need help valuing a totaled bike (before it was totaled)

Nov 4, 17 18:54

Post #1 of 15 (2286 views)

I had a Giant OCR 1 with Shimano 105 components that I bought back in ~2001. I think list at the time was +/- $1200 and I got a deal on an end-of-year closeout for about $900. I hadn't been riding lately, so I let a friend borrow it a few months ago for an extended time so he could try it and see if he liked riding before committing to buying a bike of his own. Long story short, he ended up driving over it and destroying it. He offered to give me what I paid for it, which is obviously more than I could sell it for now, but I also wasn't planning on selling it and I certainly couldn't buy a comparable bike for that much anymore (please tell me if I'm wrong on that, but the little bit of research that I've done doesn't look promising). It was in good shape before getting run over and the seat, chain, sprockets, and chainrings didn't have all that many miles on them. So I have two questions:

1) How much would that bike be worth currently if I were to voluntarily sell it?
b) What would you ask for in this scenario?

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woo - jackmott

Re: need help valuing a totaled bike (before it was totaled) [johnny law] [ In reply to ]

Nov 4, 17 19:21

Post #2 of 15 (2254 views)

Bicycle Blue Book values an excellent example of the OCR-1 at an uninspiring $166.

Re: need help valuing a totaled bike (before it was totaled) [Testament TN] [ In reply to ]

Nov 4, 17 19:26

Post #3 of 15 (2245 views)

Testament TN wrote:

Bicycle Blue Book values an excellent example of the OCR-1 at an uninspiring $166.

Yikes. That's way, way lower than even my worst expectations. But like I said, I wasn't planning on buying a new bike, but now if I want one I'm going to be out of pocket.

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fork DOWN
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woo - jackmott

Re: need help valuing a totaled bike (before it was totaled) [johnny law] [ In reply to ]

Nov 4, 17 19:30

Post #4 of 15 (2237 views)

johnny law wrote:

1) How much would that bike be worth currently if I were to voluntarily sell it?

Bicycle Blue Book says $162 to $166 if the bike was in "excellent condition". The unfortunate truth is that even road cycling and road bikes have undergone a tremendous advancement over the last sixteen years and your old bike had none of that. I ride a 2005 or 2006 Trek 2100ZR and it's more or less in the same boat (except for having a 10 speed cassette). Larger tires don't fit, no internal cable routing, shifters have the cables coming out the side... all that stuff is just a lot nicer on even low end bikes that you can buy today.

johnny law wrote:

b) What would you ask for in this scenario?

Well, you're not going to replace the bike... but the Giant Contend SL1 Disc is (I think) a pretty good value in a comparable price range. Actually if you take into account inflation, this is cheaper than what you paid for that OCR1. I'd ask your friend to cover the BBB cost and use it as an excuse to get a new bike and be out riding again. Just don't let others ride your new bike.

Less is more.

Re: need help valuing a totaled bike (before it was totaled) [johnny law] [ In reply to ]

Nov 4, 17 19:43

Post #5 of 15 (2210 views)

[quotminie johnny law]

Testament TN wrote:

Bicycle Blue Book values an excellent example of the OCR-1 at an uninspiring $166.

Yikes. That's way, way lower than even my worst expectations. But like I said, I wasn't planning on buying a new bike, but now if I want one I'm going to be out of pocket.[/quote]
That is a stupid low figure. I would ignore that amount. I'd take what you paid for it, or $750

Or, let your buddy build a Bike by sourcing parts.

You could try and get one off ebay

Re: need help valuing a totaled bike (before it was totaled) [littlefoot] [ In reply to ]

Nov 4, 17 19:59

Post #6 of 15 (2191 views)

littlefoot wrote:

That is a stupid low figure. I would ignore that amount. I'd take what you paid for it, or $750

Or, let your buddy build a Bike by sourcing parts.

You could try and get one off ebay

This eBay example didn't sell at $400... Having a "classic" bike that is in good condition sucks in some ways, especially when you have other bikes to ride. They take up space but you can't sell them for anything near what they are worth.

if my "buddy" was ignorant or inattentive enough to run over a bike I would not let them source parts nor build a bike...

Less is more.

Re: need help valuing a totaled bike (before it was totaled) [littlefoot] [ In reply to ]

Nov 5, 17 4:06

Post #7 of 15 (2079 views)

littlefoot wrote:

That is a stupid low figure. I would ignore that amount. I'd take what you paid for it, or $750

I bought this guy earlier this year for $600 Canadian. Alu/carbon, 2009, 10sp, mostly 105, but Ultegra derailleur, niceish wheels for a bike from that era (i.e. better than the Shimano W500 garbage you usually got).

No way that a bike almost 10 years older than that gets you more money. $166 may be low, but $500 would be high in my estimation. So $300-$400 maybe, depending on condition.

