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Nice green Olmo - is it worth the price?

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Nice green Olmo - is it worth the price?

Old 06-04-12, 08:50 PM
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Nice green Olmo - is it worth the price?

Beautiful colour but the components are ho hum.
Originally listed for $250 but the new owner is now flipping it at $600.
Is this worth 600$ ???

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Old 06-05-12, 05:14 AM
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In Vancouver, $600.00 is closer to a fair deal than $250.00. My guess is the flipper will get close to what he is asking. Wish I had seen it offered at two fifty. I would have snatched it up in a heart beat. To that, add this...

When a good deal surfaces on Craigslist - act immediately. Don't waste time asking others if this or that is a good deal. Don't wait until it is convenient for you to look at the bike. Act immediately or the bike will be gone!

Of course, the trick is knowing what is and what is not a good deal. Understanding Vintage Bicycle Quality, Vintage Bicycle Value and How To Buy and Sell Vintage Bicycles will all help you make better, immediate decisions regarding to buy or not to buy. Spend some time learning about these activities and you will be better prepared to answer your own question - is it worth it?

Hope this is a help.
"98% of the bikes I buy are projects".
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Old 06-05-12, 10:26 AM
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In a hot market like Vancouver? Yes. You are seeing free enterprise in action. The bike market is very inefficient, and getting full value for a bike is hard work. So the first seller didn't understand value, and a scooper who did, jumped on it. Now the test will be can he get $600 for it. Seller at that price would be well served to at least clean the bike, and install new bar tape.

Great deals around here last 15 minutes, maybe 30 minutes tops. $250 for that bike would qualify as a great deal, even here in an average market. I got beat out on a recent deal on my C/L, I contacted them within 30 minutes of their ad, and they were located in the middle of nowhere. Another forum member beat me to it. That's the way it works.

If you go to buy it, first thing is to forget about the deal the seller got on it. Its all about what the bike is worth to YOU. So he scored, that is pretty clear. I have bought a lot of bikes from flippers over the years, no doubt they made a lot of money off the deals, but I got some really nice bikes that way. Some flippers just want to move bikes, fast, and make some $$. I bought a bike last weekend from a flipper in Chicago, Illinois, the guy sells 350 bikes a year! He does nothing to them, buys them cheap, resells them, and repeats it again and again. I got a good deal from him, and I am pretty sure I paid him 5X or more than he paid for the bike.

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Old 06-05-12, 10:57 AM
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You could do a lot worse for $600 and, if that bike fits you, it will be a great ride. Offer him $550 in cash today and see if he bites.
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