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  1. #1
    mtbr member
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    Why do people buy a top of the line bike and sell it later for a fraction?

    It amazes me how many people buy an expensive top of the line bike and park them in garage never to be ridden. A year or two later we see on Craig’s List, “Owned for 1 year, ridden once, tire shows a scuff mark, Paid $2,000, will sell for $500 obo”… and so on. Go figure?

    A few weeks a go I picked up a 1985/86 Ritchey Ascent in NOS condition for a total steal of a price from the original owner. The owner ordered it in 85 and waited a year for it to be built. They rode it a few times and parked it. You really do not want to know how much I paid! I asked how much and the next thing I said was sold and this was after several people walked away from what they thought was too much.

    I know we can't talk about prices, but it was under $500. The bike is in almost the same state that I bought it in.

    Still looking for a 1983 Diamond Back Ridge Runner. -Help!
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    Last edited by ibike4fun; 04-15-2006 at 12:27 AM.
    Banana slugs are too cool for words!

    Looking for a 19 or 20-inch black Diamond Back Ridge Runner

  2. #2
    fsp
    fsp is offline
    obey!
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    Because bikes are only worth what someone will pay, and in the case of 20 year old ones, that's typically not very much. The bikes we know & love have very little in common with what makes a desirable, hot-selling bike in todays market, and most people in bike shops can convince someone pretty easily that their old bike is 20 years obsolete and worthless. Most bikes that old are beat to snot, and are indeed only worth anything at all on sentimental grounds. This lowers the percieved value across the board. Even most hardcore vintage collectors won't pay a ton for this stuff in any condition, because they know they don't have to. It's only a matter of time before a good deal pops up again. Occasionally, we're wrong about that though, like the $1200 Cunningham that went unsold twice in a row a few years back. Oops.

    We're a small minority of people, those of us that find value in old bicycles.

  3. #3
    RIDE
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    That's a beautiful Ritchey

    We called most of these people 'Posers'. Mountain biking was considered a fad back then and it was cool to have one,just like a mullet.Most bikes end up collecting dust but that's good for us who really enjoy the bikes.
    BTW,can people get their money back if they don't like a bike? Maybe that's why that bike is collecting dust in the garage.
    'Faster and faster until the thrill of speed overcomes the fear of death'
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    Joe R.

  4. #4
    He be a moose too.
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    I understand why people buy a $400 bike and ride it a few times, hey they tried it out and lost interest, but you would think that someone with a $2k bike would know what they were getting into. Maybe not.

    There was an expensive bike that was brought into my LBS. All it needed was a flat fixed. I wondered how someone with a high-end bike couldn't fix a flat. Turns out it was the bike, barely used, of the local tycoon's son. They weren't just somewhat rich, rather 9 figure rich. He had one of his employees bring it in. The bike didn't have a scratch and was stored in a large garage next to a scad of sports cars that didn't see a lot of use, but I'm told did look good.

    That bike may still be sitting there covered in dust, but in pristine condition, in a garage off Canal St.

    Penguin

  5. #5
    Neg reppers r my biatches
    Reputation: FoShizzle's Avatar
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    Quote Originally Posted by ibike4fun
    It amazes me how many people buy an expensive top of the line bike and park them in garage never to be ridden.
    while for me it is a bit different, i ride them, but not for long at times.

    the answer for me is that I am (1) pathetic, (2) always thinking about the next project cause I get so much joy from putting bikes together, and (3) MTBing and toying with them is perhaps my sole passion that gets me through life. Tt buffers me from my reality of having a lot of responsibility whereas with buying and selling bikes, i get to feel like an immature, irresponsible little kid.

    cheers

  6. #6
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    You can talk prices all you want. The only time it's an issue is when a poster is trying to sell what they have.

    In your case, you just scored a fine vintage ride, it's up to you if you want to tell us just how good you scored!

    As far as spending large amounts of money on bikes only to sell them at a fraction of the original price later after little use...
    Some people have so much money, that it doesn't bare weight on their lifestyle if they drop $2000-7000 on a bike. They have money, buy the best.
    I'm thankful for people like that. It's allowed me to come along a decade later and reap the benifits.

