Depreciation on Equipment

[Gman44]

I know when selling your used Equipment we all would like to sell it for top dollar or just get rid of it?

I know when purchasing used Equipment we all would like to get it for next to nothing most of the time?

So when determining the purchase price of a used item, no matter if it has been used for a short time or for multiple years...is there a formula determining what is a fair price or market value?

15% each year of use?

[JLake]

Would you really buy something if it was a year old and 15 per cent off? Seems like brand new would be a better deal there.

[Gman44]

my issue is that I've ran into a lot of sellers who want to much for their used stuff...not maybe here on this forum but on want ads for example?

just checking for some feedback...thanks for the response.

[Jaykit]

It depends on the item that you are buying/selling. Something like an fx5 you could sell for more because everyone is looking for them. Other items you may not even get half of what you pay for them. And other times if things are just priced too high they sit there for so long until the price is lowered or someone comes along that really wants that item.

[jvision]

I honestly can't stand Kijiji as most people there seem to think their used stuff is worth about 80% of new. Personally, I think 60% of new or less is what I look for on individual equipment. For systems, it's probably closer to 40% or less.

[Gman44]

my thoughts exactly...I'm just a cheap bastard.

[rjsomers]

I'm cheap but believe in fair.

My own personal formula all be it weird is for anything up to 50g - tank only - $1 per gallon

If it includes a glass top $1.5-2 per gallon

If it includes a glass top and light in working order $2-3 per gallon

Once you get into adding stands and accessories I have to really weigh knowing what I can buy things for new and what will likely need repairing - i.e. filters with impellers, bio-wheels etc that start at about $12-15 each.

Obviously I am also cheap and LOVE Free or trades - asked fishclubgirl

But I am also one to be informed on what I can get where and for what. Love when people post their deals or rather steals.

1 guy on kijiji had 2 tanks 10g and 7g with afew assorted accessories for freshwater but not enough to get both tanks running and wanted $175. He said it was unfair to sell for less since he paid over $250. If he did someone fleece him bad.

[JLake]

Agreed with Jvision, buying used is a risk. If its not cheap enough I would just buy new for my own protection. I would prolly just ask for half of what i paid on most items.

[fishclubgirl]

I always figure it's a "sunk" cost so whatever I recover is a good thing. Since I sell more livestock, I don't try and sell my equipment just trade or sell at the auctions.Not a big fan of "nickel and dimeing" and would rather have it gone. Having said that, my fish have been so prolific lately, I need all the filters, tanks, heaters, etc. that I can have. Also have S.O. that I can "borrow" tanks, filters, etc. from..

[JLake]

Totally agree with Fclubgirl. Its nice to get anything. Being in fish keeping cost money i know this. I enjoy getting deals and in turn I give deals on equipment and livestock. I rather give my equipment to someone(or sell cheaply) who is just starting fish keeping or just advancing past the 33 or 55 gallon stage. Kijiji does make me laugh sometimes when you see 33 gallons for 250 dollars just because thats the total they spent on the tank. Some people just have cheeks that are clinched so tightly I would rather never do any sort of "buisness" with them no matte rhow badly I want that certain item.

[werner]

You want cheap stuff? Garage sale season is coming up. You wouldn't believe what I've gotten for $5.

[jewels]

since he paid over $250. If he did someone fleece him bad.

ANYTHING is worth what someone will pay for it. :ph43r:

[fishclubgirl]

My good friend Werner is totally right(for once) about the garage sales but she pays too much. My dad is under strict instructions to buy any box of fish stuff that's a dollar at a garage sale, flea market, etc. He's gotten some awesome finds for me. And Werner, your scuba diver is from one of those boxes. Anything I can't use, I find someone else who needs it or donate to the club auctions..

[timbruun]

Very true. Also on the other end it's not worth it unless someone buys it.

[rjsomers]

I may have to start taking my weekend mornings off to start garage saling again - Groom in the afternoon / evening.

But who will watch the kids???? Maybe I can hire Maddie she seems to like my oldest. LMAO

I do prefer trading stock / stuff or even pet grooming services. I believe in the barter system!!!