Naturally people try to get more money that the item is really worth, and of course we know that what it's worth is only what someone is willing to pay for it. No more, no less, and that can be very subjective and controlled by current markets based on demand, popularity. They want to walk out with the most cash just as you want to get the item for the least amount of cash. You have done a great job of explaining the nature and cost of doing your business so you have costs you have to cover that the customer not only doesn't know about but most often doesn't care about.
People will always try to get more than they truly deserve or payed for. I worked in restaurants. You get to wait on hangry folks that want you to give them as much food as possible for their buck. Tryna add extra meat on something then get all indignant bc we charged extra for it? Hey peeps, we gotta pay for it so, so do you. What a concept for biz eh Customer? I got out of the customer serve-us industry years ago, thankfully. People have a sense of entitlement that’s nauseating to watch in motion, especially in America. The customer most assuredly is NOT right. BUT, they’re always the customer and should be treated as such. So, so happy to be done with the general public. Picked the best possible time to duck outta those type jobs. I prefer working with dogs. Those were fun jobs. People? Nooooooo….
You're wrong. He absolutely does not want to get the item for "the least amount of cash." He wants to get the item for 50% of what he'll get back on it. He doesn't try to scam and trick people and pay the least he can, like some of the disreputable pawn shops. He is very fair in what he pays, and will even offer more money if the person wants too little.
Many years ago I knew 2 guys(brothers) that owned antique stores in neighboring towns. They sold on ebay. What they would do is one brother would list an item at a very high buy it now price and then the other brother in the other town would list the same item at auction starting at a cheaper price. Their theory was that people would see the higher price buy it now and it would get people to bid higher on the auction listing driving up the price. Both brothers are gone now, rip. They were nice guys out and about but business wise they could be very shrewd.
I love the old toys wish i would have seen this sooner😢. Great videos! Im enjoying watching these every day. My favorite so far are these people trying scams and there faces after u catching just about everything
5:50 filter capacitor hum, easy repair. More involved would be cleaning the mechanism, resurfacing the idler tire, oiling the motor, etc... I'm sure a piece like that would just end up in a display case anyway.
Agreed the kind of people who can drop that kind of money on a record player are going to have a something like a Technics or Linn to actually play music from. The super expensive portable record player is going to be a display piece.
I have missed seeing your videos yu are true person and yu know when something real and fake love your animals too god bless yu and cant wait to see more of yu.❤️
I used to run estate sales, and we would always price items a little higher than we thought fair value was--because customers almost always tried to negotiate you down. So we price a bit higher and then have flexability to lower a bit and still get what we want. This also allows us to drop the price on an item to make the customer happy even if they don't ask for a lower price. A happy customer will be a repeat customer.
Shoot if that guy with the wire recorder was my father or grandfather. I wouldn't have sold the wire recorder for $10,000. Instead I would've went online and bought a new spool and had him record something new. That way I'd have something truly unique and special to remember him.
The humming is a very simple fix. The filter capacitors need replacement. It’s really not that hard, and for what it is, I would not ding the asking price that much because of it. All vintage electronics need to have them replaced.
Heritage Auctions sold a better looking Beatles record player in working condition last November for $3K. Their auction archives are a great resource, and it doesn't cost anything to access.
I have continued with o watch Peter videos, bc unlike 95% of creators on youtube...he gives back to the viewers who do nd their time watching his content. Most ppl just expect to gain from ppl, and make decent money, but refuse to give back..and I've always thought that doing so would attract more viewers while making them feel appreciated.
👍Like the wire recorder. Back in 1960’s, my Dad had a ww2 army surplus wire recorder. Wish I had it now, but it must have been left behind in a move, or sold in moving sale. We dd not have money, and made no sense to keep it around.
I have a Webster Chicago wire recorder Model 228-1 with the original case and microphone that plays and records. I have 8 good "Silvertone" spools of wire and a couple spools with tangled wire ..that was the big problem ..that thin wire would get tangled too easy. I see various models online 80,180,228 and 288 ...probably many more models out there.
I collect star wars stuff. I seen an AtAt go for $150 at a flea market that had a pristine box. It's still worth something though. The Rancor, my brother still has his without a box. Prices are all over the place but with the box, I'd say you could get 50-80 easy
The customer with the record player should have paid to have it repaired before bringing it in. Sound like the filtering capacitors are bad which would be quite normal.
I saw the wire recorder as a prop in the 1951 movie The Thing From Another World. Really cool equipment. It's in the scene near the beginning when Kenneth Toby is in the secretaries office. PS, you could wire a small speaker to the microphone receptacle. it should work afterall intercomes work that way.
