mikeybikes

I just paid way too much for an old Miyata. It was what I wanted though after waiting for so long to find one.

Anyone else pay too much for a bike? How do you cope?

jet sanchEz

I've never paid too much for a bike but I have re-sold them for too little, which can be a bummer.

It sounds like you really wanted the Miyata so I don't think that you paid way too much, you paid what the bike was worth to you.

sciencemonster

I always pay too much. And then I turn around and sell them for less.

That's why it's a hobby, and not a business.

nwbikeman

I am always more interested in the older frames and the paint, over components. But depending on the bike specs. I usually upgrade it to something nicer and better than the original set up. Or I find another bike with the parts I want and swap it and sell off the bike I don't want. And then if I sell the nice bike I usually at least double my money because of the upgrades.

auchencrow

There are times when I pour time and money into a project, only to break even after buying all the new parts to rehabilitate it, but I only consider it a loss if I go into the red on the project + material costs:

- I think that is most likely to happen when there is undisclosed damage (e.g., an unrepairable dent in a tube ) or, if I buy impulsively because of a Reynolds label.

marley mission

exactly

KonAaron Snake 

I usually rationalize it to myself one of a couple ways...

"I paid for it with flips, so no real harm done". This way hasn't been effective for me lately because I haven't been nearly as active buying or selling the past year.

"Everyone has a vice, at least I don't gamble, drink or smoke"

"I got great deals on x, y, and z...they can't all be steals"

"I deserve it because ____ (fill in the blank with whatever compliment I managed to get that week)."

thenomad

Ride it more.

aixaix 

Nothing objective about "too much". I wouldn't pay $100 for a Miyata, but many would. If I found a handsome, solid 21" Frejus track frame from the 50s, I'd pay way too much by some people's standards.

The standard to apply is simple in theory: do you want the bike more than the money? Another way to put it: are you going to regret owning the bike more than you'd regret passing it up. Assuming you didn't bankrupt yourself to buy it, I can't see why you should feel bad.

aixaix 

Aaron has it exactly right!

ScottRyder 

Three years ago I bought an Raleigh International .. I felt at the time it might be too much money. Nowadays it would be a steal.

Scott

scozim 

When I look at the crappy paint on my Gitane Tour De France I sometimes feel like I paid too much. Then I get on it and ride and forget all about what I paid.

tmh657

I have overpaid for a few components because I saw it, wanted it, didn't want to miss out on exactly what I needed at the time and did the research afterwards. Like a 1" carbon fork that was local and never used. I overpaid by about $25 but justified it by telling myself, I didn't have to pay shipping or wait for the ebay auction to end and got to look at it first.

I may overpay for a frame very soon, (or full market value) and I am preparing many excuses for myself, (and the spouse). I better get busy and write them down.. No, I will type them in Word and put the file on a thumb drive, yeah.

buldogge

I feel I usually get bikes and frames for reasonable prices...but...I sometimes overpay for components.

i.e. I just bought another saddle, old stock (supposedly) and just as expensive as a guaranteed BNIB model...but...I liked that it was a bit different.

Sometimes you can't help yourself...it's a hobby. Part of the "fun" is the pursuit. Otherwise, we would just find one well riding bike and ride the sh*t out of it!

Bianchigirll 

everytime I buy a bike I feel a twinge of buyers remorse or feel like I may have paid too much.

miamijim

Same here....I bought a Colnago with filed off top tube guides for $500 and a GT road bike for about $150 with a broken seat collar. I barely broke even on both but thats not a big deal, I've barely broken even on alot of bikes but the Colnago I over paid for and the GT I shouldnt have bought.

rogerstg

How much is too much? I paid $750 for a '91 Miyata 1000 , but only $280 for a mint '87 912. It all evens out eventually.

OK, maybe the 1000 was not "way too much." but it was a bit high. OTOH, I got the touring bike I wanted and would have spent more on a new ride, even with the upgrades to the Miyata.

KonAaron Snake 

I've only really taken a bath on one flip...I bought a Raleigh Professional frameset, one of the newer ones from Columbus Zona...and didn't really know the market. It had some damage I didn't see, I sold it on ebay and ended up out most of the money. I've made a very nice return on all of the others...and the positive has far outweighed the negative.

On at least 2 of my keepers I put more in than I can probably get out and I'd be lucky to break even on 2 others. The rest I'd make money on...but I'm fine taking small losses because I paid for the stable almost entirely with flips. It's a hobby, you have to pay for it.

bikemanbob

I won't buy a bike unless I think I can sell it for more than what I've paid. Also, before I buy a bike, I consider the additional money needed to restore it. If the cost of the bike plus the cost of restoration is more than the value of the bike, I won't buy. On a few occasions, I've run after bikes that I was uncertain of the value (you must move fast to get the best deals), but in each of those situations, the outcome was good. For me, my bicycle hobby must be profitable (or at least break even). Only on a couple of occasions did I pay the value of the bike.

bennie222

If you're in detroit, you should flip houses.. I hear houses there are cheaper than Raleigh Professionals...

triplebutted

Hello, my name is Eric and I pay way too much on my bike[s].
Everyone chime in: Hello Eric!

mikeybikes

I knew someone would ask this. $275 for a 610. Gorgeous bike though. I'm going to take the parts from my touring bike I built up with the crappy Nashbar Touring frame and put them on the 610. It'll be my commuter/light tourer.

kccomet

ive had a lot more remorse over bikes i didnt buy or couldnt get bought than ones i did see drysdale special

mikeybikes

At least I'm not the only one with buyer's remorse. I do justify it though as I am pretty awesome and started a new job that pays to compensate for my awesomeness.

funkflex

Nope. Ive spent less than $100 on each of my keepers. I look for deals so regardless of what happens I'm never upside down. Patience is the key.