I agree wholeheartedly with this statement. With bicycles, you can buy one of the very nicest collectible bicycles that exist (with provenance) for about what the average licensed racer, or for that matter your average club rider, now rides on a daily basis. If you go out for club rides today, you can be assured that there will be many $5K bikes and the occasional one costing in the 5 figures. You frequently see young riders, who are quite obviously still living with their parents, who have $5K bikes in club events. The depreciation on these new bikes in one year is far greater than most of us will ever consider spending on any bike. We are cheapskates! As CV-6 correctly wrote: Champagne tastes and beer budget.