    The best example I can think of...is just about every Ibis Ti BowTi I've seen. Low seat, riser stem, high riser bars, barends sticking straight up, street slicks.

    At any rate, congrats on the new vintage ride. Submit it to oldmountainbikes.com!
    -eric-

    http://www.rumpfy.com
    Wanted: NDS Suntour XC Pro Microdrive 175mm Crank Arm.

  7. #7
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    Quote Originally Posted by fsp
    Because bikes are only worth what someone will pay, and in the case of 20 year old ones, that's typically not very much. The bikes we know & love have very little in common with what makes a desirable, hot-selling bike in todays market, and most people in bike shops can convince someone pretty easily that their old bike is 20 years obsolete and worthless. Most bikes that old are beat to snot, and are indeed only worth anything at all on sentimental grounds. This lowers the percieved value across the board. Even most hardcore vintage collectors won't pay a ton for this stuff in any condition, because they know they don't have to. It's only a matter of time before a good deal pops up again. Occasionally, we're wrong about that though, like the $1200 Cunningham that went unsold twice in a row a few years back. Oops.

    We're a small minority of people, those of us that find value in old bicycles.
    A $1200 Cunningham? How'd we miss that??

  8. #8
    slow
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    Not vintage, but a good example of hardly ridden and sold for way below cost:

    http://cgi.ebay.com/ws/eBayISAPI.dll...MEWA%3AIT&rd=1

  9. #9
    Start slow and taper off
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    Quote Originally Posted by Rumpfy
    The best example I can think of...is just about every Ibis Ti BowTi I've seen. Low seat, riser stem, high riser bars, barends sticking straight up, street slicks.
    At one shop I worked at, we had a regular with a Bow Ti, that got RIDDEN!. When I left the shop in '02, every part save the frame was current '02 parts--and it wouldn't surprise me that if today it had current and high end '06 parts (he said he was going to ride that frame till it broke). And this guy rode 4-5 days a week, off road only. An anomaly, to be sure.

    As a side note, he bartered services for the frame with the owner (basically setting up the stores networking/computer cash registers/etc), so he didn't shell out any cash,only time.
    My Artwork

    Hard words break no bones, fine words butter no parsnips.

  10. #10
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    Quote Originally Posted by sgltrak
    Not vintage, but a good example of hardly ridden and sold for way below cost:

    http://cgi.ebay.com/ws/eBayISAPI.dll...MEWA%3AIT&rd=1


    THAT! That right there is what I'm talking about.
    The Moots version of the Ibis BowTi's...

    Call me a snob but...good lord.

    -eric-

    http://www.rumpfy.com
    Wanted: NDS Suntour XC Pro Microdrive 175mm Crank Arm.

  11. #11
    Nouveau Retrogrouch SuperModerator
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    tscheesy started a similar thread on General:
    For sale: 6 mo. old bike worth $X,XXX.XX, ridden 4 times.... (why?)
    mtbtires.com
    The trouble with common sense is it is no longer common

  12. #12
    Start slow and taper off
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    Quote Originally Posted by Rumpfy
    THAT! That right there is what I'm talking about.
    The Moots version of the Ibis BowTi's...

    Call me a snob but...good lord.
    Thats called a salesman doin' his job!

    I always worked in service, and the sales guys would come and tell us about the 4 to 8 thousand dollar bike they just sold. Then the frame would come in, and I'd have a list of parts just like on that Moots to put on it....I'd say, "what are you kidding me?" and the sales guys would laugh and say "hey, he didn't seem to want to close his wallet, so I sold him everything I possibly could!" They'd also usually leave with a full wardrobe with a different outfit for each day of the week...
    My Artwork

    Hard words break no bones, fine words butter no parsnips.

  13. #13
    Village Dirtbag
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    Wow! That Moots is one fugly high-end bike. Why would someone by such an exotic bike and make a cruiser out of it?

  14. #14
    desert dweller
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    We had a local drug dealer that bought a custom mtb and decked it out with downhill gear and other blingy stuff. I can't remember what frame he used though. It was a sight to see -- a nice XC frame with a downhill wheelset, fork and numerous other "upgrades". The guys at the shop laughed and said he never even goes off the walking paths at the park, but he always payed full retail in cash. Not many druggies out on the real mtb trails. I was always hopefull that he would locked up while his bike was at the shop and I could score some of the parts for nothing.

