listed as an option:

Current market price for similar (model/year/condition) guitars.

This is the guideline I always use when pricing a used guitar, and I modify it (up or down) based on how much I "have in" the guitar.

[Napman41]

Rule of thumb or starting point is usually 50% of MSRP.

In my experience, Ebay is a good starting point. Find the used instrument there and see what the average selling price has been at auction, and that would give you a good starting point. For example, my Gibson sells in good condition on Ebay for between $1700 and $1800, and there's a used one down at GC for -- you guessed it -- $1795. That gives me a good ballpark amount if I needed to sell it.

[Rockin2Slowly]

As a seller I would like to get 75% of MSRP...since I am anal about caring for my guitars. As a buyer of a guitar in similar condition, 50% sounds about right.

[PajamasMusic]

Originally Posted by HHP

Yes. MAP is minimum Advertised Price and is typically lower than MSRP which is Manufacturer's Suggested Retail Price, sometimes commonly called list price.

And a further distinction to be made "minimum" advertised price vs "manufacturers" advertised price. The Google returns topics on both from which I infer both terms are valid and in common use.

[Ed-in-Ohio]

Originally Posted by Mark Stone

In my experience, Ebay is a good starting point. Find the used instrument there and see what the average selling price has been at auction, and that would give you a good starting point. For example, my Gibson sells in good condition on Ebay for between $1700 and $1800, and there's a used one down at GC for -- you guessed it -- $1795. That gives me a good ballpark amount if I needed to sell it.

Agreed. Reverb's Price Guide is very useful for this also.

[PajamasMusic]

Originally Posted by Mark Stone

In my experience, Ebay is a good starting point.

This is IMO a good way to approach it. I've had guitars priced at a couple of retailers before and that is actually how they told me they did it. Thanks for the reminder, Mark.

[HHP]

Originally Posted by Cap'nCrunch

And a further distinction to be made "minimum" advertised price vs "manufacturers" advertised price. The Google returns topics on both from which I infer both terms are valid and in common use.

I think those terms are interchangeable as the "minimum" is set by the manufacturer.

[Mbroady]

Originally Posted by Ed-in-Ohio

Agreed. Reverb's Price Guide is very useful for this also.

I find this to be an excellent resource. And, I am always amused by how much used prices are inflated (by private sellers) compared to what the price guide states. I would use this guide to make offers on used guitars - if I were in the market for a used guitar