Value of my bike

[jila88]

I've got an 88 rs100 that I'm thinking of selling. I just bought it last year and I know what I paid, but how do I know what it is really worth? It's got 25000 miles and is in excellent shape, hard bags, new tire on rear. What do you guys and gals think?

[brentde3]

picture?

[jila88]

I have a picture saved in my own Hotmail but I don't know how to post it here-sorry.

[20715]

I think if you're near Illinois you need to send me a PM. :laugh

[PGlaves]

Well,

NADA shows the following value:

Excellent $2,350
Very Good $1,600
Good $800

Now, since NADA is used mostly by lenders for loans, dealers for trade-ins, and insurance companies for reimbursements, it is always low in my opinion.

Kelley Blue Book shows:

Full Retail Value $3,945
Trade in Value $2,710

By their definition, Retail represents what dealerships charge for bikes on the showroom floor - which assumes they have been inspected and serviced. Trade in is what to expect as a trade.

I generally consider that a value for an individual sale should be less than full retail unless there is good evidence of service history and recent service - but should be generally more than Kelley trade-in value.

I recently did a formal appraisal on a bike (divorce property dispute) in which I looked at the asking prices in the ON, IBMWR, and eBay Buy it Now. I found 16 bikes of the appropriate model/vintage for sale. The "asking" prices averaged about 1/3 more than Kelley, and almost twice NADA. Actual sales data is not easy to come by.

So - without any number crunching, I think that bike is probably worth about $3,000 plus a few hundred for low mileage, plus a few hundred if it has a recent inspection and service by a qualified technician. If it is in both Excellent mechanical and cosmetic condition, and the low mileage can be documented then it might be worth $4,500.

p.s. No, I don't normally do appraisals, although in a former life I was certified to do real estate appraisal reviews. I spent more time on that one appraisal than I did doing my Income Taxes - but did that one for an acquaintance of mine who needed it for the Court.

[PGlaves]

For Grins, here is how NADA describes its valuation system"

"Value Explanations

Prices shown are retail consumer values and to be considered as selling prices. Trade-in and loan values are confidential for our dealers and industry base subscribers. Trade-in values are to be determined by local dealers and are generally lower than values shown.

Suggested List – We have included manufacturers' suggested retail pricing (MSRP) to assist in the financing, insuring and appraising of vessels. The MSRP is the manufacturers' and/or distributors' highest suggested retail price in the U.S.A. when the unit was new. The MSRP is furnished by the manufacturer and/or distributor and are assumed to be correct. Unless indicated, the MSRP does not include destination charges, dealer set-up, state or local taxes, license tags or insurance.

Excellent — A close to perfect original or a very well restored motorcycle. A motorcycle that is stunning to look at and any flaws are minor and not readily apparent. Everything works as new. All equipment is original, new old stock (NOS) factory replacements, or minimal use of excellent quality reproductions. An excellent condition bike may seem to most individuals as a perfect motorcycle but to the trained expert will have minor flaws or inaccuracies.

Very Good — An extremely presentable original motorcycle showing minimal wear, or a well restored motorcycle. Starts, runs, and rides well. Needs no mechanical or cosmetic work. All areas have been detailed. Beautiful to look at but below excellent condition because of limited used or restoration flaws.

Good — Presentable sheet metal, engine, and frame with signs of wear. Not totally detailed but very clean. Frame should be straight and unaltered. Shiny, attractive paint but may have evidence of minor fading or imperfections. Starts, runs, and rides good. May need some minor mechanical or cosmetic work but is fully usable and enjoyable as is.

Fair — Starts, runs, and rides OK but needs some work. Motorcycle shows signs of use but not abuse. Any previous restoration or mechanical work is older and not holding up well. Cosmetics, body, and mechanics all need work to some degree. This is a complete motorcycle with most sheet metal and body parts being correct but only in fair condition.

