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Red Book v the Market

Discussion in 'General Motorcycling Discussion' started by mjt57, Jun 13, 2010.

  1. I'm getting the urge to get another bike (but one that's tempered by SWMBO's tight fiscal policy). Out of curiosity I looked up Suzuki SV1000S models on Bikesales.

    I was somewhat surprised by the asking prices for them.

    So, I looked up what Redbook, the bike evaluation guide had to say.

    Some of the bikes on offer are in the ballpark, others, "tell 'im 'e's dreamin'" type of asking prices.

    Still, the asking price and guide for say, a 2003 model seems fairly high.

    I know that RB is only a guide and some suggest a very rough one at that. Even so, one fellow's asking $11,000 for an '03 model, while some '07 models are closer to $10k than they are to $9k.

    And it's a fairly basic bike, too.

    I've found far better deals for the competing model, the Honda VTR1000F.

  2. Ridiculous importation procedures + small market = unconscionably high prices when they're new.

    Emotion and bitterness = unconscionably high prices when used. People will pay more for a "cool" bike, and people won't sell their expensive bike for small amounts.

    Redbook… well, I dunno where those numbers come from. They don't seem to represent reality all that well.
  3. So what is your question there mjt57, very vague.
    Are we discussing which prices are the better value to go on, redbook or market price, and which one should be the correct price, or which preference of type of bike you should be buying??....
  4. Redbook is statisical data, the prices quoted are a national average for that model.. some geographical market pockets vary very differently to what RB says.. but it is still a very good guide imo.
  5. Doesn't the Red Book get its prices from what people submit when they buy a second hand bike?

    I forget what it's called but I've never heard of anyone one putting down the actual price they bought their second hand bike for. They usually knock off a grand or so to save on paying the transfer tax or what ever it's called.

    If that makes sense.
  6. No question, just a comment on the used bike market, prices, Redbook and some of the ridiculous prices that people ask for their used bikes.
  7. It amazes me as well. A quick search on bikesales turns up two 2009 GSXR600's for 12500 and 12800 while multiple dealers are advertising new ones for 12490. It seems like people don't even check new prices.
  8. Or that they're just greedy (and delusional).

    Whenever I sell a bike invariably I get those who are expecting it to have really low kays, otherwise they think that it's stuffed. So, they insult me with a low offer.

    And I'm not talking about small bikes. I am talking litre plus bikes which have been regularly serviced, never thrashed (and you don't last long in this life thrashing big bikes).

    But these same people would ask top dollar for their used PoSes.
  9. i've heard redbook is only a guide as to what you could expect to get by selling to a dealer (ie trade-in) and the RRP of a model when it was new (those bits are obvious), which doesn't answer why there is a private sale price listed on the site. unless of course that is indicative of claimed value for stamp duty as suggested.
    as i've said in another thread regarding prices of used bikes, i've recently seen a 16yr old bike advertised for $1500 less than the new value (a 16% saving, when bikes depreciate something like 12% as soon as you walk out the dealer's door)

    IMO using redbook as a guide to prices will only work in the buyers favour when the seller is a numpty. sadly though most people (particularly when upgrading to non-restricted bikes) are vastly delusional regarding asking prices of bikes they threw down the black-top. '05 R6 for $3500 or '95 zzr sewing machine for 3k? i know who'd be getting my money there