How to estimate fair market value of your used exercise equipment for sale online?
How to Estimate the Fair Market Value of Used Exercise Equipment
Rating Used Exercise Equipment Condition:
|New - Retail
Estimating a Fair Price: Used Exercise Equipment Sale Prices
New exercise machine pricing is based on current market values, brand, application, available technology, and demand for exercise equipment by market. Used exercise equipment is valued based on the general condition of the piece(s), age, and market demand.
Typically, older commercial exercise equipment is worth less because newer machines help sell customers on commercial products and services. On the other hand, home use exercise equipment tends to hold slightly better fair market values because consumers look for "deals" on fitness equipment over equipment age, features, and new product frills. It's simple, when a consumer looks to buy a gym membership, they typically look for the closest, cleanest, newest gym in which to become a member. Nothing sells better than new when the price tag is fifty-bucks or less. When consumers look to purchase a used treadmill--a larger capital expense--he or she will almost always look for the best "deal" over features or age of the equipment. As long as the treadmill works, is clean and efficient, the average buyer will pick the least expensive option.
The used value or "fair market value" of any depreciating asset is substantially lower as time goes on. In terms of fitness equipment, you can expect to get as little as 10 to 30% of your original exercise equipment dollar for your exercise piece(s). In rare instances some equipment pieces will be sold at 40 - 65% of original price because of market demand and prestine condition. This is common because newer or updated models are already on the market with substantial improvements in the product or services included with purchase. Additionally, when a piece of equipment controlled by motors and electrical runs out of warranty and service options are limited the equipment can actually become nearly obsolete. Please refer to the general depreciation values listed below:
- Used Cardio Equipment (Treadmills, Ellipticals, Bikes, Stair Steppers, etc.): 95%
- Used Strength Equipment (Pin-Select, Home Gyms, Circuit, etc.): 90%
When determining the fair market or used value of a piece of exercise equipment it is very important to value the piece at the price one would repurchase the piece. Let's say that you have a treadmill that you originally purchased three years ago at a price of $1500.00, you used it for one year and it has been collecting dust every since that time. Now calculate the storage fees, repair, and maintenance fees. Obviously, if you look into the newest model of the same treadmill you purchased three years ago it may be very close to the same price--with additional features. Simply set an asking price based on what the market will bare. This sounds tricky, but--depreciating assets are simply assets that require one to lose or spend money to maintain it. If it costs you one-hundred dollars a month to store several pieces of furniture, and other items including exercise equipment, then you would simply calculate what the total expense paid over a period of time of storage, add, then subtract this amount from the original purchase price of the item. This is where you figure out if it makes sense to sell the exercise equipment in question. That said--always remember, your items are likely to be more valuable to you than to your buyer. Contact us to get an estimate of what your used exercise equipment may be worth.
Used Value: Exercise Equipment: Treadmills, Bikes, Strength Equipment "For Sale"
If we may assist you in selling your used exercise equipment online please use our contact us form by selecting "Sell Your Exercise Equipment" and enter any details associated with your inquiry. We have customized options in helping you buy and sell used exercise/ sports/ fitness equipment and we can suit our services to match your level of need. For specific fair market values of exercise equipment please contact us.
Do you need help determining the value of your exercise equipment? If so, let's talk.