Determining fair value of a used bike
#1
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Determining fair value of a used bike
I have been suffering from neck and shoulder pain and decided to go with a recumbent trike. I知 in my mid fifties and abused my body when young. The new recumbent has been a Godsend.
I知 planning to sell my two newest road bikes but I知 not sure what to ask. Are the values in bike blue book accurate? Both bikes are about a year old 2020 models. One is a Trek Checkpoint ALR 5 aluminum with carbon fork and shim and 105 gearset. I put about 2,500 miles on it but it痴 in near perfect condition. The other is a Trek Domane SLR5 full carbon. In excellent condition. It has about 1500 miles on it. I bought them both brand new. Not trying to sell with this post. I知 just trying to figure out a fair price. I just spent a ton on the trike so I知 hoping to cover some of its cost by selling these. The numbers on bike blue book look good but I don稚 know if they are realistic.
thanks,
Tim
I知 planning to sell my two newest road bikes but I知 not sure what to ask. Are the values in bike blue book accurate? Both bikes are about a year old 2020 models. One is a Trek Checkpoint ALR 5 aluminum with carbon fork and shim and 105 gearset. I put about 2,500 miles on it but it痴 in near perfect condition. The other is a Trek Domane SLR5 full carbon. In excellent condition. It has about 1500 miles on it. I bought them both brand new. Not trying to sell with this post. I知 just trying to figure out a fair price. I just spent a ton on the trike so I知 hoping to cover some of its cost by selling these. The numbers on bike blue book look good but I don稚 know if they are realistic.
thanks,
Tim
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I’d say right now n the DFW area you would likely be able to do better than Blue Book values.
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I have been suffering from neck and shoulder pain and decided to go with a recumbent trike. I知 in my mid fifties and abused my body when young. The new recumbent has been a Godsend.
I知 planning to sell my two newest road bikes but I知 not sure what to ask. Are the values in bike blue book accurate? Both bikes are about a year old 2020 models. One is a Trek Checkpoint ALR 5 aluminum with carbon fork and shim and 105 gearset. I put about 2,500 miles on it but it痴 in near perfect condition. The other is a Trek Domane SLR5 full carbon. In excellent condition. It has about 1500 miles on it. I bought them both brand new. Not trying to sell with this post. I知 just trying to figure out a fair price. I just spent a ton on the trike so I知 hoping to cover some of its cost by selling these. The numbers on bike blue book look good but I don稚 know if they are realistic.
thanks,
Tim
I知 planning to sell my two newest road bikes but I知 not sure what to ask. Are the values in bike blue book accurate? Both bikes are about a year old 2020 models. One is a Trek Checkpoint ALR 5 aluminum with carbon fork and shim and 105 gearset. I put about 2,500 miles on it but it痴 in near perfect condition. The other is a Trek Domane SLR5 full carbon. In excellent condition. It has about 1500 miles on it. I bought them both brand new. Not trying to sell with this post. I知 just trying to figure out a fair price. I just spent a ton on the trike so I知 hoping to cover some of its cost by selling these. The numbers on bike blue book look good but I don稚 know if they are realistic.
thanks,
Tim
I was happy to get that much in return.
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Blue book bike prices are consistently terrible.
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What's more important is how much do you value them. Or in other words, if you don't get offered what you feel they are worth, are you willing to let them sit and rot in storage or just sit around taking up space?
Even at a fair market value, will you be able to let the potential customers that are willing to pay a fair market price or higher know about your bike ?
Even at a fair market value, will you be able to let the potential customers that are willing to pay a fair market price or higher know about your bike ?
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with the current shortage of new bikes, a 1 year old bike might be worth what you paid for it.
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A 2020 ALR5 retailed for $2099. The 2021 version is $2199.
Considering that Gravel bikes are currently in really short supply, I'd price it at about $2000 and negotiate from there.
Considering that Gravel bikes are currently in really short supply, I'd price it at about $2000 and negotiate from there.
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I would do the happy dance to get 80-90 percent of original value. They are in great shape and like new. I didn稚 know bikes were still hot!
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Look at your local bike ads and see what is for sale and at what price. Price your bikes accordingly. If you are priced higher than market rate it may take some time to find a buyer looking for your specific bike, and who is willing to overpay.
Last edited by Bryan C.; 05-23-21 at 04:15 PM.
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#10
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I agree that with the "grand re-opening" the market has cooled. I've noticed people on Facebook marketplace marking stuff way down from what they were originally trying to sell for. You have to remember that people are now selling a lot of those bikes that were flying out of stores at this time last year. But start at 80% retail and see what happens. You can always go down in a couple of weeks.
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In my neck of the woods used bikes that you are selling would go from 90-110% or your paid price. I was quoted January 2022 for Checkpoint. You will have no problems selling.
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^this. With perfect information available to both seller and buyer, and mutual agreement on the price, then they have reached fair market value.
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You could check prices for comparables on TheProsCloset and/or ask them to make an offer for your bikes.
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True, but you still have to find a potential buyer who is interested enough to negotiate with you.
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Rumor has it Bicycle Blue Book is run by a retail bike chain. The rumor also states they purposely low ball trade in prices so that same chain can make a buck marking them up.
Don't know about the rumors but know for a fact their prices are on the low side. Especially right now.
Don't know about the rumors but know for a fact their prices are on the low side. Especially right now.
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Rumor has it Bicycle Blue Book is run by a retail bike chain. The rumor also states they purposely low ball trade in prices so that same chain can make a buck marking them up.
Don't know about the rumors but know for a fact their prices are on the low side. Especially right now.
Don't know about the rumors but know for a fact their prices are on the low side. Especially right now.
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Nope. Not even close.
My favorite way to determine the market value of most used items is to check completed eBay listings of similar items. You have to take into account the condition, but it otherwise gives you a fairly good starting point.
My favorite way to determine the market value of most used items is to check completed eBay listings of similar items. You have to take into account the condition, but it otherwise gives you a fairly good starting point.
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I知 travelling for work all this week. I知 going to post them for sale this weekend. We will see how it goes. I知 not in a huge hurry to get them sold. I will try the higher price points and slowly reduce until the sell. I can always go down on price but never up.
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I've sold all of 4 bicycles in my whole life, but the times I did I priced them to sell. Too much work dealing with people who never show up.
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Good point. When I fist posed the question I didn稚 expect the high value responses I received. I知 going to post them this weekend. I知 going to be reasonable in the pricing.