# L&McQ Trade-ins Tricks ..?



## YaReMi (Mar 9, 2006)

I like L&McQ, I was quite happy when they took over my SW Ontario city several years ago.
I like their trade-in policy that (as far as I understand it) will not allow an item that's already gone through their USED system be sold for more than before. I took advantage of it, scored expensive items for cheap, etc.
A month ago I decided to trade in my AC15C1 (great shape, new tubes, never traded before) to get an expensive piece of recording gear. I went to the store, met a L&McQ guy in front of the store (curbside pick up, masks ...). After they looked at my trade-in I was told that they would sell it for $650 and I get 70% towards my purchase. I picked up my new purchase and happily went home.
At home, I checked the L&McQ Gear Hunter pages and found that they were selling other AC15C1's for not less than $750 (I wish I've done my homework before!). I've been checking their Gear Hunter page and my specific store never put up my amp for sale.
Now, if they decide to sell the amp to their friends or employees that's fine but, if they offer a lower price to the customer to sell it to their friends, etc. ...?
Please comment based on what you know ..
Thanks!


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## Wardo (Feb 5, 2010)

Lottsa people buying recording stuff these days.


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## BlueRocker (Jan 5, 2020)

Not every used item shows up on Gear Hunter. They don't care about new tubes (anyone ever claim their used amp has old tubes?). I know they'll give you 80% or resale if you're buying a substantially more expensive item - like double the value of what you're trading. Given the convenience and they have to provide a warranty I think they're trade in allowance is reasonable.


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## Budda (May 29, 2007)

BlueRocker said:


> Not every used item shows up on Gear Hunter. They don't care about new tubes (anyone ever claim their used amp has old tubes?). I know they'll give you 80% or resale if you're buying a substantially more expensive item - like double the value of what you're trading. Given the convenience and they have to provide a warranty I think they're trade in allowance is reasonable.


Iirc it's 70% on used 80% on new.

They felt they can sell yours for $650 and you agreed to the terms. Nothing more to it then that IMO.


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## Wardo (Feb 5, 2010)

Will they still give you 70 if you didn’t buy the trade in item from them ?


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## BlueRocker (Jan 5, 2020)

Wardo said:


> Will they still give you 70 if you didn’t buy the trade in item from them ?


yup


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## Griff (Sep 7, 2016)

YaReMi said:


> I like their trade-in policy that (as far as I understand it) will not allow an item that's already gone through their USED system be sold for more than before.


One time I bought a used Boss Blues Driver at L&M. Can't remember the price but when I got home, folded into the manual was an old receipt for that same Boss Blues Driver- for a bunch less money.

I took it back. Didn't care much for the pedal anyway.


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## Pedro-x (Mar 7, 2015)

i think they also base the trade in value on age (based on serial) and what the item sold new for at time of original purchase. If an AC-15 was $700 new in 2010 and its $850 in 2020 they will sell a well used 2020 model for more even if your 2010 is dead mint.


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## StevieMac (Mar 4, 2006)

Griff said:


> One time I bought a used Boss Blues Driver at L&M. Can't remember the price but when I got home, folded into the manual was an old receipt for that same Boss Blues Driver- for a bunch less money.
> 
> I took it back. Didn't care much for the pedal anyway.


I did the very same thing recently after purchasing a used LP from them. Found the original receipt in the pocket and discovered they had charged me $100 more than when it sold new over 60 yrs ago. I marched it right back, demanded a refund, and told them to shove it. Felt really good knowing I hadn't been taken advantage of.


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## Alistair6 (Jul 9, 2007)

The other thing to consider if you’re saving extra tax on trading in. Tax only gets charged on the value difference I think. At least it use to be


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## YaReMi (Mar 9, 2006)

Pedro-x said:


> i think they also base the trade in value on age (based on serial) and what the item sold new for at time of original purchase. If an AC-15 was $700 new in 2010 and its $850 in 2020 they will sell a well used 2020 model for more even if your 2010 is dead mint.


I think you’re right. The fact that my amp never showed on Gear Hunter made me suspicious.


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## JBFairthorne (Oct 11, 2014)

I would definitely keep an eye on the store and look to see if they actually list it at the price they said. If they list it at more I would be demanding my 70% of the difference.


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## michaelsegui (Mar 14, 2015)

There is a good chance it sold before making the website. I used to work part time at a well known guitar shop. This happens quite regularly.

If the store knows someone looking for that model, they will call them before having to take pics and upload to the interwebs.


