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 Post subject: What's a fair offer?
PostPosted: Wed Sep 28, 2016 9:17 am 
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Joined: Thu Apr 19, 2012 1:18 pm
Posts: 10666
Location: Madison Wisconsin
Hi Guys,

I run into this pretty frequently and I don't have a standard policy on this. Looking for suggestions from a customer's perspective.

Here is today's example but the reasons are often "knife rusted and didn't know it was carbon" or "knife chipped can I exchange it?" etc.

"So i received the knife and found a problem once working with it at work. I'm a short guy and work on a tall table. Because the knife has a handle that curves upwards, it makes it uncomfortable to work with. It's constantly in my wrist. I have no problems with the knife itself so i wanted to give it a 5 day trial to see if this issue would fade and i could adjust. At this point i still feel the issue persists. I am considering asking for an exchange. I don't want a refund and expect a restocking fee. Id merely like to explore other knives. Thanks and i look forward to your advice on the matter."


Question. What would be a fair offer for a used knife like this that will end up being re-sold in our closeout section? It's a lot of work to buy stuff back and I'm not thrilled to do it but I also don't want to just say "sorry I'm not helping". This is a good customer and I want to help him. Give me a percent on a used return that you would be happy with. Let's make believe there is nothing wrong with the knife, it's just been used. No chips or other issues.

I often tell them to use our classified section here but some don't want to deal with it.



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 Post subject: Re: What's a fair offer?
PostPosted: Wed Sep 28, 2016 9:31 am 

Joined: Wed Apr 02, 2014 6:52 pm
Posts: 2236
Difference in price you would re-sell for and double shipping so you don't lose.


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 Post subject: Re: What's a fair offer?
PostPosted: Wed Sep 28, 2016 12:06 pm 

Joined: Mon Dec 22, 2014 1:56 pm
Posts: 1385
Location: Geneva, Ohio
You're a good man Mark. Most businesses would say "you should have done your home work before purchasing"... and leave it at that.
10% restocking fee
Sell it at 10% off
... you lose nothing except shipping to first customer.

:mrgreen:



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 Post subject: Re: What's a fair offer?
PostPosted: Wed Sep 28, 2016 12:35 pm 

Joined: Sun Dec 30, 2012 5:01 pm
Posts: 990
Location: ATL
I agree with Gopher here. I'd say that a higher return rate is somewhat expected in a non brick and mortar business. If it's a good / repeat customer, 10% restocking fee and they pay to ship it to you. Done and keep it simple. I'd make sure they understand that try and buy is not the norm and this is a courtesy.


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 Post subject: Re: What's a fair offer?
PostPosted: Wed Sep 28, 2016 12:50 pm 

Joined: Mon Mar 28, 2016 11:40 am
Posts: 151
I'll leave it to the other 'frequent buyers' to express their opinions, but personally I probably would not buy a used knife at only 10% off..

25%, probably. 20%, maybe.

Mark should charge a high enough restocking fee so he can resell it without a loss.

My guess is that's more like 20-25% restocking fee.. Just my 2¢.


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 Post subject: Re: What's a fair offer?
PostPosted: Wed Sep 28, 2016 3:51 pm 

Joined: Fri Jul 29, 2016 5:47 pm
Posts: 46
I agree that the restocking fee should be more than just 10%. That's way too little, I could screw around with a $250 knife for a week for only $25? Also, I would rather buy new at 100% the retail price than buy a used one for 90%.

I think many other business charge a 15% or more restocking fee, plus they charge the customer for the postage both ways, i.e. customer pays for the return, retailer charges 15% restocking fee plus the initial shipping costs.

Unfortunately, there are many people who take advantage of liberal return policies, and as a retailer, one has to balance providing some benefit to the consumer over buying direct but not get taken by those willing to abuse return policies. When the return policy is stated up front, then at least the consumer can be educated. There will always be people who complain regardless, but that's just life.

Since there's no restocking fee, now I'm all of a sudden really interested in trying, I mean buying, one of the custom Mizuno honyaki gyutos... LOL :)


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 Post subject: Re: What's a fair offer?
PostPosted: Wed Sep 28, 2016 4:13 pm 

Joined: Sun Dec 30, 2012 5:01 pm
Posts: 990
Location: ATL
I will make one comment and then leave it at that. Let's say the returned knife sees a 10% restocking fee and it's resold at 20% off. Ignoring shipping since that's a wildcard, but admitted cost, cktg is losing 10% of their original retail price on a single one off item. If anyone thinks the markup from the distributor to the end consumer is less than 10% on most of these lines you are kidding yourself.


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 Post subject: Re: What's a fair offer?
PostPosted: Wed Sep 28, 2016 5:40 pm 

Joined: Thu Sep 08, 2016 4:08 pm
Posts: 29
Location: Midcoast Maine
Tough question and one I think only you as the business owner can answer. I fully agree that reselling a used knife at 10% off is simply not viable from a prospective purchaser perspective. I would probably expect to pay no more than 85% of new retail and probably more like 80%. The mitigating factors in this scenario are that this is a good customer and that the customer wants credit against a future purchase and not a refund. If his/her subsequent purchase was of equal or greater value I might be inclined take it back for 90% credit and eat the margin loss in handling and the less than 90% resale value. Sometimes those things pay off in goodwill and future sales and, sadly, sometimes they don't. I would, however, emphasize that this was a one-time situation and that future "trial use" returns might not be treated so benevolently.
Returns that are 100% "as new" and can be resold as new I think should have a 0% to 10% restocking charge.
People returning mishandled knives with no subsequent purchase in sight - in that case I'd be the bad guy and make it a 20% or 25% restocking charge or simply say "no" if it so abused that it isn't readily resellable.


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 Post subject: Re: What's a fair offer?
PostPosted: Wed Sep 28, 2016 8:27 pm 
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Joined: Wed Nov 21, 2012 10:17 pm
Posts: 7614
Location: Derby City, Kentucky
I would charge a restocking fee that lets you at least break even after resale. I would not take a loss on the knife and you are still doing him a favor. Only you can figure that percentage or set amount for this particular sale.



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 Post subject: Re: What's a fair offer?
PostPosted: Wed Sep 28, 2016 8:44 pm 

Joined: Wed Apr 02, 2014 6:52 pm
Posts: 2236
gladius wrote:Difference in price you would re-sell for and double shipping so you don't lose.

---------
The difference would vary of course depending on returned condition and resale-ability. Also factor in your time to do repairs if any are required. Definitely don't take a loss.


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