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Determining market value for used bikes

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pioneer01

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Discussion starter · #1 ·
Does anyone have any tips on how to judge the correct market value for used bikes posted on Craigslist? Is there a common depreciation % that can be applied to each year of age?

I ask because I am interested in a 2007 Gary Fisher Rig posted on my local Craigslist with an asking price of $700. I was thinking of offering $500, but have no idea how to determine a fair market price. Any tips would be appreciated. Thanks!
 
#2 ·
pioneer01 said:
Does anyone have any tips on how to judge the correct market value for used bikes posted on Craigslist? Is there a common depreciation % that can be applied to each year of age?

I ask because I am interested in a 2007 Gary Fisher Rig posted on my local Craigslist with an asking price of $700. I was thinking of offering $500, but have no idea how to determine a fair market price. Any tips would be appreciated. Thanks!
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The only way to estimate is to know the new price the condition the components ext. The only way to really know is from experience in the sport. For example when you first start biking all of the parts look good even the cheap ones because of shiny paint and stickers. You really need to know what to look for and the prices to be able to estimate. If you post the model and year I will tell you if its worth it.
 
#3 ·
In general--unless it's pretty much a brand new but lightly used bike--I wouldn't pay much if any more than 50% of the original value of the bike. And incrementally less the older the bike is. I'd also value it against new bikes and see where it 'fit in' based on components and features.

Not sure how reliable bikepedia is, but it might give you an idea of the price when it was new.
 
#4 ·
When buying a used bike here is a formula I use:

Age % of MSPR
2-3 yrs 50%
5-6 yrs 33%
7-8 yrs 25%

+10% if the bike is in pristine/new condition. -10% if it needs some maintenance. Don't buy if its bad and been abused.
Also, name brands like Trek, Specialized, Gary Fisher, etc, typically have a little higher resale value so you might add 5-10%.

The 07 Rig had an MSPR of $1200 (bikepedia.com), so $500 would be a pretty good deal (if in good condition). $600 (+/- $50) is probably the fair market price. I'd test ride it and offer $550 and go up if you like the bike.
 
#7 ·
Was looking at this bike it's a 2006 Trek Fuel Ex8

Guy said he would take $800

Would be my first bike and hopefully be able to keep it for awhile...what do you guys think?
Only problem I my have I that I am 5'9" not quite 5'10" is this a problem if I feel comfortable on the bike?

Here is the craigslist post (can't post links yet cause I'm a new member)

2006 Fuel EX8 for sale. $900 (paid $2,250) Original Owner, bike has been responsibly ridden, is in excellent condition and in perfect working order. No dings, chips, or any damage whatsoever to frame or components. Professionally tuned by bike shop in 2011 ($75 value with receipt from Bicycles, Inc)...has not been ridden since! Always stored inside my house (not garage). Includes Cat Eye Bike Computer, Frame Pump, and 2 Water Bottle Cages.

Upgrades: Shimano Deore XT M772 Rear Derailleur; new Shimano XT Cassette; new Shimano new SRAM chain; new brake pads/with fresh hydraulic fluid.

Frame Size: 19.5"/49.5cm (good size if your height is 5'10" to 6'2")
 
#9 ·
I generally, with cars bikes or whatever, see what they are running in a given area. If there isn't anything to go by, such as there aren't any others around, you are pretty stuck unless the seller really needs the money. I call or ask and am upfront about what I'm willing to pay while making it painless for the seller.
 
#10 ·
It's worth what someone will pay for it. Half the vale when new is a reasonable starting point for a bike a few years old with normal wear and tear.
 
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#16 ·
moefosho said:
Bringing the thread back from the dead eh?

.
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70sSanO said:
The original OP may still be negotiating. Since it is now 3 years older, he has more leverage.

John
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:p

Thats rich John.. I got a bad habit of doin that..

I forgot about the Gary Fisher Hoo Koo E.. To old

Now talking to the owner of this 2011.

I want to hold for $250 but doubt he will sell for that since it " has upgrades" which is to time consuming to determine a value on..

I'mmean a car isn't a car unless it has wheels. And a battery.. etc right?

Nexave hubs? meant for the comfort bikes? I think not. You can waste allot of time doin this..

Image
 
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