Overpriced Pre-loveds? Why am I irritated?

[seaurchin]

Personally, I usually price used items at a discount (like 25-30% or more) off their current retail price.

That makes more sense to me than considering what you originally paid for an item. Because, for ex., a piece could have been bought for pennies on the dollar of its current retail price if you bought it many years ago. Or, as in the case of lab diamonds, the retail price could have dropped considerably from what you paid several years ago.

I forgot to add that I think sometimes the luxury, branded, in high demand stuff might go by different rules anyway. I mean, I guess the correct price is what someone is willing to pay, so if it's something in high demand and hard to get, then maybe that's a situation where it could go for the same as or more than retail.

Also, I have no idea why I keep posting about this topic when I don't even really care about it that much.

 

[tyty333]

Agree @seaurchin ... High-end, branded, hard-to-find, high-demand, antique jewelry might (probably) will go by different rules than
your typical mass-marketed jewelry.

 

[JPie]

Hi! I’m that person who sells at cost, or just a smidge below. What goes through my depraved mind?

If I’m selling it, then it means I like it but don’t love it. If I can get what I paid then I’m happy to rehome it. I don’t, then I don’t really see a reason to take a bath and I’d rather just hold on to it. Most of what I make available from my collection are antiques and unique enough that they’re snapped up by people who have been eyeing them and know they will never find the exact item elsewhere. The last rings I sold had multiple interested parties and no one tried to haggle.

For contemporary designer items like Hermes bracelets, I sold through local consignment stores because I get money without the hassle of shipping, being on pins and needles until the buyer receives it, or worrying about getting scammed by a total stranger. If I’m going to take a loss, I like it to at least be relatively convenient for me.

Nobody expects a retailer to sell inventory at a 30-40% loss, and so long as the item is in excellent or like-new condition, I think it’s wild to expect that of a private seller. Wear and tear is a different story.

 

[Avondale]

Nobody expects a retailer to sell inventory at a 30-40% loss, and so long as the item is in excellent or like-new condition, I think it’s wild to expect that of a private seller.

Mm, not exactly.

People above already commented that for unique pieces, antique pieces, designer pieces and so on, this very characteristic of the item affects the price and the way it's formed - mostly because it affects demand. After all, if someone is willing to buy at the offered price, then that's all there is to it, both seller and buyer are happy, no need for anything further to be said.

But in the general case scenario, a private seller is offering less for the money than a retailer, for the same item.

Of the price of the item sold by a retailer, not all 100% are the actual value of the item. The retailer is offering a return policy. The retailer, due to being a business, has certain legal obligations and responsibilities, and the buyer, being a consumer, has certain legal protections. Furthermore, the retailer has business expenses to cover, and of course there's their own profit that's the price of the service they provide.

So, in reality, the actual value of the item is 100% minus all these things mentioned above.

The private seller offers none of these. The private seller has no business expenses to cover and isn't providing a service. Sales are final, item is in as is condition. It's a private arrangement between two individuals, consumer protections don't apply.

So, if the private seller is offering an item at retail cost, and I can get, well, in the world of jewellery not the exact same thing, but often something similar enough, from an actual retailer... then why would I choose to buy from the private seller, when my consumer rights are better protected when buying from a retailer? You could say it would be wild to expect that from a buyer, to pay 100% of the retail cost when only receiving the value of the item, which is less than 100%, without all the extras and protections that would otherwise be included.

 

[Ibrakeforpossums]

Glad this came up. Bump, Asscher cut pink spinel ring reduced price.

 

[seaurchin]

Hi! I’m that person who sells at cost, or just a smidge below. What goes through my depraved mind?

If I’m selling it, then it means I like it but don’t love it. If I can get what I paid then I’m happy to rehome it. I don’t, then I don’t really see a reason to take a bath and I’d rather just hold on to it. Most of what I make available from my collection are antiques and unique enough that they’re snapped up by people who have been eyeing them and know they will never find the exact item elsewhere. The last rings I sold had multiple interested parties and no one tried to haggle.

For contemporary designer items like Hermes bracelets, I sold through local consignment stores because I get money without the hassle of shipping, being on pins and needles until the buyer receives it, or worrying about getting scammed by a total stranger. If I’m going to take a loss, I like it to at least be relatively convenient for me.

Nobody expects a retailer to sell inventory at a 30-40% loss, and so long as the item is in excellent or like-new condition, I think it’s wild to expect that of a private seller. Wear and tear is a different story.

If you are getting sales then I'd say that's proof you're pricing things right.

Otherwise, I'm sorry but you'll have to be punished.

 

[JPie]

Mm, not exactly.

People above already commented that for unique pieces, antique pieces, designer pieces and so on, this very characteristic of the item affects the price and the way it's formed - mostly because it affects demand. After all, if someone is willing to buy at the offered price, then that's all there is to it, both seller and buyer are happy, no need for anything further to be said.

But in the general case scenario, a private seller is offering less for the money than a retailer, for the same item.

