Second hand bike pricing....

[RegG]

Not sure if this is the right forum but I have been trying to find somewhere to value my 2015 Giant Defy 0. The bike is in very good condition with numerous upgrades from the standard spec including full Ultegra 6800 groupset (with the exception of the front mech which is 105); Vittoria Session wheels with Vittoria Rubino G+ tyres; Selle Italia saddle.

Any thoughts on value or where I can get a value with a view to selling the bike?

 

[Grant Fondo]

Not sure if this is the right forum but I have been trying to find somewhere to value my 2015 Giant Defy 0. The bike is in very good condition with numerous upgrades from the standard spec including full Ultegra 6800 groupset (with the exception of the front mech which is 105); Vittoria Session wheels with Vittoria Rubino G+ tyres; Selle Italia saddle.

Any thoughts on value or where I can get a value with a view to selling the bike?

Secondhand prices seem quite suppressed, would have thought 35-40% of new price if in very good condition?

 

[Cycleops]

Look on eBay to see what similar bikes are going for.

 

[RegG]

Secondhand prices seem quite suppressed, would have thought 35-40% of new price if in very good condition?

Look on eBay to see what similar bikes are going for.

I have checked on the likes of eBay/Gumtree/Marketplace and the asking prices vary considerably - from £300 to £650! My bike is in vgc and, as I said in my original post, has numerous upgrades. I may have to pitch it at the upper end and see what happens!

 

[CanucksTraveller]

I think most buyers tend to see groupset upgrades on a used bike more as a nice bonus rather than an outright value / price multiplier.

Depends how quickly you want to move it on, if you're not in a rush then by all means pitch it at the upper end. Just be prepared for offers, or the prospect of reducing the asking price if it's not moving. Personally I'd go for a good middle ground and be open to a close offer.

 

[Grant Fondo]

I have checked on the likes of eBay/Gumtree/Marketplace and the asking prices vary considerably - from £300 to £650! My bike is in vgc and, as I said in my original post, has numerous upgrades. I may have to pitch it at the upper end and see what happens!

I was going to sell mine, but decided to keep as summer bike instead. Now may not be optimal time to sell!

 

[Specialeyes]

Don't look at current auctions on eBay, look at Sold Items (check the box on the search page, lower left) and you'll see what deals actually concluded, not the deluded asking prices of some sellers! An Ultegra spec bike with 2 sets of wheels went for £400 last month with one bid at a £400 start price, for example.

 

[biggs682]

I wonder if prices will suffer in current climate ?

 

[Bonefish Blues]

The general rule of thumb is 'a lot less than you might think' I'm afraid.

 

[wafter]

I wonder if prices will suffer in current climate ?

This was my thought too; on the one hand there are many reasons for prices of used bikes to fall - falling disposible income to spend on an "un-necessary leisure item", forced sales of non-essentials due to financial hardship, reluctance to deal face-to-face with others, reluctance to leave the house for outdoor activities, people having less time to cycle due to dealing with other issues in their lives..

On the other hand as belts tighten bikes represent a frugal alternative to cars and safer alternative to public transport (assuming it's even running), interest might rise in outdoor pursuits since a lot of pre-existing passtimes are now off the menu. Also one could argue that the sale of new bikes acts to suppress used prices and more will choose to buy used on cost grounds, reducing total supply and increasing the demand for used).

I've been actively looking for another bike and while I'm still keeping an eye on the market I've written the idea off for now - largely because my gut tells me that the cost of non-essentials will probably come down but I don't know how much of this is wishful thinking!

 

[PaulSB]

Also one could argue that the sale of new bikes acts to suppress used prices and more will choose to buy used on cost grounds, reducing total supply and increasing the demand for used).

I think the reverse is true. New bike sales have been in decline and this is thought to be due to two factors; the buzz created by Bradley Wiggins et al is or has reduced. Secondly many who threw themselves in to the sport have been selling very good bikes they no longer want.

I have many cycling buddies who have picked up absolute bargains in such circumstances when in the past they would have bought new.

 

[Pale Rider]

Extras or upgrades rarely add much to the achievable price of a bike and can detract from it.

Most second hand buyers are doing so because they cannot afford new.

Extras and upgrades take the second hand bike further away from new in their eyes, which makes such a bike less desirable.

 

[Gunk]

I just off loaded a very nice clean Scott Sub Cross on Sunday, price was about £20 less than I wanted, I’d have no chance of selling it now.

 

[wafter]

I think the reverse is true. New bike sales have been in decline and this is thought to be due to two factors; the buzz created by Bradley Wiggins et al is or has reduced. Secondly many who threw themselves in to the sport have been selling very good bikes they no longer want.

I have many cycling buddies who have picked up absolute bargains in such circumstances when in the past they would have bought new.

That's interesting - hadn't considered the possiblity of demand / interest falling in general. While this is a shame I guess it's not so bad if it's more a correction following a surge of public interest rather than a drop from a more stable long-term norm

Extras or upgrades rarely add much to the achievable price of a bike and can detract from it.

Most second hand buyers are doing so because they cannot afford new.

Extras and upgrades take the second hand bike further away from new in their eyes, which makes such a bike less desirable.

I'd agree that upgrades don't tend to add a lot of value; in addition to the originality argument I guess a lot of upgraded components are wear-parts so you don't know how much longer they'll last anyway. In addition I think many only upgrade once the original bits have worn out; raising further questions about the amount of use the bike's had / the extent to which it's been maintained.

I think the argument for used bikes isn't just that people can't afford new ones; it's also that you can get so much more for your money due to the depreciation. For example my £450 got me a "used" but never-ridden Tiagra-equipped CFRP road bike, while new it would have only stretched to Sora on an ally frame; which a year down the line would have dropped in value to maybe £250-300 and further south after that.


All this news doesn't appear to have reached the Croix De Fer sellers though.. There's a 2015 CdF 20 on ebay up at £500 starting bit and £750 BIN.. admittedly it's apparently low mileage and has a few extras but the BIN is insane considering an extra £250 would get you a brand new example of last years model with much better components. The massive gap between what the seller expects and what people are willing to pay is illustrated by the fact that even with a starting price of 2/3rds the BIN it ran for a week with no bids, but it's still be re-listed. Realistically worth about £450 perhaps..?

There are numerous others on there hanging around at stratospheric prices too, but the owners don't seem in a hurry to shift them.

 

[steveindenmark]

I think the reverse is true. New bike sales have been in decline and this is thought to be due to two factors; the buzz created by Bradley Wiggins et al is or has reduced. Secondly many who threw themselves in to the sport have been selling very good bikes they no longer want.

I have many cycling buddies who have picked up absolute bargains in such circumstances when in the past they would have bought new.

The decline could also be because riders have bought, bought, bought for the past few years and now have a shed full, like me.