What's It Worth Part II
Okay, we will try to be serious....that is sometimes difficult around here unless we are working on the bikes!
Let's look at what it takes to come to a conclusion of how much to pay (or how much to sell) a bike for $$$$$$$$. We use the sellers base price and work up and down from there. Any number will do but, things found in a shed we start at $500.
Things we look at:
1. Is it all there and complete?
2. How are the cosmetics?
3. Is the fuel tank rusty inside?
4. Mechanical condition. Does the motor turn over and if so, what does it sound like?
5. Does it Run? Which is a big plus....but now is when you take into consideration how much mechanical noise it's making. also take note if anything else fell off or is shaking wildly.
6. What after-market parts are on the bike? Are they still functional?
7. In general, are there any dent's, cracks, or anything else unusual?
Then you adjust up or down using the information gathered from your inspection. There are no set limits on the dollar amount for each plus or minus you gave the bike. Take into consideration what it will cost to make the repairs and set your price accordingly.
It all boils down to how much you're willing to pay for something and what it's worth to you.....
Let's look at what it takes to come to a conclusion of how much to pay (or how much to sell) a bike for $$$$$$$$. We use the sellers base price and work up and down from there. Any number will do but, things found in a shed we start at $500.
Things we look at:
1. Is it all there and complete?
2. How are the cosmetics?
3. Is the fuel tank rusty inside?
4. Mechanical condition. Does the motor turn over and if so, what does it sound like?
5. Does it Run? Which is a big plus....but now is when you take into consideration how much mechanical noise it's making. also take note if anything else fell off or is shaking wildly.
6. What after-market parts are on the bike? Are they still functional?
7. In general, are there any dent's, cracks, or anything else unusual?
Then you adjust up or down using the information gathered from your inspection. There are no set limits on the dollar amount for each plus or minus you gave the bike. Take into consideration what it will cost to make the repairs and set your price accordingly.
It all boils down to how much you're willing to pay for something and what it's worth to you.....
posted by The Crew @ B and J @ 9:05 AM
3 Comments:
At 8:24 AM,
Anonymous said…
But what's it worth? Really?
At 9:18 AM,
The Crew @ B and J said…
Whatever you are willing to pay for it.
At 1:26 PM,
Anonymous said…
Of course when deciding how much you are willing to pay for something like an old motorcycle, you also have to decide if you are going to be the ultimate end user, or are you wanting to resell.
My experience is that if you are wanting to re-sell and make a profit, you need to stick to newer bikes that don't require a lot of new parts and/or labor, or something that is very rare and has in high demand. (incert your own #*&^!$#* about Harleys here)
I think the biggest big part of choosing the right bike also depends on your own skill levels(it's effect on the cost of labor), and what parts are missing.
It is very easy to invest 4 or 5 thousand dollars into a restoration and depending on the bike, end up with something that has a retail value of $1500.00 to $2000.00.
Then again, if you are the end user, and have no intention of selling the bike, it can be worth every penny.
When I look at buying a project bike, I also take into consideration the fun factor. By that I will try to determine the aprox. cost to build the bike to a particular stage, (ie. competion, or concours) and then try and figure out how much I would have to spend doing some other activity to have an equal amount of fun.
I spent somewhere around 4500 to 5000.00 on my restoration(that had spent the prior 12 years laying out in the woods in a local salvage yard), and I also know that the resale value of my bike right now is only around 1500 to 1800.00.
But I can say two things without question.
1st, I have no intention of selling this bike, and
2ed, Based on the FUN I have had both building and riding this bike already, I would have had to spend 5 times as much to equal the fun somewhere else. And thats not including the friends I have made along the way that, and you can't put a price on friends.
So, What is it worth;
WHAT EVER YOU ARE WILLING TO WRITE A CHECK FOR...............
Just make sure to contribute to the Bob Ginder retirement fund along the way
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