[Closed] That magic 'formula' for pricing 2nd hand bikes?

I’d start at 50%

I tend to work on price halving or so each year. Variation for condition and wear, or obselete parts/standards.

50% off in the first year, 10% off every year thereafter if in used but looked after condition

Depends on the demand/desirability of the bike doesn't it? I'm still surprised by some of the prices santa Cruz and yt Capra bikes go for second hand. I've been tempted to sell my Capra a few times given the prices I've seen them go for (2 years old, lower spec and still 2/3 of what I paid), but then I wouldn't find a better bike for the money so not worth it.

Thanks.

So it wouldn't be unreasonable to start an immaculate, reasonably specced 12 month old plastic gnarsled at say 60% ish (ouch) of its original price?

Doesn't eBay sort this out for you? Decent photos and a good description, and then leave it to the market.

I've always started sales off at £1 (much to my wife's horror) and offered to post them. Two Islabikes went over what I'd have offered them at, while my Specilized Camber got a lower figure than I'd have liked. If there are enough people looking/bidding surely that's what the bike is worth?

Don't see why not. Look at what others are selling for and price accordingly. People will always try and make offers anway

I've personally given up selling on eBay for anything half decent and expensive. Too many chancers/scammers and the fees are too much if PayPal is involved too.

Between pinkbike and here I've sold quite a lot of stuff over the years without issue.

@OP - 60% seems reasonable. We just bought £3.2k / 2yr old gnarsled with spare wheels and discs, just suspension serviced by TF tuned, for £900...

I'd have no problem with a 99p start/no reserve but after recently selling an old plasma on eBay, the place just seems full of time wasters and scammers who seem to insist on collecting at 11pm on a Sunday.

And by the time eBay and PayPal have taken their cut I'd rather just sell it slightly cheaper elsewhere.

Bromptons live in a world of their own...c 20% off in year 1 , some are priced at 10% off. The new list prices have gone up a lot too, so older ones may be appreciating.

Yeah Road bikes don't seem to suffer the same depreciation either. I guess that makes sense. MTB are much more likely to be crashed/scratched.

MTB are much more likely to be [s]crashed/scratched.[/s] rendered obsolete by ever changing standards...

jca +1 (and BNG)

There is no magic formula - just have a look whats stuff seems to go for & base your own items on that.

I don't think i've ever sold a bike at a year old at 50% of it's RRP.

So how does this work on bikes that are still available as 2017 or 2016 bikes new (at a discount) vs secondhand? I’m looking at a bike that was about £4K rrp, but is now available new for about £2.6k, or s/hand on eBay for about £2k.

Should the 50% 1st year reduction be on the rrp, or the current new/discounted price?

Any views?

Nick

The 50% is a decent rule of thumb, more desirable bikes, modern spec, modern geo, will hold better, whereas obsolete ones not so. Case in point, I have my Soul (last of the 26’ers) with top spec, when new cost around 2.5k, on the local FB bike sell pages at £550 and no takers. Sometimes split will be the best way, but it’s a hassle for the seller I guess.

Should the 50% 1st year reduction be on the rrp, or the current new/discounted price?

[b]Any views?[/b]

Nick

Aye, what hobnob says, he's spot on.

Just sold a four year old 26-er for 45% of list price. Ok it was an immaculate XS Giant Talon 1W ladies HT and has gone to a lovely lady of limited stature. This was instead of her dropping 2K on a full bouncer before she was sure she wanted to seriously get into off-road. The formula would suggest it was worth about 25%, which is patent nonsense.

Both parties delighted with the outcome, which included a full bike fitting and set up. So it depends on the scarcity and condition.

Depends how many idiots you have access too.
If it's good condition and hard to get hold of/expensive then it could go for more so long lead times on YT or sc pricing will help you. Something from specialized where everyone got one and they are selling new at 25% off you will struggle.

Sold stuff via Gumtree and Facebook recently here in Oz. Most of my replies said not in a rush to sell.

