True Value of Used Bicycles

Bicycle Hunter

I'd be very interested in finding out peoples open ions on used bicycles value!

I'd ask to differentiate between private sales and reconditioned bikes or store bought used bikes. bearing in mind that store bought are supposed to be serviced and road worthy while private sales are judged by the buyer on the spot with generally a no returns policy.

I understand that each bike would be different so to start I'm gonad post a pic of a bike to get the ball rolling, I'm hoping for replies in a the price is right manner. where everyone can have a stab at it. I hope other people might use this tread to value their own used bikes before advertising them.

Feel free to trow in your average for a decent conditioned MTB Hybrid Road, again it depends on the bike but lets take it from the basic low grade of these types of bikes.

I'd say €50MTB €100Hybrid €130Road on private sales and you could add €20 on to those figures when in a shop. This is providing the bikes are in good condition and have original or at least suitable parts.

I'd also like to hear any pointers for when buying a used bicycle as I'm hoping people might use this tread when considering a used bicycle, buying or selling.

Lumen

I posted this a couple of years ago in a thread about road bike valuations. It's just an opinion.

I've edited the age column as it wouldn't make any sense now.

The 50% depreciation in the first year seems harsh, but there were a lot of bargains available from the UK at the time due to exchange rate fluctuations.

Lumen wrote: »

The way I look at depreciation is that one day it'll be almost worthless, and it has to get there sooner or later.

I reckon a bike loses 25% as soon as it leaves the shop, then about a third of it's value each year, eventually converging on somewhere around 6% of it's new price*.

Here is my attempt at a depreciation model:

New price|€2,400|€1,000
Nearly new|€1,800|€750
1yr|€1,204|€502
2yr|€822|€343
3yr|€578|€241
4yr|€422|€176
5yr|€322|€134
6yr|€258|€107
7yr|€217|€90
8yr|€191|€79
9yr|€174|€72
10yr|€163|€68


This gives a price of around €320 for bike that cost €2400 new in 2004.

Obviously condition will vary the value somewhat.

Bicycle Hunter

I love the effort Lumen.
I think it's a very good guide to high end bikes that get high use but also get the best of care when it comes to servicing.
Will post picture this evening.

Bicycle Hunter

ps

I still think that a bike bought for 2400 will hold it's value at 200+ even at year 8 and beyond, depending on condition, but this would be a reflection on our used bike market not the true value.

nilhg

Has the BTW scheme had much of an effect on the secondhand market?

It would seem that it would make no sense for anyone eligible to buy a decent SH bike when they can buy new with the tax savings ( I'm presuming that if you want a bike at a higher value than the €1000, you can pay the excess yourself)? There must also be a fairly regular number of bikes bought through the BTW which are not used much coming on the SH market?

Presumably though the list price of new bikes rose when the BTW scheme came in, which would have steadied the SH market?

ednwireland

anything for sale is still only worth what someones prepared to pay for it, if you get no offers its worth nothing (a bit like property now) Nothing has an intrinsic value

Mycroft H

ednwireland wrote: »

anything for sale is still only worth what someones prepared to pay for it, if you get no offers its worth nothing (a bit like property now) Nothing has an intrinsic value

I'm inclined to agree with this, something is only worth what people will pay for it. It's nothing to do with 'market value vs true value', they are one and the same.

Lumen

BX 19 wrote: »

I'm inclined to agree with this, something is only worth what people will pay for it. It's nothing to do with 'market value vs true value', they are one and the same.

That's all very well, however for commodity items like mass-produced bicycles there are some fundamental drivers of price.

For instance, the older a drivetrain becomes the more difficult it becomes to source compatible parts. Not super-difficult until they get really old, but you need to know what you're doing.

Sentimentality aside, why would anyone pay the same for an old bike as a new bike, even if the condition was similar, when the newer bike is lighter, stiffer, has better developed components, etc etc?

Old bikes with "cachet" can defy the gravity of depreciation somewhat, but just because someone has a particular fetish for Armstrong-era Discovery Treks doesn't really make the bike "worth" a whole lot more.

