£5 for get to work bike in '39

tpmlogan

hi I was talking to my father in law last week . He was reminiscing about times past and he said that the first new bike he bought was a Raleigh. It was" the year the war started ," as he said and he paid £ 5 . he was working as a farm labourer and says that he was paid about 10 bob a week.
Of course this bike was used to get to work and to do a bit of courting.He still has the bike but can no longer use. It weighs a ton but was used regularly up until about 15 years ago.
Good value at £5 although he said, spending that type of money then nearly got him kicked out of the house
Any one any idea how much in today's money that £5 would be?

Gasman

Well, extrapolating from a 50p wage to 40 hours of minimum wage, I'd estimate about £2600.

But don't quote me

Ash_

These things can never really accurately be worked out. However, according to this site:

http://www.thisismoney.co.uk/historic-inflation-calculator

then your dad's bike would come in at £231.25

Gavin Gilbert

Whereas in the same year a top of the range Holdsworth with all the fancy imported Continental kit would have set you back a massive £17:17:00

Headhuunter

So a top of the range bike at that time would only have cost about £700?

tpmlogan

working on the minimum wage theory and valuing the £5 bike at £2600 for a farm labourer who could afford the bike at over £17.
I think like, every thing prices have dropped in real terms, when you relate it to your wages and buying power.. Still I have to laugh at my father in law when he talks of "courting ," and his Raleigh , which he still maintains was the talk of the Parrish. "It had a back pedal brake." What a chat up line to get some one to sit on your cross bar.