Second hand prices

[Hairsy]

I'm currently browsing classifieds for a project for the winter. I want to do a project because I really enjoy bringing something back to life and / or dealing with cosmetics to make it more attractive. I don't do it to make money but, equally, I don't want to lose money. I'm generally looking at bikes around 15-25 years old.

 

What I'm seeing in classifieds is that people are (in my opinion) grossly over-pricing bikes that need work. For example, if a good condition model costs £1,500 then bikes with knackered fairings / no MoT /  non runners or running badly / cracked tyres / masses of corrosion / etc are being advertised for, say, £1,300.

 

It seems that sellers don't understand the cost of repairs and, particularly, the risk that a purchaser is taking re the unknown problems and / or the lack of availability of parts.

 

If I was looking for a bike to just use then it wouldn't matter at all - I'd just buy the one for £1,500. But that's not what I want!

 

And, as a result, I'm seeing a load of overpriced bikes that aren't selling.

 

I'm not sure there's a solution - but it helps to rant a bit!

[AstronautNinja]

I don't know if bikes have felt the same hit as cars during / after the chip shortage but after searching for a used car for the missus I can confirm people are asking silly money for sheds 

[rob m]

Make lower offers, if they want to sell they'll take it. I made a low ball offer for a previous bike in 2020 and he told me to do one...24 hours later he was asking if I was still interested and he accepted the offer. 

 

I agree though, people (and dealers) and truly taking the piss these days. However, it's amazing what people will accept when offered an amount compared to nothing. Worth a try.

Edited September 7, 2024 by rob m

[AstronautNinja]

For some absolutely unknown reason my cousin bought an ex rental, automatic Corsa pre covid and ended up selling it for a profit when the chip shortage hit

 

Making a profit on the world's least desirable, most abused car available is a spectacular feat. 

[bud]

Yeah prices are silly now. 

If you are doing up a bike it doesn't make sense. Tyres, chain and sprockets. Few other consumable bits, make it well over what it's value is.

[Mississippi Bullfrog]

This is why I gave up restoring old cars for fun. The days when you could buy a wreck cheaply are long gone. 

 

May I recommend model boats instead?

 

 

[Tinkicker]

Unfortunately, in this day and age, no one can make a profit out of projects.  That is unless the project when finished is a poor quality, lipstick on a pig, ebay "restored" job.  Fully restored using two rattlecans and a tin of degreaser over the weekend.

 

A lot of bikes out there are overpriced.  They are also not selling.  I would suggest hunting out higher mileage examples to get the best price.  Of course, this makes it almost immpossible to sell when the time comes.

 

I bought the VFR for a very good price because it had 29000 miles on the clock, nothing for a VFR, yet 29000 miles is perceived to be a lot in motorcycle terms. 

This is because historically, very few bikes have lived long enough to see 29000 miles.  Most get written off far sooner. 

 

Modern motorcycles if looked after, are every bit as durable as a car, yet high mileage is still very frowned upon. 

Hell, back in the day of my time at the motorcycle activity centre, I managed to encourage Yam SR125s past the 40000 mile mark.  CB500s went well past 80000 miles without problem and the Dullville instructors bikes 100000 miles plus, only thing which stood out was fuel pumps every 30000 miles.  All these bikes were running 8 hours a day, 7 days a week and replaced every five years.

 

So, I had a VFR, never dropped, never used in the wet, serviced and MOTd, annually at the dealers and with undamaged panels and tank with original, unfaded paint.  No one was interested. I had searched for years for such a machine to turn up.  Mileage did not bother me as I had no intention of selling it.

I offered £350 less than the asking price and the dealer grudgingly accepted after a bit of soul searching.

 

I long for the proverbial little old lady in the village to ask me if I want to buy her long emigrated sons old motorbike for £100 as she needs space in the shed.  Of course, the result I want would be to lift the dust cover off a RC30 that had been sprayed liberally with waxoil, carbs removed and stored in an airtight tin box, and engine carefully inhibited wiy fogging oil,  before being stored 30 years ago.

 

I will not even see the reality, unless I am very lucky as some people seem to be. That reality being finding a honda 50 cub, put away covered in road salt, with seized engine, holes rotted through in the frame and swingarm, an exhaust seeming constructed from metallic lace and mice living in the seat foam.  "I want four fifty mate, can't take a penny less, its a classic innit".

 

Even that is a rare occasion these days.  Every old nail sat in the shed is now perceived to be a "classic" fit for a concours restoration and worth oodles.

 

I call it the Henry Cole effect.

Edited September 8, 2024 by Tinkicker

[Old-codger]

10 hours ago, AstronautNinja said:

For some absolutely unknown reason my cousin bought an ex rental, automatic Corsa pre covid and ended up selling it for a profit when the chip shortage hit

 

Making a profit on the world's least desirable, most abused car available is a spectacular feat. 

