Valuing a 2nd hand bike
Discussion
I have been offered a TT bike second hand. I don't have all the details yet but in general, how do you value a bike? For a car, it's easy - look at Glasses guide or have a trawl through the Trader. But where do you start with a bike?
This could be academic however, as my wife may well remind me that we are saving up for a new kitchen.
Steve
This could be academic however, as my wife may well remind me that we are saving up for a new kitchen.
Steve
The "rule of thumb" is massively flawed though.
Buyers always quote it because it offers them good value for money but sellers will argue that it doesnt take into all the variables that make some bikes more valuable in the second hand market compared to others.
I use previous listings on ebay as the guide price then take into account the individual bikes condition, upgrades, value new, factor in the "niche" factor such as is it a TT/track bike?, does it have some special factory component fitted at factory or proprietary technology etc etc
Buyers always quote it because it offers them good value for money but sellers will argue that it doesnt take into all the variables that make some bikes more valuable in the second hand market compared to others.
I use previous listings on ebay as the guide price then take into account the individual bikes condition, upgrades, value new, factor in the "niche" factor such as is it a TT/track bike?, does it have some special factory component fitted at factory or proprietary technology etc etc
richardxjr said:
Rule of thumb is half RRP after a year, then a further 10% off residual value per year.
Nope. On Ebay, then tend to go for more than that. Planet X Pro Carbon is an easy example as it was £1000 new. Expect older 10sp bikes to go for £600 ish and some will still go for more than that and the 11sp bikes could go for £800+.Based on your logic, you could go and buy a 2014 Cannondale SuperSix Evo for £750 and I can tell you right now, that just won't happen. More like £1100 and some will go for £1300 even though you can get a 2015 bike for £1350 if you know where to look You might be able to get older 2013 spec bikes for £650, but the groupset will be low spec like Tiagra.
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