Author Topic: Selling a brand new 20k bike (never ridden on the road) for 15k  (Read 1205 times)

ThreeWheeler

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Selling a brand new 20k bike (never ridden on the road) for 15k
« on: September 15, 2020, 03:05:14 PM »
My road bike has been my primary source of exercise this summer. I am looking for a 2nd hand left crank arm power meter I can add to my bike so I regularly check kijiji (craigslist for Canada). Today this add popped up as it mentions a power meter in the description:

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New Pinarello Dogma F12 size 54 with power meter and warranty$15,000.00

Description
...
Top of the line bike, not once used on the road (tested on rollers only) as my father in law bought another bike while this one was being built. Frame ordered from Italy, assembled in Canada.
...

I knew there were a lot of expensive bikes out there but spending 20k on a new bike only to buy another bike because you are impatient and then selling the original bike at a 5k loss. I can only imagine what the cost of the other bike was.

I love biking but this sport seems to attract a lot of spendy pants behaviour. I paid $800 for my road bike almost a decade ago (which I agonized over!). The bike was one year old and the guy selling it had paid $1700 for it new. When I went to pick up the bike the seller proudly showed me his new bike, full carbon frame, aero handle bars, aero carbon (I think) wheels. I remember checking out the cost of his wheels when I got home online, he spent more on each rim for his new bike than what I was paying him for his old bike.



Here are the full details for any anyone interested in the specs of a 20k bike.

Quote
Breakdown of retail pricing as follows:
Frame CAD $8,700
Handle bar CAD $2,000
Wheels CAD $4,200
Group set with power meter
Seat CAD $350
TOTAL = CAD $19,750

Top of the line bike, not once used on the road (tested on rollers only) as my father in law bought another bike while this one was being built. Frame ordered from Italy, assembled in Canada.

Local pickup/delivery or buyer pays shipping.

Model: Dogma F12
Size: 54
Year: 2019
Warranty: 2 years from purchase date December 5 2019

Build sheet:
SRAM Red eTrap AXS 12 Speed 2X Groupset - Rim Brake, 172.5mm, 48/35
Spram Red 2X AXS 12 Speed Quarq Power Meter Crankset, 172.5mm, 48/35T
Supacaz Super Sticky Kush Classic Bar Tape, Black, 3mm
CeramicSpeed BB86 for SRAM DUB Road, Black
Zipp 303 NSW Carbon Clincher Wheelset
Realspeed Super Light Presta Inner Tube, Black, 60mm
MOST iTalon Integrated Handlebar Garmin Mount
Chain ring 48-35T
Crank length 172.5mm
Chain guard

Link to the add that will die when the seller takes the item down: https://www.kijiji.ca/v-road-bike/mississauga-peel-region/new-pinarello-dogma-f12-size-54-with-power-meter-and-warranty/1524139832?undefined

sailinlight

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Re: Selling a brand new 20k bike (never ridden on the road) for 15k
« Reply #1 on: September 15, 2020, 03:35:49 PM »
I'd consider him lucky to get that much for it. I just got into downhill mountain biking and wanted to get a good bike since it really affects the fun and safety (at least from my point of view). So many people are selling bikes they bought a few years ago for $8k+ with upgrades and said were only ridden a dozen or so times for less than a third of the purchase price.

I don't understand the exorbitant prices for road bikes though, it's slightly more efficient so you get to your destination a few seconds earlier and get less exercise???

honeybbq

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Re: Selling a brand new 20k bike (never ridden on the road) for 15k
« Reply #2 on: September 15, 2020, 04:12:48 PM »
Triathletes. 

I have to admit I have a bike and the sole purpose is for local races and ironman triathlons. That said, my bike cost no where near that amount. I am also not a good enough cyclist to ever justify that sort of purchase. But many people will- sometimes the difference between qualifying for Kona and not is 10 seconds. So every ounce you can cut down on the bike (which is the most important part) the faster you'll go.

I'm not competitive at all at iron distances but I have gotten on podiums before at small local triathlons. In general, they are fun and can be done on the cheap but some people just take it too far.

joleran

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Re: Selling a brand new 20k bike (never ridden on the road) for 15k
« Reply #3 on: September 15, 2020, 09:58:16 PM »
I don't understand the exorbitant prices for road bikes though, it's slightly more efficient so you get to your destination a few seconds earlier and get less exercise???

