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  • "How Much Is My Machine Worth?" Question Answered

    Old 05-29-2015, 12:15 PM
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    Default "How Much Is My Machine Worth?" Question Answered

    An Old Gear Head's analogy - Me -
    I see sewing machines a lot like a car. No dealership will tell you the value of a car just by a description. If you send them a picture it may help slightly, but until they see it in person, test drive it, and see how much wear and tear it has, if anything is missing or broken, there is no way you can put a value on one. Different dealerships will value it differently too. AND some cars are worth more in different parts of the country. A convertible in Alaska is worth less than it would be in Florida. It is easier to sell ice to people in Florida than it is to sell ice to people in Alaska. Ice is plentiful in Alaska and has little value. It is not plentiful in Florida and has a higher value. Simple supply and demand. And you can't expect anyone to pay for sentimental value except the person that holds those sentiments.

    As a gearhead, this is my example that I think most people can relate to-

    I have a 78 Cadillac. It was my grandmother's car. It's in pretty good shape. What is it worth?
    The description may sound like it looks like this,

    [ATTACH=CONFIG]520998[/ATTACH]

    But it really looks like this.

    [ATTACH=CONFIG]520999[/ATTACH]

    When you tell them what it is worth they say, "But it's a Cadillac!". And "It was my grandmother's car. She used it all of the time."

    Now, replace the word Car with the words Sewing Machine, and Cadillac with the word Singer.

    No matter what, a machine is worth what you think is fair. Not what your friend told you, what you read on line, or what you saw in an ad. If you really want to know, do your homework. Look at past sales on places like Ebay. Throw out the highest and lowest amount and take an average. But know this!!! If you do, Ebay is HIGH RETAIL price for any item. I would subtract 20% to 30% from that amount and you may be somewhere in the ballpark.
    ~Grant~
    Attached Thumbnails 78cad-new.jpg   78cad-old.jpg  
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    Old 05-29-2015, 12:27 PM
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    Great analogy!
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    Old 05-29-2015, 12:33 PM
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    Thanks for the thread Grant. I sometimes don't mind trying to answer honest questions about value when it's an established member on the forum but sometimes it gets old when a person is on here for the first time and just wants to know what to unload their Grandma's/Aunt's etc. machine for and we know we'll never see them again.

    Grant I would say your rule of thumb on price is right on.

    Also, with certain rare exceptions, no one is going to get rich off an old sewing machine. It's a sad fact of life that supply is way in excess of demand.
    I have over 20 machines (small time around here ) and I haven't paid more than $30 for any of them.
    Rodney
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    Old 05-29-2015, 02:00 PM
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    Grant you have totally nailed it. I'm sure my Honda Fit is worth much less than the 'going' rate because it has been driven quite a bit and bumped in the parking lot by a cart and little kids ride in it with dirty feet and I haul sewing machines in it all the time.... On the other hand my sister's Honda Fit goes to the grocery store and an occasional road trip. We bought them days apart though. BUT unlike cars an old well used sewing machine will sew rings around the occasionally used machine. I don't know why.
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    Old 05-29-2015, 02:14 PM
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    Sorry, Couldn't resist:

    http://www.reactiongifs.com/one-million-dollars/
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    Old 05-29-2015, 02:21 PM
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    Originally Posted by jlhmnj
    rotflmbo!!!!!!!!!!!!!!!!!!!
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    Old 05-29-2015, 02:25 PM
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    Thanks, what you write makes a lot of sense. This needs to be pinned! I have seldom gotten people to understand an asked for price on ebay is usually way higher than worth of an object.
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    Old 05-29-2015, 03:00 PM
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    I have found in the long run that any object is only worth what someone is willing to pay for it.
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    Old 05-29-2015, 03:16 PM
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    I just have to add that reportedly Alaskans buy more ice cream per capita than any other state.. and convertibles are at a premium precisely Because there is such a short supply of them.....other than that.....spot on.
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    Old 05-29-2015, 04:18 PM
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    Grant, right on!

    What you say makes sense!

    Jeanette
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