Classic & Vintage - Don't you guys hate it when you underprice bikes you are selling?

I under priced a small LeMond nevada city that I put on CL yesterday. 6 hits from enthusiastic people. I got my asking price today, which is still a hefty amount, but I underestimated what reynolds 853 (although the model itself was the lowest in the lineup) and small size (50cm) would demand. I almost always stick by my original asking price, but it hurts when I know I could've got more!

/end rant

No, I know what my stuff is worth, and I usually price it to move quickly so it makes me happy when people realize the fair value and rush to buy it.

a year after you sell you realize what bikes you gave away and what bikes you made good money on.

every year i start a new list

bike what i have in it what i sold it for profit

this excludes labor-
Im stuck on a looser bike now, paid a hundred for it, i have to paint strip and repaint it, put some of my horded NOS on it, plus a new chain, and then sell it and get MAX 300- now that is a big loss.

then there are the bikes that are worth more then people are willing to pay,

few year old quality citybikes with shimano nexus 7's - sometimes it is hard to get 60 for them-they cost 300-450 new!

I've only made that mistake (once) on eBay. The theory that you should start low to spark interest in your auction only exposes you to the risk that your auction will end low.

Just did, on eBay. Took a bath, but it sold.

At least it was a Trek, but after being RobbieTuned, it was a darlin'

I'd rather under price than overprice. Better to make a sale and have money, than not make a sale and not have money.

Not a huge deal to me as long as I don't sell for less than I bought--you gave someone a deal they'll get to brag about, and we have all had those deals too.

Not so long as I bought it lower.

Quit your belly-achin' and go ride a bike, Puget Pounder!

Quit your belly-achin' and go ride a bike, Puget Pounder!

Weak legs from a ride yesterday and it's horrendously windy today. Would not be good for my ego! I plan on getting some junk miles though...

You're all right, considering I have made money from this hobby and have great bikes, I'll stop complaining :)

+1 I really don't mind at all. I consider it tuition in bike pricing. Also take it as a compliment on your marketing, that you attracted that much interest.

+1 On starting items too low on ebay, I sold a leather coat once for 99 cents. I used to believe start them at 99 cents, it will draw a huge crowd of bidders, and the price will go up... Lost money on the shipping too on that leather coat (underestimated the weight).... I consider that ebay lesson as tuition in selling on ebay. Anymore, I start just about any item at my minimum acceptable amount. Then one bid is just fine.

I often sell stuff cheasp to good people around the hobby. but I sold a nice original '52 Schwinn Hornet first thing at a swap recently to a guy who lowballs me on everything i have, he took it right away for my asking price, come to find out i had a line of people waiting to talk to me about it. I'm pretty happy with what i got buyt i should have upcharged that d-bag... or sold it for my asking to one of the other guys behind him.

I start by pricing my bike a little higher than what it's worth. If someone is dumb enough to buy it, they will and they do. When i don't get any offers or only low-ballers i take the price down $25 every week. But of course I make sure to never sell my stuff for too cheap, I have before and i really regret it. Some people might catch on to the cheaper prices every week and just wait until it's the price they want. Just sayin' if nobody will give you what you want for your bike, keep it.

Hey, I dig being on the other end of this deal. Just bought a Raleigh Technium for 100.00 that was barely ridden, professionally tuned and maintained, pristine condition. The gentleman looked at me and said, "I think the price was too low". "Not for me", I replied.

Cant believe the condition this very nice bike is in for an '89.

Seriously, if he had asked 150.00 for the bike he may not have had one hit on it. The used bike market is not moving here.

I start by pricing my bike a little higher than what it's worth. If someone is dumb enough to buy it, they will and they do. When i don't get any offers or only low-ballers i take the price down $25 every week. But of course I make sure to never sell my stuff for too cheap, I have before and i really regret it. Some people might catch on to the cheaper prices every week and just wait until it's the price they want. Just sayin' if nobody will give you what you want for your bike, keep it.

Kinda like a Dutch auction, in slow motion ;)

How do you really know that you sold it too cheap? Maybe you just got lucky with the timing of the right people interested in buying that particular bike...

+1 I really don't mind at all. I consider it tuition in bike pricing. Also take it as a compliment on your marketing, that you attracted that much interest.

+1 On starting items too low on ebay, I sold a leather coat once for 99 cents. I used to believe start them at 99 cents, it will draw a huge crowd of bidders, and the price will go up... Lost money on the shipping too on that leather coat (underestimated the weight).... I consider that ebay lesson as tuition in selling on ebay. Anymore, I start just about any item at my minimum acceptable amount. Then one bid is just fine.

In my experience starting low is a gamble but it usually pays off. The only time it's a really bad idea is when you're selling something unusual or rare that only a few people are going to want to bid on. Some times it's hard to own up to the fact that some of the things we like - just aren't very interesting to a lot of people! :D

I have three items up right now that if I had started them at the price they are currently at, I wouldn't even have a single watcher I'd bet. In fact if I had started them at even $10, I doubt I'd be seeing the bidding that's going on right now.

