Determining the value to sell your second-hand bike at…

[Shebeen]

There's a serious assumption being made here, that the advertised price is the actual final selling price.

 

OP, don't worry a bunny rabbit doesn't die each week an 'overpriced bike' sits on thehub without being sold. In fact no one gets hurt. It's an efficient market, leave it be.

[Solstice]

why is this thread still running? #curious

[Patchelicious]

why is this thread still running? #curious

Because Sagan said it must

[droo]

Really depends on the brand, certain brands hold the value better over time than others.

 

Certain models also are a favourite in South Africa and dont decrease in value as much.

 

Heaven forbid you want to sell a 26er for more than R4000

 

Oof. Nevermind flamed, you'd be set on fire.

 

Fortunately there are those that know it's about stoke, not hype. (No reference to my shop intended...)

[eddy]

 

Eddy,I am not being sarcastic.. I promise, I don't know how you get to that number, how old is the bike, what was the purchase price?

 

Apologies, I was being sarcastic and i had sucked the number out of my thumb.

 

Doing the full depreciation calculation, i get to R 121.5766

 

The frame will have it's 20th birthday soon .....

[Grebel]

Willing seller willing buyer. A bike that is worth R10k may sell for R15k this week because there is someone that sees that value and is willing to pay that price this week. Advertise the same bike next week and it won't sell because the buyer is not there at that price.

 

Supply and demand. If the demand is there the item will sell. Simple as that. Advertise for what ever you like. Don't let someone dictate what your item is worth. It all squares up at the end of the day. If you as a buyer think the price is too high then make an offer. If it is rejected, move on.

[pacific gtr]

Anything you sell is worth nothing unless you have a willing buyer to buy it

[MELVYNR7]

I don't have a good idea of the discussion on the matter here but I buy and sell with a totally different goal in mind. When I started a year ago we were two cyclists, now we are 7. The profit to me is the expansion of the sport and more healthier community. Just thought to share that.

[DJR]

When I'm buying, my rule of thumb is 30 - 40 % off the price the bike cost new, and a further 10% on that figure, taken off for every year over 1 year. (Something like this: R30 000 - R9 000 = R21 000 - R2 100 = R18 900 for a 2 year old bike) Desirable well looked after bikes get the 30% treatment. Less desirable, well used bikes get the 40% treatment. That is where I start negotiating with the seller, so I'll end up paying somewhat more. My 2c

[JGR]

Replacement cost hasn't been considered nor has inflation. As an example - there is a second hand car dealership across the road from our offices. Now some of the prices I see on cars like second citi golfs ect are higher than when I was a student considering cars in that range. At this rate the money you get from a bike that's a few years old is enough to pay for a race entry and boerie roll today .

Edited July 15, 2014 by JGR

[Spinnekop]

I have a very weird outlook on this......I try and sell my stuff at 40-50% of what I paid for them. And I have NEVER sit with an item for longer than a day.

That said, I am privilidged to earn a salary and able to buy a thing or two every now and again and LOVE to help other guys starting out getting still "like new" nice goodies for half the price. I had a couple of guys in my cycling history that helped me that way and I will never forget how it felt.

[G--thebus]

Had an interesting talk I heard about brand that is relevant to this thread;

The bottom line is that marketers are absolute bullshitters and lie about the value that should be attached to a brand.

We all suck it up and pay completely over the top for this perceived differentiation....the real stuff up arrives when two weeks into having bought that super hot bike for R110k+ something breaks just like it would on a R15k bike. At that point you wake up to the fact you have just been scammed for about R60k in marketing bull.

 

No just what does your wife want with buying that pair of True Religion jeans for R6k? ......same thing.

[Cyklon]

Make your own price and make an offer .... seller will decide

[ValeYellow]

interesting, a friend of mine sold his MTB a week ago. A Schwinn Moab 26er HT. He got the bike new in 2000, and paid R5500.00 for it. He sold the bike "as is" (which means it had flat tyres, a very very dry drivetrain, etc..) for R1000.00.

 

If he applied this formula to derive at an asking price, he should have realistically got R630.00.

 

When I asked him about the exact purchase price, he was a littl unsure, it was a gift from his parents, but it was around the R5500.00 mark.

 

So, give or take a few hundred randelas here n there, the formula is pretty close in my mind, for an entry level bike though. I think once you are talkingabout the higher end, to top end bikes, I have my doubts.

Edited July 15, 2014 by ValeYellow

[Patchelicious]

Had an interesting talk I heard about brand that is relevant to this thread;

The bottom line is that marketers are absolute bullshitters and lie about the value that should be attached to a brand.

We all suck it up and pay completely over the top for this perceived differentiation....

If you buy into it, why are you blaming the marketers?

[Nickzta]

no ways am I depreciating a 12 month old bike by 50% - you are smoking your epo!