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Discussion Starter · #1 ·
I checked several bikes prices on Bicycle Blue Book - Used Bikes and IMO they are way off. If they can sell me a bike for the money that they claim the bike is worth I'll have a basement full of bikes. Where do these guys get the prices from?
Anybody else find this prices/website to be inaccurate?

To get a few
2012 Yeti Cycles SB-95 (Race Build Kit)
BBB Value
$2,311 (Like-New)
$2,201 (Excellent)
$1,981 (Good)
$1,475 (Fair)

2013 Niner Air 9 RDO XTR
BBB Value
$3,498 (Like-New)
$3,331 (Excellent)
$2,998 (Good)
$2,232 (Fair)
 

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> /dev/null 2&>1
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Hmm, interesting. Couple things:
I find prices vary pretty dramatically both geographically and seasonally.

Dead of winter, bikes both new and used go a LOT cheaper than now, when the mud is drying, the snow is melting, and people are getting their tax returns.

Secondly, I find craigslist (where sellers don't ship) prices can vary significantly based geographic location, being cheaper the further you are from good trails. On ebay and other sites which are buy-and-ship, prices are a little more stable.

Thirdly, in my observation, S and XL bikes go a little cheaper. I haven't figured out why. It makes sense that demand is lower for these sizes, but you'd think that supply would also be lower.

Anyways these factors can skew the avg price on bbb and it may seem to low for some and too high for others.

But that being said, you may be right. And I haven't figured out where bbb gets its data:

You can scrape eBay and get prices for completed fixed price and auction listings but not best offers. This is a pretty good source for market prices.

Other than that, there's no reliable source for sold prices. On Craigslist, pinbike and mtbr classifieds, you see the list price but have no idea on the actual negotiated final price.
 

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Your Best Friend
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Their prices are actually pretty accurate and are an average of that bikes going prices across the web.

From their own site:
The Bicycle Blue Book Promise:

Our database contains 7+ years of transaction data for bikes built all the way back in 1993. Using a proprietary algorithm crafted by a combination of bicycle industry veterans and technology experts (herein referred to as nerds), we feel confident that this is the best used bike valuation tool you'll find anywhere online.

Accuracy Matters

We've pored over two million sales records – both for bicycles and bike related items – filtering out the good data from the bad. From that good data, we can give you the most comprehensive, reliable, accurate, up-to-date valuation for your used bicycle based on year, make, model, and MSRP. In fact, if we don't have all of the necessary information, you're the first one to know. Wrong valuation is no valuation at all. That's why data is our top priority.
 

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It's about showing up.
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Base on 6 bikes I checked I think they are pretty good. I wish the two bikes I am selling were worth more but the market response is about right.
 

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they probably jsut steal all there data from ebay sold listing which are the actual onilne market value for selling a used bike. bike blue book website pretty useless in comparison.
 

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They seem to give decent ball park figures from what i've seen. As always, this doesn't account for what a seller "thinks" his bike is worth.
 

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a quick check on pink bike shows similar bikes to those you mentioned and yup pricing is correct. And they are still best offer. The used bike market is huge and the original purchaser takes a big hit on the initial price they bought it for. That's a good thing for the rest of us right?
 

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Bicycle Blue Book and why we shouldn't use it...

I really hate that site and you should too. First, a bicycle is worth whatever someone is willing to pay for it. It's been that way for years and people on ebay and craigslist find out what their bike is really worth based on if it sells for the asking price or not. But the reason that site should not used is for YOUR sake. Your insurance. Here's two examples why it doesn't benefit any of us. (FWIW, I've worked at bike shops for the past 13 of 15 years.)

I went to my insurance agent for renters insurance (Allstate FWIW). I told him that the retail of the bikes in my apartment were about $20,000 and the rest of the stuff was X amount. He gave me a price and the explanation that it covers fire and theft. I asked him that if the bike got stolen off the truck, does the renters or the car insurance cover it? He told me that the renters will cover it. Bill knows that I'm involved with trail building and racing and other stuff too. I asked if the bikes got stolen, how much do I get back? Is there a depreciation? He said that "There's no depreciation because there's no way to know what the fair market value would be. There's no Kelly Blue Book for bikes." He said, laughing. He also called the companies main source and spoke to someone there. He looked at me shaking his head no and said to the other person "he's not a professional rider". After a minute of being on the phone he hung up and explained that if I was a professional rider, the bicycle company that I raced for would be the one who covered the lost or stolen bike since they're the actual owner of that specific bicycle. He also said to keep the receipts somewhere safe in case I need to show how much the bike was worth. Therefore, if my now old Sunday was stolen, I'd still get my $5,000 back from Allstate as long as I have the proof of purchase. Even though that bike is discontinued and IH is out of business, I still have proof and a check will be given for that amount. With Bicycle Blue Book, the insurance companies can now grade your bike and only give you what the site says it's worth. Is that good for us?

