It is quite difficult to find the right price to sell the furniture. Furniture is unlikely to be sold at market prices and you certainly don't want to sell furniture too cheaply. What's more, looking up the selling price can determine if used furniture is worth selling. Although in general it is quite difficult to determine the price of furniture due to the large variety of types of furniture, but there are some basic rules that can be followed.
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Method 1 of 2: Selling Used Furniture
Step 1. Wash, clean and polish furniture to maximize selling price
Clean furnishings are much easier to sell, and they are quite competitively priced. Remove any stains, trim the edges, and consider repainting furniture that has faded. The price of paint is quite affordable and will make the furniture look new.
- If there is a small improvement that can be given, do it now. The selling price will decrease if you expect the buyer to fix it themselves.
- Test all electronics to make sure they are still working.
Step 2. Check the prices of similar furniture on the internet
Open a browser and search the internet for the latest furniture. Check the price and match it with your furniture. For example, a large, plaid sofa will cost less than a plain colored sofa, at least until the model is back on trend. Visit Olx or Bukalapak to see prices other people have posted for similar furniture.
- You can find a Furniture Valuation Guide online, which provides a guide to price ranges for all types of furniture.
- Look for items that are similar to your furniture. If you know the manufacturer, model, or material of your furniture, look for furniture of similar quality.
- Start here if you don't know the purchase price for your furniture.
Step 3. Sell your furniture 70-80% of the original price
The easiest way to determine the selling price is to subtract 20% from your purchase price. This is the industry standard and a general guide to quality used furniture. However, it should be noted that this percentage is only the baseline. You can set the price depending on a variety of other factors, which will be discussed below later. Say, you bought a cupboard for $500 a few years ago, and want to sell it:
- If the condition of the cupboard is still good and not too old, set the price at 80%.
- Multiply $5,000,000 by 80% or 0, 8. (IDR 5,000,000 x 0.8 = 4,000,000)
- IDR 4,000,000 is the base selling price for your wardrobe
Step 4. Compare the condition of the cabinet now with when it was first purchased
Pricing of 70% and 80% is determined by the condition factor. If the condition is almost the same when you first bought it, please sell it at 80%. However, if the cabinets have scuffs, dents, wobbles, or other defects, please set the price at 70%. In general, the longer the furniture is owned, the lower the selling price.
- If you have ever bought a beautiful bookshelf for Rp. 10,000,000, and it is still in the best condition, the shelf can be sold for Rp. 8,000,000.
- If the bookshelf is faded, aged, some of the drawers are missing, or there are scratches and scuffs, please sell it at a price of IDR 6,000,000-7,000,000.
Step 5. Reduce by 5% every 1-2 years you own the furniture
For example, a 10 year old table might sell for 50% of the price. Furniture, like cars and houses, loses value with age. Unless the construction is outstanding or the furniture is antique (older than 1970 and in good condition), you will have to deduct the price for each year of ownership of the furniture.
Step 6. Pay close attention to the construction and materials of the furniture
You don't have to be a carpenter to know good woodworking. Quality furniture feels solid, can withstand weight, doesn't wobble, and all joints don't squeak. If not, be prepared to sell the furniture well below its purchase price. Furniture that is still solid and durable can be priced close to its purchase price.
- Cheap furniture, for example from IKEA, often sells for well below its purchase price. Usually the price ranges from IDR 200,000 to IDR 1,000,000. This is because the furniture is not designed to be moved around and resold, and is made from cheap materials.
- If you see particle board (a rigid sheet coating on wood), you are most likely buying cheap furniture.
Step 7. Use the services of a professional appraiser to value your antiques
Antiques are often worth more than their original value. Unless you're an antiques expert, willing to research similar items, past selling prices, and repairs that may need to be made, we recommend hiring a professional. Most antique shops have an appraiser who will give you an honest opinion on the potential selling price of your antique.