I know I've underpriced a few but I also know I've made money on virtually every bike I've sold.

I'd rather go a bit low and have it sell quickly and without the buyer worrying about every nick and scratch, I end up happy because I have cash in my pocket and they're happy because they got a good deal. :D

The bike wouldn't have sold at all without the "hand crimped" cable ends. Those alone were worth your asking price.

+1 I really don't mind at all. I consider it tuition in bike pricing. Also take it as a compliment on your marketing, that you attracted that much interest.


Listen to the wise man. His posts are so succinct that it's easy to miss the depth of his wisdom.

Tom loves him some thrifty Bill!

Thrifty Bill describes all the lessons I've learned the hard way, without knowing I've learned them.

I'm with Tom - Bill understands the ups and downs and the limitations of the game.

Having some bikes listed for a long time helps you appreciate a quick sell. Sometimes its best to take a little less now than have to deal with it for 6 months.

Just sold a modern bike built up from parts bin, deals, and trades. Cost me very little actual cash but built into a fine, if not mix match bike. Most of the parts were in fact upgrades to the as sold version though.

priced it with what I figured I'd be very happy to get and got a call that night, sold it that night after negotiating down -$35

Glad to have it gone, glad to have the cash.

I just saw it relisted as sold for $70 more so turns out he's a flipper. Hmm,would have been nice to get more... BUT, its been listed a week now and he's dropping the price.
Seems to be more effort than the approx 20-30 he'll make on it. Good luck to him. ;)

No, it doesn't bother me. I just sold a few bikes to lower the number in the fleet. One of them, that I know I priced too low went to a college student who is low on cash. I remember those days, and I remember the people who helped me get through school. Another who answered a CL add, turned out to be a neighbor looking for an inexpensive mountain bike for his wife to ride on the local gravel MUP. The old Specialized Hard Rock I sold him was perfect for that application.

I'll tell you what does bother me: Putting a bike or bike part on CL at a good price and no one responds. Maybe I didn't list it at the right price.

With me any buying and selling is for fun, with what little profit I generate used to supplement my own bike purchases. Trying to get "top dollar" just makes it more like a real business and takes the fun out of it.

I would rather sell it quickly for below full retail in most cases. And most customers for old road bikes seem to be relatively poor students and similar people anyway.

How do you really know that you sold it too cheap? Maybe you just got lucky with the timing of the right people interested in buying that particular bike...

Indeed. When I sell something quickly I think I underpriced it but I don't think there is any way to know unless you refuse to sell it to the first taker, wait a while and ask more.

I have sold a couple of things for less than I should. You list something and get 20 responses, it's too low.

I often underprice things because for me this is a hobby rather than a business and I like to make people happy. I've been known to hand people something they need at a swap meet just to put a smile on their face. Of course, everyone's reason for being here is different, and that's perfectly legitimate.
Edit: I don't mean to sound sanctimonious, either - I tend to give people good deals, but I don't mean to suggest I'm giving everything away.

Way to look at glass half-full! Yeah, I'd be pretty annoyed if this just sat for so long. Now I have some space back and have recouped some of my purchases in the past month. :thumb:

Thanks for the chin up, guys!

I'll echo the sentiments of those who note it's a hobby and not a business. It needs to be fun, not high pressure or cutthroat. If I was trying to make a living at it I'd probably feel differently.

Also, I consider who the buyer is. If it's someone who will really appreciate the bike, that has extra value to me beyond the money.

How do you really know that you sold it too cheap? ...

^ When I would have paid more for it myself, then I know it went REALLY cheap! :(

I'm starting to feel pretty good about the bike a guy bought and repriced $50 higher. It's been sitting on CL for weeks and was just relisted again. Glad I have my chunk of change and its still not hanging in my garage... Hope the $50 pans out for him.

I usually loose money on bikes I've built for my stable - since I tend to spend more money on them. A few times I break even or sell at cost for students, coworkers, or because i misjudged their value/condition. I started one bike cheap on Ebay and made only $50 for my time/effort selling/packing/shipping. I should have made $300 - it was a nice bike that I got dirt cheap (but spent time reconditioning).

I did loose money selling a Miami Vice style pink/yellow Ironman that I should have kept. It was too big for the buyer and I let him talk me down.

No, I know what my stuff is worth, and I usually price it to move quickly so it makes me happy when people realize the fair value and rush to buy it.

That.^^^^ I feel any more than fair is just being greedy. Please don't ***** and moan, its just what I think, doesn't mean you have to think it.

That.^^^^ I feel any more than fair is just being greedy. Please don't ***** and moan, its just what I think, doesn't mean you have to think it.

I've already admitted that I shouldn't have posted this and that I'm wrong to want more, but I'll bite:

If people were willing to pay was more than what you were asking, isn't that still a fair price to them? By your definition, how is that being greedy?

