Unrealistic Secondhand Asking Prices?

Shotsaway

I know that prices of new bikes has gone up quite a bit over the last couple of years but has anybody noticed that used bikes prices seem to be rising? Recently I've seen bikes on eBay where the sellers appear to be setting unrealistic reserve/buy it now prices.

For example this seller has a buy it now price of £999 for a 2004 Stumpjumper Expert. The seller states that the bike was £1999 new, although I did look at buying one and I'm sure (from my faded memory) that they were £1799 in 2004 (Although I may be wrong)

http://cgi.ebay.co.uk/Specialized-Stump ... 45f96c1555

Anyway £1000 for a 7 year old bike just doesn't look like a good deal. Especially when you could buy a brand new Camber Comp for about £1200. As technology and components have moved on over the years, surely the Camber would be just as good a bike as the 2004 Stumpjumper?

And before anybody says it, if the seller gets £1000, then that is a fair price, as somebody is obviously prepared to pay that.

cooldad

As you have already answered your question, nothing more to add.

WisePranker

There seems to be a few people about who over value their bikes by a huge amount.
There was someone on here recently selling his bike for a ridiculous amount and when someone pointed it out to him, he became quite rude about it.
Needless to say, he never sold it here and listed it a couple of times on eBay without selling it either :-)

I'm not sure what it is that makes people think that their used 5 year old bike is worth the same as a better spec brand new modern bike. Strange.

cooldad

It's a bit like buying an old guitar owned by Eric Clapton. My bikes should be worth a similar fortune as they've been in close proximity to my obvious.

Anonymous

They can ask what they like on ebay. Doesn't mean it will sell. I always look at the history of completed items and see what things actually sold for to get an idea of a price, not what people are asking.

Hence I know my GT which cost £999 originally only sells for £300, and that's at a push. I could put it on for £500 sure, but no one will buy it. I'm better off selling the forks and rear shock separately and use the rest of the bike for parts.

Though there are some idiots using ebay. Some will get into a bidding war paying stupid prices for something when an identical item is listed at the same time at half the price getting no bids!

miss notax

When I sold my old Santa Cruz Superlight on Ebay I started the bidding at 99p, working on the logic that the bike would find it's true price eventually (hopefully within the week ). Not good for the nerves, but it worked and the bike sold for about £700.

Would have got there if I had started bidding at £650? Who knows - the joy of Ebay

WisePranker

There seems to be a few people about who over value their bikes by a huge amount.
There was someone on here recently selling his bike for a ridiculous amount and when someone pointed it out to him, he became quite rude about it.
Needless to say, he never sold it here and listed it a couple of times on eBay without selling it either :-)

I'm not sure what it is that makes people think that their used 5 year old bike is worth the same as a better spec brand new modern bike. Strange.

shm_uk

Interesting description of the rear suspension setup:

"pushing you forward with every pedal stroke"

I'd love my shock to actually propel the bike forwards!
Just imagine how much faster I could go!

omegas

Every day on EBay you will find used items sold for more than what they would cost new , someone puts the recommended list price in there and everyone thinks they are getting a bargain.

I think it’s great, makes me smile every day and puts more money in my pocket.

stardude

there is a giant 2006 OCR4 on there at the moment for £250.

the RRP on it was £299 back when it was new!

Rich25

cooldad wrote:

As you have already answered your question, nothing more to add.

Why bother saying stuff like this to people. He's clearly just asking for an opinion on a topic i personally think is quite interesting.

The Northern Monkey

Thing is.. with new prices going up so much, used prices are going up too!

Just look at cars. The demand for used cars is soaring, and prices are following suit.


BUT... it will only be worth what someone is willing to pay... if no one buys it he will either relist and try again or relist and reduce the price.

getonyourbike

Rich25 wrote:

cooldad wrote:

As you have already answered your question, nothing more to add.

Why bother saying stuff like this to people. He's clearly just asking for an opinion on a topic i personally think is quite interesting.

that is cooldad, it's his forum job

wordnumb

cooldad wrote:

It's a bit like buying an old guitar owned by Eric Clapton. My bikes should be worth a similar fortune as they've been in close proximity to my obvious.

Yeah. Like Flann O'Brien writes in The Third Policeman, the molecules mix between rider and bicycle, each taking on a little of the personality of the other.

cooldad

getonyourbike wrote:

Rich25 wrote:

cooldad wrote:

As you have already answered your question, nothing more to add.

Why bother saying stuff like this to people. He's clearly just asking for an opinion on a topic i personally think is quite interesting.

that is cooldad, it's his forum job

I agree it's interesting, which is why I added more.

The OP still answered his own question though.

