Since last summer, the used IBM 308X market has been surprisingly kind to sellers. For the past several weeks, however, it has become a buyer’s game, and values of even the most desirable systems in the family have dropped sharply. During mid-February, dealers’ asking prices for 3084s in 64Mb by 48 channel configurations fell below $600,000. Takeout bids were heading for the half million dollar range. Future offers to both buyers and sellers were even weaker than some of the spot deals. At the same time a 3081, selling for $245,000 with 32Mb and 24 channels at the turn of the year, became available to users at $150,000 plus the cost of cooling and power units. Takeout bids were heading for $100,000. As for 3083s… they’re nearly scrap. We think the market has overreacted and that it ought to bounce back once again. The fundamental decision about the allure of 308X hardware is up to users, who are under pressure from IBM as well as the Joneses to migrate to ESA. The third parties don’t have much choice. At best, the larger lessors could warehouse a few systems and temporarily reduce supplies. At worst, they could throw in the towel and let the market go into free fall, which is what happened in February. IBM is similarly incapable of managing the used 308X market’s meanderings. The company’s main influence results from its ability to make 3090 systems more (or less) attractive than their 308X family predecessors. – Hesh Wiener (C) Copyright 1989 TNA
