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Thread: Unrealistic 2nd hand bike prices

  1. #1
    teambhp
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    Default Unrealistic 2nd hand bike prices



    Hi all

    I was browsing some of the sellers ad in this forum for the past few weeks. I do agree that some of the asking prices are on the ridiculous side.of course,this is a free mkt n they are free to sell whatever prices they want.

    I also saw a few posts where the buyer dislike the prices n post in an unconstructive manner in the sellers thread. Personally I think we are mature adults, n such destructive words are uncalled for. If u feel that the prices are unfair, please leave them alone. If they cannot sell,they can jolly well push in to the bike shop.many sellers are taking advantage of the current high coe prices n sharp buyers do know that.

    I am not moderator.please do not misunderstand my intentions by starting this thread. All I hope to see is a more constructive forum. Let us not degrade to a forum like edmw in hardware zone.com. Thank you

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    No.10
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    Pushing this up. Ironic that the person who started this topic is becoming one of the most annoying pests i see in here.

     

     
  3. #3
    c4ble
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    Quote Originally Posted by No.10 View Post
    Pushing this up. Ironic that the person who started this topic is becoming one of the most annoying pests i see in here.
    Agreed

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    leroyishere
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    Quote Originally Posted by teambhp View Post
    Hi all

    I was browsing some of the sellers ad in this forum for the past few weeks. I do agree that some of the asking prices are on the ridiculous side.of course,this is a free mkt n they are free to sell whatever prices they want.

    I also saw a few posts where the buyer dislike the prices n post in an unconstructive manner in the sellers thread. Personally I think we are mature adults, n such destructive words are uncalled for. If u feel that the prices are unfair, please leave them alone. If they cannot sell,they can jolly well push in to the bike shop.many sellers are taking advantage of the current high coe prices n sharp buyers do know that.

    I am not moderator.please do not misunderstand my intentions by starting this thread. All I hope to see is a more constructive forum. Let us not degrade to a forum like edmw in hardware zone.com. Thank you
    Hi there. Newbie here. Just would like to share my 2 cents one this topic.

    Personally as a newbie in the motorbike arena, it is a little bit difficult to be familiar with second hand bike prices as well some of the regulars or more experienced riders. As such, I do appreciate posts where other forum members remind the sellers if their prices are above the market price, or if a much better deal can be found elsewhere. After all a forum is for sharing. Just as we share good deals, we should also help forummers weed out overpriced products/bikes.

    Occasionally we see posts about shops who like to chop carrot. I'm sure these posts have helped many forummers saved a few bucks, and also serve as a wake up call to shops who think they can charge as they like. Why should a different standard apply to private sellers who are trying to chop carrot?

    Cheers

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    teambhp
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    Quote Originally Posted by leroyishere View Post
    Hi there. Newbie here. Just would like to share my 2 cents one this topic.

    Personally as a newbie in the motorbike arena, it is a little bit difficult to be familiar with second hand bike prices as well some of the regulars or more experienced riders. As such, I do appreciate posts where other forum members remind the sellers if their prices are above the market price, or if a much better deal can be found elsewhere. After all a forum is for sharing. Just as we share good deals, we should also help forummers weed out overpriced products/bikes.

    Occasionally we see posts about shops who like to chop carrot. I'm sure these posts have helped many forummers saved a few bucks, and also serve as a wake up call to shops who think they can charge as they like. Why should a different standard apply to private sellers who are trying to chop carrot?

    Cheers
    Thanks for support

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    idynamic
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    Is $5000 a good deal for a 6-years COE left Phantom 200 (14 years old) a good deal?

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    teambhp
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    Quote Originally Posted by idynamic View Post
    Is $5000 a good deal for a 6-years COE left Phantom 200 (14 years old) a good deal?
    I have received threats. Maybe making a police report is good.therfore cannot comment much

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    aimnfire
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    ok first of all no matter what ridiculous price was put up
    if there are buyers willing to pay, we got no say

    usually when i see those prices i just keep quite
    cause seller got the right to advertise even if its a million dollar
    now whether if they manage to sell it will be another issue
    what can a buyer do is to negotiate the price both can agree on
    if cant agree then move on
    its not like all these bikes are limited editions

    as a buyer, you got to ask yourself 2 things in the current situation
    1. what if i buy and coe crash
    2. what if i wait and coe rises
    if you can answer these and have no regrets when choosing, you can sleep peacefully everynight

