While the second-hand television and refrigerator markets have indeed expanded in terms of numbers thanks to the exchange offers, they have also had an adverse effect on the pricing schemes.

The offers place values ranging from Rs 6,000 to Rs 10,000 for colour televisions and Rs 4,000 to Rs 5,500 for refrigerators under the exchange schemes. But in the seconds market, the old televisions and refrigerators are valued according to the age of the product. A 10-year old colour television would fetch only Rs 2,000, if it is in working condition, while a two-year old premium model can fetch as high as Rs 7,000. But what has caught the dealers' fancy is the fact thatany average consumer who wishes to sell an old television demands at least Rs 10,000 for it, never mind the working condition or the age of the product. After protracted negotiations, the price will be brought down to Rs 8,000! The pinch comes not only from paying high prices for the units but also because the dealers are not able to dispose the sets at comparable features. For all the spit 'n shine and decking up, the maximum that an old television can fetch in the seconds market is Rs 7,000 and that too for a one or two-year-old set with top-of-the-line features.

And even this price is falling by the day, lament seconds dealers in the city. When new televisions are available for Rs 11,000 and access to easy, low-cost financing is also thrown in, buyers do not want to spend so much on second hand sets, says Ilango who runs RE Electroncis and is a second-hand electronic goods dealer.

This view is echoed by K B Muralidharan, another dealer in the city. ``Earlier I used to get a lot of sets for disposal andmy margins used to be fairly good. But since the exchange wars started, my margins have suffered as the difference between the buying and selling prices are miniscule,'' he says.