How to Calculate Fair Value for a 2008 V-Strom 650 with 8,200 Miles?

 

Got off the phone with owner, he says $5,000K is minimum he will accept for
it.  He has indicated that the new V-Strom 650's (2009) have had a price
increase and are $7,500, which justifies $5,000 for his bike.

My way of thinking is that the 2008 V-Strom 650's were $6,600 new MSRP, so a
price somewhat lower than $5,000 is indicated.  The price of 2009's is
irrelevant if you're selling a 2008.

Any scientific way of thinking about this?

I think that quoting the price of the next model year is inappropriate, but
other than that, how much should a bike with 8,200 miles depreciate?

Thanks, Datesfat

 

Datesfat Chicks wrote:

Think about this:  Honda has just dropped the MSRP of leftover brand new
2007 VFRs by $2,660, from $10,599 to $7,939.  I saw a brand new 2008
FJR1300AE for sale at a local dealer for $9,999 (MSRP was $15,699) and
the same dealer had a brand new Suzuki B-King (naked Hyabusa) for $8,400
(MSRP $12,899).

It's a buyer's market.  MSRP is just a number made up by the manufacturers
and if you haven't figured it out by now it doesn't mean shit given the
state of the economy and the unemployment rate.  It REALLY doesn't mean
anything in the case of a two year old used bike.  Log into ebay and look
up the price of completed auctions for similar bikes.  It's the fairest
way of estimating the average valuation in my opinion.  You can scour
Craigslist for similar bikes but asking prices are oftentimes far higher
than the final price.  It comes down to the fact that the price will be
whatever you and he can agree upon.  But remember he is not the only guy
selling one of these bikes.  If you're willing to travel just a little
there are MANY other V-Stroms you can consider.

Here's a 2004 model that's 140 miles away, the guy is asking 3500 and
will probably take at least 250 less than that, which should pay for
the trip.

http://flint.craigslist.org/mcy/1409243913.html

In any case 5 million bucks for a motorcycle seems just a tad high to me.

 


Hehehe.  I originally wrote $5K but then meant to change it to $5,000 to
indicate that he meant precisely $5,000 rather than around $5,000.

Editing mistake.

Last time I checked, I wouldn't be able to cough up $5,000K.  But the big
banking mistake that changes my life and causes me to flee to a country with
no extradition could come any day now ...

Datesfat

 



Don't get the 650 then. You want at least a 1000cc to get away quickly.

--
Beav

VN 750
Zed 1000
OMF# 19

 

Beav wrote:


 >> to a country with no extradition could come any day now ...

He'll never make it to Albania, North Korea or Somali on any motorcycle.

SQ