Case in point, I have my Soul (last of the 26’ers) with top spec, when new cost around 2.5k, on the local FB bike sell pages at £550 and no takers

It's a while ago now but I sold my Soul frame and 1 1/8 Float 32 140RL for about £200 each.

It's a while ago now but I sold my Soul frame and 1 1/8 Float 32 140RL for about £200 each

Aye, split if you can be bothered Iain, sold all the bits off my spectral recently for just over £1000, less fees mind. Reckon I'd have been lucky to get that for the full bike, and I still have the frame to sell.

^^^^ nobeer, yes, you are right. I'm away a bit this week with work, so will get it advertised etc at the weekend...

What were the actual figures tired as you seem to be misunderstanding the actual (completely made up) formula going by your statement

It seems to work quite well if you half rrp after year one theb every subsequent year remove 10 percent from the previous valuation in

2000 rrp
Year one 1000
Year 2 900
Year 3 810
Year 4 729

And so on. Obviously certain bikes brands and sizes condition alter this but it seems to work pretty well for mainstream bikes in popular sizes.

Even worked on my 18 month old shand which upset me greatly :(.
but after trying a few years back to shift a Turner I almost doubled what it was up for by splitting so swings and roundabouts

Is this the carbon Patrol? That's a well-regarded bike that should be in demand.

Original price not as relevant as what you can get them for now. And whether it's been superseded by a new model.

What you think it's worth ÷ 2

Is this the carbon Patrol? That's a well-regarded bike that should be in demand.

+1, a lot of it depends on the demand and the frames reputation.

You sometimes see frames in mint condition but with a reputation for cracking going for peanuts, equally you can still pay £700+ for a 7yr old Cannondale Prophet* on ebay that would only have cost £1200 new. Equally I watched an Ellsworth Moment go for half that (I just fancied a pair of 36's) which must have cost 3x what the Cannondale did new.

*not a great example to oppose my first point!

Ebay auction is probably still the best bet if you want to sell in any reasonable timeframe. I'm happy to just stick it on Pinkbike at a reasonable price and wait for someone to agree with me.

Yes chaka, 2017 carbon Patrol (metric Deluxe model).

Lyriks, Flow 3's on Pro4's, Sixc cranks and bars, E4 brakes, 11 speed XT, B1 stealth Reverb, Invisiframed etc etc etc.

In case anyone would like to magic up a figure? 🙂

What was the RRP? How much did it cost you? What do you want for it; you must have some idea? 50% of RRP is a good guide I think.

Sounds like some decent parts, you could always split it up. The key is to not be in a rush to sell; you'll almost certainly get your price if you're prepared to wait. Plus, if a buyer is prepared to pay an honest amount, then the chances of them being genuine is greater I think, especially someone buying a high value item like your bike.

So, stick it on ebay, BIN or Best Offer with a high price. Be prepared to decline countless offers and wait for someone who appears to be genuine. If you're a good judge of character then you should be alright.

One thing I personally wouldn't do is post a bike though, seems like a greater potential for something to go wrong.

Thanks David.

For the first time, I've actually added up what it cost to me.

It stands me at £5500. I'd rather sell it complete but if the frame went first I wouldn't mind splitting it for parts.

There's no way I'd post it, I'd sooner drive a couple of hours to meet someone.

Thanks for all the advice, I'll have a think and maybe cobble an ad together.

So about £3000 complete?

I honestly don't know if that's a suitable price or not as I'm not too clued up on the high end MTB market. I know I wouldn't spend three grand on a second hand MTB though. Not sure how many others would; I can imagine a brand like Santa Cruz probably fetches top dollar second hand. Probably not worth advertising on here, I imagine you'd be wasting your time. FB/PB/Ebay probs best bet.

Also, if you don't mind splitting for parts, do that. The frame might end up hanging around, but I bet the other stuff would sell straight away on ebay, and there must be over a grands worth there? The frame might hang about for a few weeks, or till after xmas. Does it matter?

New in 2013 RRP was 999.