If you have home gym equipment that doesn’t get much use, either because you realized it wasn’t for you or because you think it has already completed its cycle at your home gym, you may be selling it and making a good profit from it.
It will be a precious investment for those looking for second-hand equipment, but for that, you must first learn to apply certain strategies to increase its resale value. Do you want to know how? Keep reading.
Table of Contents
How to Get the Most Money from Selling Used Gym Equipment?
As we said initially, to sell and make a good profit on your gym equipment, you need to apply a specific strategy. Even if you don’t have a ‘salesman’ soul, don’t worry. We are here to help you.
The strategy we mentioned so much about is based on the following steps:
- Understand depreciation
- Know when to sell
- Know where to sell
- Prepare your equipment for sale.
- Ask the right amount.
Following this strategy, you will be able to successfully sell your gymnastics equipment and make a good profit.
You have to ‘study’ a little about where and when to sell them without taking it lightly.
By investing a little time and with a little patience, you can sell that equipment you no longer need.
Depreciation of Used Gym Equipment
There is no basic rule of thumb that indicates the price to be put on second-hand gym equipment when you want to sell.
Many people invest a significant sum of money in equipment such as treadmills and, in the end, they do not use it and end up seeing it as a nuisance since they take up a lot of space, which is why they decide to sell it.
Therefore, you will surely find a second-hand market with its own prices.
Many people sell their gym equipment, but many want to buy it since they see it as a great economic opportunity. Why?
Clearly, a piece of brand-new fitness equipment will cost you much more than a second-hand one, even if the second-hand one is new and the seller can get a reasonable price for it.
For example, you will find a good quality treadmill for $ 1000, and there are even more expensive.
You can also find a squat rack for $ 500, some good dumbbells for $ 800, and a Bowflex machine. You can get them for $ 1000.
Even so, keep in mind that those who seek to sell second-hand fitness equipment can obtain a better value since there are also buyers who seek to obtain a cheap offer without taking much into account their age and characteristics.
As long as the equipment is clean and operating efficiently, the buyer will pay attention to the best offer.
When Is the Best Time to Sell the Used Gym Machine?
Get Ready
You can have many reasons to get rid of that fitness equipment you no longer want in your home gym.
Perhaps, at first, you liked the idea of having that special machine, and then once installed at home, you realized that you did not arouse motivation to use it.
The point is that you already know that this equipment is still there and that you are not going to use it even if it is by your side.
No matter the reason, there will always be someone else out there who is looking for what you have and who, due to financial problems, cannot buy it directly from the store.
You can get reasonable money for it either because you need space or because you would like to invest it in another machine.
What do matters is that you realize as soon as possible that you will not use it so that its material value is also good.
One Tip
It would help if you befriended patience because those who buy second-hand fitness equipment take their time to do their research and search, which is logical.
On your part, as the seller, you must do it wisely to get a good price, but at the same time, the sale is quick and easy.
The best thing you can do is apply the tips mentioned at the beginning of this post, as they are based on personal experiences.
For example, those who have not applied the strategy of the 5 steps mentioned here have sold their equipment at very low prices and after months of attempts without results.
On the other hand, those who have applied it have been able to sell at reasonable prices and more than surprising time, i. e., in less than a week. In this way, every time you need to sell something, you can apply our strategy to sell it in the shortest time possible.
Matter of Time
To get a good price for your fitness equipment, you must consider time as a critical element. Prices for used equipment are based on supply and demand.
For example, for those who sell their equipment in April, likely, they will not get good prices because either the buyers already got it at better prices for the Christmas holidays or because there is no point in getting fit for the summer because it is already late.
That is to say that in the spring, you will find a lot of supply but little demand because people are not very interested in acquiring used equipment.
This means that those who are selling their equipment will lower their prices at all costs to have a buyer, and that would not be profitable for you.
To be profitable for you, you must sell it between the end of November and the end of December because people seek to give Christmas or New Year gifts.
The offers explode everywhere, and at the same time, the demand increases potentially, entering the home’s fitness equipment as a purchase-sale option.
So if you have equipment in your home gym that you want to sell, try to postpone your sale until November comes as you will have many buyers waiting to contact you.
According to the personal experience of many fitness fans who have taken this detail into account, they have been able to sell their machines quickly and at high prices.
How to Buy for Resale Value?
If your idea is to buy a piece of gym equipment at a high price and then resell it with the idea of obtaining the same price with which you have purchased it, it may be a bit absurd idea. This concept is applicable only for some brands, but below, we explain why it is an absurd idea:
You rarely get 100% of what you once invested for a piece of used gym equipment.
