Good time to buy or to sell?

Discussion in 'The Perfect Line and Other Riding Myths' started by David Shapiro, Dec 5, 2013.

  1. David Shapiro

    David Shapiro Been here awhile

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    Hi All,
    After surgery that permanently ended my career, I'm finally in the position to buy another bike. I had a brand new BMW K1600GT that I sold after 3 weeks and 0 miles of ownership, when it became clear that it would have been risking quadriplegia to ride. Thankfully, that issue is past. I've been entertaining myself by shopping. I was going to get a Ducati Pikes Peak, but after considering my new bike's mission, to tour, I decided to get another K1600GT.
    I started with Cycletrader, then Ebay, then the local dealers. I've found it amazing what people think what their used bikes are worth. My benchmark has been what a local dealer offerred me as a price for a new, untitled 2013. Going off that, people, and dealers, seem to think that there has been no depreciation.
    That's fine, as the market will set the price, but I'm curious if anybody else has run into this lately, particularly given that it's winter, not spring.

    Thanks,
    David Shapiro
    #1
  2. concours

    concours WFO for 41 years

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    Yeah, you took an ass raping on your "new" bike for sale, and many people live in dreamland when selling. Sucks, I feel for you. Buy a Triumph Trophy just to piss off your dealer. :deal
    #2
  3. David Shapiro

    David Shapiro Been here awhile

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    I lost $3000. It could have been much worse.
    As to the Triumph, I did look at it. Nice looking bike! It's actually bigger in person than the K. I didn't want to buy it the first year in production. At least the K bike has been around 3 or 4 years now.


    David
    #3
  4. bogey78

    bogey78 Been here awhile

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    I shop for bikes much like I shop for cars, houses, etc. I figure out what I want it for and then find a number of different bikes that fit the bill. Some may only tick 4 of 5 boxes so it is usually a compromise. Once I narrow down my choices to a few different bikes, then I go for the best deal and find what I want.

    If you are buying new/nearly new and only give yourself one choice, you get exactly what you want at the price "they" want you to pay. If I had plenty of money, I'd just go buy what I wanted after getting the best OTD price I could get.

    BTW, glad to see that your health has improved and you get to ride again.
    #4
  5. Quarterbore

    Quarterbore Adventurer

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    I agree and there are some seriously good deals if a buyer is patient and knows what they want. I have been looking at Harleys myself and while I don't want to finance the bike which has made me a little short I have seen a couple now that made me tempted to just get the note. I am so tired of debt however I am am going cash only or I don't need to upgrade my Vulcan.

    The internet sure makes it easier to look at a lot of bikes to find what you want but great deals sell quick as others find the deals too!
    #5
  6. David Shapiro

    David Shapiro Been here awhile

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    Very good advice. I'm actually looking at the new Guzzi's as well.
    I'm probably just going to get the K bike. Wish I could get two.
    David
    #6
  7. devo2002

    devo2002 -Devo

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    Finding the right price for the bike you want is pretty easy, all you need is cash on hand, consistent searching, and patience. Most people are on crack when selling their bikes. But if you search over a wide range of areas for the bike you want then you can see what the average price is. This way you know a deal when you see one and can pounce. Be ready and able to pick it up quick and you should have no issue. I avoid ebay altogether, craiglist.

    Infact, I find the best luck at dealers, it makes searching a pain because you need to go to dealer websites but there is always someone who can't sell their bike fast enough and trade it in for pennies to get a new one. It might be marked up a bit but then you can get financing on a used bike and pay it off early anyway, frees up some cash for farkles :deal

    Perfect example is my scram, guy bought it last year new, threw on 4K of goodies and sold it this year for 7kish, I picked it up for 9K out the door from the original dealer. They had put it up on the website that morning and I was the first to call, all mine baby :lol3
    #7
  8. Pantah

    Pantah PJ Fan from Boston

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    if you scroll through the Flea Market forum, you'll find most sellers are dreaming. I think its always been like that, though. I generally buy new and get exactly what I want. Then I keep them a long time. I try and get a decent deal, but the price isn't the main thing.

