And the "Overpriced Beginners Bike of the Week Award" goes to...

[Scorp]

So, I'm a newbie who's shopping around for my first bike, and what I'm finding on Trade Me is that there are a lot of second hand bikes that are way overpriced.

So I thought I'd have a little constructive fun by starting an "Overpriced Beginner's Bike of the Week Award."

Based on the 20/20 rule of thumb for depreciation: that a new bike depreciates by around 20% the minute you drive it out of the showroom, and then by 20% every year after that, posters can nominate Trade Me listings they think are the most overpriced. Then at the end of each week, I'll pick a winner, taking other factors like damage and mileage into consideration.

You never know, we may even shame some unrealistic sellers into re-listing at more sensible prices.

Anyway, my nomination for the week goes to this little doozie...

2008 Kawasaki Ninja 250 - asking price, a wopping $7,000



Yep, that's a two year old, second hand Ninja with 5k on the clock and an unknown history for $7,000 when anyone in NZ can buy a brand new, fresh out the box 2009 model from a dealer with 2 years warranty for just $995 more.

By the 20/20 rule of thumb above, that's at least $2,000 overpriced, maybe even as much as $3,000 depending on when it was registered!



P.S. I'm not advocating that beginners buy new bikes - just that people selling second hand beginner bikes get real about prices.

« Post your nominations for "Overpriced Beginner's Bike of the Week" below »

[Supermac Jr]

and how did you value the gear in this instance. looking at what is included I don't thinks its that bad...

[bogan]

dont want to nitpick, but the brand new one is an 09, and the old one is an 08, so only 1 year between em, or only 600$ overpriced by your rule of thumb. Also if the 08 cost 9k new then its not a bad deal by your rule of thumb. I would nominate this one for the typo in the price box!

[vifferman]

I'd nominate any bike that has "awesome" in the description and that isn't at least 140 hp and modified. I've ridden only one bike that filled me with awe (was shaking for a while after I got off it) and that was when I was only 18 and the bike in question was the fastest in its class in Australasia at that time.

[Scorp]

and how did you value the gear in this instance. looking at what is included I don't thinks its that bad...

The gear is a separate price and a separate issue and no use to anyone who isn't the same size and needs it. The bike is $7,000 and way overpriced when a brand new one costs $7,995.

dont want to nitpick, but the brand new one is an 09, and the old one is an 08, so only 1 year between em, or only 600$ overpriced by your rule of thumb. Also if the 08 cost 9k new then its not a bad deal by your rule of thumb.

The 2009 bike is brand new, as in virgin, never driven, never dropped, never soiled.
The 2008 bike is 2 years old, because this is 2010 and it was driven out of the showroom in 2008.

Was the new price of the 2008 Ninja really $9,000? If so, the seller has a point, though it's still not even close to good value. Is anyone really gonna fork $7k for a second hand bike with 5k on the clock and an unknown history, when you can get a virgin 2009 model for $7,995 with a 2 year warranty?

I would nominate this one for the typo in the price box!

Sweet

[bogan]

The 2009 bike is brand new, as in virgin, never driven, never dropped, never soiled.
The 2008 bike is 2 years old, because this is 2010 and it was driven out of the showroom in 2008.

Was the new price of the 2008 Ninja really $9,000? If so, the seller has a point, though it's still not even close to good value. Is anyone really gonna fork $7k for a second hand bike with 5k on the clock and an unknown history, when you can get a virgin 2009 model for $7,995 with a 2 year warranty?

ahh, but assumption is the mother of all fuck ups is it not? while the bike is a 2008, it could have been driven out of the showroom 2 months ago, making it a new 2010 bike (by your definition) with only the showroom devaluation to take into account. Actually thats another point, the second you drive out of the dealer the 09 is only worth $6,400, while driving off on the 08 would still be worth $7k. See where your rule of thumb gets you? Just find an awesome bike you like and buy it, far easier!

[EJK]

Can't beat Yamaha V-Star 250.

Heres 2 year old 2nd hand one on Trademe.
http://www.trademe.co.nz/Trade-Me-Mo...-269922957.htm

A brand new one costs a whooping over $10,000 NZD.


...for a beginner's CRUISER!

[Scorp]

ahh, but assumption is the mother of all fuck ups is it not? while the bike is a 2008, it could have been driven out of the showroom 2 months ago

5,000 km in 2 months? Unlikely. Plus the ad describes the gear as "less than 2 years old" My guess is (and yes it's an assumption) that the bike was registered in 2008, and has probably been on the road for more than 1 year, hence: 20% the day it left the showroom, and 20% for the first year. making it 2K over priced (absolute max 3K). I think a more realistic asking price would be about $5,500.

making it a new 2010 bike (by your definition)

Not by my definition at all. Guess you misread me.

