Sellers: When do you drop your price?

Others have covered the ground. My approach to selling begins with buying. The last time I bought something not in original shipping cartons it arrived on a pallet with bits of cardboard held together by twine. You could literally see more of the speaker than the box it was supposed to be in. Always keep your shipping cartons, always take lots of clear pictures, and always clearly state it will be safely and securely packaged in original shipping containers. These few things are worth big money in my experience. You don't have any of them. 

My psychology is quite different than most. I do sometimes put a little extra in the price but mostly I look around see what there is and price mine to sell. Because you can be sure someone out there is watching and waiting (what I do!) and when they see the price drop they don't leap they drool at the thought of..... the next price drop! Price drops are weakness. They show you are weak, the market is weak, maybe the piece for sale is weak too. Don't kid yourself, that is how it works. 

"There's actually a legal standard for this, which is applied in cases such as condemnation and eminent domain disputes."

cleeds -it's just audio gear. Pricing a 2nd owner piece of audio gear just 33% off retail and WITHOUT original packing is likely to  remain.....listed.

@stereo5  My feelings aren't hurt. I appreciate knowing why you won't buy my gear and perhaps others will see things the way you do. If so, I'll drop the price and change the title. That's good advice. I will wait a while and see how it goes. Will try to update folks so they can see how they're predictions bear out. (Betting pool in 3...2...1...just kidding.)
@dill  Excellent! An oversight. Thanks!
@donvito Didn't mean to do that, just have not posted it here yet. My OP didn't include a link or mention of where I was selling it; you saw that, right?

I have had a lot of success selling components but I do somewhat panic for no reason.  Recently, I sold a DAC.  I had 5 offers from one guy who also bid on something I had 5 years ago.  All Low ball offers and having to listen to him tell me that I will never sell it for the price I am listing it at.  I got 3 other offers....again all low ball offers.  It does make you think.  I think people automatically assume a used piece is worth 50% of the retail value even if it is less than one year old.  

I did get a decent offer after three weeks.  The buyer and I were both happy.  It really depends a lot on the brand.  If it is a known brand people will tend to pay more because they know they can turn around and sell it if they don't like and they won't lose money.  It is harder to sell boutique components.  

It appears as if there is a mark on the front face below and left of the aux  button. ANY mark on the face will make the grade a 7 if you go strictly by the rating scale. For many, over rating an item will be a red flag. It is a nice looking piece and 7 seems harsh, but that is what the rating scale states. It is always better to under promise and over deliver. As already mentioned, not having factory packaging causes it to take a hit. I also see no mention of an owner's manual. All of these things make a difference in price. When looking on HiFi Shark, I see these going from $1000 to $1300. The SE version is going for a bit more, but still not up to your asking price. You can let it sit there at that price, but I have my doubts that it will sell until you are within the range listed above. Good luck.