Of the price of the item sold by a retailer, not all 100% are the actual value of the item. The retailer is offering a return policy. The retailer, due to being a business, has certain legal obligations and responsibilities, and the buyer, being a consumer, has certain legal protections. Furthermore, the retailer has business expenses to cover, and of course there's their own profit that's the price of the service they provide.

So, in reality, the actual value of the item is 100% minus all these things mentioned above.

The private seller offers none of these. The private seller has no business expenses to cover and isn't providing a service. Sales are final, item is in as is condition. It's a private arrangement between two individuals, consumer protections don't apply.

So, if the private seller is offering an item at retail cost, and I can get, well, in the world of jewellery not the exact same thing, but often something similar enough, from an actual retailer... then why would I choose to buy from the private seller, when my consumer rights are better protected when buying from a retailer? You could say it would be wild to expect that from a buyer, to pay 100% of the retail cost when only receiving the value of the item, which is less than 100%, without all the extras and protections that would otherwise be included.

I should clarify that the items I sell at cost are antique, and I price contemporary pieces below retail. It’s the antique pieces that I think are fair to price at cost and ridiculous to expect people to take a hit.

I agree that it makes no sense to price contemporary pieces at full retail with exceptions for rare/coveted, sold out things. Those go above retail.

 

[JPie]

Mm, not exactly.

People above already commented that for unique pieces, antique pieces, designer pieces and so on, this very characteristic of the item affects the price and the way it's formed - mostly because it affects demand. After all, if someone is willing to buy at the offered price, then that's all there is to it, both seller and buyer are happy, no need for anything further to be said.

But in the general case scenario, a private seller is offering less for the money than a retailer, for the same item.

Of the price of the item sold by a retailer, not all 100% are the actual value of the item. The retailer is offering a return policy. The retailer, due to being a business, has certain legal obligations and responsibilities, and the buyer, being a consumer, has certain legal protections. Furthermore, the retailer has business expenses to cover, and of course there's their own profit that's the price of the service they provide.

So, in reality, the actual value of the item is 100% minus all these things mentioned above.

The private seller offers none of these. The private seller has no business expenses to cover and isn't providing a service. Sales are final, item is in as is condition. It's a private arrangement between two individuals, consumer protections don't apply.

So, if the private seller is offering an item at retail cost, and I can get, well, in the world of jewellery not the exact same thing, but often something similar enough, from an actual retailer... then why would I choose to buy from the private seller, when my consumer rights are better protected when buying from a retailer? You could say it would be wild to expect that from a buyer, to pay 100% of the retail cost when only receiving the value of the item, which is less than 100%, without all the extras and protections that would otherwise be included.

Re-read my original post and remembered what I was thinking: contemporary pieces should be discounted for the obvious reasons you noted, but I think 20-25% is fair for designers that don’t go on sale or custom work, and 30-40% or more would be for obvious wear and tear. If it’s a designer that has promos, then resale price shouldn’t be higher than their steepest discount.

This is what makes sense to me as a seller and a buyer.

 

[yssie]

Ehhhhh mixed bag.

I can say that I've rehomed things for significantly less than I paid. 50% off, in some cases. I disclose my buy price.

I can also say that I've rehomed things for significantly more than I paid. Double, even triple. Again, I disclose my buy price.

My pearls come to mind. I have some that... If I was to sell (and I won't, so purely hypothetical conversation) - I would be looking for several times what I paid. And if anyone contacted me with comps and discount requests I would encourage them to buy those comps. Two reasons: (1) I may have gotten preferential pricing compared to fair market originally, and (2) these days it's impossible to even find true comparatives to some of what I've got.

But I'm at a point where I've already rehomed all the stuff that I really wanted gone. Everything I have left is genuinely valued, so if I listed something and it didn't go... Shrug.

 

[tyty333]

Agree @seaurchin ... High-end, branded, hard-to-find, high-demand, antique jewelry might (probably) will go by different rules than
your typical mass-marketed jewelry.

Oh, I forgot...and @yssie 's pearls! On second thought, may fall into the "hard-to-find" category!

 

[marymm]

I don't get irritated when I see Preloved items priced higher than what I think would make them sell quick ... sometimes I drop a comment if the item is more expensive than actually sold on the vendor site, or much higher than true comparables, as much to advise the seller as to warn potential buyers... but most of the time I figure they are uncertain if they want to sell but are willing to do so only if they get their listed price. Bumping or relisting really doesn't take much time.

Me, personally, I generally list at 25-35% off items I bought new myself.

If I buy something preloved and then later list it for sale, I often will list it just below what I paid for it preloved.

I have found that when I price items 50% off, just because I want to sell quickly, people don't really bite, I am guessing they think the deal's too good to be true, but it's just that I want things gone now more than I want to sell at the best/highest price possible. shrug

And, as @yssie mentions, on occasion I have either received an excellent price for something I bought, or the thing I bought at a good price (spinel) turned out to be something actually worth much more (unheated ruby). If I were to sell items like that, I would check market pricing for comparable items and base my preloved price off those numbers rather than what I had paid myself.