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Home > Home & Garden > Furniture   »   Depreciation rate of used furniture

 
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Old Oct 19, 2009, 09:59 AM
goddessmcl
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Depreciation rate of used furniture

We want to by a Townsend III bedroom set - the owner is uncertain of the materials, but believes it to be at least part solid wood, with cherry veneer finish - two dressers, one mirror, two nightstands, and queen sleighbed (matress, box spring, frame). He is asking $1100 for the set. This seems high to me - he said he purchased it at HOM - 6 yrs ago.

We also want to purchase his dining set which includes solid wood table with fold-in leaves (table pulls apart in center there are "cogs" of some sort to make it glide smoothly in and out, leaves pull up from center of table) It has six wooden chairs. Owner said he purchased the set at HOM 7 yrs ago, and has repainted the chairs & base of table to match kitchen granite. It is a very heavy, solid table, with decorative base, oak table top. He priced this at $550.

We also agreed to purchase his wicker all-season set on the porch for $500; he said he purchased from Pier 1 about 7 yrs ago; includes loveseat, two chairs, two small wooden tables.

Can anyone help? We have already purchased his home, and because we were involved in a bidding war and really wanted the home, we gave him $2000 above his asking price.

Do you think we they are asking too much for the used furniture?

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Old Oct 19, 2009, 12:38 PM   #2  
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Hi, goddessmcl!

If the pieces are built well and in excellent condition, then to me, the prices don't sound out-of-line. Have you asked him if he could help you out on the price of them or made a counter offer on them, please?

Thanks!
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