Selling a used speaker system can take a lot more effort than one might initially think. Plus, it can require quite a bit of specific knowledge. Oftentimes, the effort and risks involved can cause you to just give up and let that gear just collect dust in the corner of your warehouse.
Here are some things you need to know to safely and effectively sell a used speaker system. Whether it is a complete line array system or just some speakers and subwoofers, you have four options for selling that gear.
Word of Mouth
This may be the simplest—yet riskiest—way to sell equipment. It involves reaching out to anyone you know in the industry, sending an email, or posting on your own social media. You should be prepared to quickly become an expert in payment processing, shipping, and logistics, because that’s what you’re signing up for! And, as you will see further down in this article, selling gear yourself can be costly when mistakes happen.
Facebook has tons of great groups for buying and selling equipment, and if you’re confident that you can handle a transaction, it will likely be your cheapest way to sell gear. Again, though, you’ll have to negotiate payment processing, shipping, and logistics all on your own.
However, selling on Facebook also has its risks. You should be prepared to deal with lots of non-interested buyers: we estimate that only 1 out of every 20 inquiries is a genuine lead. Plus, recently, scammers have targeted those groups.
You should also consider that, while this may be the cheapest way to sell used gear, buyers on Facebook may only want to buy some of the items in your listing. You may have to part your collection out to multiple buyers which would increase how long it takes to sell your gear.
Brokers have a lot of experience with selling used equipment and can help you navigate the sales process. Therefore, this route possesses little risk for fraud, and most of the payment processing, shipping, and logistics work will be lifted from your shoulders. However, this is the most expensive route, costing anywhere from 10-15% of the sales value of your gear. On a rig that sells for $135,000, brokers can take up to $20,000 in fees alone.
You should be cautious that, in the case of a dispute with the buyer or seller, brokers may hold onto a payment for as long as 30 days to make sure both parties are happy with the transaction. While it is understandable that they would do this in order to protect themselves, it may put you at risk of losing access to cash for a prolonged period of time.
Another issue with brokers is the lack of transparency. Because brokers only make money on commissions, they will prioritize deals with the biggest profit. If a broker has a buyer ready to purchase your gear, but another seller comes along with the same equipment at a better price, the broker will prioritize the other seller because s/he can make a bigger commission. You may be told that no one is interested in what you’re selling, and the broker may put you on hold until another buyer comes along.
eBay — 12.9% fee
Online marketplaces are the 21st century way to sell anything. With the power of the Internet, marketplaces such as eBay can reach very large audiences, provide transparency and direct communication between buyer and seller, and offer protection from fraudulent transactions. For these reasons, marketplaces are the best, most advanced option for selling a used speaker system.
While eBay is obviously known for its tremendous audience, their fees reach as high as 12.9%, their seller customer service leaves a lot to be desired, and they don’t directly target the professional AV community. Tax collection or exemption can also be difficult as eBay primarily focuses on B2C sales where the average transaction value is much smaller than a marketplace like Gearsupply which is primarily B2B.
Gearsupply — 5.9% fee! 🎉
Gearsupply offers all the same advantages as eBay when it comes to buyer and seller protection—and more. However, unlike eBay’s unlimited variety of products, Gearsupply offers a niche and targeted marketplace with SEO and marketing services that let the world know about your gear.
AV sellers prefer Gearsupply for another reason: selling on Gearsupply costs less than half the price of eBay! Gearsupply’s industry-leading services only cost 5.9% of the sale, compared to eBay’s 12.9%, saving you a ton of cash to keep the show going.
If that’s not enough, Gearsupply’s expert team understands every aspect of buying and selling AV equipment, including transportation, logistics, secure payment processing, tax exemption, and other legalities, so we can take care of that for you. Plus, with our Gearpromise guarantee, customer service is our top priority, and we do everything possible to guarantee that our buyers and sellers have an excellent experience on our site.
Because of our expertise and experience in the AV industry, buyer and seller protection, marketing services, and affordable cost, Gearsupply is the easiest, most streamlined, and most cost-effective way to sell your AV gear. Register as a vendor today to get started.