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Sales of used goods increase

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Toyota (NYSE: TM) has introduced a new program to sell certified used hybrids. Consumers aren't buying the Prius in great numbers any more. Its technology makes it more expensive that similar gas-powered autos.

A walk along Fifth Avenue in New York City shows that Torneau, one of the top watch retailers in the world, is filling its windows with certified pre-owned watches. The showcase windows at the stores recently had only new time pieces.

The sales of used Apple (NASDAQ: AAPL) iPhones is increasing. New came out today that Gamestop (NYSE: GME) is finding that "used" is in vogue According to The Wall Street Journal, "What sets it apart from other game retailers is its virtual lock on used game sales." The retailer has figured out that some people simply can't afford games that are new.

Welcome to the "used" economy. By many measures, a new car losses 30% of its value the minute it drives off the lot. Most watches are marked up 40% when they are sold new. That premium disappears once it goes onto a buyer's wrist. If that seems hard to believe, go to the watch section on Ebay (NASDAQ: EBAY)

In an effort to pinch every penny consumers who must buy things are looking for goods that are in good shape but do not carry the premium of price that being the first owner does.

What's next? Used food.

Douglas A. McIntyre is an editor at 24/7 Wall St.

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Last updated: November 24, 2009: 05:57 AM

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