When it comes to selling furniture, figuring out what to charge isn’t always easy. Nobody wants to depart believing that they could have made more money if they had stayed. That is why queries like “what price should I sell my sofa for?” get into your head all of the time.
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If you’re considering selling your old loveseat, figuring out how much it’s worth could help you decide whether or not to do so. It’s time to figure out how much I should ask for my sofa. Here are some general rules to keep in mind when determining the cost of your furniture.
Average Price of New Couches
In order to show you how much a new couch typically costs, I’d want to first explain why it would make sense to buy a used one. I scoured the most popular and budget-friendly retailers for the most reasonably priced couches and sectionals. I’ve compiled a list of the results I came across:
There’s no doubt about it: costs are astronomical. New is good, but not all of these couches are what you’re hoping to find. Designs that don’t match your decor and costs that aren’t quite pocket-friendly can be found here.
And the reason for that is that these were the most affordable options I found.
The cost of a brand-new couch is significantly more than the cost of a used couch. It may make sense for you to acquire a used home if you know that your current residence will not be your permanent residence. I’m willing to bet that there are a number of people in your vicinity who are in the process of relocating and have no idea what to do with their furniture. It’s a win-win situation for everyone if you can find them.
Check Apps and Websites in your Area
Finding a seller of a couch you’re interested in is the first step in getting a decent price. Facebook’s Marketplace, Craigslist, and the apps LetGo and OfferUp are your best bets if you’re looking to sell something. My experience with all of them has been positive, both in terms of buying and selling.
This is how I get bargains on Facebook’s Marketplace, at the moment:
Set a price restriction of $200 (or $225 if you’re feeling particularly splurgy) by entering your zip code in the Location field and searching for “Used couch.” A variety of alternatives are available, and you can choose the one that best suits your living space.
I’d go with the one pictured above as my favorite in this situation. For $50, you get a couch that appears to be of good quality. One cushion may need to be replaced, but if you drape a blanket on top, it appears like it will be fine.
Questions to Ask
To be sure you’re getting the best deal, call the vendor first. What are some questions you should ask yourself?
- What’s the sofa’s height, width, and depth?
- What color is it?
- What’s the purpose of this?
- You don’t have any smoking on your property?
- Do you own any animals?
- Do you know how long you’ve had it?
- Would you be able to help me out with this?
If the seller responds positively to these questions, it suggests that he or she is seriously considering selling. If you’re satisfied with the answers, you can proceed.
Negotiating Couch Prices
Negotiation is the best part about purchasing used. Sellers who can’t deliver the couches are in a pretty delicate position, as not many people can pick up a couch. If you can, attempt to lower the price as much as possible. It’s impolite to make an offer that’s only 10% of what they’re asking for. Ask the vendor whether he would be willing to accept $30 if you could pick it up today.
To get started, all you have to do is get in touch with him and arrange up a pickup location and time. Make sure to ask him if he’s willing to go lower. You can go pick it up once you’ve agreed on a price.
Couch Pick Up
Sellers can supply it on occasion, but this is not the case the majority of the time. It’s your responsibility if that is the case. My experience has shown me that this can be time-consuming and frustrating. After a few attempts, however, you begin to master the technique. Having a truck is a good sign. If you don’t have a truck, consider enlisting the help of a friend or renting a u-Haul for a few hours. You shouldn’t have to pay more than $25 for this service.
If you’re going to utilize a dolly, you’ll need one. One purchase made all the difference in the world to me. I possess the Ironton Carpeted version and am quite pleased with the results. For $9.99, you can buy it on Amazon, but you can also find it at Lowe’s or Home Depot. Using this small guy, I was able to move massive sectional couches by myself.
Here’s what you need to know
Remember that the IRS only accepts “good used condition or better” items for tax deduction purposes, so don’t get too excited about donating all of your old trash.
This rule was put in place to deter people from donating stuff they don’t need in exchange for a sizable tax break. The Salvation Army and Goodwill have requirements for what they will consider as outstanding used conditions, even though the IRS does not.
If a donated item in poor condition is worth more than $500, you may be able to deduct it off your taxes.
