Go Back  Bike Forums > Bike Forums > General Cycling Discussion
Reload this Page >

Home dealers push second hand bike prices up

Notices
General Cycling Discussion Have a cycling related question or comment that doesn't fit in one of the other specialty forums? Drop on in and post in here! When possible, please select the forum above that most fits your post!

Home dealers push second hand bike prices up

Old 04-15-20, 12:40 PM
  #1  
alo
Senior Member
Thread Starter
 
Join Date: Feb 2020
Posts: 429
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 191 Post(s)
Likes: 0
Liked 92 Times in 70 Posts
Home dealers push second hand bike prices up

There are some people, often pensioners, who like to make a little extra money to supplement their pension. Some of these deal in second hand bikes. They read the local for sale pages often. When they see a bike cheap, they quickly pick it up. Some even get bikes from the trash. On some bikes they may swap parts. They then sell these bikes at higher prices.

So when an ordinary average person looks for a second hand bike, on the rare occasion they see a cheap bike, it is sold before they have a chance to buy it. The only bikes they can buy are these more expensive second hand bikes from the home dealers. Those who don't know, think these are normal prices for second hand bikes.

In places where you don't have these home dealers, you can find cheap bikes. Where you have these home dealers, second hand bikes are expensive.

Other home dealers do this with computers. In some places, it is impossible to buy a second hand computer at a reasonable price. Only those with little understanding of computers buy them.

Some car dealers also snap up cheap second hand cars for sale privately. Some also sell the worst cars from home, not at the dealership.
alo is offline  
Likes For alo:
Old 04-15-20, 12:45 PM
  #2  
burnthesheep
Newbie racer
 
Join Date: Feb 2018
Location: Raleigh, NC
Posts: 1,844

Bikes: Propel, red is faster

Mentioned: 32 Post(s)
Tagged: 0 Thread(s)
Quoted: 844 Post(s)
Liked 536 Times in 367 Posts
Originally Posted by alo View Post
There are some people, often pensioners, who like to make a little extra money to supplement their pension. Some of these deal in second hand bikes. They read the local for sale pages often. When they see a bike cheap, they quickly pick it up. Some even get bikes from the trash. On some bikes they may swap parts. They then sell these bikes at higher prices.

So when an ordinary average person looks for a second hand bike, on the rare occasion they see a cheap bike, it is sold before they have a chance to buy it. The only bikes they can buy are these more expensive second hand bikes from the home dealers. Those who don't know, think these are normal prices for second hand bikes.

In places where you don't have these home dealers, you can find cheap bikes. Where you have these home dealers, second hand bikes are expensive.

Other home dealers do this with computers. In some places, it is impossible to buy a second hand computer at a reasonable price. Only those with little understanding of computers buy them.

Some car dealers also snap up cheap second hand cars for sale privately. Some also sell the worst cars from home, not at the dealership.
The best way to combat this to report "vendors" or "individuals" who are clearly violating terms of service for your local "craigslist" or "gumtree". If someone is peddling a ton of stuff that clearly wasn't originally theirs and isn't listed as a "vendor", ban. Report them using the report button often.

The reason is if they register as a vendor you can filter them out of the results to individuals only.

We have a guy around here in the US in my city that does it and is registered as an individual, haven't gotten the ban yet........but probably soon.
burnthesheep is online now  
Old 04-15-20, 12:58 PM
  #3  
alo
Senior Member
Thread Starter
 
Join Date: Feb 2020
Posts: 429
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 191 Post(s)
Likes: 0
Liked 92 Times in 70 Posts
Originally Posted by burnthesheep View Post
The best way to combat this to report "vendors" or "individuals" who are clearly violating terms of service for your local "craigslist" or "gumtree". If someone is peddling a ton of stuff that clearly wasn't originally theirs and isn't listed as a "vendor", ban. Report them using the report button often.

The reason is if they register as a vendor you can filter them out of the results to individuals only.

