We are often asked about taking trade-in’s toward purchase of a new guitar, or one better suited to your playing needs. It seems common practice for some shops to reference a “trade” publication for pricing guidelines, which do not appear to take into consideration current resale or market value of a particular instrument – yet are more or less arbitrary. We have heard from our clients that many shops will then also offer only 40% to 60% of that “book” value.
This practice seems to leave a poor impression of the industry in general, and doesn’t seem fair to you, the seller. Alternately, the shop owner is taking the risk of tying up their inventory dollars in a “trade” – which may be some time in coming before he or she gets the appraisal price for the instrument.
For these reasons, we have established what we consider to be fair trade & consignment policies, which works for sellers, buyers, and us too. We have heard some shops charge as much as 25% consignment fee to sell your instrument. Our fee is more competitive, and offers you a sensible alternative to the dreaded “trade” option:
Straight Consignment
- Our fee is 20%
- We ask a minimum of 30 to 60 days to allow us to sell your instrument, but if you find a buyer before we do, we are happy to return it to you, and there is no fee, just return shipping expense.
- You will receive payment within 15 days of buyer’s 3 day approval period (bare in mind we may need to ship to the buyer, which will add to this time frame).
Trade Consignment
- Our fee is 10%
- You can apply the proceeds of the sale to your new purchase / order immediately following the buyer’s 3 day approval period
- Or, our 10% fee can be applied retro-active to your purchase today, if you consignment an instrument within 30 days of your purchase.
Straight Trade-In
- Our fee is 30%
- For those of you who wish to finalize an immediate purchase, we try to give every consideration to worthy trades, particularly if your instrument is one of the core product brands we feature.
- After establishing a fair retail price for your instrument, we will work on a premise of 30% commission, offering you up to 70% of the value for your instrument on trade towards a store purchase.
"What price will my guitar or mandolin sell for?"
When attempting to establish a resale value for a pre-owned instrument, we conduct a bit of research on the internet to see what is currently available on the market, adding to a careful inspection of the instrument with regard to it’s wear, repair history (if known), and age. Together this information is evaluated with the current price for a new replacement model of the same specifications (when pertinent). You have full approval for both the list (or asking) price, as well as the “minimum” selling price, prior to signing your consignment agreement.
Some additional advice on pricing… If your instrument is of a mass-produced brand, which currently sells new for 25% off, this can dramatically reduce the street value of a pre-owned instrument. We ask you to bare this in mind with regard to resale expectations.
On the other hand, we have had great experience selling hand-crafted instruments at higher than expected street values. With more than 2500 web hits per day, our national & international clients have come to rely upon us for excellent customer service and advice on their purchases.
"I worry about my guitar being mishandled while hanging in a shop"
A final note… Your instrument is well cared for in our shop. We do not allow visitors to play unattended, we use a mylar pickguard cover for every demonstration, and make frequent string changes so that your instrument is well cared for during it's stay. Your guitar is fully insured by Heritage Insurance Company while in our possession, and in transit to its new owner.