I want to sell my household furniture. Used for one year. Is there any guideline depreciation rate I can fix?
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Answers:
Rule of thumb : How much would you pay for It ? How used is it ?
If you bought it at a good price, wholesale is half of retail, and so you're probably going to have to settle for 1/3 of retail or less to get any nibbles.
If you didn't buy well, or if your tastes are different than most people who buy used furniture (hint, hint), you might be lucky to recoup 10c on the dollar.
Unless, of course, you can find a bigger sucker. They say on Wall Street that there's always a bigger sucker - but I don't believe them. It's like sitting down at a poker table. If, after five minutes, you can't tell who the pigeon is, you're it.
Anything automatically depreciates by 50% as soon as it becomes used. It may be worth even less, depending on the degree of use over the year you've had it. If your single and live alone it may be worth a little more. If you have kids and pets, it will be worth a lot less. I don't know where you live, but around here ALL the furniture stores ALWAYS have sales where they claim to be setting prices at or below wholesale, so used furniture isn't worth much.
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