We have a guy around here in the US in my city that does it and is registered as an individual, haven't gotten the ban yet........but probably soon.
I want to explain this, so some of those buying a second hand bike for the first time, understand that the prices the are asking are higher than they would be if you were buying from a genuine private seller. In some places they have a monopoly on the market, so all second hand bikes are expensive. Some people don't know how much is reasonable for second hand bikes.
alo is offline  
Old 04-15-20, 01:06 PM
  #4  
Phil_gretz
Journeyman Bike Commuter
 
Phil_gretz's Avatar
 
Join Date: Aug 2009
Location: Alexandria, VA
Posts: 5,817

Bikes: '71 Jeunet 640, '74 Fuji Special Road Racer, '79 Peugeot PXN10LE, '88 Fuji Saratoga, '13 Motobecane Fantom29 HT, '16 Motobecane Turino Pro Disc, '16 Motobecane Gran Premio Elite, '18 Velobuild VB-R-022

Mentioned: 16 Post(s)
Tagged: 0 Thread(s)
Quoted: 942 Post(s)
Liked 555 Times in 319 Posts
Arbitrage

is the buying and selling of assets (usually financial instruments) by taking advantage of price differences in different markets. This is as common as pigeons.

I don't have any problem with intermediate vendors doing this, as their influence isn't the primary driver of market prices. Unless they come to dominate a very small local market, in which case they can drive up prices.

In my local (large) market, there are dozens and dozens of bikes available at relatively cheap prices. More than anyone could ever want or need. Very few are in fully refurbished, cleanly presented, truly ready-to-ride condition. This type of bike commands a premium price...and gets it.
Phil_gretz is offline  
Old 04-15-20, 03:30 PM
  #5  
fishboat 
Senior Member
 
Join Date: Feb 2016
Location: SE Wisconsin
Posts: 746

Bikes: Lemond '01 Maillot Jaune, Lemond '02 Victoire, Lemond '03 Poprad, '79 AcerMex Windsor Carrera Professional(purchased new), '06 Bianchi Volpe, '88 GT Tequesta(purchased new), '01 Bianchi Grizzly, 1993 Trek 970 drop bar conversion

Mentioned: 5 Post(s)
Tagged: 0 Thread(s)
Quoted: 278 Post(s)
Likes: 0
Liked 118 Times in 71 Posts
..and some people build entire villages of straw people in their head to blame when they choose to not make some effort..more effort than some other people

"..from those according to their ability, to those according to their need.."
fishboat is offline  
Old 04-15-20, 03:44 PM
  #6  
jack pot 
Fxxxxr
 
jack pot's Avatar
 
Join Date: Jan 2017
Location: falfurrias texas
Posts: 512

Bikes: wabi classic (stolen & recovered)

Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 534 Post(s)
Liked 167 Times in 132 Posts
Originally Posted by fishboat View Post
..and some people build entire villages of straw people in their head to blame when they choose to not make some effort..more effort than some other people

"..from those according to their ability, to those according to their need.."
>>> i would push this to say that any conception of reality that can logically conclude that there is an artificially enhanced 2nd hand bicycle market populated by elderly profiteers is sorely in need of an intervention
__________________
... and so it goes
jack pot is offline  
Old 04-15-20, 03:54 PM
  #7  
Olefeller77 
Senior Member
 
Join Date: Sep 2019
Location: Illinois quad cities (Colona)
Posts: 153

Bikes: Trek Marlin 6 29r - Scattanti road bike w carbon fork - Trek 6500 - Univega Alpina 503 - Specialized Sworks M4 made in USA

Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 62 Post(s)
Liked 61 Times in 37 Posts
I am the guilty one. I am a pensioner. I bought a Univega Alpina for $27 and change the second day of an estate sale after literally hundreds looked it over. . I put a set of tires on it . I cleaned it up nice and bought a set of Salmon brake pads. If I don't find someone to gift the bike to I might consider flipping it for $30. I found the estate sale on an old computer that is the only one I own.
I think the OP needs some time out riding. Just my opinion of course.
Olefeller77 is offline  
Old 04-15-20, 03:54 PM
  #8  
dedhed
SE Wis
 
dedhed's Avatar
 
Join Date: Apr 2005
Location: Milwaukee, WI
Posts: 6,613

Bikes: '68 Raleigh Sprite, '02 Raleigh C500, '84 Raleigh Gran Prix, '91 Trek 400

Mentioned: 22 Post(s)
Tagged: 0 Thread(s)
Quoted: 1234 Post(s)
Liked 643 Times in 440 Posts
You're certainly welcome to get in on this sure fire get rich quick scheme.
dedhed is offline  
Old 04-15-20, 05:24 PM
  #9  
JayKay3000
Senior Member
 
JayKay3000's Avatar
 
Join Date: Mar 2012
Posts: 172
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 46 Post(s)
Liked 41 Times in 31 Posts
Only time this is an issue if someone is covering up a problem that exists.

