Is the 2nd hand market dead?

[Jacko18]

Is the 2nd hand bicycle market dead? Due to high and unrealistic prices. Which is no doubt due to new bicycle prices being so high for even low specced bikes. 

 

As well as disk being the mainstream now.  Rim isn't sure where it fits in. But 2nd hand prices still seem very very high. 

 

And are people perhaps paying these prices, because cycling is become ever more popular?  

[Nico van Loggerenberg]

I would say prices have come down in the last year. 

 

[Jacko18]

I've definitely noticed the opposite.  

[Nico van Loggerenberg]

There are now regularly dual suspension 29er mountain bikes for sale for R16-25k which was hard to find immediately post-covid. Perhaps there are other things happening in other parts of the market that I don't know. Inflation is pushing up prices across the board so maybe a knock-on effect. 

[MTBRIDER1234]

14 minutes ago, Jacko18 said:

I've definitely noticed the opposite.  

Talking from experience, I have to disagree.

The 2nd hand market 2 years ago was frankly insane. I sold 2 hardtail xc bikes within 2 hours of listing them, at prices that would now seem stupid. Bikes were going for thousands more than they were really worth due to demand.

Currently, the 2nd hand market has crashed. A bike I was selling, that would have gotten in the low 20k range 2 years ago took months to sell, and I ended up having to take 5k less than what it was really worth. I also know other people selling enduro bikes for 12k below market value struggling to sell them.

People are just not buying as many 2nd hand bikes, and certainly not paying stupid prices anymore. 

[RobertWhitehead]

Prices are definitely coming down. IMO one need to either adapt or try and hang on to the "over priced" stock until the market comes back alive (which in my opinion is not going to happen anytime soon with us moving into winter). 

This is actually a really good thing for cycling as a whole as most of the gravy train riders will get off at the next stop .

 

Again, this is my own opinion 😉

[Theunissa]

5 minutes ago, RobertWhitehead said:

Prices are definitely coming down. IMO one need to either adapt or try and hang on to the "over priced" stock until the market comes back alive (which in my opinion is not going to happen anytime soon with us moving into winter). 

This is actually a really good thing for cycling as a whole as most of the gravy train riders will get off at the next stop .

 

Again, this is my own opinion 😉

You are right. This is happening on all industies. Prices are going to be forced to drop. I see it all over

[Eddy Gordo]

I think the market has reached its plateau. Personally it is still a bit high. With our retail stock and pricing we stick to our marke up which at the end of the day is more than 50% cheaper than our immediate competitors. However we are still struggling for business and customers are still complaining about high prices.. Like wise with alot of other industries that friends of mine are in. I cant but blame increase in fuel and electric prices, coupled with loadshedding as well as general inflation. Those of you paying a bond and coping with the numerous interest rate hikes over the last 2 years, Hang in there!!

Anyway, I haven't shopped the used market in a while as the prices dont align with what I think the goods are worth. Look at the prices of some of the frames for example.

[Shebeen]

15 hours ago, MTBRIDER1234 said:

Talking from experience, I have to disagree.

The 2nd hand market 2 years ago was frankly insane. I sold 2 hardtail xc bikes within 2 hours of listing them, at prices that would now seem stupid. Bikes were going for thousands more than they were really worth due to demand.

Currently, the 2nd hand market has crashed. A bike I was selling, that would have gotten in the low 20k range 2 years ago took months to sell, and I ended up having to take 5k less than what it was really worth. I also know other people selling enduro bikes for 12k below market value struggling to sell them.

People are just not buying as many 2nd hand bikes, and certainly not paying stupid prices anymore. 

Supply and demand determine what something is worth in an efficient market. You've just described how you don't understand it.

Edited May 10, 2023 by Shebeen

[Jacko18]

7 minutes ago, Shebeen said:

Supply and demand determine what something is worth in an efficient market. You've just described how you don't understand it.

But just look at what a dual sus alloy 29er is going for these days.  And I'm not talking new models.  They are going for what dual sus 29er carbon bikes were going for 2 years back. 

 

Look at old carbon rim brake bikes.  With 10 speed. Going for 15 to 20k.  Not sure where you are shopping 

[IceCreamMan]

With the rand edging towards 25 to a pound, 21 to a euro, 19 to a dollar new prices are continuously increasing which should agitate the second hand market, although prices will also rise. 
 

 

[Pandatron]

A lot of people are putting up bikes at the high price for it and if you offer in some cases 15k less, they cave after a week.

 

Listed Price vs Actual Paid Price would be interesting

[Jakkals.]

I still see dealers selling second hand stuff, stripped of completebikes for crazy prices.

[Jacko18]

6 minutes ago, Jakkals. said:

I still see dealers selling second hand stuff, stripped of completebikes for crazy prices.

This is exactly what I'm saying.  The asking prices are insane 

[Nic Brigando]

It's a bit of a double-edged blade here. Some prices have gone up, some prices have gone down - in the last 2 years since Covid, no one is really sure what the price of bikes is. I've seen bikes selling here for 15k above what they were selling for 2 years ago, as well as bikes listed (and not selling) for 15k less than what they were 2 years ago. All depends on the bike I'd say.

[Cyclewizz]

35 minutes ago, Jacko18 said:

Look at old carbon rim brake bikes.  With 10 speed. Going for 15 to 20k.  Not sure where you are shopping 

Got to agree with you here, the asking prices are crazy (IMO). Notice that majority of it doesn't sell, 4 weeks go buy and the ad gets re-posted.

The well priced stuff (carbon rim brake with 10spd) for like R9k sell within a week or 2.

The interest rates have also had an effect on affordability, maybe the high end new market is different. Being in Winter the market also normally slows down but come Spring and with even more interest rate hikes on the way and the Rand tumbling there's probably going to be a breaking point.