View Full Version : I guess it really is a buyer's market.


capt_bugaloo
May 16th, 2010, 08:55 PM
I've decided to sell my 2008 Ninja 250r to move on to a different bike. Nothing wrong with my Ninja - it's great - but I get a little bit bored of any bike I own after two or three years, and it would be nice to ride something completely different.

On Friday I put an ad up with photos and a detailed description on the local Craigslist, Kijiji, and a couple of other web sites. My bike is in really nice shape - no issues or problems at all, and the price is very favorable in comparison with other ads for 250s.

Each of the ads has had about 35 to 50 visits, yet I have not had one call or email - not even someone trying to lowball on the price.

Ah well, I guess I am riding my Ninja a while longer yet... :rolleyes:

Flow
May 16th, 2010, 08:58 PM
This is something I can understand very well -- marketing is my job.

35-50 visits isn't much, just wait for a while.

Rayme
May 17th, 2010, 04:02 AM
Is that after 1 days on kijiji? :P

capt_bugaloo
May 17th, 2010, 07:39 AM
Three days.
Posted via Mobile Device

ninja250
May 17th, 2010, 07:42 AM
Everyone's broke right now.
More people getting laid off every day.

Guy I just bought my used bike from got really lucky. Damn my used bike just got lucky I bought it too. lol Now it gets a makeover and PROPER care.

Third time buying used, and I'll say it a third time. Don't buy used! 99,9% of it is crap. You really gotta do your research and bring your mechanic etc. No joke. I'm a better mechanic than most of your bike mechanics and I am telling you now, do not buy used bikes.

adouglas
May 17th, 2010, 07:48 AM
That indicates you're asking too much.

I often see stuff that's up for sale week after week with no interest, and the owners can't figure out why nobody wants it.

ANYTHING will sell if you've got a good handle on the true market value.

If you must get a certain number of dollars out of the sale, then by definition you're willing to accept the idea that the item will never sell. It's simply worth more to you than anyone else.

I'm a musician and I've bought and sold a bunch of gear on ebay.

My strategy is simple, and based on one overriding principle:

What I think an item is worth is not relevant. What the market thinks it is worth is everything.

So when I sell stuff I start the bidding ridiculously low and make the auction a long one. I have never failed to sell an item for a decent price that way. Sometimes I make a tidy profit.

But I am always willing to live with whatever the market deems the item to be worth. If I take a loss of a couple of hundred bucks, so what? In a year I'll have forgotten all about it and in the meantime I'll be rid of that unwanted object.

I've got an auction going right now for a bass I don't play that much. I started the bidding $200 below what I'm confident it will eventually sell for.

Within 12 hours I got two bids and, MUCH more important, 22 people tracking the item. That's only going to increase. With a crowd watching it, the activity is going to skyrocket in the final moments of the auction, and that's money in the bank, baby.

If I'd started the bidding close to what I think it's actually worth, most of those watchers would have moved on... opening bid too high. Mob psychology....

ninja250
May 17th, 2010, 07:55 AM
^^^ That is called recycling hobbies. Taking a slight loss on old stuff for a few new items.
Guilty of doing so myself, but I usually start high instead of letting them bid it up.

Sounds like the OP needs to recycle his Ninjette.

adouglas
May 17th, 2010, 07:56 AM
Third time buying used, and I'll say it a third time. Don't buy used! 99,9% of it is crap. You really gotta do your research and bring your mechanic etc. No joke. I'm a better mechanic than most of your bike mechanics and I am telling you now, do not buy used bikes.

99.9 percent? I dunno about that.

It's obvious when a bike's been taken proper care of.

Bought my 08 in April of 09 with 1300 miles on it, obviously well cared for (wealthy owner, clean/neat house and garage, no scratches, no indication of hard use) for $3k. A good deal to be sure, and I didn't need a mechanic to tell me the bike was okay.

Pay attention to detail and you should be okay IMHO.

ninja250
May 17th, 2010, 08:01 AM
Well most of them here in Cali have problems.
You are lucky to find one that honestly doesn't, and if you do it will be a ninja 250 that nobody rode because they upgraded or a GSXR 1000 that someone was afraid to ride. :D Then they are usually practically brand new and expensive.

