Used good

From Wikipedia, the free encyclopedia

"Second hand" redirects here. For other uses, see Second hand (disambiguation).
A busy yard sale, a common place to find cheap used goods.
A busy yard sale, a common place to find cheap used goods.

A second-hand or used good is one that is being purchased by or otherwise transferred to a second or later end user. A used good can also simply mean it is no longer in the same condition as it was when it was first transferd to the current end user. With respect to a quantifiable resources, such as the charge in a battery, it also refers to something which has been partially or completely depleted.

Contents

[edit] Donation of used goods

Many items that are considered obsolete and worthless in developed countries, are useful and valuable in developing countries. United States taxpayers can deduct donations of used goods to charitable organizations. Both Goodwill Industries and the Salvation Army web sites have lists of items with their estimated range of values.

[edit] Sale of used goods

Online auction sites have become a popular way to sell used goods in recent years.
Online auction sites have become a popular way to sell used goods in recent years.

Used items can often be found for sale in thrift stores and pawnshops, auctions, garage sales, and in more recent times online auctions. Some stores sell both new and used goods (e.g. car dealerships), while others only sell new goods but may take used items in exchange for credit toward the purchase of newer goods. When an item is no longer of use to a person they may sell or pawn it, especially when they are in need of money. Items can also be sold (or taken away free of cost) as scrap (e.g. scrap metal). Owners may sell the good themselves or to a dealer who then sells it on for a profit. However, because the process takes some effort on part of the owner they may simply keep possession of it or dump it at a landfill instead of going to the trouble of selling it.

[edit] Purchase of used goods

As dumped used goods take up space in landfills some may purchase them for environmental motivations.
As dumped used goods take up space in landfills some may purchase them for environmental motivations.

The strategy of buying used items is employed by some to save money, as they are typically worth less than the equivalent new items. Purchasing used items for reuse prevents them from becoming waste and saves costly production of equivalent new goods. Motivations for purchase include conserving natural resources and protecting the environment, and may form part of a simple living plan.

Despite this, many people prefer to buy most or all of their goods new. They may feel safer buying new because a warranty is provided or because they are concerned they may be buying stolen goods. Goods purchased secondhand may also be exempt from certain legal requirements (e.g. consumer protection laws). Other consumers may be willing to buy used, but simply do not know where to buy them or lack the expertise needed to make a good purchase (e.g. a used car). Haggling may be involved in purchase of used goods, especially in less formal situations like a yard sale. Some consumers are uncomfortable or inexperienced in this situation too, and may choose to buy new goods instead. However some simply prefer their goods brand new and/or feel secondhand items are inferior or shabby (the 'yuck factor').

[edit] Depreciation

Jewellery often appreciates in value over time.
Jewellery often appreciates in value over time.
Main article: Depreciation

Depreciation is a term used in business to measure the decrease in monetary value over a good's economic lifetime. Most goods depreciate in value over time, some very quickly and others more moderately. Certain goods may however remain at a fairly steady value or even appreciate in value (e.g. jewellery and antiques). In this case used goods may be a form of investment.

[edit] Hand-me-downs

When a person gives an item of some value that they have used to someone else, typically an acquaintance or family member, it is sometimes referred to as a "hand-me-down".

[edit] Types of used goods

[edit] Used cars and vehicle batteries

Used cars like this Toyota Corolla cost much less than newer vehicles, but can sometimes be more trouble than they're worth.
Used cars like this Toyota Corolla cost much less than newer vehicles, but can sometimes be more trouble than they're worth.
Main article: Used car

Used cars are especially notable for depreciating in value much faster than many other items. Used cars may have been bought or leased by their previous user, and may be purchased directly from the previous owner or through a dealer. George Akerlof published a paper entitled "The Market for Lemons", examining the effects of information asymmetry on the used car market. Used cars may require more maintenance or have fewer features than later equivalent models.

For used plug-in or all-electric vehicle batteries, see V2G.

[edit] Used clothes

Used clothing is often donated to charities which sort and distribute for free or a reduced price. Rather than distributing the clothing directly, some organizations will sell collected clothing in bulk to a used clothing redistributor, and then use the raised funds to finance either their charitable or for-profit activities, as they see fit[1]. Used clothing unsuitable for sale in an affluent market may still find a buyer or end-user in another market, such as a student market or a less affluent region of a developing country.

[edit] References

  1. ^ Old duds, big bucks; Clothes you think you're donating to charity are frequently sold for profit Toronto Sun, 2007-Jan-11, retrieved 2007-Apr-16.

[edit] See also

[edit] External links

Look up goods, second hand, used in Wiktionary, the free dictionary.