Author Topic: 5 bikes 4 too many, but still having a hard time letting go.  (Read 633 times)

redwood_canyon

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Hi, I am currently selling a four of my bikes on craigslist since I amassed 5 over the years. A mountain (which I just sold), 1 carbon Road bike, and 2 old steel road bikes. I haven't used my carbon or mountain bike in over a year so I have decided to sell them all to fix up the one bike I keep and to replenish my savings which has gotten a bit low. But at the same time I am having trouble disconnecting. I know I would rather have $1200 or so in the bank than the 3 bikes I have yet to sell. But something just doesn't want to let go. I keep rationalizing though, the Carbon bike I haven't used in years, its non-use is pretty much the same as not having it anymore, so I should sell it. It was a bit big for me to begin with, and I can pretty much break even on what I had paid in 2016, but I still am having a hard time. I would rather have the $700 from selling it to put some money into making the last bike I keep my dream bike, and to go on a week long bike tour this summer. It is hard to detach myself even knowing all this. I would not have much trouble if they happened to be stolen, it would be a bummer, but out of my control. But why am I caring so much if it is my own rational decision to sell them. I am doing great by selling them, in fact on two of my bike at my list price I will be making $250 profit off of them. And essentially doing better than breaking even on the cost biases of the bikes and fixing them up. I know what choice I am going to make, and that is to sell them. But my mind fighting all the rational with feeling is quite a shock.

terran

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Re: 5 bikes 4 too many, but still having a hard time letting go.
« Reply #1 on: May 30, 2020, 04:11:05 PM »
To combat sunk cost fallacy: Would you pay what you can sell them for to buy them? Every day you decide not to sell them you're deciding to buy them for that price.

If there's an emotional component, maybe try that by selling them to someone who will use them you're giving them the best life or something.

Of course, I could be off. Whenever I read economists describe homo economicus, the robot who makes emotionless economic decisions but doesn't exist in real life I think yeah, that sounds like my kind of person.

redwood_canyon

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Re: 5 bikes 4 too many, but still having a hard time letting go.
« Reply #2 on: May 30, 2020, 05:24:48 PM »
I like that sunk cost fallacy. I would definitely not pay what I am selling them for to keep them. I just let go of my Carbon bike today which felt so good. Now down to only 3 bikes! Thanks for your sound advice terran!

dodojojo

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Re: 5 bikes 4 too many, but still having a hard time letting go.
« Reply #3 on: May 31, 2020, 08:04:22 PM »
I had 4 bikes and am trying to cut it down to 2.  Sold the folder last weekend and getting the old road bike to sell by next weekend.  Not getting much for them but the impetus to sell is lack of storage space.  I park my bikes in the apartment building foyer and I'm afraid management will cite my bikes as a fire hazard or a blight. So maybe having external pressure to sell is what makes me much more resolute.  If I had a garage, I likely wouldn't sell.  The road bike has great sentimental value to me.


redwood_canyon

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Re: 5 bikes 4 too many, but still having a hard time letting go.
« Reply #4 on: May 31, 2020, 08:34:57 PM »
@dodojojo

I don't know about you, but I have been having a lot of interest in my bikes on Craigslist. It seems a lot of newer riders looking for good used bikes. Quite the Mustachian thing to do, more biking=more happy people.  Have even noticed it in the neighborhood with kids biking around. I'm saving the money I make make back to make my bike the "dream" bike of mine, and saving the rest for a bike tour along the CA coast later this summer. Good luck selling your bikes!

dodojojo

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Re: 5 bikes 4 too many, but still having a hard time letting go.
« Reply #5 on: June 01, 2020, 10:07:56 AM »
redwood_canyon
Yep, I listed my folder on Saturday and it was sold on Sunday.  I think in normal circumstances my old road bike would not generate much interest but I'm hoping the current demand will get it to sell.  It's an old bike without much flash but it's a really sound bike for a small investment.  Hopefully someone will see its value.