Classic and Vintage Bicycles: What's it Worth? Appraisals and Inquiries - Will this bike sell.

I know this may be abit out of line but do you guys think my Gitane 531 will sell for $300. I dont't wan't to sell it for less and I could use the money for bills and maybe nicer C&V build in my size .

http://denver.craigslist.org/bik/2766253472.html

Ebay - yes. Craigslist, Denver, winter, may take a bit.

Well I'm just not up for the E-bay whole bike thing yet so I'm good with taking awhile to sell it. Until then it's a fun ride so I will just ride it for awhile.

Rust on chain stay = value killer. I would be treating that rust first.

Don't blame you on ebay. Fleece-bay is a major PITA, and until you have built up a nice reputation, its hard to get full value for your stuff. I have been selling on ebay for 12 years now, and it is still very frustrating, and the pricing is all over the map. But for the oddball stuff I sell (not bike related typically), there really is no better outlet. Ebay, with all of its faults, has provided me some nice hobby $$ for sure.

If it were my size and local, I'd be powerless to resist. I think that you priced it exactly right.

Best of luck!

Rust on chain stay = value killer. I would be treating that rust first.

Don't blame you on ebay. Fleece-bay is a major PITA, and until you have built up a nice reputation, its hard to get full value for your stuff. I have been selling on ebay for 12 years now, and it is still very frustrating, and the pricing is all over the map. But for the oddball stuff I sell (not bike related typically), there really is no better outlet. Ebay, with all of its faults, has provided me some nice hobby $$ for sure.

I have to agree on E-bay prices I sold 2 basicaly identical vintage regina freewheels recently one sold for $8 the other sold for $30 something. Also I have sold bike parts on E-bay for decent money that would be worthless locally.

From my location and perspective:
1. Corrosion kills value.
2. Paint condition further erodes value.
3. Helico matic freewheel further demotes value.
4. Bolt-on derailleur hanger drops it a bit further.

5. Gitane and French either adds, decrease, or doesn't affect value which is driven by both the buyer and the seller.

6. It doesn't appear to have many if even any braze-ons so that might increase the value some to a fixed gear rider, everyone else wants brakes so that makes it probably a neutral factor.

7. Tires mis-matched so drop a couple of points, not sure about the rims.

8. The pump hangers are neat, but it seems like few run frame mounted pumps these days, so neutral.

9. It is the off season so the buyer will have to be someone looking for a winter project (drop value), or someone who is a winter rider or commuter (neutral), but it does appear ready to ride and doesn't appear to be a bike that a new owner would freak out over if it got dirty or slushy so in that case the overall condition adds some emotional value (maybe).

10. Here in Milwaukee you'd probably be hard pressed to get $75 for it as it sits, even in the summer. But then you never really know.

11. Call it a keeper and a rider and enjoy it and ride it a lot and don't worry about it. One day you might be sitting there somewhere drinking some water and watching someone fly fishing in a stream and some old guy might walk by and say "nice bike, reminds me of one I had many years ago" which could very well end up with you selling the bike and walking home happy and sad all at the same time.

12. This is all just my opinion and nothing here really means it won't sell for $300. Enjoy the bike, it probably rides nice, it reminds me of one I rode many years ago ..... ;)

:commute:

All of the frame issues are basicaly cosmetic and could be delt with easily If I could find touch up paint that is a match to the original paint I have checked around and found paint that is close but just not quit right.

Ad is good, presentation is good, but it might be a little high for winter pricing. I'm having a tough time getting rid of a couple bikes at the moment. You'll know when it sells! (Or doesn't sell.)

Personally I avoid the Helico-matic system like the plague. I'd rebuild the wheel with a new hub or sell the whole wheelset and get something else.



10. Here in Milwaukee you'd probably be hard pressed to get $75 for it as it sits, even in the summer. But then you never really know.


Disagree. If I saw that bike for less than $100 I'd grab it in a heartbeat!

...
Disagree. If I saw that bike for less than $100 I'd grab it in a heartbeat!

Okay, then where were you when I've had comparable bikes posted in the past year????? :beer:

If anyone here wants to sell a 531 frame with a matching purpose-built rack for $100, I'll take 3! If it weren't for the rack, it'd be worth half of whatever it's worth...

Seriously, I'd pay $300 for that if it were in my size, and replace the wheels, cranks, and brake levers. Probably derailleurs as well. And add some chrome fenders. That would be one gorgeous ride...

Happy Holidays to everybody....

I do not know your area CL market pricing, but you are well within
what it would sell for here in NorCal. But like everywhere, bike sales
drop off substantially here from now until Spring.

Okay, then where were you when I've had comparable bikes posted in the past year????? :beer:

I go to school in Platteville so I generally don't check Milwaukee's CL. The ones I keep tabs on are Appleton/Oshkosh, Madison, and Dubuque.

If you ever want to get rid of something that nice let me know! I'm not adverse to soliciting if it involves bikes.

I commented on that bike in another recent BF thread...it is well worth $300, mainly because it is not a common Gitane and it has the original rear rack (with factory fitted seat stay braze ons), and especially if you include the original (rare) cottered crank. The scrapes and rust spots (if not deep) decrease the value a bit, but they are not unfixable deal-stoppers. ood luck.