Not trying to "***** and moan", but I wanted to see what people thought when they know they could have got more money for their bike.

The thread was suppose to me more of a "awww shucks!" sort of deal.

I'm with Tom - Bill understands the ups and downs and the limitations of the game.Wow! Just read these compliments! Thanks Aaron and Tom!

On the topic: "How do I know when I sell it too cheap?" For me, its when I can no longer find project bikes at a "reasonable price". Picked up two in the last day, so the supply of bikes has not dried up yet.

The only bikes I've sold too cheap, are the one's I wish I hadn't sold.
If I had priced them higher, they might still be mine. :(

The only bikes I've sold too cheap, are the one's I wish I hadn't sold.
If I had priced them higher, they might still be mine. :(

Probably the best insight yet.

I've already admitted that I shouldn't have posted this and that I'm wrong to want more, but I'll bite:

If people were willing to pay was more than what you were asking, isn't that still a fair price to them? By your definition, how is that being greedy?
Not trying to "***** and moan", but I wanted to see what people thought when they know they could have got more money for their bike.

The thread was suppose to me more of a "awww shucks!" sort of deal.

Don't care if its "fair to them", Its not fair to me. but yeah I've been there, done that, didn't feel good, didn't feel right, didn't feel fair, didn't like it. They were willing to pay more money and thats cool, but my honor means something to me, so its up to me to stay honorable and not take the money. Its just the way I am, and I feel/know anyone that sees more green and says,"I'll take it!" even though they were already getting a fair price (what they were asking mind you) is just being greedy. Remember, you don't have to agree with or even like my opinion, but its mine and I'm sticking with it because the person buying my bike may not know, but I know right from wrong. Besides, Karmas a ***** and when you least expect it, it will come around and bite you right on the ass.......hard! :thumb:

I just don't get so invested in a bike that I can't sell it for a fair price:)

I just don't get so invested in a bike that I can't sell it for a fair price:)

I rarely lose money on a flip, but there were plenty where I didn't profit -- unless you count the satisfaction I derived from rehabbing an old bike and sending it off to an appreciative new owner.

I know a lot of members will not beleive this, but I sometimes loose money in a sale! Doesn't bother me so much when I see the person enjoying a bike that I built or rehabbed, or a bike that I bought and love but can't keep for whatever reason. =0) Don't get me wrong I need money just like the next guy, but as long as I have enough to get what I need I'm good..

I know a lot of members will not beleive this, but I sometimes loose money in a sale! Doesn't bother me so much when I see the person enjoying a bike that I built or rehabbed, or a bike that I bought and love but can't keep for whatever reason. =0) Don't get me wrong I need money just like the next guy, but as long as I have enough to get what I need I'm good..






Not a huge deal to me as long as I don't sell for less than I bought--you gave someone a deal they'll get to brag about, and we have all had those deals too.

My thoughts also.

I just gave away a 90's MTB that I couldn't sell and make profit. The person I gave it to is happy with it.

' made me feel good.

Then there's "that guy" whose response to any deal is "You got ripped off! I know a guy who'd pay...". The guy who'd pay is never around at the time of sale.

I was selling a mtb frame, asking $150. Had one guy tell me he could get one of those for $25, anyday. I replied with "So why are you wasting my time, go buy a $25 frame". I later sold it to a woman, who I suspect was his Mom.

Though I don't sell many bikes compared to most on these forums, I really try not to think about the prices in dollar amounts but as percentages. For example, my last flip was vintage kids bike. I bought it for 5 bucks, put about 3 hours into it, and about $25-$30, in new tires and tubes. And I sold it for $60.00. I feel pretty good about it though I know had I held out I probably could have gotten $20-$40 more. But it's hard to complain about a nearly 50% return on your investment, as opposed to I only made $20.00.

If you look at it like "investors" you think in terms of percentages over dollar amounts. You seldom hear investors talking about how much cash they made. They usually talk of I made 10% last week on a short sale in X company. And pricing for most retail is also mostly about percentages. And in most retail a 50% margin between manufacturing costs and wholesale sale is a huge mark up, most items it's much less than that, and a few (usually upscale specialty items) 50% isn't much. I consider a flip success with a margin of around 50%.

Of course I enjoy working on the bikes so I don't price my time. I consider it an investment in my restoration education. Once I get really good at it, I'll probably charge a nominal amount for my time too but for now I'm still learning. I also knew going in that I would have a hard time making much on a kids bike. I find it hard to haggle when some cute little girl that just learned to ride is tearing up the sidewalk in front of your house and is completely in love with the bike you restored.

Perhaps I'm a sucker, but I'm just happy keeping good bikes from the land fill and doing my part to help people have viable low cost transportation (I mostly work on bar cruisers and daily riders). I don't need the income and consider it a hobby anyway, and the money I make doing the occasional flip is usually funneled into fixing up my personal bikes, which keeps the wife from complaining too much about the time and money I put into them, which by itself is nearly priceless.