I want to sell my Grizzly lathe I need advice


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I've had my Grizzly G0462 16x46 lathe it's around 8yrs old, it has low miles I have no real complaints with my purchase. I bought a new Jet lathe that has a few things that the Grizzly lacks and now I'll have 2 lathes and it needs to go. My question is what should my staring price be new this model goes for 1,025 https://www.grizzly.com/products/grizzly-16-x-46-wood-lathe-with-dro/g0462 I've heard that 50% of new price is what the buyer should expect to pay for used equipment, so what price would you start at so I get at least 50%? I usually don't sell woodworking equipment so this is a new situation for me, any advice would be helpful. thank in advance.

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I'd start higher as no matter what you set the price for people will only offer less than asking. Maybe start around 75% negotiate to 65% that way you are getting a deal and the buy thinks they are winning too.

The other option is to check used prices locally and see if there are any similar items that can give you some guidance.

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16 minutes ago, JohnG said:

I prefer to just avoid the pricing games, determine a fair value and stick with it. If someone offers less than your asking price, ignore them or ask them to lay out the logic to justify their offer. I hate pointless and baseless negotiation.

I agree with your logic I guess my other question would be how to determine the price of a used lathe that is 8yrs old and in good shape, everything works no rust, it has all it's parts and pieces and the manual. Is a fair price 50% of new or higher that is the part I'm questioning? I'm going to Craigs list to start I've never sold used equipment before, I given things to friends or relatives but this is worth a little more than I want to give someone plus I just bought the new lathe. Thanks for the reply John and Chestnut I guess I'll just start at 60% and see if that fly's.

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In my experience with Crag's list tool shopping, the better the condition of the tool, the more likely it is to be priced near the 50% of new point. It's the folks selling rusty piles of junk that seem to think their 'vintage' machine is worth 125% of its new equivalent.

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In addition to Craig's list look for turning and flatwork clubs near you.  Often they will let non-members post in their classified sections.

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