Why are secondhand bikes so overpriced?

[baffa]

Looking for a cheap reliable bike for the missus to learn on, whilst selling my CBR900, and apparently simple basic GNs and similiar are worth similiar value.
You can buy GNs and Scorpios etc brand new for less than $4k, but it costs almost that much to buy a 5 year old model with decent mileage. Go back another 10 years, and the price practically stays the same.

One would think if you bought a 10+ year old basic learner legal bike, theyd have devalued to $1500 or less, but magically they never seem to go below $2k in value. Anyone else notice this?

[Rhys]

Like anything its worth what ever some one is willing to pay !

[Crasherfromwayback]

One would think if you bought a 10+ year old basic learner legal bike, theyd have devalued to $1500 or less, but magically they never seem to go below $2k in value. Anyone else notice this?

Bikes tend to get to a certain level and they're just always worth that if that makes sense. They never keep devaluing until they're worth nothing unless they're totally fucked.

[Akzle]

Like anything its worth what ever some one is willing to pay !

not quite. But somewhere between that, and what youre willing to sell it for...

[Robbie_]

Economics 101; Supply and Demand, And also depreciation curves.
To compare apples with apples, you have to first look for what they are actually SELLING for, not the asking price.

But at the $2k range, any bike that's not fooked' won't depreciate much more. Especially learner bikes. This is because there are a lot more people that can afford a $2k bike than a $5k, $10k or 20k bike. The GN's etc. that you talk about will always be sought after for learners, and learners tend to be young people on a limited income.
There are a few other reasons too, such as a lot of sales are done on finance, and it's not so easy to organise private finance in comparison to a dealership. So for a lot of people, they have to stump up with 100% cash. This further reduces the price ranges of bikes.

And as always, the more expensive new the bike was, generally speaking, the bigger the depreciation curve it will take until it reaches that bottom end ( which equals a much bigger potential buyer pool) for the reasons listed above.

[Maha]

Like anything its worth what ever some one is willing to pay !

Yip, all you can do is make an offer and, fingers crossed, both parties will agree on a price that suits.

[AllanB]

Overpriced?

I disagree as a rule. Maybe the specific bike you are looking for holds it's value well but I was searching Ducati on TM yesterday and I was shocked how cheap a low km used model is. Unsure why but if you were buying yeeee harrrrrrr.

Triumphs tend to hold their value well I have noticed.

There is some good buying out there.

[awa355]

If able to pay cash for a private sale, the final purchase price is quite often below the advertised price.

[Smifffy]

I reckon that at the moment, the price of most bikes has come down a long way from what they were just a couple of years ago. The exception to that is the learner bracket. I'm surprised that Hyos haven't depreciated more tho.

[T.W.R]

It isn't so much that 2nd hand bikes are overpriced it's the fact that the ass drops out of the price of brand new bikes quickly... you buy a new bike from one shop ride it for a few weeks & then try trading it at another shop and see what you get for it <_<

A bike will decrease in value to a point then hold it's value...some start to increase again overtime...appreciating classic etc. and then some within the classic & almost classic will be more expensive than their original purchase price.

learner bikes will always hold a higher price due to the market they're in.

An old boss of mine brought a brand new Jaguar XKR convertible for $220k+ had it for 6mths and decided he wanted to trade up to another model at the same dealership they offered him $70k less than what he paid :facepalm:

[tigertim20]

If able to pay cash for a private sale, the final purchase price is quite often below the advertised price.

as opposed to what, paying in chocolate fish?

[Glowerss]

It isn't so much that 2nd hand bikes are overpriced it's the fact that the ass drops out of the price of brand new bikes quickly... you buy a new bike from one shop ride it for a few weeks & then try trading it at another shop and see what you get for it <_<

A bike will decrease in value to a point then hold it's value...some start to increase again overtime...appreciating classic etc. and then some within the classic & almost classic will be more expensive than their original purchase price.

learner bikes will always hold a higher price due to the market they're in.

