Second Hand Prices

[ru55ell1]

Just seen a JET WOOD LATHE JWL-1642 sold on eBay for £1250 which on the face of it would seem to be a good saving over the new price of £1789.50. However, the same lathe brand new was on offer at Harrogate last year for £1300 delivered to your home with 12 months gaurentee. OK there was a chuck and a few (5) basic tools with the eBay Lathe but most turners going for a lathe like this would normally have these items already.
Looking at the 2010 Axminster catalogue its priced at £ 1349.50 so assuming that the lathe is a couple of years old at least it was a very good buy for the 1st owner.
Why do we see, countless times, items being sold on eBay at, about or above the price that they can still be purchased new?

I am a firm believer or second hand purchase but until people stop overpaying for goods on eBay I think I will become a seller rather than a buyer.

PS there are some bargins I recently picked up a Vicmarc for a quarter of the new price :-)

Your thoughts !

[woodndesign]

Very silly, I'd been watching this one as well.

[alisboy]

I agree with you that some people buying on e bay don't think about checking new prices. Last year I bought some items as a job lot which included a Fox Chuck which was not suitable for my small lathe (have only very small working area) so put on e bay and sold after fee's for a couple of pounds less than to buy new.

Ernie

P.S. wish i had held onto it now as am extending my workshop and buying a larger lathe as i enjoy the turning so much.
 

[Philip Green]

I watched this one as well but missed the last day or two. The last I saw it was about £550 and had not reached the reserve price.

In the original topic regarding this lathe, I suggested about £1,000. Others suggested about half the new price. From what I remember, the lathe was about six years old so no guarantee. £1,250 is much more than it's worth.

I think there is a kind of madness that attacks some people when they attend an auction. You can see this quite often when an auction is shown on the TV.

[woodndesign]

Someone must be happy out of all the 13 Bidders: went to 32 Bids ...  all private.

[Bryan Milham]

I agree with Statsman.

People get into the 'I must win it' mindset (I did it once).

Now I'll post a bid of about 2/3 new price (minus the postage) and sit and wait, win or loose.

[woody]

Health issues have forced me to sell all the contents of my workshop and I am pricing everything  at half the RRP and some of the machines are only 6 months to a year old this is the normal practice for second hand machines especially when the warranty has run out myself I would never pay over half price for any secondhand machine

[ru55ell1]

Interesting points, I personally would not go above half price, maybe I should work up a demonstration on buying second hand Turning Paraphanalia.
Anyone looking for bookings haha