Typically if it's used it's instantly depreciated 50%. But these are extraordinary times, and the used market is quite strong. That also applies to cars and housing. You can look on eBay for recently sold items and see what they got. But I think the used market is going to soften, at least with bikes. Supply is starting (but creeping) to pick up. You can always price a bit higher and have an 'OBO' attitude, but never publish that attitude. But right now, high end if very good condition, I would list closer to 70% of retail and be somewhat firm. Trying to procure high end forks, cranks, etc is hard right now, everything is going towards full bikes, which helps the used bike market.
Used bike prices
I struggle with how to price my used bikes. I think I am chronically under pricing them.
Recently I listed two XC hardtails in size small at a price that I thought was high. Both of them were sold at asking price within 12hrs of listing. Don't get me wrong, I was happy to sell them. But I can't help but think with how quickly they sold and the complete lack of bargaining that I under priced them.
So....
What is the appropriate price for a high-end used bike in near new condition. 50% of retail, 70% of retail? I have always gone with 50% of retail but are things different now. Particularly considering that bikes seem to hold up better than they did.
Recently I listed two XC hardtails in size small at a price that I thought was high. Both of them were sold at asking price within 12hrs of listing. Don't get me wrong, I was happy to sell them. But I can't help but think with how quickly they sold and the complete lack of bargaining that I under priced them.
So....
What is the appropriate price for a high-end used bike in near new condition. 50% of retail, 70% of retail? I have always gone with 50% of retail but are things different now. Particularly considering that bikes seem to hold up better than they did.
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I struggle with how to price my used bikes. I think I am chronically under pricing them.
Recently I listed two XC hardtails in size small at a price that I thought was high. Both of them were sold at asking price within 12hrs of listing. Don't get me wrong, I was happy to sell them. But I can't help but think with how quickly they sold and the complete lack of bargaining that I under priced them.
So....
What is the appropriate price for a high-end used bike in near new condition. 50% of retail, 70% of retail? I have always gone with 50% of retail but are things different now. Particularly considering that bikes seem to hold up better than they did.
I, too, have sold several high end bikes over the last two years. I sold a couple of them complete and got about forty percent of what I paid originally which I thought was a good deal. It's hard to sell a used bike. If you start to get close to some price arbitrarily close to a new price people will balk. I've asked for more but have always been haggled down. These were well-maintained and in good shape.
I almost always get a better price selling the bike parted out, especially if it has a nice carbon or titanium frame. Titanium frames seem to hold their value. I paid $1500 for a Lynskey frame (QR dropouts, non-boost) seven years ago and got a thousand bucks for it a few months back. I sold the Niner RDO fork for $250, half of what I paid, and the wheelset for $500. I got $400 for the XX1 11-speed drivetrain.
So right there I got $2650....about $2200 after shipping and Ebay fees. I tried to sell the whole bike but could never get any offers above $1500 after several months.
Bottom line, and this is my experience, half of what you paid is typically the best you will do. It's fine with me. I got a lot of use out of all the bikes and I can separate what I think they're worth from what people will actually pay. Additionally, and this rubs people wrong, I'd rather sell them for less and get the money to put on the next bike than hold out for a couple of hundred more. I'm not going to lose sleep over a few hundred either way. I have about $6000 in my latest bike. I put some new money into it but three or four hundred bucks didn't really make a difference.
The market is just really good right now, and if you have a more desirable bike it's likely to sell quick. Personally I have never figured out a perfect way to determine pricing on selling used bikes. I just go by what I see on Pink Bike and what I think people will pay. Then I knock a couple hundred bucks off, because I generally want my stuff to sell ASAP. That part is preference obviously, I just hate sitting on stuff for long periods of time, answering texts from people and dealing with tire kickers. I'd prefer to give someone a decent deal and have it gone.
Sounds like you're pricing them right to me, things just sell fast these days.
Sounds like you're pricing them right to me, things just sell fast these days.
Depends how new. If it's a 2021 in new condition, a $7,500 bike can easily fetch $4,500-$5,000 right now. Maybe more. When I sell something though, I'm usually just happy to get rid of it ASAP. I'd rather sell it for $4,500 in two days, than $5,000 in two months. Anytime there's a quick sale you'll always question if you could've gotten more, but sounds like a win-win to me.
The used market where I live has been nutso for a long time. People are selling 1 year old bikes for 10% discounts off full retail. The "barely used" "only ridden five times" bikes are asking full retail. Even before the pandemic, used bike sales here were pretty strong, with people willing to pay 60-70% of full retail. But right now it's just crazy.
As a buyer, I'm not interested in paying more than 50% of full retail. If you're asking more than that, and almost everyone is, I'll just go buy a new bike and get the warranty.
As a buyer, I'm not interested in paying more than 50% of full retail. If you're asking more than that, and almost everyone is, I'll just go buy a new bike and get the warranty.
I sold an entry level full sus bike, Specialized Camber last year for about 60-70% of retail depending on how you count it. I added a dropper on it that wasn't originally there and tubeless, between the 2 I was into it another $350ish. I also got discount from retail when I bought it, so net net I got 70% of my money back after 4 years.
Gone in a weekend, lots upon lots of inquiries. it helped that prices for entry level bikes have gone up. Higher end bikes I could see more depreciation, however, again, prices have gone up on new. SO yeah, its a big discount compared to new prices, but depending on what you bought and when, you might not be out as much as you could have been now that the bike you bought 2 years ago at $5K is now $7K new.