For example, you bought a squat rack at $ 1200 thinking that its price is high because the brand is worth it, and you think it will maintain its value until the day you decide to resell it.
The most you will get will not be more than $ 800, so you lost $ 400. It is best to buy a good-quality squat rack for a reasonable price of $ 500 and resell it for $ 200. In other words, over time, you only spent $ 300.
Thinking that the machine’s value is maintained over time once you buy it is a big trap. Don’t waste your money thinking about the brand. Buy smart.
Where to Sell Used Gym Equipment
Wondering where to sell your used gym equipment? Although there are many options to sell your used fitness machine and anything else you want, not all options are the same since that is the difference between getting a fair price and a not very good one.
Here is a list of the best options to sell your used gymnastics machine based on different users’ personal experiences.
#1. Avoid These! – Garage Sales and Craig’s list
As we said, not all the options available to sell your used gym machine will give you good prices, and that is the case of Garage Sales and Craig’s list.
Those looking to buy used things on typical garage sales websites look for very cheap things.
Generally, customers tend to bargain prices, so if you are looking for a reasonable price with the sale of your fitness machine, garage sales are not a good option.
But if you need to sell it fast regardless of the profit, then go ahead.
Finding a good buyer will be a long wait. It should also be mentioned that, with garage sales, there is not much scope. That is why a good buyer will be slow to arrive.
This sale option is good for selling things that are not as valuable unless getting $ 25 for a treadmill is a good price for you.
On the other hand, Craig’s list is not a good option to sell because here, customers also bargain over the price.
The price you choose will always be a lot for them, and also, you have to pay attention to the scammers, while on the other, always will be someone there free who wants to ask you for a commission in exchange for ‘helping’ you to sell your equipment, which can be a loss for you.
Many users who have used Craig’s list have complained about running into unreliable buyers.
They have also mentioned that buyers do not pay on time or the agreed total amount. It is also a website with a smaller buyer base so save yourself this headache.
#2. eBay
eBay is one of the largest online sales platforms globally, as it has over 162 million registered buyers.
This website is an excellent option as it is reliable, secure, and many buyers are willing to pay a reasonable price for your fitness machine.
The platform indeed takes a commission of 12% of your sale plus PayPal, but in return, it offers you logistics, security, national buyers, and much more.
You must understand that the main attraction of selling on a platform like eBay is the increase in online presence since it has almost 130 million visitors per month, and according to one of its executives, the sellers of this platform confirm an average increase of 50% in sales when they join this Marketplace.
On the other hand, nobody visits eBay to search for your item. But they may be looking for (and discovering) your products.
Products that they would not have known otherwise or that they could be buying from your competition.
Every time you find a new client, even if it is through this platform, you have the opportunity to continue generating sales through excellent service.
This is especially interesting if you sell products in a category that encourages frequent purchases, such as fitness machines.
And another reason we chose eBay as one of the best options is that the “all-in-one” model can attract many customers who prefer this type of shopping experience.
Users are already used to the design of this platform and its agile purchasing processes.
So you know, eBay is essentially a mass market. It offers tools and features that make it easy to highlight your product.
#3. Apps – OfferUp and LetGo
These two applications are relatively new, but they work very well if you are looking for more sales options.
Both platforms greatly facilitate the process of selling your things and those who are looking to buy what you offer.
In the case of OfferUp, according to a report, it indicated that consumers spend an average of 25 minutes per day searching for items to buy on this application.
Surprisingly, that’s the same amount of time they spend on apps like Instagram and a bit more than they spend on Twitter.
OfferUp was created to make the process of buying and selling products locally much faster and much easier to use than on other platforms, such as Craig’s list.
The process of buying and selling items in OfferUp is straightforward because, as we said, it focuses on buying and selling between locals and suggests that interested parties come together to buy or sell an item and then make the transaction in cash, which avoids fraud.
However, the platform also offers payments within the application.
Also, it should be mentioned that OfferUp offers the buyer ease to find your fitness machine since navigating through this app is very simple, being able to find your item easily because the headlines are eliminated and, instead, a catalog of articles is presented to buy in image form, which is incredibly clean and looks like you’re scrolling through an Instagram account, rather than an online marketplace.
This makes the in-app purchase process incredibly enjoyable, and it’s easy to see why users spend so much time on it.
You can install the application for Android and iOS devices for free, and you do not need to pay any commission to use it.
