How are we finding the used market?

[wafter]

While I still see a lot of cyclists about I get the hunch that the corona-driven cycling frenzy has largely died off; with the summer drawing to a close, nights getting longer, many back to work, money getting tight for lots of people and (I'd guess) those who had the itch already having had plenty of time to scratch it.

I've been trying to sell my ofo for a while with no joy (admittedly at the higher end of the price range but it's been tweaked a fair bit and isn't outside the range of used standard offerings), while there seems to be a lot of low-mid range stuff on FB marketplace that isn't shifting. From ebay "completed listings" searches the market for vintage stuff seems to be pretty stangant. I've just taken a look at used Genesis Croix De Fers on there; being shocked to see a number of earlier models changing hands for as little as £240, and more commonly £300-400 recently, while these seemed to have a floor of about £500 a few months ago... although admittedly prices seem to be somewhat all over the place.

What are your experiences of the used market - are prices still high and demand strong, or are we starting to see interest waning?

 

[Drago]

Is it a bird?

Is it a plane?

No, its @biggs682 !

 

[All uphill]

I'm waiting patiently, looking forward to brightening up my January with a bargain bike.😁

 

[DCLane]

Budget stuff is slowing, top end bikes aren't selling well - I got about £250 less than I'd expected for my NeilPryde and similar top-end bikes are struggling to reach reserves. Vintage bike sales have definitely slowed significantly. Asking prices haven't moved down yet though.

Parts prices are selling much higher in my experience, although most I've sold are being shipped to Europe rather than just in the UK.

 

[Rusty Nails]

I volunteer at a community bike workshop where we sell refurbished donated bikes - anything between £50 and £250. Through the summer demand was ridiculously high and we couldn't fix enough bikes in the time available so had to limit the numbers coming to our weekly sale.

Demand is still slightly higher than usual for this time of the year but has dropped significantly the past few weeks. The next few weeks will see the return of students to University and as we are based just a few hundred yards from the main halls of residence we expect another rise in sales, although we don't know whether we will see the usual number of Chinese student customers.

 

[wafter]

Thanks guys - some interesting insights so far

Looks like I might have missed the boat with my ofo. Tempted to sling it on ebay but I've not had any "no fee" promos for a while and I find the listings process increasingly akin to having teeth pulled..

 

[Moodyman]

Asking prices still seem above what they were 12m ago.

There's still a strong demand from the commuting market even if leisure has tapered off.

Ofo bikes are a bit niche so perhaps don't have the mass appeal.

 

[wafter]

Asking prices still seem above what they were 12m ago.

There's still a strong demand from the commuting market even if leisure has tapered off.

Ofo bikes are a bit niche so perhaps don't have the mass appeal.

Aye.. generally the used ofos I've seen for sale have typically ranged between £50 and £100; IMO mine's especially nice as it has proper fat pneumatic tyres when the original solid ones are bloody horrible. I've also tweaked some other bits like changing a lot of the tamperproof fixings, although I've also removed the mudguards and basket (all included) which may put some off.

They have a lot going for them as a cheap, low-maintenace utility bike; however equally are heavy with limited gearing and tbh if I had a ton to spend on a hack it'd probably be a more conventional hybrid. I've put a lot of time into it and would at least like to get back what I've spent... but then I guess I've had some use out of it too so can't complain too much. Would like the space back that it's occupying though and feel like I'm on a borrowed time re. demand with the winter looming.

 

[fossyant]

Psst, sorry OP, but I wouldn't expect much for an Ofo - you might get back what you paid for it.

 

[wafter]

Psst, sorry OP, but I wouldn't expect much for an Ofo - you might get back what you paid for it.

Neither would I, but again looking at ebay £50-100 seems to be the going rate for standard used ones - or at least it was the last time I checked. Hence I don't think I'm being unreasonable expecting to get something in this range.

 

[SkipdiverJohn]

Psst, sorry OP, but I wouldn't expect much for an Ofo - you might get back what you paid for it.

If I buy something, get some use out of it, then manage to sell it for what it cost me, I'd consider that a pretty good result.
Don't expect someone to compensate you for the time and effort spent sorting it. Purchase price + parts fitted is a realistic outcome.

 

[Smokin Joe]

Bear in mind that we are entering the time of year when demand slumps anyway, so prices will always depress.

 

[Oldhippy]

My ICE trike just been put up for sale but only been a day or so so see what happens.

 

[Reynard]

The local tip / recycling center certainly doesn't have as many adult bikes in as it usually does. Currently only two - a decent Trek hardtail (that needs a little bit of fettling) for £35 and a loop-framed Dutchie in good nick for £55. Those prices are somewhat up on what they usually charge, but still acceptable. The rest of their current stock is a grand total of five cheap kiddies bikes, including a couple of the usual full susser BSO. Usually, they will have around 20 bikes available.

The real test will be come the spring, I think. Who knows what the next few weeks will throw up - if we go back down into something like lockdown, I can still see people going for a bimble if the weather's good. Nothing like a good bike ride to help with the headspace side of things. Exercise is a good way of keeping me from climbing the walls, and that's likely true for a lot of folks.

Guess it's mainly the commuting market now, especially since public transport is probably still best avoided.

Parts. Now that's a totally different kettle of fish. I've had to put a pause on the bike build because some of the bits I need are out of stock. Uber expensive stuff still seems fine, it's the bog-standard to mid-range stuff that's hard to get the mitts on.

Actually, the same applies to tools. My LBS is out of stock on a lot of basic bike-specific tools.

 

[CanucksTraveller]

Coincidentally I've been looking at buying a shopper, ideally a pretty shabby and untidy one as a project. Everything available in that bracket seems to be £75-150 and labelled "vintage" or "Chopper era" as if that adds value in itself. The only cheap ones are truly tragic, snapped frames and missing hardware.

I think that's the eternally hopeful holding out and hoping the bubble hasn't quite burst yet. Used prices should be starting to ease now with lower demand, although they won't truly crash until the 2020 model Coronacycles start flooding the market sometime next year (when they've done at least a 6 month stint as a shed queen and the owners realise they probably won't find the motivation ever again).