Expensive hobby!
Discussion
I bought a rather nice Ducati 999r from an un-named pistonheads member last year. It is an awesome bike, and is due back from its 2 year service tomorrow. I bought it with just 500 miles on the clock (at almost 2 years old), and it is now on about 1050 miles. In two years, the costs are pretty amazing....
Purchase price about £20k, value now about £11k, so depreciation £9k
Extras - 57mm Leo Vince system, power commander, dyno time, some other extras. About £2k, no extra value now.
Insurance - I pay about £900 a year (2 yrs no claims, 9 points) so about £1500 in insurance.
Servicing - I've just paid £700 for 2 year service (belts changed, more mapping and dyno time, suspension set up), and that was at a well respected independent with a labour rate of about £30 an hour. Main dealer would have been 50% more.
Lets ignore the costs of fuel and tax. Between me and the first owner, it has cost around £13k to run for 1000 miles.... £13 a mile.
Ouch. Expensive hobby this. I intend to keep it though (and want to get a 916SPS to go with it) so hopefully it'll cost me a bit less than £13 a mile...
Purchase price about £20k, value now about £11k, so depreciation £9k
Extras - 57mm Leo Vince system, power commander, dyno time, some other extras. About £2k, no extra value now.
Insurance - I pay about £900 a year (2 yrs no claims, 9 points) so about £1500 in insurance.
Servicing - I've just paid £700 for 2 year service (belts changed, more mapping and dyno time, suspension set up), and that was at a well respected independent with a labour rate of about £30 an hour. Main dealer would have been 50% more.
Lets ignore the costs of fuel and tax. Between me and the first owner, it has cost around £13k to run for 1000 miles.... £13 a mile.
Ouch. Expensive hobby this. I intend to keep it though (and want to get a 916SPS to go with it) so hopefully it'll cost me a bit less than £13 a mile...
A good friend of mine lost a similar amount on the purchase and sale of firstly a 996R then he had to have the 998R when it first came out .
I hated him for buying them , because both times he first rode out with us on them, each bike needed roadside repairs / recovery and it buggered up a good ride out , we started going out without telling him shortly after.
I still recall trying to bumpstart the 996 on a Sunday morning at Box Hill , you can imagine the comments he was suffering there
I hated him for buying them , because both times he first rode out with us on them, each bike needed roadside repairs / recovery and it buggered up a good ride out , we started going out without telling him shortly after.
I still recall trying to bumpstart the 996 on a Sunday morning at Box Hill , you can imagine the comments he was suffering there
Ouch indeed.....but you could use it a bit more which will bring the £/mile rate down....
However, with a Duc it's not the service costs that I feel are the problem, as this goes with the territory, like a Ferrari etc., but it's the chronic depreciation that affects the overall costs so much.
This was one of the reasons I decided to get a new Harley instead of another Duc....Harley's have such a low depreciation rate in comparison.
However, with a Duc it's not the service costs that I feel are the problem, as this goes with the territory, like a Ferrari etc., but it's the chronic depreciation that affects the overall costs so much.
This was one of the reasons I decided to get a new Harley instead of another Duc....Harley's have such a low depreciation rate in comparison.
I feel your pain, clarkey! You still have a phenomenal bike, though which you are very lucky to own. I'm sure comments have already been made on another thread about the value of 999R bikes now that the 1098 is out - I'd be pretty gutted if I'd shelled out the best part of 20k for a 999R when the 1098 comes in at 11k (albeit in standard trim). I'm curious to know what will happen to stocks of remaining 999R bikes now - is there anyone out there who would buy that over a 1098S? Just curious . . .
gethyn said:
I feel your pain, clarkey! You still have a phenomenal bike, though which you are very lucky to own. I'm sure comments have already been made on another thread about the value of 999R bikes now that the 1098 is out - I'd be pretty gutted if I'd shelled out the best part of 20k for a 999R when the 1098 comes in at 11k (albeit in standard trim). I'm curious to know what will happen to stocks of remaining 999R bikes now - is there anyone out there who would buy that over a 1098S? Just curious . . .
There shouldn't be any stocks of 999Rs as they were a limited run, sold over the internet in just a few minutes IIRC (Or am I thinking of 998Rs?)
Edited by rsvmilly on Thursday 25th January 12:04
In my experience of owning two Ducatis now they don't need much more workshop time then a jap equivalent.
I'd also say that depreciation is only really applicable on the R models as they are so bastard expensive in the first place.
Take a look at 748/916 prices - then look at the age of them and then look at similar Jap bikes. You'll see that jap bikes are approaching junk value while the duc's are still pretty expensive. I.e. they hold their price quite well.
I'd also say that depreciation is only really applicable on the R models as they are so bastard expensive in the first place.
Take a look at 748/916 prices - then look at the age of them and then look at similar Jap bikes. You'll see that jap bikes are approaching junk value while the duc's are still pretty expensive. I.e. they hold their price quite well.
g_stacey said:
Its not that I cant afford a Ducati. But if you spend 10-20 grand on a Ducati why should it need more servicing and attention than a £8000 bike? Somebody please tell me.
Same arguemnt for cars such as Ferrari's, Massa's, Aston's etc....
Ducati have now to be fair to them, from this year's 07 range, they have redesigned most of them to reduce the service required by 50%...supposidly.....
So, the new 1098 should be A LOT cheaper to own than it's predeccessors.......although I'm sure the thing will still depreciate at the same rate as if you chucked it off Beachy Head....
clarkey said:
Lets ignore the costs of fuel and tax. Between me and the first owner, it has cost around £13k to run for 1000 miles.... £13 a mile.
Ouch. Expensive hobby this. I intend to keep it though (and want to get a 916SPS to go with it) so hopefully it'll cost me a bit less than £13 a mile...
Yes but it's a nice bike isn't it?
The depreciation on my 916 has not been too bad, paid £9,500 for it nearly nine years ago, probably worth about £3,500 now but I have also bought a lot of 'upgrades' (Marchesini, Ohlins, Carbon Fibre etc). On the plus side my insurance is less under £300 ('coz I'm old) and my servicing has not been too bad.
Still an expensive 'hobby' but it's only money, you can't take it with you and you can always make some more..........
I can't remember if the 999R was sold on the internet only . . . I know a couple of recent Ducatis have been though. It's just that I saw a brand new 999R in a dealer over Christmas parked next to the new 1098S and I'm just wondering if anyone will buy the 999 over the 1098 or if the dealer will be stuck with it/discount it . . .
hiccy said:
How about buying a 999R in, ooooh, about 5yrs time for around £5k with zero depreciation?
Edited by hiccy on Friday 26th January 07:56
Great idea......just make sure you get a good one or that 5k will become 10k because you have had to fix it because someone has stinged on looking after it properly.......
However I'd still be surprised if you could get a nice R for 5k in 5 years time though...
hiccy said:
I must be poor or something: £9k depreciation in a year would drive me mad; I'd sit and think about all the things I could buy for £9k.
How about buying a 999R in, ooooh, about 5yrs time for around £5k with zero depreciation?
How about buying a 999R in, ooooh, about 5yrs time for around £5k with zero depreciation?
Edited by hiccy on Friday 26th January 07:56
I agree with you, I wouldn't lose £9k in a year in on a bike - I'd be surprised if I lose much more than £500 a year on it.
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