My son worked hard to save his money so he could buy his own entry-level gaming computer. Over the last year-and-a-half he’s upgraded some components, leaving him with a small stash of used computer parts.
To raise some extra cash, he’s interested in selling those extra parts, since they’re not doing him any good just collecting dust on his closet shelf. He asked me to help him put the items on Craigslist, but he’s not sure how much he should ask for his used electronic components.
We came up with a reasonable asking price for his items by following these five steps.
- Research other items on Craigslist: We searched Craigslist for similar items and compared them to the ones he wants to sell, and what asking price was given.
- Look for similar items on Amazon: Same logic as checking Craigslist, but maybe a little wider perspective given that there are companies attempting to sell the items on Amazon. It may give a more accurate read on what the items should really sell for.
- Use websites for comparison: There are likely countless websites that would help estimate the current value of used items. WorthMonkey.com worked well for us, providing an estimated worth of each of the items my son is trying to sell.
- Cut the retail price in half: If an item isn’t that old, which is the case with my son’s items, they can still be purchased new. I suggested that he take the retail price of the item, and cut it in half for a possible asking price.
- Check with a local reseller: Local resellers of used computer parts can be found in almost any community. If we we are unable to sell his parts on our own, we can then bring them into a nearby computer repair store that buys used parts. They will likely not give us as much for the items since they also have to make a profit. We could also take the parts in just to get a quote from them to get an idea of their worth.
By using these five steps, we were able to determine a fair asking price for my son’s used computer parts. We posted them online, and are now waiting for interested buyers. We have our fingers crossed, and hope to have some extra cash in his pocket soon!
Have you ever sold used computer equipment? Do you have any other tips to share for determining a reasonable asking price?
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