What's my bike worth?

Discussion in 'Road Cycling' started by Ethan, Feb 26, 2006.

  1. Ethan

    Ethan Guest

    I have a 10spd KHS GranSport bike purchased new in 1988 for about $180.
    I've hardly ridden it at all in the 12 years since I graduated college. It
    needs new tires. The pedal mechanism is wobbly. The brakes need to be
    adjusted, if not replaced, as they rub on one side. Back tire needs a
    couple spokes. It needs a chain, as the one I had broke. The shifting
    levers give too much resistance, and I'm not sure all 10 speeds are
    available.

    Does this bike have any value as it is? If so, I'll sell it on the local
    Craigslist. If not, I guess Goodwill will get it.
     
    Tags:


  2. Sorni

    Sorni Guest

    Ethan wrote:
    > I have a 10spd KHS GranSport bike purchased new in 1988 for about
    > $180. I've hardly ridden it at all in the 12 years since I graduated
    > college. It needs new tires. The pedal mechanism is wobbly. The
    > brakes need to be adjusted, if not replaced, as they rub on one side.
    > Back tire needs a couple spokes. It needs a chain, as the one I had
    > broke. The shifting levers give too much resistance, and I'm not
    > sure all 10 speeds are available.
    >
    > Does this bike have any value as it is? If so, I'll sell it on the
    > local Craigslist. If not, I guess Goodwill will get it.


    Honestly, it doesn't sound too hot. I'd suggest giving it to charity --
    preferably a "cycling specific" one if possible (Bikes for Kids or
    whatever).

    Bill S.
     
  3. Ethan wrote:
    > I have a 10spd KHS GranSport bike purchased new in 1988 for about $180.
    > I've hardly ridden it at all in the 12 years since I graduated college. It
    > needs new tires. The pedal mechanism is wobbly. The brakes need to be
    > adjusted, if not replaced, as they rub on one side. Back tire needs a
    > couple spokes. It needs a chain, as the one I had broke. The shifting
    > levers give too much resistance, and I'm not sure all 10 speeds are
    > available.
    >
    > Does this bike have any value as it is? If so, I'll sell it on the local
    > Craigslist. If not, I guess Goodwill will get it.


    Assuming similar quality parts to the originals, new tires, tubes,
    brake pads, chain, shifter and brake cables and replacement spokes will
    be around $80 to $100. This does NOT include any labor, and the bike
    may well need new pedals and a new freewheel. Assuming all the other
    parts can be made functional, you would still have a bike less worth
    less than $100 (assuming a knowledgeable buyer).

    A good project for someone who has mechanical skills, access to
    inexpensive used but still functional parts, and wants a bike that is
    not attractive to thieves.

    --
    Tom Sherman
     
  4. Rich

    Rich Guest

    Ethan wrote:

    > Does this bike have any value as it is? If so, I'll sell it on the local
    > Craigslist. If not, I guess Goodwill will get it.


    There's no cost to try Craigslist, so I'd list it for a few weeks and if
    it doesn't sell then give it away.
     
  5. Luke

    Luke Guest

    In article <[email protected]>,
    Ethan <[email protected]> wrote:

    > I have a 10spd KHS GranSport bike purchased new in 1988 for about $180.
    > I've hardly ridden it at all in the 12 years since I graduated college. It
    > needs new tires. The pedal mechanism is wobbly. The brakes need to be
    > adjusted, if not replaced, as they rub on one side. Back tire needs a
    > couple spokes. It needs a chain, as the one I had broke. The shifting
    > levers give too much resistance, and I'm not sure all 10 speeds are
    > available.
    >
    > Does this bike have any value as it is? If so, I'll sell it on the local
    > Craigslist. If not, I guess Goodwill will get it.


    In its present state I'd say that, unless the prospective buyer is
    mechanically inclined and undaunted by the KHS's rehabilitation, you
    may have trouble giving the bike away. If there are no takers even at a
    nominal price, perhaps you can it dispose of the KHS piecemeal, selling
    it for parts.

    Luke
     
  6. Justa Lurker

    Justa Lurker Guest

    Is there an equivalent to the automobile's "Kelly Blue Book" or "Edmunds
    Guide" for used bicycles ?

    For example, I'm seriously considering getting a new bike [I like the
    Specialized Sequoia] and would like to get a general idea of what I
    might get for selling my present one (for the record, a Trek 7200 bought
    new in 2003 currently with 3000 miles in decent shape and good working
    order....but my question here is a general one).

    Occasionally I check Ebay to try and see what the market is but
    generally speaking there doesn't seem to be anything directly comparable
    listed.

    Do bicycle dealers take trade-ins like car dealers, or will I have to
    sell it myself via classifieds, etc. ?

    Alternatively, if I make a charitable donation --- what value would I
    use in itemizing my tax deductions ? Etc., etc.

    Will watch for replies.
     
  7. You could always donate it to someone who wants to make a LWB recumbent
    like the ones Tom Sherman rides.

    Lewis.