I still consider most bikes maintained by service mechanics as not maintained as well. Those dudes don't look over all the bolts like I do. I start working on people's bikes and the bolts are barely hanging in there. SCARY stuff.

I thought I paid attention to detail on my GSXR but there was still quite a bit of stuff that I missed, even after looking at it twice before I bought it.

patw
May 17th, 2010, 09:12 AM
I still consider most bikes maintained by service mechanics as not maintained as well. Those dudes don't look over all the bolts like I do. I start working on people's bikes and the bolts are barely hanging in there. SCARY stuff.

I had this exact problem with the local dealer. The service manual says the first service should check all the nuts and bolts, the bike came back and a week later the two adjuster bolts on my clutch actuator were just hanging on the wire... my friction point was pretty much at the grip. Plus the bike came back filthy (grease all over the seat and fairings) and it looks like they had gone mudding with it. I had just cleaned it before I delivered it for service.

So my perfectly fine bike with almost-new oil came back filthy and a potential death trap, but with changed oil (I hope...). I change my own oil now, grease the axles, do the chain maintenance, watch the tire pressure and brake pad depth. I dread having to bring this to the dealer for the 12k valve check :(

I'm getting better at this stuff, but I still don't have the confidence to do the hard-core maintenance items.

capt_bugaloo
May 17th, 2010, 10:30 AM
I guess it's just a bit surprising to me, is all. I've sold my bike maybe a dozen times in the past, and I've always gotten responses right away - like within a few hours. This time, not even lowball offers from lookie-loos.

Ah well, I'm not desperate for cash so if it doesn't sell I'll just ride it a while longer!

pathfinder
May 17th, 2010, 10:53 AM
I agree with adouglas. Prices are always decided by the market, unless you have uninformed parties in the transactions.

Ninjettes may be hot selling items, but they do have a market value. As a general rule, anytime we go above it, we may find it harder to sell. I have seen 08 250s priced at $3500 or above here in the midsouth states which always surprises me. Perhaps EBay usually has much more saner values in $2400-$2700 range. Add $350-$500 shipping and you got a decent used bike.

The best pricing tools are NADA or KBB:
http://www.kbb.com/motorcycle

Here is a link that basically breaks it down clearly (it applies to motorcycles as well):
http://www.craigslist.org/about/best/sfo/1050312023.html

Also consider not to use the word "firm" in pricing. Studies have shown that buyers really do not care with such ads. When there are several motorcycles in the market, with low end motorcycles your only competitive advantage is pricing. Reducing $100 or $200 for a quick sale may often be much better than keeping it in market while maintaining, putting miles, adding wear & tear, paying for insurance etc.

backinthesaddleagain
May 17th, 2010, 11:42 AM
I saw 2 brand new 2009 250R for $3699 + $249 fees at a dealer in April.

MrMuffin
May 17th, 2010, 12:54 PM
Post a link to the craigslist or Pm me with a price i live in calgary AB and if the price is right i may get my uncle to pick it up for me.

capt_bugaloo
May 20th, 2010, 10:42 AM
Well, it's been about 6 days since I posted my ads, and not one call or email. Some folks have suggested my price is too high, but from looking through the local ads, I'd say my price is in line with what other locals are asking - and if anything, my price is low.

I think it's just a matter of people not buying. I see most other motorcycle ads here just sitting for weeks without being closed. The local economy is not nearly as in the crapper as most of the USA seems to be, but it's definitely not great either.

I have an idea I'm going to try: park the bike at a busy local shopping mall where it will get a lot of visibility, and put a "For Sale" sign on it with my cell number. It's a long weekend here in BC, and the weather is supposed to be sunny, so maybe the extra exposure will get some calls :confused:

FrugalNinja250
May 20th, 2010, 03:27 PM
...but from looking through the local ads, I'd say my price is in line with what other locals are asking ..."

This may be the problem, methinks. What you need to find out is what the others are selling for, not what they're asking. People ask all day for a price that's much higher than they think it's worth, simply to allow room to get talked down to what it's actually worth to them to sell.

