February 29, 2020 - Antiques, Art and Collectibles
That means expensive instruments lie around the house for months or years, untouched and collecting dust.
What can you do with these instruments? Well, a great idea is to try selling used instruments online to earn back some of that cash!
There are a few things you need to know before you can sell used instruments. Including where to sell musical instruments and the condition they should be in.
Let’s take a look!
Before you pawn your musical instrument, work out whether it’s an antique. To do this you should:
By working out whether your instrument is an antique, you’ll be able to come up with a more accurate price point and won’t be selling yourself short.
However, if after doing your own research you’re still unsure, make sure to visit an appraiser.
Rather than coming up with a random figure of how much to sell your musical instrument for, get a professional to help!
By going for an appraisal, you’ll be more likely to sell the instrument for a fair price and know what you can demand.
Visit a music store in your area to speak to someone in the know. Often, a music store will give you a free appraisal or can at least point you in the right direction.
If you find that your appraisal is going to cost money, then consider trying to appraise the instrument yourself.
You can do this with websites such as the Appraiser Association and save yourself some money.
It’s often said that you have to spend money to make money. If your musical instrument has been lying around unused, it may need a little touch-up.
Your appraiser will be able to tell you whether paying for such a service is worth the money or not.
If it is then before you even begin the process of trying to sell the instrument, get a quote for how much it’ll cost to repair any damage.
Of course, if it’s going to cost you a lot of money then there isn’t much point in paying lots to sell it for little.
You need to work out whether a small touch up by a professional will help you sell the instrument for more.
After your instrument is appraised, repaired and ready to be sold, you’ll need to find out what your competition is like online.
Take to the web to work out whether the price point you’ve been given during an appraisal is an accurate representation for how much your instrument is going for online. The two don’t always correlate!
Check out websites such as Craigslist and eBay to work this out. Look for the age of the instruments, damage and quality of craftsmanship to compare it to yours. Knowing market rate is good, but understand that pawn shops are resellers, so they need to give you a lower price.
Then, take both of the prices you’ve come up with from the appraisal and research to work out the best and most fair price point for you.
When selling your instrument on an auction site, you’ll always need to offer a lower starting price point and hope that bidders will raise the price.
However, a better option for selling your second-hand items is Pawn Guru.
With this website, you can receive many offers for free. You can use this website to either pawn and sell a single item or sign up as a shop to sell regularly.
Don’t rush into selling your instrument to the first person who makes an offer.
If you do it right, you can make a lot more money than you may have expected to when you gave up the instrument months before!
Are you still struggling with selling used instruments? Get in contact and we can help!
David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.More Articles