As for LetGo, it is also an application aimed at people looking to buy and sell locally. Its use is straightforward since you can take photos of your gym machine, list it to sell and chat with potential buyers instantly.
It takes seconds to post an item for sale.
Buyers can use the search bar to search for the fitness machine they need, or they can see your item in the list of gym equipment categories.
The application also has a “Main cities” and “Main states” section that you can consult. If someone wants to ask you something, LetGo will send you an email notifying you of the message to reply as soon as possible.
The difference between this app and OfferUp is that LetGo does not handle payments. It does not offer payment processing options and expects payments to be handled by the buyer and seller.
This means that the platform does not offer refunds or help with any disputes or payment problems, so for your safety, accept cash payment from your potential buyer.
Dare to use both applications to sell your fitness machine, and both are safe and with millions of users.
#4. Pawn Shop
This is another good option since pawnshops also buy different items from those selling things they no longer want.
Although many people do not know about this option or have bad ideas about pawn shops, these businesses are run by those who know a lot about resale items’ exact value, which is advantageous for you.
So, in short terms, in pawnshops, you can not only obtain a money loan by placing a product as a guarantee.
In some places, they can also receive goods as purchases. The procedures for selling an item are different from what must be done to pawn it.
Although the client receives a sum of money in exchange in both cases, it is not a loan to be repaid in the sale, but the money is granted in exchange for the sold product.
The client leaves it at the pawnshop, which, depending on the state and type of item, gives him an amount of money in exchange, with no possibility of recovering the product with no other option than repurchasing it.
Of course, the amount of money that is obtained when selling a product is, in general, greater than that obtained if the same one is pawned.
This is so because financing interests or commissions for the safeguarding of the item are not included.
The pawnshop determines the value of the gym machine, taking into account what state it is in and how much demand for this type of product, i. e. if customers are looking to buy them.
This is why, when selling any good, it is necessary to go to a place that is dedicated to selling that kind of item to get more money.
You can use PawnGuru.com to be able to offer your used exercise equipment for free so that those pawn shops in your area can see your post and can contact you if they are interested in buying it from you.
It is a website widely used by pawnshops, and generally, they offer good deals, so you will have the possibility to choose the offer that suits you best.
#5. Used exercise equipment retailer
The retailer often refers to small businesses or family businesses. Stores, street stalls are examples of retail.
These are the last link in the distribution chain since they focus on selling the finished product to the final consumer.
Because retailers buy products in small quantities, it is a good option to sell your used gym equipment.
Some retailers buy products from different categories, so if the supply and demand are equal, you can use technology to contact those retailers in your area to hear their offers.
#6. Neighborhood Garage Sale
This option is widely used by those who need to sell their belongings and make a good profit.
And in case you want to sell your fitness machine, it is a good idea because you are not required to obtain business licenses or collect sales taxes.
To get more visits to your garage sale than your own neighbors, you can use the classifieds of the Sunday newspaper, put up posters in different neighborhoods and use your social media for advertising your sale so that customers come to see your machine personally.
One of the advantages of resorting to this option is that you can set your own price, and you should not pay anyone for the space you are occupying to sell your item since you will be doing it in your own garage or front yard of your house.
Also, you do not have to pay for transporting or shipping.
5 Tips for Selling Used Home Gym Equipment
Sometimes selling used things is not usually that easy, so you need to apply the following tips for your sale to be successful:
1. Focus on reaching a wide audience
If no one knows about your sale, how will you sell your equipment? Spreading your sale is critical to your success. In the old days, advertising meant sticking an ad in the newspaper, which would normally cost around $ 20 to $ 25.
Newspapers can still be useful today, but other cheaper or even free methods like classifieds websites, eBay, used equipment retailers, social media, etc.
The goal is to reach many people and thus be able to have favorable responses in the shortest possible time.
2. You must ensure the optimal functionality of the equipment
Check that your machine’s moving parts are fastened correctly and that there are no missing screws as this could cause problems in its functionality.
This is important because it is very likely that a potential buyer will want to test or try the machine by himself to make sure it is working properly.
Have the user manual at hand to verify that all the parts are placed in the correct place, and if you do not have the manual, you can download and print it from the brand’s official site.
3. The gym equipment must be clean
To make a good impression on your potential buyer, you must present your product correctly, i. e., without traces of dust or dirt.
Therefore, before offering your machine, you should take the time to clean every inch to avoid leaving traces of perspiration.
If your gym equipment has compartments such as fans inside a box, it is best to vacuum as dust accumulates inside.
