Reverb price question

[Anxiety Serum]

So I understand that sales prices and asking pices aren't the same. But I've been looking at a few guitars that have sales prices thousands above even the best sale price.

For example people asking 8-12k for a guitar that sold for 6k, 3 times, but every other sale is 5k or below (3.5k-5k). And all the guitars are elsited for 6 month with no sales in the last 4. Basically three people overpaid in the spring, people doubled the price and nothing has sold since.

One seller is a store and who should know better then to ask 8.5k.

You think any of these sellers would take a more reasonable price 5k or less? Or am I gonna have to wait for this recession to get worse before they realize 8-12k is a joke, 6k ain't gonna happen again, and 4k is the real market clearing price?

 

[MadAsAHatter]

It's happened to a bunch of gear. One idiot with too much disposable income pays a ridiculous asking price then overnight every seller jacks up their price. Then all the overpriced stuff just sits there. It becomes a standoff of who will cave first. Sellers start dropping prices when their stuff doesn't move or buyers really really wanting it to the point they pay the stupid price.

I think the best you can do is make an offer at a true reasonable price and hope they accept it or wait it out for a while.

 

[japetus]

People can ask what they want. The market dictates itself. There are A LOT of "gotta have it NOW" guys out there that will overpay because they have the money and want it now. Mind over matter, I don't mind so it doesn't matter...but at the same time I am not in the game over overpaying for shit just because.

 

[napalmdeath]

Depends on which "sold" price you're looking at. If you look at "sold" listing, it'll show it being sold for the asking price, even if they took an offer for much less. You have to use the price guide to get the real story.

It's a flaw, (by design, I'm sure), in the system. "Sold" listing prices are inaccurate.

 

[Anxiety Serum]

People can ask what they want. The market dictates itself. There are A LOT of "gotta have it NOW" guys out there that will overpay because they have the money and want it now. Mind over matter, I don't mind so it doesn't matter...but at the same time I am not in the game over overpaying for shit just because.

I'm with you. I don't mind doeople being dumb with their prices. Free country, free market.

I'm more just asking if others have any experienced with these crazy prices and been able to get deals at 20-30-40% off of asking price. But inline with the fair value of recent sales.

I mean a Nashville shop asking 8500 for something that hasn't sold above 6k is either just hoping for a sucker or oblivious to how markets work.

Just wondering which it is

 

[Anxiety Serum]

Depends on which "sold" price you're looking at. If you look at "sold" listing, it'll show it being sold for the asking price, even if they took an offer for much less. You have to use the price guide to get the real story.

It's a flaw, (by design, I'm sure), in the system. "Sold" listing prices are inaccurate.

Not sure I follow. You talking about Reverb?


I'm referring to this item. Also noticed that for some models the phone app has even better data. See second pic. Both photos are same model. App has better data.

 

[napalmdeath]

Not sure I follow. You talking about Reverb?


I'm referring to this item. Also noticed that for some models the phone app has even better data. See second pic. Both photos are same model. App has better data.

Yeah, those are the accurate sold listing.

 

[Anxiety Serum]

Yeah, those are the accurate sold listing.

That second photo is the first time I've ever seen the Asking Price and the Sale Price together.

Reverb is strange in that sometime there is better data on the app\website and sometimes vice versa. They need a better product manager to make sure all data is available on both.

 

[Raysus]

I feel like some people list stuff they don't want to sell for crazy prices, just to please their wives by saying it's up for sale or something. I'm sure there are different reasons for people to list stuff too high, but that's gotta be one of them.