The exercise machine has been standing in the corner of the room for almost two years. It works perfectly and has barely been used. These days it mostly holds shirts.
You finally decide to sell it. You wipe it down, take photos, post a listing. You paid 200 euros, so you ask 150.
A week goes by. Then another. Someone offers 50.
"For that, I'd rather keep it."
And you do. Somehow you still don't start working out.
Sound familiar? Instead of an exercise machine it could be a camera, an armchair, a food processor or a drill used a handful of times. The things are different, the thought is the same: it feels wrong to sell cheap something that once cost a lot.
We remember what we paid. The buyer looks at what their money can get them today.
To us, the item is still tied up with choosing it, saving for it and the plans we had for using it. The buyer compares condition, price and other offers. They are not buying our memories of the day we bought it.
Psychologists have studied this for decades, and the feeling even has two names:
This is not weakness or greed. Almost everyone works this way. But once you know the feeling is there, it gets easier to tell when the item's value is talking and when it is just regret.
Of course, you don't have to accept the first offer. A low offer does not mean the item is worth only that much. But the price you paid is not the reference point either. The reference point is what the buyer can get elsewhere. Before setting a price, check three things:
A rough guide: an ordinary household item in good condition often sells for a third to a half of its new price. Things that date quickly (phones, computers) lose value faster. Quality tools, solid furniture and bikes from well-known makers hold their value better.
Sometimes the problem is not the price but the listing itself. Before lowering the price, check:
If it is still quiet two or three weeks after those fixes, the price is most likely too high. Lower it by a step the buyer will notice, say 15–20 %, not by 2 euros.
If months go by and the item still isn't being used, it is worth asking yourself: what am I waiting for? A buyer who offers an acceptable price, or the day I finally start using it myself?
While the item stands in the corner, the money you spent doesn't come back.
And waiting has a cost. The item keeps ageing, newer models come out, and a year from now the offer for the same exercise machine may be 30 rather than 50. It takes up space you could use for something else. Selling for less than you hoped, you at least get part of the money back. You free up space. And the item goes to someone who may use it every day.
That doesn't mean everything has to be sold off in a hurry. Set two limits in advance, before any offer comes in:
When the decision is made in advance, you don't have to negotiate with yourself every time.
"If I didn't own this item now, would I pay what I'm asking for it?"
If the answer is yes, the price is probably fair and it is worth waiting. If it is no, you probably know why nobody is buying.
A second question: will you really use it? If not, the item is already worth nothing to you, whatever it cost. Any amount you get is a bonus.
Sometimes a small sale isn't worth the time. If the item is cheap, bulky and hard to transport, or you simply want it gone quickly, give it away for free. That is often faster and simpler than haggling over 10 euros. And the person who needed it will be happier than any buyer.
On findings.lt you can list things for sale or to give away for free. They are shown on a map, so someone living nearby can discover what has long been waiting its turn at your place, without having to come from the other end of town. You can change the price at any time, and if you decide to give it away, just choose "Giving away".
Maybe in another home the exercise machine will finally become an exercise machine. And the shirts will make do with a hanger. 🙂
Good to know