Author Topic: Potential Resale Value  (Read 11656 times)

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Offline guiness

Potential Resale Value
« on: August 30, 2009, 12:32:04 pm »
Hi,

I am coming over from the UK in the spring to ride from New York to San Diego. I am looking to buy a Trek 520 once i get to New York and to sell it once I finish. Im not too sure of prices across the pond, but am estimating spending about $1500 once I have upgraded the saddle and rack. How much do you think people would be prepared to pay for a bike which will have done four thousand odd miles? If I cant make much back on it then I would have to think about shipping by bike over!!

Cheers

Offline DaveB

Re: Potential Resale Value
« Reply #1 on: August 30, 2009, 09:55:38 pm »
Generally used bikes lose a lot of their initial value very rapidly unless they are of great historical interest or can be shown to have been ridden by a very famous person. (I assume Lance's 2005 TdF winning bike is still worth a lot of money even used. :) )  Those owned by us ordinary folks aren't worth much.

You would be lucky to get 50% of the new cost back and that would require finding a willing buyer which will take some time.  Look on various Craigs List or E-bay sites to get a feel for what used touring bikes are going for. Unless you have absolutely no need for it back home, I'd ship it back after the trip.

Offline bogiesan

Re: Potential Resale Value
« Reply #2 on: August 31, 2009, 08:40:08 am »
Don't know about your tax situation on foreign soils, bt there may be more value in donating the bike to a good cause. If you decie to sell it, you've got to figure the hassle of doing so as part of the cost of the transaction. How will you advertise, offer test rides, and then accept payment in the limited time before your flight leaves?

david boise ID
I play go. I use Macintosh. Of course I ride a recumbent

Offline guiness

Re: Potential Resale Value
« Reply #3 on: August 31, 2009, 12:31:27 pm »
Cheers for the replies, so you reckon about 50%. I am staying down in california for about a month when i finish with some friends so would have a base to sell it. Just have to work out what would be cheaper. Buying and selling and loosing 50% or buying a new one here in the UK and shipping it back and forth. I have a bike now, but its not for touring so need to buy a new one anyway.

Offline johnsondasw

Re: Potential Resale Value
« Reply #4 on: September 01, 2009, 01:08:09 pm »
Cheers for the replies, so you reckon about 50%. I am staying down in california for about a month when i finish with some friends so would have a base to sell it.

This is an ideal setup for selling it.  If you're there for a month, it's likely your friends or some of their contacts may know someone, etc,etc.  You are more likely to get a decent price if you have connections to people who can vouch for you and you're not just some random guy out here no one knows.  So I would try to work that angle.  In fact, you could alert these contacts now even before you start so they could start talking about it amont their contacts.
May the wind be at your back!

Offline paddleboy17

Re: Potential Resale Value
« Reply #5 on: September 02, 2009, 12:33:15 pm »
Cheers for the replies, so you reckon about 50%. I am staying down in california for about a month when i finish with some friends so would have a base to sell it. Just have to work out what would be cheaper. Buying and selling and loosing 50% or buying a new one here in the UK and shipping it back and forth. I have a bike now, but its not for touring so need to buy a new one anyway.

You know, you can never have too many bicycles...

I think there is an argument for buying a bike in the UK and shipping it back and forth.  My temperment is such that I don't think I could ride on a unknown bike.  I would want to try the bike out, and establish my confidence in the bike, before committing to a ride across the USA.  Not to mention the whole task of finding a dealer that you trust and ordering a bike that is your size.  Here, a 520 is around $1200.  Unless you can stay for free with friends, what are the costs of staying in a hotel while you wait for a dealer to get a 520 and build it up.

I just home from doing the GAP.  I was reminded of something I saw while riding the Katy Trail a few years ago.  Lots of people get on whatever bike they have, including pieces of crap (as we say in the states), and just ride.  So maybe I am too particular.
Danno

Offline alfonso

Re: Potential Resale Value
« Reply #6 on: September 02, 2009, 07:33:40 pm »
I think the Paddleboy speaks wisdom. If you need a new bike, why not buy one in your own time where you live, be confident that it's the one you want, and ship it both ways? Even with an extra month in California to sell it, is it worth the hassle of waiting for phone calls, dealing with timewasters and perhaps having to settle for less than you wanted, when you need a new bike after all?

