Caution buying used bikes

[teambhp]

How abt bikes which can be considered 'classics' or 'collectors item', since no longer in production?

 

For example bikes below? How would you value them?

 

http://www.singaporebikes.com/used_bikes/35357/ducati_sportclassic_sport_1000/

 

http://www.singaporebikes.com/used_bikes/34924/ducati_sportclassic_gt1000/

I am not expert in this area. Therefore I will leave it to someone more knowledgeable to comment

[kzone]

btw, I have a FW plate phantom TA200. COE expiring June 2018 (non renewable). original egistration date June 2003. What's a fair price to let go now?

[200sx]

Hi Kzone bro, if ppl are nice enough since COE increased, I think its fair to say we use the current COE price multiply by the left over years plus about 200$ for your TA200 body. $2100 is a fair price. if not since its not renewable, ppl use the paper value of your COE which will be about 1000+200 body? 1.2k will be the price shop is going to take it in.

[di_andrei]

I'm confused, why do you assume the value of the bike is zero upon COE expiry? Are all the listed bikes renewed with 5 year COE only? Even with no COE left, some bikes are still quite valuable. Yes, there are good and bad deals out there, but generally speaking people buy used because it's cheaper. 9 times out of 10 buying used will result in lower depreciation per year compared to buying new. Should I make a new thread cautioning people against wasting money to buy new, and listing all the good deals?

[rogngts]

Cos bike will need to be scrapped.. No COE no bike or you buy new from shop and do not register it.. keep at home and polish.

I'm confused, why do you assume the value of the bike is zero upon COE expiry? Are all the listed bikes renewed with 5 year COE only? Even with no COE left, some bikes are still quite valuable. Yes, there are good and bad deals out there, but generally speaking people buy used because it's cheaper. 9 times out of 10 buying used will result in lower depreciation per year compared to buying new. Should I make a new thread cautioning people against wasting money to buy new, and listing all the good deals?

[teambhp]

I'm confused, why do you assume the value of the bike is zero upon COE expiry? Are all the listed bikes renewed with 5 year COE only? Even with no COE left, some bikes are still quite valuable. Yes, there are good and bad deals out there, but generally speaking people buy used because it's cheaper. 9 times out of 10 buying used will result in lower depreciation per year compared to buying new. Should I make a new thread cautioning people against wasting money to buy new, and listing all the good deals?

Of course it's zero value upon coe expiry. Unlike cars,bikes have no part value

[teambhp]

btw, I have a FW plate phantom TA200. COE expiring June 2018 (non renewable). original egistration date June 2003. What's a fair price to let go now?

Bro..u set the price. Buyers then decide whether to buy your bike. It's not right for anyone to dictate a price for you

[mechwira]

Of course it's zero value upon coe expiry. Unlike cars,bikes have no part value

 

this can't be right.

 

how can ten year old bike with COE about to expire, but with buyer having option of renewing COE, be worthless in the secondhand market?

 

granted the seller has to be realistic with his pricing, but zero value? nobody willing to buy?

 

show me a 2005 R1 for sale where i can just take and pay COE to LTA. i may be interested.

[teambhp]

this can't be right.

 

how can ten year old bike with COE about to expire, but with buyer having option of renewing COE, be worthless in the secondhand market?

 

granted the seller has to be realistic with his pricing, but zero value? nobody willing to buy?

 

show me a 2005 R1 for sale where i can just take and pay COE to LTA. i may be interested.

You should not be surprised that bikes with coe to expire are useless in the markets.why? Reason is because coe is at 6.5k now n the possibility of it going even higher is there. Is it worth to renew coe for an old bike? Of course not. Please dun get started saying previous owners has maintained it well etc.old bikes are old bikes n wear n tear area can never escape one.

 

However if coe is about 2k plus, these useless bikes suddenly become valuable n buyers dun mind buying to renew. The savings they get from renewing coe at a low price can be used to repair the bikes.

 

Bike shops also hesitate to take in such useless bikes.what if coe hits 9k? It makes no business sense to renew n sell cos the number of buyers will be limited.

[mechwira]

You should not be surprised that bikes with coe to expire are useless in the markets.why? Reason is because coe is at 6.5k now n the possibility of it going even higher is there. Is it worth to renew coe for an old bike? Of course not. Please dun get started saying previous owners has maintained it well etc.old bikes are old bikes n wear n tear area can never escape one.

