Getting In vs Getting Out

jtl · Dec 12, 2018

We have lots of good advice for people getting in to the hobby but what about when you want to get out. I have done this a few times but it is never easy, much easier to buy than to sell. Sometime in the next year I am going to call it quits so my wife and I can travel without any restrictions.
I have kept very accurate records of my expenditures since I built this tank a year and a half ago and I am closing in on $9K and I am a bargain hunter and have nice but no high end stuff, I don't even have a controller. I was amazed at how fast it added up. I spent a bundle on good coral frags, some made it and some did not. The 50 or so that I have are growing into small colonies so my hope is they will have value to someone that was instant gratification or to frag them. I think I can get about $2500 for all of them which is less what I have in them. The tank and equipment cost me at least $5K and is probably worth $1500 on a good day, a very good day. My past experience is you get about 30% of your investment. What do you peeps think or have you not considered this?

davocean · Dec 12, 2018

If you are lucky you might get half of investment back, usually best to piece out everything for max amount, though it can be a pain that way.

TomToro · Dec 12, 2018

Reefing for me is like modding a sports car. You never get anything close to what you put into it. Having said that, I agree that piecing it out is going to yield more money. I'm going to be doing this as well when my wife retires next year so I'll follow along and learn from you. I already decided however that I'm going to offer a one price for everything and see if that works first, just so I don't have a string of folks I don't know traipsing through the house.

Tumey · Dec 12, 2018

It would mean more to me that someone with appreciation, excitement & passion end up with my system, equipment & inhabitants when I decide to call it quits. I know and have accepted the financial return won’t even be close to what I’ve put in. Getting out & offering everything as a package would be simple and efficient but would likely leave you with less of a return. Piecing things out could gain you a bigger return however I think you’d have to put more time & energy into the process going this route.

Tumey

jtl · Dec 13, 2018

I did this a few years ago with a similar sized system. I was able to get less than 50% of my cost for the equipment which was no surprise. I did a quick estimate of what I think my hardware, tank, stand, ect would sell for an came up with a $1000 which is about 25% of what I have in it.

Corals are likely to return all of their original cost if not more because I bought theme as frags with only a few heads and not they are much larger. I would like to think I can get as much as $3000. When I tore down my last tank which did not have as many corals as this one I think I got over $2000. That is why I am letting this grow out for another year.

It would be a rarity for someone to make money or even break even. Especially, if they bought new. Most people cannot afford to buy a complete setup, with corals like mine and if they can they buy new.

Ruben's Reef · Dec 13, 2018

TomToro said:
Reefing for me is like modding a sports car. You never get anything close to what you put into it. Having said that, I agree that piecing it out is going to yield more money. I'm going to be doing this as well when my wife retires next year so I'll follow along and learn from you. I already decided however that I'm going to offer a one price for everything and see if that works first, just so I don't have a string of folks I don't know traipsing through the house.

Agree. I bought this Toyota Previa SC for $1.500 and sold it for $14.000 but only the body work and paint job was more than $10.000. That's not counting the Koukis Headlight and tail lights and body kit from Japan.