Selling second hand (UK specific, but feedback wanted)

[davidedric]

I recently decided to buy the new Panasonic 100-300mm m4/3 lens. It replaces the original version with enough improvements to matter to me. So what to do with the old lens which I bought around three years ago for around £500. It still seems to be available new at around £350.

On eBay, there were a couple of examples well into their bidding life. One with all the bits plus original packaging (as mine was) at £255, another at £199 (of course the sellers would be paying 10% of the eventual purchase price to eBay). Interestingly, both were misleadingly labelled: they quoted "Power IS" which is on the new version, and not "Mega IS which is on the old version, and which could be read easily on the pictured packaging).

What I actually did was to sell to a Company I've used before (mpb, in the UK) for £200. For that they arrange courier collection (included in the price) and after the lens has been inspected to ensure it matched my description, they email confirmation and the money appears in my bank account. I've just looked on their web site, and they have a lens listed (I suspect it's mine) at £270.

I'm happy with that. They have to make their profit, and I get a reasonable price and a completely hassle free process.

What do you folks think? I think it's about tradeoffs, and different people will have different priorities.

Dave

[DanK]

I'm not in the UK, but we face the same issues here in the US. I have sold a fair amount of gear, using eBay, KEH (a very reputable dealer in used equipment), and Craigslist (an online classified-ads site).

Selling to KEH is simple and predictable. You tell them what you believe the condition is, and they appraise it when they receive it. I have never had a surprise. They always agree with my (conservative) appraisal, and I get exactly the payment I expect.

eBay is of course less predictable. It's hard to know whether something will sell promptly, and there is a lot of variation in selling prices. However, my impression is that over the long run, the prices are higher--which makes sense, since there is no middleman to pay, other than eBay's fees.

I think of it in statistical terms. What that boils down to is that if I am right, selling in eBay has a higher expected mean price but much higher variance, so you may end up with less in any given sale. And it takes more time and bother than KEH. KEH also removes the risk of dissatisfied customers or returns: if they don't want it or disagree with your appraisal, they tell you at the outset.

[george013]

I recently decided to buy the new Panasonic 100-300mm m4/3 lens. It replaces the original version with enough improvements to matter to me. So what to do with the old lens which I bought around three years ago for around £500. It still seems to be available new at around £350.

On eBay, there were a couple of examples well into their bidding life. One with all the bits plus original packaging (as mine was) at £255, another at £199 (of course the sellers would be paying 10% of the eventual purchase price to eBay). Interestingly, both were misleadingly labelled: they quoted "Power IS" which is on the new version, and not "Mega IS which is on the old version, and which could be read easily on the pictured packaging).

What I actually did was to sell to a Company I've used before (mpb, in the UK) for £200. For that they arrange courier collection (included in the price) and after the lens has been inspected to ensure it matched my description, they email confirmation and the money appears in my bank account. I've just looked on their web site, and they have a lens listed (I suspect it's mine) at £270.

I'm happy with that. They have to make their profit, and I get a reasonable price and a completely hassle free process.

What do you folks think? I think it's about tradeoffs, and different people will have different priorities.

Dave

Did you also check your bank account?

You can wait for the jackpot but you don't know if and when you'll get it. Plus all the trouble around it.
I think this is the best way

George

[rpcrowe]

Perhaps this is generally known but, maybe it will help someone who is not familiar with eBay.

Looking at the eBay auctions just tells you how much the seller is asking for the item. Sometimes what a seller is asking has no relationship to how much that seller will receive for any item.

However, using eBay "ADVANCED SEARCH"


You enter the item description (in this case a Canon 70-200mm f/4L IS lens) and check the "SOLD" box


Now when you enter "SEARCH it will show you the recent prices that the item you are interested in sold for


This is some valauable information because you don't want to over or under-price an item for sale. Neither do you want to over- bid and if you significantly under-bid, you may not get the item...

In this case the lens sold for between $500 and $720 USD.

I would expect that eBay U.K. has the same system in place....

[rogfrich]

As a buyer, I'm a fan of MPB. I've never sold anything to them, but I'd take a lower guaranteed payback over a risky higher payback every time.

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[AlwaysOnAuto]

I'm all for letting other people put up with the hassles of selling stuff.
I think you have a good thing there Dave. Did you have to surrender the lens before the appraisal was done?
That's the one thing I'd have the hardest time with, but if you got a receipt from a reputable place I guess it could work out OK.

[loosecanon]

I have for many years bought items second hand, and less often sold to a dealer. It pays to build a relationship.

When selling know what an item is worth, allowing for condition. Remember the margin they need. Consider commission sale - more for you if item sells and less cash outlay for dealer. Remember to include original boxes and accessories.

If selling to buy another item, say so, the deal is to sell and buy, and often there is more flexibility on buying in price than the company head office fixed selling price.

Buying - know what an item is worth - how much less than a new item with guarantee.
Examine its condition critically, has paintwork been retouched, how dusty internally, condition of filter threads, condition of the lens coating on the front element, (test by lightly breathing on it). Check battery compartment for corrosion, condition of tripod thread and scratches round it. Condition of rubbers on lens or hand grip of camera. Accessories that should be with item. Shutter count on a camera. Scratches on rear screen, the plastic cover over the lens distance scale, or on the lens hood.

Be prepared to bargain - tell dealer what you think its worth, give your opinion of its condition. Be prepared to walk away. It may be available cheaper in a week or twos time.

Be aware there are a lot of items on sale which have been sent out mail order and returned as unwanted, almost as new. Don't confuse these with true second hand items when you estimate value.

Finally if a camera is displayed without a lens or body cap walk away.

[Black Pearl]

Remember they will be including VAT on that £270 and will likely be offering it with a warranty so thats a good price

[rogfrich]

Remember they will be including VAT on that £270 and will likely be offering it with a warranty so thats a good price

Yes, all MBP has a 12 month warranty.

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