Gone in a weekend, lots upon lots of inquiries. it helped that prices for entry level bikes have gone up. Higher end bikes I could see more depreciation, however, again, prices have gone up on new. SO yeah, its a big discount compared to new prices, but depending on what you bought and when, you might not be out as much as you could have been now that the bike you bought 2 years ago at $5K is now $7K new.
Every time I try to sell something with 'OBO', I add "make an offer, but don't insult me". That has been a very efficient way to get people to insult me. OTOH, I have asked people "At what point would you be insulted?" when they told me to make an offer, so I guess it's payback.
If you like the fast transactions and the price works for you, I don't know if there's really a problem but you could start higher and decrease the price if you don't see any action.
I sold a bike earlier this year and had a few people ask about it. One acted like it was a done deal immediately after his initial message and asked me to deliver it to his nice downtown apartment building, make sure everything was prefect and then, he asked for a better price. The next was a kid who worked as a dishwasher/busser at a restaurant and said he was low on cash. When I asked if he said it would be used as his main transportation and where he lived, I decided that HE was getting the bike, not the guy with the money.
If you like the fast transactions and the price works for you, I don't know if there's really a problem but you could start higher and decrease the price if you don't see any action.
I sold a bike earlier this year and had a few people ask about it. One acted like it was a done deal immediately after his initial message and asked me to deliver it to his nice downtown apartment building, make sure everything was prefect and then, he asked for a better price. The next was a kid who worked as a dishwasher/busser at a restaurant and said he was low on cash. When I asked if he said it would be used as his main transportation and where he lived, I decided that HE was getting the bike, not the guy with the money.
I think 70% of retail is a reasonable standard right now (in Fernie). Small bikes are also selling better than larger bikes, because it opens the market to women and kids. I've seen insane prices on local gear sale pages for clapped out 26er bikes. Full suspension will also sell for closer to retail IMO, because so few people are willing to ride a hardtail or buy one for their kid. Rigid SS bikes are the only value left.I struggle with how to price my used bikes. I think I am chronically under pricing them.
Recently I listed two XC hardtails in size small at a price that I thought was high. Both of them were sold at asking price within 12hrs of listing. Don't get me wrong, I was happy to sell them. But I can't help but think with how quickly they sold and the complete lack of bargaining that I under priced them.
So....
What is the appropriate price for a high-end used bike in near new condition. 50% of retail, 70% of retail? I have always gone with 50% of retail but are things different now. Particularly considering that bikes seem to hold up better than they did.
I keep really good care of my bikes and usually don't have them that long, they are as close to new as a used bike can be. But in my mind a warrantee is worth a lot.
I think part of my problem is I haven't paid retail price for a bike in a long time and I have problem wrapping my head around the price of some of the high end bikes out there. I have one bike that has a retail price if 18K CAD!! At 50% that is almost 5 figures for a used bike. I struggle seeing someone pay that.
I think part of my problem is I haven't paid retail price for a bike in a long time and I have problem wrapping my head around the price of some of the high end bikes out there. I have one bike that has a retail price if 18K CAD!! At 50% that is almost 5 figures for a used bike. I struggle seeing someone pay that.
My Dad had an 4 year old Trek fuel 9 he bought and never rode. It sat in his garage for years. I posted it on craigslist for what I felt was a fair price with some haggle room. It sold instantly and I was getting contacted about it for days afterwards all offering full price and even some for a bit more. It was completely insane.
List high; you can always drop the LP as needed.
The used vehicle market is similar right now.
The used vehicle market is similar right now.
That's a double-edged sword, too- "I can get a lot for my car!" vs "Holy crap, used cars are expensive!" if a new car isn't gonna happen.The used vehicle market is similar right now.
Agreed! And for homes as well. Having an extra one (bike, vehicle, home) laying around is the golden ticket.That's a double-edged sword, too- "I can get a lot for my car!" vs "Holy crap, used cars are expensive!" if a new car isn't gonna happen.
I sold four bikes this past year. I sold them for what I felt they were worth given the year, components, and overall condition. I can't help but wonder where we will be in a year from now. Will housing flatten out? Will car/truck/SUV prices stabilize? Will the used bike market become saturated as newer models become available? I don't see used bike prices dropping, but I'm seeing an increased number of used bikes on the market currently. Crazy times!
I have a 2017 Tacoma and see the same truck for sale at price I paid for it new.List high; you can always drop the LP as needed.
The used vehicle market is similar right now.
I bought a 2005 Tacoma in 2013 with 65K on the odo - it sits in my garage with almost 210K on it and the dealers are asking more for that truck now than I paid in 2013. We're not in normal times...I have a 2017 Tacoma and see the same truck for sale at price I paid for it new.
Agreed. I'm not big on buying used to begin with, probably not the smartest thing, but that's how I am. If I was buying a new bike though, and I saw a good price on a used bike, the peace of mind alone wouldn't be worth anything more than 50% as far as the warranty. If it's a dirt jumper or something like that, maybe a $1,500 hardtail, then maybe, especially with wait times being what they are ... But I'd rather pay $7,000 for a brand new bike with full warranty, over a slightly used $4,000 one without it. Doesn't make financial sense, like even if your frame cracks you can buy a new one and you're still in the green, but I just like new stuff. Especially bikes.I'm not interested in paying more than 50% of full retail. If you're asking more than that, and almost everyone is, I'll just go buy a new bike and get the warranty.
Sold several bikes this year that were hanging and getting no use and of little value. All of a sudden they were worth decent money.
Bought my son a new frame. Why would I pay $2,000 for a lightly used one when $2,200 gets me a new one with a full warranty?!
Bought my son a new frame. Why would I pay $2,000 for a lightly used one when $2,200 gets me a new one with a full warranty?!
Mostly because new frames worth a damn aren’t available.
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