Buying used vs. New

Market forces set prices and nothing else. No buyer or seller can dictate price, unless they are educated in the current market for their goods.

Value is established at the point where willing buyer and willing seller converge.

I think that Tvad hits it, and with only three transactions of record on Audiogon, I am not sure that Learsfool has the breadth of experience, or knowledge of the secondary market, to be the arbiter of apropriate pricing.

Actually Viridian, I would say that Tvad hits my point exactly when he says no buyer or seller can dictate price, "unless they are educated in the current market for their goods." I would actually go farther and say current, past, and expected future market (witness the sudden jump in price quite recently of used Thorens 124's). However, I disagree strongly with the statement that only the market sets the price, particularly in the used market, in which prices vary much more greatly than the new market. Macrojack is correct, I feel, in speaking of willing buyers and willing sellers converging. That's a very good way to put it. There are many people out there who won't buy anything above a certain price point because they are too cheap, and there are also many out there who insist on paying far more than something is worse because they can't believe that something is worth buying unless it is expensive, and many, many levels in between, combined with many levels of knowledge of what they are buying.

The comment that I don't have the breadth of experience or knowledge of the market just because I only have three transactions on this site is illogical on the face of it, and frankly is insulting. It certainly says much more about you and your assumptions than it does about me. I thought that sort of personal attack was not allowed on this site - it certainly doesn't reflect well on audiogon. I never said I was the "arbiter of appropriate pricing." I was merely pointing out a very general rule of thumb that is widely accepted in high end industries of all types. There are of course always exceptions, especially to such a general rule as that.

08-28-08: Learsfool
Macrojack is correct, I feel, in speaking of willing buyers and willing sellers
converging.

This is precisely what constitutes a market.

08-28-08: Learsfool
I disagree strongly with the statement that only the market sets the price,
particularly in the used market...

If willing buyers and sellers converging is what constitutes a market (and it
is), then it is nonsensical to disagree with the idea that the market
(willing buyers and sellers converging) sets the price.

Your post indicates more education is required on your part to understand
the market concept, because on one hand you seem to understand elements
of a market, but on the other hand you make statements that would never be
made by someone who understands the concept.

Now, there exist different paradigms for different buyers. Some buyers focus
on items that are only priced, or available, at 50% or less of their original
retail. These buyers will limit purchases to items that fit this criteria. For
these buyers, the 50% rule applies all the time.

There are other buyers who do not limit their choices to items available only
at 50% of retail, or less. These buyers have the advantage of purchasing from
a wider pool of available components, but they may pay more than 50% of
retail if the market dictates a higher price. These components will not be
available to buyers in the first category, because an offer of 50% of retail for
one of these items will fail, and a buyer willing to pay the market price will
win the item.

So, I see the possibility of both scenarios being correct, and appropriate to
their core buyers.