Buying and selling used musical instruments can be a very lucrative business if you are familiar with the value and quality of a variety of musical instruments. While some research may be necessary to determine what an instrument will be worth in your particular area or market, it is best to have basic knowledge of musical equipment before you undertake buying and selling musical instruments as a business venture.
Buying Used Musical Equipment
Visit pawn shops and thrift stores in your area. These establishments can be good places to buy musical equipment that you intend to resell because they often offer very low prices. Visit them regularly to check for new arrivals of merchandise.
Check local classified ads and online sources like Craigslist to see if anybody is selling musical equipment you could resell. Many people sell pianos through local classified ads for a fraction of what they are worth because they simply don't want them or do not fully understand their value. If you are knowledgeable about pianos or are willing to do some research, buying and reselling pianos in this manner can be very profitable.
Check auction sites like eBay for items you know are popular in your area or items that musicians are always looking for. For example, the SM57 microphone by Shure is a standard microphone that you see in night clubs, rehearsal spaces, home studios and professional studios. Items like this are very easy to resell if you can offer the end buyer a discount.
Selling Used Musical Equipment
Research the instruments you have acquired. Make sure you know each item is worth in order to maximize your earnings. Check past auctions on sites like eBay and visit audio forums to see what musicians and engineers are willing to pay for particular pieces of used equipment.
Join message boards and forums like Tapeop.com to post listings for your musical equipment. These message boards are a great way to sell used musical instruments because they are read mostly by musicians and audio engineers who are often looking to upgrade old equipment or purchase additional instruments.
If you are selling musical instruments that are very expensive or needed by only a small number of people, such as a grand piano, post listings on eBay, Craigslist and in your local newspaper. For items that are expensive or only for certain markets, you will need to maximize the number of people who see your listing in order to find a buyer.
Do not buy items you are unsure you can resell. If you do not know the value of something, do the appropriate research before you purchase it.
Before buying used instruments on sites like eBay, make sure to check the users feedback ratings.