Offline DaveB

Re: Potential Resale Value
« Reply #7 on: September 02, 2009, 10:22:38 pm »
Not to mention the whole task of finding a dealer that you trust and ordering a bike that is your size.  Here, a 520 is around $1200.  Unless you can stay for free with friends, what are the costs of staying in a hotel while you wait for a dealer to get a 520 and build it up.
This brings up an important point, if you do plan to buy the bike after you get to the US, you MUST arrange for it well in advance.  Contact dealers and find one that will have exactly the bike you want, in the size you need and equipped as you want BEFORE you arrive.   You can pay by credit card to assure the dealer you are serious but be certain the bike is accounted for and in stock before you arrive. 

Do not arrive here cold expecting to buy what you want just by walking into a couple of dealers at the last minute.

Offline guiness

Re: Potential Resale Value
« Reply #8 on: September 08, 2009, 06:04:21 pm »
Cheers guys for all your advice,

I have looked into shipping and I can get it on the plane for not too much money so long as its nicely packed. I think though that if the exchange rate improves my end it might all be cheaper buying over your side, bikes are expensive here!

Take it easy

Offline DaveB

Re: Potential Resale Value
« Reply #9 on: September 11, 2009, 07:32:28 pm »
If bike prices here are attractive enough it might be a good move to buy here and then ship the bike back when you go home.   A shipping cost of $50 to $100 is probably typical if you take it on the airplane with you or ship it UPS or Fed-Ex.

Again, if you decide to buy here be CERTAIN the bike is in stock and waiting for you before you arrive.

Offline BrianW

Re: Potential Resale Value
« Reply #10 on: September 28, 2009, 02:18:23 pm »
From my perspective, good touring bikes hold their value better than your normal bike. This is mainly due to the scarcity of finding them used (or new, for that matter). One suggestion would be to look on Ebay, Craiglist, etc., and find a used one that you could buy before arrival. Have it shipped to your friend's house, and then have them ship it to you on the East Coast when you arrive. Allow a day or two when you arrive to get it set up to your liking, tuned up, etc. (or have your friend do it for you before sending it on). Then, resell it when you finish and you'll likely recoup nearly 100% of your money.

Another option is to buy a touring bike from a store like REI (www.rei.com) that offers an unconditional return policy. Buy it on the East Coast, return it in California. Not the best karma in my opinion, but it's an option (and I know someone who did it... not me!). REI does have some decently priced touring bikes, too, so I'd consider them in any event. Plus, they have stores across the country, which makes for good customer service when touring.

No matter what you do, I think you'd have a good chance of selling your bike at the end of the trip, given that you have a month to wait around for a buyer.

Offline DaveB

Re: Potential Resale Value
« Reply #11 on: October 01, 2009, 10:20:07 am »
Another option is to buy a touring bike from a store like REI (www.rei.com) that offers an unconditional return policy. Buy it on the East Coast, return it in California. Not the best karma in my opinion, but it's an option (and I know someone who did it... not me!)
This may be possible as REI and some other retailers do have unconditional return policies but the morality and honesty of what you describe are very poor.  It sounds just like fraud to me.

Offline johnsondasw

Re: Potential Resale Value
« Reply #12 on: October 01, 2009, 10:54:46 pm »
the morality and honesty of what you describe are very poor.  It sounds just like fraud to me.
Well put.  I had the same thought.  It never pays in the end to not do the right thing.
May the wind be at your back!

Offline BrianW

Re: Potential Resale Value
« Reply #13 on: October 17, 2009, 12:10:44 am »
the morality and honesty of what you describe are very poor.  It sounds just like fraud to me.
Well put.  I had the same thought.  It never pays in the end to not do the right thing.

Note that I said "not good karma in my opinion" and that I personally wouldn't do it. I was just saying that I know someone who did it. While morally not acceptable, it's not fraud, as REI does offer an unconditional money-back guarantee, which would presumably cover "changing your mind."

Much better to buy a used bike and then resell it at the other end on Craigslist, Ebay, or a similar venue.

Offline DaveB

Re: Potential Resale Value
« Reply #14 on: October 17, 2009, 11:52:32 am »
Quote
While morally not acceptable, it's not fraud, as REI does offer an unconditional money-back guarantee, which would presumably cover "changing your mind."
The reason I consider it fraud is that the original purchaser set out expressly to buy, use and then return the item.  He/she didn't "change their mind", they used the return policy as a specific tool to get value from someone else's property with no intent to pay for it.