1) Determining the furniture’s value
Firstly, you’ll want to make sure that the second hand furniture that you’re selling is not actually an antique. If the item has been there since your grandfather’s time, you might want to have it properly assessed and appraised before selling it.
Unlike an antique, the other furnitures that you sell will depreciate in value, upholstery furniture like sofas and chairs hold their original value very poorly, they’re more susceptible to wear and tear as opposed to durable goods like cabinets and desks.
To determine the price of your used furniture, you can try to find out how much a brand new furniture of the similar model is going for at present, and it’ll give you a starting point to work down from. Otherwise, you could always start at the price that you originally bought the furniture for. Depending on the type of furniture, the period of time you’ve had it, its aesthetic condition, its functional condition, all these factors will affect the pricing.
The superficial condition of the furniture is one of the things that you should try to restore if you feel that a simple repair will help increase its value a lot more. Bumps, chips and tears, while not always affecting the functional aspect of the furniture, are really easy to spot and can significantly diminish the value of your item.
2) Decide on how you want to sell your furniture
There are 2 main ways you can sell your furniture, 1) directly to the final buyer, or 2) to a dealer/reseller. The pros of selling to a final buyer is that you’ll usually get more money for the sale, but finding somebody who wants to buy your good might take a little longer. Selling your furniture to a reseller/dealer will make for a much faster transaction, but they’ll usually give you a lower price for your furniture.
The mode of sales is also important to consider, you can choose to sell your used furniture online or offline. We recommend that you start by posting advertisements up on online classified websites, these options are free, and they take very little time to do. Once they’re up, you just wait for a few days to see if your ads are still up on the first page. And depending on how the first version of your ad did, you might want to change various aspects of your advertisement, like post a more attractive picture of the furniture, include more details about the purchase, or adjust the price.
3) Negotiating a price
When you do get a response for your offer, you’d most likely have to engage in some bargaining and haggling with the buyer. When haggling, patience and confidence play a big part in how well you’re able to steer the exchange. It’s important that during this process, the buyer should not sense your eagerness to sell your good, but at the same time, you’d also want to make the buyer feel that they’re getting a really good deal.
It’s a game of push and pull, and the amount of time and effort that you’re willing to put into it will largely depend on the price of the furniture and the urgency of the sale.