Actually thats another point, the second you drive out of the dealer the 09 is only worth $6,400

Only if you sell it the same day for $6,400. If you ride it, it's worth what you paid for it... until you sell it. Then it's worth what the next guy pays for it. That ninja listed is only worth $7,000 if some fool actually pays $7,000 for it. If that happens I'll happily admit I'm wrong about the actual value of used 2008 Ninjas.

while driving off on the 08 would still be worth $7k.

I could pay a million for it today, that does not mean it would be worth a million. It's only worth $7,000 if someone pays that much for it. And no one will.

Just find an awesome bike you like and buy it, far easier!

Don't worry, I plan to. There are some perfectly reasonably priced second hand bikes out there. I'll be buying one of them in the next couple of months. But I bet you that Ninja above is still knocking around long after I've bought a better value bike.

Be honest, now, if you were shopping for a recent model bike of whatever size or model, would you really chose a second hand '08 with 5,000kms on it over a virgin, fresh out the box '09 with 2 years warranty costing just 14% more?

[avgas]

Just some food for thought.
1998 RG150ES was $2999 in 1998, this also came with 1 years free insurance and a free helmet. FOB.
I notice a few around now for just over $2K.
Likewise I bought a 1988 GB400 for $2,100........sold it a year later for $3,400 (In total I spend $2500 cleaning it up, but also put 20,000Km on)

Buyers pays market.

[blackdog]

If you ride it, it's worth what you paid for it... until you sell it.

I could pay a million for it today, that does not mean it would be worth a million.

come on, now you are contradicting yourself....

[EJK]

Just some food for thought.
1998 RG150ES was $2999 in 1998, this also came with 1 years free insurance and a free helmet. FOB.
I notice a few around now for just over $2K.
Likewise I bought a 1988 GB400 for $2,100........sold it a year later for $3,400 (In total I spend $2500 cleaning it up, but also put 20,000Km on)

Buyers pays market.

Yep, A Suzuki FXR150 was priced $3490 back in 2001 (or was it 1999?) and still you can see Red Baron selling them for $2999. Preety strong resale value? Or rip off?

[bogan]

5,000 km in 2 months? Unlikely. Plus the ad describes the gear as "less than 2 years old" My guess is (and yes it's an assumption) that the bike was registered in 2008, and has probably been on the road for more than 1 year, hence: 20% the day it left the showroom, and 20% for the first year. making it 2K over priced (absolute max 3K). I think a more realistic asking price would be about $5,500.

yeh, 5000k in 2 months is unlikely on a 250, but doable.

Only if you sell it the same day for $6,400. If you ride it, it's worth what you paid for it... until you sell it. Then it's worth what the next guy pays for it. That ninja listed is only worth $7,000 if some fool actually pays $7,000 for it. If that happens I'll happily admit I'm wrong about the actual value of used 2008 Ninjas.

Hey don't blame me, I'm just running with your rule of thumb here!

I could pay a million for it today, that does not mean it would be worth a million. It's only worth $7,000 if someone pays that much for it. And no one will.

Exactly, it aint worth, dealer price minus X minus Y + .... its worth what someone will pay for it

Be honest, now, if you were shopping for a recent model bike of whatever size or model, would you really chose a second hand '08 with 5,000kms on it over a virgin, fresh out the box '09 with 2 years warranty costing just 14% more?

nah, course id choose the later, but that doesnt mean the 08 is the overpriced bike of the week, i think the RGV has more votes now anyways

[Mully]

This thread is going to be awesome.

I can feel it.

[avgas]

Yep, A Suzuki FXR150 was priced $3490 back in 2001 (or was it 1999?) and still you can see Red Baron selling them for $2999. Preety strong resale value? Or rip off?

Its funny you mention that. Colemans had my (YES MINE) old RG for $3200..........bike sat there for for at least 6 months.
Mind due at this point it already had a rebuilt motor.
81TUF where for out thou 81TUF.

[Genie]

actuallly that's a damn good deal, 7 weeks ago i bought same bike, pants, jackets, boots, gloves, helmet...coulld almost be my gear on there, same jacket, boots...cost me just over 10K so stop complaining. that is an awesome price. Buying in the 250cc range needed for beginners is a tight market and the new ninja holds it value. Keep looking you will learn so much.

Have fun finding a fun bike and enjoying riding....silly to say that because you just will!