Is bicyclebluebook.com a legitimate resource for determining the value of a used bike? I am shopping for a used tri bike and I want to determine what fair market values are for the bikes I am considering. If not, what is the best way to find out a used bikes value/fair price?
One way is to look on eBay at completed listings and see what they sold for, should give you a ballpark.
One starting point that you should look at no matter what is the new bike price.
For example, say you have your eyes on some used Cervelos.
A brand new P2 with 11-speed 105s goes for $2800 retail, so maybe $2400 realistically.
A brand new P3 with ultegra goes for $3,950 retail, so realistically $3,500 range.
You will see some guy selling a 6 year old cervelo with dura ace for $2500. He says it cost him $9000, so he is selling it at a really good price. And maybe he is, except that is actually more than a brand new P2 with 105s would cost you. Some people here would rather have the 6 year old super bike, but I would take the brand new pretty good bike every time. Buying new usually comes with some kind of fitting, some kind of warranty, and you know the frame is not cracked. Who knows what is up with the 6 year old Cervelo. How much has the frame tech changed in the last 6 years? How easy is it to find 6 year old dura ace parts?
My 3 cents is even when shopping for a used something, understand what the new equivalent cost. Don’t overpay for something used because it USED TO be worth a ton of money, or it USED TO be top of the line. I see people do this all the time.
I disagree with the above statement and recommend buying used. In almost all industries you pay a huge margin just for the product being new. Try selling a used car with 500 miles. Although it was new a week ago, it probably lost 20% of it’s value in that week. People dont pay new prices for used gear, no matter how slightly used. As a result you can get a killer deal on some used goods. I got a bike that was $4500 in 2009 for $1500 this year, and it’s far better than any new $1500 bike out there. Chances are if you compare a good deal on a used item with a good deal on a new item, the used item is going to be superior most of the time even though it’s slightly older.
My rule typically is I never pay more than 65% new price for a used item. So if you bought a P2 last week, and this week it’s on eBay, the most I would pay is 65% of what I can find it new for on the net. Used is used, even if it’s only a day.
Yes 1 day old used bikes are great. Not all used bikes are 1 day old.
Like a used car make sure you know what to check out on a bike before buying used. I bought my used bike from a lbs, and thought they would have informed me of the cracked wheels. So the good deal turned out not so good, but I bear some responsibility.
I should have done more research, and if I had I would have purchased a new 10sp cervelo p2 for little more than twice what my used bike and new replacement wheels cost me.
The flip side is now I know more about wheels, and tires, and tubes, and adjusting the derailleurs.