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Market value for a spada?

Discussion in 'Businesses and Service Providers' at netrider.net.au started by asafweis, May 29, 2008.

  1. recently i was involved in an accident that was not my fault.

    My honda spada has been quoted above $2000 to fix. I have looked up the market value on redbook's web site and it lists the spada at about $2500 market value. It seems like the bike is a write off, but i doubt very much that i'll be able to buy an excellent condition spada for $2500! they're more like $3500.

    Is there anything i can do?
  2. So they have no insurance, and you have no insurance...right? Or did you dodge a possum?

    Without knowing the specifics noone here can help apart from to say most jobs can be done by yourself much cheaper than the bike shop will charge you - if its fixable. However its probably a lot less hassle to save for another cheap bike.

    I didn't know excellent condition spadas existed :p Redbook is garbage btw - ignore it. If you're really strapped for cash don't limit yourself to the spada, just look around for a good value buy that will get you where you are going - chance are you'll want to upgrade soon enough anyway.
  3. It's not garbage, you just have to know what it's saying. Private vs Dealer, warranty etc needs to be taken into consideration. Also short term fluctuations such as immediately before or after introducing LAMS in a particular state may take a bit to be seen in the resale values as gathered by Redbook.
  4. Actually i don't have insurance but the person that hit me is insured with racv. I asked the racv case manager and was told that anything above 75% of market value is considered a write off. I will receive a cheque for market value minus salvage value. with the damage to my bike being the front end i was told by a wrecker that they would pay around 500.

    I just feel so let down i guess. How can someone wreck my bike and then leave me in a position where i can't replace it or have it fixed to what it was without being seriously out of pocket!

    Insurance companies suck.

  5. I've never been into the commercial section of redbook, but in my experience the normal users section is totally fcuked. Granted, I haven't been there in a year, but after many years of using it (and adding a % on to give a realistic figure) I don't bother anymore. I'd love to hear its working properly now...it would be about time.
    Prices were always miles below market values and 9 times out of 10 gave buyers unrealistic expectations.
    I was originally told it was worked out on what people "claimed" they paid for their bikes when they had to pay stamp duty and whatnot (which everyone lies about since they don't like paying more than they have to) - though I'm not sure if that's true it seems like it since all the prices are (at least were) total bullshit.
  6. Fair enough - I have to say that I have used Redbook for cars and I've found it excellent, only looked at the bike section a few times when I was looking for a bike, so perhaps that section is different...
  7. OP, the Spada is a pretty popular 250. If it is a write off and uninsured you have a few options here.
    First is to just get it running and legal again, meaning minimum work to get mechanicals, lighting etc roadworthy again, and then repair as you have cashflow, or score bargain parts off Ebay etc.
    Second is a loan to get bike repaired, but I wouldn't do this (unless it's a famly 0% loan and teh bike would be immaculate afterwards).
    Third is parting out the bike on Ebay etc (can make good money doing this, and as I said, Spada is popular, so market is there).
    Fourth is buying another Spada with damage different to your bike, and putting teh two together.
    Fifth is pursuing someone for damages if it was not your fault(rarely ever worth it).
    If you have no mechanical skills, a couple of those options will involve a steep learning curve, but if you have half a brain, patience and a willingness to have a few goes at something till you get it right, you will save a lot of money.

    Regards, Andrew.
  8. 932.

    Learn some manners & at least introduce yourself when walking
    in off the street asking for assistance.

    You'll find assistance more forthcoming.

    I would've had no problems asking for particulars to help get the
    extra $500-$1000 you need, or at least provide you with directions.

    Easily done 490.

    Oh well. Start saving the 1k n00b.

  9. why do you say i lack manners?
  10. You were supposed to introduce yourself in the "Welcome Lounge/Birthday Greetings" section. Welcome to Netrider.
  11. well firstly it takes a lot to make a spada unridable so as mentioned it wouldnt take a whole lot of coin to have it as a rideable bike

    as to the value , you dont have to accept what the insurance company offers

    grab just bikes mag, get on bike sales , bike point and find similar age and condition bikes and build a case of what your bike is worth to replace

    then you have something to bargain with the insurance company with

    keep yours for the $500, spend a couple of bucks getting it mobile and pocket the change for your upgrade

    a while back a mate up here in syd had his run over and insurance paid $3500
  12. thanks so much for the advice.
    My bike isn't damaged to badly on initial inspection. It's just that it'll take over $2000 to fix which is more than 75% of the redbook market value. But if you say that it's possible to argue the market value with an insurance company then I might have a chance.

    Thanks so much.