An old boss of mine brought a brand new Jaguar XKR convertible for $220k+ had it for 6mths and decided he wanted to trade up to another model at the same dealership they offered him $70k less than what he paid :facepalm:

Mate, that's just dealerships doing what they do. They might offer you bugger all for your near new bike, but you can bet your ass they're charging basically new prices for them once they're on the showroom floor.

http://www.trademe.co.nz/motors/motorbikes/motorbikes/sports/auction-618444990.htm 1 year old 8,000 KM, and they're charging EXACTLY the same as these guys http://www.trademe.co.nz/motors/motorbikes/motorbikes/sports/auction-610772734.htm are charging for a brand new one.

That's why you don't trade a near new bike back into the dealership :laugh:

There is a pervading attitude in NZ though, of "This is how much I paid for it, and so that's how much it's still worth!". Not much you can do about that, though.

[Crasherfromwayback]

Mate, that's just dealerships doing what they do. They might offer you bugger all for your near new bike, but you can bet your ass they're charging basically new prices for them once they're on the showroom floor.

http://www.trademe.co.nz/motors/motorbikes/motorbikes/sports/auction-618444990.htm 1 year old 8,000 KM, and they're charging EXACTLY the same as these guys http://www.trademe.co.nz/motors/motorbikes/motorbikes/sports/auction-610772734.htm are charging for a brand new one.

That's why you don't trade a near new bike back into the dealership :laugh:

.

Ummmm...so you what...expect a dealer to pay you the new retail price for it now it's had one owner and been used? Riiiiight. And the two GSR750's you've used as an example...are actually both used bikes mate. But here's how it works. Lets say you buy a new GSR750...for say...$13000.00. You use it...and it now has had one owner. Even if it's only done 1000km's...you yourself would not pay new bike price for it right? Else you'll just get a new one that nobody else has ridden and owned. So even at 1000 km's...it's gotta be cheaper than a new one generally by a couple of thousand dollars. The dealership wants/needs a margin in it...lets say 2k...nothing wrong with that I would've thought...so you get offered 4k less than it's new retail price if you want to trade it in. What's wrong with that?

[T.W.R]

Mate, that's just dealerships doing what they do. They might offer you bugger all for your near new bike, but you can bet your ass they're charging basically new prices for them once they're on the showroom floor.

http://www.trademe.co.nz/motors/motorbikes/motorbikes/sports/auction-618444990.htm 1 year old 8,000 KM, and they're charging EXACTLY the same as these guys http://www.trademe.co.nz/motors/motorbikes/motorbikes/sports/auction-610772734.htm are charging for a brand new one.

That's why you don't trade a near new bike back into the dealership :laugh:

There is a pervading attitude in NZ though, of "This is how much I paid for it, and so that's how much it's still worth!". Not much you can do about that, though.

:laugh: 5 minutes of motorcycling and you know the ins & outs :niceone: probably had more new bikes than you've had hot dinners

[Robert Taylor]

Looking for a cheap reliable bike for the missus to learn on, whilst selling my CBR900, and apparently simple basic GNs and similiar are worth similiar value.
You can buy GNs and Scorpios etc brand new for less than $4k, but it costs almost that much to buy a 5 year old model with decent mileage. Go back another 10 years, and the price practically stays the same.

One would think if you bought a 10+ year old basic learner legal bike, theyd have devalued to $1500 or less, but magically they never seem to go below $2k in value. Anyone else notice this?

???????????????????? Cynically, there are too many dealers and everything becomes a dutch auction. ''That other dealer down the road will give me $800 more'' Etc etc. There needs to be more self regulation of pricing so that dealers dont over trade and create unrealistic pricing. Customers also need to have realistic expectations and realise that dealers actually have to make a living

[Voltaire]

Overpriced?

I disagree as a rule. Maybe the specific bike you are looking for holds it's value well but I was searching Ducati on TM yesterday and I was shocked how cheap a low km used model is. Unsure why but if you were buying yeeee harrrrrrr.

Triumphs tend to hold their value well I have noticed.

There is some good buying out there.

There are some bargain Ducatis for under 10k, with over 150 on TM they are not exactly as rare as they once were.
The mid 90's ones are at the bottom of their curve and on the way back up.