    *******
     
  8. Bill Baka

    Bill Baka Guest

    Justa Lurker wrote:
    > Is there an equivalent to the automobile's "Kelly Blue Book" or "Edmunds
    > Guide" for used bicycles ?
    >
    > For example, I'm seriously considering getting a new bike [I like the
    > Specialized Sequoia] and would like to get a general idea of what I
    > might get for selling my present one (for the record, a Trek 7200 bought
    > new in 2003 currently with 3000 miles in decent shape and good working
    > order....but my question here is a general one).
    >
    > Occasionally I check Ebay to try and see what the market is but
    > generally speaking there doesn't seem to be anything directly comparable
    > listed.
    >
    > Do bicycle dealers take trade-ins like car dealers, or will I have to
    > sell it myself via classifieds, etc. ?
    >
    > Alternatively, if I make a charitable donation --- what value would I
    > use in itemizing my tax deductions ? Etc., etc.
    >
    > Will watch for replies.
    >

    I was going to ignore this but seriously, any somewhat ordinary bike
    becomes nearly worthless after you have purchased it, with the exception
    of bikes like Trek, Cannondale, Specialized, etc. If I tried to trade in
    something at my LBS he would probably laugh, give me a $5.00 discount,
    and put it in his parts bin in the back. As for a tax credit, if it
    isn't registered like a car, I seriously doubt that you will get
    anything more than a big laugh from the tax people.
    I actually doubt that they would give you a break for donating a Lance
    Armstrong signed Trek. It just isn't in their nature.
    Bill
     
  9. Lewis aka [email protected] wrote:
    > You could always donate it to someone who wants to make a LWB recumbent
    > like the ones Tom Sherman rides.


    Like this <http://www.ransbikes.com/Gallery/Archive/Sherman.htm>?

    Actually, it would be more like the yellow LWB that Lewis rides (or
    used to ride), as that bike was homebuilt:
    <http://www.bikeforest.com/limey.jpg>.

    Note that I am wearing cycling shoes, unlike Lewis who had cleats
    surgically implanted into his feet. ;)

    --
    Tom Sherman - Behind the Cheddar Curtain
     
  10. catzz66

    catzz66 Guest

    Justa Lurker wrote:
    > Is there an equivalent to the automobile's "Kelly Blue Book" or "Edmunds
    > Guide" for used bicycles ?
    >
    > For example, I'm seriously considering getting a new bike [I like the
    > Specialized Sequoia] and would like to get a general idea of what I
    > might get for selling my present one (for the record, a Trek 7200 bought
    > new in 2003 currently with 3000 miles in decent shape and good working
    > order....but my question here is a general one).
    >
    > Occasionally I check Ebay to try and see what the market is but
    > generally speaking there doesn't seem to be anything directly comparable
    > listed.
    >
    > Do bicycle dealers take trade-ins like car dealers, or will I have to
    > sell it myself via classifieds, etc. ?
    >
    > Alternatively, if I make a charitable donation --- what value would I
    > use in itemizing my tax deductions ? Etc., etc.
    >
    > Will watch for replies.
    >



    Isn't the '03 7200 still about the same as the current 7200? I was told
    that your tax deduction is the lesser of your original cost or the value
    now, just like when you donate old clothes, a broken appliance, etc.
    Usually the current market value is going to be less that what you paid
    for it new.

    One of the local shops will allow trade ins on brands they currently
    sell. You might check this out if you have several shops to choose from.
     
  11. Too funny, Tom.

    Your great sense of humor is barely eclipsed by your incredible memory.

    Kind regards.

    Lewis.

    ********
     
  12. Justa Lurker

    Justa Lurker Guest

    Thanks to those who replied. I appreciate the feedback very much.
     
  13. "Ethan" <[email protected]> writes:

    >I have a 10spd KHS GranSport bike purchased new in 1988 for about $180.
    >Does this bike have any value as it is? If so, I'll sell it on the local
    >Craigslist. If not, I guess Goodwill will get it.


    Of course it has value. It would fetch somewhere between $5 and $15
    on ebay, easily. plus $35 shipping. if it sold. good luck.

    - Don Gillies
    San Diego, CA
     
  14. Justa Lurker <[email protected]> writes:

    >Is there an equivalent to the automobile's "Kelly Blue Book" or "Edmunds
    > Guide" for used bicycles ?


    You need an ebay account. go to advanced search, completed listings,
    and search for your bike. If you know of another bike with similar
    parts, you can browse those too. Having an ebay account allows you to
    see the final sales price of the bike, which approximates the value.
    that value in reality is only valid to the ebay audience; a local
    non-ebay sale would bring a lower price.

    - Don Gillies
    San Diego, CA
     
  15. Ethan wrote:

    I have a 10spd KHS GranSport bike purchased new in 1988 for about
    $180. I've hardly ridden it at all in the 12 years since I graduated
    college. It needs new tires. The pedal mechanism is wobbly. The brakes
    need to be adjusted, if not replaced, as they rub on one side. Back tire
    needs a couple spokes. It needs a chain, as the one I had broke. The
    shifting levers give too much resistance, and I'm not sure all 10 speeds
    are available.

    Does this bike have any value as it is? If so, I'll sell it on the
    local Craigslist. If not, I guess Goodwill will get it.
    ---------------------------------------------------------

    If you spend about $75. on tires and parts and put in a couple of
    afternoons restoring it, you might be able to sell it for $15. at a
    garage sale.

    Steve McDonald
     
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