Resale value is the amount of money you get if you sell something you already own. Whether you are selling a car, a house, a boat, or something smaller, knowing the resale value will help you to correctly price or value your item. Pricing can be a tricky thing; if you price your item too high people will not want to buy, and if you price it too low people might think there must be something wrong with the item.
Gather all the information you can on the item you want to sell. For cars, the make, model and mileage is important, as well as condition. For houses, record things such as the number of bedrooms, baths, lot size and square footage so you can select comparable houses.
Research similar items online. For home resale value, check out recent home sales in your area. For car resale value, check out sales of vehicles of similar make, model and mileage. The more closely the items you are comparing yours with, the more accurate your calculations.
Write down a minimum of five sale prices for items that are comparable to yours on a sheet of paper. The more data you are able to gather the more accurate your calculations.
Add all the sales prices together and divide by the total number of items to get the average sales price. This will give you the resale value of your item.
For home sales, a local real estate agent can give you recent sales prices or, depending on the state you live in, you can get them online. Some states such as Texas are non-disclosure states so you cannot get actual sales prices without being a licensed Realtor. If you want to sell faster, price your item a little below the average sales price.