Like perhaps many of you, I check in on Craig's List and eBay from time to time. And over and over I see ads for 5 year old bikes offered at 80-90% of their original list prices. Hey, it's a free market and more power to them if they can get their price...but they can't. I've contacted people with month old or older listings, and invariably find, a) the bike is still available, and, b) they get very testy and offended if I suggest that perhaps $800 for a 2009 Trek 7.5 is a tad on the high side. That in a month or so, when the 2016s come out, bike shops will be selling 2015 models at 20% off, brand new, with warranty, and after sale service. "But it's only been ridden twice!", they howl. I try to break it to them gently that it's the nature of the beast (kind of like gym memberships) that there will always be a goodly number of bicycles for sale that have "only been ridden twice".

People with, for example, 5 year old golf clubs seem to have no trouble with the concept that they've depreciated considerably, but bike owners -- particularly ones who aren't really bike riders -- seem inherently resistant to the notion. Is it that during one of the two rides they took they fell on their heads?

Just an idle observation.

I noticed the same thing when I was looking to upgrade my old Schwin. In the end I thought it was worth paying $200 more for a new bike and knowing that I had the new bike warranty and the bike shop covering my new bike.

I bought mine new and i will ride the dickn out of it then peobably give it away

Someone wants to sell something, they go on CL looking for the price of similar item. They find said item for stupidly high price (hence it still being on CL). They think that is the price they can get, so they ask for that price. Their item stays there for months, strengthening the cycle as now there are several items listed at ridiculous prices.

Whenever I see a good deal on CL, it disappears in 1-2 days. Others stay there forever.

You probably nailed it, Pepe. Although there does also seem to be an element of willful blindness involved: when I suggest in all disinterested good will (they never put the size of the bike in the ad and I'm responding to their response telling me and it's not close to what I need) that they take a look at ebay completed items to see what the real world market will bear, or even offer to send them some links, they growl. And a month later, there's the bike at the same price.

Or maybe it's like the old joke about the beggar selling pencils on the street. A kindly, prosperous gent stops, asks how much and is told $10,000. The gent objects that it's ridiculous and tells the guy he's not likely to sell many pencils at that price, and the poor man replies, "Yeah, but if I can just sell one..."

And, again, why just bicycles? They seem, almost uniquely, to be the $10,000 pencils of Craig's List.

The used bike market is an odd market.
Is a 10 yr old bike truly worth next to nothing... especially if it has been ridden infrequently and well cared for?
What if a similar model is still being made and sold, at more than the original price?

Can one upgrade the bike, for example replace Claris 8s with Ultegra 11s (doing a thorough and good job)... Then what is it worth?

And what if the parts are worth significantly more than the whole?

There also seems to be a great convergence in prices. So, a $200 bike might drop down to $100, but a $1000 bike might drop down to $200 or $300.