 

However if coe is about 2k plus, these useless bikes suddenly become valuable n buyers dun mind buying to renew. The savings they get from renewing coe at a low price can be used to repair the bikes.

 

Bike shops also hesitate to take in such useless bikes.what if coe hits 9k? It makes no business sense to renew n sell cos the number of buyers will be limited.

 

i agree.

 

but thats because in this post you finally pointed out that a bike's resale value is tied to demand. there is currently low demand for ten year old renewable bike because current coe is high. if coe drops significantly as you say, then demand does go up and the bike does have value even though coe is expiring.

 

you have previously only used the bike's parf value to determine its price, saying that an expiring coe bike has no value because it has no parf.

 

and my point is the bike's secondhand price is parf + demand. not just parf. and demand you cannot easily calculate by some formula.

[teambhp]

i agree.

 

but thats because in this post you finally pointed out that a bike's resale value is tied to demand. there is currently low demand for ten year old renewable bike because current coe is high. if coe drops significantly as you say, then demand does go up and the bike does have value even though coe is expiring.

 

you have previously only used the bike's parf value to determine its price, saying that an expiring coe bike has no value because it has no parf.

 

and my point is the bike's secondhand price is parf + demand. not just parf. and demand you cannot easily calculate by some formula.

Sad to say, coe unlikely to go down. Those people with bikes that are about to expire most likely will scrap. So demand for these bikes will continue to be low. There is a guy with a Busa expiring in Dec 2005 n he is asking for 7500.will he be able to sell? Maybe yes,maybe no.

[teambhp]

Bike has little PARF value. I merely take the selling price divide by the number of years left to give you guys the depreciation figure per year. Worth to buy? It's your money, so you guys decide.

[calebike]

Of course it's zero value upon coe expiry. Unlike cars,bikes have no part value

 

Bike has little PARF value. I merely take the selling price divide by the number of years left to give you guys the depreciation figure per year. Worth to buy? It's your money, so you guys decide.

 

so does a bike have little or no parf value?

[calebike]

You should not be surprised that bikes with coe to expire are useless in the markets.why? Reason is because coe is at 6.5k now n the possibility of it going even higher is there. Is it worth to renew coe for an old bike? Of course not. Please dun get started saying previous owners has maintained it well etc.old bikes are old bikes n wear n tear area can never escape one.

 

However if coe is about 2k plus, these useless bikes suddenly become valuable n buyers dun mind buying to renew. The savings they get from renewing coe at a low price can be used to repair the bikes.

 

Bike shops also hesitate to take in such useless bikes.what if coe hits 9k? It makes no business sense to renew n sell cos the number of buyers will be limited.

 

your argument holds true for the cheaper bikes. because it is no longer worth to renew the COE. can the same be said for the majority of your class 2 bikes? lets not get carried away and apply this to the 20yo bikes (incoming 3rd COE). Worth is a relative, is it worth to pay 6.5k to renew a 5k wave? is it worth to pay 6.5k to renew 30k beemer?

 

your point about old bikes being old bikes. and wear and tear being unavoidable. so regardless of the condition of the old bike, you advocate non-renewal of COE as it is a waste of money? when COE hits 9k, it makes no business sense to renew and sell certain makes and models. the bike market will closely emulate the car market. continentals everywhere. german automakers taking the top sales spots.

[teambhp]

The new bike market will mostly be from Bmw, ducati,Harley riders

[di_andrei]

Of course it's zero value upon coe expiry. Unlike cars,bikes have no part value

 

Absolute nonsense, please **** off.

[di_andrei]

Cos bike will need to be scrapped.. No COE no bike or you buy new from shop and do not register it.. keep at home and polish.

 

Or you can renew COE? As long as COE can be renewed and the bike runs, the value is not zero, and could in fact be quite a lot depending on the bike of course.

[di_andrei]

this can't be right.

 

how can ten year old bike with COE about to expire, but with buyer having option of renewing COE, be worthless in the secondhand market?

 

granted the seller has to be realistic with his pricing, but zero value? nobody willing to buy?

 

show me a 2005 R1 for sale where i can just take and pay COE to LTA. i may be interested.

 

Exactly. Do you see many free bikes around? If the value of all bikes with expiring COE was zero then there should be many free bikes. I would also like to add my name to the interest list when tembhp starts giving away free bikes with expiring COE.

