Steps to Check Market Prices Before a Used-Goods Transaction
In used-goods transactions, half of the losses come from naming a price without knowing the market rate. If you list too high, it will not sell; if you sell too cheaply, you lose money. The same applies when buying: if you pay above market price, that money slips away. Spending just 10 minutes before the transaction can help you find a fair range.
| Section | Key summary |
|---|---|
| Introduction | If you list too high, it will not sell; if you sell too cheaply, you lose money |
| Why you should check 'sold' listings, not 'for sale' listings | Reason and standard in brief |
| Condition and included accessories determine the price | Short key point |
| Order for checking market prices | Confirm the product's exact model name, capacity, and color |
| Selling and buying require different strategies | Short key point |
| Market price is the completed price, not the asking price | In used-goods transactions, the active listing price is only what the seller hopes to receive |
Why you should check 'sold' listings, not 'for sale' listings
The price in a for-sale listing is only the seller's asking price, so it does not prove the item will actually sell for that amount. The real market price is found in listings marked 'transaction completed' or 'sold.' Even for the same item, active listing prices are often 10~20% higher than completed-sale prices.
Condition and included accessories determine the price
Even for the same model, the price can vary greatly depending on whether the box and accessories are included, how long it has been used, and how many scratches it has. When checking completed listings, do not look only at the price; review the condition shown in the photos and the description as well.
| Condition | Features | Compared with retail price |
|---|---|---|
| Unopened / like new | Full accessories included, no signs of use | 75~85% |
| Good condition | Minor fine scratches, works normally | 55~70% |
| Shows signs of use | Visible scratches and wear, works OK | 40~55% |
| Has defects | Some functional issues or faulty parts | 20~35% |
For example, if an item has a retail price of 500,000 won, the market range for good condition is roughly 270,000~350,000 won. Within that range, adjust up or down based on included accessories and length of use.
Order for checking market prices
- Confirm the product's exact model name, capacity, and color. Even if items look similar, different specs can mean different prices.
- Search the same model name across several used-goods platforms and turn on the 'completed transaction' filter.
- Collect at least 10 completed listings from the last 2~4 weeks and write down the prices.
- Exclude the single highest and single lowest prices as outliers, then find the median of the remaining prices.
- Honestly assess the condition of your item, or the item you plan to buy, using one of the 4 levels in the table above.
- Reflect the condition level in the median price and set the final price within ±10%.
Selling and buying require different strategies
When selling, start 5~10% above the median to leave room for negotiation, but lower it to the median if you receive no inquiries within a week. When buying, contact listings at or below the median first, and do not hesitate when you find an item in good condition priced below average, because it may disappear quickly.
Market price is the completed price, not the asking price
In used-goods transactions, the active listing price is only what the seller hopes to receive. The real market price is in completed listings. If you gather 3~5 completed prices for the same model in similar condition with similar accessories, you get a baseline for buying or selling.
When selling, start slightly above the median to leave room for negotiation, and adjust quickly if there are no inquiries. If you are buying, it is realistic to start with listings in good condition at or below the median.