Resale value

To answer OP, never, ever.

People who don't consider resale must have better access to dealers, or other audiophiles, where they can audition equipment and insure they are making the best buying decisions. In much of the country quality hi-fi dealers are few and far between and opportunities to audition are severely limited. In this scenario, buying/trying is the only option. Knowing you can resale for little/no loss is key to auditioning different equipment.

Unless you have deep pockets, and like to foolishly blow money on your hobby, considering resale is a must for many. Of course cigarette companies, Starbucks and movie theaters/studios depend on people foolishly blowing their money, so there must be a pretty big pool of free spenders out there.... 

This is just my opinion and I'm sticking with it.......

Enjoy the hobby, on whatever budget you've set aside.

Oh, and lastly, I've been buying and selling on AudiogoN since 1999/2000. I've yet to have a significantly negative buying/selling experience. Diligence in product research and proper product packaging is key. Also a good dose of skepticism doesn't hurt. 

One last thing, I don't think you can depend on magazine/on-line reviews in lieu of an actual home audition. I've bought many highly reviewed products that did not meet my expectations when I put it in my system. Knowing the potential resale value saved me a lot of time and money on the back end... 

tonyka

If you backpedal some, you’ll find that I never claimed that Audiogon ensures liquidity, only facilitates it

Here's what you actually wrote that was so erroneous:

The stock exchanges don’t "ensure" liquidity, they simply facilitate it (very much like Audiogon).

Let's please move on now.

I always buy used to begin with and look for solid deals where I 'shouldn't' lose money if and when I decide to part with the component.