General Rules for Pricing Used Furniture & Appliances
Used furniture and appliances are an affordable option for furnishing a home. Pricing these used items depends upon the overall condition, usability and age of the appliance or piece of furniture. Supply and demand is also a consideration when pricing a used household furnishing. In general, it is best to price the item low enough to sell but high enough to make a profit.
Evaluate the Condition
People often inflate the price of used furniture and appliances with the expectation that the return will be enough to buy a brand new item. Unless the used furnishing is a collectible or an antique, chances are that the item has depreciated greatly. Wear and tear, age and frequent use force the price of used furniture and appliances to a level that is much lower than the price of a similar new item. It is important to honestly evaluate the condition of the item and price it accordingly. Check to see if the piece of furniture shows fading, damage, staining or weathering. If there is noticeable wear and tear, price the item at approximatelly 1/4 of its original sale price. If the furniture or appliance does not show a large amount of noticeable damage, price it at 1/2 of its original value. For items that are less than one year old and look almost brand-new, price them at 3/4 of their original price. As a seller, be willing to negotiate a price on used furnishings.
Consider the Market
Household furniture and appliances will generally sell for what the market can bear. In general, used furniture and appliances that provide for the basic necessities in life will be more likely to sell than unnecessary items. Mattresses, beds, couches, tables, stoves, refrigerators and microwaves are in greater demand than coat racks, armoires and curio cabinets. As a result, these high-demand items should be priced affordably and competitively. Mattresses should be priced according to their size, couches according to whether they have a hide-a-bed, tables according to how many they can seat, and appliances according to their functionality. Unnecessary items can be priced to sell or inflated in price with the goal of appealing to a unique consumer. For those items, you might have to wait for just the right buyer since demand is not as high. Prices on collectibles and antiques can also be inflated due to their intrinsic value.
Price Competively
In order to price used furniture and appliances, you must do some research of your competitor's prices. Check the classified section of the newspaper, online auctions and secondhand store prices to set your price accordingly. If you price your used furniture and appliances competitively, you will ensure that your used merchandise is not overlooked. People who are looking for used furniture and appliances are generally shopping for a bargain. As a result, they want to feel like they are getting a good deal for the item. If you price your used items comparably to other used furnishings in other locations, a buyer will consider your merchandise. Otherwise, they will just shop somewhere else.
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