  9. #9
    teambhp
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    Quote Originally Posted by aimnfire View Post
    ok first of all no matter what ridiculous price was put up
    if there are buyers willing to pay, we got no say

    usually when i see those prices i just keep quite
    cause seller got the right to advertise even if its a million dollar
    now whether if they manage to sell it will be another issue
    what can a buyer do is to negotiate the price both can agree on
    if cant agree then move on
    its not like all these bikes are limited editions

    as a buyer, you got to ask yourself 2 things in the current situation
    1. what if i buy and coe crash
    2. what if i wait and coe rises
    if you can answer these and have no regrets when choosing, you can sleep peacefully everynight
    No one can really predict how coe goes

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    rapala_fisher
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    My view in buying 2nd hand bike.

    1. what's the COE for the year and month the bike was bought - Never look at current COE (newbie alert)
    2. what's the price of the bike you want to buy at brand new
    3. Calculate depreciation value = COE (Year Bought) + Bike price(New) - Offered price
    different bike different depreciation value but if like $100 or $200 - don't bother, go look else where.
    4. small bike - ride around, feels good then consider ba unless sport bike refer to point 5
    5. Big bikes high maintenance/expensive , Push to bike shop and get mechanic to check before considering else take your own risk.
    2004-2009 Kawasaki KR150
    2009 - 2015 Yamaha Fino
    2015 - Honda PCX 150

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    kzone
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    ultimately depends on how much money u have now, n how much u willing to pay mthly then u look at wats availalable in the market... used as well as new. then usually, u will end up getting a bike a little more expensive than wat u initially plan for. or not get anything at all...
    Liverpool revival has started....

     

     
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    MR BIKER
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    A seller name Trevor advertised his 1993 Yamaha Vmax with coe 2023 for a measly sum of 6999 yesterday at another site. When I saw it this morning, I said to myself wooooooeoeooeoew. this guy must be super rich or the bike must be problem. But the bike is really in superb condition (i assume from the pictures). Trevor must have been reading this site and is trying to tell us that there are still some people who are not affected by the rising coe prices. What do you guys think?

  13. #13
    kzone
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    I think Trevor is not in SBF that's y not asking ridiculous prices. he probably look at the price he bought it for, allow for some depreciation and decide on the asking price.

    Those who read SBF will look at the "market price" based on the asking price in the sales garage section, look at ppl complaining the high COE, then decides on a price that "reflects the current situiation"
    Liverpool revival has started....

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    aimnfire
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    Quote Originally Posted by teambhp View Post
    No one can really predict how coe goes

    Sent from my E2353 using Tapatalk
    no one can predict life

    but the key word here are, are you "content" or "regret"?

    content, sleep peacefully
    regret, dwell it on and on

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    aimnfire
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    with 1993 Vmax,
    are spares easily available when some thing happen?

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    teambhp
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    Quote Originally Posted by aimnfire View Post
    with 1993 Vmax,
    are spares easily available when some thing happen?
    Check with Hong leong yamaha. Answer is no

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    calebike
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    why people accept the mechanics of the used car market, while are so confused over the used bike market.

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    kzone
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    Quote Originally Posted by calebike View Post
    why people accept the mechanics of the used car market, while are so confused over the used bike market.
    most ppl do accept, albeit unwillingly. But the few who dont are more vocal
    Liverpool revival has started....

  19. #19
    mechwira
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    Quote Originally Posted by calebike View Post
    why people accept the mechanics of the used car market, while are so confused over the used bike market.
    1) the rapid rise in bike COE is fairly recent. car coe has more or less stabilised. back about 7 years ago when car coe first soared, there was similar confusion like wat we see now with bikes, in terms of ppl being unsure how much a second hand car should cost. plus private sellers also trying price high.

    i bought my current korean 1.6L exactly when coe first soared. for the next four years, its value based on advertised price was the same as wat i paid for it. i could have sold it at four years and made zero loss.