Now, 80s-early 90s bikes may make you more than that these days, but for the same reason that a 12 year old Civic is worth nothing and a '59 Thunderbird is worth a lot.

Citizen of the world, former drunkard. Resident Traumatic Brain Injury advocate.

Re: need help valuing a totaled bike (before it was totaled) [johnny law] [ In reply to ]

Nov 5, 17 6:01

Post #8 of 15 (2020 views)

How about keep an eye on the local classifieds and when something similar pops up have him buy it for you. Some of my local bike shops have used bike sales and consignment days, maybe yours do too.

I was pretty disappointed to see my 08 giant tcr was only worth less than $300 but now that I have upgraded I will just keep it as a spare/trainer bike.

Last edited by: Anachronism: Nov 5, 17 6:08

Re: need help valuing a totaled bike (before it was totaled) [johnny law] [ In reply to ]

Nov 5, 17 6:09

Post #9 of 15 (2009 views)

I looked under completed listings on Ebay and they seem to be selling for about $350

Not sure if this link works for you:

https://www.ebay.com/...plete=1&_fosrp=1

Re: need help valuing a totaled bike (before it was totaled) [johnny law] [ In reply to ]

Nov 5, 17 6:09

Post #10 of 15 (2008 views)

Is the entire bike totaled, or is it just the frame/fork that were crushed? Maybe he can just replace what was actually damaged ( It would be easy and cheap to source a used f/f and wheelset on ebay, craigslist, etc.). Unless he drives a monster truck and the entire bike was crushed into carbon dust...

Re: need help valuing a totaled bike (before it was totaled) [johnny law] [ In reply to ]

Nov 5, 17 7:22

Post #11 of 15 (1963 views)

I would ask him to pay you what you paid for it, or to buy you a comparable new bike. It's not just the value of the thing itself that he destroyed, it's also the value of it to you, which in this case is far greater than the value of the thing. You had a working bike that you liked, and by breaking it he took that away. Therefore IMO he owes you at least another working bike, it's not about the cash value.

Re: need help valuing a totaled bike (before it was totaled) [imswimmer328] [ In reply to ]

Nov 5, 17 7:39

Post #12 of 15 (1950 views)

bet you guys saying this would change your tune if situation was reversed on YOU. No way something that old is worth what it was new. Thats just life.

Re: need help valuing a totaled bike (before it was totaled) [johnny law] [ In reply to ]

Nov 5, 17 16:17

Post #13 of 15 (1860 views)

johnny law wrote:

I had a Giant OCR 1 with Shimano 105 components that I bought back in ~2001. I think list at the time was +/- $1200 and I got a deal on an end-of-year closeout for about $900. I hadn't been riding lately, so I let a friend borrow it a few months ago for an extended time so he could try it and see if he liked riding before committing to buying a bike of his own. Long story short, he ended up driving over it and destroying it. He offered to give me what I paid for it, which is obviously more than I could sell it for now, but I also wasn't planning on selling it and I certainly couldn't buy a comparable bike for that much anymore (please tell me if I'm wrong on that, but the little bit of research that I've done doesn't look promising). It was in good shape before getting run over and the seat, chain, sprockets, and chainrings didn't have all that many miles on them. So I have two questions:

1) How much would that bike be worth currently if I were to voluntarily sell it?
b) What would you ask for in this scenario?

Couple hundred bucks at most.

An OCR 1 with 105 was an entry level road bike with entry level components. Now 16 years old. It isn't worth much.

Ask youself how much you could get from selling a 2001 Honda Civic in decent condition. MSRP for those was 10-15k. Probably worth 1-3k now. If a friend borrowed the car and crashed it would you ask him to pay more than blue book? If so, I wouldn't want to be your friend.

Re: need help valuing a totaled bike (before it was totaled) [johnny law] [ In reply to ]

Nov 5, 17 18:15

Post #14 of 15 (1781 views)

Instead of taking the money, I'd find something used in your area/ebay and have him pay for it. You get a bike. He knows he's paying the right amount and you're not ripping him off (not that you would!)

Re: need help valuing a totaled bike (before it was totaled) [Durhamskier] [ In reply to ]

Nov 5, 17 18:48

Post #15 of 15 (1756 views)

Durhamskier wrote:

Instead of taking the money, I'd find something used in your area/ebay and have him pay for it. You get a bike. He knows he's paying the right amount and you're not ripping him off (not that you would!)

Yeah this.

TBH something that old is virtually worthless/unsellable. You can get new carbon/105 road bikes in Australia for under US$900. Bikes that are 2 - 3 years old can go for as cheap as $300, so something that is 16 years old is just going to sit there in the classifieds. So yeah get him to pay $200 towards a 2nd hand bike, maybe you chuck in bit to get some nicer wheels?

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