Otherwise it's an open market. There are always good deals to be had if you want them, you just have to keep your eyes open and you'll get what you're after.

Plenty of people do this flip for a profit on all sorts of items. I've had a go myself with varying degrees of success. Unfortunately I wasn't that good an lost more than I made as sometimes the item would be worth more, but the cost of parts would eat into the profit. But I was only doing it for fun and once I ran out the small amount of money I was playing with for it I moved on.
JayKay3000 is offline  
Likes For JayKay3000:
Old 04-15-20, 05:48 PM
  #10  
billridesbikes
Senior Member
 
Join Date: Nov 2019
Posts: 174
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 56 Post(s)
Liked 92 Times in 53 Posts
What they are doing is finding used bikes for below what the second hand market will pay and fixing them or flipping them at the market price. If they‘re able to sell the bike at an ‘expensive’ price that is what the local market will bear for used bikes and that is the fair price of a used bike. The same situation exists for a lot of other used goods, but you or I don’t have enough expertise to see that happening in, say, used watches although it certainly does.
billridesbikes is offline  
Likes For billridesbikes:
Old 04-15-20, 06:01 PM
  #11  
seafood
Senior Member
 
seafood's Avatar
 
Join Date: Sep 2012
Posts: 142
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 10 Post(s)
Likes: 0
Liked 4 Times in 2 Posts
If you don't like the prices in your region and you find yourself unable to snatch up the good deals quickly enough, then you probably have the following options to consider:
  1. find a good deal in another region that's worth while for you to go to
  2. take time off work and invest that time into responding to local for-sale ads
  3. find a less desirable bike that needs some work to fix it up
  4. find a more expensive fixed used bike that's more conveniently available and pay the premium for your convenience and someone else's investment
seafood is offline  
Likes For seafood:
Old 04-15-20, 07:00 PM
  #12  
gear64
Senior Member
 
gear64's Avatar
 
Join Date: Apr 2014
Location: STL Missouri
Posts: 407

Bikes: Univega Gran Premio, Lotus Classique, Terranaut Metro

Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 70 Post(s)
Liked 46 Times in 32 Posts
I understand the sentiment. It's been a while since I checked, but there was one here for sure, and a few others I suspected. They certainly don't drive the entire local market up, but it is a pain browsing through all their postings looking for one of interest from someone just cleaning out the garage. Many for 200+ with minimal polish, seemingly just trying to sell on brand recognition alone. I've seen rough looking Cannondales listing around 300. Still, I managed to find a Univega Gran Premio at what was a reasonable price to me last summer that has become my favorite. In my old age I just like to cycle through the bike brands of my youth, while I have one in hand it's just a matter of periodically looking until the next of interest pops up.

Last edited by gear64; 04-15-20 at 07:03 PM.
gear64 is offline  
Likes For gear64:
Old 04-15-20, 07:15 PM
  #13  
hillyman 
WALSTIB
 
hillyman's Avatar
 
Join Date: Mar 2002
Posts: 1,737
Mentioned: 2 Post(s)
Tagged: 0 Thread(s)
Quoted: 249 Post(s)
Liked 308 Times in 146 Posts
Ahhh get off my lawn
__________________
hillyman is offline  
Old 04-15-20, 07:21 PM
  #14  
indyfabz
Senior Member
 
indyfabz's Avatar
 
Join Date: Jan 2010
Posts: 26,952
Mentioned: 192 Post(s)
Tagged: 1 Thread(s)
Quoted: 11386 Post(s)
Liked 3,027 Times in 1,684 Posts
Maybe they are taking cheap bikes and fitting them with shiny bars that canít possibly be aluminum. Probably ti. That would justify inflated prices.
indyfabz is offline  
Old 04-15-20, 09:07 PM
  #15  
Thomas15
Senior Member
 