Poor — Used for Harley-Davidson and Indian motorcycles only. A poor condition motorcycle has been used and abused and needs major mechanical and/or sheet metal work. It may or may not run. Alterations are evident to the frame or sheet metal. Motorcycle is missing or has incorrect parts, i.e. fenders, tank, seat, mechanics, installed. To some individuals this is a "project or parts bike" at best. A poor condition motorcycle is one best left to the professional for restoration.

"Rule of Thumb"
1. Stated prices are retail
2. Price applies to United States transactions.
3. Be sure condition level is accurately matched as described in the above Condition Guidelines.
4. Value may vary by region and season. Use the value as a guideline.
5. We assume no responsibility for errors or omissions."

[mymindsok]

As we all know, the prices listed in the guides are useless, because they never seem to reflect the market.

Secondly, BMW prices tend to be inflated for varias reasons, so the bikes trade to and from indivduals, at higher prices that they sell for at auction. (Auction prices being the usual indicators for market prices.)

As an Auctioneer and Appraiser, I think that the BMW selling prices are a poor indicator of a bikes true values but... the market speaks and all I'll say is: Condition, condition, condition, condition. Everything revolves around condition.

A low mileage, truly mint, low/no mileage, RS can bring $8,000 to $10,000 for the right bike, under the right circumstances but the same bike with 100,00+ miles, some rust and faded paint, will do well to bring $1500.

The last thing is this: For the patient person who knows what he wants and is willing to search for the right bike, look at a lot of bikes, wait for the right price, keeps a couple thousand bucks in cash laying around the house and who knows a motivated seller when he sees one... well, the deals are out there.

No one wants to believe me but I have bought several BMW's for almost nothing and three very nice ones for less than two grand.

PS: these questions are impossible to even 'ballpark answer' without a photo of the bikes in question. No photos/no numbers!

[swall]

I found the NADA "Poor" classification interesting. "Generally used for Harley Davidson and Indian motorcycles..."When did they last update the standard? 1963, after Indian had been out of business 10 years?

[osbornk]

As said, the main consideration is condition. Unlike value books for cars, the motorcycle and RV books are national prices. The local prices can vary considerably based on the local market. The popularity in a given area, the availability of dealers, repair shops and other things can make the value more or less than the listed value. Where I live, BMWs or any European bike don't sell very well because the nearest dealer is 150+ miles away and Harley dominates the market.

[108625]

It is worth what someone is willing to pay for it, period.
People can tell you higher or lower all they want, but just like any other commodity, someone has to be willing to pay that price for it to truly be "worth" that amount. You can have invested $X, and only be asking $Y, but if people are only willing to pay $0, it isn't "worth" $Y, because you won't get it.
Appraisals around here aren't worth much either; those who swear this model or that is a collectable and will be "worth" putting money into, also boast about how little they pay for them. So which is it? I see airheads advertised as high as new bikes sometimes; but I don't know what they sell for.
Maybe the way to get a more informative answer would be to ask the question the other way around.
Instead of:
"I'm thinking of selling my 1988 BMW R100RS, how much should I ask?"
You might have tried:
"I'm looking to buy a 1988 BMW R100RS, how much should I offer?"
I think the answers may be a lot more revealing.

[jforgo]

Motorcycle Consumer News publishes a comprehensive list of used bike prices which is supposedly based on actual transaction prices. How this data is being obtained, I don't know, but if I look at the numbers and compare them with what I think my bikes are worth realistically, they look pretty good.

I would be sceptical. I have 5 bikes, none from a dealer, all private party, my state does not care, or therefore record, what I paid. Statistically my bikes do not exist.

The value reality is when someone slaps leather, shows the $, and the other person says yes. Everything else seems to be speculation and hope. These guides just give you ideas as to starting numbers to throw out in your quest.

[crazydrummerdude]

I would be sceptical. I have 5 bikes, none from a dealer, all private party, my state does not care, or therefore record, what I paid. Statistically my bikes do not exist.

The value reality is when someone slaps leather, shows the $, and the other person says yes. Everything else seems to be speculation and hope. These guides just give you ideas as to starting numbers to throw out in your quest.

+1

For all "they" know, I paid $100 for most of my vehicles.