I'm not sure this has been mentioned: The bike world is full of psychological traps that can become expensive. Clever marketing becomes a form of hypnosis. For susceptible people, it can result in a lot of unnecessary expenditure.
The same applies to subconscious peer pressure and expectations. And values that are largely picked up subconsciously.
For example, I was exposed to people who put a high value or Desirability Quotient on XTR and Dura Ace components. It resulted in my own valuations or DQ's being affected, mostly without my awareness that this was happening. Then it resulted in the creations of desires, which resulted in expensive purchases.
Similar processes resulted in other valuations/DQ's, which resulted in additional expensive purchases. Somehow I picked up a high image or DQ related to S-Works bikes and bought one. Carbon fiber, titanium, high end sealed cartridge bearings, optimal wheelsets, various tools...and many other things in the bike world.... I KEPT PICKING UP ON NEW DESIRABILITIES, new I-want-one's, which led to a series of unnecessary purchases.
Stepping back, none of it had much real value. It did very little for me at all. Very, very little. I would have been just fine, probably better and happier, sticking with a couple of moderately priced bikes and minimal gear. None of the other bikes is as enjoyable as my original Raleigh Competition. The rest have been truly unnecessary, basically non-rational, post hypnotic suggestion-induced purchases.
How does it compare with other hobbies? In recent years, bikes have been the most expensive by far.
I do seem to be pulling back from the illusions and false DQ's these days, though. And the unnecessary purchases are fewer.
Last edited by Bikesplendor; 03-05-19 at 01:17 PM.