How do I work out what a second-hand item is actually worth?
Asking prices tell you what sellers hope for. Sold prices tell you what things are worth — how to find them, and how to adjust for condition, completeness and timing.
- Difficulty
- beginner
- Time
- 20 min
- Read
- 3 min
Short answer
Find what identical items actually sold for, not what they are listed at. Most marketplaces let you filter to completed or sold listings, and that filter is the whole technique. Then adjust for condition, whether the accessories and box are present, and whether the model is still supported. Ignore listings that never sold — they are the definition of over-priced.
Both buyers and sellers routinely value used items from asking prices, which are the one number guaranteed not to reflect the market. An item listed at a high price for eight months is evidence of what something is not worth. Sold prices for the same model, in similar condition, over the last few weeks are the only reliable guide, and they are usually two clicks away.
Step by step
- Identify the exact model and year.Model codes matter enormously in used pricing, and near-identical model names can be different specifications with different values. Find the code on the item itself, not from the listing photo.
- Search sold or completed listings only.Auction and marketplace sites let you filter to what actually sold. That is the real market. Take a range across several sales rather than the highest or lowest single one.
- Adjust for condition against those sales.Compare with what the sold items were described as. Cosmetic marks matter less than function; missing parts, no charger and a worn battery matter more than people expect.
- Check completeness and paperwork.Original box, accessories, manuals, service history and proof of purchase all add real value, and for some categories the paperwork is most of the difference between two identical items.
- Adjust for support and spares.Anything that needs software support, a battery, or a proprietary consumable is worth much less once support ends or the part is discontinued. Check both before agreeing a number.
- Account for the selling costs if you are the seller.Platform fees, payment fees, postage and packing, and the risk of a return. The realistic net figure is often noticeably below the sale price.
- Set your number before you negotiate.A walk-away figure decided from the sold-price evidence, written down. Negotiating without it means negotiating against the other person's number.
Tips
- Seasonality is real: garden equipment, bikes and heaters all sell for more at the start of their season and less at the end.
- Collection-only items go for less than posted ones because the audience is smaller. Factor that in whichever side you are on.
- For anything with a serial number, check it is not reported stolen and that any activation lock has been removed before agreeing a price.
Common mistakes
- Valuing from asking prices — Asking prices include every over-priced listing that will never sell. They systematically overstate value, which is why sellers who use them wait months.
- Valuing from the original purchase price — What you paid is irrelevant to what a buyer will pay. Depreciation is not a matter of opinion and it is not recovered by holding out.
Questions people ask
What if there are no comparable sales?
Widen to similar models and adjust, or look at what a dealer charges for a refurbished equivalent and work down from it. For genuinely rare items, an auction is the mechanism that discovers the price for you.
How much below the asking price should I offer?
Base the offer on sold prices rather than on a percentage of the asking price. An offer justified with evidence is far more likely to be accepted than an arbitrary reduction.