I would say I have to agree with this 100%. I got into the hobby of riding and restoring vintage bikes while attending grad school from 2010-2014. During this time vintage bikes were more expensive, harder to find, but also sold quickly and for decent money. After graduating, life, a new home, and career got in the way and I left the hobby.
Moving forward, my wife and I recently had a baby, and the best option for us was for me to become a stay at home father. This allowed me more time so I got back into the hobby earlier this year. I found that there were many more venues for buying vintage bikes than before. Not just Craigslist and garage sales like before, but apps like Offerup, Letgo, and FB Marketplace. With all of these new options I was able to find bikes at great prices! I went kind of nuts buying all the bikes I lusted after just a few years before: Klein, Bridgestone, Iron Mans, Merlin, etc. I ended up with too bikes and an angry wife. I kept telling her, don’t worry, I will restore them and sell them and at least break even
Well, now I have several bikes that are beautifully restored and just won’t sell, plus several bikes that are sitting and waiting for restoration that require funds from sales that just aren’t happening. I get plenty of interested people, but almost all are lowballs, flakes, and “can you hold it for a few months while I try to get funds” types. I’m finding that the new apps are great for buying bikes, but horrible for selling them. The only venue I actually make sales with are Craigslist, or here on the bikeforums C&V sales thread. I’m at the point where I just want to liquidate all the bikes that don’t fit me at or below cost, just to be rid of the headache.
It really hasn’t been all bad though. I’ve acquired some truly great and beautiful keeper bikes, I’ve had a blast restoring the bikes, and have made some friends along the way!
I believe that there are several factors leading the declining vintage market, but regardless of why, it just IS. I was never in this hobby to make money, but I’m tired of LOSING money, so I’m getting out of the restoring-to-sell side of it and will focus on bikes that are my size, so I can at least ride them! Haha!
-Ian