The home theater system market is booming as more and more people begin to recognize the awesome entertainment value a good system provides. The entry-level buyers are coming out in large numbers as news circulates that home entertainment systems are an affordable option for almost any household.
If you are like many home theater owners, you might be considering upgrading your system. There is probably nothing wrong with the system you have already assembled, but after tinkering with it and seeing some of the newer options available you might just feel like it's time to 'move up a notch' by investing in superior components.
What are you going to do with your old home theater system? Assuming it is more than an antiquated television set and a BetaMax VCR, you probably should consider selling it.
Lower end systems are in high demand on the new market because of price considerations. First-time buyers and those at the home theater socioeconomic periphery are looking for ways to experience the joys of superior home entertainment at a price that meets their needs. They are amenable to purchasing used components-especially if the purchase will save them money.
If you opt to sell your existing home theater system, you will first have to determine what constitutes a fair price for the technology with which you are parting. One certainly wants to make as much money as possible off the sale. However, it is equally important not to overprice the system so that buyers are not scared away.
In order to determine a fair asking price, it is important to first stop thinking about what you spent on the system. Too often, sellers become concerned with their initial investment and hope to recoup a figure close to that cost. This perspective may be understandable, but it is really little more than a pipe dream.
This is because the price of technology, especially pre-existing technology, drops every day. Systems that cost several thousand dollars only a few years ago may today be rivaled from pre-boxed products that only cost a few hundred dollars. If one becomes hung up on their investment level, they may have a hard time determining a fair price.
One should look carefully at his or her components and then try to discover what similar pieces, offering the same performance levels and featuring the same attributes are currently fetching. That number should then be at least halved when determining a reasonable asking price.
Why such a draconian cut in price? It's due to a combination of factors. First, the products you will be selling probably lack any guarantee or warranty. This, in and of itself, is reason to cut price considerably. Second, the equipment you are selling is used. It may be gently used and you may have maintained it religiously, but it is still used. Any buyer will be taking this into account, so should the seller.
Used equipment can be sold through online venues like eBay or via a traditional classified ad. When selling the equipment, the research you performed in order to set a price will come in handy. You should take the time and effort to describe the product and contrast its capabilities with new models with the same attributes. When they customer sees what they will be paying new for the same level of performance and then sees that your price is only one-half of that, a sale is likely.
One may want to pad the price tag somewhat in newspaper sales situations to provide some wiggle room during negotiation. Used equipment buyers tend to angle for the best deal and will often try to secure an even lower price than the one advertised. If a seller builds some leeway into the asking price, their ability to effectively negotiate is improved.
Your home theater system provided you with some memorable television and movie moments. It entertained your family so much that you are now considering taking the next step and investing in an improved system. Now is a good time to allow someone else to enjoy the system, too. By selling your used electronics equipment, you can put a great system into a first-time buyer's hands while also putting some cash in your own pocket
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