It is definitely good to have options like G.C. Some people are never going to go the trouble of trying to sell online or want to deal with strangers to make transactions.
Loving your real-life videos. People just don't realise how much the store overheads are so I am not surprised at what they paid you.Looking forward to the next video tomorrow.
Interesting discussion. I think pre-covid you could generally buy gear at about 10-15% off of list price. And then when you stepped out of the store there was another 20% or so drop in value as the item became used gear. So taking the time to sell the item yourself you might get be able to get 65-70% of the of the original list pricel (Less any fees/shipping etc.) If you sold it to a store they might give you 50% the value they thought they could sell the item for. So in your case, a new Fender Twin Tonemaster goes for $1049 with free shipping at Sweetwater maybe $100 more at a local store.. If they gave you 10% off, your price would be $944. And then walking out the door, the value would drop another 20% to $755. So you might be able to sell it yourself for $755 less any fees. If you sold it to a store and they paid you $470 they could sell it for $755 and maintain a 37% gross margin or drop the price a little to move the amp. So overall I think you did ok. I think it's a little more complicated because of price increases over the last couple of years inflating the starting prices, so I wouldn't be surprised to see price reductions + the normal negotiated 10-1% off of new gear. And I agree that it is a buyer's market for both new and used gear if you are patient. Selling used gear for more than 50% (Ie 60-70%) of the original price might be more challenging and take a little time.
I will say, one time many years ago I brought a mic in to sell at GC, and when I wasn’t happy with the price that was quoted the salesperson was a real human being about it and just said “yeah I’m sure you could do much better selling that online. I would hang onto it.” That made a positive impression on me overall that people there are mostly just fellow musicians doing what they can to survive, and they’re not out to do any dirty deals. They are just bound by company policy on what they can offer, it seems.
Totally agree - cash in hand and no shipping or travel or additional fees or worries about returns if you offer essentially balances out the discount you gave them.
Hey Aaron... I think I would have kept the amp .. then again if the cash was needed for a good reason ... Whether or which it is great to have that option at guitar center...
If I didn’t have a vintage guitar, would they still be able to do a trade on a guitar guitar center? I would love to hear from your responses and I subscribe to your awesome UA-cam channel. I hope you have a wonderful summer and God bless you.
Yes, I recently traded in my Helix HX Stomp towards a new guitar I saw. I wasn't really quite happy with the price, but for all the same reasons you stated, I proceeded. I think I got $287, and I feel I really could have got closer to $400 on Reverb, but then the fees, shipping, hassle of going potententially back and forth....waiting for the offers, etc. I was able to apply the 10% discount on the guitar I was buying as well, so that helped swallow that pill. In general, I think you just have to set your expectations when trading in that gear, but it is an easy and smooth process, and particularly if you are going to be buying some other gear from them, the discount is helpful.
You are on a roll Aaron! Another great video! Yes, GC gets a bad rap, and I suppose some of it is justified. It is annoying to me that after all these years, all this different management, they still operate in the red. The debt transfer to Bain Capitol is what I think really put them in a downward spiral, but I'm not a finance guy so pretty ignorant there really. Someone correct me if I'm wrong. I've never traded in anything at GC, or sold to them. I've bought a few guitars, a couple amps, and lots of pedals, misc gear (especially strings). In general they are very cool no matter what store I go into, but I'm mostly an acoustic guy and it seems that the most knowledgeable guys are electric guitar and gear geeks. I've even been in the acoustic room listening in on a conversation on several occasions just cringing at what they are selling/telling the prospective buyers. My father-in-law did sell a vintage Gibson ES-175 several years ago. They gave him about $5000 for it even though he knew if he waited he could probably get more. Out of convenience he sold it though. It was an instrument passed to him from a deceased brother, and I don't think he ever really liked it but held onto it for sentimental value. I bet GC flipped that guitar for at least $1500-2K more. But again Aaron, you are spot on, it is great that GC is there for us and has one of the best return policies in the business. I wish them well!
I had 1 store offer me 50% and another 60% of the selling price on reverb. I think that’s the going rate and if you need the money now it is fine. If you can wait your far better off.
I think given the situation you got basically what you would have taken minus those fees and such. I would entertain it esp if you consider buying something else directly using the 10% off, 2k is $200 off I guess and every little bit helps. wish I was closer to you I would have bought that for 550! all about the right ad for the right person in the right moment. cheers bud. the videos lately have been really great thanks for sharing!
also I go to guitar center a lot and mostly think pretty highly of the folks that work there, they work hard and are friendly. my only issue is I bet they should be paid more but I think that's probably for any retail job these days.
