Glocks hold value.. WHY?!?!?

[Hohn]

I said it before, and I'll say it again. People buy Glocks for the utility that they offer. That utility does not diminish with use. When you buy based on function instead of form, if the function is retained, the price will reflect it. If you buy form over function and the form is diminished with use or as tastes change, the price will soften to reflect that too.

I think this is exactly right. When you buy on object for its function, and it has the reputation of near zero degradation of function with use, then the value of that object does not decrease over time.


Why do old houses cost the same as new ones?

 

[gglass]

So please explain to me why you think your used glock should cost only $50 less than what I can buy them for new..... Can we all please come down off our high horses on these used guns? Please!

...Because Kool-Aid taste the same whether refrigerated or not.

 

[SPOOK331945]

I think this is exactly right. When you buy on object for its function, and it has the reputation of near zero degradation of function with use, then the value of that object does not decrease over time.


Why do old houses cost the same as new ones?

I've been quietly lurking around on Ingo for the past few weeks watching and observing and I'm quite surprised one of my first threads in still going! haha. I do agree with you that if a product doesn't "degrade" there's really no reason for the price to change.

But houses? I'm sorry but that it not a good comparison for me lmao. Both sides of the family were home builders at one time. One side built 100 year homes with 20 penny nails the other built "spec" junk homes. Kind of a Romeo and Juliet when it came to my parents because their fathers actually hated each other when they were both building still.

Now careful this is only my 2 cents on this subject lol.

New houses don't cost anything because they're built to "spec" just to meet the code. And honestly the more expensive homes are still 24" center rafters with no collar ties and so on and so on. Only difference is the builder has learned that he can make a bigger profit margin on the same junk.

Older homes are priced high because my generation doesn't understand they're buying something that's worn out and is need of a major overhaul, they just see something "retro."

That "retro" house they want because they saw one like it on Pinterest has no insulation and a saddle back roof that's going to cost them a fortune in utilities and even more to update/repair the home than to buy one new.

Thats just my opinion on it. I know when I finally get the opportunity to build all the framing will be done with 20 pennies 16" on center nothing less.


Back to glocks... I came across a really really really good deal recently on a Gen 4 G2. It came with 4 mags, 2 holsters, lone wolf guide rod assembly, aftermarket sights (switched them back to factory) for $400. Now that was a good deal for a 10mm

So for everybody that thinks I'm glock hater here you go. I like glocks just for the right deal

 

[JettaKnight]

So please explain to me why you think your used glock should cost only $50 less than what I can buy them for new..... Can we all please come down off our high horses on these used guns? Please!

The answer is that people believe a used Glock is almost as good as new Glock, and a $50 discount is good enough for them.


In other words, "Market forces".


Why do you hate capitalism?

 

[JettaKnight]

I am trying to teach the boy...The Indiucky method.....Of typing just a sentence....Then five periods....He's learning......

Before I got to know you, that bothered me so very, very much.

 

[doddg]

The answer is that people believe a used Glock is almost as good as new Glock, and a $50 discount is good enough for them.
In other words, "Market forces".
Why do you hate capitalism?

1. When I saw the original comment about why the used Glocks are so much, as an Econ teacher it was all I could do to refrain from commenting: "perception" of the market, which you summed up by saying, "market forces."
2. Buyers drive the price, and sometimes not even b/c of quality but perceived quality b/c of good advertising/marketing, translation: demand.
3. I grew up going to auctions clear through till my 30s: estate auctions, antique car auctions, and you learn as a seller there is no better fun than 3 people wanting your: table, car, whatever, b/c the price will go up.

 

[mcapo]

I feel like a scene from the Sopranos/Godfather. This thread keeps pulling me back in no matter how much I try to stay out. Supply and Demand is a fickle affair.

https://youtu.be/G29DXfcdhBg

 

[mcapo]

Housing is not the best example...

With the exception of exclusivity of location (land value) affecting price, new construction is the highest end of the residential market.

The market does not pay more for an existing home than the cost to build a new one in a similarly influenced location. Exceptions exist but not the market norm - but it is usually land value not contributory value of the improvements within those exceptions.

How about used Trucks? Tell me why a three year old truck can be $30,000? Geez - that is worse than $500 for a used Glock that is $550 new.

 

[88E30M50]

Glocks probably hold value more than other guns because they are butt ugly. That means that people don't buy them for their sexy lines and cool profile. They buy them despite their blockiness because they represent a simple tool that gets the job done with little fanfare. It's kind of like how people buy hammers. Nobody buys a hammer because of how cool it looks, but because it's a tool that lets them drive nails.

 

[SPOOK331945]

How about used Trucks? Tell me why a three year old truck can be $30,000? Geez - that is worse than $500 for a used Glock that is $550 new.

Dont even get me started on used diesel pickup people.... 350k miles and they want $15000... you always get the response “it’s a half million mile motor.”

Well what about the front and rear differentials? Transfercase? Transmission? Every other moving part that has the 350k miles on it!!! it ain’t worth $2000!

Thats a major button pusher for me.. obviously they’ve never done that kind of rebuild/maintenance themselves. It ain’t easy and it ain’t cheap.

