Buying and reselling bikes on SingaporeBikes

[flyingcow]

It seems there are dealers buying cheap deals off the bikemart page and relisting them immediately with false information.

 

An example of this are the following two listings:

 

http://www.singaporebikes.com/used_bikes/28100/sachs_madass_125/ (sold bike)

 

and

 

http://www.singaporebikes.com/used_bikes/28173/sachs_madass_125/ (relisted bike)

 

You can see from the photos the license plate FBF 2**2 G, which is falsely declared as FBF-****-X in the new listing, and the information is falsified.

 

Clearly the admins are not doing anything about it. But just helping to raise awareness of the presence of these vultures in the marketplace.

 

The suspect mobile numbers (so far):

91938446

90922199

[altya]

Obviously they are here all e time...

 

My fren just sold off his CBF150 for $2.7k...

 

Few days later this http://www.singaporebikes.com/used_bikes/27826/honda_cbf150/ pops up and its my fren bike

 

Selling at $4.5k.....

 

And e buyer claims he has $$ issue so downgrading and stuff, pack of lies...

[flyingcow]

destroying the trust in SBF community... all the dealers posing as individuals and lying about the bikes

[ylloree]

Its good that this has been raised. Thanks

[flyingcow]

now the same madass bike relisted with the number plate blanked out:

 

http://www.singaporebikes.com/used_bikes/28244/sachs_madass_125/

 

can see the contact number and description (from the previous false listing) is the same.

Edited August 11, 2014 by flyingcow

[zalk]

Got one blue Daelim S3 also. First listed for $3000 then sold then BOOM $5800 for the exact same bike.

[T.D.C]

Nothing can be done..

Unless seller wanna verify buyer's occupation before sale? 😕

Or govt restrict shop workers to own bikes themselves..which is impossible.

Hence, this is inevitable.

[goofy]

There was one seller of a 2a scooter that I was interested on gum tree website , talked to him, he says it is his bike but what it is was that he is a dealer that sells outside when there is problem bikes and being private sellers, lemon law don't apply. So when sell cheap, have to be careful coz sometimes it is shops clearing rubbish.

[jacktan23]

dealers are here to make money..and they always prey on sellers who are in a hurry to sell off their bikes..we just have to do our due diligence.

[Genius]

Yea. 91938446. This seller doesnt even want to reply me.

[mechwira]

Talking only about buying someone's bike cheap with sole intention of immediately reselling for profit, I dun see a problem. It is perfectly legal. If you're the seller, u have no right feeling p1ssed that your buyer made money by finding a buyer paying more for what you got. You had complete freedom in deciding your price, you cannot blame anyone for your underestimation of your bike's value. Once the deal is properly made, you have no say in what the buyer does with your bike.

 

Dealers selling lemons pretending to be desperate sellers is a seperate issue.

[Genius]

Talking only about buying someone's bike cheap with sole intention of immediately reselling for profit, I dun see a problem. It is perfectly legal. If you're the seller, u have no right feeling p1ssed that your buyer made money by finding a buyer paying more for what you got. You had complete freedom in deciding your price, you cannot blame anyone for your underestimation of your bike's value. Once the deal is properly made, you have no say in what the buyer does with your bike.

 

Dealers selling lemons pretending to be desperate sellers is a seperate issue.

 

Yea. agreed. Only way is try to sell your bike at a higher price.

[Siphon]

Hmmm... showing your proof of employment might be a good way to deter dealers i think i'll do that next time i sell my bike nice tip! hahaa

[Heng77]

1. Was the original seller happy to sell?

2. Was the new buyer happy to buy?

 

I don't understand what's your problem?

[mechwira]

1. Was the original seller happy to sell?

2. Was the new buyer happy to buy?

 

I don't understand what's your problem?

 

yeah i have it even simpler:

 

1) Did both buyer and seller agree on the same price?

2) Did seller take buyer's money?

 

and then yes i oso dun understand the problem. buyer re-sell immediately for profit, or buyer turned out to be dealer in disguise, got what issue? didn't seller get the money he asked for? even if buyer bargained down further the selling price, seller still agreed and took the money right?

[calebike]

willing buyer, willing seller. don't waste our time please.

[xliams]

I know how you all feel guys. But nothing illegal what these dealers have done. Legal move from business perspective.

[200sx]

Very long nvr reply but recently I am looking for bikes (downgrade from cars). It is true that there is no legal complications here about reselling. I have seen overseas ppl do the same thing.(DMX channel Mike Brewer "Trading Up").

 

The problem here is, why ppl price their COE bikes so expensively after paying for a low COE? Some advertisers even says its cheaper then buying new.

 

Take for example:

bike renewed in 2011 at SGD2k. After 4 years 2015, decided to sell the bike, so price it at 4k. Yes its cheaper than buying new because new cost 8k. Yes half priced! Ppl who know how to calculate its new bike: 8K/10years = 800per year.

