How do you value a second hand bike?

I’m wanting to give a fair price for a second hand bike to sell to a friend. The bike is in excellent condition with everything upgraded as is often the case. He doesn’t know much about bikes so is not in a position to make his own detailed judgement (except for common sense and he is an intelligent chap). I have worked out the cost new (at sale / discount prices where available and not rrp) and essentially given a price of 50% of that. Nothing needs replacing or repairing – I’m selling to buy a bigger frame and he approached me and asked if I was selling when I said I’d just bought a bigger frame.

Cheers

Neil

50% off RRP for “a bit used and not old” I’d say. Upgrades often aren’t worth much.

Ask on the classifieds?

Your method seems pretty fair to me… ultimately it’s worth between what someone will pay and what you want to sell it for.  In my experience building a bike costs according to the time frames.  That is if you had a leisurely year you’d get more or less everything at 50%…. vs what’s on sale right now?

50% of sale seems low if he is getting a ready to ride bike with no waiting….

When you say bigger frame I’m guessing you mean a whole bike with  bigger frame or presumably you’d want to be using your upgraded components on the new frame?

How much do you want to sell?  How much does he want to buy?

Since its a friend then is it one option to sell him the “new unused parts” ??  (As in price up a similar frame and then what it would cost to buy new components then give them a choice between new and partly used)

You might get a little bit more that way without either of you feeling you’re overpricing or underpricing?

Just a idea?

Anything some sold on eBay/classifieds lately?

Glad broadly you agree

It’s interesting because I don’t stand to benefit because I was planning to use the components on the new frame (except wheels since new frame is not QR). The sale of the bike as a whole will probably leave me short by a few quid but I’ll have the benefit of a new groupset funded by the sale. But I’m keen to sell it a fair price to a friend so I don’t mind.

Nothing much else to compare to really: genesis vapour frame, carbon genesis forks, 105 groupset with hydraulic STI shifters and shimano RSsomething disc brakes (really awesome brakes for commuting), hope headset and kinesis crosslight wheelset. Genesis saddle, post, bars and stem. Conti 4 season tyres, rack and sks mudguards.

He definitely wants a ready to ride bike.

Cheers

N

stealth ad #reported

I was told 50% from new

Then 10% less each year after.

Not a stealth ad – no need to report or was it ‘tongue-in-cheek’ comment?

Sell to my friend or it gets split and transferred to new frame and the frame / wheels sold separately

Cheers

Search eBay completed listings, then deduct 20% to account for “bidding fever”…

I always use ebay and filter for sold (not completed) items. If theres a few, average them up.

Unless the newer ones have changed the rear end, allow at least £100 for the service of fitting mudguards to a genesis disc roadie/crosser

The 50% and 10% thing is complete rubbish mostly. For example i have a Whyte T-130SX, 2015, using the logic that i paid £1300 for it and it’s 2 years old, it’s now worth about £500 using that logic.. However, i’ve seen the same model sell lately for £900-1000 so it’s not worth £500.

It can depend on the model, the spec, condition etc.

Use the eBay sold/completed listings checkbox to get an idea for prices.

As it’s for a mate I’d then probably knock another 25% off the typical price due to goodwill, no sales charges and ease of sale.

Eg.  Calibre Bossnut

https://www.ebay.co.uk/sch/i.html?_from=R40&_nkw=calibre+bossnut&_sacat=0&LH_Sold=1&LH_Complete=1

Going for a typical 500 with lowest of 420ish, but also going up to 600+.  I’d take that 500, take off 25% and 375 is your magic number.

Also, depends on how rich you are and how rich he is.  Sometimes 50 or 100 quid less for a mate looking for a cheap  hobby is clearly the right thing to do.  If they’re picking it up in a brand new BMW then not quite so needed!

I always use ebay and filter for sold (not completed) items. If theres a few, average them up.

eBay prices are just random though…

I often track stuff and then see a used component selling for more than a new item that can be purchased right now.  (not even being sophisticated but just using the google shopping search) then inexplicably there will be some complete bargains.

It’s interesting because I don’t stand to benefit because I was planning to use the components on the new frame (except wheels since new frame is not QR). The sale of the bike as a whole will probably leave me short by a few quid but I’ll have the benefit of a new groupset funded by the sale. But I’m keen to sell it a fair price to a friend so I don’t mind.

…..

He definitely wants a ready to ride bike.

If its a good friend I’d price up what its going to cost you excepting the frame including any discounts and split the difference?  Does he really want the carbon fork for example … and presumably you do…is there a different saddle/seatpost on 50% discount at the moment?

The point really is you should both gain from this… and it shouldn’t cost you money above a new frame but he shouldn’t be funding it either.  If you price up as if you are billing 2 bikes with possibly different price options then  just work through various options…

In practice I’d think that you’re working towards buying all the parts for the new frame and sticking them on the old frame but then just agree its not worth perhaps doing the headset and replacing a crown race for example?

It’s totally possible that the price is not working but then you are left with selling the frame used but at least neither of you got ripped off.

eBay prices are just random though…

Not really, they have variance but aren’t random.  They would be expected to normally distribute around the market value of the item.

“The point really is you should both gain from this”

Good point. I’ll try this. Work out the cost of building two bikes (less the new frame) and split the difference. Need to allow for the fact that I’ll end up with new components and he is a good mate. Both of us have the same job so equal pay.

The bike shop fitted the mudguards! Much careful bending of supports and apparently some cursing to make them fit…