Buy or Sell?

snappy

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In your opinion is it wiser to
trade dollars for extra gear or
extra gear for dollars
as of
Friday, July 17 2020?
 
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Nacci

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?
Trade ?
Meaning exchange currency for goods, basically buy or sell.

I don’t think it is wise to sell during a panic, but this may be a lull before another panic so if you have to sell then do it now.

As far as buying, just stop buying stuff, it is a sickness.
 

tkillian

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Ok.
Thanks.

Im dense.

So he meant

In your opinion is it wiser to buy or sell right now?

My answer is

Sell your stuff you never ever use for cheap

Buy stuff you really want/need but only for cheap prices.

I just bought back a cymbal I never should have sold. I've been trying to find the same model for 1.5 years with no luck. So the guy I sold it to sold it back to me.

I am going to do another sell off soon. The last one I did was very successful...because of good videos and cheap prices.

But yeah..that was pre-covid.
 

snappy

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Meaning exchange currency for goods, basically buy or sell.

I don’t think it is wise to sell during a panic, but this may be a lull before another panic so if you have to sell then do it now.

As far as buying, just stop buying stuff, it is a sickness.
The other day you said something about it being wiser to know that one put themselves in a position they felt was right for them at the time as opposed to fretting over whether they came out ahead or behind regarding the bottom line.
It was profound.
 
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snappy

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Ok.
Thanks.

Im dense.

So he meant

In your opinion is it wiser to buy or sell right now?

My answer is

Sell your stuff you never ever use for cheap

Buy stuff you really want/need but only for cheap prices.

I just bought back a cymbal I never should have sold. I've been trying to find the same model for 1.5 years with no luck. So the guy I sold it to sold it back to me.

I am going to do another sell off soon. The last one I did was very successful...because of good videos and cheap prices.

But yeah..that was pre-covid.
What I am really asking is do you think the dollar may take a dive and you'd be better off with "things (excess equipment)"
OR
there may be a dramatic event and your "things (excess equipment)"may hold little use other than a boat anchor and you'd be better off with dollars.
 
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tkillian

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Ahh I see.

Well. If i could predict the financial future
1. Id be really really rich
2. Id be retired
3. Id own a set of old ks and a rb gretsch...wait...oh. i had that but sold them. Oops. Cancel #3
 

Nacci

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What I am really asking is do you think the dollar may take a dive and you'd be better off with "things (excess equipment)"
OR
there may be a dramatic event and your "things (excess equipment
I say that if you are concerned about an event like a dive in the dollar/federal reserve note which is a much different event then a dive in the stock market then holding gear or dollars is not what I would be focusing on.

Instead; think like a Boy Scout and the mandate of the three necessities, Food, water and shelter. Each one of those categories is a topic on its own and has its own subcategories. In addition; stay away from all places where people will be forced together because They failed to prepare.

All Empires have a lifespan, all World Reserve currencies have a lifespan and the transition is never pretty. In fact, it is important for those in charge to mask this transition, perhaps with some manner of diversion or diversions.
 

snappy

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Ahh I see.

Well. If i could predict the financial future
1. Id be really really rich
2. Id be retired
3. Id own a set of old ks and a rb gretsch...wait...oh. i had that but sold them. Oops. Cancel #3
If I had to pick one or the other I'd say it will be better to have dollars.
The site is great for getting opinions/gut feelings.
I wont hold anybody accountable.
...just taking counsel
 

JazzDrumGuy

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Yes.

What gear? It depends. If you can get expensive gear for cheap, do it. You shouldn't lose your money and may make some. If you can sell gear for way more than you paid, and you don't mind not having that gear, then sell it. Do you need the money?
We all know you (and I!) need the gear.......
 

NobleCooleyNut

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I already did my big equipment purge prior to the Pandemic starting . I had no premonition about the Pandemic . I was note concerned that I am getting older and I really don’t need tons of gear anymore ( not that I did initially ). I decided to sell off all but a couple kits and snares that I regularly rehearse and gig with and the rest can go . It was actually cathartic to be honest . I had been buying and selling gear at a dizzying pace . Many different brands and finically just decided to stick with two brands I really love . I will admire other brands and appreciate their merits , just going to stick with the two brands I own now .

Now back to the OPs question , which is really a double edge sword . It is great to stay liquid and have cash , but many people are selling and there is potential for the market to get flooded and the value of equipment might drop . Especially used equipment . I think the rare and high end stuff will retain its value well but the mid level and budget kits will take a beating pricewise . The fact that less and less young people are taking up instruments also hurts sales of used equipment .
 
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el_37

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Maybe I’m looking at the wrong stuff- but I hardly see a flood of anything on the market. Nor do I see anything selling cheap. I’m not just talking about drums either.

Almost anything used I have attempted to purchase since March has either sold before I could make a move or sold for such inflated prices that I couldn’t have afforded it anyway.

As for trying to second guess the market- its a crapshoot. Everyone in the media was convinced the DOW would be at 10,000 right now.......

Sell gear when you no longer need/want it or actually do need money/space.

Buy gear when you need or want it.
 
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lrod1707

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Maybe I’m looking at the wrong stuff- but I hardly see a flood of anything on the market. Nor do I see anything selling cheap. I’m not just talking about drums either.
That's because the economy is not as bad as the media portrays it. Tons of people were unemployed at the beginning but a huge percentage are back in the workforce. Lots of people had liquidity before this mess started. (So most people didn't have to go crazy selling their stuff). We were doing good and on the right track. The media won't point any of these things out though. They just point out how bad it is. My wife is in realty and my brother is in home development. Home building and sales are through the roof (no pun intended!) How does that happen if things are bad and we are in a supposed recession? They don't! Certain sectors have declined but not "most" sectors. Here in Florida we have this huge Covid spike right? Well, it's just been discovered that lots of health systems & clinics here have only been reporting Positive Covid results but not reporting the Negative results. That's made it look worse than what it actually is. Why doesn't this get reported mainstream? The media is full of it and only swings one way! Bottom line, your not gonna see any personal firesales of gear because things aren't as bad as they as portrayed.

And to respond to the OP's question: Cash is always king! If you have it it will let you buy when things are sold off at cheap prices. (Which is not happening now, things are not bad enough for that) And this stated "expiration of currency", sorry but I'll take my chances with that! Nobody can predict that so I'm not gonna live thinking about when cash & empire will expire. I've got to many things on my life's to-do list to worry about something like that!
 
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