Peace of mind, hours of your time, and no more worries about the amp have cost you $80 (the difference between your lowest price that attracted no-one and the cash you got). Well worth it!
I have no problem with them offering 60% for what they will sell it used because I know they need to make a profit and also they have lots of expenses and they have to give commission to their sales force. Just subscribed and liked.
Great video, but that’s insane. Getting 1/3rd the actual price is crazy. I don’t care that they have overhead, $470 is too low.i would say 60% of the vale is a good deal
Thank you! It depends on the product. They also look at their inventory to see how many they already have in the site and if they are selling as well which is fair enough. At the end of the day everyone should sell their own stuff but the GC thing is great for certain situations.
Trading gear in. You're gonna get 50-60% of retail. If in great condition and buying another piece of gear 60%. This has been my experience every time.
I think it's a ripoff. They give you 40-50% of what they think they'll sell it for. I've checked it out before with other gear. But, then again, I never would've been happy with giving it away on Reverb for 50% of what I paid for it either. I've sold a fair number of things on Reverb in the past few years and I try to get around 70% of what one paid/current asking price. IMHO, YMMV, etc, according to how quick you need to unload it.
Perhaps a different term then, like gouging. I've never gone with them because I see there practice as predatory (similar to trading in your car at a dealership) ; plus, I could never stand to throw that much money away. Some retailers will sell on consignment for anywhere from 12% - 20% or 25% (depending on value of item) of final selling price and I've seen that work out better for the person who doesn't want to sell on their own. Especially compared to GC, which wants to clear 50-60% of selling price.@@aaronshortmusic
It is definitely good to have options like G.C. Some people are never going to go the trouble of trying to sell online or want to deal with strangers to make transactions.
Loving your real-life videos. People just don't realise how much the store overheads are so I am not surprised at what they paid you.Looking forward to the next video tomorrow.
Interesting discussion. I think pre-covid you could generally buy gear at about 10-15% off of list price. And then when you stepped out of the store there was another 20% or so drop in value as the item became used gear. So taking the time to sell the item yourself you might get be able to get 65-70% of the of the original list pricel (Less any fees/shipping etc.)
If you sold it to a store they might give you 50% the value they thought they could sell the item for. So in your case, a new Fender Twin Tonemaster goes for $1049 with free shipping at Sweetwater maybe $100 more at a local store.. If they gave you 10% off, your price would be $944. And then walking out the door, the value would drop another 20% to $755. So you might be able to sell it yourself for $755 less any fees.
If you sold it to a store and they paid you $470 they could sell it for $755 and maintain a 37% gross margin or drop the price a little to move the amp. So overall I think you did ok. I think it's a little more complicated because of price increases over the last couple of years inflating the starting prices, so I wouldn't be surprised to see price reductions + the normal negotiated 10-1% off of new gear. And I agree that it is a buyer's market for both new and used gear if you are patient. Selling used gear for more than 50% (Ie 60-70%) of the original price might be more challenging and take a little time.
I will say, one time many years ago I brought a mic in to sell at GC, and when I wasn’t happy with the price that was quoted the salesperson was a real human being about it and just said “yeah I’m sure you could do much better selling that online. I would hang onto it.” That made a positive impression on me overall that people there are mostly just fellow musicians doing what they can to survive, and they’re not out to do any dirty deals. They are just bound by company policy on what they can offer, it seems.
Yes and they have to then sell it for a profit. If they gave us the Reverb amount they would have a failed business model.
Loving all the videos! 😊
Thanks. I’m interested to see what happens if I post every day for the rest of the year.
Totally agree - cash in hand and no shipping or travel or additional fees or worries about returns if you offer essentially balances out the discount you gave them.
That’s how I feel. Good point about returns too!
Hey Aaron...
I think I would have kept the amp .. then again if the cash was needed for a good reason ...
Whether or which it is great to have that option at guitar center...
If I didn’t have a vintage guitar, would they still be able to do a trade on a guitar guitar center? I would love to hear from your responses and I subscribe to your awesome UA-cam channel. I hope you have a wonderful summer and God bless you.
Yes of course. They will accept any guitar that is playable.
Thank you for sharing your experience. Good information.
Yes, I recently traded in my Helix HX Stomp towards a new guitar I saw. I wasn't really quite happy with the price, but for all the same reasons you stated, I proceeded. I think I got $287, and I feel I really could have got closer to $400 on Reverb, but then the fees, shipping, hassle of going potententially back and forth....waiting for the offers, etc. I was able to apply the 10% discount on the guitar I was buying as well, so that helped swallow that pill. In general, I think you just have to set your expectations when trading in that gear, but it is an easy and smooth process, and particularly if you are going to be buying some other gear from them, the discount is helpful.
