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How To Calculate The Right Price Of A 2nd Hand Bike?

Discussion in 'Bike Reviews, Questions and Suggestions' at netrider.net.au started by gs250rr, Oct 30, 2012.

  1. hello folks,

    I am a new forum member and finding all the previous posts really useful.
    Considering purchase of a CBR250 to go on L's but do not understand how the bikes are priced?
    So I am keen to know your comments on the question below -

    Premise -
    * I got in touch with a dealer and found out that the ORC of brand new 2012 CBR250 bike (Tri-colour) is $5,700.
    * In contrast I looked up some 2nd hand CBR250's and found a few (2010/2011) models with barely 3000km available for sale at a price tag of $5000 or more.

    Some Comparison Notes (just showing off my knowledge gained from this forum - so pls correct me if I am wrong) -

    1) A brand new bike has 0kms and it comes with a warranty (2 yrs I think). A 2010/2011 model with 3000kms means that its warranty is all/almost over.

    2) Major service is due for the 2nd hand bike sooner in comparison... I think major service can cost considerable amount.

    3) Purchase of 2010 model would require some assumptions about the look-after of the bike by the previous owner - since for someone like me, if it looks good then it must be good.. irrespective of most of the members here who would probably look under the hood/engine once.

    4) I understand that the new CBR250 (since its ORC price) - will have full 12 months rego + CTP etc. whereas the 2010/2011 models I saw had about an avg of 6 months remaining.

    I think assuming that all else is in A1 condition with the 2010/2011 bike (don't think much can go wrong within hardly 3,000kms anyways) then considering the reasons above I cannot justify the purchase of a 2nd hand CBR250 at $5,000+

    Question -
    I think the question that begs this forums attention is, how should one go about calculating a fair price of a 2nd hand bike in a private sale?

    Any suggestions would be really appreciated in regards to, what do you think should be right price for a CBR250 (2010/2011) with less than 5,000 kms assuming that all is A1?



    Thanks in advance!
    GS
     
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  2. Have you looked at what the bike is worth on Redbook? And how odes it compare to other second hand bikes of similar age and kms?
     
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  3. No I didn't check the Redbook value yet but generally the bikes have asking price of $5,000+.. so looks like over a 2 yr period the bike has only depreciated $700 - given that the brand new one is for $5,700
     
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  4. Calculating a fair price is easy. Just work out what you're willing to pay, and how likely it is that someone else is going to be willing to pay more.

    I've never trusted Redbook when it comes to bikes. It fails to take into account things like regional differences (ie LAMs bikes cost a lot more in WA or remote areas), and often lists older bikes at ridiculously low values (ie I've seen bikes listed as being worth less than $1k and yet have never seen one for sale under $3-4k).
     
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  5. The case study above is based on prices in NSW
     
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  6. Just checked Redbook for CBR250 - 2011 (Non-ABS) and below is what I found-


    Private Prices $4,000 - $4,800


    Trade In Prices $2,700 - $3,200


    The private price of $4,000 seems quite right to me though.
     
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  7. 'What the market will bare'. Look it up, everything is priced using it.
     
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  8. even with only 3000k get it checked by a mechanic. there's a reason it's being sold and it might be they fell off it. or they haven't looked after the chain etc.
    seems to be a bit of a buyers market at the moment so bargain away.
     
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  9. thanks twistngo - any clue about how much does a mechanic generally charge for this? and is this a standard thing?
    GS
     
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  10. not sure. there's a guy in Melb that does it for around $100 if he doesn't have to travel too far. he gives a written report. ring around and see who does them locally for you.
     
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  11. buy a old cbr(early 90's)...sure it'll be clapped out from being thrashed but atleast it'll have balls unlike the new ones....destroyed 2 of those new cbr's off the lights on my old shitty zzr 250.....but don't take my word for it - im not a fan of the single cylinder bikes so i'm obviously biased and you by all means might not be after speed etc.



    as for judging a second hand bikes price? find the cheapest best condition looking bike...test ride it...if your happy with it's condition...fcukING HAGGLE....HAGGLE HAGGLE HAGGLE....
     
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  12. thanks 87crisis but even CBR250's from 1990's is also going around $4,000-$5,000 mark.. I can't see why I would want to pay $4,000 or so for a 20 yr old machine as compared to a brand new one... my view is the newer bikes would be more safe in terms of breaks etc..
    cheers
    GS
     
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  13. The sellers of the second hand ones probably paid $6.5k+ and don't realise a new one can be had for $5.7k
    If you find a second hand one you want, just tell them how much you're willing to pay given the price of a new model and negotiate.

    On a 1-2year old I'd expect 20% depreciation on cost or comparative new.
    I wouldn't spend $5k on a 250 though. Go for a 1990's 250 for $2k.
     
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  14. That's the CBR250RR, not CBR250R.
     
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  15. if its only a grand betweeen a new and secondhand one.....buy new. you get to run it in properly then.

    above all, if you get second hand one RIDE IT. if it doesnt feel right, walk away, at any price.
     
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  16. They are completely different machines. The 1990's CBR250RR is a 33kw 4 cylinder performance bike. The 2011/12 CBR250R is a 17kw, single cylinder learner bike with a fancy fairing.

    Personally I'd rather spend 4k on a good condition cbr250rr then 5.7k for a new cbr250.
     
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