How to clean sofa and loveseat for selling
To get the most out of your time and money, thoroughly clean and polish your furniture. To save money, consider staining or painting worn-out furniture once it has been cleaned of any stains and edges.
An old desk can be given a new lease of life with a fresh coat of paint or stain, which costs around $20. Do whatever you can to fix any minor issues as soon as possible.
The sale price will be decreased accordingly if the buyer is expected to make repairs. Check to see if any old gadgets still work.
Take a look at the prices of comparable furniture online. Test new components to make sure they work with your existing ones. At least until plaid becomes fashionable again, a large plaid sofa will sell for significantly less than a plain-colored couch.
Check out Craigslist and eBay to see what other people are asking for similar things.
Furniture valuation guides, which can be found easily online, will also offer you with price ranges for most furniture.
The more similar your goods may be, the better. If you know the manufacturer, model, or materials used, look for furniture with similar attributes. If you have no idea what the item originally sold for, this is a great place to start your research.
It is possible to resell most furniture for 70-80% of its original cost. Therefore, subtracting 20 percent from the purchase price is the simplest method for calculating a fee. As a result, it has become a reliable indicator of the quality of pre-owned furniture.
Keep in mind, though, that this is just the beginning. You can change the price based on a variety of factors, which are outlined in the following section.
Make a comparison between the present state and the original state. When should you subtract 30 percent, and when should you simply subtract 20 percent? The context of the incident is critical.
Only a quarter of what you paid for it will be worth when you sell it if it’s in virtually new condition. A 30 percent or higher discount should be your goal when it comes to damaged or defective items.
In general, the less money you’ll make when you sell something the longer you keep it.
For every 1-2 years you’ve owned the piece of furniture, subtract an additional 5%. For example, a ten-year-old desk may only fetch you half of what you spent for it. As with cars and houses, furniture loses value with time.
You’ll be punished for each year you’ve had it unless the craftsmanship is extraordinary or the furniture is an antique that dates back to before 1970 and is in good shape.
Observe how the building is put together and the materials used. To appreciate fine woodworking, you don’t have to be a carpenter yourself. Quality furniture has a sturdy feel, can sustain weight, and does not wobble.
If they aren’t, you should expect to get a lot less money on your furniture than you purchased. However, if the furniture appears sturdy and well-built, you may be able to recoup some of your investment.
It is common for cheap furniture to sell for less than its original price, often between $20 and $100. As a result of its low quality construction and inability to be moved and resold.
To tell if your furniture is made of particleboard is to look for the pieces that are stacked, rough sheets of wood.
Consult a specialist to determine the value of your antiques. The value of an antique often exceeds the amount paid for it. It’s best to seek the advice of a professional unless you’re an expert in antiques or are willing to do considerable research into similar items, prior sales prices, and restoration chances.
Most antique shops have appraisers who can give you a realistic estimate of how much your items are worth. It’s best if you can show the appraiser where the furniture was made, when it was made, and what model it is if you can.
How to price antique furniture
Once again, if the item is antique, you don’t have to discount it; on the contrary, if it is well cared for, it may improve in value over time.
If you’re not an expert, there’s no straightforward method to value an antique.
It’s best to get it assessed by an expert, or do a lot of web research into related items if you have a valuable piece.
How the industry evaluates used furniture
In order to find out if you’re getting a decent deal, most customers check the market to see what others are charging for similar products like yours.
You can use this information to figure out how much your item is worth on the open market.
The general rule of thumb for the secondhand furniture market is to charge between 70 and 80 percent of the original purchase price.
As everyone knows, furniture is heavily marked up and you rarely have to pay list price when buying new, thus this should reflect the true cost.
In order for this to work, your furniture must be of a high quality and not simply pressed particleboard.
Determine how much discount you should apply to your furniture by looking at it with a critical eye.
Your piece of furniture’s value can also be determined by using Furniture Blue Book.
It’s time to figure out how much I should ask for my sofa. There are a number of things to keep in mind while trying to sell your furniture. Consider carefully the concepts presented above and reevaluate your pricing strategy.