Yes and as I mentioned in the previous video the used market is so slow right now that it makes GC even more appealing.
@@aaronshortmusic Right on brother....
You are on a roll Aaron! Another great video! Yes, GC gets a bad rap, and I suppose some of it is justified. It is annoying to me that after all these years, all this different management, they still operate in the red. The debt transfer to Bain Capitol is what I think really put them in a downward spiral, but I'm not a finance guy so pretty ignorant there really. Someone correct me if I'm wrong.
I've never traded in anything at GC, or sold to them. I've bought a few guitars, a couple amps, and lots of pedals, misc gear (especially strings). In general they are very cool no matter what store I go into, but I'm mostly an acoustic guy and it seems that the most knowledgeable guys are electric guitar and gear geeks. I've even been in the acoustic room listening in on a conversation on several occasions just cringing at what they are selling/telling the prospective buyers.
My father-in-law did sell a vintage Gibson ES-175 several years ago. They gave him about $5000 for it even though he knew if he waited he could probably get more. Out of convenience he sold it though. It was an instrument passed to him from a deceased brother, and I don't think he ever really liked it but held onto it for sentimental value. I bet GC flipped that guitar for at least $1500-2K more. But again Aaron, you are spot on, it is great that GC is there for us and has one of the best return policies in the business. I wish them well!
I had 1 store offer me 50% and another 60% of the selling price on reverb. I think that’s the going rate and if you need the money now it is fine. If you can wait your far better off.
So two guitar centers offered different amounts? That is interesting.
@@aaronshortmusic no 2 different music stores. Neither was guitar center..
@@thomasmoore3822 ah!
Couldn’t you have countered with the $500 that you were more comfortable with? I bet they would have done it.
@@im58woody I did tell them I was hoping to get $500. That was the best they said they could do.
I think given the situation you got basically what you would have taken minus those fees and such. I would entertain it esp if you consider buying something else directly using the 10% off, 2k is $200 off I guess and every little bit helps. wish I was closer to you I would have bought that for 550! all about the right ad for the right person in the right moment. cheers bud. the videos lately have been really great thanks for sharing!
also I go to guitar center a lot and mostly think pretty highly of the folks that work there, they work hard and are friendly. my only issue is I bet they should be paid more but I think that's probably for any retail job these days.
Peace of mind, hours of your time, and no more worries about the amp have cost you $80 (the difference between your lowest price that attracted no-one and the cash you got). Well worth it!
I agree. Time is valuable but it’s always frustrating to lose money of course.
Its like how a pawn shop works. They offer you less and then they can sell it for more.
Yes it makes sense and I’m fine with it.
I have no problem with them offering 60% for what they will sell it used because I know they need to make a profit and also they have lots of expenses and they have to give commission to their sales force.
Just subscribed and liked.
Thank you and I agree with you 100%. Everyone deserves to make money.
Great video, but that’s insane. Getting 1/3rd the actual price is crazy. I don’t care that they have overhead, $470 is too low.i would say 60% of the vale is a good deal
Thank you! It depends on the product. They also look at their inventory to see how many they already have in the site and if they are selling as well which is fair enough. At the end of the day everyone should sell their own stuff but the GC thing is great for certain situations.
Trading gear in. You're gonna get 50-60% of retail. If in great condition and buying another piece of gear 60%. This has been my experience every time.
Yes I agree and I think it’s fair. They are buying to resell.
My Guitar Center trade-in experience was bad. I buy from Guitar Center. Hope to never have to trade-in there again.
What happened?
That sounds more like you just sold it to them, not traded it in on other gear.
I did this time. If you trade it in you get 10% off your purchase as well so it actually works out even better.
I think it's a ripoff. They give you 40-50% of what they think they'll sell it for. I've checked it out before with other gear. But, then again, I never would've been happy with giving it away on Reverb for 50% of what I paid for it either. I've sold a fair number of things on Reverb in the past few years and I try to get around 70% of what one paid/current asking price. IMHO, YMMV, etc, according to how quick you need to unload it.
I don’t think it’s a rip off. They are buying it to resell it and they are not hiding that.
Perhaps a different term then, like gouging. I've never gone with them because I see there practice as predatory (similar to trading in your car at a dealership) ; plus, I could never stand to throw that much money away. Some retailers will sell on consignment for anywhere from 12% - 20% or 25% (depending on value of item) of final selling price and I've seen that work out better for the person who doesn't want to sell on their own. Especially compared to GC, which wants to clear 50-60% of selling price.@@aaronshortmusic