How to Set a Price When Selling Used Items
Your Own Items Always Look Expensive to You
Items you bought yourself often feel more valuable than they really are because of the memories attached to them and the money you paid. That is why the first asking price often fails to lead to a sale, and after dragging things out for weeks, you end up letting the item go for very little. If you remove emotion and start with numbers, you can name a price that is realistic from the beginning.
| Section | Key summary |
|---|---|
| Your Own Items Always Look Expensive to You | Practical method in brief |
| First, Check the 'Sold' Prices for the Same Item | Collect 3 to 5 prices from completed transactions, not the asking prices listed in sale posts |
| The Basic Formula for Depreciating from the Purchase Price | For electronics, value is generally assumed to fall by 20 to 30% per year |
| Build Room for Negotiation into the Price in Advance | Use the median of 3 to 5 completed sale prices as your base price |
| Condition and Included Accessories Decide the Price | If the box, manual, and accessories are all included, it is easier to get +10 to 15% |
| The Price You Want and the Price That Sells Are Different | Used items feel more expensive to you because of what you paid and the memories attached to them |
First, Check the 'Sold' Prices for the Same Item
Collect 3 to 5 prices from completed transactions, not the asking prices listed in sale posts. Completed sale prices for the same model in similar condition are the real market price. A price set without knowing the market rate is usually unrealistic.
The Basic Formula for Depreciating from the Purchase Price
For items where you cannot find a market price, it is reasonable to depreciate from the purchase price based on how long the item has been used. For electronics, value is generally assumed to fall by 20 to 30% per year. Set a starting price first, then adjust it against market prices.
| Item | Purchase price | Period of use | Starting price after depreciation |
|---|---|---|---|
| Small home appliance | 120,000 won | 1 year | About 84,000 won (30%↓) |
| Clothing and bags | 200,000 won | 6 months | About 100,000 won (50%↓) |
| Furniture | 300,000 won | 2 years | About 150,000 won (50%↓) |
| Books and hobby goods | 30,000 won | 1 year | About 12,000 won (60%↓) |
Build Room for Negotiation into the Price in Advance
- Use the median of 3 to 5 completed sale prices as your base price.
- Add about 10% to that median for the first listed price to leave room for negotiation.
- Decide in advance on the lowest price you are willing to accept and write it down.
- Say that negotiation is possible, but only lower the price within the range above your minimum.
- If there are no inquiries for 1 week, lower it by 5 to 10% and list it again for exposure.
Condition and Included Accessories Decide the Price
- If the box, manual, and accessories are all included, it is easier to get +10 to 15%.
- Be honest about scratches or functional issues and reflect them with -10 to 20%.
- Take at least 5 photos in natural light, and photograph flawed areas honestly as well.
- If you need to sell quickly, price it 5 to 10% below the market rate to increase turnover.
The core of secondhand trading is not 'getting the perfect price' but 'selling at the right time.' A price set around the market median with a little room for negotiation sells quickly and ultimately prevents the loss of being pushed down to a giveaway price.
The Price You Want and the Price That Sells Are Different
Used items feel more expensive to you because of what you paid and the memories attached to them. But buyers look at how much similar items have sold for in the current market. First check 3 to 5 completed sale prices rather than asking prices in listings.
Condition and included accessories can change the price significantly. If you honestly state scratches, whether the box is included, the warranty period, and the period of use, negotiations decrease and the sale moves faster.