Is selling on the classifieds becoming more difficult?

[Matt]

We'd obviously be interested in the outcomes and feedback here. From our observations it seems there are a few possible factors: 1) budgets are under pressure generally affecting appetite to buy (new or used) 2) sellers are listing at inflated prices 3) pricing on new bikes is increasingly aggressive which erodes resale value

On the trust side I'm sure this plays a part. It's something we're working on aggressively.

[ChUkKy]

 

 

I do agree though that a tendency to low ball has crept in. Every time I open an add I get a flood of messages at ridiculous times, not one of them saying 'hi it's Mark/John/Peter here..' just saying 'I will give you 800 bucks'... Well no 

 

This is because they watch too much discovery channel Pawn Stars and all those other shows where they buy and sell.

[ChUkKy]

Lets say I had an item on for R1500, Ive had an idiot come and at the last minute say Ive got R1000 cash.

I told the bastard that the R1000 cash is fine and Im happy to accept the balance as EFT.

 

Didnt hear from him again.

 

The scum soon leave you alone

[Vetplant]

This is because they watch too much discovery channel Pawn Stars and all those other shows where they buy and sell.

This.

 

Plus they do get the odd seller that bites, so makes it worthwhile to try it.

 

Know a guy who had cash on hand during the Property "crash" ("correction" is probably more correct) around 2009 and he wanted a seaside property. He sent offers to 20 property listings in the sub R10Mil price bracket, offering half the price. Around 50% of people replied with a "let's discuss your offer".

[MTB-More]

What I have noticed though is when selling something if its not a buy of the year people in general is not interested. 

 

Eg. I have a PRC Carbon seat post 27.2 that's new almost 3k. Even at 1.5k negotiable no one is interested in it. I see quite a lot of carbon seat posts even at R750 just sitting around not being bought and these are quite expensive items new.

 

I think budget related people will buy only when it reaches that once in a lifetime deal price point hence the i will pay 10% of new price offers.

 

I find myself recently asking "Value vs Offering" questions a lot. R18 for a pack of Simba chips is just crazy considering R15 for Flannigans currently was quite expensive less than 3 months ago as an example.

 

I don't think the bike parts we are paying new is worth the value. R2200 for a 11 speed cassette for instance. New prices of items are over inflated by quite a large margin and its just pulling the 2nd hand market with it and people cant afford it

 

Why buy a 2nd hand cassette for R1500 in like new condition when less than 8 months ago you bought a new one for R800... the dynamics just doesn't make sense

Edited May 16, 2018 by MTB-More

[Grease_Monkey]

The problem is that people want near new prices for their second hand stuff, and buyers want to low-ball the crap out of sellers.

 

Just be realistic as a seller, and you will sell your stuff relatively quickly. Be lekker as a buyer and don't try low-ball people. If you apply that logic the classifieds become a pretty good place to buy and sell.

 

Sellers: remember your second hand stuff does not come with a warranty, and the "new" price is not relevant at all - by the time you are selling it the item is probably marked down by 40% in stores anyway - so chech what it sells for now and go from there. I have seen items in the classifieds listed for more than what I can get it in the shops - so don't take it personally if people then low-ball you.

Edited May 16, 2018 by Grease_Monkey

[Traveler]

I have now twice tried to buy a small 26'er on the Hub for my son, both times suddenly the seller experienced seller remorse or something, and the price jumped because they felt they did not do their initial homework.

 

On the selling side, I always offer my stuff at prices which I will be comfortable to pay for them, and I have been swamped by enquiries and then they just go quiet after asking and pushing 300 questions. I actually just took all the smalls I wanted to sell on the Classifieds and threw it in our recycling skip at work.

Edited May 16, 2018 by Traveler

[Kalahari Vegmot]

These two certainly need a mention...

 

https://www.bikehub.co.za/classifieds/164052-mtb-fork-tange-1-chrome-moly-26/

https://www.bikehub.co.za/classifieds/307315-giant/

 

Most sellers are seriously unrealistic with their pricing.

 

If I see a reasonably priced item that I want, I won't even try and haggle the guy on price. But rarely do I see such an advert.

 

On a side not, who, like me, gets seriously annoyed with ads that say ''BARGAIN'' or "PRICE DROP"?

