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Should get you the best buying price.
But....then.... there is PayPal and auction fees, plus dodgy buyers out to scam sellers...and get something for nothing. People who will
destroy an item to get their money back. Rare, but it happens....
Personally, I think it’s a crazy risk to sell on EBay these days.
"Take these three items, some WD-40, a vise grip, and a roll of duct tape. Any man worth his salt can fix almost any problem with this stuff alone." - Walt Kowalski
"Only two things are infinite - the universe, and human stupidity. And I'm not sure about the universe." - Albert Einstein
The other 'plus' in doing that is that you get to meet a nice bunch of like-minded idiots.
Seriously: If you value it, take/fetch it yourself
If your item fails to sell first time, eBay automatically relists it for you without asking permission. When your item is eventually bought, fees are deducted in an manner to which you may not have consciously agreed at the outset.
It is a common practice to Watch an item of interest in the specific hope that it fails to sell first time around and is then relisted at a lower price. From the seller’s perspective, this is a double blow.
I concur with those who take the Buy-It-Now and Best Offer approach. Take it or leave it. No bid sniping. No tyre kickers.
Ultimately, for several reasons, eBay is not the best place to sell pre-owned, quality music gear.
One thing that they've done recently is to test the water with allowing you to legitimately make your contact number available, and if you can get into a conversation with a prospective buyer (or seller) that makes the process pretty good - I've met some good people in that way.
Higher than £2000-ish, and I'm not as sure - I recently listed an L-5 Signature before I decided to withdraw it. Plenty of watchers, but no enquiries, although it a) was over £5k and b) around Christmas. I certainly wouldn't do an auction with the higher-priced stuff, and would wait for their £1 commission offer and go for a 'buy it now' with 'best offer' and pitch the price at about 10% more than you'd hope to get. In fairness, I did sell a 1959 ES-225 at £4000, after it was listed on eBay though.
I'd still say that it was the best outlet for sales though (with some caveats, as above) - Gumtree used to be OK (apart from the scammers), but I haven't had anything from Gumtree for ages and have virtually given up on it. I've bought and sold an amp and sold a guitar on tFB recently and, although there aren't too many sniffs (my stuff tends to be semi acoustic/jazzbox stuff) I've met three very nice people and had lots of good conversations with some people that I'm now in regular contact with.
Another option, which has been mentioned, is to sell through a reputable dealer and pay them commission.