Any new homeowner knows just how daunting it is to choose furniture for their home: there are endless designs, styles, and options available. Luckily, this difficult choice is often made easier as people tend to have a budget for just how much they can spend on furniture.
Often people purchase more affordable goods, such as IKEA furniture, as it will serve them well for a few years until they can afford to purchase some higher-end pieces. However, this can lead to the issue of what to do with your used IKEA furniture once you are at this stage in your life. Luckily for you, I have created a useful guide to determine just how much your used IKEA furniture is really worth.
Near-new, good condition items can go for ±70-80% of retail and older, good condition pieces for 50-60%. Moderate condition items won’t fetch more than 50% of retail if they’re repairable. If they aren’t, they are likely only worth a few dollars. A few pieces are considered vintage and go for thousands.
Factors Influencing Value of Used IKEA Furniture
Just like any piece of furniture, the resale value of IKEA furniture will depend on a variety of factors.
Furniture that is practically brand new will definitely score you a higher price than furniture that has evidence of late-night cram sessions as seen by coffee cup stains and pen markings that just cannot seem to be removed.
If you are looking to sell your IKEA furniture, then you need to set realistic expectations for just how much you will get for the item(s).
For instance, if you have a plain desk, with almost no scratches, marks, or dents then you will likely be able to sell it for close to the original price.
On the other hand, a one-seater couch with scuffed legs and ripped fabric will struggle to sell, and if you do, you will probably be negotiated to a sad price (but something is better than nothing).
Look, if you don’t really need the money and are just looking to get rid of unused furniture, then you will probably be able to sell your pre-loved furniture quite easily to people who love to DIY or upcycle products.
Another factor that will determine the value of your item is if the item has now been discontinued in IKEA stores. If it was a unique and highly trafficked item, then you will tend to sell it quite quickly as people will want to get their hands on the “rare” piece of furniture.
However, if you bought a piece of furniture that is an odd color or style, then it might turn out to be tricky to get it off your hands unless you come across another individual with a style similar to yours.
Guide for Value of Used IKEA Furniture
The basic principle when trying to sell your furniture is to price it around 20-50% of the retail price you paid for the item.
Furniture is not really considered an asset as its quality can depreciate its value relatively quickly. This is particularly true of lower-quality items with poor durability such as those from IKEA.
If you paid $50 for a brand new desk chair, and in the 2 years you’ve owned it, your cat has attacked the fabric back and the wheel is slightly loose, you can’t expect someone to pay that price for it. The following serves as a guide for how to price your second-hand IKEA furniture.
Near-New, Good Condition
If the furniture you are trying to sell is less than a year old and is in near perfect condition, then you can price it higher than 50% of retail.
For instance, your standard IKEA wooden dining table set with 4 chairs is around $400. You can expect to be able to sell your nearly-new, slightly used set for at least 60-70% of that (around $240-$280). People will pay for quality, and if they can get it at a reasonably reduced cost compared to retailers then it’s a win-win for everyone.
If the item was only bought in recent months and you have managed to keep it in great condition, then you may even be lucky enough to sell it at a price even closer to what you paid.
Not New, But Good Condition
If your pre-loved furniture has been around for a couple of years, but you have managed to maintain it and keep it in good condition, then you may be able to sell it for a decent price, probably around 50% of retail.
Furniture made of higher quality materials, even when old, should be able to be sold at a relatively high price as these items tend to be more durable than others.
For instance, your average leather IKEA loveseat goes for around $900. A quick search online and you will find a second-hand one, in decent condition, for only a few hundred dollars less, around 70% of the retail price.
Of course, older furniture made of lesser quality materials (such as plastic or plywood) but still in good condition will probably only be able to sell around 30-40% of what you paid for it. This is because the material is a lot less durable than wood or leather and is, therefore, less valuable to a potential buyer.
Moderate Condition
Second-hand furniture, no matter its age, in moderate condition (or slightly damaged) will likely not sell for more than 40-50% of the retail price.
A brand new leather sectional couch from IKEA can cost you upwards of $1000, depending on your desired style or size. However, a slightly torn or faded second-hand version of the same couch will only set you back about half of that.
In Need of Refurbishment
If you are trying to sell furniture that is in need of major TLC, then you cannot price it as you would furniture that is ready to go.
Scuffed or faded tables that need to be refinished will probably go for no more than 40% of the retail price. Chairs that need completely new seats and polished legs or seat cushions will go for even lower.
You are expecting potential buyers to do some work on the item in order to make it valuable, so if you charge anything ridiculous, you will be taking advantage of them.
Another factor you have to consider here is if the piece can even be refurbished. IKEA use cheaper materials, which helps them to lower their prices. Sometimes, these materials cannot be repaired. Wood veneer with scratches for example; the wood layer is too thin to be sanded down and repolished. In such cases, you may only get a few dollars for the item.
Are Any IKEA Pieces Considered High-Value Vintage?
Despite the general consensus that IKEA furniture is of inferior quality, there are a couple of pieces that are considered to be of high value and even fall under the “vintage” label when describing them.
One highly valued piece is the Verner Panton “Vilbert” Chairs that were manufactured in the early ’90s and only a few thousand were made. They might seem minimalist, but don’t think their simplicity will bring you only a few pennies. A set of these chairs sold for over $5000!
Another highly sought-after piece is Niels Gammelgaard’s “Moment” Sofa that circulated in the late ’80s. Despite designs similar to this still being manufactured for IKEA and are quite popular today, one of these original sofas can be sold for nearly $2000.
If you own one of these pieces, you will probably be able to make a huge profit if you decide to sell them, but where you sell them matters. It is advised to sell them on sites such as eBay or Etsy in order to make top dollar.
IKEA Will Buy Used IKEA Furniture
If you are not really a Facebook Marketplace whizz or have no idea how Gumtree works, do not worry that you won’t be able to sell your second-hand IKEA furniture in any other way than through a garage sale (which, with COVID, would not really be ideal at the moment).
IKEA provides a service where they buy back your furniture and resell it. You won’t receive cash for this transaction, but rather IKEA credit (usually a gift card) where you can buy something else from the store without using your own hard-earned cash.
Obviously, IKEA won’t take every single second-hand item. There are certain rules and requirements that need to be met in order for the transaction to be approved.
- The item you are trying to sell must have been part of an IKEA range.
- Items applicable to sell must fall under the Home Category; these are the only items you are able to sell: shelving, glass door cabinets, wardrobes, desks, tables and chairs, and drawer units.
- The product needs to be fully assembled, in relatively good condition and no modifications can be made (so, remove any unique handles you might have added to your wardrobe, and put the original ones back on).
- You will be expected to provide some sort of identification when finalizing the transaction.
- These transactions are limited to 20 items per individual (so no, you can’t bring every single item you have ever bought from IKEA and expect to get compensation for it).
On the IKEA website, you can even select the item you want to sell in order to see the potential amount of credit you will receive depending on its condition.
Sources
https://www.ikea.com/es/en/customer-service/services/buy-back-resell/
https://www.realsimple.com/home-organizing/decorating/vintage-ikea-furniture