WE DON"T CARE!!

[JuliBoB]

I think currently the market is also a bit flooded with good secondhand bikes. Seems the extensive new tech developments of late, like Boost hubs, slacker Geometry for XC bikes and wider rims - bigger wheels, has all played a role in more and more people wanting to upgrade. Recently sold my Trek Superfly FS 2012/13 model for a "Appel en 'n Ui!!!" After already going into the sale and posting the add way below what some people are advertising the same type/models for. It was in a great condition and well looked after, etc. Had over 400 views and only two possible buyers, where the one gentlemen indicated he loves the look, state, components & wheels on the bike, however the HT angle is just too steep and a bit outdated compared to the new Geometry trends. Could be an Isolated incident, appreciated his honesty, BUT I feel more and more people tend the want to pay for a more modern tech bike. Oh and ended up selling to a big secondhand dealer.

 

Some people are also taking chances with their asking price, way too high and just silly. As mentioned in earlier post, some sellers also add the sentimental element to the asking price, which pushes their price up.

 

I feel the current “tech development fueled consumerism atmosphere” supply is kind off outpacing the demand in the market, especially in and around Western Cape, Gauteng and KZN.

Edited May 16, 2018 by JuliBoB

[M L]

The problem is that people want near new prices for their second hand stuff, and buyers want to low-ball the crap out of sellers.

 

Just be realistic as a seller, and you will sell your stuff relatively quickly. Be lekker as a buyer and don't try low-ball people. If you apply that logic the classifieds become a pretty good place to buy and sell.

 

Sellers: remember your second hand stuff does not come with a warranty, and the "new" price is not relevant at all - by the time you are selling it the item is probably marked down by 40% in stores anyway - so chech what it sells for now and go from there. I have seen items in the classifieds listed for more than what I can get it in the shops - so don't take it personally if people then low-ball you.

It would be really interesting getting the opinion of very frequent traders on the classifieds such as SteveO:K, cause I really am of the opinion that trust issues, time wasters and too expensive items are not necessarily the biggest reasons for slower than usual turnaround times when selling items. 

 

It really does seem as if people are less inclined to make impulsive upgrade purchases, becoming more discerning with their disposable income and looking around for a bargain when they do decide to upgrade. 

[MTB-More]

One suggestion I might add to the Classifieds is could we potentially add a option where you select Wheel Size and Frame Size to ask "Frame Material" as I tend to look at ads and think nice bike in my budget then go into the add to see... Allu frame... next

 

Not related but it would help some of us focus on what we are looking for considering we have Allu or Carbon now as mainstream options as well

[Cyclewizz]

I'm keep an eye on the classifieds.

 

Since I joined the hub many years ago things have really changed.

Back then road stuff was a lot more and there was a lot of it.

These days it's MTB stuff. Road stuff is more limited.

 

When goods are price right they sell quickly.

 

For me negotiating has always been part of the hub.

There have been times that the seller accepts a low ball offer, other times they get pissed off.

All part of the fun.

 

Some people might be holing onto their penny's but my gosh did I see plenty of R100k+ bike at the 100 Cycle Challenge.

[lenzman]

MTB's don't retain their value and I have learnt this with each build.

 

Guaranteed to recover 50% of your spend if you sell within a year from purchase date.

[HDW]

That is funny enough not the case for me. 

 

I feel that some items you really can't even ask a fair second hand price. But then you get items such as shimano brakes that sell very easily at prices close to the new product. Even older shimano XT and SLX brakes sell for prices that you would have paid for the new item, 3 years ago. 

 

True, I think this has a lot to do with perceived value of an item. Especially very popular products like XT brakes.

Edited May 16, 2018 by HDW

[Hackster]

I don't sell enough to know whether things are becoming harder to sell.

 

But when I have sold items that were still for sale new at the time, I worked on the 40% rule as a rough guide and those items seemed to move quickly.

 

I've also always looked at the competition first, if everyone is selling a 26er frames for between 1 and 3k, then there's little point in being the guy selling one for 5k.

 

What I have realised is that I have a fair amount of kit that's actually not worth selling. One of these days I'm going to put it all in a box and take it to BEN.

[Mongoose!]

_{Difficult yes. Newish bikes more that R50K  looks impossible as I see it}