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Ridiculous Pricing On Used Bikes...

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Ridiculous Pricing On Used Bikes...

Old 11-25-07, 01:16 PM
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Servo888
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Ridiculous Pricing On Used Bikes...

As many of you may know, I'm in the market for a late 80's early 90's road bike as a winter fix-her-upper, so I've been sitting on Craigslist for the past month. I've noticed that prices on bikes have been really crazy here in the south east Michigan area; take this for example:

18 speed Huffy for $80
New 18 speed Huffy for... $80

I've been eye balling a Fuji Del Rey; it's going for $75, which is sad because that's how much they went for in 1996 . I'm thinking it's time to start going to thrift stores (never been to one so this will be interesting).
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Old 11-25-07, 01:23 PM
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$80-$100 is the standard Craigslist numbskull price for early '90s Huffys.
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Old 11-25-07, 02:37 PM
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You just have to watch a lot and be ready to pounce when you see a deal. This past summer I've scored a 77 motobecane grand jubile for $60, an 84 cannondale st500 for $60, an 82 Trek 311 for $25, a sweet little kuwahara with drilled sugino cranks for $25, and a couple of weeks ago a Trek 520 for $50 although it's pretty rough. I see plenty of people that want too much for their huffys, and flippers that are selling decent bikes at reasonable but not cheap prices, and then those wonderful people that just want to unload a bike that has been taking up space. Generally the best time to look is saturday morning, call if they give a phone number, send them your phone number if you email.

As far as Thrift shops go, I was hitting the Goodwill often but they seem to have decided bikes are a big profit item and their prices have gotten really high, but I still stop in and look because to them a Paramount and a Varsity are both just Schwinn 10 speeds.

Keep up the hunt!

John
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Old 11-25-07, 03:30 PM
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Originally Posted by Servo888 View Post
I've been eye balling a Fuji Del Rey; it's going for $75, which is sad because that's how much they went for in 1996 . I'm thinking it's time to start going to thrift stores (never been to one so this will be interesting).
Assuming it it clean, ready to ride, and fits you, $75 is a good price for that bike. Most any thrift bike you find will cost that and more by the time you replace the necessary parts. Take a $20 thrift bike and add tubes, tires, tape, cables, brake pads, and housings (maybe even a saddle). You'll get north of $100 in a hurry.
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Old 11-25-07, 07:14 PM
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Any item is worth what someone is willing to pay for it. Ebay is a perfect example. After you add in shipping some items sell for more than local retail.
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Old 11-25-07, 07:23 PM
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Prices on used bikes are going up because the cost of gas is going up, its simple economics
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Old 11-25-07, 08:18 PM
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Originally Posted by ilikebikes View Post
Prices on used bikes are going up because the cost of gas is going up, its simple economics
Interesting thought; it's close to 40 degrees now and I still see people ride the bus with their bicycles. But I attribute the high prices to do the Internet. People look up how much they're bikes are going for on eBay, or similar ones, and price them accordingly. This is a great idea, but for cheap *******s like myself... You get the picture - I want the 'global economy' far away from me.
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Old 11-25-07, 08:24 PM
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i've been thinking just the opposite. tonight i just landed a pinarello, and i'm also considering a miyata commuter. both were less than i'd pay for some new pos from wal-mart. and considering a good cleaning and maybe tyres and tubes is all they need, they'll last me or someone else for a long, long time. a craigslist bike for the price of two tanks of gas? priceless!
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Old 11-25-07, 08:33 PM
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My thoughts on craigslist...

Walmart style bikes are typically overpriced, often at or above retail, despite however old the bike is.

Hybrids seem to be reasonably priced, and since most are within the past couple years, are the best deal for anyone wanting a cheap bike (though I would never ride a hybrid, fyi).

Early 80's road bikes, whether they are crap or legitimate race bikes, never seem to break $100. People apparently aren't too good at discerning the difference between a Schwinn Varsity and a Bianchi Super Corsa, and why they shouldn't be priced the same.

The bigger the city, the better the deals, but the harder they are to snag (gotta be quick!). Here in Cleveland I've only made three good deals on bikes off Craigslist. First was a 2004 Nishiki Century with full Sora, practically unridden, for $200. Second was a free (!) 1985 Panasonic Sport 1000, also basically new except it hadn't been touched for 22 years. Last was an early 80's Miyata Two-Ten touring bike for $30. I converted it to singlespeed and it's truly wonderful, way better than I could have hoped (I built it for my girlfriend).

