Nowindknots,
My experience has been in dealing with a couple of local shops, hanging out and helping them out on a barter system is;
They will take a rod / reel in trade for the approximate whole sale ammount is depending on condition and then mark up 10-20%. They will also use these rods for classes which works out as well because a newbie starting out with no gear, learns on something will tend to buy for the right $$, especially when they see what it would cost new. Also keeps them from having new stuff turned used and then having more used to unload.
Pete