The Second Hand Market Is So Busy These Days

OldBugger on 23/01/2021 - 11:25

I'm finding the second hand market so busy these days. Well, more busy than usual anyway. Just on everyday items that are sold for the going rate. Not cheap but not expensive either.

Items on gumtree or Facebook marketplace are seemingly sold within hours, sometimes minutes, of being placed up for sale.

I rang about a no frills dining table that was 8 minutes into the advert being placed, but was telephoned on the way there that someone had bought it.

Same story with a car recently and called within minutes of advertisement. Nothing special about price or model but was clean and tidy. The seller was surprised that I rang so fast but was booked in to view straight away. Half way there I was told it was sold.

I've been to car auctions where the second hand cars have been going for way over what you could get them from a dealer (which is less risk as you can test drive and they include dealer warranty).

I was lucky enough to see a trailer online and asked the seller to hold it for me, I was coming straight away. The seller laughed and said, "I think you'll be fine as I just advertised it." Sure enough, when I got there he said he was inundated with calls, but I got that trailer.

Then there is the real estate market where home opens resemble a street parties with interested buyers. But I'm not going there.

The flip side is that items I have sold usually get snapped up fast too, and at inflated prices. I recently sold a vacuum cleaner for almost the same price what you could buy a new one for. No haggling and the buyer came from a two hour drive away. Same story with other items recently including an old bed frame and just yesterday, a bag of pool salt.

I don't know the reasons but realise online sales are much different to the old newspaper advertisements. Although I still remember rushing out to get the local "Quokka" paper as soon as it hit the shelves to get in first with a bargain.

What have you experienced recently as a buyer or a seller? Lucky wins? Unlucky losses?

General Discussion

Comments

  • Drakesy on 23/01/2021 - 12:08
    +2

    It's a mixture of people being flush with savings/jobkeeper/jobseeker over covid that didn't need to spend it on holidays last year and people who may be able to work from home/increased flexibility in what they can do during work time.

    Yes it has been a noticeable difference, i think everyone's just learning to be a bit more frugal when it comes to material purchases, trying to stretch their dollar/cope with the incredible mortgages that people have been taking out.

    It'll all even itself out in due course.

  • sam buster on 23/01/2021 - 12:14
    +3

    I can't comment about clearance rates, but I have been surprised by the prices. It seems most sellers expect near full rrp for used goods - I've often found what I'm looking for cheaper (or only a few $s more) new!
    I must be showing my age, but selling second hand stuff used to be about getting a little money back for your old / unwanted items - even if it was in good condition or nearly new you wouldn't ask much more than half price. Unless it was a collector's item, of course, but then the motivation for selling is different.

    And I do find it odd because we are much more wasteful and frivolous these days and goods more disposable and lower quality - I would expect second hand to stuff to be even cheaper now.

    Perhaps sellers advertise things expecting to be haggled down? Whenever I've sold things I've instantly had offers well below the asking price - of course that's to be expected with something like a car, but I got haggled over a $10 bundle of unworn children's clothes - good quality and sent by grandparents overseas. There were five beautiful dresses (my kids hate dresses and skirts) by well-known brands, still with labels and price tags (cheapest was GBP 49). $10 is a bargain right? I got offers of $1 and $2 - one even asked if that would include postage!

    EDIT
    I'm talking about the last ten years or so, not just the COVID-era.

    • OldBugger on 23/01/2021 - 12:31

      $10 is my minimum for just my time selling something. To offer less I just ignore. Although I've offered free items too. It's interesting when buyers request those items to be delivered. 🤨

      You raise the interesting point. I too think we are much more wasteful these days and prone to just buying something new rather than repair but maybe that goes for the mass produced items. I guess good quality items are still sought after.

      Then again, I'm still in awe of that buyer who bought my old vacuum cleaner, and he traveled from so far. I felt sorry for him and threw in a heater I had lying around.

  • FoxJump on 23/01/2021 - 12:28
    +1

    Idk man, the kid ride on cars on FB marketplace seem to take for ever to sell. Ditto prams.

    • OldBugger on 23/01/2021 - 12:37

      Maybe put the price up 😜

      • FoxJump on 23/01/2021 - 13:48
        +1

        I'm trying to buy a kids car. Soo much choice. I'll take my time. Trying to sell a pram. All I get are low ballers. Eventually I'll just give it to Vinnie's

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