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Is this bike overpriced?

Old 07-01-13, 12:49 PM
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formicaman
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Is this bike overpriced?

Ok, first of all I worry about posting this because it's about a bike I'm selling which means it's technically commercial, BUT, all you guys and gals HAVE too many bikes already. So anyway - I have a '77 (or so) Raleigh Competition. It has most of the original/Campy parts except for the pedals and seat post, which I replaced with ones more to my liking and sold. It also lacks the original saddle which I was using on another bike... which was stolen (hence needing to raise some funds). I also currently have it set up with Northroads with VO brake levers, although I have the old levers and drops. The bike has no decals and may have been repainted at some point - there are a fair number of chips on the paint, although the chrome ends are nice. I'm asking $350 on CR - is that a fair price?

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Old 07-01-13, 12:56 PM
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I wouldn't pay that much. Set it up correctly and you're closer, but as-is it would require too much money to make "right" that it wouldn't be worth the effort.
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Old 07-01-13, 01:11 PM
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Wrong forum:

https://www.bikeforums.net/forumdispl...-and-Inquiries
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Old 07-01-13, 01:23 PM
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In Philly you can probably get that. I sold a Competition GS that was totally non-original (except for the headset) with a nice alloy SA 5-speed wheelset for over $400 not too long ago.
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Old 07-01-13, 02:32 PM
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In my opinion it is over priced for our market...substantially so. For a mish-mosh mid-level bike, I think $250 is top dollar you'll get here (and I'm not sure you'll get that). When I saw your posting, I thought GOOD LUCK! Give it a shot, maybe someone will bite and people do get lucky. As far as average value, I think you;re over...especially given the time of the year.

I think the ad could also highlight its strengths better and who should be interested.

For what it's worth, I had an original condition, original parts Competition that took me a month to sell at $350...and the buyer came down from NYC (not local). I think yours is worth less.
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Old 07-01-13, 03:11 PM
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Originally Posted by oddjob2 View Post
Sorry, but you'll need much better photos to attempt to break $300. IMHO, $350 is high, maybe $275ish.
Yep. A good drive side shot with a neutral background. That dark picture of the badge isn't doing you any favors, either.

Post close ups of those Campy dropouts you mention.

Don't mention the bikes weight, or the saddle, handlebars, seat post. In fact, there is just too much chatter in the whole ad. Tighten it up. Just talk about the positives. Let your pics speak for themselves.

Just my $.02
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Old 07-01-13, 03:32 PM
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Like others have said without most of the original stuff, saddle is understandable, but the funky bars and brakes, seat post, and whatever else was butchered off the bike is not understandable, it just isn't worth $350, maybe $150, someone may need it to cannibalize parts off of it for a project.
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Old 07-01-13, 04:22 PM
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I would say in a good market $250 or so on CL. While nice the current none original setup limits buyers somewhat to those who would want this setup. With the none original paint and no decals I don't see this bike getting $350 in most markets.
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Old 07-01-13, 04:39 PM
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Bad photos, missing decals, non-original parts, and a so-so bike to begin with. I agree with around $150. I just don't see any more than that.

Edit: if it's actually Reynolds 531 instead of 501, that changes things. But I still don't think it's worth more than $200. To repeat everyone for the hundredth time, good photos are a must.

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Old 07-01-13, 04:57 PM
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I think these guys are too pessimistic, but I agree that you need good pictures.
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Old 07-01-13, 05:08 PM
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I feel like I know the Philly market well...with a good ad, it's a 200-250 bike.
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Old 07-01-13, 05:24 PM
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Deleted my original post, but you still need better photos. And to answer your title question, yes it's too high!

Formicaman, you have this on ebay for $350 minimum bid!!
Two sales over this amount are in 9+ condition, at $365-$395.
Two sales for fair-average condition, more original than yours and with decals, were in the $250 range. Shipping is high, but those bikes may have been sold to locals.

Also, all four of the above bikes sport 531 tubesets, are you sure yours is 501?

Some suggestions:
Don't refer to BBC pricing on ebay, the $700-$1000 sales, those are asking prices, not closed deals, and for the most part pure B.S.
Don't embellish and oversell with "pretty cool, pretty light." Sounds pretty desperate. Just layout the facts and follow the Chinese proverb, "a picture is worth 1000 words."

Finally, don't be discouraged that you are selling with upright bars. There are plenty of conversions out there, and hybrids and city bikes keep selling.

But as-is, I'm thinking $200 tops.
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Old 07-01-13, 06:23 PM
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It's 531, not 501.

A $350 opening bid is nuts. If you want people to bid, you have to start it low. If you want to do buy it now, just do buy it now. I agree, don't embellish and especially don't refer to BBC.

I think as is that is easily a $250 bike, but the market will tell. Some are saying it's a $150 bike, but I totally disagree. The frame is probably $125 to $150 alone. The only people who care about "original" are people like us--the average buyer doesn't care. Hell, I don't even care, and I like this kind of stuff.

Anyway, it also appears to have the original 3-arm Campy GS crank--they go for good money ($75 to $150) alone. OP says it has the pedals and seatpost--but the photo says no? He says he has the drop bars and levers, I'd consider installing them.
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Old 07-01-13, 07:53 PM
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I don't mean this to be mean.

When I see similar combinations of this sort of bike in this condition, with a photo like that at that price point, my first thought is 'someone is going to get ripped off'.

In the areas that I have lived, this bike is way over priced. The photo is irritating, I don't get a good sense of the bikes condition, if I am shopping for a bike a faux-artistic, washed out photo doesn't help me.

Campy says "race" but this setup says "cruiser". I have to wonder how much you know about bikes.

To me, repaint means rust and/or abuse. No decals with campy, vo, etc. and I begin to wonder if there isn't something nefarious going on. Like maybe someone stole a bunch of bikes, swapped some parts around, not really knowing what they were doing and is now trying sell off the stuff.

just my thoughts, my intent is to help.
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Old 07-01-13, 09:27 PM
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Thanks all. I'm pretty sure I'll end up cutting the price and sharpening up the ad some. The guy who sold the mountain bike I just bought started at $900 and ended up at $425. Of course, I could put the old bars and brakes back on. Honestly, only the pedals and saddle are really missing - and the seat post, but jeez that thing was annoying.

Hoping I can get some decent pics if it ever stops raining!
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Old 07-01-13, 09:37 PM
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If you have the original parts then put them ALL back on then try selling if for $350 and see what happens, the worst that will happen is somebody offering you $250. Also make sure the bike is completely clean and waxed to shine, just don't get wax on the brake surface of the rims or any test riders might be in for a surprise.
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