Lol ! I remember being the little brother fifth wheel at older brothers friends house . Older brothers friend had that Star Wars walker toy , they filled it full of black cats strip , long one , poured gasoline on it and lit it off with a fireplace long match ! Geeze , it always felt and seemed sooo wrong.
The volume potentiometer needs replaced or there is diode that needs replaced. Can't say for sure though. Could be a capacitor or the transformer and those can be found if you know how to trouble shoot and know what you need.
I wish the shipping for a wire recorder/player wasn't so expensive because I've always wanted one. Such an interesting piece of technology that never really took off. I kind of nerd out over those vintage media formats, but I can never find anything like that locally, and ordering online you pay over $50 to have it shipped just hoping it arrives still working.
I hope ppl don't think you low ball people. I'm an eBay seller, I sell on ebay full time to support my family. And after fees, shipping and taxes I wouldn't be willing to offer as much as he does. These are things most people don't think about but if you sell something for 100 and you paid 50 for it when it's all said and done you might make 10 profit.
I think people tend to underestimate the cost of doing business and the percentage of mark-up needed to be a profitable company. When i worked in a service industry, i found myself explaining to customers regularly that i cant buy at wholesale the product they want at the price they find on the internet - i would have to lose money to sell them product x for $x.xx.
I learned both those concepts in restaurant work and retail. I’d have to routinely tell folks that they must pay an additional charge for extra meat. WTH?! We gotta pay for it Man. If you want extra veg, no prob. However, a high ticket food item like meat and cheese must be payed for. I’ve never been happier to get out of the customer serve-us industry. I did learn HOW to deal with people in a non combative way. I had to learn lots of sanity saving maneuvering mentally to do it. But, ultimately, end of day, the little aggravating daily crap ain’t important. Let it go. And greet tomorrow as if you’ve never met.
Wow ur way undervaluing that at-at and rancor ikk buy em right now for those prices with the box that rancor here in tacoma at a cpl places that have one want 80 for one with no box
My cats love to sleep on my audio gear as well, very warm. One of them though drools in his sleep so I cannot allow him up there. They are both shop cats, we have a Marantz receiver going to Klipsch speakers
I don't blame you for not making a deal on that $5000 player. Even if you bought it for $1500, that money would probably be tied up for a while...definitely a long haul item.
Can I ask what type of camera you use? It seems like everything I try to use overheats. I would really appreciate some advise. Thank you Pete, been watching since you started! Love the videos
I picked up a Webster Chicago wire recorder once to resell. They're really cool and I have no idea how it works. One problem though...old technology. They weigh a LOT. Tough to ship. Thought about keeping it myself but you know the saying...don't get high on your own supply. 😄
I took a course in psychology when I studied at the university, and it has been very helpful in life. This is a common sales technique and it has a name, it's called: "door-in-the-face technique". The idea is to give a price you know the buyer won't accept and after bragging about the product for a while you give a new and much lower price. The new price is still high, but compared to the initial price, the new price appears to be a bargain. Another technique is the "foot-in-the-door technique" where you give a much lower price than the product actually cost, but you get "inside" and get the conversation going. When the customer wants to buy the product, you tell them the customer that they need to buy accessory x, y and z to use the product and you land on the price you originally wanted. At this point, the customer is already emotionally invested and there is a significantly greater chance that the customer will accept the new price. When you know about these sale techniques it's much easier to identify them and avoid doing a purchase you will regret. However, these sales techniques is less likely to work towards a professional buyer. PS: There's Wikipedia articles about these sales techniques that explain it better than I do.
I met the old man and everyone from Pawn Stars( Silver And Gold) when I was about 16 my Dad can't see out of one of his eyes but it's his real Ol' Man try to sell my dad a glass eye that had a dollar sign in it and we all had to laugh they were fun to be around when they were normal. Second time we try to go in there they asked if we had a ticket to get into the store and we've laughed and walked away. We literally used to hang out there everyday. You're certainly right it's Hollywood have BS
Beatles record player could possibly a ground if it's coming from the speaker. Nice to see the kid attempting to take care of the record player also. Most younger folks dont think and toss it around devaluing it more
The turntable is a crapshoot without disassembling it to begin with. Does it have all the original parts? Long ago they would quit, and the local TV and radio store would fix them with a hodgepodge of different parts. I’d have to get inside it before I even considered buying it.
there are lots of reasons to ask more than its worth. sometimes they dont know the value and it creates a fomo type thing where if they sell for too low they missed out. somtimes its a negotiation tactic where they ask too high so the buyer will give a higher offer than if they under priced it. In this situation beatles record seller wanted all the money and tried to sucker ch to buy it. The seller didnt want to do all the leg work in selling it, taking all the risk on ebay, paying fees and waiting a few years for it to sell.
