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A source of problems for treasure hunters, in parallel to leased detectors, is the second hand detectors. These are supplied to the market when their previous owners replace the detector with a newer and more advanced model.

It is very risky to buy or sell such second hand devices. It is probable that such devices may be worn out cosmetically, as well as defective, or faulty technically. The attempt to sell these does not bring many fruits to the original owner, the store, as well as the second owner. For the original owner will sell the detector to the store at a price much lower than its fair value. The store owner will have difficulties with respect to the marketing, repairs, servicing and customer satisfaction regarding this detector, which may or may not have problems. To cope with the problems, it shall seek a price much higher than its fair value. The second owner, as a result, will get to own a second hand detector at an inflated price, while accepting all risks involved. In this case, all three parties are vulnerable to suffering some losses.

Some detector dealers claim that they refurbish the second hand detectors they buy back. Yet, they certainly lack in facilities to achieve such refurbishment. In particular, refurbishment of imported devices warrant a trip back to the country of origin. Which would be prohibitively costly for a second hand detector. Therefore, a detector which most probably causes a problem undergoes cosmetic repairs, a cleaning of visible mechanical parts, to create an impression of a barely used device.

In some cases, these detectors may be marketed even as brand new devices. In case the detectors bought from the original users have no visible wear, after a through cleaning, they may be marketed as brand new detectors.

Given these potential problems, we recommend the prospective customers to prefer the brands and models from institutional firms, which offer service, training, and aftermarket support with warranty. A careful analysis reveals that a brand new price does not have a large premium over second hand devices. Furthermore, the installment payment opportunities provided will make it easier to but new detectors. What one should take into account is that price difference would not always reflect a quality difference. In today's environment of constant change, the commercial perspective and competition is bound to pull the prices down. Fast pace of development of technology often causes the products of a previous generation to be shelved without a second thought. This makes it possible for the customers to purchase a newer technology at a lower price point. One should remember the example of the computer technology.

The computers bought just recently, as products of most advanced technology, are replaced each day by superior as well as more affordable models. The pace of change and development affects the supply and demand equilibrium, encouraging the purchase of better and newer products at more affordable price points. This is how the markets should operate. In this context, no one would like to take a chance with all the potential problems, and to buy into an unknown price/performance equation.

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