Join Date: Aug 2004
Location: NE PA
Posts: 288
Mentioned: 2 Post(s)
Tagged: 0 Thread(s)
Quoted: 97 Post(s)
Liked 120 Times in 80 Posts
I have long suspected but never really fully understood why the used bicycle market is so competitive. But now my understanding is complete and it all makes sense now.
Thomas15 is offline  
Likes For Thomas15:
Old 04-15-20, 09:15 PM
  #16  
mstateglfr 
Sunshine
 
mstateglfr's Avatar
 
Join Date: Aug 2014
Location: Des Moines, IA
Posts: 10,421

Bikes: '18 class built steel roadbike, '19 Fairlight Secan, '87 Schwinn Prelude, Black Mountain Cycles Monstercross V4, '89 Novara Trionfo, '18 Diamondback Syncr

Mentioned: 94 Post(s)
Tagged: 0 Thread(s)
Quoted: 4069 Post(s)
Liked 1,040 Times in 664 Posts
I read thru this a few times and am not sure why it was posted.
mstateglfr is online now  
Old 04-15-20, 09:51 PM
  #17  
Charliekeet
Senior Member
 
Join Date: Sep 2015
Location: Massachusetts
Posts: 289

Bikes: Giant OCR1, '85 Cannondale SR900, Marin Hawk Hill SE

Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 78 Post(s)
Liked 29 Times in 21 Posts
Oh noes, some are even doing it with computers?!?!

If the bikes youíre referring to are cheap to begin with (or even from the trash) then the people who are flipping them are likely people who are making them rideable and better as a result. Nobody is forced to buy anything.

Thereís also no reason that you canít go snap up one of these inexpensive bikes before this rapacious predator baby boomer snatches it for his heartless capitalistic scheme; youíre just not looking or acting quickly enough.
Charliekeet is offline  
Likes For Charliekeet:
Old 04-15-20, 09:53 PM
  #18  
DropBarFan
Senior Member
 
Join Date: Mar 2011
Posts: 3,151

Bikes: 2013 Surly Disc Trucker, 2004 Novara Randonee , old fixie , etc

Mentioned: 3 Post(s)
Tagged: 0 Thread(s)
Quoted: 671 Post(s)
Likes: 0
Liked 44 Times in 38 Posts
Originally Posted by Olefeller77 View Post
I am the guilty one. I am a pensioner. I bought a Univega Alpina for $27 and change the second day of an estate sale after literally hundreds looked it over. . I put a set of tires on it . I cleaned it up nice and bought a set of Salmon brake pads. If I don't find someone to gift the bike to I might consider flipping it for $30. I found the estate sale on an old computer that is the only one I own.
I think the OP needs some time out riding. Just my opinion of course.
Tinkerer types often have the spare time & parts to patch bikes up cheaply for non-mechanical buyers who don't have the time & skill to repair used bikes. A local guy had a house with all sorts of fruit trees & such, also sold fixed-up kids' bikes. Seems like profit wasn't the main motive, he might have made $10-$15 max on each bike.
DropBarFan is offline  
Likes For DropBarFan:
Old 04-15-20, 09:59 PM
  #19  
drlogik 
Senior Member
 
drlogik's Avatar
 
Join Date: Mar 2016
Location: North Carolina
Posts: 1,099

Bikes: '87-ish Pinarello Montello; '89 Nishiki Ariel; '85 Raleigh Wyoming, '16 Wabi Special, '16 Wabi Classic, '14 Kona Cinder Cone

Mentioned: 5 Post(s)
Tagged: 0 Thread(s)
Quoted: 417 Post(s)
Likes: 0
Liked 30 Times in 22 Posts
God bless capitalism! The market drives the demand. The refurbishers provide the supply. Anyone with the skills can do this also, and nobody can stop you.
drlogik is offline  
Old 04-15-20, 10:04 PM
  #20  
CliffordK
Senior Member
 
CliffordK's Avatar
 
Join Date: Nov 2014
Location: Eugene, Oregon, USA
Posts: 24,557
Mentioned: 195 Post(s)
Tagged: 0 Thread(s)
Quoted: 11504 Post(s)
Liked 937 Times in 727 Posts
"Flippers" are just part of life.

I can remember when Dad was upgrading the pickup long ago, the dealer wanted to buy the old pickup for his "cousin". I have no idea whether the story was real or not, but I've learned not to trust used car dealers one bit.