    2) second hand car market is much bigger and much more easily divided into broad categories, i.e. asian 1.6 sedans, conti 1.6 sedans, asian hatchbacks, etc etc. end result with such a situation is market price is far more visible. i want second hand asian 1.6 sedan, i go one shop and see prices, i can still go another 3 or 4 to compare prices. cheapest price wins. the shop or private seller overpricing the car wont get customers.

    bikes are not like that. the availability of secondhand models is smaller, and not so easily defined in broad categories. a secondhand honda 1000cc sports is not priced the same as a suzuki 1000cc sports. and then how do you price old 2-strokers when there is no new price to compare to?

    only cubs and super4 i think have visible market price. you try overprice your super4, and buyers can easily find cheaper with other seller or even shops. you want 4-6 yr old R1? heres a seller asking for $20k. you look at the forum and you visit 5 shops all dont have. but got 5 yr old gsx-r1000 asking for 15k. is the R1 overpriced? heck knows.


    but like everybody keep saying, dont like then dont buy. you want more accurate market price then go shop, dun go private seller. but if you not happy the $20k 6 yr old R1 you say dam ex but another person really buy, then you suck thumb. because no matter how high and how unhappy, when the price is sold, thats the market price. the upside is if the 20k nobody buy, the seller is overpricing.

    It's true: it's more fun to ride a slow bike fast than to ride a fast bike slow. Admittedly, though... It is MOST fun to ride a fast bike fast!

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    noodle
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    supply and demand.

    if one think the price is too high, look elsewhere. if no other place selling cheap, means market is like that.

    more so on bikes (and cars too) where the COE expiration is ticking, so from seller angle, less rationale to keep asking unreasonable high price while bike gather dust and losing COE time.

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    kzone
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    I'm seeing more bikes with 2 years of coe or less being out up for sale. The high COE is making more reluctant to renew their coe. U'll see more bread n butter bikes being scrapped and more COE flowing to the open category. Big bikes prices nearing the 10 yr mark likely to go down too...
    Liverpool revival has started....

     

     
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    The market is like this...when coe is very high demand for used bikes goes up thus their price will go up due to demand. If coe is low u see those sellers wanto sell also hard to sell their bikes... But true enough there are ppl who sell their bikes at higher than market price cos maybe the accessories they have but...10k worth may not equal to adding 10k to the bike price...be glad can add extra 2 or 3k already..


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    I also got look ard at 2nd hand market...i see the price of carb super4 selling at prices like rvf of a few years ago...its too overpriced...a bike tat is more than 10years old should be priced at the cost of the renewed coe add abit more. Bike has no scrap value but still depreciates... These are purely my own views u all can disagree if u want. Not targetting anyone in this forum...


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    kzone
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    fm wat i see in the sales post, the best buys are 2-3 yrs old bikes. worst is those left with 1-2 yrs COE.
    Liverpool revival has started....

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    Nomed
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    The best is to lock all threads in the bike sale section. Prospective buyers can communicate directly via PM or any other ways as posted by the seller.

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    Basic Economics of Demand and supply. When COE is high. Demand for 2nd hand increase.
    Assuming 2nd hand bikes supply stay constant, then price of 2nd hand bike increase lor.
    Depreciation is only an accounting term, assuming nothing is done to maintain and upkeep.
    Sometimes have to spend $ to replace parts which then extends the useful life of the bike overall.
    You pay for what you get. 一分钱一分货

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    teambhp
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    Quote Originally Posted by whiteo83 View Post
    Basic Economics of Demand and supply. When COE is high. Demand for 2nd hand increase.
    Assuming 2nd hand bikes supply stay constant, then price of 2nd hand bike increase lor.
    Depreciation is only an accounting term, assuming nothing is done to maintain and upkeep.
    Sometimes have to spend $ to replace parts which then extends the useful life of the bike overall.
    You pay for what you get. 一分钱一分货
    You can pay 10k for a 3 yrs old super 4,but if the owner bo chap type, you would be wasting money

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    kzone
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    the asking price of many of the bikes listed here are ridiculous. That's y many are unsold for months, some for years! I'm surprised the 2nd hand bike prices in the shops are actually more reasonable!
    Liverpool revival has started....

