This may not be the case at all! Both price hunting and past records of "high price sales" may yield false information in the marketplace as to what items are really selling for. Also, if one well-heeled buyer purchases the bike of their dreams for a high price that reflects the perfect match between buyer and seller, then others may think that they can sell theirs for a similar price. This tends to distort price levels because others see such high prices and think that they accurately reflect the market. This diversity in the market is what makes this hobby so much fun!īecause people can always lower their price, it is apparent that many people often advertise a bike at a high level to "hunt" for a motivated buyer. Conversely, we do part out some bikes that others would spend years trying to restore to perfection. That is why we often screen buyers to insure that they will not capitalize on our sentimentality by parting out a complete bike we sell. At Bicycle Classics we have sold many bikes below their part-out value because we like to preserve the gems. Those who really care about preservation, though, might argue that is not right to take a complete but nice bike and part it out - and I agree. The above examples illustrate the need to look at the value of a bicycle as the greater of either it's "whole" value, or as a sum of its parts. If it has a Campy group in near new condition, original tires, original old label Mavic rims and its original silk tires, the parts group alone might be worth $1,000! That almost doubles the value of the bike! Similarly, a mid 60's production bike with little following might be hard to sell as a bike for more than $400. Such a saddle alone is worth at least $300. Now suppose that on that bike is an early 60's Brooks B17 Swallow saddle in virtually N.O.S. In good condition it may be worth $300 - $400 dollars. Imagine a 1969 Bottechia with Universal brakes and a smattering of Campy. The second way is to look at it as the sum of its parts. The first is to look at it in its entirety and consider its overall appeal. As a rule, the more interested buyers and sellers, the more stable prices will be if everyone has equal information.Īnother important point to remember is that there are two ways to look at a bike. In the lower price ranges, since so many more can afford to consider the item, price variability will be much less. It may be that the blue bike will only sell to a person who can pay $1,500 for it out of financial necessity. To the wealthy buyer, it is not a question of is it $2,000 or $3,000, but often is it the right color and size! As a consequence, it may be possible to sell a brown bike to a collector seeking that specific color for $3,000 while a comparable blue example will be of no interest. Among those who are quite wealthy, bicycle collecting is relatively inexpensive compared to collecting automobiles or expensive artwork. That is because in the mega-buck price zone the market is driven by individuals with relatively large incomes. Interestingly, though, at a certain point - perhaps in the $1,500 and above market price becomes less of an issue. When the dollars increase beyond that, the field of buyers decreases. In the vintage lightweight market, there are many individuals willing and able to pay perhaps $350 - $750 for a bike. This is more pronounced when the item is more scarce. With relatively few buyers and sellers, a market transaction depends upon the perfect alignment of a perhaps reluctant seller and a cautious buyer. Prices also vary considerably even when buyers and sellers are well versed in the field. Such a mistake is common with production bikes that were originally expensive but in reality were rather mediocre If an older bike is well abused but the seller thinks it is a much better bike than it really is, then the price may be way too high. Sometimes, though, they make the opposite mistake. In such a circumstance, the price it is advertised at may be far below current market levels. Instead, many buyers and sellers enter the market only once - i.e., to sell an older bike they have had for years and are now getting around to selling. If somebody were to call a few people who deal in vintage lightweights, or perhaps ask a VRBN subscriber, then they would have a reasonable amount of market knowledge. Often, that is the result of a lack of market information. If there is one notable feature to the vintage lightweight racing bicycle market it is the variability of prices. Also see the article on this site about buying and selling bicycles and bicycle equipment.
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