Valuing Used Bikes

Skyguy9999 · 10-05-2008, 12:52 AM

What rules do people use to determine how much to try and sell a used bike for, in terms of its worth?

Alex Ramon · 10-05-2008, 04:50 PM

That's a good question. Most bikes lose a lot of value once they leave the shop (just like cars). Other factors include how much wear, how old the bike is, what quality level of components it has, etc... some bikes will look rough but actually be worth something, while others can look brand new but not be worth much at all.

If you have a bike in mind, you could post a pic here and get everyone's opinion on it.

Aushiker · 10-06-2008, 01:06 AM

G'day

Timely post. The following rating was suggested in recent post to the Bicycle Network Australia forums. "For items, depending on how hard its life has been. Between 50% to 75% of its retail price if its been treated nice with little work. Hard Life, 50% max."

Regards
Andrew

DaveM · 10-06-2008, 01:52 PM

Despite what's going on in financial markets the last few weeks, a basic rule of capitalism still applies: a thing is "worth" whatever someone is willing to pay for it. Look for similar bikes on eBay and craigslist to get a sense of what people are willing to pay.

Skyguy9999 · 10-10-2008, 04:34 AM

That is definitely a well-known thing that I keep in mind. At the same time, it's not good necessarily to sell something for $10 if you could get $100 out of it. So it's good to get some idea on it - I find though that it's hard to find similar bikes on ebay and Craigslist, so I never know for sure. I know what I'm willing to take though on a bike, but whether the expectation on it is right or not is another story.

That given, I was asking this because I want to get rid of a couple of the "project bikes" that I've picked up. I kind of have limited space, and for what I can ride (only one of me) they've outlived their usefulness to me (all stuff fixed up on them, mainly - they've been good for instructional tools to help me learn and did that function wonderfully).

1) A Huffy 18 speed woman's bike, 24". I would say the parts are mostly in very good condition at this point. Was very smooth when I was test-riding it after I got it all cleaned up and working.

Off-Topic story: The next door neighbor thought the brakes were broke and was going to throw it away - offered it to me though and I <a HREF="http://bikeride.com/adjust-v-brakes/">fixed it up</a> enough to start riding it within an hour. Another good testimonial for Alex's work on this site.

2) A Roadmaster 15 speed man's bike, 26". Kind of a scrub bike when I got it, still is (reference the <a HREF="http://forums.bikeride.com/topic/90#post-274">cheap shifter thread on here</a> to see what I mean). But is rideable.

gusk · 10-28-2008, 08:40 PM

exactly.. it is what the market is willing to pay.

[brokenlink]

For a bit of background. Cyclops are like the Huffy's (or maybe to be kind Schwinns) of Australia. Not even Shimano components most of the time.

At the recent council cleanup I picked up a 5 speed one like this with better paintwork that is cleaning up nicely.
gusk

Aushiker · 10-28-2008, 08:49 PM

G'day

Did you see the price that Cyclops went for? Amazing what some good photos, and a lick and a polish will do.

Andrew

gusk · 10-28-2008, 08:52 PM

Yes, my point.. $900 (which is about $US1700 at the moment!!)

I am kind of hoping my wife doesn't want to ride the blue one I found.. with some new cracks, chainwheel, brakes (which you can get Cyclops ones in Kmart for $8 a set) and, of course, a new basket... should see me with enough workshop beers for summer.

goodonya.
AK