Caerus Posted March 11, 2011 Share I've been wondering what a 2nd hand bike is really worth. Since doing up my old bike, I'm now wondering if I was to sell(not going to) it, what would it be now worth? So Ive spent money on a new wheelset & tyres(R3000), other small component upgrades(R1500). I just need to upgrade the brake system(another R2000), seatpost & stem(another R1000). The only "old" parts is the frame(GT aggressor 2005), seatpost, stem & handlebars. I realise I would never get back what I've spent(who says money cant buy happiness), just wondering how you would work out its worth. Link to comment Share on other sites More sharing options...
FrancoisC Posted March 11, 2011 Share Usually 60-70 percent of what you paid new is relatively fair provided all's in good nick. Link to comment Share on other sites More sharing options...
Caerus Posted March 11, 2011 Share Usually 60-70 percent of what you paid new is relatively fair provided all's in good nick. I understand that, but I originally bought(cost me 400 pounds back then) this bike in 2002. So should I work off what I paid then? All thats left from the original bike is the stem, seatpost & handlebars. I got a frame replacement in 2005. It just been upgraded from 8 to 9 speed now as well. This could apply to anyone that has done a similar thing. Its purely for interests sake. Link to comment Share on other sites More sharing options...
Grebel Posted March 11, 2011 Share I understand that, but I originally bought(cost me 400 pounds back then) this bike in 2002. So should I work off what I paid then? All thats left from the original bike is the stem, seatpost & handlebars. I got a frame replacement in 2005. It just been upgraded from 8 to 9 speed now as well. This could apply to anyone that has done a similar thing. Its purely for interests sake. Speaking of the new bike... Where are the pictures...?!?! Quite keen to see the sprayjob!! In my opinion, if you do something like that, it is difficult to put a value on it. The parts may be new, but the prospective buyer will look at the frame and model and base their perceived price on the age of the bike. For insurance purposes the value needs to be for replacement of all the parts if you bought them new. The market would determine the second hand value. Difficult question this one... Link to comment Share on other sites More sharing options...
chris_w_65 Posted March 11, 2011 Share My opinion is that the value would be largly based on the year of the frame and not so much the extras so I would think not very much. Just my 2c Link to comment Share on other sites More sharing options...
chris_w_65 Posted March 11, 2011 Share My opinion is that the value would be largly based on the year of the frame and not so much the extras so I would think not very much. Just my 2c A guy who knows the new price on components may pay you relative to that but obviously used components are worth a lot less. In this case I don't think the guy would be prepared to add much on for the value of the "old" frame. Link to comment Share on other sites More sharing options...
The Drongo Posted March 11, 2011 Share You will get a better return selling components seperately. slickjay007 and Dicky DQ 2 Link to comment Share on other sites More sharing options...
Caerus Posted March 11, 2011 Share Speaking of the new bike... Where are the pictures...?!?! Quite keen to see the sprayjob!! In my opinion, if you do something like that, it is difficult to put a value on it. The parts may be new, but the prospective buyer will look at the frame and model and base their perceived price on the age of the bike. For insurance purposes the value needs to be for replacement of all the parts if you bought them new. The market would determine the second hand value. Difficult question this one... Ive had to delay the frame respray/ powdercoat(ran out of cash, damn mother in law coming to SA on holiday so got to send the wife to Cape Town) The forks are done, I pick it up this arvo so will post pics tonight. The forks came out superb, need to just add the decals this evening. Edited March 11, 2011 by Caerus Link to comment Share on other sites More sharing options...
Caerus Posted March 11, 2011 Share You will get a better return selling components seperately. Don't want to sell anything? Its purely for an interest and possibly now insurance sake. Link to comment Share on other sites More sharing options...
nuge Posted March 11, 2011 Share Don't want to sell anything? Its purely for an interest and possibly now insurance sake.insurance typically goes on replacement value - phone up your LBS and ask them what a similar setup (frame type/material, components and wheels spec) would set you back if you were buying new. should give you a fair idea. i know my bike is not worth much should i try to sell it (aluminium frame and most components second hand - only wheels bought new though on special - thanks cwc!) however if i needed to replace it with a similar level brand new bike it's probably going to set me back almost double what i spent which is what it's insured for. ultimately it's your call, but remember insurance companies will cover you for almost anything at the right price!!! anyway, hope that helps... Link to comment Share on other sites More sharing options...
Just Keep Pedaling Posted March 11, 2011 Share Some components hold value better (quality wheelset, frame) while others (drivetrain,tyres) are essentially consumables and they value is largely related to their wear and tear status. Link to comment Share on other sites More sharing options...
chris_w_65 Posted March 11, 2011 Share Insurance will be full replacement value. If the replacement is 10K but you only insure for 5K and then bend your wheels and try claim 5K for them they will only pay you 2.5K towards the wheels. Link to comment Share on other sites More sharing options...
Caerus Posted March 11, 2011 Share Insurance will be full replacement value. If the replacement is 10K but you only insure for 5K and then bend your wheels and try claim 5K for them they will only pay you 2.5K towards the wheels. I think about 10-12K would be enough for replacement value. Link to comment Share on other sites More sharing options...
ichnusa Posted March 11, 2011 Share it is never worth as much in cash as it cost you in upgrades etc... and furthermore, its never worth as much in cash as its worth to you as a spare bike or even a gift to a friend to get them started on the cycling thing. selling it in parts makes sense, until you are left with the frame or some other part you couldn't sell, and still short of cash... Link to comment Share on other sites More sharing options...
chris_w_65 Posted March 11, 2011 Share I think about 10-12K would be enough for replacement value. Are you sure? R11200.00 would get you a Silverback Spectra. SLX group - check the rest of the specs on their site to compare to your bike. Also remember, most dealers will give you 10% off but not to an insurance company, then they charge retail. Link to comment Share on other sites More sharing options...
Caerus Posted March 11, 2011 Share Are you sure? R11200.00 would get you a Silverback Spectra. SLX group - check the rest of the specs on their site to compare to your bike. Also remember, most dealers will give you 10% off but not to an insurance company, then they charge retail. So you think I've under or over valued it then? Link to comment Share on other sites More sharing options...
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