Baffled by Pricing Strategy

I’ve raised a price on an item, typically within one hour of posting if I feel I listed it too low. 

I’m not sure what others’ strategies are, but I can see a few reasons:

1. At the time of listing, there are perhaps other similar listings that are priced lower. If they all sell and only one is left, perhaps the seller thinks they can make more money since there isn’t any more competition. 

2. If it is a current model, perhaps manufacturers recently increased the retail price, making the used price also go up. 

Maybe believers in the fallacy that more expensive products are better. Kind of like some companies won't allow their stuff to be "on sale" because it supposedly cheapens the brand.

@brewerslaw

I’ve been baffled by audio gear pricing for years, so you are not alone. I have no doubt that some (or many) listings are because a spouse has demanded to "get rid of all your extra junk not being used". Sellers post an item at a ridiculous price, knowing it won’t sell at that price and not even entertaining fair offers, just so they can say, "I tried selling it, Honey!".

I posed a question in a post a while back regarding a turntable that must have been listed 4 or 5 times over a year. The price never changed and I asked at least 6 questions that went unanswered. Same with a Sota table I’ve seen listed for what seems like a year -- without a change in the $1,500 asking price. Tell me you don’t want to sell something without telling me you don’t want to sell something. LOL!

Also, you’ll find Audiophiles have a "overly optimistic" opinion of what used 5 to 10 year gear is worth. While post-pandemic isn’t the best example to use, but in "normal years", buy a new automobile at the dealer, drive it off the lot, and bring it back 6 months later to resale. You think you’re going to get 80% or more of the original purchase price back? Again, discount the current bizarre 2 year period we’ve seen -- car inventory will bounce back to normal levels within the next 2 years.

Good luck on the purchase attempts.  I hope you have better luck than I've had.  My best purchases this year have been through building Social Media relationships.  I've purchased a pristine Audio Research SP17 with phono stage for $1,200; a McIntosh MC-225 built in 1963 that is nearly flawless with original McIntosh branded tubes-- just a little lettering on the "Spec Edge" is rubbed off -- for $2,500; and a mint condition Dennis Had Inspire 45 Fire Bottle amp and LP3.1 preamp with new Emission Labs tubes for $2,200.

Maybe they really don’t care if it sells or not. And if they can get the higher price they will sell it. 

Unfortunately, buyers are constantly low balling sellers, therefore, in some instance, a seller will inflate their price to help offset the low ball offer. It’s just a stupid game.