TLetlhatlhe Posted December 2, 2015 Posted December 2, 2015 Ok, I'm new to cycling and have a colleague who is constantly telling me that the 2nd hand bikes I'm interested in are overpriced. How does one know what the price of a second hand price be? On average, how much does the value depreciate per year used? Is it dependant on how much the technology has advanced since the bike was being manufactured? If a bike is say 10 years old, and when it was bought back then, cost +/-R30 000.00, how much should it cost today regardless of condition? Or does the condition play a big role in setting the price? I've attached a pic of a bike I've always wanted to ride but it is ten years old and the seller wants R11 000.00. I'm not sure if this is a reasonable price or not. Please help peeps.
TLetlhatlhe Posted December 2, 2015 Author Posted December 2, 2015 Oh and I'm also not sure if this price is negotiable or not, I haven't asked the seller yet.
eddy Posted December 2, 2015 Posted December 2, 2015 It is a longer answer than I have time for now, but will respond in more detail later. However, R11 000 for that bike is far to much.
TLetlhatlhe Posted December 2, 2015 Author Posted December 2, 2015 Phew! Almost blew my December bonus on it. Thanks, I also have to be somewhere else now. Can't wait for some responses which might help me in future purchases.
nolipoli Posted December 2, 2015 Posted December 2, 2015 Hmmm, the answer is not a simple one, especially when looking at that particular bike. Nicolai is a serious boutique brand, and will always command a higher price than a similarly specced equivalent from almost anyone else. I love Nicolai bikes, but wouldn't spend 10K on that one (Maybe 6?) As you are new to cycling, have a look for better value bikes until you get more comfortable with the market. Great brands to look at are Giant, Silverback, Scott, and maybe Specialized for the right bike.
Brickleberry Posted December 2, 2015 Posted December 2, 2015 You can get way better value for your 10 grand on the hub. I would not recommend buying that.
Brickleberry Posted December 2, 2015 Posted December 2, 2015 According to the model some use of Half of original price, less 10 percent per year it's aged, this bike is not worth much at all. But I'm not saying that is the correct way to value it, just the way that some hubbers do
nonky Posted December 2, 2015 Posted December 2, 2015 According to the model some use ofHalf of original price, less 10 percent per year it's aged, this bike is not worth much at all. But I'm not saying that is the correct way to value it, just the way that some hubbers do Jeepers! By that calc, a ZAR50k bike is worth ZAR22,500 after a single year? That's a bit hectic...
TLetlhatlhe Posted December 2, 2015 Author Posted December 2, 2015 Nope Nonky, it would be R45 000.00 by my calculation. 10% of 50k is 5k;)
Cav' Posted December 2, 2015 Posted December 2, 2015 Nope Nonky, it would be R45 000.00 by my calculation. 10% of 50k is 5k;)He said half the original price less 10% per year, read again.
Brickleberry Posted December 2, 2015 Posted December 2, 2015 Ya as I said, it's not my calc, just seen it thrown around here a few times. My old road bike was 14k new in 2011. And I got 5 k for it this year and couldn't get a better offer and it was in great shape, so it's not totally off.
Brickleberry Posted December 2, 2015 Posted December 2, 2015 Jeepers! By that calc, a ZAR50k bike is worth ZAR22,500 after a single year? That's a bit hectic...Remember it will be a 50k bike with zero warranty? I wouldn't be too fast to pay 40k for it, when I have no cover if something went wrong
Beefy Posted December 2, 2015 Posted December 2, 2015 According to the model some use of Half of original price, less 10 percent per year it's aged, this bike is not worth much at all. But I'm not saying that is the correct way to value it, just the way that some hubbers doI have heard this as well. Bikes are not financial instruments.
TLetlhatlhe Posted December 2, 2015 Author Posted December 2, 2015 Damn, the world of cycling is brutal isn't it. Had bought a 2014 Zaskar Sport last year before it got jacked. So that bike would be +/-R5000.00 today depending on how often I rode it? So, if I insure it and it got stolen or irreparably damaged after 3 years, I would consider myself lucky(insured price not the same as resale price). Bikes are worse than cars then when it comes to holding up their value. Wouldn't be so into it if it weren't so flippin' enjoyable;-)
TLetlhatlhe Posted December 2, 2015 Author Posted December 2, 2015 He said half the original price less 10% per year, read again.Didn't think it could be this bad.
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