Selling Your Guitar on eBay: Maximizing Price
Now that you've decided to sell your guitar and you've determined that eBay is the best way to do it, there are a number of things to consider in listing your guitar. This article will provide selling tips to increase interest in your guitar, maximize its' selling price and assure the safety of the transaction.
Preparation
Before you list your guitar, you may need to prepare it. In most cases you're probably aware of any deficiencies in it (if it has any, that is), such as buckle rash, a bad tuner or a defective pickup...but now is the time to double-check everything for your sake and the sake of the buyer. If it's set up reasonably well (no buzzing strings, proper string height, neck angle properly set and truss rod adjusted) and you like the way that it plays then all you've got to do is polish it up a little bit and shoot some pictures. If you're not sure that your guitar is ready for sale, then review the guitar from the buyer's perspective or have one of your guitar buddies critique it.
Feedback Rating
Your feedback rating may influence the interest of potential buyers looking at your guitar. It is indicative of how responsible you've been as a buyer and/or seller with your past transactions on eBay. Unfortunately, if you've got a poor rating there's not much you can do about it now so shame on you! However, if you've got one or two unfavorable ratings and they were really not justifiable, try to at least respond to the negative or neutral rating to help the buyer understand the situation.
Timing
Timing your guitar auction on eBay has two elements to it; the macro element and the micro element. When to sell during the year and when to sell during the week can influence the price.
Macro timing related to guitar selling and buying is generally of minor concern because guitars, as a product category, are more of a general goods. By that I mean to say that guitars are a relatively stable product and do not suffer from the short term life cycles and associated demand with high tech products like computers and digital cameras or recent release demands associated with books or DVDs. There may be some minor consideration given to the ‘gift giving' seasons, but on large part guitars are being purchased by the individuals who will actually be using the guitar. Essentially, the macro timing of listing your guitar to maximize your selling price can be ignored for the musical instrument category.
Micro timing your auction listing is much more of a concern. The real competition occurs at the end of the auction when the ‘buying frenzy' takes place by the bidders. It is because you want to take advantage of this that you need to time your auction's end when it will be available to the largest population. That means that you want your auction to end when people are available to participate in it and that means a reasonable hour on the weekend. Also, the time of day is an important consideration because of the national (and maybe even international) buying market. An auction that ends on the weekend at 7 PM on the East Coast will end at 4 PM on the West Coast. During the late afternoon in the West the potential buyer may be on the golf course, watching the end of a football game or out to dinner. You want to minimize the dead times for your auction so try to end in so that both the left and the right coasts can both reasonably be available for it. 9-10 PM Eastern Time should be able to accommodate everyone in a reasonable manner.
Title
The ‘Title' in listing your guitar is of paramount importance; it is the title that enables potential buyers to use eBay's search function. An eBay buyer of a quality preowned guitar generally is looking for a specific guitar and will search for that guitar and not generally just browse the categories. Make sure that your title allows the buyer to find it by the keywords that he or she is likely to use and consider using a variation in the actual title. For example, if you're auctioning a Taylor 814ce, consider placing ‘Taylor 814ce (814 ce)' in the title to ensure that it will be found. In this case, you can also add terms like ‘Acoustic Electric' or ‘Grand Auditorium' to match a broader search criteria. Avoid using hyperbole in your title (awesome, fabulous, wow, etc.) only convey to the looker a juvenile attitude by the seller and does nothing positive for you as the seller. However, descriptive title keywords that are relevant (used, mint, rare, etc.) may be appropriate. Just be brief and judicious in their use.
The Category
Placing the auction in the proper category is paramount in order to target the buyer, particularly the buyer that is browsing categories without submitting a search phrase. For example, the Taylor 814ce that I've previously mentioned would be placed in ‘Musical Instruments > Guitar > Acoustic Electric > Other'. Another option would be to place it in ‘Musical Instruments > Guitar > Acoustic > Right-Handed > Taylor.' Technically, this second category option is not as exact as the first one for proper placement. But the potential buyer may not be aware of that? To get around that ambiguity, consider placing the guitar in more than one category when you're listing it.
Auction Format
A sure way to lessen interest in your guitar is to solely use the ‘Buy It Now' (BIN) option. BIN can be used in conjunction with the auction format but in many cases this will be negated by a bid and only add to your listing fees. Personally, I greatly prefer selling (and buying) guitars that are strictly in the pure auction format. It is my strong contention that the fair market price for a quality guitar will be obtained by the increased interest of bidders who prefer the possibility of obtaining a guitar at a low price. However, in reality I've not yet seen one of my guitars not reach or exceed my expectations regarding selling price.
Starting Price/Reserve Price
I've listed several guitars at a starting price of one dollar and I've also listed several other guitars with a reserve price of approximately half of their market value. I am currently of the belief that for the quality guitar market the reserve price is a waste of money regarding the listing fees because the eventual selling price has always met my expectations. But I will admit that setting a reasonable reserve price brings with it a certain peace of mind. My basic recommendation is to set a reserve or starting price to meet your comfort level while realizing that you may be discouraging interest in it if either is set too high.
Caveat - Avoid Screwing Yourself
A sure way to ensure that the market price of your quality guitar will not be realized is by being stupid. Place your guitar in the wrong category and you will miss out on some of the guys with the money that want your guitar. Misspell the make or model of your guitar and you're dead meat. The reason is that in order to get true market value for your quality guitar, you must present it to the market that is interested in it in order for the competitive bidding process to be effective. And if you incorrectly list your item, you can bet that some bottom feeder will find it and get it for considerably less than market value. Then, in all probability, they will relist it properly in the future and garnish the profit that should have been yours. Believe me on this; there are a number of scavengers that very profitably operate their eBay business in this manner.