I can pay a million quid for a rusty old Skoda if I choose to, but it's not really "worth" that.

funkyjebus

Sold.

reallyunique

I wouldn't pay as much for an old bike as a new one but I happen to like steel bikes and have no use for a super-stiff frame. I kinda fancy getting an older bike now just as I'm thinking about it. See, another bidder now for that old frame, pushing the price up further, dammit! Don't forget all the hipsters taking real bikes and turning them into fixies and adding a hundred to the price. Talk about less is more.

There is a floor price for bikes as they can be quite reasonable beaters, commute bikes etc where old but working parts are all that's required. I'd rather ride a 15 yr old bike for €150 than anything in Halfords or Argos for that price.

I like Lumen's table but I think you'll stop depreciating (or really slow down) at about €200.

Some of the stuff on Adverts looks waaaay overpriced based on that list though. In the end it's always worth what some fool will pay for it.

feck sake lads

my bike is 4 year old and i wouldn't sell the wheels for the price quoted by lumen those prices are off the wall.

Bicycle Hunter

It goes without saying that something is only worth what people will pay for it! but I was hoping that this tread would act as somewhat of a guide to used bike buyers. So they dont get ripped or can spot a bargain when theirs one to be had. Also so seller dont over charge with the beleave that they have something thats worth more than it is.

I think it's easier to price a new (10year) used bike.
Any thoughts on older bikes that dont have an antiqe or classic appeal? a bike thats been around the block and will still get you around too.



Any thoughts on this bike

Lumen

reallyunique wrote: »

I like Lumen's table but I think you'll stop depreciating (or really slow down) at about €200.

Yeah, I don't know why I didn't level it off around there. Maybe there was something more in the original thread, can't be bothered to search for it again!

feck sake lads wrote: »

my bike is 4 year old and i wouldn't sell the wheels for the price quoted by lumen those prices are off the wall.

At the time I posted it, it seemed plausible. Though those prices do look a bit harsh now.

I've sold several bikes that have depreciated badly. A cyclocross bike lost something like 40% of its value immediately - it had only been ridden a handful of times.

How much would a 9sp dura ace superbike from 2004 cost then and now? I have no idea.

Lumen

Bicycle Hunter wrote: »

Any thoughts on this bike

It's horrible.

€50? If it works.

To me it's worth zero. I'd rather walk.

triggermortis

Quite a horrible bike in all honesty. Like Lumen said, I'd rather walk too

Bicycle Hunter

Lumen wrote: »

It's horrible.

€50? If it works.

To me it's worth zero. I'd rather walk.

I'd be inclined to agree, but then I have many bikes.
would you say €50 if it was behing sold by a shop that stood behind it if it fell apart after a month?

Bicycle Hunter

hears a 2011 road bike according to seller

Bicycle Hunter

Come on lads I'm looking for suggested prices here.
The appolo slant bike/toy was selling for €60 from a shop, will post the the asking price of the specialised tonight. Please dont cheat and look up the ad.

copacetic

Lumen wrote: »

I posted this a couple of years ago in a thread about road bike valuations. It's just an opinion.

I've edited the age column as it wouldn't make any sense now.

The 50% depreciation in the first year seems harsh, but there were a lot of bargains available from the UK at the time due to exchange rate fluctuations.

I don't think that's correct at all, from about 3 years to 6 years I think prices on more expensive bikes stay pretty constant.

I.e they depreciate a lot to begin with but then for 3 years they are close to newer spec bikes in performance but much cheaper and also much better value than new bikes.

Eg a nice 1k hybrid will probably be worth 250 after 3 years according to your model, (which is probably wrong here too) and assuming it is in good condition will still be worth 250 for another 4 years after that.

I'd actually say the lower ceiling on a bike like that is 300-350.

Lumen

copacetic wrote: »

Stuff

Blah blah blah. I'm only prepared to discuss this if you post your own table of suggested values.

:pac:

snollup

Bicycle Hunter wrote: »

hears a 2011 road bike according to seller

... If an entry level Spec' I would imagine about 6-700. Would really need to know model & spec.