The COE bike is 4k/6years = 670per year? where got cheap ah??? Some more COE bike basically its cost is the left over COE paper?

 

My question to the buyers here is, why dont buyers do their calculations properly? Why you like to get tricked by the marketing gimmicks posted in the buy sell. If there is a demand sure there will be supply and ppl will sell high due to COE. The problem buyer always missed is once your bought it, you lost half the money because no one will buy at that price you bought it from.

 

Next time try asking the shop how much you take in such bike. That is the price you could sell if you dont need the bike anymore. The rest of the money you pay is all gone.

Edited May 6, 2015 by 200sx

[mechwira]

why ppl price their COE bikes so expensively after paying for a low COE?

 

if people willing to pay high price for wat i selling then of course i sell at high price. thats wat is called free market. if the technical value of my bike is $2k yet people willing to buy at $4-5k, why should i be obliged to still ask for $2k?

 

and the fact is precisely because new bikes cost so much due to COE and yen, dats why i can price my bike higher than actual and still get buyer. when you sell HDB flat you mean to say can only sell at valuation price? HDB tried that once, total failure.

 

why dont buyers do their calculations properly? Why you like to get tricked by the marketing gimmicks posted in the buy sell.

 

1) I agree buyer should be smart enough to calculate properly.

 

2) but don't forget, a 'smart' buyer calculate the value of the bike to be $2k and tell the seller "i will not pay you more than $2k, you asking price of $4k is nonsense!". along comes another buyer "Wah! Only $4k! Cheaper than brand new! OK, deal! I buy from you!" the fact remains that as buyer no matter how smart you are, ultimately the bike and any secondhand item is worth as much as what people are willing to pay for it. you have every right to insist on 2k and walk away, but you have no right criticizing the seller for the price he set.

[200sx]

I am hoping if we could educate them enough, most buyers know how to calculate the risks and cost, then most will walk away from the high price and the price will go down.

 

Precisely there are ppl who think the price is right thats y we need to educate them. If not our bike market will be like car market sky high.

 

Flat is an appreciating commodity while bike or car is not.

[kzone]

I am hoping if we could educate them enough, most buyers know how to calculate the risks and cost, then most will walk away from the high price and the price will go down.

 

Precisely there are ppl who think the price is right thats y we need to educate them. If not our bike market will be like car market sky high.

 

Flat is an appreciating commodity while bike or car is not.

 

actually i find its you that needs educating. the value of the 2nd hand bike is not just what was paid for it by the 1st owner. But also the price of alternatives such as new bike. Same like housing, gold n everything else. If the price of the new product goes up, the resale value of used products go up as well.

[200sx]

No offence Kzone, its ppl who cannot differentiate between commodities thats y ppl tot bikes/cars are the same as gold, silver, HDB, etc. Its not like that overseas. I mentioned COE bikes not new bikes. Those bikes have no value to say except for paper COE value or sentimental value.

[kzone]

No offence Kzone, its ppl who cannot differentiate between commodities thats y ppl tot bikes/cars are the same as gold, silver, HDB, etc. Its not like that overseas. I mentioned COE bikes not new bikes. Those bikes have no value to say except for paper COE value or sentimental value.

 

no worries, no offence take. hope its mutual as forum is a good platform to give different thoughts/arguments

 

bikes are not commodity but they are material wealth so it has value too.why do u feel that COE bikes has no value? 10 year old harley, goldwing, STX, hayabusa all definitely has value! and if u want to compare overseas, 10 yr old bikes even kupchai also has value.

 

In SG there is COE, which plays a major part in the value of different bikes as valued by the local community.

[200sx]

I knew you will mention rare and collectible bikes. Those are special haha. for normal 2b bike, I feel there are nothing special about them. To me they are just basic transportation.

 

These are causing the 2nd hand normal bikes to sky rocket. I pity those ppl who need to buy an inflated bike now. I remember in 2006 to 2010, the bikes are freaking cheap. 2nd hand bikes can go as low as 400$ per year.

[kzone]

I knew you will mention rare and collectible bikes. Those are special haha. for normal 2b bike, I feel there are nothing special about them. To me they are just basic transportation.

 

These are causing the 2nd hand normal bikes to sky rocket. I pity those ppl who need to buy an inflated bike now. I remember in 2006 to 2010, the bikes are freaking cheap. 2nd hand bikes can go as low as 400$ per year.

 

its the same.. its just the comparable value to COE that's making the 2b bikes less desirable to extend coe but it still has value for those who can only afford 2b bikes. Yes, I also pity them and they will also pity us when we buy at even higher prices tomorrow...

 

i think where we differ in opinion is that you look at the original purchase price/ historical price where as I look at the options available for a current buyer. And the way market works is the latter