Formula for furniture resale?

dreamhouse1May 22, 2007

We are building a new home and changing our home and decorating style. We have a several pieces of furniture, florals, art, etc. we need to sell. Is there a 'formula' for establishing the value of furniture for resale? All the furniture is in excellent to good condition, very good quality, fairly new and still in fashion. Can I start at the purchase price and deduct a percentage per year of use? Do I take a straight percentage? We have also thought of having a sealed bid auction and starting the bidding at a minimum price. Anyone with much experience in selling (or buying) 'preowned' furniture? Advice PLEASE!

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chelone

My guess would be no. It's nothing more than "used" at this point in its life cycle. If it was older, and of a style more in vogue, it might be worth more.

Personally, I wouldn't bother with it at all. I MIGHT pick it up if it was on kerb, for "free", but even then I'd likely pass it by because it would be unlikely to catch my eye.

Try a consignment shop. I really think that might be your best bet for a reasonable return on your investment. MY opinion.

    Bookmark   May 22, 2007 at 11:08PM
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maggie3_2006

my opinion is if you were looking at it and liked it how much would you pay? My neighbor has a sofa that she got at rooms to go and they discontinued it, when I first saw it I fell head over heals in love with it and I offered her a thousand bucks for it even though she only paid 499 but she wouldnt sell it so I guess it amounts to how bad someone else wants it,

    Bookmark   May 23, 2007 at 3:41PM
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dreamhouse1

Maggie3 - you're right. I'm also finding that friends and family are willing to pay for items, I guess because they know their history and how well they have been taken care of. I sold a couple of chairs and a couple of floral arrangements today for over $500 to a friend just stopping by - not too bad actually. I think my friends, neighbors and family may buy up my things before I even get them advertised any where! I'm not recouping ALL my investment; however, I figure I paid a percentage to enjoy them for a while and they are getting a deal because to buy any of it new would cost them a lot more in a store. Glad I didn't put them on the curb....

    Bookmark   May 23, 2007 at 4:06PM
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sdsnyder9

Try Craigslist. It is a great way to sell furniture, and you can do some research on the pricing by checking out the other ads. We just sold 3 cribs in 1 week (don't ask why we had three cribs!), and the ads don't cost anything to put in. I would never have thought of it if the guy who cuts my hair didn't tell me about it.
Good luck!

    Bookmark   May 23, 2007 at 4:23PM
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dreamhouse1

scs1234 - I have heard good things about Craigslist and I am going to try it. I sold one thing on ebay, but since most of the items are large, I think Craigslist would be better suited for us. Bet your glad to have gotten rid of 3 cribs - I had two at once (twins) and that was enough! Thanks for your suggestion.

    Bookmark   May 24, 2007 at 10:06AM
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sue36

I won't buy used upholstered items unless I am going to re-upholster them due to the bedbugs, germs, etc., issue. However, I have found that good quality casegoods (high to mid end brands) seem to sell for 1/3 - 1/2 of original price when they are in excellent to near excellent condition. I just paid $900 for a secretary that originally went for about $2000.

I would try eBay. Especially if they are from sought-after manufacturers or are discontinued (people search eBay to complete a set). Shipping is no big deal. You require that they use a shipping company. They can easily call for a quote. They come right to you and pack it up. They pay the shipper themselves.

    Bookmark   May 24, 2007 at 2:12PM
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mogator88

Getting the best price for used furniture is as much random luck as anything else. Its so personal, you first have to be lucky enough to have someone who likes what you have. Secondly, there's a lot of used furniture sold on Craig's list, and a lot of inexpensive nice looking furniture sold in the big stores. So some parts of the country will be better for used furniture than others. Sounds like you're off to a good start though. Good Luck!

    Bookmark   May 25, 2007 at 6:24PM
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flyingflower

I've bought and sold furniture on Craigslist. I've found that used furniture in excellent condition is generally marked down 50% and lower. Sometimes people order a piece made and they hate once it was delivered. With those you can ask ~70% of the purchase price because it has never been used. I watch some ads on CL go unsold because the owners don't understand that the furniture has terrible resale value. You could try starting it off on CL at 60% if it makes you feel better but be ready to adjust downward as time goes on. There's always a chance you'll find a buyer who's been looking for that exact piece. I've done that, there was a pair of lamps I loved at Ethan Allen for $350 a piece, didn't buy them because that was too much money for me at the time. Years later they pop up on CL for $50 each! I grabbed them so fast, wasn't about to haggle with her for that price. I hate these people who will dicker with you no matter HOW low you price an item.

You have a better chance of selling it for a higher price on CL than if you have a garage sale. I find people want to pay pennies on the dollar at garage sales, I've not had good luck selling bigger ticket items in my neighborhood.

I once had this oak table with 4 chairs. It was Dh's bachelow table that I hated so I didn't take care of it. I beat that thing up so bad with water stains from potted plants, the table top was a mess. When I finally was able to buy a new table I couldn't get anyone I knew to buy this old one. Dh's bachelor buddy considered it but then decided that he wasn't even willing to part with 50 bucks for the entire set. So I figured it was a lost cause. I put in on the truck and drove it over the the Cancer Thrift shop for them to have for free. The lady told me she could sell it for $500. I laughed and forwarned her this would not sell for anywheres near that amount, I couldn't even get 50 for it. I called her a couple weeks later out of curiosity and she told me she did sell it for the full amount, $500! I was shocked. You see, the more eyeballs that see it the better chance you have of getting a higher price.

    Bookmark   May 26, 2007 at 12:01PM
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rococogurl

In my area it totally, totally depends on what it is and whether it's in style. If it's good it can go into an auction.

If not, you may be better off donating it and taking a tax deduction. In our area Craigslist is so big you are basically giving something away and may be better off donating.

If it is collectible, you can completely get your money out of it as we did with a table and chairs that Dh bought and resold.

The forumla is "get what you can".

    Bookmark   May 26, 2007 at 4:32PM
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store

looking for
Cheap Baby Cribs,Discount Baby Cribs,Baby Cribs Sale,Buy Baby Cribs,Discounted Baby Cribs

Here is a link that might be useful: http://astore.amazon.com/baby.cribs-20

    Bookmark   July 12, 2008 at 12:47AM
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