Over the course of an instruments life, it may have many owners. Some people may just not play their instrument any longer. Others may be playing so much that they want to upgrade to a better version of their instrument. There are many reasons people need to sell or trade-in their instrument.
Whatever the case may be, we are here to help. There are basically two possible options. One is to trade, the other is to consign it with us to sell. Both options have pro's and con's (discussed below). We can help you decide what the right pathway is and help you get it sorted so that you can get onto enjoying the funds from your sale or enjoying your new instrument from your trade-in deal.
CONSIGNMENTS
Consignments are pretty simple. You bring us your instrument. You and our team decide on a selling price that we are both comfortable with. Choosing a good price ensures that the instrument has a good chance of selling quickly and ensures that both you and the store make enough money to be happy with the deal.
When you bring us an instrument, we do a number of things to get it sold. First, as mentioned we determine a good price with your input. Then, we make sure that the instrument is in perfect working order. If any repairs are needed, we will discuss and agree on this before we proceed. Then, if needed, we will perform the repairs. Then, we will photograph your instrument so that it can be listed in our systems which include our online store. Furthermore, we will list your instrument on our reverb.com store which exposes it to customers across Canada and the United States. This drastically improves the chances of us selling it quickly. Then, once sold we collect the funds and they pay them out to you 10 business days after the sale occurs. Again, we do all of the work once you bring the instrument to us.
What does this consignment service cost? Good question, it is also a pretty simply answer. Depending on how much the instrument sells for determines what percentage you get. See the three different price levels below.
Instruments that sell for $1000 or more - Store consignment fee is 25%, Customer gets 75%
Instruments that sell for $500-$999 - Store consignment fee is 30%, Customer gets 70%
Instruments that sell for under $500 - Store consignment fee is 40%, Customer gets 60% at this price level, the minimum consignment fee is $50.
Any item that is consigned with us must stay in the store for at least 30 days. If you decide to pick up your instrument sooner than 30 days, we will charge you $50 admin fee to cover all of the prep work that we do to prepare your instrument for sale.
Once your instrument is sold, we issue you an e-transfer 10 working days after the sale.