I have a Deering Goodtime 2 Classic I'd like to put up for sale, and am wondering what to ask for it. It is literally like new, and comes with a like-new Musician's Gear Deluxe hardshell banjo case. This is the non-tonering version with resonator. I bought this a few years back but just don't play it.
Edited by - Dave_11 on 06/09/2023 17:11:16
500
Typically, used Goodtime banjos sell for about 75% of the price of the same model new. The problem here is there is no directly comparable new model for the Classic Two.
The Classic series is no longer in production. It's been replaced by the upgraded Artisan series. The Artisan banjos feature a separate fingerboard of Deering's "Midnight Maple" that's dyed dark gray all the way through. It also has upgraded inlay that looks a little like what you see on a Deering Calico. The fingerboard may be the only difference between the Classic and Artisan. But I think it's enough of a change to lower the resale value of a Classic.
Instead of 75% of that, I'd guess a used Classic Two would sell for 50 - 65% the cost of a new Artisan Two, or: $590 to $770.
If you want to push for 75% of the price of a new Artisan Two, that would be $885.
A problem asking that, in my view, is that once you hit $800, you're really close to the going rate for a used RK-35, and a brown Goodtime with a resonator and no tone ring is far less banjo for the same money.
These are just calculations based on my observation of ads. I don't know for sure what they end up selling for. Brian could be right that $500 may be all you get. Unfortunately, I think the case adds nothing. Everyone expects a used banjo to come with a case or bag.
Good luck.
Edited by - Old Hickory on 06/09/2023 17:53:21
I paid $350 for one in 2012, without a case. I sold it a few years later for $450.
A new Goodtime 2 sells for about $800. You've got upgraded tuners and dark stain. So pretend that's $900 new. 2/3 of that is $600. Cases don't seem to add to used sale prices.
$500 seems fair. You could list it for $600 and see if you get bites. Once you get above that you're competing with PacRim Masterclones.
Shipping is a big chunk of the pie when dealing in <$1000 banjos. Something to consider.
Edited by - KCJones on 06/09/2023 18:32:03
Thanks much guys. The prices you gave are pretty much in line with what I was thinking. I've got it listed on my local CL with an asking price of $600, but would probably drop that to $500 if I list it here to accommodate shipping. The shipping is killer on lower priced guitars and banjos.
I've shipped banjos with the neck removed from the pot. If you can find a buyer willing to do that. With a Goodtime it's really simple. Saves you a ton of money on shipping.
Dave_11 It looks like disassembly will become a much more attractive alternative.