However, in Boston this past summer there were too many amazing deals, and luckily I was too late for most of the ones I replied to. I'd be broker.
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Old 11-25-07, 08:33 PM
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Prices tend to get higher on CL when there are college campuses nearby as well. The more colleges in the area the better for selling (i.e. the San Francisco Bay Area).
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Old 11-25-07, 08:49 PM
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You know it really depends on why you want the bike. Some folks on this forum mainly pick up old bikes for cheap, any kind of old bike, and have 15-20 bikes or more. And they are often looking for a $50 bike max and would prefer if they could find it on the curb for free. Others want cheap transportation. For someone like me, it's a little different - I don't have a large collection of bikes. I only want certain particular ones. For example, I would like to run across an early 70's Bottecchia Special. Not just any Special though. Preferably it should be blue and the paint and chrome in good shape. And it should have Campy Tipo hubs. And it would be nice if it had Campy Valentino derailleurs instead of Simplex. Now there are many on this forum who would say it's still only worth $50. I'd be willing to pay considerably more. It doesn't matter if I could buy another bike that is better for less money. I don't want one of those. And the guys on eBay and CL know that and price accordingly. But these guys are trying to make a buck and they're doing me a service - I don't have the time or interest to visit every thrift store, pawn shop, or dump in town every week looking for a bargin. So if they do and they find the bike I want, I'll gladly pay a little more for it.
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Old 11-25-07, 08:51 PM
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I will chime in as someone in the SE Michigan area. I have purchased bikes off of CL, but the majority of my bikes come from Thrift stores and Garage sales. Garage sale season is over here in Michigan, but I have found 4 decent bikes within the last two weeks at local thrift stores. Three of those bikes were under $20 and the other was $50, but two parts on it were worth the asking price. To get a deal on CL you have to be very fast and be willing to almost drop everything and go buy it immediately. One thing that did help me snag one bike was I included my cell number. In this particular case the ad was posted then he left to see his parents for the weekend. He came back on Sunday with a number of emails about the CL bike he was selling. He called me because I left a phone number. I went out and looked at the bike and bought it. That also led to me buying another bike from the same seller, and possibly will led to a few more items purchased as well. Instead of listing a bike on CL he calls me first to see if I am interested in it.

I think here is the key, "Patience grasshopper". Servo888 where is S.E. Michigan are you? PM me with you location and I will tell you all of the best thrift stores in the area. I live in Ann Arbor, but my last job was a truck driver so I had the time to check out all of the thrift stores in S.E Michigan (and most of the state too).
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Old 11-26-07, 06:41 AM
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I live across the river from Detroit. Watch craigslist daily. There has been tons of deals last couple of months. There was a Shwinn Traveller with brooks saddle and bags for 125, listed for weeks it might still be there in Marine City. The advice given here is dead on, its getting that first one, then they just keep coming and then you end up with too many bikes.
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Old 11-26-07, 07:22 AM
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Iv'e been flipping bikes for a short time now and have found garage sales to my most bountiful venue. My greatest asset in this has been my lovely wife. She doesn't have extensive knowledge on bikes, she buys what "looks pretty". She is up on me 6-2 in finds, and in one outing returned with three bikes. A 50cm Nishiki Questa $10, 57cm Azuki $20, and a nearly perfect 57cm Univega Viva Sport for $30. All these bikes sold for much more with minimal refreshing/cleaning. I know this doesn't help much, as the weather in Michigan at this time isn't garage sale friendly, but if you see one it only takes a second to do drive-by. Just my 2 cents.
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Old 11-26-07, 07:35 AM
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Detroit CL Univega Grand Record Ultra 105 equiped 100 or best. Posted yesterday.
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Old 11-26-07, 07:46 AM
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Sorry for the multiple postings theres Schwinn Varsity 45 or best and that traveller is back 150.00 offer him 100.00 its been for sale for months. Lets get this guy a bike.
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Old 11-26-07, 07:56 AM
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In the spring and summer I consistently sell 3 spd and 10 spd huffy bikes in the $85-$110 range. They are a lot better bikes than what you get at wally world and I haven't had any complaints about them. As someone posted above, a lot depends on your location and your general knowledge about bikes. I sell mostly to college kids that are just looking for something to get around campus and they don't care about the name as long as it does it's job.

On the other hand I found a sweet mid-late 80's schwinn super sport in near mint condition with full shimano 600 off craigslist for $30 and it had been posted for a a few days. Just the time of year I guess.
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Old 11-26-07, 08:03 AM
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Any bike that is solidly useful is worth $100. I would never bother flipping something that will not hold together, but I do bother flipping a bike, even a huffy, if it is usable for for a few seasons.

I would only consider buying a Huffy level bike to flip if it was in very good shape and the price was very low. As others mentioned, if tires, tubes, cables, and bar tape are required, then already the thing may be in the red.

