As some of you might know, I have been selling bikes for a number of years at a few different dealerships around town and in doing that have been involved in both buying them and in taking them on trade. Here's my $0.02 and advice for anyone who wants it:
I have always been astounded by how much people think their used bikes are worth and I've noticed that, generally, the better the overall condition of the bike, the more realistic the owner is as to it's value. I've also noticed that the bikes to be wary of are the ones on which the little things have been overlooked... Nothing causes me to cringe as much as seeing a bike which has gone 3000k without having its chain adjusted/lubed, or one where there is so much freeplay in the controls that they would be better suited to a '56 Studebaker (particularly if the seller thinks that this is “normal”). Things like that cause me to wonder what the bike was like before it was "cleaned up" for sale and, more importantly, to wonder what horrors await when the side panels are removed. Bikes like this generally won't have service records (lost or misplaced usually...) and you have to take the sellers word that the service was "just done." Conversely, the owner of a clean, well-maintained bike is, counterintuitively, much more reasonable an realistic as to its value if for no other reason than that they have spent more time at shops getting their parts, getting service and seeing what other similar bikes are priced at as opposed to merely scanning ads in the Buy and Sell for the highest number...
If you're buying, don't over pay (and if you're selling; don't overcharge) for the accessories and customizations. Sure, a bike can have trick accessories - which may have cost a lot -but they only add a little value; they are really only of real value to the person who customized it to suit their preferences -- those trick Watsen Designs flush mounts or that Hindle slip on might be worth 10% - 30% of what you paid for them once its time to sell the bike (unless of course you are selling your bike to someone with exactly the same preferences as you)
A lot of people focus on the odometer. The average rider in this market puts 5000-8000kms on their bike per year. If the seller can prove that the proper servicing has been done at the proper intervals, you shouldn't be too concerned if the kms exceed this (if your more that 10000k high, start ticking back about $250-$500 per 10k interval, depending on the bike). On the flip side, be very concerned if the kms seem low but the bike appears to be in need of maintenance or consumables that it shouldn't. If a bike is in need of a new front tire or a new chain/sprocket set at 5000kms there's probably (9 times out of 10) something's wrong - like an unhooked odo - or a loose nut behind the wheel...
Time of year always affects a bikes value but not in the way one might think. With new bikes we know that the price in April will be lower in October and may creep back up in the spring when factory rebates end. Time has only one effect for used bike prices. They go down. There is a new Blue Book that comes out every three months and I have yet to see a single occurrence of a bike price increasing in value. Prices take an especially huge kicking if a new model comes out, especially if it’s at a lower price. Ducati's new 1098 starts at about five grand less that the 999, the "S" model for $10000 less (about 30%less). You can rest assured that the values of any used 999s out there will decrease correspondingly...
My above ramblings aside, a bike is ultimately worth what someone is willing to pay for it. Money talks. If you don't feel ripped off, or like you're ripping someone else off, then the price of the bike is probably the right one.
Hope that somebody finds this useful-
ReRun
ICBC won't give you credit for the bling [after-market add-ons] and really... you can't rely on a shiny POS.
