Used guitar prices skyrocketing?

[Ares]

Until recently most guitars that were sold in the used market ( leaving out the vintage ones- and the ones that required a waiting list ) started ~ 75-80% of the price for a brand new one and went down, depending the age and the condition of the instrument.
Most of the times you could get a 10 year old guitar in great condition ~ 2/3 off.
It s been a few years that people offer their used instruments at higher prices and they end up getting more money for them.
The bargains are scarce and I ve started buying new again.

What led the used prices up?
Does it have to do with the pandemic and the high demand?
With the inflation and the lots of money nobody worked for that flooded the markets?
Or maybe it all in my head, and I m just getting old, recalling good old times in the used market that never existed?

[Tony Burns]

Originally Posted by Ares

Until recently most guitars that were sold in the used market ( leaving out the vintage ones- and the ones that required a waiting list ) started ~ 75-80% of the price for a brand new one and went down, depending the age and the condition of the instrument.
Most of the times you could get a 10 year old guitar in great condition ~ 2/3 off.
It s been a few years that people offer their used instruments at higher prices and they end up getting more money for them.
The bargains are scarce and I ve started buying new again.

What led the used prices up?
Does it have to do with the pandemic and the high demand?
With the inflation and the lots of money nobody worked for that flooded the markets?
Or maybe it all in my head, and I m just getting old, recalling good old times in the used market that never existed?

depends on how you buy a used guitar -if you go to reverb your talking higher , go to your local paper they seem low -even your local guitar or music store my be up or down - ask them what they have deals on
I havent been in the market to buy for a while - but i do keep tabs on stuff i like . id check out used small builders or brands your not use to -

Prices of everything depend upon buyer demand - and seller availability
Prices will come down on less desireable brands or models - always





.

[brencat]

Prices for used intruments rose during the pandemic when many people were home and took up new hobbies, including playing guitar. Home gym equipment soared in price too. Both peaked late 2021, imo, and prices and availability have been steadily improving.

Lately, it seems the used market has slowed, with guitars taking a lot longer to sell, certainly on AGF. But aspirational pricing by sellers also has a lot to do with that dynamic. On any given day I look at the classifieds here, around 80% is overpriced relative to fair market value (FMV). Sellers pricing their guitars with wiggle room expecting to haggle should bear in mind that many buyers, myself included, will not even bother contacting them if they are too far away from FMV, because I don't want to be bothered. If you're $200-300 away, I can work with you, but $800 - $1000 too high especially on a boutique item, you're not a serious individual to me and I move on.

[rllink]

Lots of people who are buying lots of guitars. I would say GAS is helping drive the market. The people who are buying as many guitars as they can afford.

[davidd]

Deals are always to be found. I just bought a 2019 Player Stratocaster for $200 a couple of weeks ago. In my area (the SF Bay Area...) CL listings hang around for months sometimes because knuckleheads don't smell the coffee and realize their valuation of what they are selling is way out of whack. Asking price and eventual selling price are vastly different things. The key to buying is doing it when you don't want or need the item. Snap bargains up when they appear and flip for a small profit and then you can feed your GAS.

[pf400]

Prices for new guitars rose quite a bit over the last 3 or 4 years. Around here you have to pay 1200 for an older Gibson LP Studio or a Strat that cost less when it was new. Used MIM Fenders or Classiv Vibes go for about what they cost when new. Good deals are hard to find here.

[rollypolly]

ummm, inflation? Everything has gone up. House prices have almost doubled in our area. Everything else seems to follow.

[mercy]

I dont know about guitars but everything else, especially elec and gas, are way high. We are paying 2 X what we paid last year for groceries.
I do notice that things on our classified dont move hardly.

[doublescale1]

Yes, it is taking a longer time to find the right buyer for a used guitar. And Yes the prices have gone up; in keeping with the rising prices of new guitars. The used market will follow the new market up and down as it moves cyclically.

[scotchnspeed]

Originally Posted by brencat

Prices for used intruments rose during the pandemic when many people were home and took up new hobbies, including playing guitar. Home gym equipment soared in price too. Both peaked late 2021, imo, and prices and availability have been steadily improving.

Lately, it seems the used market has slowed, with guitars taking a lot longer to sell, certainly on AGF. But aspirational pricing by sellers also has a lot to do with that dynamic. On any given day I look at the classifieds here, around 80% is overpriced relative to fair market value (FMV). Sellers pricing their guitars with wiggle room expecting to haggle should bear in mind that many buyers, myself included, will not even bother contacting them if they are too far away from FMV, because I don't want to be bothered. If you're $200-300 away, I can work with you, but $800 - $1000 too high especially on a boutique item, you're not a serious individual to me and I move on.

Curious how you determine FMV since that is not an objective standard. Also - everyone should realize that *prices* are just invitations for offers. The idea that all terms are predetermined on an AGF post is inaccurate.

[Silly Moustache]

The last two years have not been "normal" The last two pandemics changed societies and so has this one.

There is a war in Europe affecting everything including energy costs, and that affects everything.

Many people in the west AND in the RF are having a very hard time.

In normal times, I've always expected a good used guitar to sell for around 66% of new (more from a dealer than via ebay or whatever).

As the new prices are forced up by inflation, so must the used market .... until people are so economically diminished that the market for discretionary spending collapses.

[Talk2Me]

Originally Posted by Ares

Until recently most guitars that were sold in the used market ( leaving out the vintage ones- and the ones that required a waiting list ) started ~ 75-80% of the price for a brand new one and went down, depending the age and the condition of the instrument.
Most of the times you could get a 10 year old guitar in great condition ~ 2/3 off.
It s been a few years that people offer their used instruments at higher prices and they end up getting more money for them.
The bargains are scarce and I ve started buying new again.

What led the used prices up?
Does it have to do with the pandemic and the high demand?
With the inflation and the lots of money nobody worked for that flooded the markets?
Or maybe it all in my head, and I m just getting old, recalling good old times in the used market that never existed?

Hey Rip Van Winkle...this is old, old news and discussed on the internet many times in the past few years. You new to guitar buying?

[Ares]

Originally Posted by Silly Moustache

In normal times, I've always expected a good used guitar to sell for around 66% of new (more from a dealer than via ebay or whatever).

I understand that when prices of new instruments go up, the used ones will follow.

I just have the impression that this 66% (which is fair and what i settled for in the past) nowdays is 80% (and usually starts even higher , for the shake of haggling).
80% is what a used guitar should cost at day 0, when you cross the door of the store you bought it from.

It seems that I'll have to buy new , at least until austerity starts to kick in...

[Ares]

Originally Posted by Talk2Me

Hey Rip Van Winkle...this is old, old news and discussed on the internet many times in the past few years. You new to guitar buying?

Not at all.
I just wasnt in the market for a new guitar the last 3-4 years.

[ZeroFretWear]

A lot of private sellers are looking to find a sucker, I guess.
Maybe they were suckers when they bought the guitar, and are trying to pass the terrible deal on?
I remember looking for an Eastman E10DTC, and saw a used one on this forum which was listed for $5 less than list price.
I then contacted a couple of private dealers and got a new one for hundreds less.
Same with the Martin Modern Deluxes.
I saw one listed recently for the same price as a dealer quoted me on a new one.
And unlike the private seller dude, the dealer offered free shipping, no credit card fee, full warranty, and trustworthiness.