4. Provide quality photos to publish your online ad
When you’re done cleaning, please take photos of your gear from the front, side, and back so buyers can better appreciate it.
Ensure that the photos are not dark and safe since the images are vital for buyers.
Once you’re done, cover your machine with a sheet to prevent it from getting dirty again.
5. Write a positive product description
When writing the description of your gym machine, you must be as honest as possible. I. e., you should not offer or promise something that you do not have since you will create false expectations in potential buyers.
What you can do is add the actual price you paid when you bought it and your resale price, so people see that you are offering good equipment at a reasonable price.
If you want to add more confidence in the public, add the machine’s link with the brand or manufacturer’s real price.
You can also describe your own experience using the machine and clarify that it works perfectly but that you need to sell it, for example, because you need space and not because it does not work.
Although the description must be positive, we also said that it must be honest, so if any part is damaged, broken, or lost, you should also add it.
Preparation Before Selling the Used Gym Equipment
It is not the same to buy dirty equipment as clean one. As we said before, sell a used fitness machine (or any other used thing) is not easy.
If you do not sell smarty and potential buyers searching for used but good gym equipment, check everything, including the dirt.
Many people will not pay what you ask if the machine is dirty, even if it works perfectly. So, once again, take your time to clean and make your fitness machine shine from top to bottom.
Also, add oil to moving parts to avoid unwanted noises. Remember that if you do not prepare your equipment in advance, its value will be reduced.
How to Price Your Used Fitness Equipment?
Now that your machine is in good condition and decided to sell it at the right time and in the right place, it is time to set the price.
The worst thing you can do is try to compare prices from other sellers like you because many of them offer very high prices, and that will mean having your gym machine in your home forever.
As we mentioned initially, you cannot sell your used machine at the same price you bought because these products lose value over time even though they work wonderfully.
And this is what many sellers on eBay don’t understand.
Pretend to sell their exercise machine at the same price they bought it, and you know what happens? They cannot sell it.
Therefore, although it sounds tempting, and even if you think your machine is worth a lot, do not fall into that trap and add a reasonable price.
On the other hand, you can use eBay to help you find prices for your equipment by going to the “sold listings” section.
The first thing you should do is, on the eBay home page, next to the blue icon that says “search,” it should say “advanced,” so click there.
The next thing you should do is, in ”Find items,” write the keyword of the product you are looking for.
If you know the product’s brand, you can also add it for a more detailed search.
The third step consists of in the “Search Including” section, check the option that says “sold listings” and then click on the blue icon that says ‘’search’’ to obtain results.
This search will show you the real prices at which your equipment is selling, and if you want, you can compare them with the prices that people are asking, and you will see that you will be surprised by the big differences.
This option is open for any person trying to sell any product or item, and unfortunately, many people do not know about this option.
After studying the prices that eBay offers you and having chosen it, you have two options: one is to add a fixed price to the public offering your machine saying “buy it now” until a buyer appears, agrees with your terms, and directly buys it.
And the second option is to sell your machine through an auction. i. e., you should choose a minimum initial price, and also, if you wish, to put a little more pressure on potential buyers, choose a specific day and time for the auction to close so that people rush to make their bids.
This option is perfect because sometimes you can get much higher prices than you thought.
Still, if time passes and you can’t sell your equipment, get advice with the price again. Maybe there is something you are missing.
For example, eBay gives you the ability to see how many people have seen your post.
If your offer has not had many visits, it is because it may be a product that no one uses anymore or that it is an old model, or perhaps nobody stopped to see your description because the price did not encourage them to do so.
However, if your publication got many visits, but no one offered any bid, then you should lower the price without hesitation, at least do it by 5%.
It is a percentage that seems little but remembers that we are talking about a used item, and 5% is 5%, and the buyers will notice the difference.
Another thing to keep in mind is that you pay attention to the moment when your auction begins and ends, that is, the day and time of the beginning and end.
Give a margin of at least 7 days to allow potential buyers to make their best offers.
Again, we must emphasize that you can use your social networks to reach many other people and inform them of your auction.
Keep in mind that today, fitness training is booming, and you can see this on Instagram.
Maybe that buyer is there, so you can leave the auction link on your Instagram post so those interested in buying your gym machine can click on it and redirect them directly to your eBay post.
Final Words
We hope this sell user guide has helped you wondering how to sell your used gym equipment.
At the same time, this guide can be applied to any other thing you want to sell, either to earn extra money or to make more space in your house.
So to get most of your items, apply the mentioned tips to succeed.
Read Also:
