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News, reviews & great ideas from your GearSource Team!

Summer Blues…

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People keep asking us how to move their gear during the slower summer months, and to be honest, there’s not a magic answer to this question. Obviously Price is always a factor in motivating people to buy your gear over another piece of gear when times are slow, however, believe it or not, price is not the ONLY factor. Here are a couple of other important issues…

Plan for Fall!
Remember, a lot of our clients are in the business of Shows. Fall tours, corporate meetings, tradeshows, television events – it all heats up in the fall. Therefore, companies will start making purchases now for gear they need in September. Be smart! Include free freight or a special price if purchased in August, throw in warranty for 6 months. Do something that makes your gear stand out!

Buy The Right Gear
Don’t fall for manufacturer hype. Pay very close attention to what the market is doing – and ride the market. For example, sell your Varilites while VL is still the hottest gear on earth! Don’t wait until you’ve beat it to death, and the market has softened. Sell at the top – and if the future looks good, buy the same gear! You’ll make your money back quickly on rentals, then sell them again in no more than 2 years!

Make your listings look good!
I know I already said you need your listing to stand out – but this is more the Physical aspect. Taking good photos, providing additional information such as hours, age, etc – it’s all stuff that makes our buyers choose yours over something cheaper but with less detail available.

Update your pricing more often
If a piece of gear isn’t selling, continue updating the price every week or so. This will get your gear in our Daily updates, and eventually will hit someone who’s interested. You don’t have to drop the price by 10% each time either. Sometimes just 1 or 2% does it.

Pay Attention to Pricing
People come to us all the time and say “You’d got these listed at $1000 and mine are cleaner so I should be able to get 1200. Well, while that might be true – it’s also possible that the $1000 listing has been there for two years. We are currently working on Seller Tools that will allow you to make better pricing decisions. Until then, either ask one of our people – or look around and try to form a consensus.

Watch the Need Zone
So few of our users pay close attention to this area of the site. Basically – as a vendor, you should ALWAYS watch the Need Zone. This is where our users are posting listings of things they’re looking to buy, typically IMMEDIATELY. Watch the Need Zone – and try to match items from your stock with items people seek.

Strength in Numbers!
Basically, this just means that the more gear you list, the more you’ll sell. Sounds obvious, but people don’t get it. Putting up 1 listing might get you a sale in a day – but might take a year. Putting up 100 listings will almost always get you a sale weekly!

That’s about all I can suggest for now. In addition, always stay in contact with our helpful staff. They’ll be happy to continually steer you in the right direction on the topic of what’s selling, and at what pricing.

Marcel

Author: Marcel Fairbairn

Our expert sales team, collectively, have over 50 years experience in the sound, lighting, production and music industry.

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