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Considering a consignment sale with Elderly for my ODE Model C

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Sep 25, 2020 - 6:03 PM
12 posts since 10/1/2014

I have an ad here on the marketplace banjohangout.org/classified/83357
but was considering whether or not to place it on consignment with Elderly if I don't get results?

Not sure if I can still have it offered here in the Marketplace while it's on consignment with Elderly? Also, I'm somewhat reluctant to take a chance on shipping it and risking damage (or worse).

Looking for advice from anyone who has experience with this process...
Thanks!

Sep 25, 2020 - 6:12:03 PM

13375 posts since 10/30/2008

There are more buyers here on BHO than Elderly gets on their website, and if they sell it you'll "lose" 20 to 30% of the final selling price. There's no harm in sending them photos and asking what they think they could do with it. Tell them up front it's already listed on BHO.

Wonderful as these banjos are, they just don't get much respect nowadays vs. all the used Gibsons and Masterclones. I drove to Massachusetts to look at one a guy had for sale; I almost offered him $900 and I think he might have sold it to me, but after hearing his sad tale of how it was his first-ever good banjo (he was currently on a Gibson Granada) and how he hated to part with it, I didn't have the heart to insult him with my offer, and I told him so and left.

Sep 25, 2020 - 6:37:14 PM

175 posts since 3/16/2008

I sold a Stew-Mac Kit banjo to Elderly. They gave me good directions about how to ship it and it worked out fine. I didn't get as much money as I would have if I would have kept it here on the BanjoHangout, but I appreciated how easy it was.

They'll tell you exactly what they plan to offer you for it based on the pictures you send them, so you really don't have much to lose by talking to them. They actually gave me a little more than what they quoted me, once they received my banjo.

That was my experience. Overall very positive. I'm sure others have more to say.

Sep 25, 2020 - 8:22:38 PM

12 posts since 10/1/2014

Thanks for the feedback...very helpful. I've heard good things about Elderly, but I would definitely prefer to sell it here!
No hurry at all so I will most likely just be patient and wait for the right buyer to come along!

Sep 25, 2020 - 8:52:28 PM

Bill Rogers (Moderator)

USA

23981 posts since 6/25/2005

I recently sold a pre-war archtop conversion through Gryphon (pretty much the same as Elderly for consignments), and they also bought and Then sold a guitar from me that worked out better for me than a consignment would have. As to the banjo—yes I paid a commission, but I netted probably as much or more than I could have gotten on the BHO—and I didn’t have to deal with shipping. The banjo sold to a walk-in customer, something you can’t get on BHO. Given where you live, you might also check with Gryphon to see what they think.

Sep 26, 2020 - 4:46:11 AM

Texasbanjo (Moderator)

USA

24987 posts since 8/3/2003

A couple of years ago I contacted Elderly about a possible consignment/sale of my Martin B1E acoustic-electric bass. They gave me a consignment price less commission and a price to just purchase it. I did send many pictures so they could see exactly what it was, what the condition was, that it had no problems, etc.

After considering their offer and checking on what it would cost to ship it to them, I decided I'd just keep it. Perhaps if I'd been closer, the shipping had been less, I might have gone for it.

They were easy to e-mail back and forth, answered any questions I asked and I would definitely use them if I was closer.

Sep 26, 2020 - 11:43:45 AM

1147 posts since 12/27/2005

I've consigned and sold about 6 banjos over the years with Elderly. I think they charged me 15%.

I had them listed on BHO and Reverb but never got any bites. Elderly sold them at a higher price than I had them listed here. Also I didn't have to worry about shipping an expensive banjo to someone I didn't know.

They seem to be an honest and reputable company.

They told me only one of my banjos sold to a walk in customer. The others were bought off their website.

I think if someone is looking to purchase an expensive instrument they are more likely to trust and pay a higher price to a known dealer rather than some guy on the hangout.

Just my $0.02

Bob

Sep 26, 2020 - 12:26:39 PM

2591 posts since 4/16/2003

OP --
You're in California, right?

Have you thought about contacting Gryphon Stringed Instruments in Palo Alto?
https://www.gryphonstrings.com

Sep 26, 2020 - 1:41:14 PM

12 posts since 10/1/2014

Wow...great info and help, thanks guys!

I have someone showing interest but it would involve shipping so I am going to at least check into packing and shipping costs.

I will give Gryphon a call and see what they say too! Might take a little RV trip up the coast and drop it off it that turns out to be the best option!

On the other hand, if someone here on BH just "has to have it" and is willing to pay shipping costs and insurance, I may decide to go ahead with that.

I'm pretty sure anyone considering an Ode of this vintage would buy this one in a heartbeat if they saw it in person...it's that nice! :)

Sep 26, 2020 - 2:20:13 PM

2625 posts since 10/13/2011

Hi there Mike: another advantage to selling through Gryphon if you have time to make the drive, you may have a better price point advantage. From the Gryphon Strings website, they don't have many mid-point tone ring bluegrass banjos, so you have a better chance of a shopper in that area looking to upgrade from a beginner banjo. Also, more name recognition for Odes/Omes on the West Coast than the eastern states. Just an idea.

Sep 28, 2020 - 10:01:28 PM

12 posts since 10/1/2014

Thanks again for all the advice...but I sold this banjo already here on BH!

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