Like the others said, if you're not getting queries your price is too high for your market area. Try lowering your price, or a different market.



I have an idea I'm going to try: park the bike at a busy local shopping mall where it will get a lot of visibility, and put a "For Sale" sign on it with my cell number. It's a long weekend here in BC, and the weather is supposed to be sunny, so maybe the extra exposure will get some calls :confused:

Hopefully it's much nicer up there; down here that bike'd be gone in a day, two at the most. And I mean gone as in stolen, not sold.

capt_bugaloo
May 20th, 2010, 03:29 PM
Not here. People can and do leave their motorcycles parked out all day at the local malls.

capt_bugaloo
May 25th, 2010, 08:41 AM
I had an email on Saturday from a guy who claimed to be a student without a lot of money. He said he liked the bike but all he could offer was $2500 tops. I thought about it, but I think I can do a bit better than that, so I counter offered and he said nope, $2500 was his best offer.

Ah well, I will let the bike sit for sale a while longer and see what happens...

tabogon
May 25th, 2010, 09:00 AM
I think you might also have problem because of the banks. I was looking for a bike and I put in so many loan apps for used bike that were way below resale value and every one of them came back denied, up until I applied for a loan for a brand new bike.

It seems the banks aren't too keen on giving loans for used vehicles these days, same thing happend to my Explorer when I bought it.

drowe531
May 25th, 2010, 09:07 AM
Another issue with loans is how much the bank will cover. When I just bought my 08 in the spring their computers said the book value was 2650 if I recall, but luckily my bank covers up to 120% so I was able to get the loan for the 3k. For someone who works in a bank I had to explain the different between book value and market value on a highly sought after item.

tabogon
May 25th, 2010, 09:14 AM
Yup yup, my OTD price was more than their book said it should be because they were going off the 09 msrp, but they cover up to 125% so I get the dealer to drop it a little and I got the loan no problem.

backinthesaddleagain
May 25th, 2010, 09:29 AM
Funny I was talking to a new bike sales guy and I brought up NADA values of 250R. He said don't ever take NADA trade value on a 250R if trading in. There is a wider than usual spread between what NADA says the value is and what the market will pay for a clean 250R. Hang in there, it will sell.

drowe531
May 25th, 2010, 09:41 AM
Exactly NADA value or blue book value doesn't show what the market value of the bike is. Basic economics of supply and demand.

jonthechron
May 31st, 2010, 09:36 AM
Some tips from me selling experience, (I've probably sold over 500 items on eBay and kijiji):

Make sure you take several very decent pictures (of a clean bike of course) with a decent camera in good quality. Remember, pictures are worth a 1000 words.

Second, I think that if the price is too low, people will think something might be wrong, state a reason for selling the bike, write "VERY NEGOTIABLE"

List the mods, condition of the bike and maintenance done to the bike. Post your add on several different websites.

BTW, can you post me a link to your add?

jonthechron
May 31st, 2010, 09:40 AM
hum, Ive found your add, I see your looking for 4000 for it

http://victoria.kijiji.ca/c-cars-vehicles-motorcycles-sport-bikes-2008-Kawasaki-Ninja-250r-red-6300-KM-W0QQAdIdZ205406724


I know we live 5000 KM appart, but I got my 2009 250R for $2950 CDN$ + 7%tax here in quebec and the bike had 400 Km on it.

You might want to see what other bikes are going for.

kawigirl07
May 31st, 2010, 09:54 AM
i just sold my 2007 with 2800 km for 3700 it sold in one day

capt_bugaloo
May 31st, 2010, 03:03 PM
I have had a couple of offers since my last post.
One guy said he wants to move to a smaller bike and offered to make a straight swap-over with his bike, a 2005 Suzuki GS500F. I thought about it a bit, but it's not really the bike I'm looking for.
Got another email this morning from a guy asking a few questions, so I sent him some info and a couple more pics.

Mailman
May 31st, 2010, 03:23 PM
Fwiw, NADA and KBB are terrible to use for bikes, as they are very unrealistic due to not being geared towards bikes as much as they are cars.

