How do you price a used bike to sell?
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How do you price a used bike to sell?
Post by chromedome on May 24, 2007, 8:41pm
Just curious how you would determine the price of a used mountain bike when selling it. I was talking to a mechanic from a bike shop tonight, and he suggested that bikes depreciate about 15% per year if they are in good condition.
That seems like too little depreciation to me. I figure that between bike technology changing & generally improving all the time, and the high wear and tear on mountain bikes, that their resale value would drop faster.
I just sold a 6 year old hardtail to a friend of mine for $300. I'd bought it new for $1100, and figured $400 would be top value on the open market, so I was willing to do $300 for a friend. This mechanic was suggesting I could have got $600 for it, but I think that's too much.
I'm not concerned about the bike I just sold, but I've got a newer bike I might be selling, and I want to get a good dollar on that one....
Re: How do you price a used bike to sell?
Post by marco on May 25, 2007, 10:59am
It sure would be nice if there was a formula you could use to plug in the bike variables and have it spit out a value. A few factors that will add value to your ride is the condition it is in and the time of year you are selling. Spring - more money, Fall - less money. That being said, the price you ultimately get for your bike is what the "market" will dictate. Is it a common bike = less money or is it a higher end not so common = more money. My recommendation is to do a search on www.pinkbike.com (and other similar sites) and see what others are selling the same bike for and judge it accordingly. It would be difficult to sell your bike for more money if there are others out there with the same year, components and condition. As for the 15% depreciation - that may be true for someone who bought a bike from the LBS in the fall on mega sale. If you bought a $2500 ride in the spring you would be hard pressed to get $1500-$1700 for it in the fall.
Happy selling.
Re: How do you price a used bike to sell?
Post by g on May 25, 2007, 7:43pm
I'd say in the first two years, if the bike is still in good condition, you should get roughly half. Maybe half plus a bit.
Brand new never ridden, they loose 30% as soon as they get outside the door.
Think about it...If someone is advertising a brand new "whatever" in the paper. Would you buy it for 15% off new? Are you nuts or what? I'd go buy it new, and get the warranty. Used at all and it has to be about half.
-G
Re: How do you price a used bike to sell?
Post by chromedome on May 25, 2007, 7:59pm
Yeah, Glenn, that was my original feeling. I was just looking for a reality check in case I was low-balling myself on what I could expect to get for a bike.
As per Marco's advice, I'll try to keep an eye on craigslist and pinkbike for the pricing of bikes similar to mine, but from random checks in the past, I haven't seen much.
Thanks
Re: How do you price a used bike to sell?
Post by stoner on May 26, 2007, 12:46pm
Hey,
6 year old hardtails aren't exactly the most sought after bike. I can't think of anyone that would pay $600 for it. I think $300 sounds fair for a friend.
Paul
Re: How do you price a used bike to sell?
Post by g on May 26, 2007, 2:20pm
Nice new Handle Paul.........not what I would have thought of......but......nice none the less.
-G
Re: How do you price a used bike to sell?
Post by stoner on May 26, 2007, 4:35pm
Thanks,
Johnp was the original source for it! In this thread: http://gorba.proboards21.com/index.cgi?b....read=1178734548
Paul. er. Uber-Buff.
I vote....
Post by thumbies on May 26, 2007, 5:30pm
that you change the 2nd 'B' to a 'FL'....then it sounds about right
Hopper
Re: How do you price a used bike to sell?
Post by johnp on May 26, 2007, 11:44pm
ROFL!!!
Love the name change... but I think I like hopper's idea better
hahahaha
Re: How do you price a used bike to sell?
Post by stoner on May 27, 2007, 6:29am
Re: How do you price a used bike to sell?
Post by pipe on Jun 1, 2007, 9:44pm
funnny how original threads here devolve fairly quickly!!!!
i got a new one though. I picked up a rioad bike recently. Its at least 12 or 13 yrs old. Been sitting in a bassement for the last 6 yrs. I've been told to "make an offer"---to hold it free and clear ---and not feel indebted to a buddy (he deserves something).
Its all high end stuff (though not made in the last ten yrs)--shimano 600 group components. campi cranks and wheels on a 'gardin' steel frame.
the rubber is this---gonna cost me at least 300 bucks to get it back in riding form (bloody tubular tires are expensive!). I don't want to low ball him with 50 bucks---i know i could sell the parts for a fiar chunk to some roadie freaks (i'm new at it---just needed a bike for a tri, i swear!!!!)
any ideas??!
Re: How do you price a used bike to sell?
Post by g on Jun 2, 2007, 9:26am
Pipe,
Bring that thing in and let me see it.
I think I could get it running for less.
You should be able to get a decent training tubie for $40-50.
Putting them on is a piece of work, not for the newbie.
-G