Proof that insurances pay you 100% for your loss was when I was at the shop and a guy came in to buy a bike to replace his stolen Trek Y22 carbon from the late 90's early 2000's. He was in Atlantic City and they cut the cable and took off with the bike. Caught on camera and written up by the police, they told him that they'll never get it back and to turn it in to his insurance. He called Trek and asked what todays equivalent was. They told him that the Fuel 9.8 or 9.9 was the equivalent in todays market. He had to pay us a $500 deposit and have us write up a receipt with todays current cost. The idiot wanted 2 mirrors, a saddle bag, tools, a rack, a bag for the rack, head light, tail light and bar ends on it since that's what his old bike had on it. We wrote it up and ordered it for him. He asked Bill to "mark it up a little", but Bill told him he wouldn't because the insurance company could simply call without identifying themselves and ask how much one cost or look it up online themselves. Bill told him that the shop could get in trouble for committing fraud. The guy backed off and let Bill do it the way he should. He turned in the receipt to the insurance company and they wrote out the check. When we cleared the check, the guy came by and picked up this beautiful bike that was ruined before it even left the shop. Point? A bike that we wouldn't pay $500 for today, but meant something to the owner was replaced by the insurance company without any hassles. We see this about 3 times a year where people have a bike with sentimental value and they contact their insurance. Sometimes it's only a $400 bike and they have a $500 deductible, but LOVED their bike and want the same one.
Today or tomorrow though, we might be told our 2 year old custom build that we did on our own and cost us $6,000 might only be worth $1,200 based on Bicycle Blue Book.

Thoughts?

Ttyl, Fahn
 

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Redcoat
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its a good guide to what the market is selling them for. but only a guide its not the end all.

what your saying is we just make up a price? craigslist is that way ----->
;)
 

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So the (low) moral(es) of this story is that if Bike Blue Book keeps on existing, and insurance companies find out, then we can't stick it to the insurance companies, and end up getting far more than we know our bikes are worth?

I wonder why my premiums are so high...
 

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what your saying is we just make up a price? craigslist is that way ----->
;)
Yep. That's how it worked for years. You don't have to buy it if it's too high and the seller won't sell it if it's too high. Right?

My renters insurance was $15 a month. If you shop around you won't overpay. That's what I found out. But if you for some reason think that your insurance is going to come down now, we'll good luck with that. But when you need your insurance, let's see if they pay you the original value or a deprecated value? Fahn
 

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> /dev/null 2&>1
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Re: Bicycle Blue Book and why we shouldn't use it...

So, what you're saying is, we shouldn't rely on bicycle blue book for private sales, because insurance companies either aren't aware of it or don't trust it.

That's a non sequitur. BBB isn't perfect but we shouldn't expect it to be. Bike prices vary significantly by season and geography. The same bike will go for much different prices in Dec vs April. The site doesnt have a good way to account for upgrades, because the upgrade landscape is so diverse. But despite those limitations, it's a decent starting point but it should be correlated with other sources like eBay, Craigslist, mtbr and pink bike, regardless of whether you're the buyer or the seller.

Kelly blue book is far from perfect as well and it can be off by +/- 20% for similar reasons.
 

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Allstate offers two types of renters insurance. The version you got is less costly not because of BBB.
From their site---

Will my policy pay to replace my belongings?

The value of most of your belongings decreases over time. With Allstate® Renters Insurance,
you are able to choose one of the personal property coverages below.
• Actual Cash Value typically means your belongings are covered for their replacement
cost minus depreciation. Depreciation is the decrease in an item's value due to its age,
condition or other factors.
• Reimbursement Provision typically means your belongings are covered for the amount it
would take to replace them at the time of the claim. Premiums are usually higher for this coverage.

Here's how the Reimbursement Provision works: ◦First, we pay you for the Actual Cash Value of the item
◦When you replace the item, we issue a separate check for the remaining amount
needed to make the purchase.

Price out the replacement value variety(general name in the market place) between companies and buy the coverage you are trying to concoct.
 

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o°<o NYC pebble jumper!
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While generally the BBB can only offer a general idea of what a bike is worth, I do not feel that insurance companies can use that for a general guide line.
When you have something like KBB which has established itself based on vehicle deterioration due to mileage and condition and sales at local auctions. Bicycles do not offer the same type of guide to base pricing on. A $1000 bicycle can be purchased hardly ridden and still have the little hairs on the original tires, but be sold for $50 because the owner wants to get rid of it. There is no definitive on how many miles you put on the bike, the amount of wear that went into "X" miles.
So it can only BBB can only be based on what they see monitored on a site like CL or Ebay. Hardly a solid method of determining what the value of a bike can be. Until a solid method of determining the depreciation of a bicycle other than age, BBB is only as good as an open source method of reference.
If per say now that bicycle shops created a nationwide auction house of used bicycles, documented regional sales, the same way KBB does... and sold/resold those same bicycles based on condition, wear etc. Then insurance companies would look into that as being a pricing guideline that they can follow.
 

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Your hate it, just because it doesn't suit your current financial needs?
I'm sure KBB, when it started, was not very useful or accurate. But that has obviously changed.
Did it occur to you that BBB will do the same? And that someday, when it has improved to the level that KBB has, that it might be useful to you when selling a bike?
What will you do then? Like it for that one time, and then return to hating it?
See my point?
 
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