Used motorcycle price guide

[waylap]

I've been pondering the thought of passing on my motor to someone with more time to ride and truly enjoy her. So now I'm wondering where I find a reliable source for a bikes real current market value? Is KBB or NADA on target for bikes too or is there something else?

[Polo]

Both KBB and NADA don't take mileage into consideration, so if you have a few miles on, that may play to your advantage. Use them as a reference only.

 

I would research as many sources as you can looking for used bikes like yours, feed that into a spreadsheet and draw your conclusions thus.

 

That's what I did in reverse when I bought mine last August. At the time I saw '04 RT's going anywhere from $8 to $11.5K. Some folks were deluded, some other thought that farkles are worth extra, some thought that their love for the bike was a commodity.

 

Farkles are worthless, extra equipment, such as GPS, sidecase liners, tank bags are worth a little.

 

I paid $9,250 for mine with 6,700 miles, out of warranty due to age.

 

 

[VinnyR11]

Does anyone know how often KBB and NADA are updated? I would think the current state of the economy is having drastic effects on pricing that changes by the month.

[jmseattle]

MCN: http://www.mcnews.com/mcn/usedbike.asp

 

Their latest online update is summer '08 but you can lay hands on the spring '09 update in the magazine (March I think)

[Alan D]

 

 

 

Farkles are worthless, extra equipment, such as GPS, sidecase liners, tank bags are worth a little.

 

 

 

I came to that conclusion when selling mine so I sold the sargent seat and elf pegs separately. Guess what the first purchases will be for the new owner. Wish I had removed ad sold the olins.

[BeemerLover]

As I understand it, KBB is what the dealer will usually ask for the bike and I think the website actually indicates that. NADA is more reflective of the average price buyers and sellers actually negotiate.

 

[cali_beemer]

I think their are too many variables for a book to determine a bikes value. In the past 2 years I have bought and sold alot of motoryclcles. In all of that, here is my take on it, however; I know some on here are going to disagree with me.

 

I have not found very many situations where NADA book has been remotely close to the price I have paid or sold a bike for. KBB has been for the most part very accurate in most cases however it still has alot of flaws. As noted mileage is not taken into account for either book and in the case of my 05 RT, KBB booked it out for thousands more than what they are selling for. Some people discuss the accesories not adding any value. While I agree that you never get your money back out what you paid for them, I disagree that they dont add value, especially on a BMW where most likely the buyer is an enthusiast and knows what the farkles cost to do. Think about this, you see one bike selling for 10,000 dollars bone stock and another one identical but with a Russel saddle, ohlins shcoks, a GPS, a top case and other goodies. Would you not pay an extra 1-2000 dollars for it? I would becasue I know that the shocks cost close to 1500 on their own, along with roughly 500 for the case and 750 for the seat. I also know they are all things I want/need on the bike. Everyone I have sold a bike to has looked at the extra equipment closely and factored that into price. The last bike I sold I even advertised the GPS as not included but when the buyer showed up he offered me a good amount extra to leave it on. SO I do believe that farkles adjust value, but again you aint gonna get retail for that stuff and you are relying on finding a person that wants all of that stuff.

 

I also believe that location affects value. I knwo some people may laugh at this one but I live in California. We can ride 364 out of 365 days out of the year and to say motorcycles are popular here would be an understatement. After looking alot for bikes on the internet, I have seen alot better deals on bikes in other parts of the US than here. In fact I purchased a bike in Colorado that wasnt selling after weeks of being for sale. I then drove it back to California where I sold it for 2k dollars more than what i paid for it. The same goes for even within California. I have driven for 3 hours in some cases to buy bikes that were out in the stix, not near a major city.

 

Overall the best advice I can give someone is that a bike is only worth what someone is willing to pay for it. I am on craigslist all the time looking to see what peoeple are selling that bike for. I understand what bikes are easy to find and what bikes are more rare. I pay attention to how long certain models are for sale. Once you spend time to understand the market, it makes pricing alot easier.

[R_D]

Both NADA and KBB are good to use as references. If your buyer is going to finance the purchase then the financial institution will probably use NADA. You probably will want to also research bikes that are comparable in completed auctions on EBAY.

[bayoubengal]

I just bought an RT and spent 4 months studying the RT market. In general, I found KBB more representative of the left coast and NADA more representative on the right coast. I repeat, in general. I found people asking crazy prices for stuff nationwide. And I watched it sit there for a long time. I saw people asking prices for 1150s that were way above what 1200s were selling for. When I bought my bike, I by no means felt I stole it. I would have like to have paid less and I'm sure the seller would like to have gotten more. Find the right bike for you that is within an acceptable range for that model. When you find it, be prepared to act. The good values go very very fast. Also keep in mind that what someone owes on a bike has zero none zip nada to do with the value. The value is the value. If the owner is upside down, he needs to bring his checkbook to the closing. And I agree, the financial institutions overwhelmingly use NADA.