If you're racing competitively, seconds can make a difference.  The number of people buying these bikes that are nowhere near peak amateur competition, let alone professional competition though, well, it's a lot.

mountain mustache

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Re: Selling a brand new 20k bike (never ridden on the road) for 15k
« Reply #4 on: September 15, 2020, 11:38:55 PM »
People often fall into the trap of thinking their used bike has much more value than the *actual* market value. No matter how few rides a used bike has....no matter how "like new" it is...it almost always will not sell until it is at least 40-50% below retail price. People are not willing to risk no warranty and 25% off for a used bike, when most shops have Brand New bikes for 25-35% off most of the time anyway. With a warranty!

And that 40-50% off rule of thumb is for a "like new" or "barely ridden" bike. Once a bike is well used, it's more like 60-70% of original retail. The only exception to this rule is a really hard to find bike, something that is sold out or limited edition. I've sold over 25 of my own personal used bikes, and 100s of others in previous jobs. They never ever ever sell for what you want them to sell for, but almost immediately sell when you decide to be realistic about what the true market value is.

We had a customer very similar to this Pinarello road bike guy at one of my last jobs. He would order two of whatever the highest end road bike was at the time $12k-13K bikes...and then 6 months later, order two more. Then 6 months later, sell the original two, and then order two more! Every year he was buying about $50k in new road bikes....and he almost always just rode them on the trainer! Crazy. I think he just needed to spend the money...or something. No idea. But we happily took his money!
« Last Edit: September 15, 2020, 11:41:21 PM by mountain mustache »

moof

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Re: Selling a brand new 20k bike (never ridden on the road) for 15k
« Reply #5 on: September 17, 2020, 04:18:33 PM »
Cycling, like fast cars or other expensive insular hobbies, can lead to a mania and weird normalization of extremes and obsession with the minutia.  If you hang out with car collectors and car mod'ers the idea of dropping thousands for a fancy tail pipe, or custom paint job feels normal, since that is what everyone else is doing (or claiming to be doing).  Sure, your car might go slightly faster, sound slightly better, or whatever, but it only matters to that tiny cluster of folks you have surrounded yourself with.  Much of the rest of the world (and not just Mustachians) will shake their heads at the excess and bizarre choices.

Cycling in similar, where it is easy to think that you can't ride your bike without having the latest XTR or Dura-Ace bling on your bike.  I was just reading on another forum a post by a fellow wanting suggestions for a "budget" groupset to put on a loaner bike.  "Budget" turned into 1 level down from the top of the line.  Dude was convinced that he needed to spend more on drive train parts for a loaner bike than I paid for my whole last bike.

Reality is that 90+% of cycling speed is the rider, and only that last <10% is the equipment.  Once you have a bike that fits and isn't busted most gains are made from fitness, not buying fancy parts or tighter lycra.  Many are convinced they can't be a real cyclist without getting that last <10% in order first.  Only then, after dropping many thousands, will they feel ready to squeeze their gut into some lycra and show up at the local group ride to spend more time jawing about their upgrades than actually riding them.

TomTX

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Re: Selling a brand new 20k bike (never ridden on the road) for 15k
« Reply #6 on: September 27, 2020, 06:42:38 AM »
While not to that extreme - we picked up a reasonably high end ($2,500) e-bike for $700 using the local Craigslist. It had 12 miles on the odometer. While you can get an e-bike for $700 new, the ones at that price point are pretty low quality and short range.

Dave1442397

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Re: Selling a brand new 20k bike (never ridden on the road) for 15k
« Reply #7 on: September 27, 2020, 02:40:20 PM »
I just sold a 2011 Cannondale CAAD 10-4 (SRAM Rival) for $300, and it needs either a shifter or a rear derailleur...I never got around to figuring out what's wrong with it, as it's just been sitting around for years.

I wasn't even thinking about it, but I sold a crankset to a local on Facebook, and he just happened to ask if I had anything else for sale :) One more thing out of the basement!


mntnmn117

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Re: Selling a brand new 20k bike (never ridden on the road) for 15k
« Reply #8 on: September 28, 2020, 02:18:06 PM »
I think there exist people who's true love is the gear procurement and collecting. Whether it's bikes or skis they like the research, the spec comparisons, having the newest thing. Being into mountain biking I have to make sure to stay grounded. Easy to lose that in a group of fellow mountain bikers where it seems like everyone's got a fancy bike.

I'm excited for the high end e-bikes to hit the classifieds. The more I see sold at the LBS the more will be on Craigslist in a few years. Lightly ridden I assume.