Calculating your machine's trade-in value
Date Posted:11 May 2017
For as long as we can remember trading in an old sewing and/or embroidery machine has been rather hit-and-miss. Some retailers will reluctantly consider trade-ins but others have no interest at all. It’s understandable as older machines can be hard to resell for retailers, and even harder to sell privately for the price you want.
At Echidna we think trade-ins are an important part of the sale and will happily consider trading all makes and models. We offer a fair market value based on our estimated resale price.
Determining trade-in value
When trading in your old machine be realistic and remember that its value is ultimately based on what someone else will pay for it. At Echidna, we consider the following factors when we assess your machine's trade-in value.
Can we resell it?
Appearances count and obviously machines that are in good condition both mechanically and aesthetically will generally command a better price. Having all the original accessories including user guides and original packaging will also help greatly but is not a deal-breaker.
Will the next buyer enjoy it?
Some brands hold better resale value than others and some models are simply easier to use or perform better than others, making them more attractive to prospective buyers and increasing their trade-in value.
Is it serviceable for at least 5 more years? ie. Are parts & upgrades still available?
As technology advances at such a fast pace, computerised machines are prone to what I like to call ‘technology blues’. Like most other hi-tech appliances in the home they become somewhat redundant sooner than we would like, especially as exciting new features reach the market. We also consider how many more years a model will be supported by the manufacturer as we certainly don’t want anyone purchasing a second-hand machine that can’t be repaired or serviced for at least another five years.
Do you have original purchase and service history receipts?
This is helpful, as sometimes under Australian Consumer Law second-hand machines still have the remainder of their manufacturer’s warranty. Service receipts also help to show that a machine has been well cared for. Again, it’s not a deal breaker but it does help with resale value.
What about machines that don’t have any value?
We see a lot of machines that really have no resale value but are too good to simply throw away. The good news is that we can check them for electrical safety and functionality then donate them to a worthwhile charity. You can have peace of mind of knowing that your beloved old machine is still providing enjoyment in its twilight years.
Why we do trade-ins
Trade-ins are an important part of the sale and we know many people who would not be enjoying all the amazing features of their Dream Machine had we not been able to offer a reasonable trade-in allowance.
We genuinely believe that the second-hand machine market is an important part of our industry and anyone who has spent thousands of dollars on a new machine should reasonably expect some trade-in value when upgrading to their next model.
Many people simply keep their old machine in the cupboard for it to never-again see the light of day—which does seem to be a waste.
Trading in your machine
If you're ready to trade in your machine call us on 1800 000 360 for a no-obligation trade-in valuation or apply online. We'll also consider purchasing your late model machine even if you're not trading it in on a new one.