Fifty Plus (50+) - "If you're a $15,000 (bicycle) customer, the recession isn't going to stop you."

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BengeBoy
05-01-08, 08:29 PM
From today's New York Times - a story remarking on the increasing number of people who travel cross-country to purchase $15,000 bikes (entire article pasted below):




Cycling Success Measured in Frequent-Flier Miles
By SARAH TUFF

EARLY last year, Dr. Jason Newland, a 34-year-old pediatric infectious disease physician from Stilwell, Kan., decided he would upgrade his Cannondale road bike to something more aerodynamically suited for triathlons, where riders must fight the wind on their own, without the pack shielding them. But instead of ambling into a local sports shop, Mr. Newland flew nearly 1,400 miles from Kansas City, Mo., to Waitsfield, Vt., where he bought a custom titanium and carbon Serotta Legend Ti from a specialty-fit studio called Fit Werx. The price: about $7,000, not including travel.

“It’s hard to tell people I went all that way to buy a bicycle,” Mr. Newland said. “They say, ‘Why didn’t you find a place in Kansas City?’ I’m kind of a fanatic.”

It is apparently no longer enough for dedicated amateur or recreational cycling enthusiasts to pay $2,000 to $20,000 for custom-fit bikes, a practice that has become more commonplace in the last few years. Now, to fully appreciate the magnificence of their new toys, those athletes must also be able to tell of flight miles logged and far-off bicycle gurus consulted.

“When you travel to do anything,” said Matt Boyer, the marketing director at Wheat Ridge Cyclery near Denver, “there is that cachet that says, ‘What I’m doing is very important because I have to leave town to do it.’ ”

Even with Ron Kiefel, a 1984 Olympic road cycling men’s team time-trial bronze medalist, as its general manager, Mr. Boyer has been surprised at the number of out-of-staters drawn to the fitting mezzanine at the 30,000-square-foot shop. Nor has the recent economic downturn stalled the cyclists and triathletes from outside Colorado. “If you’re a $15,000 customer, the recession isn’t going to stop you,” he said.

Feeding the fire is the fact that high-end bike shops like Fit Werx and Wheat Ridge are courting buyers, not just with travel discounts and refunds but with more personal touches like dinner recommendations.

Fit Werx arranges lodging deals at local inns and will pick up customers at the airport, said Ian Buchanan, a fitter and an owner. Recently, he said, Fit Werx found a London-based cyclist a discount at the Yellow Farmhouse Inn in Waitsfield, took him to a restaurant and, the next day, shared leftover pizza and wine when rain ruled out a ride through the Mad River Valley. “It’s a bit of a concierge service here,” Mr. Buchanan said.

In the six years Fit Werx has been open, Mr. Buchanan said, his out-of-state clientele has grown to more than 50 percent of his business. “For some people, it’s all about the bike and nothing else,” he said. “For others, it’s about the whole experience that surrounds the bike.”

Cyclists and triathletes have long sought ever-more-sophisticated equipment to help catch their competitors — or at least the eye of their competitors. But in the last few years, said Christopher Kautz of PK Cycling in Fairfax, Calif., there has been a new appreciation of proper bike fit, which can not only improve aerodynamics but also increase comfort and reduce the chance of injury.

Bike fitting involves using measurements and computer technology to adjust the seat post, handlebars, crank arms and the stem. The process, which puts the rider through a range of positions on the bike, typically takes about three hours. (When it’s time for tune-ups, long-distance buyers say they trust their local shops for minor repairs.)

Megan Tompkins, the editor of Bicycle Retailer and Industry News, said more people than ever are traveling for a custom fit and a boutique bike. “They’re looking for something that’s more comfortable and allows them to ride longer distances,” she said. “For the weekend warriors, it’s also about having that unique bike, the cachet that comes along with having something that’s different.”

