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Is there a rough formula for pricing bikes for 2nd hand sale? I'm seeing one tomorrow that is only a few weeks old, been ridden a handful of times and has few scratches. It's a 2011 model and has now been reduced online by 15% of what the seller paid for it. Any idea on what is a reasonable offer percentage-wise of the total original price?
50% to 40% usually if you want to sell it easily.
A lot of 2011 stuff is for sale new with 15-20% off list...
You have to start with 50%. It's not new, I doubt there's a warranty. It's scratched - a shop soiled un used bike will probably have 30% off. And 2011 bikes will be going cheap in a few months.
The exception to the rules are bikes like Turners, Nicolai IF etc.
It's not new, I doubt there's a warranty. It's scratched - a shop soiled un used bike will probably have 30% off.
Thanks. The bike isn't boutique and when you put it that way I feel more confident in my 50% offer. While it's "business" an' all that I do feel for the seller as he's young, only bought recently and prices online have just dropped.
Usually a third in the first year
Interesting. Just got back from a meet-up and he's certainly more of the mind of 33% off what he paid.
I meant a third off not a third of the price
1/3 off what it can be bought for seems reasonable to me, that's not going to be the same as 1/3 what he paid, which is irrelevant!
agreed
It's impossible to find a hard and fast formula as with all selling it comes down to what the market will bear and the bottom line is how bad do you want it? I've sold bikes for peanuts, £200 spotless town bike (6 months old) went for £41 and I've made killings, £425 Giant which I paid £250 for new (as good as, 12 miles at London Tri), I sold for £195 four years later! It was very well looked after though.
There is no hard & fast rule as it really depends what it is you are selling.
Scour the classifieds and Ebay, see what stuff goes for and base it on that.
about two thirds of what you could sell the components for.