Description
Above all else, be honest in the description of your guitar. Be factual and avoid the hyperbole and glitzy buzz words. Buyers of preowned quality guitars already know that they great playing guitars and you can only diminish their view of you, as a seller, by coming across as a huckster.
Place the name and model of your guitar at the top of your description in bold text and include any differential attributes of your guitar with it. Clearly state the condition of the guitar and whether you are the original owner. Let the buyer know if it's been professionally set up. You do not need to be extraneous and tell the viewer why it is that you are selling the guitar; nobody really cares.
Provide a concise bullet list with the main features of the guitar. If you need help with this, go to the manufacturer's web site and get the information there. If the guitar is stock, state it. If it has any upgrades (different tuners or pickups), state it. If applicable, provide details of the grain on the guitar body and state the color.
Provide details of what is also included with the purchase with the guitar (i.e., original hard shell case, truss rod wrench, original hand tag, blank warranty card, etc.).
Finally, tell the potential buyer how you are going to ship the guitar and where you are willing to ship it. Also let them know what payment methods you accept. If you reserve the right to sell to certain buyers because of negative feedback, state your policy.
Photos
‘Seeing is believing' and ‘a picture is worth a thousand words' are two adages that you should heed when listing your guitar for auction. No matter how well you describe the guitar and its' condition it the details of the auction, the photos of the guitar will supersede, or at least reinforce, that description. The pictures will transform the ‘idea' of the guitar into an actual, tangible object.
One photograph is not enough and two are not much better. The reasoning is that a guitar, particularly a relatively valuable guitar, needs to be presented to the potential buyer is as much detail as possible. Closeups of the headstock and tuners, the fretboard, the front body showing the grain and the sides provide the visual details and need to be included to create interest. A wider angled picture showing the complete guitar in its' case is also important. And the often times overlooked picture of the back of the guitar body will alleviate or demonstrate the common buyer questions associated with rash burn or buckle wear.
Guitar bodies are highly reflective so the photographs should be taken without the use of a flash, or at least the use of a diffuser with the flash if your camera equipment allows. Natural light is generally the best alternative as it will minimize glare and maximize the true coloring of the guitar. A plain background by using a commercial backdrop or a plain colored sheet will remove any ‘noise' in the background and keep the viewer's attention on the guitar.
Post-processing your digital pictures may be required by you to enhance your images for the auction's listing. I am using the term ‘enhance' in this article in conjunction with making your photographs more consistent in their appearance and clear in their presentation; not to mask or conceal any flaws. Post-processing is strongly encouraged to crop the picture (particularly the closeup of the detailed pictures) and to add a touch of sharpening to the photograph (if required). You can also correct the color balance of the picture and adjust the brightness, if need be. Finally, the post-processing stage can be used to save the picture in a suitable format (preferably jpeg) and resolution (72 dpi). Most digital cameras come bundled with the software to perform these basic adjustments, and if you don't already have them you can search the web for some freeware or shareware programs to do this.
Using eBay's picture hosting service is the easiest and fastest way to manage your listing's pictures and the small cost to host the additional pictures is a sound investment. However, if you have your own web site or have membership to one of the photo hosting services, you can neglect this additional cost by self hosting your pictures. However, in order to do this you will need some web authoring/HTML skills.
Payment
Offering several methods of payment by the buyer is nice in that it allows some degree of flexibility to the buyer. However, offering PayPal as a payment method is pretty much a necessity and benefits you (the seller) as it will attract the largest audience. However, also consider accepting payment via a money order (common practice) or bank wire (not so common) to give the buyer another option and to avoid any seller's fees incurred in a PayPal transaction.
Shipping/Countries
Clearly state your shipping method(s) and include their cost. Whether you choose a flat rate charge or eBay's shipping calculator is your choice. A nominal handling charge is quite acceptable to cover your packaging costs, but don't make this an additional profit center and deter buyers with it.
Be advised that contrary to popular belief, the liability of getting the guitar to the buyer is the seller's responsibility. Protect yourself by insuring the package (even for partial value). You can either absorb the insurance charge or pass it on to the buyer. Above all else, ship to the buyer's confirmed address and get a tracking number to verity receipt by the buyer.
Shipping internationally can be a pain in the neck, but is worthy of consideration due to the fact that you will increase the bidding for your guitar. More bidding will translate into a higher price.
Return Policy
Offering a return policy is critical because it gives the buyer a degree of confidence that you are not trying to swindle them by misrepresenting your guitar. By stating that you will accept a return on the guitar you are not saying that the guitar is in perfect condition or that you are guaranteeing that the buyer will be happy with the guitar, you are simply stating that the guitar is ‘as described' in the listing. If you've listed a PRS Custom 22 and the buyer receives it and determines that he does not like its' tone, that's too bad for the buyer. However, if he or she gets the guitar and finds out that the neck pickup is bad and you did not disclose that in the auction then that is your fault and you would need to accept its' return. Providing that you have accurately and objectively described the guitar in the listing details and photos, and ‘guaranteed' in your return policy that this is what they will be receiving, you should have no problems.
Be Responsive
People spending big bucks on used guitars are cautious and are will ask questions regarding your guitar and your listing's conditions and policies. Be polite, answer them and try to accommodate them. Someone asks if they can pick up the guitar and save on shipping....Sure, no problem. Someone else would like some better pictures of the back of the guitar...Sure, I'll get them to you tomorrow. And someone else wants to know if you'll ship to Canada (or Italy, or Singapore)...I'll consider it. But you'll have to tell me how I would need to ship it to you; you'll have to tell me how much it will cost (verify this online); and you'll have to prepay X dollars over the auction price and I'll refund you the difference after the shipping fee is paid.
Yea, it can be a pain in the ass (especially international shipping), but you know that you've got a very interested party that will either win the auction at a higher price or simply drive up the price of the winning bidder.