Developing a fair price for a used stove - Jotul F3

[mainerr]

I am looking at a stove and trying to determine a fair price. I did some research to try and find IRS basis for depreciation (found nothing of the sort), and called a few local shops to get opinions. Overall it seems a bit of a crap shoot - it all depends on how beat up the stove is.

The stove in question is a matte black Jotul F3, it's 9 years old and lightly used. It comes with a short leg kit. I went out and inspected it. Sure enough, it's in great shape.

The owner is asking $1,000. This price seems a bit high to me, so I tried to rationalize why. I have searched Craigslist for most of the northeastern states and I have found pricing varying from $350 to $1,100. So it seems to be on the upper end of that spectrum - but it's local, it's in great condition, and it was operated by someone who knows stoves and how to take care of them.

Local shops want $1,700 for the stove new, and the leg kit will be a bit on top of that.

Any input on how I can develop a fair price for both parties?

Thanks,
Mainerr

 

[bholler]

I dont think $1000 is out of line at all but I would offer $800 and expect to pay $900. That is if it is as good as you say with no issues at all.

 

[firefighterjake]

I don't think that price is out of line . . . but I think for the price of a new one I would offer $750 cash and see if he bites.

 

[begreen]

That stove sold for about $1200 locally 10 yrs. ago. East coast price should have been less. I bought the enameled version for $1349 in 2005.

 

[mainerr]

That stove sold for about $1200 locally 10 yrs. ago. East coast price should have been less. I bought the enameled version for $1349 in 2005.

Hi begreen,

Yes, I too noticed that the price of my F500 seems to be considerably higher these days than when I bought it (new) in 2010.

Two local shops quoted me $1800 and $1700, plus about $100 for the short leg kit for the F3. Why do you think stove prices have gone up?

Thanks

 

[mainerr]

For the record, we wound up at $850 which I think was a square deal. They were a nice local family and I wouldn't have been happy with lowballing them so I am glad the way it worked out.

Picked it up today and it's sitting in the fireplace ready for install. (thread about the install process: https://www.hearth.com/talk/threads/confusion-fireplace-liner-requirements.160839/#post-2160431)

 

[bholler]

For the record, we wound up at $850 which I think was a square deal. They were a nice local family and I wouldn't have been happy with lowballing them so I am glad the way it worked out.

Picked it up today and it's sitting in the fireplace ready for install.

sounds like a fair price for all

 

[firefighterjake]

Seems like a fair price . . . more importantly . . . I'm most happy (when I'm buying or selling) when everyone leaves feeling as though they got a decent deal or made a decent sale vs. having one feel as if they've been cheated by buying too much or selling too low.

 

[begreen]

Glad it worked out for you. The stove looks great there. European stove prices went up due to a declining dollar and inflation. Odd that they don't decline again when the dollar gets stronger.