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-   -   Sluggish Used Bike Market? (http://www.motorcycle.com/forum/help/1991-sluggish-used-bike-market.html)

rwoo56 07-19-2003 07:38 PM

Re: Sluggish Used Bike Market?
 
I have 3 bikes listed for sale on various boards. I think you hit the nail on the head: Bad economy = buyer's market, great financing on new bikes and finally, bikes are generally for recreation, not a necessity. Have you looked at the unemployment rate??

detansinn 07-20-2003 02:37 AM

Re: Sluggish Used Bike Market?
 
A few years ago, I had a similar experience selling my Hawk GT. I posted an ad on Cycle Trader and within a couple of days I had a few dozen calls. This was in the time before the SV650 and Hawk demand was still very high. The bike sold within a week.



Recently, I had decided on reducing the number of bikes in the garage. I posted both my Ducati and Cagiva up for sale. It took more than a month to get a real response on the Ducati. I received emails from prospective "buyers" that were BELOW WHOLESALE blue book. Many of them didn't merit a response.



The Ducati sold after about a month and a half. A buyer showed up at my place with cash and we did the deal.



The Cagiva was a different animal. I received alot of offers BELOW WHOLESALE. It was almost as if the bike attracted bargain hunters and deadbeats. Most frequently, I was dealing with folks who wanted my bike using other bikes for sale on eBay as a price reference. On two occassions, I had to explain the concept of "RESERVE NOT MET" .



I was a weary seller. More weary after dealing with THREE NO SHOWS. "I'll be there with CASH and a trailer to pick it up this weekend". Sure, sure you will. After sitting in the driveway detailing my bike for a few hours, I decided to abandon selling the bike. It's a great machine and I get far more value from riding it around than I would giving the bike away.



Obviously, your mileage will vary -- especially if you're selling a Japanese sportbike. You might also want to consider that you're at the end of the riding season in some markets. (SHUTUP YOU FOLKS IN CA, LUCKY BASTARDS)



BTW: Watch out for the SCAM artists trying to buy your bike outside the country. ZX6E demand is quite soft in Liberia.

pplassm 07-20-2003 03:00 AM

Location, location, location...
 
I've moved around the country quite a bit, and found buying/selling habits to be quite different from place to place.



For instance, the above poster with the $2600 1990 CBR1000F would have no problem selling it at that price in my present location (Richmond, VA) as liter bikes sell for a premium around here.



There are factors that others have already touched on, like the almost-new/new decision a buyer makes.



Your previous sale of a VX800 is an interesting comparion. That bike was fairly limited in production, and has a semi-fanatical base of followers (almost like the old Honda Hawk). It was no surprise to me that it sold quickly.



Your ZX-6E, however, despite outperforming the VX800 in all performance regimes, is pretty dang ubiquitous, Kawasaki having produced it, unchanged, for several years now. American riding habits being what they are, a buyer could expect to buy an older bike with very low mileage, for a substantial discount over yours, with a mere year number to differentiate.



I generally deal at the lower end of the pond, and I can tell you that buyers' appetites for decent running bikes in the $1500 remains strong.



BTW, it ain't the economy. Haven't you heard the news? The recession ended 2 years ago!

Nyuk, nyuk,nyuk!


charuhas 07-20-2003 03:50 AM

Do your homework, MO
 
I'm surprised that MO would quote Kelly Blue Book prices, since most dealers use NADA and consider KBB numbers useless happy-talk. And, you all quoted wholesale trade in value, not retail. KBB retail is $5940.



NADA average retail for a 2002 Kawi ZX-6E is $5190. I'm asking $4999.

HighsideHarry 07-20-2003 03:51 AM

Re: Sluggish Used Bike Market?
 
I was pretty much bowled over when, out of curiosity, I checked out the price on my 2002 R1 at kbb.com a few days ago. I mean, we're looking at a 3k drop from retail, and that's after I'd knocked the dealer down almost a grand at the outset!

Surprisingly, you don't see that many literbikes here in San Francisco (my theories go on for days!) which rules out saturation, but I do believe that the manufacturer's "Wait To You See What We Have For You Next Year!" has a lot to do with it. I mean, who wants to lay out over 10k for the latest-and-greatest, only to find out that Sport Rider is telling you that a V-6 is in the works with some manufacturers?

