How to vvalur used bike

[sacentre]

Hi All

I'm a newbie here. Can anyone tell me how one goes about deciding on a reasonable asking price for a used bike? I never sold one before.

 

I have a 1996 Yamaha Vmax with a 2023 COE. I'm not fishing for offers as I haven't decided if I am selling it yet. I just wondered how one establishes a starting point. Who to ask?

 

For example, I wouldn't expect a dealer to offer much if anything, unless I'm trading in for a new bike. Also, not sure if one can ask more depending on the length of the COE. I asked 2 biker buddies about this. One said of course COE makes a difference, the other said it didn't.

 

Just don't know how to find out.

 

Thanks in advance.

[mechwira]

when it comes to selling in the secondhand market, it is only worth how much people willing to offer for it. there is no exact calculation, it is hit and miss.

 

there are two things that can be used as an indicator:

 

just go to 2 or 3 shops and ask for quotes and walk away without committing to anything. that 2 or 3 quotes is about how much a shop willing to pay, which means if you find a private buyer you are likely to be able to get maybe 10% to 25% more than wat the shops offered. after all, the shop will offer you a price that they can make money from when they resell. if all 3 shops offer you low price, it must mean that locally there is weak demand for your bike as secondhand.

 

the second is to actually see on the forum or elsewhere how much your exact bike model was sold recently. obviously this works better for common models like super4; if you can't find any instance of your bike model being sold recently then too bad.

[filtered]

Another method roughly is to work out the annual depreciation, then multiply by the remaining years on the bike.

 

eg. If a 2012 bike when brand new was 30k total, annual depre over 10 years is 3k.

So now 2015, bike has 7 yrs left, so 7 x 3k = 21k

 

This is just a rough guideline, can add or subtract on top of this guide price, depending on condition of bike, ie low mileage, accessories, aftermkt parts etc.

However in general, aftermkt parts and accessories usually add little to no value to the bike, unless you find a buyer willing to pay extra for those.

 

Also compare with what shops are giving, and agar agar you will have a rough estimate.

 

Also some sellers took a loan when they bought the bike, and they also factor in the interest that they have paid when naming their selling price.

Personally I dont factor this in when calculating a price, as why should I be paying for somebody else interest? So I will calculate based on the actual price of the bike when bought brand new with full payment.

 

Essentially its willing buyer, willing seller, so no hard and fast rules, just guidelines.

 

In your case for COE bikes, not really sure how to calculate....all depends on how much the mkt willing to pay =P

[filtered]

Another factor also is the make of bike. Usually the exotics (ducati, bmw, harleys, etc), is about 20-25% depre if sold within first 2 yrs.

Jap bikes i guess hold their value better. Some are over-valued eg Super 4, DRZ, but then mkt dictates

[sacentre]

Thanks for the replies.

[simpleboy]

when it comes to selling in the secondhand market, it is only worth how much people willing to offer for it. there is no exact calculation, it is hit and miss.

 

there are two things that can be used as an indicator:

 

just go to 2 or 3 shops and ask for quotes and walk away without committing to anything. that 2 or 3 quotes is about how much a shop willing to pay, which means if you find a private buyer you are likely to be able to get maybe 10% to 25% more than wat the shops offered. after all, the shop will offer you a price that they can make money from when they resell. if all 3 shops offer you low price, it must mean that locally there is weak demand for your bike as secondhand.

 

the second is to actually see on the forum or elsewhere how much your exact bike model was sold recently. obviously this works better for common models like super4; if you can't find any instance of your bike model being sold recently then too bad.

Not true LA. Krr150 high value but shops also quote v low take in. Some don't even want to take in