When finding the value of musical instruments, it is important to get an understanding of what the item is selling for.
The best way to do this is to use eBay to see what the items have recently sold for. When searching for your item, be sure to click the “Sold Listings” box on the left hand side (in the “Show Only” section) after you have entered your search term. This will show only the items that have actually sold, along with the price they sold for. If you are unable to find sold items, try the completed listings section and see how much people were asking for and expect the item would sell for a lower price.
Try to find the exact item and view what the item sold for to others. Find an average of the prices and you will have a good idea of how much a Pawn Shop or reseller will sell the item for.
In my Pawn Shop, we price the item at the same price that we found the item sold for and would usually negotiate to a slightly lower price. Pawn Shops usually sell items for under the average resale value, this is why people shop with us!
If you have a hard to find item, I would suggest finding the price value guide at your local bookstore or (if you are lucky) online. If you are only looking up a few things, just write down all of the information about the piece and take a few photos of the item with your phone. Some of these books can be expensive, so I recommend just using the book in the store to look up the values.
If you are not in need of quick cash and don’t mind waiting a couple of weeks to get paid, I recommend selling your item on eBay to receive the most money for your item.
If you are in need of quick cash and plan to sell the item to a Pawn Shop, you can plan to receive slightly under half of the resale value of the item. This can also vary, due to the condition, desirability, and ease of selling the item. A Pawn Shop does not want to sit on an item for a length of time and if they know they can sell an item quick, they may pay a little more. It is always good to do a little research to see if any stores specialize in the type of item you are selling.
Always negotiate when selling an item! It is part of the whole Pawn Shop experience and it is expected. Never take the first offer you receive. Even if you are happy with it, why not try and get a little more? If you are not satisfied with the amount you are offered, you can always shop around for offers. Many Pawn Shops will give you an estimated offer over the phone and this will give you a good idea of who has the best market for the item.
Check out our How to Negotiate page for great tips and techniques to help you get the most money for your item!