Resale vaule of a bike....when to sell?

[IQRaceworks]

OK, I'm trying to run some numbers in my head to figure out when it's time to sell my bike, not loose much money, and get something else.

For instance.....here is an example of what not to do.
I bought my truck 7 years ago for around $16,000 w/ 30,000 miles on it. I probably should have sold it a few years back when it was still worth something and it was paid off. Well I just decided to keep it , now it's got 145,000 miles on it, and it's probabably worth about $3500 if I'm lucky.

So now I'm trying to figure out when is the "smart time" to sell my bike and get something else.

For instance.....my bike is an 03', it's in perfect shape, and it just hit 10,000 miles. So at what point does the resale value of a bike start to plummit like my truck did? KBB says it books for around $6000....so if I keep until next year, it's going to have around 17,000 miles on it. At what point is a bike concidered a "high miles" bike?"

So would I be better off selling the bike this spring to I won't loose much money on it and then try to find a good deal on another bike? At what point does the resale value of bikes start to drop like a rock?

I think I actually might want to buy a bike that's been wrecked and fix it up.....then I may actually make some money on a bike for once.

Thanks

[Unregistered]

I would say spring is a good time to sell when all the newly crowned squids are looking for their first bike.

No offence, your bike is super clean but to me it's high mileage.

[IQRaceworks]

No offence, your bike is super clean but to me it's high mileage.

Yep Brian, I agree. It seems like the majority of the nice bikes out there only have 1000-5000 miles on them. Mine only had 2000 when I got it. I think most people go out and buy a bike, and then just sport it around town on the weekends.

I wouldn't have any problem buying a bike with 20,000 miles on it........buy why would I when I can get one with 2000 miles on it for not much more money.

[gixxert]

to me your bike has low miles. my 03 which i bought in march of 04 new with zero miles on it now has 31,000 miles. its all about how the bike was maintained. brians bike could have 75,000 and i would have no problem buying one from him because he makes sure his stuff is in perfect shape (i am not saying yours isnt ian i am just using brian as a example)

[Justen]

Good luck getting close to 6k for the bike. Sounds to me like Blue Book is way off. My 05 only has 800 miles on it, and I can't get 7k for it.

[blndebmbr]

My question is are you buying a bike to enjoy it or as a collectors piece?

I bought mine to ride. The fun factor I get from all of my machines is priceless. Regardless of when you sell, you will take a hit. My advice is, sell when you have a buyer. Or if you are looking to make money find a different hobby all together.

Here's an example: I have a '93 YZ80 that I don't really need but don't really want to get rid of either...it's all set to race. The right buyer will pay $1800 for it because of the set up. Now the typical buyer won't pay over $900 for it because of it's age. But I have a kid that really wants it and offered me $1250 for it. Do I sell? I haven't but I should because I have a buyer interested and is willing to give me a decent price on an old (but completely rebuilt) race bike. I haven't sold it because I don't want to spend the $2200 on a comparable bike to replace it.

It's all relative...do you need to sell it? Do you like it the way it is? Why resale value? If you want resale value get out of motorsports and look into real estate....depreciation won't kill ya.

[IQRaceworks]

My question is are you buying a bike to enjoy it or as a collectors piece?

The reason I buy "toys" is to enjoy them. Whether it's 4-wheelers, dirtbikes, jetski's, boats, motorcycles, drag cars, ....what ever it is......toys still cost a lot of money, and in order for me to be able to afford "toys", I have to be smart about my money. And to me, being smart about my money is knowing when to give up your "toys" when you've had your fun and you can get a decent return when you sell them. That way I will have money for a different toy.

If I was rich and had tons of money laying around, I would just buy everything I want and keep it for a long time, not worrying about resale value. But since I, like most people, have other things in life that require money, I have to make smart money decisions when it comes to my toys.

[Tiffany]

Ian, I think now is a good time to sell your bike so you can upgrade to a 1000rr ... like *my* 1000rr.

[Unregistered]

Originally posted by Tiffany1000rr
Ian, I think now is a good time to sell your bike so you can upgrade to a 1000rr ... like *my* 1000rr.

Werd

[IQRaceworks]

That thought has jumped into my head several times

[blndebmbr]

Originally posted by IQRaceworks

And to me, being smart about my money is knowing when to give up your "toys" when you've had your fun and you can get a decent return when you sell them. That way I will have money for a different toy.

Valid point! You should talk to my hubby and tell him this....he doesn't listen!!! (Not that we have money laying around) but I can't get him to sell anything!!!

[SpeedyCycles]

Ian,

Bmonnig knows a lot about price points on bikes if you want to PM him. In this area 10,000 miles DOES hurt the resale of a bike, and 17k would make is difficult to get rid of. In states like CA, FL, TX where people ride year round, it is common to see 10k plus miles. Around here, you are going to have to make it up in price reduction for someone to choose to purchase your bike over a 3k-5k mile bike (which most in MO are).

Good Luck,

F

[IQRaceworks]

Thanks for the info Frank

I guess for my next bike I should try to find one with 15,xxx+ miles on it so I can ride the hell out of it and not have to worry about loosing my butt when I sell it.

It stinks that one year of riding will put a bike with 2000 miles into a "high mileage" category with 10,000 miles.

[jordanearl]

It stinks that one year of riding will put a bike with 2000 miles into a "high mileage" category with 10,000 miles

don't you know your not supposed to ride it, jus look at it in the driveway, lol

[SpeedyCycles]

You can ride it, you just have to park it with the "kickstand crew" and talk about how fast you are.

Frank