my friend wants to sell me a CD player for my truck. he bought it for $120. he wants to sell it for $70. he used it a few times, and he bought it like 4 years ago. is this a good deal?
2007-03-05 02:31:36 · 5 answers · asked by Keath L 1 in Cars & Transportation ➔ Buying & Selling
The price of something new is a product of the labor it cost to make and and the raw materials it contains, among other things. Once something has been paid for, it is a matter of market demand that usually dictates the "used" price.
2007-03-05 02:36:24 · answer #1 · answered by correrafan 7 · 0⤊ 0⤋
In my opinion "value" is determined by the amount someone is willing to pay... NOT what the person wants to sell it for.
If there is not another CD player within 100 miles, and you have $70 to spend, then yes, you may be getting a good deal.
However, if you live near an electronics store (or Wal-Mart, or whatever) and you can buy whatever you want, then you have choices.
CD players are mechanical devices. A CD player banged around in a car for 4 years is probably not worth $70 - especially if your friend paid only $150 for it.
2007-03-05 10:37:17 · answer #2 · answered by Rick W 5 · 0⤊ 0⤋
The best way to determine fair value for a used item is to do a search on e-bay to see if that item or a comperable item is selling there (or has sold there recently) and what the asking price and/or the closing price of the auction was. This will give you a sense of what strangers in the real world are paying each other for the same item. Also, do a search for the item on the manufacturer's website to see if they are still making that item and what it is selling for new today. I would also check for any recall notices on the item to see if there were any problems with the model.
2007-03-05 10:43:28 · answer #3 · answered by Anna E 2 · 0⤊ 0⤋
best way to sell something like that is to sell it on ebay. Selling it locally will be a headache. With auction format you pretty much get market value most of the time.
2007-03-05 10:34:51 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Look for what similar items are selling for on ebay. Typically, electronics drop to half their store price the day you take them home.
Correra (below).... new items are priced by market demand as well... the cost of making it doesn't matter, once its made.
2007-03-05 10:35:42 · answer #5 · answered by Anonymous · 2⤊ 0⤋