Quiescent Part Exchange Scheme
Part of our growing customer service strategy now includes a part exchange scheme. This scheme is helpful for customers who already own Vertex AQ or Quiescent products who may want to part exchange in order to upgrade. It is also beneficial for new customers wanting to access quality pre-owned stock.
This is how the system works:
Part Exchange. We will take in part-exchange as part of a new purchase, used Vertex AQ or Quiescent items according to the following criteria:
- Items under consideration for part exchange will be returned to our workshops for testing and a condition check. Provided the checks are satisfactory and the item(s) are in current production and in a normal used condition you will be offered a part exchange value of 50% of the current new purchase price of that item.
- Discontinued items (older vertex pieces) will be assessed on a case-by-case basis and customers will be notified of the assessed exchange value.
- If exchange items are assessed as unsatisfactory, customers will be notified and the items returned.
- The maximum proportion of the part-exchange value is 30% of the value of the new purchase item.
- Once the part exchange is agreed you will be sent a unique discount code to use at the checkout when you purchase your new item.
Part exchange example: Upgrade from Standard Taga to HiRez Balanced Taga. New prices – HiRez Balanced Taga £2250.00 (net), Standard Taga £700.00 (net). Trade in on used Taga = £350.00, so to pay on new HiRez Balanced Taga = (£2250.00 + VAT + shipping) - £350. Assumes customer is not VAT registered for our purchase of the old item. VAT on new item not applied to sales outside EU.
Pre-owned items. Pre-owned stock will be sold on our website as follows:
- Pre-owned items will be posted in our pre-owned section at 70% of the current new purchase price.
- Pre-owned stock will have been serviced by us and will be sold-on with our LSA which includes any remaining five-year warranty OR an additional one year warranty for older items.
- Our pre-owned stock benefits from the VAT Margin Scheme, so you only get charged 4.8% VAT (equivalent to 16.6% on the margin).
Benefits of our part-exchange scheme.
Confident budgeting. By having a standing offer on the part-exchange value of used items with us, customers can accurately budget for upgrades rather than the uncertainty of a possible sale on eBay say. Furthermore, you do not have to do any of the administration for the sale, or suffer a lower realised value of sale than you were hoping for. Nor do you need to worry about any possible dispute with a buyer of your used item (claiming more scratches/marks than you declared for example).
Peace of mind. Buyers of pre-owned products from us can be confident that the item is in good condition and perfect working order. As the original manufacturer, we know the product's history and will have ensured that it maintains our quality standards. Buying your first used item also enrols you into all the other benefits of our customer Lifetime Support Agreement (LSA).
Benefiting from the VAT margin scheme. Interestingly, not every customer is aware of the huge benefit of the UK/EU VAT margin scheme for selling second hand goods. But at Quiescent we intend to exploit this system fully, and pass on all the benefits to our customers. Because we standardise the buy and sell percentages, we can also standardise the VAT setting on our website for the VAT due on the sale of our pre-owned stock. It's simple for our customers – simply go through to checkout and see how it only charges 4.8% VAT. That's it. We do the rest!