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    MR BIKER
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    Quote Originally Posted by kzone View Post
    the asking price of many of the bikes listed here are ridiculous. That's y many are unsold for months, some for years! I'm surprised the 2nd hand bike prices in the shops are actually more reasonable!
    "I'm surprised the 2nd hand bike prices in the shops are actually more reasonable![/QUOTE]

    huhhhhh!!!! now we know!!!!!

  30. #30
    lkm
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    Quote Originally Posted by kzone View Post
    the asking price of many of the bikes listed here are ridiculous. That's y many are unsold for months, some for years! I'm surprised the 2nd hand bike prices in the shops are actually more reasonable!
    Haha... Actually, those with reasonable asking price sell quickly. Then they are removed from the listings. So only those with ridiculous asking price remain on listings lor...

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    whiteo83
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    Quote Originally Posted by lkm View Post
    Haha... Actually, those with reasonable asking price sell quickly. Then they are removed from the listings. So only those with ridiculous asking price remain on listings lor...
    true true.

     

     
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    willing seller, willing buyer

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    Up for awareness

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    its the case everytime coe rises...the demand for used bikes will go up...so owners tends to take this opportunity to sell high n upgade...if u minus off the coe the machine is stll exp...if scrap they wont get tat amt back...alot of sellers don know depreciation...esp 1 or 2 years old machines...their depreciations are the most! so somehow buy from bikeshop even cheaper than pte


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  35. #35
    Limsteel
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    Dont expect anyone include yourself to sell your bike off at price when COE was 1dora. Not realistic.

    Machine value depreciate, but our inflation, standard of living continue to go up. Our food, bus fare, kopitiam kopi, etc... even petrol price dont drop when oil price drops 100USD to 30USD pump price different by how much?

    Ghost, You sure you can get cheaper bike from Shop then Private? I dont really agree with you. Shop need to profit.

    Anyway it is very difficult to sell bike. People are generally more affluent and would rather buy a new bike even when COE is higher. Also most would go to shop, assurance that the Lemon Law is there to help when 5H1T happens.

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  36. #36
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    Quote Originally Posted by ghost04 View Post
    its the case everytime coe rises...the demand for used bikes will go up...so owners tends to take this opportunity to sell high n upgade...if u minus off the coe the machine is stll exp...if scrap they wont get tat amt back...alot of sellers don know depreciation...esp 1 or 2 years old machines...their depreciations are the most! so somehow buy from bikeshop even cheaper than pte


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    Quote Originally Posted by Limsteel View Post
    Dont expect anyone include yourself to sell your bike off at price when COE was 1dora. Not realistic.

    Machine value depreciate, but our inflation, standard of living continue to go up. Our food, bus fare, kopitiam kopi, etc... even petrol price dont drop when oil price drops 100USD to 30USD pump price different by how much?

    Ghost, You sure you can get cheaper bike from Shop then Private? I dont really agree with you. Shop need to profit.

    Anyway it is very difficult to sell bike. People are generally more affluent and would rather buy a new bike even when COE is higher. Also most would go to shop, assurance that the Lemon Law is there to help when 5H1T happens.

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    yes i agree
    u have to see whether seller understands depreciation anot
    if not his asking price will definitely be higher than bikeshop
    for buyers seeking reloan its nvr easy to buy from pte seller
    even pte seller dictates reloan from which bikeshop
    shop profit from the loan interest etc etc...their bike price to some extent comparable to pte seller but of course not all bike shops


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  38. #38
    jedi38
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    Quote Originally Posted by MR BIKER View Post
    A seller name Trevor advertised his 1993 Yamaha Vmax with coe 2023 for a measly sum of 6999 yesterday at another site. When I saw it this morning, I said to myself wooooooeoeooeoew. this guy must be super rich or the bike must be problem. But the bike is really in superb condition (i assume from the pictures). Trevor must have been reading this site and is trying to tell us that there are still some people who are not affected by the rising coe prices. What do you guys think?
    Do share which website, we should go there buy .

    Anyway, a good point of reference is look at a similar bike and how much depreciation it cost. Then there are bikes which are rare, or have accessories or unique number plates that will fall outside the usual depreciation, and depends on willing buyer and seller.

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    MR BIKER
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    Quote Originally Posted by jedi38 View Post
    Do share which website, we should go there buy .