I originally said that as it's what I thought at the precise moment I read it. Just as you did with your comment, and wasted just as much of the internet as I did.
Fortunately there's still a bit left for more pointless posts.

cooldad

wordnumb wrote:

cooldad wrote:

It's a bit like buying an old guitar owned by Eric Clapton. My bikes should be worth a similar fortune as they've been in close proximity to my obvious.

Yeah. Like Flann O'Brien writes in The Third Policeman, the molecules mix between rider and bicycle, each taking on a little of the personality of the other.

Which probably makes my bikes grumpy and irritable.

getonyourbike

cooldad wrote:

getonyourbike wrote:

Rich25 wrote:

cooldad wrote:

As you have already answered your question, nothing more to add.

Why bother saying stuff like this to people. He's clearly just asking for an opinion on a topic i personally think is quite interesting.

that is cooldad, it's his forum job

I agree it's interesting, which is why I added more.

The OP still answered his own question though.

I originally said that as it's what I thought at the precise moment I read it. Just as you did with your comment, and wasted just as much of the internet as I did.
Fortunately there's still a bit left for more pointless posts.

I can do pointless posts too. In fact, if we were talking about pointless posts, isn't that the whole of the crudcatcher? But its that awesome that it can never go.

cooldad

getonyourbike wrote:

cooldad wrote:

getonyourbike wrote:

Rich25 wrote:

cooldad wrote:

As you have already answered your question, nothing more to add.

Why bother saying stuff like this to people. He's clearly just asking for an opinion on a topic i personally think is quite interesting.

that is cooldad, it's his forum job

I agree it's interesting, which is why I added more.

The OP still answered his own question though.

I originally said that as it's what I thought at the precise moment I read it. Just as you did with your comment, and wasted just as much of the internet as I did.
Fortunately there's still a bit left for more pointless posts.

I can do pointless posts too. In fact, if we were talking about pointless posts, isn't that the whole of the crudcatcher? But its that awesome that it can never go.

Pointless posts are what it's all about. Was really aiming my answer at Rich25 though, for his uber pointless post.

getonyourbike

oh well. I'm special...

Turrican

I sold me Yeti ASX on Pink bike and didnt get what i paid and put into it back. I had it on Ebay at some point and didnt get asking price and i even lowered it at some point.

Anonymous

Put on for a pound and stick a reserve on it if you don't want it to go too low. Though people are still put off by a reserve.

Lots of tricks to ebay though. Make sure you list it at the right time so it ends at a peak time for people shopping, as most people bit towards the end. Check that there are no other listings similar to yours ending at the same time. Make sure you have good history. You can get far less bids if you haven't sold much on ebay. Add plenty of detail on the item but no salesman fluff. For a bike, good picture and detailed spec, and be honest about little dings and scratches. Don't waffle on about what it originally sold for and how amazing the suspension is. Those who are likely to spend good money on it are likely to know all about the bike and what they are looking for. Shipping or collection is often a deal breaker. People can be prepared to spend many hundreds but not £10 or £20 to get it shipped or the cost of petrol to pick it up. Factor in shipping into the final price. Offer shipping as an option as local pick up only reduces the number of bids.

etc.

or sell it here. Though haven't had experience of selling here myself.

AlasdairMc

That's a rip off!! I paid £650 for a barely used 2004 Enduro Expert in April 2007, but if someone is prepared to pay that then that's up to them...

MorganP104

deadkenny wrote:

Lots of tricks to ebay though. Make sure you list it at the right time so it ends at a peak time for people shopping, as most people bit towards the end. Check that there are no other listings similar to yours ending at the same time. Make sure you have good history. You can get far less bids if you haven't sold much on ebay. Add plenty of detail on the item but no salesman fluff. For a bike, good picture and detailed spec, and be honest about little dings and scratches. Don't waffle on about what it originally sold for and how amazing the suspension is. Those who are likely to spend good money on it are likely to know all about the bike and what they are looking for. Shipping or collection is often a deal breaker. People can be prepared to spend many hundreds but not £10 or £20 to get it shipped or the cost of petrol to pick it up. Factor in shipping into the final price. Offer shipping as an option as local pick up only reduces the number of bids.

I'm a very experienced eBayer myself, and I can tell you all of this is cracking advice.

No matter what I'm selling, from a pair of sunglasses to a car, I always start my auctions at 99p and I never set a reserve price. If the product is desirable, your pictures are good, and your write-up is perfect, you will get a decent price.

It's like the fire triangle... If one or more of those three elements is missing, you'll be unlikely to secure a good final price. Or start a fire. Or something. :roll:

I know what I'm talking about, honest!