Guess I shoulda stuck with my old 250 Duc I had laying around the garage. Slow as hell, but at least it didn't depreciate!

sarnali 07-20-2003 04:02 AM

Re: Sluggish Used Bike Market?
 
You're priced too high. If you are anywhere near retail it's not going to happen. If you want to sell you have to be at least $500~$1000 below everyone else.

What you want to look at is trade-in value not retail to determine a price. Pricing high then putting OBO doesn't do any good because buyers are going to try and bargain anyway, if your over priced from the start they will see you as unreasonable and won't bother

Also unless someone has to have an '02 ZX6E they'll see if the dealers have any other 600's left over for near the same price and buy whatever is on the floor. The only way a private party is going to out sell a dealer, is to have a rare hard to find bike or offer a substantial savings to make up for the added hassle of doing all the paperwork themselves and having to deal with finding your house and setting up a time, only to find out the "'02 GSXCBRRR IN EXCELLENT SHAPE" is actually beat to death, slid down the road and spray canned, never had an oil change, no service ever done, etc,,etc,,

I'm not saying thats the case with yours, but it does happen. Before a dealer takes a used bike in in trade he's going to have his mechanic check it over pretty good. That gives buyers a little more peace of mind buying through a dealer. The only way you can beat that is to undersell them.

Buzglyd 07-20-2003 04:26 AM

It's interest rates
 
Used auto sales are in the tank right now too. It's not the economy. New bike sales are still pretty strong. It's just that if you can buy a new car or bike with special financing (0% interest, no payments, etc.), why would you purchase a used bike where financing is more difficult to get and interest rates are higher.



Used bike financing is about 12% interest at my credit union. It's a buyers market if you've got cash though.



Maybe it's time for that used R1.........

dmcelvain 07-20-2003 05:15 AM

Re: Sluggish Used Bike Market?
 
Selling a used sport bike is tough. There are so many bikes out there that have been crashed (damage varies), have a huge bald strip down the middle of the rear tire. (stoplight racer boy) have been modified (and how many know what they're doing when they whip out the wrenches?) Plus, as has been mentioned, cutting edge bikes have the shelf life of unrefrigerated lunch meat.

I bought a '98 YZF600R in 2000. It was December, and the seller was in VT. I watched it on cycle trader as it languished. A huge snowstorm rolled through New England and I e-mailed the guy the next day. I pitched a lowball offer and he took it. I had the bike shipped to my place and I rode it for 2+ years. I put 15K mi. on it., but kept it completely stock and clean. I gave it a *really* good detail job and put it in the paper @ KBB price 2 mos. ago. It was sold for full price (cash) in 5 days. I rode it for 2 years and ended up *making* $200 on the deal. The buyer commented that she'd looked at lots of bikes, but mine was the only uncrashed /unmodified bike she'd found and was willing to pay for it.

Look at your bike from the buyer's point of view, using this guide:

http://www.clarity.net/~adam/buying-bike.html

Then be patient!



Good Luck!

detansinn 07-20-2003 05:29 AM

Re: Do your homework, MO
 
"useless happy-talk" aside. You're going to have a tough time selling a used ZX-6E at that price point. NADA, KBB, whatever, it doesn't matter unless someone pays that much for it.



Think about what other bikes folks can pick up at the price; especially with the glut of leftover models and new models being discounted. I think the number that MO provided is much closer to the "true market value" for your motorcycle.






southwindphoto 07-20-2003 11:02 AM

Re: Sluggish Used Bike Market?
 
Regardless used bikes, cars or boats for that matter manufactures are stimulating their economy with fantastic financing offers. The problem is it makes the used market fall like a rockÂ…



With interest rates at an all time low, do not expect the used market to turn around anytime soon. It is a buyers market and anyone looking to by used is price shopping.



So like many of the others have said, lower you price to a few dollars less than trade in and place another ad in your local or nearest larger city paper.



PS



Purchased a new 2003 Heritage soft tail early this year and sold my old Harley in one week for a fair priceÂ… about $2,000 under KBB





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