Need advice on selling my bike...
09-19-02, 09:56 AM
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Need advice on selling my bike...
Hello everyone. My boss wants to buy my '97 Diamondback Racing V-Link 3.2 dual-suspension bike (w/LX gear). Due to severe back problems, I never got much riding time on the bike, so it's in excellent condition.
If I was selling the bike to someone I didn't know, I'd be comfortable asking a high price for it. My boss is a super nice guy and would give the bike the use it deserves, so I don't wantt to rip him off. If I paid $1100 for the bike in '97 and have ridden it only a few times with no wrecks, what should be my lowest asking price? Is there any fair formula I can cite to my boss for depreciating a bike's value?
Selling something to your boss can be a delicate situation, so I appreciate any advice you guys can give me. Thanks!
If I was selling the bike to someone I didn't know, I'd be comfortable asking a high price for it. My boss is a super nice guy and would give the bike the use it deserves, so I don't wantt to rip him off. If I paid $1100 for the bike in '97 and have ridden it only a few times with no wrecks, what should be my lowest asking price? Is there any fair formula I can cite to my boss for depreciating a bike's value?
Selling something to your boss can be a delicate situation, so I appreciate any advice you guys can give me. Thanks!
09-19-02, 01:03 PM
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Honestly, you'd be lucky if you get 1/2 of what you paid. Especially for a bike as old as yours. I know, 5 years doesn't sound like a lot, but the technology has advanced so rapidly, it depreciates the minute you leave the shop. It's kinda like computers, by the time you decide to buy one, new models are in production which make yours obsolete. O.k, maybe not as bad as computers, but definately w/in a couple of years.
L8R
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"Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming, "WOW, What a Ride!" - unknown
"Your Bike Sucks" - Sky Yaeger
09-19-02, 04:40 PM
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Well, for some comparison. I just bought a 2001 cx bike that retailed for slightly more than the diamond back and has been upgraded to Ultegra running gear for $850.00. 2psykl is right, I'd say $350.00 if you want your boss to be happy with you.
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09-20-02, 07:12 AM
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Actually I was thinking you should ask about $550 - $600 depending on condition. You said it was in good shape. Then tell your boss you'll sell it to him for $500.
It's hard to tell just from your description. Do you have a digital picture you could post?
L8R
It's hard to tell just from your description. Do you have a digital picture you could post?
L8R
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"Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming, "WOW, What a Ride!" - unknown
"Your Bike Sucks" - Sky Yaeger
"Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming, "WOW, What a Ride!" - unknown
"Your Bike Sucks" - Sky Yaeger
09-20-02, 09:33 AM
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Then tell your boss you'll sell it to him for $500.
I was just thinking that $350.00 would be in the range of, "Wow, Some_Guy gave you a good deal.". Boss is happy, Some_Guy gets promotion and key to the executive wash-room. Rather than, "Hmmmm... Some_Guy sold you that for $500.00?". Of course, this is assuming that Bossman circulates among knowledgeable bikers. There's a good chance it will spend another five years in his basement. :thumbup:
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Jeff
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09-20-02, 04:29 PM
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The guys is a super cool boss? Forget your wallet and sell the bike cheap. Good things and favors ALWAYS come back.
