Anyone else noticing ridiculous used pricing?

[Iron1]

I know used guitar and bass prices have been going up since COVID began, but it seems like in the last few months more and more people are asking ridiculous prices for things on Reverb, eBay, Marketplace etc.

I'm currently hunting for an Explorer shaped bass and have come across many that are priced in the $1200-2000 range for basses that were half that new. And, in the process I'm coming across guitars with the same ridiculous price hikes. I get inflation and all that crap, and yeah, Explorer basses are "rare" compared to the glut of P-basses out there, but still. And when I look at sold prices, the gap between that and asking prices seems greater than ever.

Anyone else seeing this or am I just lucky?

 

[Cirrus]

Yeah, I think during Covid when people cut back their socialising/ R&R outgoings while also taking up hobbies at home there was a jump in the price of 2nd hand stuff as a bunch of people had money to burn. But then that's turned into inflation and uncertainty, while asking prices have stayed high. Problem is, nobody has any money now so people are banking on their gear being worth loads and getting them out of their overdraft, but then no one can afford the asking price. When brave people put their gear up on auctions, you see what the actual market price is and it is often way below asking prices.

 

[Eagle]

Everything has gone up. That’s the new normal. A lot of high priced junk around but the market is dead at the moment and people are just not looking to give stuff away. In truth the used market is affected by the new and also the collectibles both of which are way up in that time . But regular s/h is flat to dead so nothing moves and nobody lowers the price unless they are desperate for cash then you still won’t see it because it is in the pawn shop.

 

[Boudoir Guitar]

I know used guitar and bass prices have been going up since COVID began, but it seems like in the last few months more and more people are asking ridiculous prices for things on Reverb, eBay, Marketplace etc.

I'm currently hunting for an Explorer shaped bass and have come across many that are priced in the $1200-2000 range for basses that were half that new. And, in the process I'm coming across guitars with the same ridiculous price hikes. I get inflation and all that crap, and yeah, Explorer basses are "rare" compared to the glut of P-basses out there, but still. And when I look at sold prices, the gap between that and asking prices seems greater than ever.

Anyone else seeing this or am I just lucky?

Used prices are going to track the current new price, not the price the thing sold for new originally.

 

[Eagle]

Used prices are going to track the current new price, not the price the thing sold for new originally.

This is it. Look what a LP studio was five years ago s/h . It has gone 2/3 times the amount over the period and they will sell at that because of the alternatives price. The problem is when you get low end stuff trying the same thing it just never sells. Everything is a desirability scale in used and ultimately will always only sell for what someone is willing to pay.

 

[PLX]

It's all about to crash.

Just wait for it.

 

[JasonE]

Those guitars and other gear that are priced that high are going to sit there for a long time. The market is a lot softer now and anything overpriced is not going to sell.

 

[FuzzyAce]

It's all about to crash.

Just wait for it.

That IS the vibe for sure. Same goes concerning music gear prices.

 

[JT]

 

[Sleezy E]

I've noticed prices coming down around my area lately

I have a hunch that after tax season refunds are spent, prices will dip big time this summer

 

[Iron1]

Used prices are going to track the current new price, not the price the thing sold for new originally.

Normally yes. But that's not what I've been seeing. Granted, I'm not talking about your run of the mill Strat/Stratclone, but more off-the beaten-path stuff.

 

[FuzzyAce]

Granted, I'm not talking about your run of the mill Strat/Stratclone

 

[la szum]

I've actually seen prices begin to fall from the ridiculous levels. Sometimes drastically.

 

[Boudoir Guitar]

Normally yes. But that's not what I've been seeing. Granted, I'm not talking about your run of the mill Strat/Stratclone, but more off-the beaten-path stuff.

Your OP referenced the original selling price. Off-the-beaten-path stuff is pretty impossible to track rhyme-or-reason to asking price or eventual selling price ime

 

[pipelineaudio]

A lot of guitars right at the start of covid were just hoovered up in a hugh hoard grab, along with many used cars, and tons of other gear. A lot of people had so much money, they could grab it all at no consequence, even if they didn't actually want the stuff. It even happened with houses! We watched piles of guitars and other gear go into shipping containers in hawaii after being bought up.

Recently I was looking for a used Ibanez 7 string and man the market was crazy, most used guitars were far higher than the new list price

 

[pipelineaudio]

Those guitars and other gear that are priced that high are going to sit there for a long time. The market is a lot softer now and anything overpriced is not going to sell.

The problem is is that it NEVER needs to sell. These people have so much money they can sit on it forever

 

[JT]

Your OP referenced the original selling price. Off-the-beaten-path stuff is pretty impossible to track rhyme-or-reason to asking price or eventual selling price ime

Laughs for OP in blood red firecrackle Ironbird bass

 

[holoholo]

What kills me is the used prices of widely available run of the mill shit being higher than new

 

[Boudoir Guitar]

What kills me is the used prices of widely available run of the mill shit being higher than new

They sure didn’t make them 2 months ago the way they did 3 months ago!!

 

[Byrdman]

I'm in the real estate business and it's like this all over. Sellers in just about any market think it is still a seller's market out there. Unfortunately for them, everything is slowly moving away from a sellers market and becoming more equal and in some industries, buyers are holding the cards.