Is $550 for a Giant Defy 3 2009 a fair price?

[nikhilm]

Hello,

This is a shout out to the bicyclists on MMM. I've been riding a hybrid (Specialized Crosstrail Disc) for over an year now, looking to shift to a road bike. This popped up on CL today - http://sfbay.craigslist.org/sby/bik/3824061270.html

Is this a fair price to pay?

Thanks!

[olivia]

Hmmm it seems a little high given that the MSRP for a 2013 Giant Defy 3 is $915 new.  Maybe you could negotiate with them?

[Peter]

Consider that even from a bike store you can get last year's models for around 30-35% off MSRP. Meaning I'd pay about 50% of last year's model used from craig's list, and probably 35-40% for a 4 year old model.

I'd go $350 tops.

[mindaugas]

I got a 2009 OCR1 for that price in 2010. It sounds high.
on a side not, I absolutely love both my Giant road bikes and they have held up really well. I have an OCR3 I bought new which is my commuter and the above mentioned OCR1 which is my rec bike. My commute is 20 miles each way so a road bike is a must. It's 5 miles just to the train station if I wuss out.

[Hamster]

Consider that even from a bike store you can get last year's models for around 30-35% off MSRP. Meaning I'd pay about 50% of last year's model used from craig's list, and probably 35-40% for a 4 year old model.

I'd go $350 tops.

I assume you mean 30% off for a used bike that is last year's model? Not last year's bikes new for 1/3 off.

[ScottEric]

That might be a bit high, I'd browse at a few local shops to see what they have in stock from last year first, I got my current bike that way for like $300 off list for an $1100 bike.  Plus they can advise you on fit while you're there, which can be pretty important.

[Peter]

Consider that even from a bike store you can get last year's models for around 30-35% off MSRP. Meaning I'd pay about 50% of last year's model used from craig's list, and probably 35-40% for a 4 year old model.

I'd go $350 tops.

I assume you mean 30% off for a used bike that is last year's model? Not last year's bikes new for 1/3 off.

Nope! Last year's new bikes from bike shops are regularly discounted 30% off to get them out of the store. Just got myself a trek FX 7.5 2012 for $800 brand new at the shop. The FX 7.5 2013 is $1100 :)

EDIT: Scott - Did we buy the same bike?? haha!

[nikhilm]

Thanks everyone. I think I'll try asking at some local shops before I buy.

[Hamster]

I assume you mean 30% off for a used bike that is last year's model? Not last year's bikes new for 1/3 off.

Nope! Last year's new bikes from bike shops are regularly discounted 30% off to get them out of the store. Just got myself a trek FX 7.5 2012 for $800 brand new at the shop. The FX 7.5 2013 is $1100 :)

Have you seen 30% off as prices go up? A few years ago, I bought a Trek Madone 5.2 at the local shop for $3099. The prior year's bike was discounted by something like $150-200 and had slightly inferior components due to an improvement in the Ultegra group that year. Those prices were typical of my online comparison shopping for the two model years, and the shop had a no-price-negotiation policy.

Before I get any face punches, I realize it's a crazy amount of money for a bike. It was pre-mustachian and was probably my greatest splurge.  I do very much enjoy riding it, though, and can't convince myself it would be worth selling on the used market. I was putting in a couple thousand miles a year, and am trying to get back to that level again since giving myself some facepunches for excess driving.

As an aside, a few years before that, at another shop, I got $100 off my much more practical, but still not cheap, Surly Long-haul Trucker by paying cash (discounted from $1,000 to $900). I was kind of surprised at the cash discount, since I don't think they can keep that off the books very easily... (btw, from a recent Freakonomics podcast: nearly 17% of US income taxes go uncollected due to not being reported - $450 billion per year. The biggest portion of that is unreported cash collections by small businesses).

[ScottEric]

I assume you mean 30% off for a used bike that is last year's model? Not last year's bikes new for 1/3 off.

Nope! Last year's new bikes from bike shops are regularly discounted 30% off to get them out of the store. Just got myself a trek FX 7.5 2012 for $800 brand new at the shop. The FX 7.5 2013 is $1100 :)

Have you seen 30% off as prices go up? A few years ago, I bought a Trek Madone 5.2 at the local shop for $3099. The prior year's bike was discounted by something like $150-200 and had slightly inferior components due to an improvement in the Ultegra group that year. Those prices were typical of my online comparison shopping for the two model years, and the shop had a no-price-negotiation policy.

Before I get any face punches, I realize it's a crazy amount of money for a bike. It was pre-mustachian and was probably my greatest splurge.  I do very much enjoy riding it, though, and can't convince myself it would be worth selling on the used market. I was putting in a couple thousand miles a year, and am trying to get back to that level again since giving myself some facepunches for excess driving.

As an aside, a few years before that, at another shop, I got $100 off my much more practical, but still not cheap, Surly Long-haul Trucker by paying cash (discounted from $1,000 to $900). I was kind of surprised at the cash discount, since I don't think they can keep that off the books very easily... (btw, from a recent Freakonomics podcast: nearly 17% of US income taxes go uncollected due to not being reported - $450 billion per year. The biggest portion of that is unreported cash collections by small businesses).

Your fancy bike costs only as much as what some people spend on crossfit for a year (at $250 a month).

[Peter]

Ya I won't hold it against you for a $3000 bike haha!

I don't go that high simply because I'm not really in teriffic shape anyways so don't think I could make use of it's marginal benefits. I only use my bike for casual weekend riding and errand commuting.