    Anyway, a good point of reference is look at a similar bike and how much depreciation it cost. Then there are bikes which are rare, or have accessories or unique number plates that will fall outside the usual depreciation, and depends on willing buyer and seller.
    Sad to say, it was grab just as soon it was advertised. The funny thing is even though i didnt get to view it while on sale, i saw it near my work place. Scrutined it. Really a beauty

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    Quote Originally Posted by lkm View Post
    Haha... Actually, those with reasonable asking price sell quickly. Then they are removed from the listings. So only those with ridiculous asking price remain on listings lor...
    Quote Originally Posted by MR BIKER View Post
    Sad to say, it was grab just as soon it was advertised. The funny thing is even though i didnt get to view it while on sale, i saw it near my work place. Scrutined it. Really a beauty
    Quote Originally Posted by idynamic View Post
    Is $5000 a good deal for a 6-years COE left Phantom 200 (14 years old) a good deal?
    I posted my phantom for sale n got over 20 interested parties within a day. Some even offered to pay higher than my asking price n 1 came past midnight to "secure" a next in line status in case the 1st guy backs out.

    Initially I regretted putting such a "low asking price" that's obviously way below market price judging from the responses but as always willing seller willing buyer... and I'm a willing seller at that price having used the bike for so long.

    Some of them shared that they have been looking for many months but all too expensive. Quite sad to hear really a lot of ppl looking for bikes being priced out of the market.

    For those who have used their bikes long enuff and bought it when prices/COE are low, hope u can pass them on at good prices so those at the sideline have the opportunity to own a bike fairly cheaply like you did many years back.
    Liverpool revival has started....

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    after selling need to get a new bike also. guess current prices are also stopping people from changing bike.

     

     
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    Quote Originally Posted by kzone View Post
    I posted my phantom for sale n got over 20 interested parties within a day. Some even offered to pay higher than my asking price n 1 came past midnight to "secure" a next in line status in case the 1st guy backs out.

    Initially I regretted putting such a "low asking price" that's obviously way below market price judging from the responses but as always willing seller willing buyer... and I'm a willing seller at that price having used the bike for so long.

    Some of them shared that they have been looking for many months but all too expensive. Quite sad to hear really a lot of ppl looking for bikes being priced out of the market.

    For those who have used their bikes long enuff and bought it when prices/COE are low, hope u can pass them on at good prices so those at the sideline have the opportunity to own a bike fairly cheaply like you did many years back.
    You could always just check out what people are selling their bikes for on Carousell, or maybe ask how much mototiam is selling for the same model year bike, then you sell it maybe 5% lower than everybody else. Like that fair for both you and buyer.
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    Quote Originally Posted by reize View Post
    You could always just check out what people are selling their bikes for on Carousell, or maybe ask how much mototiam is selling for the same model year bike, then you sell it maybe 5% lower than everybody else. Like that fair for both you and buyer.
    I'm happy he didn't do that... the asking price of most used 2B/2A bikes now are ridiculous. Then again we wont know for sure whats the actual transacted price.

    On the other hand, I can find very good asking prices for used class 2 bikes.

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    Quote Originally Posted by Lokess View Post
    after selling need to get a new bike also. guess current prices are also stopping people from changing bike.
    not really... demand is still strong. have a look at the number of bids.

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    Quote Originally Posted by Yahmarhuh View Post
    I'm happy he didn't do that... the asking price of most used 2B/2A bikes now are ridiculous. Then again we wont know for sure whats the actual transacted price.

    On the other hand, I can find very good asking prices for used class 2 bikes.
    The price is ridiculous because people are using current COE prices to benchmark the value of their remaining COE. Even though the bike they bought used to be only like 1.8k COE few years back. It doesn't seem ridiculous when you buy Class 2 bikes because even though in actual fact the people selling them are using the same method, but at least the bike themselves are more expensive than the COE and not so ridiculous looking.
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    Quote Originally Posted by reize View Post
    The price is ridiculous because people are using current COE prices to benchmark the value of their remaining COE. Even though the bike they bought used to be only like 1.8k COE few years back. It doesn't seem ridiculous when you buy Class 2 bikes because even though in actual fact the people selling them are using the same method, but at least the bike themselves are more expensive than the COE and not so ridiculous looking.
    u're probably right bro!

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    just dun buy, dun be a sucker.

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