Cycling and bicycle discussion forums. 
   Click here to join our community Log in to access your Control Panel  


Go Back   > >

General Cycling Discussion Have a cycling related question or comment that doesn't fit in one of the other specialty forums? Drop on in and post in here! When possible, please select the forum above that most fits your post!

User Tag List

Reply
 
Thread Tools Search this Thread
Old 07-17-09, 06:52 AM   #1
Road Rage
Gold Member
Thread Starter
 
Road Rage's Avatar
 
Join Date: Jun 2009
Location: Washington D.C.
Bikes: 1985 Fugi Opus III
Posts: 31
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Trade in vs. private sale

Hi,

In August I will be purchasing a new bike at my local bike store. They accept used bikes as trade ins, and I am wondering if there is an advantage to doing this over a private sale.

Also, how should I go about evaluating the price I should accept for my bike?

I was planning on keeping the old bike until now, and have decided I really am not going to use it anymore and would rather someone else enjoy it.

Here is the low down on it:

1993 GT Karakoram steel frame 24" (In another thread we discussed how this frame is classic and desirable to some mountain bike/xc/tour folks).

I have not used it on the road at all since I made these changes:

Converted to single crank in the front and 8 speed rear (basic Shimano components).
I repainted the frame and fork (stripped, primed, base coated, and clear coated it).
Installed new brakes (levers and calipers and cables), rear wheel, chain, and tires.

The only thing that could be replaced soon is the front wheel. Otherwise it is like new.

All of the new stuff above was obtained at the bike store I will be purchasing the new bike from, so I assume that would have some influence on their assessment if I do a trade in. They also have seen the frame and commented on the paint being very well done.

Any thoughts on how much it could be worth these days? I certainly trust the guys at the shop to give a fair price, but I wonder if a private sale would be better. They would have to turn it around after all.

Thanks,

-RR
Road Rage is offline   Reply With Quote
Old 07-17-09, 10:34 AM   #2
Velo Dog
Senior Member
 
Join Date: Jun 2004
Location: Northern Nevada
Bikes:
Posts: 3,802
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
One of the regular guests on my radio show is a guy who deals in "collectibles," a word I hate, but he talks about the benefits of private sale vs. trade all the time. Summing things up, he says he's a dealer, and he'll buy or take in trade almost anything--but he has to make money on the deal at some point. If you just want to get rid of the bike with minimal hassle, go to the dealer. But remember that he has to clean it up, keep it in stock and eventually sell it at a profit, so he can't afford to give you a premium price.
If you'd like to make a little more money, then you have to do the work: Clean and tune the bike, market it somehow and deal with the eventual purchaser.
In this case, I'd probably keep it. The cash value isn't going to be very high, and you can always use a spare bike for rainy days or whatever. The mods, paint etc. you've done probably don't increase the value much--a buyer will EXPECT the bike to be clean and functional, and won't pay extra for that. If it's really a 24-inch frame, that could be a factor, though. That's a pretty big bike, and larger used bikes in good condition are hard to find. If you luck into a 6'2" rider, he might pay $25 extra or something.
Velo Dog is offline   Reply With Quote
Old 07-17-09, 10:35 AM   #3
Nermal
Senior Member
 
Nermal's Avatar
 
Join Date: Jan 2006
Location: Farmington, NM
Bikes: Giant Cypress SX
Posts: 2,071
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 5 Post(s)
I trust the LBS, too. So I would take the trade in, unless I were sure the bike not only had an especially high value, but there were people in the area that knew the value, and willing to pay.

I know from nothing on internet sales, but advertising locally seems to bring out the bargain hunters, and it's not my plan to be nailed down to the phone all weekend, making appointments for people who may or may not show up, and expect you to reserve the sale based on the word of someone you know nothing about, except they have the abillity to dial a phone.

You may conclude I'm not much impressed with the general public.
__________________
Some people are like a Slinky ... not really good for anything, but you still can't help but smile when you shove them down the stairs.
Nermal is offline   Reply With Quote
Old 07-17-09, 10:48 AM   #4
zoste
VoodooChile
 
zoste's Avatar
 
Join Date: May 2008
Location: AZ
Bikes: Salsa Casseroll
Posts: 1,048
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Nermal View Post
I trust the LBS, too. So I would take the trade in, unless I were sure the bike not only had an especially high value, but there were people in the area that knew the value, and willing to pay.

I know from nothing on internet sales, but advertising locally seems to bring out the bargain hunters, and it's not my plan to be nailed down to the phone all weekend, making appointments for people who may or may not show up, and expect you to reserve the sale based on the word of someone you know nothing about, except they have the abillity to dial a phone.

You may conclude I'm not much impressed with the general public.
Particularly the general public that will (ordinarily) base the value of a used bike on the prices they see on new bikes in the toy department of the KMart.
zoste is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -6. The time now is 08:47 PM.