 

[doddg]

Dont even get me started on used diesel pickup people.... 350k miles and they want $15000... you always get the response “it’s a half million mile motor.”

Well what about the front and rear differentials? Transfercase? Transmission? Every other moving part that has the 350k miles on it!!! it ain’t worth $2000!

Thats a major button pusher for me.. obviously they’ve never done that kind of rebuild/maintenance themselves. It ain’t easy and it ain’t cheap.

1. Well said!
2. I cringe when people brag about paying $$$ for their house and when I look at it:
a. $8000 = roof (if it doesn't need any sheathing)
b. $9000 = HVAC system
c. I won't even go on, but you get the idea.

3. Same with a car or truck.
4. With all, house, car or truck: pay more upfront for condition b/c you will have to pay it later anyway, and sometimes buying new or nearly new can save you money.
5. In 1973, I bought a 1963 VW bug for $50 and rebuilt the engine and tranny thinking I had a new car:
a year and a half later I had $2250 in the car and the engine blew again and new they cost $2400: my beginning of the car journey.

 

[Route 45]

How about used Trucks? Tell me why a three year old truck can be $30,000? Geez - that is worse than $500 for a used Glock that is $550 new.

Well, that 3 year old $30,000 truck probably sold new for north of $40,000. So the $500 used Glock that was $550 new is definitely worse.

 

[Hohn]

But houses? I'm sorry but that it not a good comparison for me lmao. Both sides of the family were home builders at one time. One side built 100 year homes with 20 penny nails the other built "spec" junk homes. Kind of a Romeo and Juliet when it came to my parents because their fathers actually hated each other when they were both building still.

Now careful this is only my 2 cents on this subject lol.

New houses don't cost anything because they're built to "spec" just to meet the code. And honestly the more expensive homes are still 24" center rafters with no collar ties and so on and so on. Only difference is the builder has learned that he can make a bigger profit margin on the same junk.

Older homes are priced high because my generation doesn't understand they're buying something that's worn out and is need of a major overhaul, they just see something "retro."

You're missing my point about housing.

The sad reality is that if you built a house with all premium materials and 2x6 at 12" OC you get exactly NOTHING on appraisal for it. Why? Because all the appraisers (and realtors) follow the same formula: beds, baths, sq ft, lot size, and comps. You might have built the proverbial brick outhouse, but it will be priced based on the McMansion spec crap around the corner.

It is EXACTLY this reason that builders decontented the housing into crap. Why spend money on premium materials and better builds if you can't sell the house for more? Oh, you put in a 10k HVAC system instead of a 3K one? That's nice, but it gets you NOTHING on appraisal.

Like everything else, when crap is priced like quality, you end up with no quality left on the market.

 

[Hohn]

Well, that 3 year old $30,000 truck probably sold new for north of $40,000. So the $500 used Glock that was $550 new is definitely worse.

PSHAW, most diesel trucks new are well North of 50K with top-line Dually trucks blowing well past $70K.

 

[Route 45]

PSHAW, most diesel trucks new are well North of 50K with top-line Dually trucks blowing well past $70K.

Yup, I was being conservative. Makes my point even stronger regarding the $500 used Glock.

 

[JDTaylor]

Most of the glocks I see for sale are priced around $500 but come with more stuff ( extra mags, holsters, etc). Also, the majority of guns out there, especially glocks, rarely have over couple of hundred rounds through them so they are pretty much brand new.

 

[SPOOK331945]

I don't know if anyone is still following this thread or not, worth a shot I suppose.

Awhile back when I first joined Ingo, I started this thread and boy did it start a wild fire for being the new guy. I'd say most considered me arrogant from this thread, but I'll put my money where my mouth is. Just takes a little while sometimes. Life and work gets in the way sometimes.

Most probably were calling BS when I said I would machine a slide and lower..

I decided to follow up on that, well partially.. I haven't started the lower yet but the slide is coming along nicely. Been some learning here and there with it, but nothing I haven't done before more or less.

Well here it is, I've got a Thread over on the gunsmithing page on the entire process so far. Got a handful of operations left before its complete.

 

[churchmouse]

I don't know if anyone is still following this thread or not, worth a shot I suppose.

Awhile back when I first joined Ingo, I started this thread and boy did it start a wild fire for being the new guy. I'd say most considered me arrogant from this thread, but I'll put my money where my mouth is. Just takes a little while sometimes. Life and work gets in the way sometimes.

Most probably were calling BS when I said I would machine a slide and lower..

I decided to follow up on that, well partially.. I haven't started the lower yet but the slide is coming along nicely. Been some learning here and there with it, but nothing I haven't done before more or less.

Well here it is, I've got a Thread over on the gunsmithing page on the entire process so far. Got a handful of operations left before its complete.

Love the work.

 

[bwframe]

Didn't read the whole thread, but that slide looks great.

Don't forget the new hotness is the MOS stuff. Better build that in too...

 

[SPOOK331945]

Didn't read the whole thread, but that slide looks great.

Don't forget the new hotness is the MOS stuff. Better build that in too...

I have thought about going the MOS route, but I think I'm going to stay basic.

I'm going to gift this slide to my Father for his 60th birthday in June. He's more "traditional." He's more of a wood and steel guy though. I hope he likes it... lol