Ouch, KEH

[dogberryjr]

We're in the middle of a move and I started examining all of my accumulated gear to see what I wanted to bring to the new place; it's amazing how the stuff seems to multiply when you're not watching. I donated three boxes of stuff to charity, then assembled a box of the better stuff to sell to KEH. I thought I was evaluating the items pretty fairly, and came up with an estimate that wasn't great, but didn't hurt too much. I sent the equipment off a few weeks ago and got an offer back today that is about 1/3 of what I'd figured. Ouch. But, what am I going to do, ask for it back and piece it out on eBay? 2018 resolution: No new gear, or at least a policy of one in/one out.

No real point to this tale, but it was nice to get away from packing for a minute.

 

[rgeorge911]

KEH is very conservative in their condition grading, a practice that I love when buying, not when selling to them. They are the best, imo.

 

[Steve M.]

Yes, pay the shipping back, and run eBay and RFF ads. Sacrificing two thirds of the value is too much to just write off. Price it maybe 15% under what it's probable sale price would be, take good pictures, and it will be easy.

This is assuming that you have items that people actually want, and I have no idea on that one. That is the largest determining factor......will the stuff sell if it's priced attractively? Is there a market for it?

 

[KoNickon]

Well, I think the main lesson, which I've experienced a number of times myself, is to always be prepared to receive an offer from a dealer that's quite a bit below what you expected.

 

[stompyq]

You think thats bad? The B and H used department valued my Rolleiflex 2.8E Planar at $120!

 

[kxl]

Here's the glass-half-full perspective: that gear was just gathering dust. Its utility value to you was $0.

Going from $0 to whatever amount you got is a good thing.

 

[dogberryjr]

KEH is very conservative in their condition grading, a practice that I love when buying, not when selling to them. They are the best, imo.

Agreed.

You think thats bad? The B and H used department valued my Rolleiflex 2.8E Planar at $120!

Okay, that’s just insulting.

Here's the glass-half-full perspective: that gear was just gathering dust. Its utility value to you was $0.

Going from $0 to whatever amount you got is a good thing.

Yeah, I’m going with this.

 

[Paul T.]

I'd never sell to a shop.

This spring I was trying to sell a book, a Rebus first edition, on commission. The big book shops on Charing Cross Road refused - not sure why. One said he'd buy cash; offered me £50.

When I finally found a shop run by nice people who'd sell on commission, they got £950 for it.

 

[css9450]

Well, I think the main lesson, which I've experienced a number of times myself, is to always be prepared to receive an offer from a dealer that's quite a bit below what you expected.

This, absolutely. The markup on used equipment is substantial.

 

[aizan]

they’ve got to make money, right? dealers buying gear at 1/3 it’s going rate is normal. i’m happy when i can get 1/2 just so i can get rid of it fast.

 

[JP Owens]

I've had mixed experience selling to KEH. At times, they have offered me more than I expected (and more than their estimate). At other times, they have lowballed gear so badly I just told them to send it back. I can't find a pattern, though. Seems kind of random.

I've never been disappointed in gear I've bought from them, though.

 

[dogberryjr]

they’ve got to make money, right? dealers buying gear at 1/3 it’s going rate is normal. i’m happy when i can get 1/2 just so i can get rid of it fast.

Their offer was 1/3 of what I’d calculated using KEH’s own estimator tool.

I guess at a minimum it makes me more likely to consider BGN and UG items in the future.

 

[DNG]

Yup.... They buy at wholesale or less, depending on popularity to sell it.

A camera that sells used for $100 will get an offer of $20-30 at best. They will TRY to sell it at $100, but may need to deal and sell for $80... meanwhile, it took up a few hours of sales pitches at "lookers" (hourly paid people) and space in a cabinet.

So, there has to be some meat left on the bone for KEH.... their cost to sell the $30 camera that they bought...... $30 to buy it, $20-30 to sell it, So, $100 dropped to $80-$30 (cost)-$30 (wages)= $20 profit....

So you will never get "retail" when you sell to a dealer who needs to pay wages to sell it and subtract the cost that has to included in their new selling price. (Watch Antique Archaeology on the History Channel... These pickers have to buy at a lower price than what the retail is, or they go out of business if they make no profit).

$120 for Rollie F 2.8 is nuts.

 

[Ecnarongi]

I'd never sell to a shop.

This spring I was trying to sell a book, a Rebus first edition, on commission. The big book shops on Charing Cross Road refused - not sure why. One said he'd buy cash; offered me £50.

When I finally found a shop run by nice people who'd sell on commission, they got £950 for it.

I guess the nice people are members of the Antiquarian Booksellers Association (ABA), the bigger book shops not -- 😉

 

[Huss]

I'd ask for it back and sell it at half retail value. You'd still be waaaay ahead and also make some buyers very happy.
Win win.

 

[icebear]

If you want to trade used stuff in you typically make a much better deal than asking for immediate cash from the reseller. Still better than cash now is to give it in for commission and wait until it sells and get the cash after the sale ... this can take some time though...

 

[Timmyjoe]

I sold my whole lot of Canon FD equipment to B&H back in 1996 and felt I got a fair price, it might be different now. I have on two occasions attempted to sell items to KEH, and both times I felt they WAY lowballed me and I turned down both offers.

I find the classifieds here work well, as well as a few other photo forum sites. Last resort I go to the auction site.

I understand that shops like KEH are looking to make something off your gear, and have overhead costs, and that's one reason why I like to sell on my own. If I have a piece of photographic equipment that I think is worth $500, I'd much rather it go to someone on this site or one of the other sites I frequent, at a loss, say $300, when I know that loss means someone I generally know is getting a good deal, than for it to go to KEH or some other shop, where I would get the same $300 and they'd resell it for $500.

Good luck with your sales, I really hate selling equipment.

Best,
-Tim

 

[aizan]

Their offer was 1/3 of what I’d calculated using KEH’s own estimator tool.

I guess at a minimum it makes me more likely to consider BGN and UG items in the future.

ouch, indeed. i suspect the problem is that their definitions of condition ratings aren’t very precise and reliable. they really should make a visual dictionary for cosmetic and mechanical condition.

 

[ptpdprinter]

Put the stuff on eBay with an opening price of whatever KEH offered you plus 10% (to cover the fee) for a 10 day sale. You'll soon find out whether KEH's offer was reasonable. However you come out you'll know what to do next time.

 

[NeonKnight]

I feel like they purposefully lowball with the hope that you won't want to deal with waiting for them to return your gear and sell elsewhere. They really need put prices up that faithfully reflect what they are willing to pay. 1/3 of the estimator just seems way out of line.

Their offer was 1/3 of what I’d calculated using KEH’s own estimator tool.

I guess at a minimum it makes me more likely to consider BGN and UG items in the future.