Trade-in values
Posted by: david needham on 29 August 2003
I am currently awaiting delivery of a CDX2 
I have been offered £675 trade-in for my 9 month old CD5. I've just seen one go for £851 on e-bay.
I know my dealer has vat and profit to add into the equation, but do you think £176 under market value is being mean? Do folks out here know what would be reasonable to expect?
David
I have been offered £675 trade-in for my 9 month old CD5. I've just seen one go for £851 on e-bay.
I know my dealer has vat and profit to add into the equation, but do you think £176 under market value is being mean? Do folks out here know what would be reasonable to expect?
David
Posted on: 29 August 2003 by Rick Weldon
if you originaly purchased your cd5 from the same dealer then a £500 loss in nine months is a bit much!
Posted on: 29 August 2003 by Linds
Trade-in against what?
...it depends what you are trading in against. If the dealer is asking for full dollar the new kit AND offering below market price, that's crap IMHO.
What would the dealer accept as cash against the new kit? If no discount, then surely there's another £50 (if that matters to you) he can stretch?
!!! There's always money somewhere for the next upgrade... !!!
...it depends what you are trading in against. If the dealer is asking for full dollar the new kit AND offering below market price, that's crap IMHO.
What would the dealer accept as cash against the new kit? If no discount, then surely there's another £50 (if that matters to you) he can stretch?
!!! There's always money somewhere for the next upgrade... !!!
Posted on: 29 August 2003 by Phil Barry
Doesn't the dealer need to make a profit? Doesn't time have a value?
The dealer probably can get more for the CD5 than a private seller can. The dealer is offering a warranty of sorts after all. That costs money. And the dealer is putting his capital at risk and spending HIS time to sell the CD5. And he may be paying a commission as well. So of course, he may be giving you less than you can sell it for yourself.
Second hand sales for a private seller is more like a crap shoot. If you need the money, someone like Mick can get you to sell for a song. If you can hold out for a price, you may have to wait for a while.
Best of luck, but there's rarely, if ever, a free lunch.
Regards.
Phil
The dealer probably can get more for the CD5 than a private seller can. The dealer is offering a warranty of sorts after all. That costs money. And the dealer is putting his capital at risk and spending HIS time to sell the CD5. And he may be paying a commission as well. So of course, he may be giving you less than you can sell it for yourself.
Second hand sales for a private seller is more like a crap shoot. If you need the money, someone like Mick can get you to sell for a song. If you can hold out for a price, you may have to wait for a while.
Best of luck, but there's rarely, if ever, a free lunch.
Regards.
Phil
Posted on: 29 August 2003 by Don Atkinson
Life's a bitch.....
I don't know the exact retail price of a cd5. Lets assume its about £1400.
Net of VAT means about £1200 and a dealer would buy it trade from Naim at (say) 60% or £720
So a dealer can buy cd5 players, brand new, from Naim at £720 a shot, to order with no cash-flow problems etc. How much can he sensibly offer a customer for a 9 month old cd5 trade-in.......
Seems to me that £675 isn't so bad.
If you are happy to take the hasle and risk away from the dealer, thats probably worth £125 so a private sale of £800 would make it worthwhile.......The dealer will probably ask (and get) a bit more when he sells it on.
Mr Abela is welcome to amend the above figure as he sees fit! The rest of you can make polite recomendations....
Cheers
Don
I don't know the exact retail price of a cd5. Lets assume its about £1400.
Net of VAT means about £1200 and a dealer would buy it trade from Naim at (say) 60% or £720
So a dealer can buy cd5 players, brand new, from Naim at £720 a shot, to order with no cash-flow problems etc. How much can he sensibly offer a customer for a 9 month old cd5 trade-in.......
Seems to me that £675 isn't so bad.
If you are happy to take the hasle and risk away from the dealer, thats probably worth £125 so a private sale of £800 would make it worthwhile.......The dealer will probably ask (and get) a bit more when he sells it on.
Mr Abela is welcome to amend the above figure as he sees fit! The rest of you can make polite recomendations....
Cheers
Don
Posted on: 29 August 2003 by garyi
Don thats a fair point. More over everone seems to find the word profit disdainful. If I were in the position of selling on second hand kit I would want to make a profit.
Posted on: 29 August 2003 by Don Atkinson
garyi,
I agree
cheers
Don
I agree
cheers
Don
Posted on: 29 August 2003 by david needham
Don
I don't have a problem with him making a profit, but he's making £1060 (your guestimate of 40% of the cost of the CDX2) from me. I did't expect to get the private sale price for a trade-in of the CD5, I was just surprised at the difference. If he'd gone halfway to £750, he'd only have gone down approx 5% of his profit and would have a much more satisfied customer, who'd be less likely to look elswhere for his next upgrade.
I certainly don't expect a free lunch, just a bit of compromise.
David
I don't have a problem with him making a profit, but he's making £1060 (your guestimate of 40% of the cost of the CDX2) from me. I did't expect to get the private sale price for a trade-in of the CD5, I was just surprised at the difference. If he'd gone halfway to £750, he'd only have gone down approx 5% of his profit and would have a much more satisfied customer, who'd be less likely to look elswhere for his next upgrade.
I certainly don't expect a free lunch, just a bit of compromise.
David
Posted on: 30 August 2003 by HTK
£675 sounds fair enough for a dealer. Youi'll always get more selling private and if that's important to you then go ahead and do it that way. Either way, you'll recover more than half the new value which can't be bad. Good though Naim boxes are, they're harldy gold bars.
I don't buy S/H sources or speakers. If I did, I wouldn't dream of paying over half the new price for "someone else's problem", even if it was a Naim and less than a year old. Ex dem would be a different matter.
Just my £0.02.
I don't buy S/H sources or speakers. If I did, I wouldn't dream of paying over half the new price for "someone else's problem", even if it was a Naim and less than a year old. Ex dem would be a different matter.
Just my £0.02.
Posted on: 02 September 2003 by Spanner
Some time ago (18 months) I bought a second hand CD5 from an employee of a hifi store who gave me the paper work (including receipt). The price he paid seemed to be trade price and the number did not start with a 6, if you get my drift.
So it seems to me that as it is cheaper for the dealer to get a new CD5 then what he is doing by offering to buy a second hand one is part of his "service" to customers - a "market maker" if you will.
So, depressing as it may seem, £675 seems a decent price. If you want to get into a discussion on 100% plus markups then than is another story entirely.
Ho Hum
So it seems to me that as it is cheaper for the dealer to get a new CD5 then what he is doing by offering to buy a second hand one is part of his "service" to customers - a "market maker" if you will.
So, depressing as it may seem, £675 seems a decent price. If you want to get into a discussion on 100% plus markups then than is another story entirely.
Ho Hum
Posted on: 02 September 2003 by Markus S
Sorry, David, I don't get it. If you're not happy with the price your dealer offers you, sell your CD 5 some place else (eBay, Loot, hififorsale for example).
If you don't want the hassle of selling privately, bite the bullet. It's your choice.
Markus
If you don't want the hassle of selling privately, bite the bullet. It's your choice.
Markus
Posted on: 02 September 2003 by Bas V
I just bought a s/hand CD2 at my dealer. I sold my CD5 privately for about 55% of the new price. But, I traded my Nait5 in at the dealer and he gave me 65% of the new price of that! Both pieces were about 2 years old. The dealer told me it was no problem, as he had already people who wanted to buy the Nait5 s/hand from him. When I told him I could sell it myself for the same price he still wanted to exchange it!