Trade ins are always a lower value than what you can get on your own, but I consider the difference in price to be a convenience fee. Sometimes it’s worth it and sometimes not. A lot depends on what you’re selling: a lower value or special niche item may be worth the loss to not have the hassle of a private sale.
Trade in values
- Thread starter Cocorosa
- Start date
Sybo
Jim
It IS a very interesting market right now……..
SinSir
Mad Scientist
- Joined
- Sep 7, 2020
- Messages
- 4,471
A shop gives you $Xxx (percentage) for what the current market value is. Varies from shop to shop, GC (Guitar Center) trade in value stinks and CME (Chicago Music Exchange) is pretty respectable. Other shops give you cash and a discount off new gear purchased.
Generally most shops will give you 60-70% of what they intend to sell the guitar for. They may bump it up more if you’re buying more gear from them. It’s usually quick and easy. Unlike private sales where taxes will be deducted and reported on eBay and reverb.
I've often traded in gear. You get less as a seller because the shop earns their cut selling the guitar. Nothing wrong with that. Sometimes it's worth saving yourself the aggravation.
You definitely do better on Reverb, regardless of having to pay taxes, or on a private site like TGP. You lose 25-30% on a trade-in, and taxes are far less than what you'd lose selling to a dealer (which is essentially what a trade-in is).
The reason I've done trade-ins and sold to dealers is simple: You get paid, you don't have to deal with the customer. Sometimes that works for me, sometimes not.
May I be the first to say that the ideal thing is to hang onto the guitar if it's a good one? I have so many regrets about guitars I've sold or traded in.
You definitely do better on Reverb, regardless of having to pay taxes, or on a private site like TGP. You lose 25-30% on a trade-in, and taxes are far less than what you'd lose selling to a dealer (which is essentially what a trade-in is).
The reason I've done trade-ins and sold to dealers is simple: You get paid, you don't have to deal with the customer. Sometimes that works for me, sometimes not.
May I be the first to say that the ideal thing is to hang onto the guitar if it's a good one? I have so many regrets about guitars I've sold or traded in.
veinbuster
Zombie Three, DFZ
One of the shops near me starts at 60%. 10% bonus is if you bought it from them. Another 10% bonus if you are trading rather than taking cash.
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veinbuster
Zombie Three, DFZ
Cosmos. Huge store with excellent inventory.