[Polo]

Does anyone know how often KBB and NADA are updated? I would think the current state of the economy is having drastic effects on pricing that changes by the month.

 

Supposedly on a monthly basis, but the quality of the update varies with regions. KBB is more trusted and used on the west coast, so they seem to apply more efforts to accuracy to that area. Their websites may be updated more frequently.

 

Both KBB and NADA will give you trade in and retail pricing. I believe KBB will also give you private party pricing. Typically a dealer gets a slightly better price than an individual. However, the dealer will assume some responsibility for the condition of the vehicle being sold. When they sell something "AS IS", they still are liable for safety and State Inspection items. i.e. can't sell a car that has less than 2/32nds of rubber left, broken windshield in eye-sight, etc. The same holds true with motorcycles. This applies here in Texas, I don't know other states.

 

Caveat Emptor.

[Polo]

I just bought an RT and spent 4 months studying the RT market. In general, I found KBB more representative of the left coast and NADA more representative on the right coast. I repeat, in general. I found people asking crazy prices for stuff nationwide. And I watched it sit there for a long time. I saw people asking prices for 1150s that were way above what 1200s were selling for. When I bought my bike, I by no means felt I stole it. I would have like to have paid less and I'm sure the seller would like to have gotten more. Find the right bike for you that is within an acceptable range for that model. When you find it, be prepared to act. The good values go very very fast. Also keep in mind that what someone owes on a bike has zero none zip nada to do with the value. The value is the value. If the owner is upside down, he needs to bring his checkbook to the closing. And I agree, the financial institutions overwhelmingly use NADA.

 

Yes to all that, but no to the statement about financial institutions using NADA; I know that financial institutions are split according to their region of function. I used to get better book (loan value) from a lender in the west coast if I submitted the package with KBB book-out.

[cali_beemer]

I believe KBB will also give you private party pricing.

 

Actually on motorcycles they only give trade in and retail. I find the retail is more in line with where private party has been getting here in California while big dealers can typically gett a few thousand over the retail value. as for the trade ion value with KBB, I find that number to be all over the place and somewhat inaccurate. I have been offer significantly more than trade in than KBB said on some and alot less on others. The popularity of the bike, ease of reselling, condition, used inventory and mileage are big players on trade in value and will fluctuate from dealer to dealer. Its very tough to get a book value for trade in because no book can predict an individual dealers experience and current situation.

[VinnyR11]

I've begun researching buying a "new" bike that I most likey will purchase the end of next season. Yes, it's a long way off, but I find the search really enjoyable.

 

Regarding accessories adding value. Maybe it's me, or maybe as Ryan said, it's Beemer owners, but I look at added accessories very seriously when looking to buy a new bike. I know what stuff interests me, and what stuff I know I'm going to wind up adding afterward. If the bike already comes with that, it's a huge win. Now, that still begs the question, "does it add value"? IMO, it makes the bike more competitive vs. others for sale, but again that's only because it meets my particular desires. When pricing the bike, I mentally discount all those farkels and look at them as icing. I figure, those additions are good for me, but maybe not the general public, so I'm not going to pay more for them.

[DaveinNCMn]

MCN: http://www.mcnews.com/mcn/usedbike.asp

 

Their latest online update is summer '08 but you can lay hands on the spring '09 update in the magazine (March I think)

 

FWIW RT pricing from the MCN March 2009 issue:

 

02 - $6,085

03 - $6,900

04 - $8,245

05 - $9,945

06 - $10,945

07 - $12,640

08 - $14,455

 

Acoording to MCN: "The prices given are for the full retail value of a stock motorcycle in a reconditioned or clean, undamaged and well-maintained with average mileage ready to be sold by a dealer or between individuals. The value assigned is a national average."

 

 

[cali_beemer]

MCN: http://www.mcnews.com/mcn/usedbike.asp

 

Their latest online update is summer '08 but you can lay hands on the spring '09 update in the magazine (March I think)

 

FWIW RT pricing from the MCN March 2009 issue:

 

02 - $6,085

03 - $6,900

04 - $8,245

05 - $9,945

06 - $10,945

07 - $12,640

08 - $14,455

 

Acoording to MCN: "The prices given are for the full retail value of a stock motorcycle in a reconditioned or clean, undamaged and well-maintained with average mileage ready to be sold by a dealer or between individuals. The value assigned is a national average."

 

 

If the bike was in good hape, respectable miles and well taken care of then those prices are low for my area. You could get 11-12k for a 05 RT eaily in my market. Heck as it is there are wanted ads for used RT's around my neck of the woods. No book will tell you what a bike is worth. Only the buyer and seller can determine that.

[bayoubengal]

The MCN numbers seemed very accurate for the right of the Mississippi region.

 

FWIW on the farkles, I went in with the position that extras added very little. I passed on a very very nice RT that was $1500 more than the one I bought, but loaded with extras. By the time I am done, I will have spent that $1500 + ...

 

If it is an accessory that you are going to buy anyway, account for it.