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## Griff (Sep 7, 2016)

StevieMac said:


> I did the very same thing recently after purchasing a used LP from them. Found the original receipt in the pocket and discovered they had charged me $100 more than when it sold new over 60 yrs ago. I marched it right back, demanded a refund, and told them to shove it. Felt really good knowing I hadn't been taken advantage of.


Ha, almost an identical situation!


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## FatStrat2 (Apr 7, 2021)

BlueRocker said:


> ...I know they'll give you 80% or resale if you're buying a substantially more expensive item - like double the value of what you're trading. Given the convenience and they have to provide a warranty I think they're trade in allowance is reasonable.


This is exactly my experience as well.

They valued my Gibson LP Studio at $950 of which I'd make $665 (70%) or $760 (80%) towards a new guitar worth twice its value. I thought that was fair given it's a retail outlet, but I got over $1K when I sold it privately. Despite that, for some items that don't move well in the private realm, I still think they're a decent option.


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## bzrkrage (Mar 20, 2011)

StevieMac said:


> I did the very same thing recently after purchasing a used LP from them. Found the original receipt in the pocket and discovered they had charged me $100 more than when it sold new over 60 yrs ago. I marched it right back, demanded a refund, and told them to shove it. Felt really good knowing I hadn't been taken advantage of.


Ha! Awesome. 
I mean, the nerve! Only when you replaced the "old crappy" pickups with EMG's and used a butterknife to route out for the new Floyd? Total upgrades!
They, should have paid you!


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## Budda (May 29, 2007)

You will always get more on a private sale. If you want maximum return, sell privately. L&M employees will tell you that.


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## YaReMi (Mar 9, 2006)

michaelsegui said:


> There is a good chance it sold before making the website. I used to work part time at a well known guitar shop. This happens quite regularly.
> 
> If the store knows someone looking for that model, they will call them before having to take pics and upload to the interwebs.


That's exactly my point - a friend is looking for this amp and they price it accordingly. The store was closed for indoor shopping so it could not be a random customer.
My preference is always to sell it rather than trade in but I took an easy path knowing I would be getting less money.


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## bzrkrage (Mar 20, 2011)

Tbh, there's sooooooo many reason it could be.

How much they want to move the item you're trading towards. 
How many of the item you're trading do they have in stock.
How that item has sold in the past.
Scale of 1-10 on overall condition.
You may get a person who doesn't really know 100% about the product you have (can work in your favor sometime)
The last point there is why they have 2 other employees check what to sell it for, to get a more accurate selling price.

As @Budda already stated, selling private is going to get you more cash. But you avoid the Kijidiots.


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## DavidP (Mar 7, 2006)

Don't forget to factor in the sales tax you'll save on the trade-in purchase.


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## barryc (Dec 3, 2010)

If have always found L&M to be exceptionally reasonable


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## Duntov (Apr 2, 2021)

'Back in the day, before the internet, used gear stores were only offering 50% of what they'd be able to sell the gear for. It was harder to "do better selling on CL or 'jiji". If L&M is offering 70%, that sounds like a pretty decent offer (if you want to go that route) but you'd likely do better selling on CL or 'jiji, however.


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## laristotle (Aug 29, 2019)

Early 80's.
I bought a late 70's Traynor YGL 3, 212 combo at the Bloor St location garage sale for $125.
Two years later, I took it in to the same store as a trade in for a used Marshall 5275, 112 combo (still have it).
They gave me a $200 trade-in value.


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## 2manyGuitars (Jul 6, 2009)

70% of $650 is $455 and when you factor in the tax, you got $514 for your AC15. A new one goes for almost $1100 with tax. I would have sold that privately for sure. Especially with stores being closed for in store, people are turning to used stuff more lately.


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## DaddyDog (Apr 21, 2017)

Will L&M take in something in exchange for store credit? They don't have any big ticket items I want right now, and I'd prefer to shop in person post-Covid. Plus I could use credits in the future for rentals, and various smaller items.


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## bzrkrage (Mar 20, 2011)

DaddyDog said:


> Will L&M take in something in exchange for store credit?


I have no idea. Call them. They may say hold onto the piece you have until you’re ready to trade.


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## Budda (May 29, 2007)

DaddyDog said:


> Will L&M take in something in exchange for store credit? They don't have any big ticket items I want right now, and I'd prefer to shop in person post-Covid. Plus I could use credits in the future for rentals, and various smaller items.


Then just take the cash?


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