Buying and Selling Guitars - The 20% Rule to Always Come Out on Top

In this video I teach you how to apply my 20% Rule for buying and selling guitars and other music related gear online. EBay, Reverb, Craigslist, Facebook Marketplace, etc.

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[jas_bataille]

Couple more tips :
- The lower prices are always going to be given to you by places that need more space : studios, backline companies, etc who have to sell out at ridiculous prices because they need to reclaim their space will give you *unbelievable deals*. This usually apply more to rack-mount gear and professional tech gear in general. However, it is still possible to find such deals for instruments, especially drums and piano, and for microphones as well. Keep in mind that drums and pianos do take a lot of space and pianos in particular cost an absolutely insane ton to ship so I would steer clear of this market unless you have some real acquisition power.
- Always sell something to finance something else *before* you buy it and you will never need a credit card again.
- If the item is harder to sell (too specialized and expensive), then you can easily *rent* it instead and make more money over the long run! Studio gear in particular rack-mount units can be easily rented and there is a definite market for it. Hell, you can even rent your analogue gear for people to send their tracks through over the web. Why not?!
- Have a good ability to at least set-up, if not repair the instrument. I paid 150 bucks for a stellar collectible snare drum, restored it, and sold it for 300 bucks at the next-door shop within 20 minutes. Their employee bough it 400 the next day.
- Maintain good relationships with everyone.
- There is an exception when you *can* buy new but only from distributors, directly, like a music shop would. It takes contacts, but it's not impossible to place yourself this way. If your online shop get big enough - even if it's on Reverb or eBay - you might just be making money in your sleep...!

[lorax]

Old Geezer here-- excellent advise u give my boy!-- i'll be retiring in about 4-5 yrs and plan to amp up my buy/ sell of guitars peds, amps etc... The 20% rule works and ur key word that makes it all happen is" be honest with each buy u make!" DONT GET ALL FUCKIN EMOTIONAL ABOUT AN ITEM, think smart and do ur research . The market will have buyers that will only pay so much, regardless of what u think its worth!!! Look forward to more of ur vids !!! Rockdaddy has left the platform

[PMiller]

I’d say that unless you’re running a business, if you break even or close to it, it’s a win. It takes a tremendous amount of time and effort to make a profit as you explain. I’d rather spend my time doing things I enjoy instead of chasing a couple hundred dollar profit for 6 months

[PickingandFlipping]

I flip guitars everyday. I never sell on the internet other than craigslist. Letgo/offer up. No fees Is key. Avoid high end stuff unless you got it at low end prices.

[thatpersonthatexists]

I bought an american strat in perfect condition “$1200” for only $50 on letgo because it was a 13 year old kid who got it for Christmas and sold it for money lmfao

[StefanMoIyneux]

thats a badass shirt man. love acid bath. rigg's solo stuff is pretty great as well

[s.prestonsurch]

Interesting idea.
I've never purchased a guitar with the thought of selling it down the road.
I've always tried to purchase things that I know I'll love, and will most likely not want to sell.
Even some of my first guitars that are nothing special I love to keep around,
I guess that makes me a collector?

[Livlos]

Ironically.... I JUST bought a used 2016 SG standard. I got it BECAUSE I knew I could relist forst at least 30% more than I gave the guy.

[kopprophet]

You can buy new in certain instances. 1. If you can get them wholesale for a lot less than street price. 2. If you can find something a little bit unusual that isn't distributed in the US (or your area).

[fongy]

My father bought an original Hohoner Madcat in the 70's I think he paid £65 brand new and it's now worth over 3 grand. Me old man left me a fantastic guitar collection about 70 in total, he was right handed and I'm left handed, that's the kicker but their heirlooms and will go to my boys when I shuffle off. Then there's the lefties I've bought over the years, the advice this chap is giving out is sound but you have to know your stuff to repeatedly make a profit and I expect Doom knows his stuff. Great upload my man.

[gitarmats]

Thanks, I'm thinking about getting into this.

[coffeewaldo]

I just came across this. I sell my personal high end pedals. I’ve yet to make a profit. They’re mint, never left my home, non smoker, I’m a pedal addict so they’re not used a lot. If I want to sell them I lose so much money. I’ve yet to make a profit. Anyway, good video. 👍

[mikewilky]

I've been following you on insta for about a year now and just now bumping into your channel

[DarrinF]

This is great advise if you are buying on price alone. Sometimes though you find a guitar that’s so amazing you have to buy it, new, used, vintage, whatever. If you buy guitars to play them and love them and you’re okay with losing a couple bucks if you have to I value tone above resale.

[louderthangod]

This seems more in line with gear flippers and less for those looking to write and record when it often makes sense to over-pay for something unique if it inspires new material. I also hate babying guitars, I don’t want to stress a scratch or dent...I’m also big on custom guitars which always get killed on resale fuck money, I’ve got a job for that.

[wi.wsp]

Nice Acid Bath shirt man! They're such a great band that doesn't get enough credit in the genre.

[vexguine]

Very good point about new items being a waste of money. And it is valid to any manufactered good. The first buyer pays all the taxes involved in the chain of making that good, including moving that item around the world when imported, then pays for the customs, then pays for the existence of the store and for what? When you arrive home from the store with a brand new guitar, it is already "used" for the second market. With exception of first need itens (clothes, shoes, food) buy used, people! From pedals to cars to houses. Don't be the first payer!!!

[billynamer]

I only started doing this to try guitars and resell, hopefully getting a small profit or knowing I can get my money back.

[blakejones]

Also a decent idea: I bought my SG Faded "new" back in 2005, and I got a sweet deal on it because it was a heavily played floor model (apparently people don't know how to or don't care to put a cable in carefully) - everything is negotiable!

[bmint]

I understand now.. 1. Do a price comparison, look at used guitars on reverb, Amazon, eBay, 2. make sure you pay less than that price, 3. make sure the guitar your getting is in good condition, 4. profit..