How to Price a Classified Ad

Once,  when working at an auto-body shop at 14 yrs old (long time ago), I was putting on a new bumper and asked my boss how tight to make the nuts. He replied "as tight as you can, and then a quarter-turn more".

That's how pricing used items is done. Lower the price until it hurts, then 10-20% more. Basically, there is alot more selling going on than buying in this economy. The items selling are those that are real bargains.

I saw some solar panels for sale that were bought for $900 each. The seller was asking $700, a 22% discount since they were used for less than a year. Problem is, the seller didn't look at what the cost was brand new. Now the new panels are $695 each.

Here is a tip on pricing: The second-hand selling price has nothing to do with the original purchase price.

Now that your expectations are lowered, here is an example of what to expect.

If a new bike (current price) is $150, and the used bike for sale, if it is in perfect shape, just a little "used" a pawn shop will offer you $50, but be willing to go to $60. A classified ad site cuts out the middle man, you should post the item for $80.

If anything is broken, figure half of that or no deal at all. People like to buy things that are ready to be used. If that is too hard to swallow, then fix the bike first, then sell it.

Waiting for a better offer? I knew a man who had to sell an item for immediate money needs, but felt that the current offer was too low. So he turned it down, thinking he could wait for a better offer, if none came he would call the original offer back and accept.

The original buyer bought something else that was in better shape, but for more money. So the (apparently) only buyer was out of the market. The item was still for sale after 3 months.

With selling used goods, you must lower your expectations. The purchase price at the time you bought it may be much higher than current new prices, due to current economic conditions.

Tip: Never say you are firm on the price.

People like to feel like they are getting a deal. Something that generates that feeling is underbidding the current price. Don't be firm, be flexible and get the deal done!

If the price is below what you are looking for, try asking if the buyer has anything for sale, maybe a trade will help. You could mention things you are looking to buy. Barter is the new "in" thing.


Happy Posting.