Is there a "formula" for what Guitar Center will sell your gear for?

Discussion in 'V.C.'s Parlor' started by Ralph124C41, Dec 1, 2021.

  1. Ralph124C41

    Ralph124C41 Dr. Squier

    Feb 10, 2016
    This is the second part of the equation as I think the consensus is that GC will offer you 50 percent to about 60 percent or so for your guitar if it is in good to very good condition. Maybe a little less. Maybe a little more but generally that seems to be the range ... at least it has for me.

    But how does MF determine the price for the item itself? Let's say you bought the guitar new for $500. You will get an offer of 50-60 percent of what GC will sell it for. But what is that? Is it also 50 percent to 60 percent of the "new" price or some other factor? For argument's sake, let's say GC will resell that guitar for $300 or 60 percent of the new price (what you paid) but offer you 60 percent of that, so $180. So the "formula" would be Price to you = .6 times .6X (where X would be the price of the instrument when new.) So $500 new, $300 at GC's resale price, $180 into your pockets means you will be getting only .36 (little more than a third) of what you paid for it.

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    miket1117 likes this.
  2. Benlostforyears

    Benlostforyears Squier-Nut

    817
    Aug 17, 2020
    Western NC
    They just look in their system to see what similar guitars are listed/have sold for and base it on that. There is no set formula for setting the price and it really depends on the store and the knowledge of the particular employee you are working with. If they see several similar guitars in their used database selling for $400, they will pay you 60%, so $240, then list it for $400 on their website.

    However, some of those guys won't do their research and identify the item incorrectly or just guess on a price. I've been offered $15 for a pedal that cost $18 new because the guy at the register didn't feel like looking it up.
     
    Eddie, Robb, miket1117 and 1 other person like this.
  3. Eddie

    Eddie My Squier is on Fire !!!

    Age:
    52
    Nov 5, 2016
    New York
    Selling back to GC is more convenient, but man, I took a killing before.
     
  4. Ralph124C41

    Ralph124C41 Dr. Squier

    Feb 10, 2016
    True. In fact just today or yesterday somebody was mentioning on one of the smaller, "friendlier" Firefly groups that some GC store was selling a used FF 338 for $299.99; it cost less than $200 new. My own store had marked up a used FF for waaaaay more than it sold when new. But it sold. These FFs sell for significantly higher amounts online by scalpers, so maybe that played into setting the selling price. Or it could be unfamiliarity with the guitar. Or a combination of both.
     
  5. blackspider57

    blackspider57 Squier-holic

    Age:
    64
    Mar 11, 2017
    Somewhere east of the rockies
    If all else fails.... this! Screen Shot 2021-12-03 at 5.20.23 PM.png
     
  6. Randall E

    Randall E Squier-Meister

    Age:
    61
    209
    Oct 3, 2021
    Central California
    My experience is: If you sell back in near mint condition, the will pay you approximately 45% of the full price. For example, I received $95 for a pedal that cost $219 new. It was two years old and I had the box and instructions that came with it. I had originally purchased it on sale for $169. After I sold it to them, the next week, they had it in the display for $190.
     
  7. Ralph124C41

    Ralph124C41 Dr. Squier

    Feb 10, 2016
    Ouch! As others have said I do think it totally depends upon the store and the employee. I took a guitar in and had a supervisor appraise it and he gave me a fair price. He then left the store (why, I don't know.) So I took it back into another salesman who gave me another price, one not as attractive. I said no. But I haven't played it since so I may take him on that offer as I have some bills to pay (and I'm not a duck).
     
  8. backporchmusic

    backporchmusic Squier-Nut

    844
    Sep 6, 2014
    Va
    They look in their system to track sales from their chain. If that doesn't produce enough data, they go to Ebay and Reverb. Then offer 50-60% of what those rates may be.

    Also, they may decide to sell more quickly, so they sell for less, so you get less.

    Some items vary week by week, and the clerks have very little wiggle room--some but not much.