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How accurate is Redbook (and the like) for bike prices?

Discussion in 'General Motorcycling Discussion' at netrider.net.au started by John.R, Sep 4, 2011.

  1. Hi guys,

    I'm currently searching for my next bike (thanks to ACT's generous licencing scheme that knocked 2 years off my restrictions) and I'm starting to lose my mind researching/hunting bikes.

    I've had my ear to the ground for approx. 3 weeks now, and can't really make sense of the prices. They vary soo much, i.e I've seen great condition low k bikes for for $2k less then higher k, earlier model bikes (no mods)

    The models I'm interested in specifically are:

    06-07 GSX-R 600
    05-06 CBR 600 RR
    and
    05-06 Ninja 636 (ZX-6R)


    In this economy, how much power does a buyer have? Are people having a hard time offloading bikes or is demand still strong?
    Are the deals I've seen go just anomaly's? I tend not to think so because it hasn't been 1 or two, I've seen quite a few good deals happen (09 GSX-R 600 with 5,000kms for $8500 with a dented pipe was one I saw the other day)

    Does it just depend on the seller (financial situation, wanting a quick sale so drops the price, or is that the market price and all the bikes that are priced higher, will take much longer to sell, which seems to happen)

    And finally, how accurate are the Redbook (private sale) figures?



    Reason I ask is that I've unfortunately become attached to a bike but cannot justify to myself paying top dollar for it when there are plenty of other bikes in similar condition + newer, for less. Even though the price is right within the Redbook valuation.



    Cheers
     
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  2. I'd say redbook prices are going to be less than advertised because most people put down a couple of K less than what they paid to avoid paying extra motor vehicle duty fees.

    Other than that there are a lot of variations totake into consideration like the sellers financial situation, how many of the same bikes are out for sale, kms, condition, mods etc.

    Go to bikesales pick a bike open up a spread sheet and find the mean price vs kms and that should give you a rough idea of what you're likely to pay.
     
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  3. Redbook is inconsistent

    With regards to advertised prices, there's a lot of dreamers out there. Only the cheapest couple of bikes of the model you are looking at will sell on a weekend.

    Just sort by price, work out how many ks you are comfortable with and work you way up from there.
     
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  4. Redbook is just a guide. What you also need to take into consideration is the amout of k's and general condition of the bike. This will alter the value dramatically.
     
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  5. Funny when you see the same 'premium' priced bikes appear for sale month after month after month...
     
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  6. Redbook has such a large spread and when you consider it doesn't differentiate between vehicles that are essentially a write off and those that are immaculate with a complete service history etc its hard to refer to as any more than just a basic starting point.

    There is no substitute for doing your own research and only you can decide what compromises you are prepared to make and that will ultimately determine what is good value to you.

    As to the sellers perspective there can be a great deal of difference in their circumstances and if they are in a more remote area they may not have received much interest - truth is I have travelled 1000's of k's to look at a bike but many don't have the time or aren't prepared to go through the expense just to see something that may be what they're after.
     
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  7. I reccon 883 sportsters have got to be the worst.
     
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  8. Anniversary models crack me up. Worth what you paid for it 10 years ago? Pah, slim chance.
     
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  9. Cheers guys.

    Guess it's just a matter of sorting the realistic sellers from the dreamers.
    I HATE low balling people but when you are consistently seeing newer model bikes with less K's advertised for $500-1000 less, it is disappointing ruling out potential bikes because they won't come to the party.

    It's harder being in ACT too, as a lot of the good deals/bikes are gone by the time I organise a weekend up in Syd.
     
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  10. The best guide would be bikesales - then remember that something is only worth as much as someone else is willing to pay for it.
     
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