[george formby]

Interestin. GN's & Scorpios. Big sellers, reliable, cheap to maintain, do exactly what it says on the packet. Benchmarks quite possibly. Just looking at KB n00b threads, GN's are rated highly with Scorpios a popular other style. Despite LAM's these bikes still fit a Learners requirements very well. If you have to pay $2000+ for a good one then that gives a solid indication of the bikes value for purpose. Good tools always keep their value because they just keep on doing their jobs & they can be fixed easily if they don't.
I reckon regardless of capacity, power output, purpose etc. A reasonable, road legal, ride away bike is worth $2000. Less than that then your getting lucky.

You reckon your CBR 900, 97? Is worth the same as a GN? Eek. I hope not. CBR's stay fit for purpose if loved & a good late nineties bike still has to be a lot of fun for mortals. Best of luck in your sale & purchase.

[sketch]

when i brought the ninja i trawled tm for weeks and the bike i ended up getting had been on there for ages, ended up with a mint condition lows kms bike for a good price....... patience was the key to me getting exactly what i wanted. aint no 2k gn tho, there stink......... oh shit here comes bosslady to kick me.................

[Glowerss]

Ummmm...so you what...expect a dealer to pay you the new retail price for it now it's had one owner and been used? Riiiiight. And the two GSR750's you've used as an example...are actually both used bikes mate. But here's how it works. Lets say you buy a new GSR750...for say...$13000.00. You use it...and it now has had one owner. Even if it's only done 1000km's...you yourself would not pay new bike price for it right? Else you'll just get a new one that nobody else has ridden and owned. So even at 1000 km's...it's gotta be cheaper than a new one generally by a couple of thousand dollars. The dealership wants/needs a margin in it...lets say 2k...nothing wrong with that I would've thought...so you get offered 4k less than it's new retail price if you want to trade it in. What's wrong with that?

You and I agree with each other actually, I just worded it badly I suppose! :laugh: Certainly if you trade your bike in after a year of ownership, a dealership offering you $4,000 less than what you paid for it would be somewhat reasonable I'd expect. Though, probably wouldn't feel like it at the time :bleh:

Guy was complaining about the price of new bikes dropping out from under you. New bikes actually hold their value fairly well in New Zealand (Unless you buy a Hyosung, those things seem to depreciate like stones). But buying a new bike and then trading it back into a dealership, it's going to feel like it depreciated bucketloads because the dealer has to make a profit.

If you bought a new bike and sold it on trademe after a year of ownership, depending on what it was you bought, I'd hazard a guess you wouldn't lose, say, half its value like it would elsewhere in the world.

[baffa]

Have worked in vehicle sales, I understand the ins and outs of buying from dealers. Dealer offered me around $2500 for my bike for the same reason Crasherfromwayback mentioned.
Its worth noting that with their overheads, they pretty much make almost nothing from the sale of most second hand bike sales anyway.
No issue with that. I was just QQing about non dealer second hand sales.

[ducatilover]

People are selfish and greedy.


The end.

[jasonu]

Are the 2nd hand bikes you talk about selling for the asking prices? If yes then that says they are not over priced and that is the market value.

[breakaway]

To be fair baffa, your bike painted in 'all black' would be a huge red flag for most buyers I'd imagine (for fear its been down the road in the past). Its also 16 years old and has a lot o' miles.

Most riders who wanted to upgrade probably don't want an old, heavy litre bike loaded with legacy technology.

Also rego for bigger bikes is 'expensive as fuck' for a lot of people.

And these factors are contributing to how much people want to pay for your bike.

[fastoyz]

ill have a 2004 gn250 ready by the weekend for $1500 if interested

[rok-the-boat]

Ducati are cheap because servicing costs a fortune. I do everything myself so wouldn't worry. Buell are cheap as they are out of production. They have their vices, but you get a lot of bike for the money. Many bikes are just overpriced though.

[Crasherfromwayback]

Lucky they didn't come over on this puppy...


https://www.youtube.com/watch?feature=player_embedded&v=OltaepPy6z8

[The Pastor]

this is a cheapie
http://www.trademe.co.nz/Browse/Listing.aspx?id=620748278