How to Price Used Furniture

Updated on March 19, 2015
E.B. asks from Virginia Beach, VA
15 answers

We may sell our living room set in the coming months. I have no idea how to figure out a price. They are Lane brand, genuine leather, solid brown color. There's a full size sofa (7 feet long), a love seat and a large recliner. They're not scratched or ripped and the leather is in very good condition. We paid almost $3000 for them about 6 years ago.

What would you consider to be a reasonable price for a set like this? Could I ask $1500 or is that ridiculous? How do people determine the prices of large items like this? I'll also probably be selling our dining room table and chairs, so I need to figure this out.

What can I do next?

  • Add yourAnswer own comment
  • Ask your own question Add Question
  • Join the Mamapedia community Mamapedia
  • as inappropriate
  • this with your friends

So What Happened?

Thank you everyone, for the sensible information! I really feel that I can do this much more reasonably. I appreciate everyone's input and advice. This site is so helpful!

Featured Answers

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

E.B.

answers from Beaumont on

Sadly, they don't care what you paid. It's "second hand" and you won't get near the value. I think you'd get $800 for it. We just moved and have been selling a lot of things so I have some recent knowledge of this. You might start at $950 and see where it goes from there. You never know...

6 moms found this helpful

More Answers

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

K.M.

answers from Fayetteville on

This site recommends 20-30% of market price when new. So, by that math, $600-$900. You could always ask a little more and leave room for negotiation.

http://www.wikihow.com/Price-Used-Furniture

8 moms found this helpful

D.B.

answers from Boston on

We sold some furniture on Craigslist and I agree that no one cares what you paid for it. Higher priced stuff doesn't sell. People always want to know why you are selling - if you are moving, that doesn't sound like there's anything wrong with the stuff, but they also know you are "desperate" and need to get rid of it.

Look for similar things on Craigslist to see what others are getting. Good photographs help a lot so take a few in good light and crop them well. Take some close-ups of the leather as well as some "distance" shots of the whole set, and the label that shows it's Lane. Some people put a yard stick or a metal tape measure on the furniture to show the scale and exact measurements (take a close-up of that).

You can also look into used furniture dealers - the advantage is they come and pick it up, the disadvantage is you have to pay for that and usually wait until they sell it. But if they have a lot of volume and they move stuff in 90 days, it might be easier than having a stream of people in your house. (Do be sure you have a friend or 2 with you if you have strangers in the house, and guard what's in other rooms - there's a scam where one person distracts the homeowner while the other person goes to the bathroom and then detours into the bedroom for your jewelry, that sort of thing!. We have done well with people coming in but you should be prepared.)

5 moms found this helpful

O.H.

answers from Phoenix on

Depends on the area. You can look on craigslist and see what they are selling for in your area. Also expect people to offer a lower amount. You have to remember it's used and loses value, just like a new car that drives off the lot. It might be in great condition, but it's still "used". Good luck.

3 moms found this helpful

J.B.

answers from Houston on

If selling on Craigslist or a local Facebook page, $600 would be a starting price. Expect $500.
I agree with other, no one cares what you paid. They're looking for a deal, just as you would be.
Good luck.

2 moms found this helpful

J.P.

answers from Lakeland on

I would start out asking $1000. and be willing to negotiate. I know that may sound low but they are 6 years old and used. I would go a little less for the dining set (table and chairs) unless you have a hutch/china closet/buffet with it.

2 moms found this helpful
Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

C.S.

answers from Las Vegas on

Generally, used items sell for 20%, unless you are a used dealer. So that brings you to $600.00. You may be able to bump that up a little if they are in mint condition and a new style.

Unfortunately, you lose value in everything as soon as you hang the "used" sign on it.

2 moms found this helpful

M.D.

answers from Washington DC on

If you want it gone soon, you are looking around the $500-600 mark. Honestly, someone is doing you a favor by taking it out of your house, though I know that sounds unfair. No way would I pay $1500 for used couches, especially 6 years old at that. That's a long time for furniture to sit in someone else's house and then pay that much for it.

We bought two Broyhill reclining couches from a friend 8 years ago and she used them for 6 months, paid over $2k. We paid her what she asked, which was $500. They lasted us a good while but when we moved, we upgraded. We just gave those away...two homes, well loved, we just wanted them gone.

I know it being real leather helps though - is it top grain? We just purchased top grain leather couches in the fall and they cost us more than $3k...so I know it costs a lot for that leather, but it's worth it!

2 moms found this helpful
Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

O.O.

answers from Los Angeles on

You can ask whatever you want, but I'd say $1500 is ridiculous.
I'd say $100-200 per piece. Max.
It's USED furniture, and not antique.

1 mom found this helpful
Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

J.G.

answers from Chicago on

20-30% of original cost.

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

S.H.

answers from Santa Barbara on

Used furniture (especially upholstery) is worth pennies on the dollar. You can ask what you want and see if you have any takers. The issues are 1) People get grossed out thinking what others have done on the couch/bed 2) finding a truck to pick-up and deliver 3) You can't meet at a safe location. The buyer has to go to the home and the seller has to let strangers into the home/garage.

If you have a way to deliver, then you can ask a lot more.

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

K.F.

answers from New York on

In my area we also have consignment furniture stores. Where they sell your furniture for you and you get the money. If the item doesn't sell in a specific amount of time the price goes down. Bottom line if it doesn't sell at all they give you a set amount much less and keep it moving. I'm not certain what exactly they do with it but they do manage to get rid of it and you get some cash in your pocket without the hassel of trying to price and sell it yourself.

If I were in your shoes, I would try to sell each piece individually and if someone is interested in the set then offer up the set or 2 pieces. The goal is to make them vanish by selling them. You may also consider taking them to a place like Good Will and getting the tax write off for charitiable contributions if you can do itemized deductions on your taxes.

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

M.P.

answers from Portland on

I watched Storage Wars tonight. Once someone has bought a unit they take things out and decide how much it's worth on the market. Tonight I mostly saw wood furniture. No table and chairs. One unit had a table and chairs that didn't mstch. Each chair was worth $10. The table was worth $25. It was just a small simple wood table. The guy said that if the chairs had matched he could get $65 for the set. Since I don't know the style and quality of your set I can't say if this helps you any.

J.S.

answers from St. Louis on

They have a really nice leather set at Costco for 900. Considering that is the price new I doubt you could get that much for your set used.

The best place to start is seeing what new costs. Obviously that Costco set isn't Lane but if you were choosing between new and used you probably wouldn't pay 600 more for used.

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

F.B.

answers from New York on

What is your motivation? Are you looking to pocket some cash? Are you simply tired of this set? Are you moving and want to start fresh?

You might want to call your salvation army, or something similar. they sometimes pick up large pieces of furniture from your home. You can get receipt for the donation. This might prove easier/ quicker/ a better net value than any sales effort. Here's their page listing suggested valuations for your donations.

http://satruck.org/donation-value-guide/furniture

Best,
F. B.

For Updates and Special Promotions
Follow Us

Related Questions