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REDBOOK....does anyone use it?

Discussion in 'General Motorcycling Discussion' started by Owen, Aug 27, 2005.

  1. Has anyone rang up enquiring about a bike on private sale and after finding out about the bike told them that REDBOOK quotes half sometimes a third of what theyre asking for? I have, people either tell me to get stuffed or just say there is no way they are going that low.

    Now redbook is simply a pile of statistice gathered from sales on a national scale so how can it be so.....inaccurate? Does ANYONE actually try and stick to redbook prices, and is it still a good deal if im paying double what redbook quotes just because i can afford it?

    Sorry if this seems more like a winge than an actual question, just trying to find my best way of negotiating prices.

  2. the concept of redbook is as a guide, and a pretty average one at that imo. with a used vehicle they have so many variables they increase/decrease their value, cosmetics, km's, service history, state of tyres, type of tyres, does it need new sprockets/chain? the list goes on. i can see why the seller would be annoyed if you dropped in the redbook comment.

    negotiate on other points specific to the vehicle you're looking at. :)
  3. But redbook is BASED on actual sales, an average of that model for that year. If someone is 2k over that...tell em theyre dreamin'.

    Sure there are other variables that need to be taken into account, but that would really only account for a couple hundred dollars here and there, not thousands.
  4. Simple answer. Any bikes worth what a buyer is prepared to pay for it. You can make any offer you like but the seller also has the right to tell you to get stuffed. The variables can add up to thousands, depending on what sort of bike it is, accessories, condition, colour, mileage, state (250 worth more in Vic due to restrictions), etc.

    If you don't like the price, no-one's forcing you to buy the bike. What do you care if it stays on the market for years? Just buy the bike you want at the price you want to pay. If you can't get one for the price Redbook tells you then clearly Redbook is wrong and the bikes worth more.
  5. how do they get these sales figures? if it's from the declared value when people fill out transfer forms and then give them to vicroads then they're going to be a lot under their realistic price, since people almost always declare a lower value to avoid stamp duty fees :wink:
  6. I believe that the Redbook figures are compiled from stats gathered from Dealers. You couldn't do that with private sales for the reasons you have quoted above, but you can with dealers' sales.

    Since dealers' prices tend to be higher than private sales prices, I guess that makes the redbook figures artificially high as well..

    Works for me, anyway.
  7. didnt know reebok made bike apparel any good?
  8. Its not compiled from dealers. And redbook prices are very low not high.
    I just dont see why redbook can be so accurate for cars and not for bikes. So how does anyone come up with prices if no one follows redbook? I think its silly to just pay 'x' amount of dollars for a bike simply because you can afford it, not because that is what it is worth.

    For example, a new gpx costs around 5500-5990, yet the going price for a 96 model is around 5000! 9 years old and only lost 1000 in value, seems hard to believe.

    Anyways, im gonna stop the post there, was just wondering if anyone used redbook, no use trying to fight the system i guess. Thanks for the opinions people.
  9. ](*,) damn i just realised it says redbook not reebok think i'll go back oo sleep now :oops:
  10. hmmmm I don't trust redbook explicitly but as a guide it's pretty useful. Like most things, it's dependant on the quality of the data entered. Having 'No info available' on every second search doesn't help.
  11. i dunno. i paid the lower end of the redbook price range when i bought my bike. wasnt in top condition but was by no means the worst example. i reckon the high prices have a huge amount to do with the 250 restrictions. the sellers know some sucker is gonna buy it so they tell you to buzz off. its usually a fairly good indicator IMO. of course if the bike has new rubber, sprockets chain, cosmetically fine etc you're probably gonna see the owner asking for alot more than the top redbook price.
  12. Code:
    Q. How does RedBook arrive at the vehicle prices it quotes?
    A. RedBook's price guides are derived from extensive research which encompasses obtaining details of sales through auction houses and motor dealers all around Australia, from vehicle manufacturers, from monitoring the classified advertising in every major publication in Australia and from actual field research. This vast volume of data is reviewed by RedBook's expert pricing panel and adjustments made. Each month RedBook changes around 30,000 prices in its database of over 50,000 vehicles.
    Question for you ... in looking at the classifieds, dealers etc. is the market rate for bikes that you are looking at the same, or close to, what redbook says it is? Or is redbook grossly under valueing what the market rate is?
  13. Redbook is vastly undervalueing the price of some bikes. Namely the GPX which i am unting everywhere for. Early '90 model seems to be going for arround 3200-3300, redbook quotes 1200-1600. For $3000 redbook claims you can get a '02 model when the market is around $5000 or so.
  14. perhaps the information is collated on a national basis, where some states have LAMS in place and therefore 250cc rides prices aren’t artificially inflated, but here in Vic the prices are much higher. that would make sense.
  15. For anyone in the market for a bike, now or in the near future, this would seem to be a valuable bit of research being done by Owen. We need to know if these fluctuations are uniform across the country, and also, just for curiosity, if this variation is reflected in CAR prices as well. Redbook has always been regarded as the Bible of prices; if it is or has become unreliable, buyers need to know.
  16. Redbook's 250 prices tend to reflect the prices that are being paid in states without 250 restrictions... if you live in a state that has them then there is an artificially induced pressure that raises prices due to restricted supply.

    I'm sure that the prices for GPX250's listed are easily achievable in NSW... I know BTH has bought several of them for prices at or below those that $1600 level.

    That would be just about impossible in Victoria I suspect...
  17. The idea of Redbook for me at least is to use it against the dealer when I go looking for another bike. They use it against you when you go to trade in so use it against them when you go to buy
  18. ive found redbook to vary quite widely, prices they list must be considered in context
  19. heads I win, tails you lose???
  20. Interesting ... since freight on a bike from NSW<->VIC is about $100, why don't most VIC 250 buyers (commercial or private) buy them in NSW and freight them down? Maybe the commercial/dealers do and are making some tidy profit? Someone in NSW could make some nice $$ for themselves by becoming a "buyers advocate" and doing inspections of NSW bikes on VIC buyers behaves and advising and helping arrange pickup and freight back down to VIC.