The "standard" and better source to use is the used bike guide at Motorcycle Consumer News, http://www.mcnews.com/mcn/

They have a great mag too. And no, I have no affiliation with them :)P

WebMasterP
May 31st, 2010, 05:18 PM
I got my red 2008 Ninja 250R with 355 on the Odometer for ... $3,000. A brand new 2009 from the dealer near my house is listed at 3750 + Assembly of like 550 (I think it was).

I bought mine the day after she posted it up, but made my initial inquiry the day she actually posted it. There are, however, people trying to sell their Ninja 250R's for like $4000+ arguing that their extended warranty makes them more valuable. While that's true to some extent, those bikes stay on craigslist forever. I think the 2nd hand bike market gets screwed over a bit by these stupid assembly fees. I wish they'd just roll them into the MSRP.

backinthesaddleagain
May 31st, 2010, 05:52 PM
My dealer charges $125 for set up and delivery. Most sport bike setup involve opening the crate, unbolting what holds it in the crate, attaching the windscreen, and maybe the mirrors. Then lights, cable slack, fluids are checked along with a quick start up and ride around the lot. Cruisers and tourers take much longer. I spend many a lunch talking with a friend who does the setup for local dealer. The msrp should have freight included to remove one more variable in the pricing, but what manufacturer would do that and risk having a more expensive bike in a particular class. BMW might, but not sure. The dealer does pay for the bike to be delivered to the shop, but these shops that charge $550 are thieves.

kevlarorc
May 31st, 2010, 06:00 PM
Everyone's broke right now.
More people getting laid off every day.

Guy I just bought my used bike from got really lucky. Damn my used bike just got lucky I bought it too. lol Now it gets a makeover and PROPER care.

Third time buying used, and I'll say it a third time. Don't buy used! 99,9% of it is crap. You really gotta do your research and bring your mechanic etc. No joke. I'm a better mechanic than most of your bike mechanics and I am telling you now, do not buy used bikes.

I'm not even mechanically inclined and I bought used. Is it possible that I could have gotten it home and it doesn't even go 5 mph? sure. Was it worth the discount I got. Totally.

BlueRaven
June 1st, 2010, 09:17 AM
I find alot of ppl here just browse on kijiji because they have nothing else to do.

I hate it when your actually interested in buying something and the person leaving their number don't ever answer their phone or return your messages when they say they prefer for you to call, in my case it was a dealer and the ad is still up.

GeneJunkie
June 1st, 2010, 05:25 PM
I got my red 2008 Ninja 250R with 355 on the Odometer for ... $3,000. A brand new 2009 from the dealer near my house is listed at 3750 + Assembly of like 550 (I think it was).

I bought mine the day after she posted it up, but made my initial inquiry the day she actually posted it. There are, however, people trying to sell their Ninja 250R's for like $4000+ arguing that their extended warranty makes them more valuable. While that's true to some extent, those bikes stay on craigslist forever. I think the 2nd hand bike market gets screwed over a bit by these stupid assembly fees. I wish they'd just roll them into the MSRP.

... its just one of the ways the dealership makes money, its actually one of the areas where you can bargain the price down.

I bought my 2010 brand new for $4237.04 out the door. I hate to say it but over $4000 for a used bike is just insane.

Exactly NADA value or blue book value doesn't show what the market value of the bike is. Basic economics of supply and demand.

NADA values seemed pretty spot on when I looked at them for when I was considering a used bike. I definitely don't think there is a supply/demand issue with the 250 atm. Everyone is broke and is trying to get money which in theory lowers their value. Dealerships are dead (my fiance works for one) and trying to blow out 2009's and still trying to sell 2010s at the same time, seriously almost any salesman is going to work with you on a price. Honestly, and this is the exact thought process I went through, why spend $3500-$4000 on a used bike that I don't know the complete history on, when I can spend a little more and get a brand new one.

Regardless, good luck selling your bike but don't be surprised when people low ball you.

capt_bugaloo
June 2nd, 2010, 12:58 PM
Today someone offered me $3200 CND - about $3000 US. That's probably as high as I can hope for, so I told the guy if he's willing to pay cash I'm game.