I guess technically it is psychological but I would say yes it is just common sense that people will ask for more in hopes that you will knock them down to a price that they want/really think the item is worth.
Asking for a lot more than you're willing to take is a double edged sword. Yes, you might be able to negotiate at the price or higher than what you're looking for, but... there are people who wont even give you an offer if the price is way out of range. For example, if I'm looking to get into an item for 40 and they're asking 100, that gap is already too high and I wont even make an offer. I've had situations where this has happened and they ask me to make an offer. I tell them no, I dont want to offend you with my offer. They insist I make an offer. I make a reasonable offer, and they get offended. It's really a lose-lose. Now whenever I encounter those situations, I stand firm on not even negotiating.
lol you're one of those guys. assuming the $100 product you mentioned is priced fairly at current market rate, asking to buy for less than half is beyond greedy knowing they probably paid $40 for it. pete pays 50% for what it sells for on current market. no wonder people get offended, because your prices are so unreasonable and you're simply trying to lowball in hopes they are clueless or desperate enough to sell it you. i bet if you had just found a rare $1000 CiB nintendo game (at grandmas sunday garage sale) at the bottom of a box with $5 sticker on it (because grandma doesn't know the real value), rather than pay her the $5 knowing you can still flip it same day easily for $995 profit, instead you think she's being greedy asking $5 because you only want to pay $.50 - i mean the game is 30 years old, she should be grateful to get $.50 for an obsolete game that she prob got for free because it was left at her house years ago by a grandchild who no longer wants it back. so you relentlessly badger grandma and beat her over the head demanding her to take your $.50 which you think is too high even though you'll sell it for $1000. finally grandma relents and gives in and agrees to your offer of $.50 instead of $5 which she needed to put toward her electric bill. still unsatisfied, you tell her you only have 4 dimes and get it for $.40. wait a minute...you must be phoenix resale logged into an alt account, you're busted!
@@jamnbryan1 This is a ridiculous interpretation of what I wrote lol. You're completely wrong about that 2nd part. I often pay extra for things that are under priced, and I dont haggle if the price is already good. Thats scummy behavior . As to the 1st point, in my example, they are asking for 100 on an item which the market values at a lower price like 70. If the market values it at 70, and theyre asking for 100, thats too far of a gap to negotiate. Thats my point. If the market value is 100 and its not an obscure item that'll take a long time to sell, I'll gladly pay 50% or even more if the sellthrough is good enough.
Hows it going i been watching yr videos for a while now an this 1 has me curious about how much my daughters dads star wars collection is worth.. ill see if i can get it all on video so ill be in touch will i do
Cockpit recorders for aircraft use wire recorders because the wire is much more durable than magnetic tape incase of a crash. It also can wirhstand high temperatures incase of fire.
I went to a toy store that sells buy trade but insane I asked the worker how much he buys for funko pops he said three dollars a piece regardless of condition but I noticed when I looked at the stores funko Pop and they were selling them for high really high prices Really taking advantage of people
The $5k for that record player is way over even excellent condition. his condition is poor with a hum...$1k maybe. Maybe he should get it professionally repaired then sell it without obvious issues.
I haven't read all 133 comments nor watched the video completely but the title is referencing the well explored concept of "perceived value". It's very real.
Hi Pete, how often do people come in with gold and silver? Especially now that gold is at record high? I sell gold online so I wish the prices would stay lower for now 🙂
On your drawings for the giveaways, why do you give a uline tape dispenser? Can't you offer something cheap as the unline from off one of your shelves & actually make it an exciting win. Or do you not have anything that cheap on your shelves. Aside from that, i recently started watching & love the videos. I just can't get over someone being happy about winning an uline tape dispenser. Appreciate the work you do putting videos up, probably dont have too much free time. Happy Thanksgiving!
While I agree that most of these sellers are uneducated as to what they are trying to peddle, and usually think because it’s old, it must be worth the moon, they are also anticipating what they buyer will employ. “I have to make money, what are you trying to get out of this, it doesn’t have X,Y, Z.” Every trick that is used to get the selling price down. I’ve been watching these videos long enough. But yes, the seller usually thinks they have the holy grail.