Yes, the Gitane has both collectable and ride-able value, in my opinion. As for how much the bike is worth? Have a look at Vintage Bicycle Value (http://www.mytenspeeds.com/My_TenSpeeds_1/FREE_SITE_VALUE/VALUE_1_Start.htm) to figure out how to determine what to ask for the bike and, personally, I would offer it for more than three hundred.

Also, pay close attention to section on Increasing Sales Value (http://www.mytenspeeds.com/My_TenSpeeds_1/FREE_SITE_VALUE/VALUE_6_Increase_Value.htm).

Hope this is a help.

Great bike!

I know this may be abit out of line

I don't see anything out of line in your original request. In fact, it was upfront and refreshing. Rather than pretending the bike was some unknown for sale item, you were honest that "hey, this is my bike, do you think I can get this price?"

Not only did you tell us it was your bike, you put up the price you were looking to get, rather than some random, "what do you think this bike is worth?/guessarama", followed by a you guys suck, I know this bike is worth at least $2000. I love the posters that start by saying they know nothing about bikes, and then get in an argument with others (that do know bikes) that they know their xxx bike is worth at least $500.

Its really all about your local market. Here, not a chance. In CA, Boston, and other markets, sure. So its a matter of how good a market you have in Denver. I would think your market is better than mine, although mine is better than other markets too. I would put mine as average, or slightly above average.

Realize if you tell a potential buyer that touching up the paint and handling the rust is easy, most will not believe you. The first thing that goes through a buyers mind is "if it were so easy to fix, it would have been fixed already".

Around here, I find that $25 in prep work (and an hour or two of time) by me can yield $100 in price return on the sale.

Thanks for all the good responses and thoughtfull input. As for fixing it up further or changing some of the components I don't really see getting enough added value to merit the time and other costs in my market. A lot of the stuff would likely make it sell faster but I doubt it would increase the sale price by much. I will probably consider either lowering the price some or holding on to the bike till the market here in Denver improves in the Spring.

From my location and perspective:
1. Corrosion kills value.
2. Paint condition further erodes value.
3. Helico matic freewheel further demotes value.
4. Bolt-on derailleur hanger drops it a bit further.

5. Gitane and French either adds, decrease, or doesn't affect value which is driven by both the buyer and the seller.

6. It doesn't appear to have many if even any braze-ons so that might increase the value some to a fixed gear rider, everyone else wants brakes so that makes it probably a neutral factor.

7. Tires mis-matched so drop a couple of points, not sure about the rims.

8. The pump hangers are neat, but it seems like few run frame mounted pumps these days, so neutral.

9. It is the off season so the buyer will have to be someone looking for a winter project (drop value), or someone who is a winter rider or commuter (neutral), but it does appear ready to ride and doesn't appear to be a bike that a new owner would freak out over if it got dirty or slushy so in that case the overall condition adds some emotional value (maybe).

10. Here in Milwaukee you'd probably be hard pressed to get $75 for it as it sits, even in the summer. But then you never really know.

11. Call it a keeper and a rider and enjoy it and ride it a lot and don't worry about it. One day you might be sitting there somewhere drinking some water and watching someone fly fishing in a stream and some old guy might walk by and say "nice bike, reminds me of one I had many years ago" which could very well end up with you selling the bike and walking home happy and sad all at the same time.

12. This is all just my opinion and nothing here really means it won't sell for $300. Enjoy the bike, it probably rides nice, it reminds me of one I rode many years ago ..... ;)

:commute:

+1 . Good post LOL

Knowing the Colorado Denver to Fort Collins market... I would say it will be a tough sell at $300 especially in the winter. I don't bother selling any bikes in Colorado until March. I think in our market you should be able to get $250 in the spring as is. With out doing a little work to the bike or parting it our and selling online... your sale price is limited.

good luck

Just as a follow I got no interest in the bike at all. So I made some of the changes people here suggested maybe I will have better luck now. But I'm thinking I may need to wait till summer are start learning to love this bike.

http://denver.craigslist.org/bik/2786428759.html

Rust on the chrome stays is still a value killer here.

Saw your new post on the Denver craigslist... post looks better but your still battling the winter bike market and the $300 price mark. I find that people do not want to pay more than $250 for a vintage steel frame unless it has collectors value to them. Unfortunately Gitane does not have the name recognition for most people that bianchi, trek, or Peugeot does.

I do not know your area CL market pricing, but you are well within
what it would sell for here in NorCal. But like everywhere, bike sales
drop off substantially here from now until Spring.

Most places maybe, but I bet if you check between Palm Springs and Phoenix, that it's the peak of bike sales.

Just a final update to this thread I sold the bike for $200 a little less than hoped for but the buyer seemed very happy with bike. But live and learn this will likely be the last time I build up a bike just because it has a really cool rack and lugs that isn't my size. In the end I'm glad this one was saved from bike coop freebie cheap user hell or worse fixie second level of hell for great old bikes or maybe even the scrap yard.