[teambhp]

Or you can renew COE? As long as COE can be renewed and the bike runs, the value is not zero, and could in fact be quite a lot depending on the bike of course.

Yes, if one renew the coe, then the bike will have paper value. Anything above that depends on how much the seller n buyer wanna deal

[kzone]

Exactly. Do you see many free bikes around? If the value of all bikes with expiring COE was zero then there should be many free bikes. I would also like to add my name to the interest list when tembhp starts giving away free bikes with expiring COE.

 

Q behind me! k, seriously, not free bikes lar... But I am expecting lesser demand for 9+ year old bikes as COE rises cos its now more ex to renew COE and lesser people willing to pay to 6+K in cash to renew COE. So this in theory should reduce demand. On the flip side, because COE is so high, current owners will try to ride their bikes till the last day before moving on to new bikes... but I'm still curious what will happen to these mid range bikes when the 10yrs is up. Are ppl renewing or simply scrap the bikes?

[kzone]

Bro..u set the price. Buyers then decide whether to buy your bike. It's not right for anyone to dictate a price for you

 

actually I already plan to ask 10k for my bike so wanna check wats the sentiment out there... but first need to find a bike to buy before I sell mine..

[teambhp]

Q behind me! k, seriously, not free bikes lar... But I am expecting lesser demand for 9+ year old bikes as COE rises cos its now more ex to renew COE and lesser people willing to pay to 6+K in cash to renew COE. So this in theory should reduce demand. On the flip side, because COE is so high, current owners will try to ride their bikes till the last day before moving on to new bikes... but I'm still curious what will happen to these mid range bikes when the 10yrs is up. Are ppl renewing or simply scrap the bikes?

Agree with you.as for your last question, the answer could be current owner will try to sell them at a profit

[matthias76]

Teambhp is providing a simple evaluation of bike values in this thread. And some of his views are harsh but pragmatic. It doesn't matter how much you (seller) think your bike is worth, cos as long as you do not renew your COE at the 10 year mark, your bike is as good as scrap metal. The best you can recover cost is to dismantle and sell off your parts (if they are as what you claimed, well maintained yadah yadah...)

 

There are exceptions to this rule of course. Classics and Class 2 bikes which have otherwise intrinsic value tied to the bike itself instead of the COE. There could be a reason as to why the seller is not renewing the COE (when its about 2- 3 months left) for myriad of reasons. But given the intrinsic value of such bikes, I doubt the seller would allow it to be scrapped when the COE time is up.

 

As for those 10/20 years bike with renewed COE asking for sky-high prices on the machine, this is definitely human nature and a cost-replacement model. I doubt that there are many kind-hearted souls around to float other people boats by selling their 2nd-hand bike at a cheap price without factoring their own cost for getting a new bike. Even if there are such kind souls around, there are plenty of "prata-flippers" who will suck these deals up and screw up the 2nd-hand market in a flash.

 

Lastly, please keep the civility in this thread. We can agree to disagree. No one is perfect here, and collective wisdom (acquired in civil discussion) beats self-assumed omniscience EVERY TIME.

[filtered]

If we dont renew COE and de-register the bike, can we still keep it or must scrap?

 

Maybe park in living room as decoration, or keep as track bike =D

[matthias76]

If we dont renew COE and de-register the bike, can we still keep it or must scrap?

 

Maybe park in living room as decoration, or keep as track bike =D

 

FROM LTA Webby

 

Driving/using/allowing usage of a de-registered vehicle

 

It is an offence to drive, use or keep a de-registered vehicle. A de-registered vehicle must be towed or transported if it needs to be transferred from one location to another. Infringing offenders will be prosecuted in Court, and face a maximum Court fine of $2,000 or 3 months' imprisonment.

 

A de-registered vehicle is also likely to be uninsured. It is a serious offence for anyone to use or permit the use of a vehicle without a valid motor insurance cover. The penalty is a fine of up to $2,000 or imprisonment of up to 3 months or both, and a mandatory disqualification from holding a driving licence for at least 12 months, upon conviction in court.

Failing to submit disposal documents of a de-registered vehicle

 

Offenders who fail to submit disposal documents as proof that the vehicle has been scrapped or exported within a month of the cancellation of its registration may be prosecuted in Court, and face a maximum Court fine of $2,000 or 3 months' imprisonment. Similarly, first time offenders who are found keeping a de-registered vehicle may be prosecuted in Court, and face a maximum Court fine of $2,000 or 3 months' imprisonment.