Hey everyone.
Guess what?
I'm the guy who sold the Portage from the original post. And it wasn't $1,800, it was
$1,825... plus $200 for professional boxing and shipping. I posted it at midnight on Saturday. I got up on Sunday morning and it had already sold.
How did I come to my price? Well, first, it was a time capsule. Second, I spent a good chunk of time on it, just like you all do. I don't flip bikes but I do buy quality frames and put solid, great functioning equipment on them. I don't rush the job, skimp or cut corners because I want these steel beauties to stay on the road for decades to come. Third, who here has heard of the
Radavist? Well John put his
'87 Ritchey up for $1,800 and it sold in a day. Sure, it's a Ritchey and a nice bike but after it's been rode hard and in so-so shape, it was wiped down and slapped up on eBay. It had the Radavist name associated with it so likely that helped for the immediate sale. I thought, certainly
"if he put his rarity up for that much, I can too when mine looks like this". Fourth, did you see this guy who attempted to sell
his beat up 'ole Portage for $2,200? It didn't sell but he did pull it down for whatever reason so maybe it did offline? Maybe not. But it didn't hurt as a comp for my pricing comparison. So, knowing where we are in this world of inflation, knowing that Portage bicycles are a slightly rare breed, the condition and the size (which we know that extremely large or small frame size is a niche market and fit is key so those people are looking for a
very specific bicycle) but most importantly I know that on eBay I have a
world market. Yes, it's a pain. Yes, problems can come up. Yes, it's not to "mi familia" C&V forum folks but to some on eBay, that price is nothing. To others, like you, it's insanity. People will pay handsomely for scarcity, quality and something that is done so they don't have to think about it. And that's what this person paid for. It's economics 101, right?
So, I have to say, the title of this thread is correct, stand up, price your product accordingly to a modern, world market and be willing to pay the painful price of 12% to eBay, which is $219 I paid those jackals to help me sell my Portage for all you out there bad at math. So, I net $1,606, plus the $200 for boxing and shipping (which I'll need every penny). I love selling at a discount, or even giving away, things to the C&V group but we are a, shall we say,
thrifty, bunch and most figure they'll wait it out, year after year, until they can find whatever it is they want at a rock bargain price. But, some are out there that will just pay, have what they want and it's over. Oh, and the individual who purchased it in North Carolina actually contacted me directly a few years ago when I posted another Portage for sale. He's been lusting for one since and this was the magic size along with his birth year grail. Plus, as he said, "They don’t turn up often, and when they do they’re usually either in horrible shape." Ta-da! Buy it Now engaged.
So, I'm not going to get into the appraisal holy wars since we are all smart enough to do our own research on what makes sense for our sale but I figured I'd at least add to the conversation with the impetus for the original conversation plus give some backstory for anyone who was curious. Hope it helps round out the discussion!
Good luck with your sales!