I really don't have a problem with someone who invests time and energy into "Value Added". Good tuneup, greasing, new bearings, cables, seat, etc. But, I find it annoying those that simply buy cheap (perhaps try to bargain down), then flip and raise the price while doing absolutely nothing to the bike.

I haven't done much selling, but will try some selling shortly. Cars? I'd be happy to give a great deal to a struggling college student, but don't want to deliberately try to give someone a good deal only to get it flipped for profit.
CliffordK is online now  
Likes For CliffordK:
Old 04-16-20, 12:42 AM
  #21  
krecik
Senior Member
 
krecik's Avatar
 
Join Date: Jun 2018
Location: Tredegar, Wales
Posts: 358

Bikes: coastie

Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 136 Post(s)
Liked 84 Times in 54 Posts
I'm no pensioner and I do this. It's called flipping bikes. But I never buy them, I just pick them up off the street before the junkman does, I always ask the owner If I can have it first. If it's trashed and I find it in a neutral place, I just take it, get it working and get it sold.

It's a nice extra buck here and there. Sometimes, I'll just dismantle the whole thing and cannibalise it for ball bearings and other parts and dump the rest if it's too far gone.

Kret
krecik is offline  
Likes For krecik:
Old 04-16-20, 04:38 AM
  #22  
canklecat
Me duelen las nalgas
 
canklecat's Avatar
 
Join Date: Aug 2015
Location: Texas
Posts: 11,373

Bikes: Centurion Ironman, Trek 5900, Univega Via Carisma, Globe Carmel

Mentioned: 183 Post(s)
Tagged: 0 Thread(s)
Quoted: 3620 Post(s)
Liked 1,146 Times in 760 Posts
"So when an ordinary average person looks for a second hand bike, on the rare occasion they see a cheap bike, it is sold before they have a chance to buy it."
I must be an extraordinary person. I've bought all my bikes from flippers, usually for around $200-$250. Heck, I bought from the same bike flipper twice, a year apart. I got a good deal. Presumably they made enough to cost their costs. Nothing to complain about.

It takes a certain temperament to enjoy buying and selling used items, along with the chattering, haggling and dickering over prices. Some folks don't enjoy that, so they're more likely to feel ripped off. For some of us it's more about the journey and opportunity to shoot the breeze.

Sure, it's nice to snag a real bargain occasionally. But I don't feel particularly good about paying too little for something a seller didn't recognize the value of. Especially if they burned their gas money and spent time cleaning it up or making sure it's safe and ready to ride.
canklecat is offline  
Likes For canklecat:
Old 04-16-20, 05:51 AM
  #23  
indyfabz
Senior Member
 
indyfabz's Avatar
 
Join Date: Jan 2010
Posts: 26,952
Mentioned: 192 Post(s)
Tagged: 1 Thread(s)
Quoted: 11386 Post(s)
Liked 3,027 Times in 1,684 Posts
Originally Posted by mstateglfr View Post
I read thru this a few times and am not sure why it was posted.
Quit your lying!
indyfabz is offline  
Old 04-16-20, 06:21 AM
  #24  
russtopherb
Senior Member
 
russtopherb's Avatar
 
Join Date: Apr 2020
Location: Southcoast MA
Posts: 54

Bikes: 1995 Specialized Hardrock Sport, 2019 Jamis Allegro Sport

Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 11 Post(s)
Liked 25 Times in 16 Posts
This is commonplace across pretty much everything to be honest. Golf clubs? People buy cheap sets all the time, clean them, install new grips, then resell for profit. Instruments? Same thing - new strings and pickups on guitars, or new heads on drums, etc along with a good thorough cleaning. It happens. Still plenty of deals to be found as long as you take a few minutes to look.
russtopherb is offline  
Likes For russtopherb:
Old 04-16-20, 06:32 AM
  #25  
Tony P.
Senior Member
 
Join Date: May 2015
Posts: 244
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 175 Post(s)
Liked 118 Times in 66 Posts
As someone soon to be 72, I think I found a new business only seniors can do. I'll buy something cheap, sell it for more and keep the profit. What a unique idea but why didn't someone think of that sooner?
Tony P. is offline  
Likes For Tony P.:

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.