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Redbook values vs private sale values

Discussion in 'Bike Reviews, Questions and Suggestions' started by DClayman, May 22, 2007.

  1. Hi everyone,

    I've got a question regarding the redbook average prices for secondhand bikes. The prices asked by private sellers seem to be by and large much higher than the average price quoted by redbook. Is the site innaccurate, or should I be much more aggressive in my haggling?

    For example. I recently checked out a 2000 Suzuki VL250, with over 50k on the clock, evidence of being dropped at least twice, rust on the bars, dodgy battery, shot chain and sprockets, and a worrysome sound coming out of the clutch area, yet the asking price was 3500, some 500 more than the redbook value. And I'm seeing any number of mid 90s viragos going for more than this.
    Any thoughts/suggestions?
  2. Red book is basicaly an average of vehicals sold (of that type/year) in all conditions (pristine with $$$$$ worth of extras to a real POS) and IMHO is only of limited value especialy when buying/selling privatly.

    Of much more use IMHO are things like www.tradingpost.com.au and http://www.bikepoint.com.au
  3. I have bought & sold a few bikes privately. People generally quote higher prices on the ad in the likihood that some haggling might be expected.
    If you are after a certain bike, go see a few that are advertised & then reflect on those what a ‘good’ price is to be expected.
    Some people have no idea & other feel that the 2nd hand bike market is where you realise a return on an ‘investment’. It’s not. 2nd hand is 2nd hand, buying a bike privately that is ‘like new’ is not the same as straight from a bike shop.
    But best not to get aggressive with any sellers. 10minutes into seeing/hearing the bike should give you a good idea if you should pursue it.
    Sometimes it’s better to spend an extra few dollars than buying the lowest priced bike out there – some riders have a unique interpretation of maintenance.
    I like bikes which come with roadworthy certificates (Victoria: required to transfer the rego).
  4. Haggle them down to the range quoted by Redbook... if they won't haggle that far then walk away... _unless_ the bike is rare or difficult to obtain.

    You'll always find something similar later and 9 times out of 10 at a better price. The key is to be patient and not jump at the first thing you see.
  5. Or that they're simply greedy.

    Redbook and Glass's Guide are only indicators, supposedly based upon data supplied by the industry with regards to vehicle sales.

    As for the two "books", for cars at least, the prices for a particular model can vary by thousands. At least, it did for when I was selling a Commodore SS last year.

    For anyone buying a bike privately, buy the bike trader mags, check out bikesales and bikepoint websites and see what the market is averaging for your target bike.

    In the end, what dicates the price is what buyers are willing to pay for them, not Redbook or Glass's Guide.

    This guy looking at the dodgy 250 should walk away. There are plenty of 250s out there, particularly in those markets where there's a LAMS in place. And here in Vic, you'll soon see a flood of 250s when LAMS is introduced.