A little advice please...

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A little advice please...

Postby tommymcguck » Sun Aug 28, 2011 10:44 am

Hey all,

I have a GT i-Drive 2.0 XC (2004 model I believe) which has just been sitting downstairs collecting dust for the past 6 months. I'm also about to travel overseas and could really use the cash this thing could bring in. Thing is I have absolutely no idea how much it is worth (and I know just as little about the bike itself).

It is in fairly good condition, a couple of gears take the magic touch to get them to change consistently but everything else is working well. As far as I know it is all original parts and only has a few scratches and things. I bought it second hand but never really used it that much, and when I did it was just to get to work on roads. The previous owner worked at a LBS in my home town and said he took good care of it.

Any advice for how much I should be asking for the bike?

Cheers

Tom
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by BNA » Sun Aug 28, 2011 12:12 pm

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Re: A little advice please...

Postby drubie » Sun Aug 28, 2011 12:12 pm

Dual suspension, front and rear hydraulic disks and decent fork, aluminium frame (i.e. is it like the 2007 model?).

I'd ask $700 and take $500. If it's got cable disks then ask $600 and take $400. V-brakes maybe $200-$300.
So we get the leaders we deserve and we elect, we get the companies and the products that we ask for, right? And we have to ask for different things. – Paul Gilding
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Re: A little advice please...

Postby wombatK » Sun Aug 28, 2011 4:06 pm

Bikes depreciate at about the same rate as cars - 15% each year. After seven years, it's worth about 32% (0.85^7) of original cost. You can get a new one for about $850 from Chainreactions. You should be pleased to get $300. FWIW, the average life of a bicycle is less than 6 years.

You've got to look at it from the buyer's perspective - they don't know how hard the bike has been treated, bike's don't have odometers or anything else much to indicate wear & tear. It takes a very savvy buyer to pick the signs of wear and tear, and there's not a lot of people that savvy who'd risk paying a lot for a second hand bike.

Cheers
WombatK

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Re: A little advice please...

Postby tommymcguck » Sun Aug 28, 2011 6:26 pm

Thanks guys. If I was to have a guess I was thinking about 300-400, and would be happy with that. Cheers for the input.

So, anyone want it? :D
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