how to determine price of second hand bike

[reteid]

Hi there. A friend of mine has asked me to sell her bike on her behalf. How do you determine what would be a fair price?

[Tandemuis]

29 minutes ago, reteid said:

Hi there. A friend of mine has asked me to sell her bike on her behalf. How do you determine what would be a fair price?

What did the bike cost when new? How old is the bike now? How much is the newer model? Any upgrades made? Services done? How is the paint job? General wearing of parts? How much are similar bikes going for secondhand in shops? Does the bike come with extras?

[RobertWhitehead]

1 hour ago, reteid said:

Hi there. A friend of mine has asked me to sell her bike on her behalf. How do you determine what would be a fair price?

Post some pics and allow the community give estimates. 

[Marcv]

My rule of thumb which has worked out in various hobbies is start with the new price and halve it, this is mostly on items that are 3 years + old. Then adjust for age, quality, brand etc etc.

 

[100Tours]

I try to use a 'sum of the parts' approach.

E.g.

- is the groupset 9s, 10s, 11s - a good condition 11s groupset is worth R8k to R10k, Di2 is worth R15-20k, 9s is worth maybe R2k

- Are the wheels stock or high-end. R2k-3k for stock wheelset, R10k+ for carbon

- is the frame particularly special. Aluminium - maybe R2k - R4k, Carbon R10k or more.

- are there any special/costly components on the bike (carbon saddle, integrated bars, etc.). Carbon seat +R1k, Integrated carbon bars + R4k-R5k

Then have a look at how this compares to the other as on the hub and see if it feels about right.

Edited December 13, 2022 by 100Tours

[FirstV8]

1 hour ago, Marcv said:

My rule of thumb which has worked out in various hobbies is start with the new price and halve it, this is mostly on items that are 3 years + old. Then adjust for age, quality, brand etc etc.

 

I use a similar method of  60% of current price if condition is good and age is not a factor . This allows for negotiation by buyer .I have various interests that i apply it to and it works for me . Go to to your LBS and ask for a outright purchase price ( no trade in ) from them and you will get a figure that you can then adjust to the 50I60% mark . 

[dave303e]

if you go by the classifieds- thumb suck a big number hard and hope for the best. One bike is a 2020 model that is for sale for 82% of the 2023 model's price. Even though it has been raced hard for 2 years and not even cleaned properly for the photos

[Hamstring]

https://www.bicyclebluebook.com/