Summits resale value? Not liked?

Hi guys,
I just wanted to ask you guys a few questions... I have been a Martin Logan owner for years and have had almost every model out there over the years with the exemption of the lower end and the very top end models. I have had my Summits up for sale on Audiogon for over 5 monthly runs... but not on there now. My question is that I have not had a single inquiry for all 5 months and I had them listed at $6500obo and they are mint condition. I have always considered having MLs is like having money in the bank, but I am flabbergasted by this. I truly think it is the best speaker they ever made and one of the best speakers on the planet unless you want to spend stupid amounts of money and (other than probably the Statements or the new CLXs, which i have not heard). I really do not want to sell my summits, but I am in a bad financial situation and I really need sell them. In the past I have always sold my MLs very fast and for what the going rate is. I did this with Prodigys, Oddyseys and SL3s. I watch other peoples listings on Audiogon for Summits and none of them seem to be selling... What do you think is going on??

the probelm is that right now you can walk into tweeter or sound advice and buy a floor set like me for 6k out the door pretty much. i think that is what is keeping resale slow at the moment.

I think that the general state of the economy may have something to do with it as well. Banks aren't lending money and people who may have that sort of scratch laying around are probably postpoining major purchases for the time being.

Most of the folks I know are just saving what they can and praying that they still have a job 3 months from now.

Well - I think that is one heck of a speaker for that price... But, I think the question then becomes the Spires/Summits comparison. Which one sounds better? I have heard some say the Spires... Anyone here think the summits sound better than the spires?

I would think the summit is basically the spire with the additional sub and x-over control... I know about the new tech on the panel - but, does the spire really sound better... and if it does -- if you turned down the woofers on the summit - and just compared panel to panel - would the diff be that big? I find that the woofers have a tendency to make us 'think' the panels sound differently...when it is really the bass information that warms up the panel's sound....

just turn the news on dude people really are having a hard time paying for the stuff they have let alone high end speakers.

buy for the love of music and be happy ! keep what you have and just jam on !

shutterbug67 said:

In the past I have always sold my MLs very fast and for what the going rate is.

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Within the context of your own post you have answered you own question !!

In the past................. !!!

for what the going rate is ................... !!!

Too bad they are not easy to ship otherwise I would have bought them..

Timm,

On the issue of Summit versus Spire and differences thereof, I believe you are spot on with your observation.

More mid / low bass clearly impacts the mids and highs of any transducer and gives the overall musical presentation a "warmer" feel.

Less mid / low bass will tend to make for a drier, cleaner presentation with the caveat of potentially sounding less musical and more hi fi.

GG

The rough economy is probably the biggest factor right now. There are two pairs of summits on Audiogon right now that have been there for 17 and 19 days for $5900 with no offers, and a pair of Bubinga Spires for $5750 which also hasn't gotten any offers.


Timm:
I haven't ever heard Summits, but personally I'm just a sucker for new technology. I had the opportunity to buy Summits or Spires for the same price, and I chose the Spires. My guess is there are probably other people like me out there. Of course, had I heard them side by side, it's possible I would have opted for the Summits.

Feltran said:

The rough economy is probably the biggest factor right now. There are two pairs of summits on Audiogon right now that have been there for 17 and 19 days for $5900 with no offers, and a pair of Bubinga Spires for $5750 which also hasn't gotten any offers.


Timm:
I haven't ever heard Summits, but personally I'm just a sucker for new technology. I had the opportunity to buy Summits or Spires for the same price, and I chose the Spires. My guess is there are probably other people like me out there. Of course, had I heard them side by side, it's possible I would have opted for the Summits.

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Wow - see, I would need to hear both and hem and haw a bit.... I have found that buying used is no problem at all...

Can be bought from dealers cheaper.

Since they have been discontinued,dealers are unloading them cheaper than your asking price.Remember that your speakers do not have any warranty once they change hands.The ones from the dealer do.ML does not tranfer the warranty.Good Luck.

I think the same thing can be said for other brands of high end equipment as well. With the economy , it's just not moving. The same thing is happening up here in Canada, plant shutdowns, dollar down and things priced to go just are not moving.I look on our Canadian site www.canuckaudiomart and see the big items at a standstill.

I really think that this hobby is made up of your average people with a passion for music and equipment.These paople are feeling the pinch of the economy.I hope for your sake that you can find other ways to get through this tough time without selling your speakers.

Cheers

its everybody except the ultra rich the people with real wealth that will not feel the downturn they will profit and become even more powerful.

Audiogon Reality

There are many items on Audiogon that never sell and this was the case even before the recession hit strong recently. They way Audiogon is set up, your ad gets front page for a day or two and then it drops down the list and no one see it unless they dig though the pile or do a specific search. You'll see that you get a lot of hits the first two days and then the rate drops of sharply. The only way to counter that is to significantly lower your price or re-list the ad to regain the visibility you get from a newly placed ad. A photo helps a great deal. Also if you are not willing to ship and require a local purchase then your pool of eligible buyers shrink significantly.

Have you posted an ad on this website? Ads are also free on the Audio Asylum.
Good luck!

shutterbug67 said:

Hi guys,
I have had my Summits up for sale on Audiogon for over 5 monthly runs... but not on there now. My question is that I have not had a single inquiry for all 5 months and I had them listed at $6500obo and they are mint condition. I have always considered having MLs is like having money in the bank, but I am flabbergasted by this. What do you think is going on??

Click to expand...

Others have covered most of it, but do let me also say the price is way too high considering: a) the economic recession; b) the fact that dealers are offloading demos for around $7000; c) the Spires vs. Summit issue (have no opinion, but for a couple of thou *tops* - 'cause you can haggle in this economy - I would indeed get the latest if I liked those kinds of speakers); d) do you take paypal, so that buyers can use a credit card? e) is perhaps your feedback too low or non-existent? Also, I never get offers via the audiogon link, and people just email with questions and an offer; I do the same.

Try pricing in the low $5K and if necessary the $4K range and you will sell, if you really must.

I was at tweeter yesteday and they had summits for 5900.00 or maybe 5600.00 i dont recall. but it wasnt over 6k. i was there checking out some subs and they had a grotto i for 950.00 new plus 15% off if i bought on the spot. they economy is hurting us all. the store was empty with no traffic