Valuing Used Goods with this One Weird Trick

So, you’ve got all this stuff. Big stuff. Little stuff. Worthless stuff. Valuable stuff? The things you have in your attic, garage or basement may be more valuable than you realize, but telling apart the things worth selling from the things worth junking usually involves a lot more research than you would initially expect. Here at Statricks, we make it simple to tell how much your stuff is worth, even odds and ends that can be hard to research.

Statricks’ Price Analytics

Many valuable consumer goods are included in our database of used goods pricing, which we call our Product Topology. This includes cameras, motorcycles, computers, cell phones, and other things that generally speaking have a brand and model name or number. However, there are other items which aren’t included in our database of standardized products, but which can still be valued thanks to our dynamic pricing platform. Frequently these will be collectibles or antiques, or products that have specific qualities that are rare for a particular product (Oh, you have a first edition copy of Grapes of Wrath? Probably best not to drop that off at the local library).

For normal items in the database, just search for the item by name and select the appropriate result to get a quality price estimate. We call these Precision Price Analytics. For the more specific items, search for the item as best you can, and select our Simple Price Analytics result. Simple Price Analytics matches your search to our database of billions of listings based on keywords (it’s not that simple, but you can at least think of it that way!), and presents an aggregate view of those listings. This broad estimate can then be refined to create a “Personalized Estimate.”

Creating Personalized Estimates

For example, suppose that you really did have a first edition copy of Grapes of Wrath by John Steinbeck. First, you might search for “first edition grapes of wrath” from our home page. Then select the Simple Price Analytics search result.

Grapes Of Wrath Search Result

The Simple Price Analytics for this search is pretty broad, so it gives you a price estimate of $704 based on 136 data points.

Grapes Of Wrath Price

Wow, you’re feeling pretty good now, aren’t you! Well, we want to check out the results to make sure we have the most accurate results possible.

Grapes Of Wrath Listings

These results are looking pretty reasonable, but there are clearly some items that are first editions of later versions and other things in there. By going through the results and clicking the check mark next to only first edition, 1939 copies of Grapes of Wrath, we can get more accurate results. We can limit our view to just those within the specific price ranges included on the left, or page through the results with the buttons along the top to get as many data points as possible.

After selecting the correct items, the estimate hasn’t changed too much in this case, but the new estimate of the items we’ve selected is listed as the Personalized Estimate under the price, $726.

Grapes Of Wrath Personalized Price

Improving Your Personalized Estimates

In some cases the personalized estimate can be substantially higher, or lower, such as if we had known that our copy was in mint condition.

Sometimes, there may be listing results that are clearly inappropriate, while the majority are responsive (for example, if someone had been selling a collection of books including Grapes of Wrath, or if they were selling a first edition Grapes of Wrath electric guitar (wouldn’t that be a good name for an 80s metal cover band?). In these situations, if you click the X on our listings view, the result will be reported to us and removed from the database for this item, helping future searchers and making the world a little bit of a better place.

Hopefully this article has been helpful. If you think there is anything that can be added to make things easier for you, we’d love to hear about it! Click “Talk to Us” and let us know.

By BJ Terry

B.J. is a former investment banker and Berkeley EECS graduate. B.J. enjoys elaborate cooking, effective altruism, and powerlifting. He can be found meditating in between coding sesh's.

View all posts by BJ Terry

Get the Statricks Digest!

Want to know when we add cool new features or crank out an interesting new blog post? Subscribe here - we'll keep you posted, not spammed!

  • melanie

    I have a letter to my great grandfather from Buffalo Bill Cody I would like to sell to a museum.