Here is my rationale for charging, say, $100 for a Huffy-like bike that I bought for $15: For that $85 fee, I provide the following services: I spend my Saturdays and evenings looking through thrift stores, dumpters, CL ads, Ebay ads, curbs, swap meets, and garage sales to find the bike; I clean it; I repack the bearings; I get the brakes and shifters working smoothly; I make reasonably sure the bike will hold together for the forseable future.

I think that $85 for that service is not unreasonable. I usually sell bikes quickly, so my market seems to agree. I have had others (on the ss/fg forum) claim that this is a rip-off, and I disagree. Since we can and we want to do these things for ourselves it would be silly for us to pay for these services. But most people can not, or do not want to. There is nothing wrong with that. The whole purpose of money is to exchange it for something one wants. Some people will exchange money to save time. I sell people time.

Most of the bikes I have sold have gone to people that were not really bike-people. They simply wanted or needed a bike. We all know that such a person is going to abuse the crap out of their bike. I am very confident that the bikes I sell them will hold up better than the typical unmaintained Xmart bike. And it likely is cheaper. And rides better. And does not consume any additional resources to produce. And makes me a small amount of profit that I can use to feed my addiction. Cooler bikes for me, that is.

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Old 11-26-07, 08:04 AM
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Originally Posted by Servo888 View Post
Interesting thought; it's close to 40 degrees now and I still see people ride the bus with their bicycles. But I attribute the high prices to do the Internet. People look up how much they're bikes are going for on eBay, or similar ones, and price them accordingly. This is a great idea, but for cheap *******s like myself... You get the picture - I want the 'global economy' far away from me.
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Old 11-26-07, 08:09 AM
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One of the biggest reasons that Craigslist pricing has climbed is the amount of folks that are "flipping" bikes. It seems that if the bike is a good deal it is gone by noon and back on the list weeks later with new tires and brake pads for a whole lot more.

I'm not knocking the flippers, they do serve a function and often offer a good value. I've tried it but I have a bad habbit of either fixing the bike as if I was going to ride it myself then finding the I'm just able to sell it for what I've got in it, or, liking it too much to sell it thus expanding the "collection".
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Old 11-26-07, 08:24 AM
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Originally Posted by greybeard87 View Post
I've tried it but I have a bad habbit of either fixing the bike as if I was going to ride it myself then finding the I'm just able to sell it for what I've got in it, or, liking it too much to sell it thus expanding the "collection".

This is the most dangerous part of the job. Every bike I fix up I fall in love with. John Locke claimed that personal property is created by a person mixing their labor with capital. He certainly seems right about me and bikes. I feel bad every time a bike leaves.

jim
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Old 11-26-07, 08:42 AM
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I've cut back my flipping of bikes considerably in the past year (my resolution: work on and ride my own bikes more rather than ones that someone else will ride), but I still scan the Boston Craig's List regularly and still see lots of flippable bikes out there. For example, this $80 Motobecane Super Mirage would be an easy conversion to single speed with minimal expense and then would be an easy sell for $160, as would this Univega. And even the ones that are being flipped by others in the $100-200 range would make fine everyday riders if that's what I was looking for, such as this one.

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Old 11-26-07, 02:09 PM
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Ann Arbor cl 2 fujis $85 and $35. Also a park pre frame for 50.00.
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Old 11-26-07, 06:43 PM
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Originally Posted by jgedwa View Post
This is the most dangerous part of the job. Every bike I fix up I fall in love with. John Locke claimed that personal property is created by a person mixing their labor with capital. He certainly seems right about me and bikes. I feel bad every time a bike leaves.

jim
There is so much in this thread that I read and agreed with, I didn't know where to start, but jgedwa's quote was one of the best. I have the same problem and worked my way up to 47 bikes to prove his point. Then the wife said, OK how about selling a few. So I did this month.
I have to agree with all those that have seen a rise in used bike prices. I finished cleaning, lubing and adjusting/repairing four bikes over this weekend and put them up for sale on CL. All four sold for asking in less than 48 hours with multiple responses for each bike. To be honest, I thought I was a little high on each of the prices and thought, in November, even in temperate North Carolina, these will be a hard sale. I was incorrect.
I checked prices of other bikes and it's nuts out there. People are actually selling X-mart bikes for more than they cost at X-mart! There's a 1987 Trek 330 going for, believe it or not, $400!!! Nice bike, but $400? Now I know why my $80 Schwinn Super LeTour, flaking decals and faded paint, sold instantly. I guess as they say in the stock market: SELL, SELL, SELL!
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Old 11-26-07, 06:50 PM
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Craigslist is haven to profiteers. In many instances I've found it's cheaper to buy on ebay and pay shipping, than it is to pay the prices people ask on craigslist. Of course you also have the opportunity to haggle with people in real life, but generally the prices on craigslist are so asinine it's not worth the bother.
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