NickO
1726
Question to the Forum: "What's your Definition of Reasonable?"
Consider the following scenario: You decide to sell a watch to free up funds for other projects. You give the watch to a trusted dealer friend to sell for you. You set your asking price for your watch at $50,000 and you inform your friend that you will also accept reasonable offers.
Question: what's the lowest amount you would accept for your watch that meets your definition of a "reasonable offer"?
I'm curious to see how large the range of responses to this question is.
NickO
Question to the Forum: "What's your Definition of Reasonable?"
Consider the following scenario: You decide to sell a watch to free up funds for other projects. You give the watch to a trusted dealer friend to sell for you. You set your asking price for your watch at $50,000 and you inform your friend that you will al...
It also depends on what is your watch...
and if you’re being reasonable in the asking. How do you price your watch to be $50K, vs all the listings on a selling platform like C24? If it’s a hype one then your $50k will hold, I say -$2.5K for a good round number. Really no good answer without a sp...
At 50K ask, I’d give up maybe 5%.
Assumes of course you priced fairly (realistically) to begin with.
Depends. If the goal is to recover cash, then . . .
. . . the floor can be deep. Everyone who's acquired a new watch other than a Patek or steel Rolex in the last ten years is likely to be on the short end of the secondary market stick. If time isn't of the essence, though, and one is selling to reconfigur...
Depends on your asking price vs market price.
As stated by another member, it relative to your asking vs market. If you are being greedy, and ask for 40% above market, I think a big discount to counter that markup is not unreasonable. Generally 5-15% off is reasonable. I cannot highlight enough how o...
Are you defining the linear line as "Truly Reasonable" and the independent variable as "Time?"
Then what you're saying is that one's opinion of what is "Reasonable" is never actually ever "Truly Reasonable" but the difference between the two diminishes over time but never reaches zero. That's quite astute if I read you correctly, Fab
:-)) Less romantically, I just meant that "what's reasonable" may decrease with time, with a minimum/lower bound. For instance, you would accept at least $48k for the first 6 months...
...then $47k or more for the following 6, and finally at least $46k any time after that (or something like that!)
As the seller, you are free to choose the sales price.
Of course, the buyer is also free to not to buy it. But as an instruction to a consignment shop, “reasonable” means he may not be wasting his time by calling you when a prospective buyer makes an offer below asking price. If you are authorizing the seller...
Thanks to everyone who responded, especially those who gave a definitive percentage answer
Reasonable can be defined as "Fair, Sensible, and Moderate". These are all subjective terms. What I was attempting to elicit from my question was - all other things being equal - how far away from an objective data point - $50,000 in this case - does one ...
Is that because no one wants to be in New Jersey and everyone’s rushing to leave? 😝
Just Kidding, I have nothing but love for the Garden State!
I'm always amazed that there are some people who don't want to be here.
Like there's a prettier place on Earth than Secaucus. Am I right?!
The prettiest place on earth is The Emerald Isle, DruidPadj
But Secaucus runs a close second.
In the car business we often say the buyer sets the price
Because he doesn’t have to buy, whereas eventually the seller has to sell, or go out of business. Going back to the original question, 10% off is reasonable for a private sale (in Calif) but 50% is not. Unless it’s a street market in the Mediterranean reg...
Thanks for the clarification, and interesting question...
Much of this was already said by others. When I read your original question, my first reaction was, "There's not enough information here to answer the question. I need to know if $50K is the typical preowned dealer's ASKING price -- like what I'd find if ...