If possible, tell the appraiser the year, make and model of the furniture, or at least the origin of the furniture
Step 8. Negotiate the price
Often you can bargain for the selling price of the furniture you want to remove. If so, make sure you know a few things before negotiating. Plan a strategy before bidding starts to get the best selling price:
- Determine the lowest selling price. Set the number now so you don't have to think about it during the transaction.
- Desired release price. This price is based on the value and level of desire to sell the furniture.
- Selling price. This price is similar to the release price, but this price can be slightly increased if someone really wants to own it.
- Transfer costs. Who will move the furniture? Make sure this is determined before the sale is agreed.
Step 9. Ask friends and family if they are willing to buy the furniture at your price
Ask a few people to see if your selling price is reasonable. If several people are willing to buy at a set price, sell at that price. If you've really lost your way, this method is quite effective to use.
- Don't forget, their opinion of whether they like it or not on your furniture is irrelevant. You just need to know whether the price set is reasonable or not.
- If you're still stuck, there are websites, such as Splitwise Furniture Calculator and Blue Book Furniture, that can help calculate a potential selling price for you. However, don't forget that this price is still an estimate.
Method 2 of 2: Buying Used Furniture at the Right Price
Step 1. Go through similar pieces of furniture before bidding
Unless you're an expert in pricing (and for some reason you're reading this article), don't buy an item before comparing the prices of 4-5 similar pieces of furniture. Note the difference in price, and ask the seller for a discount. If you buy a bedroom set, first know the average price. First, check the average price ranges for common pieces of furniture:
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Bed:
IDR 500,000-3,000,000
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Wardrobe:
IDR 200,000-1,000,000
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Table:
IDR 250,000-2,000,000
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Dinnerware set:
IDR 1,500,000-1,000,000
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Table:
IDR 500,000-1,500,000
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Sofa:
IDR 350,000-2,000,000
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armchair:
IDR 250,000-1,500,000.
Step 2. Ask about the age and history of the furniture
Does the furniture need repair? How old is she? Is there a problem that needs to be addressed? Most sellers are reluctant to say bad things about the furniture, but you can gauge the price with the right questions.
If the seller says "this item is expensive because it's antique," make sure you know when the piece of furniture was made. If the seller doesn't know, or it was made after 1970, the item is not an antique. Respond to all prices with some skepticism
Step 3. Check the construction of the furniture
Look for furniture that is sturdy, comfortable, all hinges are strong, and doesn't wobble. Furniture should feel solid once occupied, especially chairs, sofas, and tables. Trust your instincts, if the item doesn't look sturdy and well made, don't buy it. If there are dents and scratches on the furniture, ask for a discount of IDR 250,000-300,000 from the asking price.
Don't buy furniture made of cheap materials. Most likely, the item is damaged quickly and must be replaced in the near future
Step 4. Search for defective furniture to find good deals
You don't have to spend IDR 5,000,000 to find a good table. If the construction and design are good, but the surface is scratched, faded, or otherwise ugly, you can get a great table at an affordable price. With paint and varnish, an ugly table can look like new again. If you are willing to spend an afternoon polishing the furniture you purchased, you can save up to hundreds of thousands of rupiah.
Step 5. Determine your purchase price before contacting the seller
The price of the furniture purchased must be worthy of the quality of the goods. If you really like the piece of furniture, and have been looking around for the best price, please make an offer. It would be better if you can prove the price of similar furniture in other stalls. Keep the following in mind when making an offer.
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Know the maximum price you can afford.
Set this number now so you don't have to think about it when you make a transaction.
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State the price you want clearly.
This has nothing to do with tactics or strategy. Be honest and straightforward when expressing your desired price: “I want to buy this piece of furniture for Rp. 200,000.”
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Don't be stiff.
If you don't want to shift the asking price, it's useless to negotiate. You shouldn't pay more than what is set, but you also need to work with the seller.
Step 6. Calculate shipping and moving costs prior to purchase
You should already know how to get the furniture from the seller, and consider the cost. Make sure who is responsible for the delivery of the goods before agreeing on the sale.
