Although eBay is not the best place to find extreme deals, it can be one of your most valuable resources for information. Once you have identified a guitar that you think you might be able to get a good price and flip for a profit, time to go to eBay and get some more data. Make sure you have selected ‘Worldwide’ from the location option on the left side if you don’t live in the US, otherwise you won’t get enough listings.
After putting in the brand and model of guitar you will now see the current listings, these aren’t very important, other than giving you an idea of just how common this guitar is for resale. Too many listings could be an indication that the market is flooded and as a result it could be harder to sell or trade. Too few listings can either mean that you have a more rare item which is a positive, or an item that not many people want – if this is the case then you will want to find some reviews on the guitar to see what actual owners of the guitar thought. Try to stay away from retail site reviews, and choose reviews from guitar community forums instead, they will be less biased.
The critical information that you are looking for comes from selecting “Completed” from the “Show Only” option on the left side panel (it will be under “Refine” if you are using a mobile device). Now what you see are all the listings that ended in the past 90 days. The items listed with green prices are sold items, giving you a very good reference point to what people somewhere are willing to pay for the item. The items where the price is shown in black are listings that ended without being sold. This will indicate what is too much for the item to be sold at, as well as how popular the item. An item with too many listings unsold will be a harder resell unless you can get it at an extremely good price.
The next step will be gather a little more data on asking prices and the market.
Written by Michael Zelle