The price of small auto cars have gone through the roof over the last few years. Its all to do with new drivers finding them easier to drive and in the end with EV motors everthing will be an auto. So why bother learning on a geared vehicle.

[Nick the wanderer]

Just tell them what you want to pay, what you feel it's worth, be polite, and tell them why, but if you can't agree move on.

You are going to have to put your hand in your pocket at some time. Or wait until the dead of winter when folks are feeling the squeeze.

 

[Geordie Oldie]

OP, where are you looking?

 

Facebook marketplace has some apparent bargains, I nearly bought a Suzuki RF900, needed a new rear tyre but he would have let me have it for 700 quid.

 

I try to stay off it as there is so much temptation out there.

 

Might depend where abouts i the country you are.

 

Edit, just checked and the prices are bonkers, I must be out of touch.

 

 

Edited September 8, 2024 by Geordie Oldie

[Hairsy]

18 hours ago, Geordie Oldie said:

OP, where are you looking?

 

Facebook marketplace has some apparent bargains, I nearly bought a Suzuki RF900, needed a new rear tyre but he would have let me have it for 700 quid.

 

Edit, just checked and the prices are bonkers, I must be out of touch.

 

 

 

I'm looking at Gumtree, eBay and FB Marketplace. And, yes, the prices are bonkers!

 

I'll keep looking and maybe try some fair but low offers. I've tended to shy away from making very low offers as I don't like to insult people. But, as has been mentioned, I can explain the reason why and ask politely.

 

When I eventually find something, I'll of course start a new thread in the project forum.

 

Unless it's a beautiful pre-coveted RC30, in which case I'll keep quiet about it as Tinkicker will be too upset!

[AstronautNinja]

On 09/09/2024 at 08:07, Hairsy said:

 

I'm looking at Gumtree, eBay and FB Marketplace. And, yes, the prices are bonkers!

 

I'll keep looking and maybe try some fair but low offers. I've tended to shy away from making very low offers as I don't like to insult people. But, as has been mentioned, I can explain the reason why and ask politely.

 

When I eventually find something, I'll of course start a new thread in the project forum.

 

Unless it's a beautiful pre-coveted RC30, in which case I'll keep quiet about it as Tinkicker will be too upset!

Market place low balling is a genuine profession these days it seems

[Fiddlesticks]

Yep - I got a few "what's the very best price you'll go to" - type messages.

 

Best for who? I've no upper limit really.

[AstronautNinja]

4 minutes ago, Fiddlesticks said:

Yep - I got a few "what's the very best price you'll go to" - type messages.

 

Best for who? I've no upper limit really.

I can't stand the cvnts that just message a price and nothing else 

[Fiddlesticks]

1 minute ago, AstronautNinja said:

I can't stand the cvnts that just message a price and nothing else 

There's always the classic "how low can you go on it?"

 

- "About 3mph, anything slower and you'll topple over"

[RideWithStyles]

wouldnt that be “about 50 degrees”?

 

 

 

 

[Capt Sisko]

In the meantime:- In Australia a 1979 CBX1000 has just sold for 45,500 AUD (or just over £23,000). Whether that included the Buyers Premium of 12.5% I don't know. Either way that's a lot of money.

Burns & Co - CBX

 

Admittidly it is for an original & unmolested bike with only 2,651 km (1,650 miles) on the clock, but the description talks about it having been stored for many years so a lot of rubbery sort of things are likely to need replaceing before it's ridable. More expense. 

[bud]

A shame, but that CBX is not likely to be ridden.  

[RideWithStyles]

Yep a garage queen.

the other likely hood it wont be ridden is because a lot of parts will not be available anymore, so then much deviation from its original and mileage will greatly affect its value and appearance to the geeks…shame.

Dont think too many modern bikes will be fondly missed or viewed as a game changer to appreciate vastly… probably the original mt07-9/10, bm s1000rr and the odd Ducati like the first v4,last v2 and the mono.

then I wonder if parts will be available for these further down the line?

 

[Ian Frog]

To be fair a lot depends on "how far down the line" will actually be ?

I wonder what happens to values once we are told to stop using squashed forests and dinosaurs in the tank?

Cheers

Ian

[RideWithStyles]

If you are young now then you’ll be affected by the change over but if your old/er then if wont affect you as much especially if you bought your “new and last bike” with your pension cashed in then that will see you through.

 

10-15yrs? Most car manufacturers supply for 15-25yrs for most common parts they say, generally ‍. 
but then there is the 3rd party pocket lot that might fill the hole for a bit if it’s a popular model.

Bikes manufacturers dont follow the same principles especially as the quantity of bike sales are a lot lower -Asians and Indian market scooters not including, some are better than others in older model support. 

 

They will go down then go up when “Only the finest examples survive” in someone’s collection.