The increasing demand for custom-fit bikes parallels the surge in cycling, especially the growing popularity of triathlons. From 2002 to 2007, USA Cycling membership grew to 61,594 from 42,724. From 2003 to 2007, the number of USA Triathlon members more than doubled, to 100,674 from 47,373.

Thanks to gear talk on blogs and articles in magazines like Triathlete and the competitive cycling publication VeloNews, some bike fitters and shops have gained reputations as the route to the best ride. Ron Bigelow, a retired lawyer and recreational cyclist, said he spent months researching fit and interviewing shops before flying from Houston to California to spend “thousands” on a custom-fit Serotta from Mr. Kautz, and one for his wife, Ellis.

“When I talked with Christopher, I was favorably impressed with his approach,” said Mr. Bigelow, who added that he found Mr. Kautz knowledgeable, personable and willing to answer many questions. And, Mr. Bigelow said, he and Mrs. Bigelow had already planned a vacation to San Francisco.

Like Mr. Bigelow, many cycling and triathlon enthusiasts buy a bespoke machine from a distant shop by combining a bike-fit trip with business or pleasure. At Cadence, a cycling and triathlon store with locations in Philadelphia and TriBeCa in Manhattan, Karim Pine, the director of marketing, said that more than 40 percent of his buyers are from out of state or overseas and often make a vacation out of the bike-fitting experience. “They want to scratch all their itches,” he said.

Last month, Doug Jacobs, the chief executive of an auto-finance company who lives in Weston, Fla., flew to Greenwich, Conn., for meetings and squeezed in a bike fit by Paul Levine at Signature Cycles on the counsel of several members in his road cycling club.

Mr. Jacobs, 45, said he began cycling about two years ago and is building up his skills before he enters races. In the meantime, he said, “our group’s pretty fast, and if you’re not ready to ride really hard, you’re going to get dropped.”

So, after a two-and-a-half-hour fitting at Signature Cycles, which is known to pamper well-heeled clients with beer or wine and long discussions about lifestyles, Mr. Jacobs paid about $14,000 to have a Serotta MeiVici with hand-rolled carbon tubes custom built and shipped to him. “I haven’t gotten the bike yet, but I’m very excited,” he said.

Mr. Jacobs admitted that he can seem obsessed about his sport, but that considering the amount of time he puts into cycling, “it’s money well spent.”

The weak dollar is also luring more overseas customers, said Christophe Vandaele, the president of SBR Multisports (for swim, bike, run) in Midtown Manhattan. This spring, Mr. Vandaele began to promote more actively his two-year-old program that promises customers who fly to New York and spend $2,500 or more on a bike a refund of $200 for lodging or air fare.

Mr. Vandaele said many of the international customers are couples: “The wife wants to shop on Fifth Avenue, and the gentleman wants to shop at SBR.”

But how expensive a bike does one really need? Loren Mooney, the executive editor of Bicycling magazine, said that for $2,500 to $3,500, most road cyclists and triathletes can get an exceptional road or triathlon bike without traveling far. T. J. Murphy, the editor of Triathlete magazine, said the low end for a good triathlon bike without a custom fit, for a beginner or an experienced rider, is about $2,000. Ms. Mooney cautions against a keep-up-with-the-Joneses mentality that can spur five-figure splurges. “What you get for $15,000 is something ultralightweight, with pro-level performance,” she said. “But the reality is that very few people have the cycling ability to take advantage of all that.”

Even some devotees admit that what they treasure most about their trophy items may be merely superficial. Rafael Aguilar, a 38-year-old lawyer and triathlete from Miami, conceded that a perk of traveling to Mr. Kautz’s shop in California and spending several thousand dollars was being able to show off the bike at races.

“There’s always a certain amount of bling, as most triathletes are relatively affluent professionals who aren’t hesitant to spend their money on nice equipment,” Mr. Aguilar said. “But a bicycle is a bicycle. At the end of the day, it’s a question of who crosses the finish line first.”