    I guess it like buying an H2 and blinging it out with 20" chrome spinners!

    mbb

  15. #15
    Suddenly feeling my age..
    Reputation: Arran's Avatar
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    Why did you have to post that pic???!!! Now I have to clean the chunks of spew out of my keyboard... *Gag*

    Wanted:

    Marzocchi Star Fork
    Nishiki Aliens

  16. #16
    bonked
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    It is called conspicuous consumption and we saw it a lot at the shop. We had a customer who bought a Ti Fat and had Fat paint it red then decked it out with red everything. Painted to match Judy, every red component from the Ringle catalog, red cranks of some sort, red Sun rims, red spoke nipple, etc. It was a ton of money for a bike back around 95 I think. Anyway, we would not send a bike out the door without test riding it to make sure everything worked and was adjusted. Well, on the test ride the chain slapped and put a tiny nick in the chain stay. The customer was PISSED. We had to send the frame back for a repaint. No kidding. You see, this guy, a surgeon I think, never intended to ride the thing. It was art to him. A year later his taste changed, so he had the frame and fork repainted green and changed out EVERY component to match. And still he never road it. Or if he did it was carefully no more than a mile or two.
    Quote Originally Posted by banks
    That is one big f'n dude!
    Yes I am!

  17. #17
    slow
    Reputation: sgltrak's Avatar
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    Quote Originally Posted by Rumpfy

    Notice what gear the bike is in.

  18. #18
    bonked
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    Yeah, nice crossover. Looking at the bar, stem and barend combo what else would you expect? It looks like it is set up for somebody's grandpa.
    Quote Originally Posted by banks
    That is one big f'n dude!
    Yes I am!

  19. #19
    aka Jesse Palmer
    Reputation: jp3d's Avatar
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    Quote Originally Posted by IF52
    Yeah, nice crossover. Looking at the bar, stem and barend combo what else would you expect? It looks like it is set up for somebody's grandpa.
    75 year old uncle actually, **** when i'm 75 i'll totally be rocking something like that

  20. #20
    VRC Illuminati
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    Quote Originally Posted by Arran
    Why did you have to post that pic???!!! Now I have to clean the chunks of spew out of my keyboard... *Gag*
    lol!

    I know, it's bad.
    -eric-

    http://www.rumpfy.com
    Wanted: NDS Suntour XC Pro Microdrive 175mm Crank Arm.

  21. #21
    RIDE
    Reputation: Built4Speed's Avatar
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    No good What the hell?

    Quote Originally Posted by Arran
    Why did you have to post that pic???!!! Now I have to clean the chunks of spew out of my keyboard... *Gag*

    That's just sooooooooooooo wrong!
    'Faster and faster until the thrill of speed overcomes the fear of death'
    http://fotki.com/vintagemtbr/

    Joe R.

  22. #22
    RIDE
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    If he wanted comfort,he should've bought a couch.

    Quote Originally Posted by Rumpfy
    THAT! That right there is what I'm talking about.
    The Moots version of the Ibis BowTi's...

    Call me a snob but...good lord.

    Would've been cheaper.
    'Faster and faster until the thrill of speed overcomes the fear of death'
    http://fotki.com/vintagemtbr/

    Joe R.

  23. #23
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    Please stop including that ugly Moots until someone takes those hideous bars and seat off. It is down right irritating to look at.
    Banana slugs are too cool for words!

    Looking for a 19 or 20-inch black Diamond Back Ridge Runner

  24. #24
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    The shop where I worked sold that bike, actually they sold the man a pair of them. He was a Baker from the Baker Hughes oil family so he was very wealthy. He was in his mid 60's and wanted to use the bikes on his ranch for himself and his wife. Shortly after he picked them up he died in a private plane crash. His wife called the shop as she found both bikes in the garage and didn't know anything about them, other than a couple of rides around the block on test runs the bikes are virtually un ridden.

  25. #25
    slow
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    Deja Vu

    Here is the "hers" from the matching "his and hers" set:
    http://cgi.ebay.com/ws/eBayISAPI.dll...tem=7250974131

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