    I bought a 2 year old Yamaha WR250R in 2010. It was exactly what I wanted and even though I bought it from Flea Market, the bike was located about 2 miles from me. It had 1100 miles on it. The seller just graduated med school and never got around to riding it. I equipped it as BigDog here suggested and I still have it.

    If you know exactly what you want, I think it makes everything a lot easier.

    2 weeks ago I went to a large local Ford dealer to buy a new white F150 XL. I figured I could get out the door around the high 20's for a nicely equipped Supercab with the V6. The sales guy asked if I would be interested in pre-owned. Maybe... Then he showed me the exact truck I wanted, but was a 2011. It has 1900 miles. never anything in the bed. The wheel wells were still white. $21k. Never a second thought. Easy. :deal
    #8
  9. Vulfy

    Vulfy Been here awhile

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    It always amuses me when buyers are acting surprised at sellers entitled attitude, to sell for a "higher" price, while the buyer does not realize that he is acting in the same way, thinking that he/she is for some reason are entitled to a lower price on a bike they want to buy.

    "Depreciation"... LOL

    Tell that to a hipster wanting to get a 70's CB.


    Shop around, wait for a good deal.
    #9
  10. DAKEZ

    DAKEZ Long timer

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    The best time to of year to buy a bike is the time of year that you are in the market to buy a bike.

    If there is a price listed on a pre-owned bike that you don't like then be reasonable and tell them
    a price you do like. If it is doable they will sell it to you. if it isn't they will say "No, we can't do that"
    #10
  11. devo2002

    devo2002 -Devo

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    True, you never know a persons bottom line until you ask, worse they say is no.
    #11
  12. David Shapiro

    David Shapiro Been here awhile

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    Also very good advice. I never take anything personally, it's just business.
    Luckily, cash is king. I'll eventually find what I want at a price I can live with.
    As long as I'm not in a hurry, it will work out just fine.

    David
    #12
  13. Dorito

    Dorito Dreamer and Doer

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    I find that folks often don't have true comparisons. Do both bikes have the exact same equipment packages? Any farkles? If a particular bike interests you, it never hurts to engage the seller in a conversation about the price.

    BTW, it's possible that your dealer is much lower than they paid. You just never know what marketing games were in effect when the bike was originally sold...so maybe they think they are losing $3K...
    #13
  14. bwalsh

    bwalsh UUU, UUU!!!

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    Thing is, most sellers use the "suggested retail" price off KBB to figure a asking price. I've seen it done dozens of times. There are a few obvious flaws in that logic...

    1: They aren't a dealer, which is what that price reflects the seller as being...
    2: The bikes are never in whatever condition the seller says, and the site clearly states what constitutes "whatever" condition the seller is calling it...
    3: Banks and lending institutions use NADA to determine a loan amount, which is almost always lower than KBB. KBB is a wish list for sellers.

    When confronted with that information, sellers usually come up with some sort of BS excuse why they are asking more than what its worth. I can't tell you how many idiots I've had tell me the their car/truck is worth more than what KBB or NADA says because "it has low miles"...or, "its in excellent shape". Uh, they take mileage and condition into consideration when determining prices ya dipstick.
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  15. cliffy109

    cliffy109 Long timer

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    True. Very true. However, if I were to chose a time of year that is better than another, it would be late December. All kinds of things come into play at a dealership at the very end of the year. It is the perfect storm of an outgoing model year, taxes, incentives, nervousness about next week's weather, year-end goals, allocations and the holiday buying/selling mode that just get's everybody fired up to sell.

    Not that good deals can't be found at other times, but if I were to pick the one time when conditions are most likely in the buyer's favor (on a new bike anyway), it would be late December.
    #15