DnvrFox
05-01-08, 08:47 PM
It's like a consultant. If he/she isn't from our of town, he/she is no good.

You are never a prophet (bicycle fitter) in your own town.

oilman_15106
05-01-08, 09:21 PM
This says one thing to me. Very few places know how to fit a bike to a rider and those with $$$ are willing to go to the ones that know what they are doing. The whole disscussion on spending $$$ on your hobbies/passions has been had many times before.


stapfam
05-02-08, 12:07 AM
But how expensive a bike does one really need? Loren Mooney, the executive editor of Bicycling magazine, said that for $2,500 to $3,500, most road cyclists and triathletes can get an exceptional road or triathlon bike without traveling far. T. J. Murphy, the editor of Triathlete magazine, said the low end for a good triathlon bike without a custom fit, for a beginner or an experienced rider, is about $2,000. Ms. Mooney cautions against a keep-up-with-the-Joneses mentality that can spur five-figure splurges. “What you get for $15,000 is something ultralightweight, with pro-level performance,” she said. “But the reality is that very few people have the cycling ability to take advantage of all that.”

Most of you would have thought me mad to spend $5,000 on Boreas but the heart of any bike is the frame. Then there is the TCR at around $2,000 and that is a good bike. But can I tell the difference between the two Bikes? Yes. I have now got the TCR up to near the ride quality of Boreas but I know which one does ride better and easier. Has it made me faster in comparison to the OCR? Doubt it but the OCR is not up to my standard on comfort- fit or components now.

Now if you are at the top of the scale on riding ability then you can tell the difference that the "High" Priced bike will bring you. I would not be able to but the difference in my 3 bikes is something that the average rider can tell. (Boreas is a nicer colour.:rolleyes::rolleyes:) But whether I warrant the high price bike in my stable with my riding ability is a different matter.

BengeBoy
05-02-08, 09:37 AM
This says one thing to me. Very few places know how to fit a bike to a rider and those with $$$ are willing to go to the ones that know what they are doing. The whole disscussion on spending $$$ on your hobbies/passions has been had many times before.

Good point -- there have been plenty of stories about people spending money on their passions that other people outside the sport don't understand. $15,000 is still less than the price of a Harley.

You're right, the reporter missed the real story -- that people with $15,000 to spend, who live in very large cities, still feel the need to travel cross country to get the bike of their dreams.

There is a place like that here in Seattle that has a good reputation -- Cascade Bicycle Studio. He works by appointment only, and once you go in for an interview, fitting, etc., he will handle the order for a custom bike from one of several makers:

http://www.cascadebicyclestudio.com/

HiYoSilver
05-02-08, 11:57 AM
Did you notice most of the excitement is around tri. A tri fit, F.I.S.T, will cost $200 to $300, and there aren't too many good fitters. However, the local one in wheat ridge has a good rep.

DiabloScott
05-02-08, 12:18 PM
It's like a consultant. If he/she isn't from our of town, he/she is no good.

You are never a prophet (bicycle fitter) in your own town.



Ha! I am a consultant, and I'm frequently introduced as "Our expert from out of state".

Ron Kiefel is the coolest.

maddmaxx
05-02-08, 12:20 PM
Did you notice most of the excitement is around tri. A tri fit, F.I.S.T, will cost $200 to $300, and there aren't too many good fitters. However, the local one in wheat ridge has a good rep.

Having built my tri bike this year, I can testify that it is very different from what everyone thinks they know about conventional bikes. There are constant tradeoffs between what is aero and what you can actually ride. The fitter must understand a lot about bike fit, the human body's ability to make power and the art of TT racing itself. Once you have all of that, the equation changes constantly with practice, training and fitness level so a degree of adjustability must be built into the bike fit as well. A really good TT fitter looks to be somewhat rare.

When you also consider that a good fitter is giving free time (quicker race for the same power output) to TT riders then you begin to realize what they are worth.

cyclinfool
05-02-08, 05:26 PM
If you have a lot of disposable cash spend what ever you like on a bike, whether or not it makes sense. The old saying "you get what you pay for" is not really ture it really is "if you are lucky you will get what you pay for"

If you are a gifted cyclist you will make an old Huffy go fast.

RalphP
05-03-08, 10:01 AM
The money really isn't the point. $15k is nothing to a lot of people, if they are spending it on themselves. The salient issue, to my mind, is that great volumes of intelligent people (who also have stacks of money) are debasing their judgment with vanity. They "know" that about two-thirds of the money they are spending on the object is buying them a negligible increase in value but, as best they can, they chose not to know it consciously. I think it would be better all around if the fashion was for the well-heeled and intelligent set to be deeply interested in truth and reality. A trend that is unlikely to happen while they are respected and treated seriously while they publicly play out delusional thinking.

Digital Gee
05-03-08, 10:05 AM
It's like a consultant. If he/she isn't from our of town, he/she is no good.

You are never a prophet (bicycle fitter) in your own town.

While I resemble that remark, I can't argue the point. It's been true in my own consulting practice time and again. :)

Pat
05-03-08, 11:50 AM
An itinerant preacher once said that "a prophet is not without honor except in his own homeland". I guess it applies to bike fitters also. We have some pretty good ones around here. But hey, if you need an excuse to travel and pay exorbitant prices for bicycles, going to see that expert will work as well as anything I guess.

BSLeVan
05-03-08, 04:04 PM
History has shown that as recessions unfold, luxury spending goes up. Those who have lots of funds, can get real bargains during a recession. Those in the middle class and lower, bear the brunt. Dr. Newland, in his own words, is "kind of a fanatic", but he is one who it appears can afford to be a fanatic.

FloridaBoy
05-03-08, 06:43 PM
Megan Tompkins, the editor of Bicycle Retailer and Industry News, said more people than ever are traveling for a custom fit and a boutique bike. “They’re looking for something that’s more comfortable and allows them to ride longer distances,” she said.

I dropped of a Riv Bleriot framrset at the LBS to acheive the above but it won't be 15K. :( I guess I will go to counseling or some kind of therapy to get over it. :D After reading the OP I am now sure it will not fit either. :rolleyes:

Bill Shanks
05-04-08, 08:31 PM
A lot of people have too much money.

Red Rider
05-05-08, 11:40 PM
A lot of people have too much money.

We don't have that problem. :(:(

Pat
05-06-08, 11:25 AM
A lot of people have too much money.

I very rarely hearing people say that about themselves. People usually mean that someone else makes more money than they do. Oddly enough there was a study done and the large majority of people would rather prefer being the richest person in a community rather than make substantially more but being below the median income in the community. I just don't understand comparisons like that.

Now, I don't buy high end bikes and I probably never will. I ride enough to justify it and I could afford it. But it just does not appeal to me.

oilman_15106
05-06-08, 11:54 AM
Very good article in Forbes May 19 issue on Scott Bikes and the luxury bike biz in general. This quote pretty much defines our topic : "In the luxury bike business, where products sell for as much as $20,000, spin and relationships rule."

Now here is something to think about. Cannondale bought a ScottCR1 frame and torture tested it. It was 24% lighter than Cdales best frame and survived 250,000 rotations of the crankarm. Cdales best failed at 80,000 revs. If your really had all the info avalible some bikes might be worth the price they are asking.

Total bike maket in the USA in 2007 = $6 billion!!

CACycling
05-06-08, 12:39 PM
Compare your wealth (http://www.globalrichlist.com/) with the majority of the world's population. I'm sure the majority of the world would consider spending even $500 on a bike to be beyond extravigant. It is all a matter of your frame of reference.

genec
05-06-08, 01:29 PM
A lot of people have too much money.

Define "too much."

I heard some interesting arguments last night about "too much profit."

Who gets to decide what is "too much."